As Bitcoin’s crash has dragged most alternative cryptocurrencies down, it has caused Dogecoin to drop more than 8% in the last 24 hours. On the other hand, Shiba Inu (SHIB) appreciated 40% in the same period. Making the currency surpass its rival.
Although a year ago it was impossible to believe that a dog coin would have more support than the Doge, today was marked by the strength of the enthusiasts who placed the Shiba Inu among the top 10 cryptocurrencies.
Just as SHIB kept Doge in their sights for over a year, other similar projects are looking for alternatives to attract public attention. This is the case with Floki with a strong advertising campaign and other tokens.
New generation of meme currency
In a financial world full of meme coins like the Real, which only have value because of their forced course, it’s only fair that meme coins worth billions of dollars.
With the fall of DOGE this Wednesday and the continuous upward movement of SHIB, today Shiba Inu passed to Dogecoin by market value. According to data from CoinGecko, today they are worth 187 and 178 billion reais, respectively.
This was an expected move, as we reported in yesterday’s article, Shiba Inu is close to overtaking Dogecoin, after all not even Elon Musk was able to calm down Shina Inu by saying he didn’t have this coin.
Now SHIB, created just over a year ago, is already among the 10 largest cryptocurrencies in the world. Today, she is close to important projects such as Polkadot and Solana, besides having surpassed several others.
The year 2021 was marked by the popularization of cryptocurrencies memes, being possible to find tokens and coins of several different breeds of dogs and even other animal species such as cats.
Some of them, like Floki, are going further to try to gain market share and convert Doge and Shiba Inu lovers. This Wednesday Floki launched an advertising campaign on public transport in London.
Despite this, the two biggest meme coins remain far removed from all the others. The closest are BABYDOGE and ELON which occupy positions 184 and 213, respectively, by market value.
Finally, now SHIB must defend its new territory and reign as the world’s largest dog cryptocurrency. And she needs to keep an eye on not just Doge but many others.