Dogecoin has had a growth of 2% month over month, which is much lower than Shiba Inu’s growth of 18%.
Even though both Shiba Inu and Doge are aiming to finish the month in the black, SHIB has racked up far more profits than DOGE so far.
Holders of the two biggest memecoins on the market may finally find respite after months of downturn, as the cryptocurrencies are poised to report increases for the month.
First, we’ll take a look at DOGE’s data. Over the last week, the price of the original memecoin has risen by 4% to $0.0704. The chart below depicts the month-over-month change in the cryptocurrency’s value.
Although Dogecoin saw substantial volatility in July, as seen in the graph, it ended the month barely 2% over its original price.
Shiba Inu, in contrast to Dogecoin, has recovered significantly over the past month, gaining 18% within that time span.
However, when it comes to total market capitalizations between the two cryptocurrencies, Dogecoin has its relative memecoin by a wide margin.
The table below compares the market capitalisation of Shiba Inu to that of the original memecoin.
At the time of writing, SHIB seems to be the 16th biggest cryptocurrency by market capitalization, behind only DOGE by six positions.
An incredible rise took place in October of last year, when the currency gained 1000 percent in 30 days at one point. Finally, Dogecoin and memecoin both made it into the top ten and were continually vying for the 9th spot in the top 10.
However, since then, the crypto hasn’t even come close to fighting for a slot in the top 10. Before SHIB to challenge DOGE once again, it is probable that another significant rally will be required.