Bitcoin Forum

Hello,
Does it make sense to convert Dogecoin into Shiba Inu?


Thank you.

The question is why do you want to convert it to Shiba Inu?

I mean Dogecoin is doing great though, is the Shiba Inue hype still that big that you want to convert what you have to it?

In any case I think it's simply conversion, if there is no direct Dogecoin->Shiba then you can used others to Dogecoin->Other coins->Shiba.

perhaps yes it make sense, as the matter of fact last year shib had a good performance compared to doge because obviously has a strong community as well. Although elon musk is really a doge lover but still not a big deal. :D learn how TA it's a big help as well and make research for sure you can get more information which is good to hold this year.

Hello,
Thank you so much for your reply.
Does Dogecoin have a blockchain? Who use it? I heard that the Shiba Inu wants to to launch Metaverse and maybe its price will increase, but how about Dogecoin?

What do you mean blockchain?

https://dogechain.info/

Not sure but there are a lot of users, or shall we shall investors of Doge that why the price keeps getting up.

But as far as Shiba goes, it is the current hype as it reaches new all time high and currently like sitting just outside of the top 10. So there's still a lot of investors who are willing to pour their money and ride the bandwagon.

the metaverse is currently trending, whether the price of shiba will go up because they will launch the metaverse it is very possible but if the decision to change your dogecoin to shiba because of this news it is very possible for you to be stuck in high prices, don't expect too much that the launch of the metaverse on shiba will be a success because many altcoins will do that in the future just to follow a trend that maybe they not have the ability to develop.

It definitely makes sense if you think SHIB has more potential than Doge that’s already expensive enough. RIght now I also think that SHIB has gained more fans and attention more than Doge that has its fame faded after elon didn't shill for it anymore.
Although SHIB could be said as simply just a copycat of DOGE but it’s also favoured by many traders and have more or less the same trading volume as DOGE, if there is anything that could be the next DOGE it should be SHIB and no other.
However DOGE are also being concerned by elon about having whales that have huge amount of DOGE in their wallet making it easy for them to control the market.
At the end of the day, whether it make sense or not to convert DOGE to SHIB will be based on your preference and how you manage your own investment portfolio. If you want to reduce the risk of investment loss, it'll be better to convert it to MATIC maybe that has lesser risk than a meme coins.

What does convert mean here?

If you mean you want to sell your Dogecoin and change your capital to Shiba Inu, you can do it on exchanges.
If you mean swap, you can try if any exchange allow you to swap Dogecoin to SHIBA. I try with coinmarketcap and it seems there is no direct way to swap from Dogecoin to Shiba. https://coinmarketcap.com/currencies/dogecoin/markets/

So if you want to swap on DEX, you have to do it from Dogecoin to a third cryptocurrency (ETH, BNB, BUSD, USDT) and swap it to SHIBA.

SHIBA is very over valued and I don't think it is safe for investment.

You can convert 50% of your doge holdings to Shiba Inu if you don't have Shib before because it is a dangerous thing to go all in for a particular meme coin because you can't really tell when and which of them will pump. That's my take.

Judging by the charts, Doge and Shiba Inu coins have received a sufficient and approximately the same correction to once again be interesting for investors. And accordingly, they can be pump by about the same amount. Therefore, as a risk reduction, you can exchange half of the Doge for Shiba.

Both are meme-coins so basically both are useless sh*t-tokens that offer zero utility for it's users the only difference between them is that Dogecoin is the one "project" that was the first of it's kind while Shiba Inu was the most successful ones of the thousands of Dogecoin clones that started to appear once Elon Musk made his tweets. Early token holders of both projects already made huge profits and i think that the period of useless sh*t-coins will slowly but surely fade away so if you are thinking about selling your Dogecoin then i would probably invest that money into a real project instead of Shiba Inu.

Isn't Dogecoin better or more potential than Shiba Inu?
If you change Dogecoin to Shiba Inu of course you can if you feel Shiba Inu will experience what happened to Dogecoin which is surprising. But I don't think the Shiba Inu will surprise people with its high price tag.

Both are meme coins. I don't hold any of them and for me, doing that doesn't really make sense. Whether you hold any of them, there's not that much difference. What I've noticed to them is that the hype is done for each of them but it's unknown what's going to happen for this year.
Follow what you think is good but if I'm the one to do it, I'll convert both of them into bitcoin.

I dunno because it’s a different joke/meme coin that does well every cycle. You might have missed the boat on both, it’ll be something different next tike, maybe Floki Inu, I dunno.

I think what the OP is doing is quite reasonable, rather than catching Doge using just a tweet. Then he'd better leave it to the Shiba Inu. Even though both of them are currently in a dim period on the surface. If you look at the Shiba Inu movement, there's still a lot of potentials to continue Rally in 2022. As the community grows, the OP decision makes a lot of sense.

Why you wish to convert Dogecoin to Shiba Inu. I understand that now Shiba Inu has got a huge trading volume than Doge. But when you think of mother of Meme coins will be yes always dogecoin. And Shiba Inu follows then. I would advice to buy Shiba Inu now but let's not ignore Doge. Elon might be back and saythey will start accepting Doge. So let's not just focus on Shiba Inu which just came into market.

Not sure what you mean by blockchain there, OP as pretty much everything in cryptocurrency relies in the blockchain.
In the first place, why would you convert to Shiba Inu anyway? If meme coins are what you're up to, you're doing all good with dogecoin already although I am never a fan of meme coins maybe just for laughs, but I won't put my money into it.

Converting Dogecoin to Shiba Inu is like changing a glass of water for a cup of water.
Both of these coins are a meme coin that has no value other than speculative.
There is no way to analyze what will happen to them in the future, so if you want to know the answer to your question, just toss a coin.

Elon Musk tweet made an impression on the doge's cage ,receiving payments with a doge is one of them being a hot topic! agree with you ,if the OP wants shiba don't ignore dogecoin ,elon already believes in dogecoin and will be an important point because will accept dogecoin as payment for merchandise on a test basis said elon in december but no price increase yet  :D

If that you sense of having Shiba Inu is good and safe, that really be a great idea. Perhaps, they are both meme coins and they acted the same, not a problem, though. But if you were choosing to convert Doge into more potential coins like BNB and ETH, I was glad to say that you are actually seeing the huge difference between having meme coins vs legit projects.
I know they seem to stand with competition as they still have the support from the community but what I mean is that we are looking for the best option to keep our investment more profiting and safe.

Why not? If you think shiba will be better investment over doge, then you are convert your shares that you hold, no problem. even i think it makes sense cause shiba increased around 0.6x million time from its initial price within a year while doge only 9x. so shiba may better for short term invest but full of risk cause price already increased incredibly. so its up to you how you dealing with them

Yes it does caused by shiba inu has been evolving into the defi coin with some usability unlike doge coin that doesn't have any usability but it's only having the hype around it that making the doge coin is still till this time. The only thing that makes me wanna say that's a sense thing to convert your doge coin to the shiba inu. i should remind you that dude if shiba will be having more utilities to come as shiba inu developers have been working on it. It's quite different with the doge coin that totally pegged with the elon's tweet or news. Without it and doge coin was nothing.
If you wanna go for long term and shiba inu will become a wise decision for that.

It's always a good idea to diversify your risk (not keep all your eggs in one basket). If you are thinking about investing in these two coins and you are in doubt which is better, just invest half your capital in one and a half in the other. This way you will avoid disappointment in case you make the wrong decision.

Your call!

Lots had been dragged off with that Shiba Inu meme coin but do you know that Doge was the main meme coin in the first place? If not then better changed up that kind of mindset of yours.

But still its your money then its your decision whether you do convert or would both accumulate or invest on both meme coins.
Thing here is that you do know on what you are investing on and dont cry later if there would be some crashes and corrections involved.