Could Shiba Inu (SHIB) Coin Lose Its Second-Place Spot to DOGS Token?
Shiba Inu (SHIB) coin has long held its ground as the second-largest meme coin behind Dogecoin (DOGE). However, the rise of Telegram’s DOGS token is shaking things up. Some are wondering if SHIB’s days in the number two spot are numbered. Even PEPE, the third-largest memecoin, is outperforming Shiba Inu in real trading volumes.
After less than a month of listing on exchanges, the DOGS token is not far behind both the Shiba Inu and PEPE coins in the meme coin space.
Dogs ranks on 8th place among meme coins. Source: CoinMarketCap Shiba Inu Coin: The Numbers Don’t Lie
Shiba Inu’s market cap sits at approximately $8.18 billion, but its trading volume is only about $263 million. It’s a clear sign of dwindling trader enthusiasm. In contrast, PEPE has a market cap of $3.28 billion but boasts a much higher trading volume of $798 million, signaling stronger market activity.
PEPE coin has already outperformed Shiba Inu coin. Source: TradingView
Meanwhile, DOGS token is emerging as a serious contender with a market cap of $778.6 million and a trading volume of $1.29 billion, even surpassing PEPE.
Dogs token 24-hour trading volume surpassed even Shiba inu and PEPE coins. Source: CoinMarketCap
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What Sets DOGS Coin Apart?
DOGS coin has a unique edge that neither Shiba Inu nor PEPE can claim—direct integration with Telegram. With access to Telegram’s 900 million users, DOGS token has the potential to gain rapid adoption and market traction. The ease of trading, tipping, and using DOGS crypto within the Telegram ecosystem means it’s not just another meme coin; it’s embedded in one of the largest messaging platforms globally. This provides a level of exposure that Shiba Inu (SHIB) can’t easily replicate.
What’s Holding DOGS Crypto Back?
While DOGS has momentum, it’s still relatively new and lacks the established community and ecosystem that Shiba Inu has built over the years. SHIB’s ecosystem, including ShibaSwap, NFTs, and ongoing projects, provides added utility beyond simple trading. Additionally, Shiba Inu coin’s community is fiercely loyal, and its developers are continually working to expand its use cases, which could keep DOGS at bay for now.
However, DOGS’ token high trading volume suggests it’s quickly gaining ground. If DOGS token continues to build on its early success, it could start to challenge Shiba Inu’s market position.
To defend its spot, Shiba Inu needs to reignite trader interest and expand its reach. While SHIB coin has been working on its Shibarium Layer-2 solution and other ecosystem enhancements, these have not yet translated into significant trading volume increases. Shiba Inu coin’s challenge is clear: come up with some new developments and keep the community engaged, or risk losing its place to faster-moving rivals like DOGS token.
The post Could Shiba Inu (SHIB) Coin Lose Its Second-Place Meme Coin Spot to Telegram’s DOGS Token? appeared first on CoinChapter.
