Ripple's XRP, Shiba Inu (SHIB), and Dogecoin (DOGE) are undoubtedly among the cryptocurrencies with the most devoted communities in the industry.
Its price action tends to be explosive and directional, driven by massive retail interest.
Comparing them against each other provides valuable insights into their current market dynamics, factors that may shape their future prices, as well as specific details surrounding their tokenomics.
The most obvious answer to the question is that
Ripple (XRP) price depends on Ripple's lawsuit against the SEC
The popular AI-based chatbot has given multiple considerations to take into account when evaluating future cryptocurrency prices.
The SEC has alleged that Ripple conducted an unregistered securities offering when it launched XRP and later when it sold it to the public.
This lawsuit, which has loomed over XRP for almost three years, has undoubtedly suppressed interest in the cryptocurrency. It was delisted from major exchanges like Coinbase and Bitstamp.
But more recently, presiding judge Analisa Torres ruled that secondary sales of XRP did not constitute investment contracts. Exchanges that had previously delisted it immediately re-listed it and interest in XRP increased again. The price skyrocketed and doubled overnight, almost reaching the dollar. You can find more information about it in our short video:
If Ripple wins the case, perhaps the price of XRP could replicate the move and eventually surpass the dollar. However, it is not known when the case could end.
Shiba Inu (SHIB) vs. Dogecoin (DOGE): the eternal rivalry
This is perhaps one of the fiercest rivalries in the industry, specifically when it comes to meme coins. Shiba Inu's SHIB token rose to prominence during the last bull market with its astronomical rally, one the industry had rarely seen before.
Dogecoin, on the other hand, is increasingly becoming an established cryptocurrency with a base behind it that includes the likes of Elon Musk and Vitalik Buterin.
From a pure price action perspective, Dogecoin appears much better positioned to rise to $1 due to its token economics and current position. The cryptocurrency is trading at around $0.06, which, although far from $1, is still better than the current SHIB price of $0.00000737.
However, it is impossible to rule out the possibility of a major tokenomics update on SHIB's roadmap, something that could change the dynamic between the two.
ChatGPT also outlined some other considerations to keep in mind. These include, but are not limited to:
- Market sentiment
- Adoption
- Comercial activity
- Competence
- Technological developments
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