Shiba Inu (SHIB) has experienced a meteoric rise in recent days. This surge has positioned it as a serious contender for the title of top meme coin, currently held by Dogecoin (DOGE).
The meme coin’s lead developer, Shytoshi Kusama, recently fueled speculation with a cryptic post about beating Dogecoin in market capitalization, which he sees as the next target for SHIB. The tweet, accompanied by the hashtag #DOGECOINKILLER, suggests a growing rivalry between the two meme coins.
Closing in fast… may thy arrows fly swiftly past the cars they put in our way back to their fortifications!#SHIBARMY #DOGECOINKILLER
— Shytoshi Kusama™ (@ShytoshiKusama) March 5, 2024
Read Also: If History Repeats, Shiba Inu (SHIB) Could Surge 2,168% in One Week
SHIB’s Impressive Trajectory
SHIB has climbed to the tenth position in the market cap rankings, currently boasting a market cap of approximately $21.3 billion. This places it just behind Dogecoin (DOGE), whose market cap sits at $24.1 billion. The gap between the two coins is less than $3 billion, a stark contrast to the situation just nine days ago.
Back then, Shiba Inu languished in eighteenth place with a market cap under $6 billion. Dogecoin, on the other hand, enjoyed a comfortable ninth position with a market cap of $12.33 billion.
Both meme coins have climbed significantly, and SHIB is hot on Dogecoin’s trail, looking to claim the position of the top meme coin in the crypto market. SHIB has defied the predictions of top AI tools that it would not perform as well as DOGE, and surpassing DOGE will be the final statement it needs to prove the haters wrong.
Community Optimism and Speculation
Kusama’s post has ignited optimism within the SHIB army. Many members view SHIB’s ascent as inevitable, expressing confidence in its ability to dethrone DOGE. This sentiment is evident in social media reactions, with users advocating for continued growth and unwavering support.
While SHIB’s current trajectory is undeniably impressive, the question remains: how quickly can it surpass DOGE? Several factors will influence the outcome of this competition. Continued investor confidence, project development milestones, and overall market trends will all play a role in determining the ultimate victor.
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Read Also: Elon Musk Raises XRP and SHIB Armies’ Enthusiasm With His Recent Cryptic Post On X
Will SHIB Outperform DOGE?
Shiba Inu has surpassed multiple prominent cryptocurrencies and has reached the top ten for the first time in a long time. The meme coin currently has momentum, and after a massive 228.61% surge over the last seven days, this might finally be SHIB’s time to claim the top spot among meme coins.
Additionally, SHIB’s daily trading volume currently surpasses DOGE’s, with SHIB sitting at $12.77 billion compared to DOGE’s $8.1 billion. SHIB’s volume also surpassed the combined volume of XRP, BNB, and SOL by over a billion dollars, drawing praise from Kusama and boosting the community’s confidence.
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