Shiba Inu Pump Coins 18%, Dogecoin just 2%

Memecoins Shiba Inu Coin (SHIB) and Dogecoin (DOGE) continue to battle for supremacy. Currently, however, SHIB’s profits are much higher than those of DOGE.

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SHIB vs DOGE: Which meme coin won?

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After going down for a month, the holders of the two largest memecoins in the market can finally get some relief. Because: Cryptos recorded gains in July.

First, let’s look at the DOGE data. Currently, the price of the “original memecoin” is around $0.069. That’s a 6% rise over the past seven days. The chart below shows the development of the crypto asset over the past month.

Dogecoin price chart: it looks like the coin price hasn’t changed much in this period | Source: DOGEUSD on TradingView

As you can see from the chart, Dogecoin has seen significant volatility in July. But: At the end of the month it is still only 2% above the initial price.

When reviewing a larger time frame, like the last three months, the cryptocurrency is almost 50% in the red.

As for Shiba Inu, its price is around $0.00001208 at the time of writing. Weekly gains for competitor DOGE are currently at 3%.

Here is a chart showing SHIB’s performance over the past month:

Shiba Inu Price Chart: Cryptocurrency gained a bit in July | Source: SHIBUSD on TradingView

Unlike Dogecoin, Shiba Inu Coin has grown significantly over the past month as the coin has posted an 18% value gain over the period.

But looking at the larger period of the last three months, SHIB is down the same. Because: The asset had to lose 45% of its value.

SHIB vs. DOGE in terms of market cap

As far as the market capitalization of the two cryptocurrencies is concerned, Dogecoin is still far ahead of its competitor: the memecoin is currently ranked 10th in the top 100 cryptos.

Below is a chart showing how Shiba Inu compares to the original memecoin in terms of market cap.

Shiba Inu vs. Dogecoin: DOGE currently has a market cap of over $9 billion | Source: CoinMarketCap

SHIB’s market cap appears to be the 16th largest in the entire crypto market at the moment – six spots behind DOGE.

Last October, Shiba Inu had an unprecedented rally that saw a 1,000% coin gain in 30 days. At that time, the memecoin also found its way into the top ten list and constantly fought with dogecoin for the 9th position.

However, since falling out of the top 10, the cryptocurrency has continued to disappear from the top 10. Another major rally is likely to be needed before SHIB DOGE can challenge again.

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Text credit: Bitcoinist

Last updated on August 1, 2022