Memecoin Battle: Shiba Inu’s Monthly Earnings 18% While Dogecoin’s Only 2% Profits

Memecoins Shiba Inu and Dogecoin are both looking to end the month in green, but SHIB’s gains have been significantly higher than DOGE’s thus far.

Shiba Inu looks to end July with 18% profit while Dogecoin posts 2% up

After going through months of bearishness, holders of the two largest memcoins in the market may finally find relief as the cryptocurrency is about to post gains for the month.

First, let’s look at the DOGE data. Currently, the original memecoin price is hovering around $0.0704, up 4% in the past seven days. The chart below shows the trend in the value of the cryptocurrency over the past month.

Looks like the price of the coin hasn't changed much during this period | Source: DOGEUSD on TradingView

As you can see from the chart, while Dogecoin noticed some significant volatility during July, it still ended the month just 2% above the initial price.

Upon verification on a larger scale, such as the past three months, the cryptocurrency is found to be nearly 50% in the red.

As for the Shiba Inu, it is about $0.0001208 At the time of writing. The weekly gain of memecoin DOGE-cousin is currently 3%.

Now, here’s a chart showing the trend in SHIB’s value over the past month:

Shebaa Inu price chart

The value of the crypto seems to have enjoyed some growth in July | Source: SHIBUSD on TradingView

Unlike Dogecoin, Shiba Inu has made some significant recovery over the past month as the coin has accumulated 18% in gains during this period.

But when looking at the larger time period of the past three months, SHIB is at a similar loss because its value is now less than 45%.

SHIB vs. DOGE by market capitalization

In terms of cryptocurrency market tops, Dogecoin still easily outperforms its cousin in this segment as memecoin is currently ranked 10th on the entire crypto cap list.

Below is a table showing how Shiba Inu compares to the original memecoin in market capitalization.

Shiba Inu vs Dogecoin

DOGE currently has a market cap of over $9 billion | Source: CoinMarketCap

SHIB’s market capitalization appears to be 16th in the overall crypto market at the moment, and 6 places behind DOGE.

Back in October of last year, Shiba Inu noticed an unprecedented rally as the coin gained 1,000% over 30 days at some point. Subsequently, memecoin also found its way into the top ten list and consistently competed with Dogecoin for the ninth place.

However, since exiting the top ten shortly thereafter, crypto hasn’t come close to competing for a place there yet. We’ll likely see another big rally before SHIB can challenge DOGE again.

Featured image from Quantitatives on Unsplash.com, charts from TradingView.com

Leave a Reply

%d bloggers like this: