Shiba INU’s (SHIB) price in recent times has been outperforming its closest competitor Dogecoin by surging nearly 20% since the beginning of the month. On the other hand, the Dogecoin price is also following and recording decent gains. However, the SHIB price has gained significant momentum that may assist the price to maintain a significant upswing ahead.
But will DOGE price remain on the back foot or offer tough competition for SHIB price?
Dogecoin, despite its inception just before the 2017-18 bull run & crash, gained huge fame during the 2021 bull run. The bull run began with the DOGE price rally that marked an 800% jump in a single day. Moreover, the support from Tesla CEO, Elon Musk, made the asset the highest performer of 2021 which surged more than 100x in a matter of 6 to 8 months.
However, ever since the DOGE price smashed the highs, it fell deep into the bearish well, unable to recover. On the other hand, SHIB price also underwent a similar rally but has been displaying constant spikes of let.
Now when Shiba INU & Dogecoin are trading at 13th & 11th positions respectively, the below-mentioned metrics indicate, that SHIB to outperform DOGE very soon.
- The Market capitalization of Shiba INU has risen and has maintained an upper hand, compared to that of Dogecoin
- The Daily Active Addresses of Shiba INU have spiked high constantly compared to DOGE, that has witnessed just a couple of upswings
- Shiba INU in the past couple of months has made a strong social impact and due to this has maintained a larger social dominance compared to that of DOGE.
If Shiba INU price maintains the current momentum while Dogecoin continues to trade with a lowered pace, then probably SHIB may outperform DOGE to enter the top 10 assets very soon.