With the bull run growing strong in 2024, the meme coins are ready for a new bullish showdown this year. Finding an immense rise in demand in late February and early March, the top coins in the meme coin industry performed more than 300%, while some breached the 800% milestone.
Amidst this newfound craze for the hype and community-driven altcoins, the top coins like Dogecoin and Shiba Inu are the most common investment options. However, the age-old question remains the same for these two meme coins: which will perform better?
For this old question, we have put the new generation of artificial intelligence technology to the test. With this, we aim to find out which performer is the best between Shiba Inu and Dogecoin.
Comparing Top Meme Coins: DOGE Vs SHIB
Analyzing the weekly chart of the Shiba Inu and Dogecoin, the bull run is prominent in the both. However, the bullish reversal in the SHIB price surpasses and retests the breakout of the 23.60% Fibonacci retracement. Meanwhile, the DOGE price struggles to surpass this retracement level.
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Further, the recent bull run in Shiba Inu accounts for 250% in two weeks, while the DOGE is up by just 100%. However, the retracement in the SHIB price has become more intense in the past two weeks while Dogecoin sustains a sideways trend.
Hence, the volatility of the Shiba Inu price trend is visibly higher than that of the original meme coin, DOGE. That is why, considering the bull run starts in the market, the Shiba Inu price is expected to scale new heights faster and sooner than Dogecoin, which, in turn, gives better returns. However, the risk is also comparatively higher than its counterpart.
To support and get a clear view of our analysis, we asked ChatGPT to re-analyze this possibility.
Why ChatGPT Chooses SHIB Over DOGE?
We shared our chart image with ChatGPT, and it started the analysis with the basic Fibonacci levels and price levels. Based on this, the AI predicts the meme coin Shiba Inu is much more volatile than Dogecoin.
Based on the price action and basic fundamental analysis, the AI predicts SHIB to outperform DOGE in 2024 with more dynamic price action.
On further analysis, the GPT predicts Shiba Inu to reach $0.0001649 or the 2.618 Fib level in 2024 for a new all-time high. Meanwhile, the meme coin DOGE could reach the 1.618% Fib level at $0.8773.