The digital currency Shiba Inu (SHIB) is engaging in a competitive drive to outshine Dogecoin (DOGE) as the meme coin market leader. Recent online statements have highlighted SHIB’s team expressing a bullish stance on their potential to surpass DOGE, suggesting undisclosed strategic moves toward this end. In late 2021, Shiba Inu momentarily overshadowed Dogecoin in terms of market cap, fueled by an all-time high in its price point. However, Dogecoin swiftly regained its prominent position, leaving SHIB within the top 20 cryptocurrencies by market capitalization.
Charting the Meme Coin Rivalry
The competition between Shiba Inu and Dogecoin isn’t new. SHIB’s record pricing in October 2021 gave it a transient edge over Dogecoin in the market standings. Despite this surge, Dogecoin managed to reestablish its dominance, maintaining a place in the top ten, while SHIB stayed in the top 20 bracket even as its price receded.
Nevertheless, the Shiba Inu crew remains optimistic about their coin’s prospects, bolstered by the dedicated SHIB Army community and advancements within the Shibarium blockchain project. Recent classifications by CryptoCom have placed SHIB as the second most valuable meme coin, emboldening the Shiba Inu faction with the belief that surpassing Dogecoin is within reach.
Shiba Inu’s Current Momentum
The Shiba Inu team has been stirring excitement with hints of significant breakthroughs, resonating with the crypto community’s belief in SHIB’s potential to eventually eclipse DOGE. The latest 24-hour trading data shows SHIB’s price jumping by 4.5%, touching $0.00002711, with a 4.27% boost in market capitalization to $16 billion, and a 17% increase in trading volume, reaching $1.8 billion.
This recent uptick in trading metrics for Shiba Inu underscores the escalating contest for meme coin supremacy, a race that SHIB is determined to win, challenging Dogecoin’s longstanding reign.