Shiba Inu (SHIB) and Dogecoin (DOGE), the two most prominent meme coins by market capitalization, have been competing for dominance since the last bull cycle. Now, two major electric vehicle manufacturers, Tesla and DeLorean Motors, may join the race, each supporting their favored cryptocurrency: SHIB or DOGE.
Support from Tesla and DeLorean
Elon Musk the founder and CEO of Tesla, has repeatedly expressed his support for #DogecoinâŹâ© . Tesla even accepts DOGE as a payment method on its website. On the other hand, DeLorean Motors has hinted that it might support payments in Shiba Inu (SHIB) as a response to Tesla's adoption of Dogecoin.
Lucie, the marketing head of #Shibalnu , highlighted the possibility on the social network X (formerly Twitter), stating that DeLorean could add support for SHIB. According to her, this move could significantly boost the adoption and popularity of Shiba Inu. She also emphasized that DeLorean is a serious player in the electric vehicle space and doesnât take its actions lightly.
Lucie on DeLorean's Support for SHIB
Lucie mentioned that if DeLorean does indeed support Shiba Inu, âit could be a game changer for both the brand and the Shib community.â She added, âThe future is looking more exciting by the minute! Buckle up, Shib army â something big might be coming soon!â
Meme Coin Market Capitalization
According to data from CoinMarketCap, the total market capitalization of the meme coin sector has reached $59.2 billion, a 4.7% increase over the last 24 hours. SHIB and DOGE dominate the sector with valuations of $16.9 billion (SHIB) and $10.7 billion (DOGE).
SHIB vs. DOGE Price Movements
At the time of writing, Dogecoin is trading at $0.1158, up 2.6% in the last 24 hours and 7.94% over the past week. Dogecoin has increased by 9.86% in the last month but remains 84.33% below its all-time high of $0.7376.
Meanwhile, Shiba Inu is trading at $0.00001831, up 1.8% in the last 24 hours and 5.7% over the past week. Over the past 30 days, SHIB has surged by 33.1%, and since October 2023, it has risen by a massive 161.5%. However, it is still 79.26% below its all-time high of $0.00008845.
The race for dominance between these meme coins continues, and with the support of major companies like Tesla and DeLorean, new twists may be on the horizon for their story.
#Memecoinsđ€đ€ #TeslaDogecoin , #ElonsMusk
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