Forbes recently put out the top 10 best cryptocurrencies to invest in in March 2024, and Shiba Inu and DOGE made it to the list. While Shib has everything to reach a New ATH in March, Doge gets a red flag despite being on Forbes. It’s SHIB vs. DOGE. Let’s take a look.
Forbes has turned its attention towards Shiba Inu after it crossed 280% in the past month. Outperforming Bitcoin, Ethereum, and even the US stock market. Among Forbes’ top 10 cryptos to invest in for March 2024, SHIB holds its place alongside industry giants like BTC, ETH, Tether, Solana, XRP, etc. Although it ranks last on the list, SHIB’s inclusion marks a big milestone, at this stage.
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Forbes highlights Shiba Inu’s evolution from a joke to a significant player in the crypto world, citing its $24.4 billion market cap and a price above $0.00004 as of March 5, 2024. The recent acknowledgment by Forbes comes on the heels of SHIB’s impressive rally, soaring by 378.11% in just eight days and attracting investors seeking gains. Despite a minor 1.06% dip in the last 24 hours, Shiba Inu remains notable in the crypto market. However, with SHIB retracing from its peak to $0.00003222, reflecting a broader bearish trend, there’s evident fear in the market.
SHIB vs DOGE: A Face-off
In addition to Shiba Inu, Forbes also highlighted Dogecoin as another meme-inspired cryptocurrency worth investing in March. While Dogecoin has gained credibility over time, Forbes raised concerns about its unlimited supply, which could impact its long-term value.
Let’s break down the Dogecoin situation. Dogecoin is currently priced at $0.180490, with a high trading volume of $5.85 billion in the past day. Plus, its market cap sits at $25.88 billion, representing a market dominance of 1.00%. With the news doing the round, the price of DOGE has surged by 8.00% in the last 24 hours. Overall, Dogecoin is experiencing decent trading activity and price movement, reflecting high interest and volatility in the market.
Beyond Meme
Apart from SHIB and DOGE, Forbes also added other cryptocurrencies as worthy investments in the current bull market, including BTC, ETH, XRP, BNB, Solana (SOL), and Cardano (ADA). Stablecoins like USDT and USDC were also hailed as suitable options for investors seeking stability amid market volatility.
Who wins the race?
The Bitcoin halving will determine SHIB and DOGE’s destiny. The price of SHIB is likely to rise, possibly moving it up Forbes’ list. This bodes well for Bitcoin, SHIB, XRP, and the crypto industry in the coming months.
Zameer Attar
Zameer is a financial analyst and writer with a particular interest in cryptocurrency markets. He has been studying cryptocurrencies and their market behavior for several years and deeply understands the factors that affect the price of cryptocurrencies. His expertise lies in his ability to use both technical and fundamental analysis to make informed predictions about the future direction of cryptocurrency prices. He has a strong understanding of market sentiment and uses this to inform his trading decisions and price predictions.
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