- Shiba Inu’s market cap is less than 10% from hitting that of Dogecoin.
- SHIB’s price could reach $0.000050 if buying pressure continues to increase.
- Dogecoin’s momentum became bearish, indicating a likely drop to $0.13.
As the crypto market recovers from March 5’s price crash, interesting things seem to be happening at the meme coin end of the market. This time, it’s with Shiba Inu (SHIB) and Dogecoin (DOGE).
Before the recent collapse, both DOGE and SHIB registered significant hikes, which were still evident at press time. SHIB’s price increased by 234% in the last seven days and has helped the project jump to number 10 on the market cap standings.
DOGE, on the other hand, rose by 71% within the same period and remained the 9th most valuable cryptocurrency. At press time, Shiba Inu’s market cap was $21.7 billion, while Dogecoin was $23.61 billion, indicating a less than 10% difference between them.
If SHIB continues to outperform DOGE, then flipping could be on the cards. However, it is important to evaluate the potential from a technical perspective.
Shiba Inu (SHIB)
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