SHIB vs DOGE: Shiba Inu Up 48% Over Past Week, While Dogecoin Sees Only 26% Gains
Over the last week, Shiba Inu has seen an upwards push as the returns of the memecoin stand at 48%, while competitor Dogecoin only observes gains of about 26%.
Shiba Inu Manages Double The Weekly Returns Of Dogecoin
Since the market-wide crypto crash earlier in the month, both DOGE and SHIB have been trying to regain their footing. However, the latter has so far been able to observe the greater recovery.
Currently, Shiba Inu‘s price is trading around $0.00001187, up 48% in the last week. The below chart shows the trend in the memecoin’s value over the past five days.
The price of the crypto seems to have observed sharp uptrend over the last few days | Source: SHIBUSD on TradingView
As you can see in the above graph, the DOGE cousin has already recovered from the crash and is up around 1.5% over the last month.
Related Reading | Bitcoin Trading Volume Nears One-Year Highs As Volatile Market Continues
Now coming to Dogecoin, the OG memecoin’s price is floating around $0.0732 at the time of writing, up 26% over the past week.
Here is a chart that shows how the value of the coin has changed during the period of the last thirty days:
Looks like DOGE too has observed some recovery recently, but not as great as SHIB's | Source: DOGEUSD on TradingView
From the graph, it’s apparent that Dogecoin still hasn’t completely recovered from the market crash earlier in the month.
Unlike SHIB, which has managed positive gains over the past month, DOGE still finds itself in the red with about -7% monthly returns.
So, it seems that Shiba Inu has the original memecoin beat during this period. But how do the coins compare during longer timespans, like say, the last three months?
For this period, it looks like both the cryptocurrencies have gotten pretty similar returns, with investors of both being around 50% underwater.
Looking at an even wider timescale of the past six months, the memecoins again have about the same returns of around negative 49%.
SHIB Vs DOGE In Terms Of Market Cap
The “market capitalization” of any crypto is defined as the total number of coins in circulation multiplied by the current price.
Dogecoin is currently #10 on the top crypto list, meaning that its cap is the tenth largest out of all cryptos in the market right now.
The below table shows how the market capitalizations of SHIB and DOGE compare with each other.
DOGE currently has a cap of about $9.5 billion | Source: CoinMarketCap
As you can see above, despite the stronger returns recently, Shiba Inu is still thirteenth on the crypto list, three spots behind Dogecoin.
Featured image from Coinhako on Unsplash.com, charts from TradingView.com