While predicting the future of specific cryptocurrencies is not an exact science, market analysts often consider several aspects, including past performance, use cases, community participation, and broader market volatility.
With that in mind, let’s examine whether Shiba Inu (SHIB) has the potential to outperform Ripple (XRP) in the future.
For this particular question, though, we asked none other than ChatGPT.
SHIB v. XRP
Looking at their market caps, with a current valuation of $26.5 billion, XRP is six times bigger than SHIB, which has a market capitalization of $4.4 billion. Since its inception, XRP has consistently been among the top crypto assets in the market cap. On the other hand, SHIB has experienced several ups and downs, with the market buffeting the meme coin far more regularly than it did XRP.
However, SHIB is transforming itself beyond merely being a meme coin. It is the center point of a growing ecosystem that includes ShibaSwap, the Shiboshi NFTs, the Shiba Inu incubator, and the recently launched Shibarium Layer-2 network. An expanding ecosystem means that SHIB use cases will grow and push the coin’s value in the future.
Bad publicity is usually detrimental to a coin’s value, and SHIB’s lackluster performance in the wake of Shibarium’s glitch-laden launch is a testament to that. But with Shibarium back online and with user numbers gradually growing, analysts expect the meme coin to shake off its lethargy and start making gains.
XRP has also been in the news for all the right reasons after gaining a partial victory over the SEC, where a court determined that XRP was not a security if sold on secondary markets. While the clarification hasn’t really led to as big a pump in XRP prices as market watchers had expected, the expected passing of several crypto-related bills by Congress this fall may nudge its price upwards.
Community is Detrimental
Finally, in terms of community, Shiba Inu can rely on a strong, dedicated “SHIB army” to push the token forward. Community support has been one of Shiba Inu’s most significant price drivers, and analysts expect the trend to continue.
Looking at their current market values, SHIB will need to grow by as much as 550% to get anywhere near XRP’s level. The meme coin would eliminate one leading zero to trade at approximately $0.0000075 in such a scenario. It might be improbable, but it’s not impossible.