Shiba Inu Outperforms Dogecoin As Meme Coins See Rekindled Social Media Interest

Meme coins were in the crosshairs of social media users on Sunday night, but debutant dog-themed coins gained more in trending online than veteran ones.

What Happened: Among meme coins, Dogecoin’s (DOGE) gains were bested by SHIBA INU (SHIB). While DOGE was up 3.33% over 24 hours to $0.32, SHIB was up 8.91% in the same period at $0.000006846.

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DOGE was down 6.65% and 1.12% against BTC and ETH respectively over 24 hours. SHIB traded lower against BTC by 2.6%, while it rose 3.14% against ETH in the same period.

However, both DOGE and SHIB did not appear on Stocktwits' list of top 10 trending streams, a measure of social media popularity.

The top meme coin on that list was Dogelon Mars (ELON), which took the third spot behind Starbucks Corporation SBUX and Corsair Gaming Inc CRSR.

Other trending meme coins included Akita Inu (AKITA), Pussy Financial (PUSSY), and SafeMoon Inu (SMI), as per the Stocktwits’ arranged rankings.

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AKITA traded 10.53% higher at $0.000001454 at press time. The coin rose 6.43% against ETH and 0.42% against BTC over 24 hours.

PUSSY was up 0.51% at $0.00006399, while SFI traded 6.6% higher at 0.000001998 over the course of 24 hours. BTC traded 9.64% higher at $39,160.19 and ETH traded 4.27% higher at $2,508.23 at press time over 24 hours.

Why It Matters: A number of Dog-themed cryptocurrencies have emerged so far this year capitalizing on the popularity of DOGE and the push given to it by the tweets of Tesla Inc TSLA CEO Elon Musk. 

SHIB emerged as a so-called Dogecoin killer this year along with a few other coins. At press time, SHIB, with a market cap of $2.66 billion, was ranked 41 on CoinMarketCap’s list of cryptocurrencies arranged by market capitalization.

A meme coin that has combined various facets related to Musk is ELON. It is a portmanteau of Dogecoin, Elon Musk, and Mars.

“Internet conquering” cat-themed cryptocurrency, Catge Coin (CATGE), saw a fair bit of upwards price action last week as well.

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