Shiba Inu and Dogecoin battle for ‘meme coin’ supremacy

 Shiba Inu and Dogecoin battle for ‘meme coin’ supremacy

Shiba Inu and Dogecoin battle for ‘meme coin’ supremacy.

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This has been a huge week for dog-themed cryptos and they have stolen the spotlight with impressive rallies. It seems like they run in packs and are never too far from one another. In terms of market cap, both Shiba Inu and Dogecoin sat in the top 10 this week, although they traded places a few times. SHIBA had been surging and looked to have dethroned the original meme coin, which was founded in 2013 as a joke. However, Doge wasn’t going down without a fight, and on Thursday it had a rise of its own to take back its position.

Both cryptos have a passionate set of fans. The most famous Dogecoin supporter may be Elon Musk who refers to himself as the ‘Dogefather’ and even though he stated on Twitter that he doesn’t own any Shiba Inu, this did not stop the rally this week. So far, the crypto is up over 1000% in the past month.

It looked as though Shiba Inu would become the dominant ‘meme coin’ in terms of market cap, after climbing over Dogecoin. But, that changed on Thursday as Dogecoin fought back to reclaim its spot. It rose as high as 33 cents and was up more than 28% in the past 7 days. At the same time, Shiba Inu began to dip but soon rebounded. At the time of writing (10:15am), SHIBA was up over 160% in the past 7 days. Meanwhile, DOGE was trading at 30 cents and was up over 16% in the past 7 days.

Who will come out on top in this ‘meme coin war’? As we’ve come to learn from previous trading frenzies nothing can be ruled out. But, it is safe to say that we can expect further price volatility in both cryptos. Will the #ShibArmy push Shiba Inu to new heights or will the #DogeToTheMoon mission ultimately prove to be successful? It’s safe to say that both dog-themed ‘meme coins’ have vocal and passionate supporters.

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