The Doge Fight: Shiba Inu Beats Dogecoin's Volume Two Times Over

Considered a contender in the memecoin space, Shiba Inu SHIB/USD has some industry experts believing it to be beating market leader Dogecoin DOGE/USD after reporting a 24-hour volume about two times higher than Dogecoin.

What Happened: According to data provided by the leading crypto data platform CoinMarketCap, Shiba Inu reported a trading volume of $5.36 billion over the last 24 hours, while Dogecoin saw only $1.82 billion. This means today's Shiba Inu volume is more than 194% — or nearly double — than reported by Dogecoin.

See Also: DOGECOIN VS. SHIBA INU

Such a major win in volume is even more significant when considering Shiba Inu's total market cap is just 40% of Dogecoin's — less than half. While Dogecoin is the tenth top cryptocurrency with a total network value of $30.8 billion, Shiba Inu is 16th with a market cap of $12.3 billion.

SHIB Price Action: According to CoinMarketCap data, as of press time Shiba Inu is trading at $0.00003093 after seeing its price increase by over 16.76% over the last 24 hours as of publication Monday. 

IImage by Petra Göschel from Pixabay 

Posted In: CryptocurrencyMarketsmemecoin
We simplify the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...