Dogecoin DOGE/USD and Shiba Inu SHIB/USD are both cryptocurrencies that have seen a huge level of acceptance and development in the past few months.
Each token is categorized as a meme-based token, based on a joke, but they are actually quite utilized and have their own ecosystems.
Specifically, in a report by Vogue Business, we saw that Gucci announced the acceptance of Dogecoin and Shiba Inu for payments within the luxury industry.
We saw how Shiba Inu gained the new use-case of buying land in SHIB: The Metaverse. Vitalik Buterin even provided an update on the Shiba Inu Covid-19 relief fund, which is sending $100 million back to him.
On May 4, we covered how the BIG3 premier global league announced that Bill Lee, which is the co-founder of Craft Ventures, bought 25 fire-tier editions of Aliens using Dogecoin.
Should you buy Dogecoin (DOGE)?On May 5, 2022, Dogecoin (DOGE) had a value of $0.1347.
The all-time high of Dogecoin (DOGE) was on May 8, 2021, when the token reached a value of $0.731578. This means that at its ATH, DOGE was $0.596878 higher in value, or by 443%.
When we go over the performance of the token throughout the previous month, Dogecoin (DOGE) had its highest point of value on April 6, when it reached $0.1729.
The lowest point of value of the token was on April 25, when the token decreased to $0.1243. Here, we can see that the token decreased in value by $0.0486 or by 28%.
However, the token has seen an increase from April 25 to May 5 of $0.0104 or by 8%. With this in mind, we can expect DOGE to reach $0.2 by the end of May, making it a solid buy.
Should you buy Shiba Inu (SHIB)?On May 5, 2022, Shiba Inu (SHIB) $0.00002156.
When we go over the token’s all-time high, Shiba Inu (SHIB) had its ATH on October 28, 2021, when it reached $0.00008616. Here, we can see that the token was $0.0000646 higher in value, or by 299% at its ATH.
Looking at the performance of the token throughout the previous month, Shiba Inu (SHIB) had its highest point of value on April 12 at $0.00002817.
However, the lowest point of the token was on April 309, when the token decreased to a value of $0.00002157. Here, we can see a decrease of $0.0000066 or 23%.
With this in mind, SHIB is worth buying now more than ever as it can reach $0.00003 by the end of May,
The post Why DOGE and SHIB are worth getting on May 5 appeared first on Invezz.
