After the explosive price performance of the popular meme-inspired cryptocurrency Shiba Inu (SHIB) today, the price of this coin has started to become much more attractive not only compared to USD but also against its main rival, Dogecoin (DOGE).
Today, SHIB has finally surpassed the $0.00003 mark, which is a significant milestone for the cryptocurrency and shows a 16% increase throughout the day. Interestingly, the price surge of the Shiba Inu token did not occur alongside the broader cryptocurrency market and didn't even correlate with the meme cryptocurrency segment, but happened individually.
Even DOGE, the leading coin in the meme segment in recent weeks, is having a quiet Sunday on the price chart.
As a result, the price ratio of SHIB to Dogecoin reached 0.0000733 DOGE, the highest since the first decade of November. This fall, the Shiba Inu token experienced a painful 68.36% drop against DOGE, and today's results could revive the competitive story between these two giants of meme coins.
The all-time high of SHIB remains at 0.00029 DOGE, and the last time this token reached this milestone was in March, when the Shiba Inu token surged 400% in just a few weeks. Currently, it's time for Dogecoin to shine, but SHIB's recent price increase raises the idea of a catch-up game.
If this is true, market participants will see it in the coming days. But since there is still room for over 200% growth of SHIB compared to DOGE, this is definitely something to watch. Especially as the market has witnessed the price increase of the Shiba Inu token this year.
