Moving forward, a few important questions remain about Shib’s fate.
are mostly unknown
, though by one estimate they control 80%
of total supply. If they decide to sell their holdings, will there be enough retail demand to keep the price afloat?
Similarly, if investors take profits on Shib and reinvest them into Doge, Doge could recapture some of Shib’s current market share.
If Shib rug pulls, it would go down as one of the largest crypto swindles of all time, and could be used by media to cast undeserved aspersions on Doge. In this sense, Shib is more of a threat to Doge if it fails than if it succeeds.
Another important consideration is that Doge is buoyed by support from Elon Musk, Vitalik Buterin, and Mark Cuban.
At the moment, Shib lacks similar big-name backers, with both Vitalik
and Elon declining to attach their names to the project.