Overall, Memecoin has seen a meteoric rise over the past week. Shiba Inu (SHIB) occupies multiple spots in the top 100 rankings, just below its rival Dogecoin (DOGE).
Shiba Inu (SHIB) price is up 230% on the weekly chart and 272.1% on the 14-day chart, up nearly 300% over the last month. Dogecoin (DOGE), on the other hand, is up 75.5% on the weekly chart, 96.8% on the 14-day chart, and 112.6% on the last month’s chart. However, both assets are facing sharp corrections on the daily charts. The price of SHIB fell by 13.3% in 24 hours, while DOGE fell by 9.7% in the same time frame.
Will Shiba Inu (SHIB) surpass Dogecoin (DOGE) this year?
SHIB's market cap currently stands at $20.3 billion, while DOGE's market cap is $23.8 billion. SHIB's market is only about 13% different from DOGE's. Therefore, if the popular meme coin continues its bullish trajectory, it could overtake DOGE in the rankings.
Shiba Inu (SHIB) and Dogecoin (DOGE) are the most important and well-known memecoins. However, DOGE has the advantage of being first in line. DOGE debuted in 2013, approximately 11 years ago, while SHIB entered the ring in 2020, approximately three and a half years ago. However, SHIB has made quite an impression in its short history. However, given the latest correction, SHIB may not be able to overtake DOGE just yet. Having said that, Shiba Inu (SHIB) may flip Dogecoin (DOGE) later this year.
Dogecoin (DOGE) may be part of X’s upcoming payment features. If so, the asset's value could suddenly skyrocket. Shiba Inu (SHIB), on the other hand, is working on a new burning mechanism that is rumored to destroy trillions of tokens every year. Both developments could significantly boost the asset's price.
