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Will Shiba Inu (SHIB) catch up to and pass Ripple (XRP)?

Phillip Bryant

ByPhillip Bryant

Sep 8, 2023

The anticipation of future developments in specific cryptocurrencies is a complex endeavor devoid of precise certainties. Market analysts routinely factor in various elements, such as historical track records, practical applications, community engagement, and overall market instability.

Considering the perspective above, let us analyze Shiba Inu’s (SHIB) potential to surpass Ripple (XRP) in the foreseeable future.

XRP Against SHIB

Upon careful examination of their respective market capitalizations, it becomes evident that XRP, with its current valuation standing at an impressive $26.5 billion, surpasses SHIB by a significant margin. The stark contrast in market capitalization between the two is striking, as SHIB lags with a comparatively modest market capitalization of $4.4 billion.

This discrepancy underscores the substantial difference in size and value between these two digital assets. Since its inception, XRP has undeniably demonstrated a remarkable ability to maintain a prominent position among the elite crypto assets within the market capitalization realm.

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In contrast, it is worth noting that SHIB has undergone a series of fluctuations, wherein the volatile nature of the market has exerted a more frequent and pronounced influence on this particular meme coin compared to the relatively stable trajectory observed in the case of XRP.

In light of recent developments, it is becoming increasingly evident that SHIB is undergoing a profound metamorphosis that transcends its initial characterization as a mere meme coin. At the heart of an expanding ecosystem lies a focal point:

  • ShibaSwap
  • The Shiboshi NFTs
  • The Shiba Inu incubator
  • The recently unveiled Shibarium Layer-2 network

The notion of an expanding ecosystem entails the prospect of SHIB’s use cases proliferating and exerting a consequential influence on the coin’s value in the forthcoming period.

The adverse consequences of negative publicity on the value of a cryptocurrency are well-documented, and the underwhelming trajectory of SHIB following the glitch-ridden debut of Shibarium serves as a compelling illustration of this phenomenon.

With the resurgence of Shibarium’s online presence and the gradual increase in user engagement, industry analysts anticipate a promising trajectory for the meme coin as it transcends its previous state of inertia and embarks on a path of substantial growth.

XRP has garnered significant attention recently due to its notable legal development, wherein it achieved a partial triumph in its ongoing legal battle against the U.S. Securities and Exchange Commission (SEC). A court ruling concluded that XRP does not fall under the security classification when traded on secondary markets.

This ruling has generated considerable discourse within the cryptocurrency community and has been viewed as a positive outcome for XRP. Despite the anticipation surrounding the clarification, the resultant impact on XRP prices has not been as substantial as anticipated by market observers.

However, Congress’s projected enactment of multiple cryptocurrency-related bills in the upcoming autumn might exert a gentle upward pressure on its price trajectory.

The Value of Community Is Overrated

In community dynamics, the Shiba Inu cryptocurrency finds solace in the presence of a robust and unwavering collective known as the “SHIB army.” This devoted assemblage serves as a driving force, propelling the token towards its desired trajectory.

The consistent support and participation of the Shiba Inu community has, without a doubt, been the primary factor in the upward trend of the Shiba Inu pricing. This symbiotic relationship between the project and its dedicated followers has played a pivotal role in shaping the token’s value, and experts anticipate this prevailing trend to persist in the foreseeable future.

Upon careful examination of the prevailing market values, it becomes evident that SHIB, to attain a comparable standing to that of XRP, must undergo a substantial growth of approximately 550%. In the hypothetical scenario presented, it is postulated that the meme coin in question would undergo a reduction in its numerical representation, specifically by eliminating one leading zero.

Consequently, this alteration would result in the coin’s trading value being approximately $0.0000075. While the likelihood may be low, it is crucial to acknowledge that impossibility cannot be definitively asserted.

Phillip Bryant

Phillip Bryant

Phillip Bryant, an esteemed writer in the financial field, imparts his extensive knowledge of currency markets to the readers of Main Crypto News. With a wealth of experience in international finance and a keen sense of market trends, Bryant offers timely and perceptive analysis of foreign exchange, keeping readers well-informed.

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