Will Shiba Inu (SHIB) surpass Dogecoin (DOGE) this year?
Shiba Inu (SHIB) is working on a new burning mechanism, rumored to burn trillions of tokens per year. Both developments could push up asset prices significantly.
SHIB's market capitalization currently stands at $20.3 billion, while DOGE's is $23.8 billion. SHIB's market is only about 13% away from DOGE. Therefore, if the popular meme coin continues its upward trajectory, it could surpass DOGE in the rankings.
The price of Shiba Inu (SHIB) has increased 230% in the weekly chart, 272.1% in the 14-day chart and almost 300% over the last month. On the other hand, Dogecoin (DOGE) is up 75.5% in the weekly chart, 96.8% in the 14-day chart, and 112.6% over the last month.
However, both assets face a sharp correction on the daily chart. SHIB price has dropped 13.3% in 24 hours, while DOGE is down 9.7% in the same time frame.
Shiba Inu (SHIB) and Dogecoin (DOGE) are the most important and known meme coins. DOGE has the advantage of getting in first. DOGE debuted in 2013, nearly 11 years ago, while SHIB entered the ring in 2020, about 3 and a half years ago.
It is expected that this cycle SHIB's capitalization will reach 100 billion USD
