Shiba Inu vs Dogecoin: Which Crypto is on Green After Twitter Purchase?

Now that the Twitter deal is sealed, in Shiba Inu vs Dogecoin, any meme coin could be green soon

The price of Dogecoin has jumped 50% in the 36 hours since Elon Musk – an outspoken fan of the altcoin – bought the social media platform Twitter. Musk's purchase – a drawn-out US$44 billion acquisition – was completed yesterday morning when Dogecoin was at US$0.073. It's currently worth US$0.13. Shiba Inu, meanwhile, jumped 25% from US$0.000010 yesterday morning to today's price of US$0.000014. Let's explore who wins the race- Shiba Insu vs Dogecoin.

Shiba Inu often moves in step with Doge after being created two years ago in the almost mimic form of Doge which was developed 'as a joke' eight years ago by Billy Markus and Jackson Palmer.

The news about Elon Musk nearing sealing the Twitter deal resonated even with the crypto market, where some coins associated with the business magnate posted a surge. There has been news about Elon Musk's interest in Shiba Inu (SHIB), though it has not been officially made, and his love for Dogecoin (DOGE) has not been a secret.

Crypto investors reacted to the news because of Musk's association with these two coins. Now that the deal is sealed, we can expect Dogecoin (DOGE) and Shiba Inu (SHIB) to be among the coins that will respond to this news in the next few days.

Therefore, the relationship that Elon Musk has with these two coins is the reason their market value surged when the news came out that he was in the last stages of sealing the deal. Now the deal is sealed, and Elon Musk has already sacked top officials.

The Value of Dogecoin and Shiba Inu with Elon Musk's Backing

The OG meme coin, DOGE, has seen its price skyrocket over the last 48 hours as Elon's proposed takeover of Twitter appears to be concluding. Dogecoin has always held a soft spot in the Tesla CEO's heart and he has frequently made mention of using the cryptocurrency as a payment method for his companies, notably the electric vehicle manufacturer.

If Elon Musk were to implement a payment scheme for another one of his companies, i.e., Twitter, the utility for Dogecoin would drastically increase. It would create a true and undisputed value for DOGE as every Twitter user would at some point come into contact with the cryptocurrency or have to use it or spend it.

This would further set a precedent throughout the crypto industry and to global businesses as to the enterprise functionalities of cryptocurrencies. The second-ranking meme coin by market capitalization, Shiba Inu, has already greatly benefitted from Elon's corporate affairs and would likely seek out its own business functions in due course.

The SHIB token has already driven a great deal of value for itself by installing another two tokens into its ecosystem: LEASH and BONE, both of which are best bought through ShibaSwap.

In 2022, amidst the crypto winter, there's a considerable debate surrounding two of the most popular Shiba Inu and Dogecoin. Both are based on internet meme dogs so their popularity skyrocketed, and even Elon Musk tweeted at some point that Dogecoin would be the currency on the Moon. Dogecoin is essentially the same technology as Shiba Inu. Being an ERC-20 token, SHIB uses a proof-of-work mechanism that gives it a similar transaction rate to Dogecoin for all intents and purposes. In Shiba Inu vs Dogecoin, any meme coin could be green soon.