Shiba Inu (SHIB) has no doubt emerged as one of the most exciting crypto prospects of this year’s bull season, even as we continue to anticipate the Bitcoin halving event that will happen in exactly 36 days from now, according to CoinMarketCap’s countdown.
After registering consecutive remarkable market statistics in the past few weeks, Shiba Inu (SHIB) has positioned itself closer to overtaking Dogecoin (DOGE) as the king of all meme coins.
Consequently, SHIB and DOGE enthusiasts’ rivalry seemed re-ignited, with both crypto communities engaging each other in a battle of relevance, especially in the meme coin space.
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KuCoin Sparks New Debate
Amid the tension and clamor hovering around which of the dog-inspired projects will eventually emerge as the ultimate meme coin, KuCoin, a reputable trading platform, recently waded into the discussion via a tweet on its official X handle.
The trading platform noted that any project that will become the leader of the meme coin market must have the loudest community.
In a nutshell, KuCoin’s assertion implies that community support will serve as the most significant propeller for either Shiba Inu (SHIB) or Dogecoin’s (DOGE) domineering relevance in the meme coin space.
Shytoshi Kusama Reacts
Taking to X, Shytoshi Kusama, the Shiba Inu development team lead, quoted KuCoin’s tweet, countering the exchange’s assertion.
Per the lead developer, KuCoin’s assertion is false and aimed at gathering impressions instead of nailing facts. Stating the basics on which a crypto project will outperform its peers, Kusama highlighted technological advancement, vision, supporters, partners, and execution.
No. The community with the strongest tech, vision, plan, supporters, partners, and execution will. #SHIB But if you wanted some impressions why not say hi? https://t.co/jc6qJ11GJ6
— Shytoshi Kusama™ (@ShytoshiKusama) March 6, 2024
SHIB VS DOGE Market Statistics
According to Shiba Inu and Dogecoin’s market statistics on Coincodex, the canine-themed crypto assets are changing hands at approximately $0.000032 and $0.17, respectively.
Both coins follow each other on the crypto assets ranking, with Dogecoin occupying the ninth place while Shiba Inu is directly below it.
With Shiba Inu’s meteoric rise from the 18th spot up to the 10th position, it is safe to say that the coin will leap over Dogecoin in the long run. For context, Dogecoin and Shiba Inu boast market caps of $24.68 billion and $19.15 billion, respectively.
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Meanwhile, other DOGE market variables indicated that the number one meme coin recorded a 143% increment from the previous year, outperforming 57% of the top 100 cryptocurrencies within the same year.
On the other hand, SHIB registered a 199% selling price increment from last year, surpassing 63% of the top 100 cryptocurrencies within the same period.
How events unfolds remains to be seen. However, the above market statistics could imply that SHIB might have taken an early lead over DOGE. It is left to see how well it gets to sustain the momentum.
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