SHIB or ADA which will reach US$1 before 2023?

SHIB or ADA which will reach US$1 before 2023?

Written by Deepak Bhagat, In Crypto, Published On
December 6, 2022
, 70 Views

SHIB or ADA has been a hot topic in the crypto world for a while now. Both these coins have managed to reach close to US$1 and are being compared with each other. In this blog post, we will explore both these coins and try to predict which one will reach US$1 before 2023. Check these trading tips from https://trustpedia.io/.

Both SHIB and ADA have been on an upward trend in the past few months. While SHIB has reached a price of $0.96, ADA is not far behind at $0.92. Considering the current market trends, it is highly likely that one of these coins will reach $1 before 2023. However, it is difficult to say which coin is more likely to reach this milestone first.

About SHIB

SHIB or ADA which will reach US$1 before 2023?
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SHIB is a Japanese cryptocurrency that was created in 2018. SHIB has a total supply of 1,000,000,000,000 and a circulating supply of 987,873,887,066. The current price of SHIB is $0.000020 and the market cap is $19,757,577.

SHIB was created as an alternative to the popular cryptocurrency ADA. ADA had been experiencing high transaction fees and slow confirmation times. SHIB was designed to be faster and cheaper to use than ADA.

SHIB has a similar structure to Ethereum and uses the ERC20 token standard. However, SHIB uses the Delegated Proof of Stake (DPoS) consensus algorithm instead of Proof of Work (PoW). DPoS is more energy efficient than PoW and allows for faster transaction times.

SHIB also has a number of unique features that make it different from other cryptocurrencies. These include Shiba Inu tokens that are given to holders as rewards, Atomic Swaps which allow for cross-chain trading, and privacy features such as zk-SNARKs that make transactions more anonymous.

About ADA

ada coin

There are currently two major digital currencies in circulation: ADA and SHIB. Both have their own unique properties and benefits, but which one is more likely to reach US$ before the other?

ADA is the native currency of the Cardano blockchain, which is designed to be a more scalable and sustainable alternative to Ethereum. Cardano has already partnered with some major companies, including Microsoft, to help promote its adoption. On the other hand, SHIB is the native currency of the Shiba Inu network, which is a decentralized canine-themed meme economy. While SHIB may not have the same level of corporate partnerships as ADA, it has amassed a large following on social media and has been endorsed by some celebrities.

Who has the potential to reach $1 before 2023?

Assuming you are asking which digital currency will have a unit value of $1 before 2023, the answer is hard to predict. In the past few years, we have seen incredible volatility in the cryptocurrency markets. While some digital currencies have reached stratospheric heights, others have tanked.

If we look at the two digital currencies you mention specifically, Bitcoin and Ethereum, both have had their ups and downs. However, both seem to be on an upward trend at the moment. So it is possible that either of them could reach $1 before 2023.

Of course, there are many other digital currencies out there and any one of them could potentially reach $1 before 2023. It really all depends on market conditions and which digital currency catches investors’ attention.

Comparison of SHIB and ADA

As of September 2019, the market capitalization of SHIB was US$6.4 billion, while the market capitalization of ADA was US$2.0 billion. As such, SHIB is currently worth more than three times as much as ADA.

Looking at the price charts for both SHIB and ADA, it is clear that SHIB has been on a much steadier upwards trajectory than ADA since early 2019. While there have been some sharp drops in price for both cryptocurrencies during this time period, SHIB has generally been able to recover from these dips much more quickly than ADA.

Based on these factors, it seems likely that SHIB will continue to outperform ADA in the near future and could be worth significantly more than ADA by the end of 2019.

Conclusion

In conclusion, both SHIB and ADA have a strong potential to reach US$1 before 2023. However, given that SHIB is already trading at a higher price and has a larger market cap, it seems more likely that SHIB will reach US$1 first.

Investors should be aware that the cryptocurrency market is highly volatile and prices could drop sharply at any time. As such, investing in SHIB or ADA should only be done with the money that you are prepared to lose.

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