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Shiba Inu is up 48 % in the last week, whilst Dogecoin is up only 26 %

Published by
Nonhlanhla P Dube

Shiba Inu has enjoyed an upward push in the recent week, with the memecoin’s returns standing at 48 %, while competitor Dogecoin only sees gains of roughly 26 %.

Shiba Inu doubles Dogecoin’s weekly returns

DOGE and SHIB have been attempting to regain their footing since the market-wide crypto meltdown earlier this month. However, the latter has been able to notice a greater recovery thus far.

Shiba Inu is currently selling at about R0,00019, up 48 % from the previous week. The graph below depicts the trend in memecoin value over the last five days.

Shiba Inu Cost Chart

The cryptocurrency’s price appears to have been on an upward trend in recent days 

As shown in the graph above, the DOGE cousin has already recovered from the crash and is up about 1.5 % in the last month. When it comes to Dogecoin, the OG memecoin’s price is currently hovering around R1.16, up 26 % in the last week.

Here is a chart that illustrates how the coin’s value has changed over the previous thirty days. According to the graph, Dogecoin has yet to fully recover from the market fall earlier this month.

Unlike SHIB, which has made positive gains over the last month, DOGE is still in the negative, with monthly returns of roughly -7 %.

Shiba Inu appears to have the original memecoin beat at this time period. But how do the coins compare over longer time periods, such as the last three months?

For the time being, it appears that both cryptocurrencies have produced identical results, with investors in both being roughly 50% underwater.

Looking at a broader timeframe of the last six months, memecoins have around the same returns of around negative 49 %.

SHIB trumps DOGE in terms of market capitalization

Any cryptocurrency’s “market capitalization” is defined as the total number of coins in circulation multiplied by the current price.

Dogecoin is now ranked #10 on the top crypto list, indicating that its market capitalization is the tenth greatest of all cryptos currently in circulation

The market capitalization of Dogecoin vs Shiba Inu

DOGE presently has a market capitalization of around R150 billion.
Despite recent higher profits, Shiba Inu remains thirteenth on the cryptocurrency list, three spots behind Dogecoin.

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Nonhlanhla P Dube

Nonhlanhla P Dube is a senior news reporter at Rateweb. Nonhlanhla is a student of International Relations at the University of South Africa. She reports primarily on personal finance and economics. You can contact her directly by email at nonhlanhla@rateweb.co.za

Published by
Nonhlanhla P Dube
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