SHIB Overturns DOGE Again As Meme Coins Battle For Supremacy

SHIB overturns DOGE again as both meme coins are battling for supremacy on the list of the top crypto, as the latter is declining over the past day so let’s read more in today’s Dogecoin news.

Both SHIB and DOGE experienced a volatile price action over the past week with another dog-themed crypto FLoki Inu surging this week. Last week was quite wild for the meme coins as Shiba Inu vaulted into the top 10 for the first time and flipped Dogecoin in terms of market cap but then DOGE recaptured momentum and flipped back. Over the past 24 hours, Shiba Inu started regaining some ground and now SHIB overturns Doge again with a price of $0.00007640 per token. The meme coin is up by 13% over the past day and now stands at the 9^th position on the list of biggest cryptocurrencies.

SHIB Token — SHIB 24-hour Price Chart (Source: Coinegcko)

In the meantime, DOGE is on the drop and crashed by 8% in the past day to a price of $0.29 per coin. Doge increased fast yesterday by some 30% in a few hours during the early morning. Now, it is losing some of the steam and dropped back below SHIB to retake the 10^th position on the CoinGecko list ranking. Dogecoin remains well off the ATH from $0.73 and it is down 60% since then. In the meantime, the ETH-based SHIB to just 12% off its ATH of $0.00008618. DOGE exploded in popularity and increased from a price of $0.005 to the previous peak in May. The original meme coin had a few dog-themed pretenders and was able to hold the throne up until Wednesday when Shiba Inu gathered momentum and elevated the token to the top of the meme coins list.

crypto market — Cryptocurrency Market Overview. Source Quantify Crypto

Meme coins and tokens are highly susceptible to changing social media sentiment because they can be very volatile. The newer meme coin increased 980% over the past 30 days according to CoinGecko with the entire span coming after a previous price bump following the listing on Coinbase. While both coins are well ahead of the rest of the meme pack, other dog coins are popping up as well. Floki Inu for example was up by more than 200% following low fees and potential impact from the physical marketing campaign in London.

DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at editor@dcforecasts.com