Dogecoin is seeing a massive increase in price of over 35% today. This puts DOGE above the Shiba Inu token again.
DOGE is making a comeback
Yesterday, the DOGE price fell 10 percent to a low of USD 0.237. This happened in a market-wide correction that hit almost all cryptos except SHIB. But the roles seem reversed today. The Dogecoin price has risen by 36% today to a high of $0.3305.
Many DOGE investors were frustrated yesterday after SHIB caught up with the original memecoin after rising 78% to an All-Time High of $0.00008616. However, at the time of writing, SHIB is down 25% to $0.0000659. This puts SHIB back under Dogecoin.
Dogecoin vs Shiba Inu
The direct cause of DOGE’s rapid growth does not appear to be caused by a tweet from Elon Musk this time. The biggest cause seems to be the fact that SHIB investors take their profits and reinvest them in DOGE. Also, large whales seem to have come into play today.
SHIB’s market cap has fallen to $38 billion. The capitalization of Dogecoin is currently around $41 billion. That means that DOGE is now in 8th place of most valuable cryptos and SHIB in 10th place. So the flip was short-lived.
Even so, Dogecoin still remains some 59% below its All Time HIgh of $0.73, which was reached in May 2021.
