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Inspired by meme coins, the popular cryptocurrency Shiba Inu (SHIB) continues to experience developments. Shared posts reveal SHIB’s attempts to dethrone Dogecoin (DOGE) as the leading meme coin in the crypto market. A post emerging on platform X showcased the Shiba Inu team’s confidence in the project’s potential to outperform DOGE, hinting at possible secret developments in pursuit of this goal.
The History of Competition
The rivalry between SHIB and DOGE dates back in history. When Shiba Inu hit its all-time high price of $0.00008845 in October 2021, it briefly surpassed Dogecoin in market value.
However, after this peak in price, Dogecoin once again came to the forefront and reclaimed its position from SHIB. During this period, DOGE generally continued to be among the top ten cryptocurrencies, while SHIB maintained its place within the top 20 despite a decline.
There seems to be renewed hope within the Shiba Inu team about the meme coin’s potential to rise again in the sector. The strong community known as the “SHIB Army” and the ongoing development of the Shibarium blockchain network continue to instill confidence in the team about overtaking Dogecoin.
CryptoCom recently defined SHIB as the second most valuable meme coin, which indicates SHIB’s strengthening position. Following this announcement, the Shiba Inu team declared that reaching the top is only a matter of time, responding with “Today we’re second, but DOGE’s days are numbered.”
Current Status of Shiba Inu
The Shiba Inu team has also created an atmosphere of anticipation for upcoming developments, emphasizing significant progress. The statements align with the sentiments of many crypto enthusiasts who believe Shiba Inu has the necessary capabilities to surpass Dogecoin in the future.
Looking at the last 24-hour price, SHIB has seen a 4.5% increase, trading at $0.00002711. During this period, SHIB’s market capitalization also rose by 4.27%, reaching $16 billion. Meanwhile, SHIB’s trading volume experienced a 17% increase, amounting to $1.8 billion.
