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- Former Goldman Sachs analyst Murad Mahmudov predicts that Shiba Inu (SHIB) will surpass Dogecoin (DOGE) in the next crypto bull cycle, challenging the perception that Dogecoin is unbeatable.
- Despite facing a significant correction, Shiba Inu’s development team is actively building its ecosystem, including the recent beta launch of the Web3 game Shiba Eternity.
Murad Mahmudov, the former Goldman Sachs analyst has recently made a bold claim stating that Shiba Inu will flip Dogecoin in the next crypto bull cycle. Currently, Dogecoin (DOGE) is the eighth largest cryptocurrency with a market cap of $15.8 billion. On the other hand, Shiba Inu (SHIB) has $8.8 billion, nearly half that of Dogecoin, and occupies the 13th spot on the crypto list.
Murad said that the biggest trick player on unwary crypto investors is that outperforming Dogecoin is almost not possible. “The biggest trick they played on you is to convince you that DOGE cannot be flipped,” said Murad.
The former Goldman Sachs analyst stated that promoting the idea that Dogecoin is unbeatable is a strategic manipulation to maintain dominance and deter competition from other projects. Murad further clarified that his statements refer to Dogecoin’s stronghold in the meme coin market. He speculates that another meme coin could surpass Dogecoin during the 2024/2025 market cycle.
For long, Elon Musk-backed Dogecoin supporters have asserted that Dogecoin is indomitable. During the late 2021 bull run, Shiba Inu challenged this notion becoming the first meme coin to surpass Dogecoin (DOGE) experiencing a 45% daily surge and taking its market cap above $32.7 billion while dethroning Doigecoin for a very short period of time.
Will Shiba Inu Dethrone Dogecoin Again?
During the 2021 bull run, the mega rally in Shiba Inu (SHIB) positioned it as one of the formidable cryptocurrencies to look after giving it a massive fanfare. Although after flipping Dogecoin, Shiba Inu entered a massive correction and is currently trading at a 50% discount to Dogecoin’s valuation.
Although Shiba Inu (SHIB) faced massive correction, its development team has been putting special efforts into building a separate ecosystem around the meme coin thereby positioning it as a formidable player for the upcoming bull cycle. As reported by Crypto News Flash, the newly introduced Web3 game Shiba Eternity could help Shiba Inu overtake Dogecoin in the next bull run. Shiba Eternity recently completed its beta launch, offering early access to dedicated SHIB community members who staked LEASH tokens.
As of press time, Shiba Inu is trading 2.44% down at $0.0000151 with a market cap of $8.9 billion. The daily trading volume is up 10% to $1.23 billion.
As reported by Crypto News Flash, market analysts believe that Shiba Inu is undergoing a silent accumulation phase and that SHIB is gearing up for 330% price rally ahead.
Moreover, Shiba Inu lead developers Shytoshi Kusama and Kaal Dhairya have announced plans to transfer control of the project to its community by the end of the year, in line with the original vision of founder Ryoshi. This initiative is designed to achieve “true decentralization” and empower the community to shape the project’s future, reported Crypto News Flash.
