Dockless electric bike-sharing (DEBS), an emerging type of shared micromobility, has the potential to reshape the feeder mobility landscape that dockless bike-sharing (DBS) established in the last-mile metro context. Understanding traveler preferences between DEBS and DBS is crucial for the sustainable development of the bike-sharing feeder markets. This study sets up a context-dependent stated choice experiment to explore the critical factors that influence travelers’ choice between two bike-sharing feeder modes. It also examines whether these factors have different effects on traveler preferences in urban and suburban areas. Based on data from 402 urban respondents and 408 suburban respondents in Nanjing, China, we estimate random parameters logit models for urban and suburban areas, respectively, and find all main attributes are significant but exhibit variations across two geographical areas. Results indicate that riding distance is a critical factor in the choice between the two bike-sharing feeder modes: travelers prefer to use DBS at 800–1,500 m, while DEBS is favored at 2,500–4,000 m, especially in suburban areas. Although cost and access time also impact the probability of choosing DBS and DEBS, this influence is weaker than riding distance, as these factors do not significantly alter the “dominant riding distance” for either of the two bike-sharing feeder modes. Additionally, suburban travelers traveling for commuting purposes or with private electric bike experience are more likely to choose DEBS than DBS. The findings from this study can assist policymakers in devising targeted policy measures to promote the sustainable development of the two bike-sharing feeder modes in distinct geographical areas.