Shiba Inu Coin had an impressive rally in the month of October. The ‘hodlers’ of the meme-inspired cryptocurrency are more bullish than ever.
With SHIB hitting continuously all-time-highs, it has now become the 11th highest valued cryptocurrency in the world. However, it is very close to overtaking it’s dog-inspired rival Dogecoin.
All-Time-High
Dogecoin had an excellent run in the past one year but it went downhill after the entry of Shiba Inu. After hitting an all-time-high on October 24, SHIB fell following Elon Musk’s tweet when he said that he does not hold any of the dog-themed crypto SHIBA Inu.
Shiba Inu recovered from the fall following Elon Musk’s tweet and is currently trading at all-time-high levels. It’s market capitalization is $23,368,532,420 at the time of writing this article. If the current upward rally in Shiba Inu cryptocurrency continues, we can see it overtake Dogecoin which is currently ranked as the 10th most valued crypto on the planet.
SHIB Vs DOGE Market Capitalization
The market capitalization of Dogecoin is upward of $30,000,000,000. Shiba Inu community on Twitter and Reddit has been rooting for their favorite cryptocurrency to take over Dogecoin.
Investing in cryptocurrencies has caught momentum off late as many people doubled or 10x their money in a short span of time. However, these coins are not free of risk and if you plan on buying any of the cryptocurrency in circulation, do consult your financial advisor or put in proper research.
Do you think that the SHIBA Inu cryptocurrency will overtake it’s arch rival? Tell us your thoughts in the comments.
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