Dogecoin (DOGE) has proved doubters wrong over the past few days, with remarkable market showings that saw it ascend higher in cryptocurrency rankings across various crypto authority platforms.
According to CoinGecko, Dogecoin is changing hands at about $0.18 after spiking by roughly 4.3% in the past 24 hours. In addition, the coin’s month-to-date statistics revealed that the coin recorded increments above 100% amid the correction that seems to have plagued the crypto market following Bitcoin’s recent declines.
Consequently, the number one meme crypto asset has ascended to the ninth position, sitting above Cardano (ADA) in the 10th place and Shiba Inu (SHIB), Dogecoin’s main competitor, in the 13th spot.
Shiba Inu (SHIB) Putting Up A Good Fight Regardless
While Dogecoin might have grabbed considerable attention because of its latest market activities, it is safe to say that the coin might have proven to be the largest meme coin while remaining relevant amongst other top altcoins.
Nevertheless, Shiba Inu remains Dogecoin’s formidable competitor with proven potential to outperform the current largest meme coin in the long run.
Shiba Inu barely existed for up to two years when it took the market by storm, making many early SHIB investors millionaires in the 2021 bull season.
Like every other crypto, SHIB struggled to replicate its 2021 run not until recently when it picked up again, deleting a zero and maintaining price levels above $0.00001 with renewed hope of breaking above its $0.00008616 all-time high (ATH).
SHIB’s Market Statistics Relative To DOGE
Per Shiba Inu’s CoinGecko data, the digital asset is priced at $0.000028, reflecting a 0.7% jump in the past 24 hours. Despite spiking by about 192.3% in the past month, the past few weeks saw the coin register losses.
SHIB dropped by 16.2% and 3.9% in the last 14 and 7 days, respectively. Before the subtle drops in value, Bitcoin orchestrated a transient rally that saw Shiba Inu ascend from a lower spot in the coin rankings to position closely below DOGE while giving the impression that it would become the king of meme coins.
Presently, Shiba Inu and Dogecoin boast market caps of about $16.5B and $25.6B, respectively, which invariably implies that both possess chances of outperforming each other in the future.
Meanwhile, PEPE still has a long way to go before it can be compared with Dogecoin or Shiba Inu. It is regarded as the third-largest meme coin and ranked 43rd on CoinGecko’s crypto standings.
