Shiba Inu (SHIB), once a small meme movement, is now ranked #13 by overall market capitalization according to Coinmarketcap. Shiba Inu is retailing at $0.00002695, with a 10% weekly decline despite Bitcoin hitting an all-time high. Shiba Inu's main competitor is Dogecoin, the 7th largest coin by market capitalization.

While the Shiba Inu vs Doge battle is not new, a newly released cryptocurrency presale in the GambleFi industry is attracting significant attention from both whale and retail investors. Rollbock (RBLK) has raised $7.2 million so far and aims to disrupt the gambling industry with a new protocol that rewards participants by sharing profits, bonuses, and APY staking.

Shiba Inu's Price Fund Appears to Be Bullish

Altcoins no longer follow Bitcoin's price movement pattern precisely. While Bitcoin recently surged above $105,000, Shiba Inu remains at a weekly and daily loss. However, meme tokens behave slightly differently and often experience exponential growth towards the end of a bull run.

Shiba Inu has underperformed compared to Dogecoin and other major coins in recent months, losing market position. This is a positive indicator as it signals more potential for price increases, with other altcoins reaching their peaks. Recently, Shiba Inu sent 250,000,000 tokens to a dedicated burn address, which could help improve its price as it enters the new year.

Has the price of Dogecoin reached its peak yet?

Dogecoin has had a strong year with a price increase of over 300%. It is trading at $0.40, not far from its ATH of $0.65. Its performance is related to the appointment of Elon Musk as the Head of Government Efficiency (DOGE). The price of Dogecoin is also frequently driven by tweets and support from Elon Musk.

For years, Dogecoin supporters have eyed the $1 mark as a target. However, this is only a 2.5x price increase from the current position, and market participants in general are not focused on these smaller multiples. Much of the hype has been priced into the market, making Shiba Inu a potentially better option. It may not be a Dogecoin killer, but Shiba Inu can certainly close the gap with its main competitor.

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