Dogecoin Vs Shiba Inu: Two Meme Coins Fight for Dominance

Dogecoin and Shiba Inu contest each other’s dominance in the crypto market.
At the time of writing, Shiba Inu price is at $0.00006791, according to CoinGecko.
At the time of writing, Dogecoin price is at $0.3244, according to CoinGecko.
Dogecoin and Shiba Inu hold the ninth and tenth spot, respectively, in terms of market capitalization.

The crypto space has gone bollocks, as some would suggest, as two of the most popular meme coins Dogecoin and Shiba Inu battle for dominance.

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SHIB/USDT 1-day chart (source: TradingView)

As seen on the above chart, Shiba Inu (SHIB) has pumped so hard from $0.00001 until $0.00003. To the surprise of everyone, the token did not stop there. SHIB price continued to pump until $0.000088, before retreating to the $0.00006 territory.

For about a day, Shiba Inu actually surpassed Dogecoin in terms of market capitalization. At the time of writing, Shiba Inu price is at $0.00006791, according to CoinGecko.

Shiba Inu’s ridiculous pump has grabbed the attention of the crypto space. Some investors claimed to have earned incredible profits from the token.

Meanwhile, Dogecoin (DOGE) started picking up pace and retook its valuable position from Shiba Inu.

DOGE/USDT 1-day chart (source: TradingView)

In a span of one day, DOGE price surged to $0.33 from the $0.2 level. We can observe that the Simple Moving Averages (SMA) are way below the trading price at the moment. At the time of writing, Dogecoin price is at $0.3244, according to CoinGecko.

As last seen, Dogecoin holds the ninth place in terms of market capitalization, while Shiba Inu is next.

In other news, Bitcoin price is attempting to retake the $60,000 support level from the bears. This price performance is underwhelming considering that El Salvador has bought 420 bitcoins from the recent dip.