Is It Shiba Inu? Former Goldman Sachs Predicts Dogecoin Will Be Flipped

Murad Mahmudov identifies the biggest trick ever played on investors, asserting that Dogecoin will be flipped by a memecoin in this market cycle.  

Former Goldman Sachs analyst Murad Mahmudov says the biggest trick ever played on unwary crypto investors is the deception that Dogecoin cannot be surpassed or outperformed. 

“The biggest trick they played on you is to convince you that DOGE cannot be flipped,” Murad remarked. 

Murad’s commentary suggests that convincing people that Dogecoin cannot be outperformed is a clever manipulation to help DOGE maintain its dominance and discourage competition from rival projects. 

New Memecoin to Flip Dogecoin 

In a follow-up tweet, Murad indicated that his statement is focused on Dogecoin’s dominance in the memecoin market. Interestingly, the analyst speculated that another memecoin will flip Dogecoin in the 2024/2025 market cycle. 

For context, proponents of the Elon Musk-backed memecoin championed this deceptive belief that Dogecoin could never be flipped. However, Shiba Inu (SHIB) silenced them in October 2021, becoming the first memecoin to overtake DOGE. 

On October 27, 2021, Shiba Inu staged a 45% daily growth, which took its market cap to $32.7 billion. This rally saw Shiba Inu dethrone Dogecoin, which boasted a valuation of $32.1 billion at the time. The next few days saw both Shiba Inu and Dogecoin struggle to be the premier memecoin on the market. 

As many Shiba Inu investors took profit, SHIB’s price plunged heavily, thus helping Dogecoin cement its place as the most valuable memecoin. 

Can Shiba Inu Replicate Its 2021 Feat? 

At the time of writing, Dogecoin is ranked as the biggest memecoin, with a market cap of $15.67 billion. Conversely, Shiba Inu, which boasts a valuation of $8.48 billion, ranks as the second-biggest memecoin. Pepe (PEPE) is the third-biggest memecoin, with a market cap of $3.43 billion. 

Despite the massive gap between Dogecoin and other top memecoins, Murad believes DOGE can be flipped in this cycle. However, he did not specify which asset might achieve this feat. 

For Shiba Inu to flip Dogecoin, its market cap of $8.48 billion must surge by at least 84.77%, potentially rising above $15.67 billion. A similar surge in Shiba Inu’s current price of $0.00001438 will see SHIB trade at $0.00002657 per token.  

Meanwhile, whether Shiba Inu might be the memecoin to flip DOGE in the 2024/2025 market cycle remains to be seen.