Shiba Inu cryptocurrency has been making waves in the blockchain space recently. The dog-inspired cryptocurrency hit consecutive all-time-highs making it one of the best cryptos to invest in.
Shiba Inu was launched as a competitor to another meme coin named ‘Dogecoin’. It was marketed as the ‘Doge Killer’ and now it seems that the purpose of Shiba Inu token has been completed.
SHIB Vs DOGE – Market Cap
Recently, we reported that Shiba Inu was on track to overtake Dogecoin and become the world’s 10th most valuable cryptocurrency by market capitalization. The cryptocurrency witnessed a 700% rally in the month of October.
Today, it has accomplished it’s motive to ‘kill Dogecoin’ and overtake it in terms of market cap. Shiba Inu has been ranked among the top 10 cryptocurrencies after ranking at the 9th position, one above from its rival Dogecoin.
The market cap of Shiba Inu, as of today, is $38 Billion while that of Doge Coin is $35 Billion. The SHIB community is massively optimistic about the future price growth of their favorite crypto token and prefer ‘holding’ their coins for the upcoming months.
Influencers Hyping The Craze
Shiba Inu and Dogecoin both have been the center of crypto enthusiasts who like to take their investment advices off social media platforms like Twitter and Reddit. Influencers also jumped in to cash in on the craze. YouTuber and Instagram super model Amanda Cerny called herself the ‘Dogemom’ and also revealed the income she made by trading Dogecoin. She said that she always prefers to get paid in cryptocurrencies rather than the traditional medium of bank and cash.
Other influencers and internet celebrities have also voiced support for Shiba Inu as well as Dogecoin.
Do you hold any SHIB? What is your opinion about the whole story? Tell us your thoughts in the comments.