Yes, their venom do effect other snakes as it is specialized for other snakes. Snakes have some immunity to other snakes' venom from their own genus/species but even then, a bite in a wrong place can kill. Sometimes even the venom of the same species from different locales will have strong effects as the venom composition differs. When it comes to snake eating specialists like Corals and King Cobras, their venom does the job quite well as it is evolved for that specific job.
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