Shiba Inu market cap is on course to reach Dogecoin.
Shiba Inu’s (SHIB) market cap is rapidly approaching Dogecoin’s (DOGE), with the former currently sitting around $20.5 billion, just 17% below Dogecoin’s market capitalization of $24.1 billion.
Traders optimistic about Shiba Inu potential
Over the past week, meme cryptocurrencies have experienced a significant surge. Shiba Inu often hailed as the so-called ‘Dogecoin Killer,’ has climbed several positions in the top 100 rankings, placing itself just below its rival, DOGE.
In the past 7 days, Shiba Inu has seen a 62% price incline and a 280% surge over the past month. In contrast, Dogecoin has experienced a 19% price increase in the last week and a 109% price surge over the month.
On October 29, 2021, Shiba Inu experienced a remarkable surge, peaking at over ten times its previous value, resulting in a market capitalization of $41 billion.
Despite a significant decline in market capitalization to $5.97 billion as of December 8, 2023, Shiba Inu continues to hold a top-ten position among meme cryptocurrencies by this metric, trailing only behind Dogecoin.
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