Why Is Shiba Inu Outperforming Dogecoin Today?

Dogecoin DOGE/USD is trailing rival meme cryptocurrency Shiba Inu SHIB/USD in terms of 24-hour price gains.
What Happened: SHIB traded 3.84% higher over 24 hours at $0.0000075, while DOGE was down 1.47% at $0.22 in the same period.

See Also: How To Buy Shiba Inu (SHIB)

Against major cryptocurrencies Bitcoin BTC/USD and Ethereum ETH/USD, SHIB rose 3.98% and 6.42% in 24 hours respectively.

The picture gets murkier when longer-term price action is taken into consideration. SHIB has declined 17.52% for the week, while DOGE has fallen 11.12%.

Over the last 90 days, SHIB has risen 5.6% and DOGE has fallen 7.69%.

Why It Matters: This week, Shiba Inu said on Twitter that the token has added 100,000 new holders in the last three months.

See Also: ​​Institutional Investors Are Preferring Ethereum Over Bitcoin, Says JPMorgan

The project tweeted news surrounding a petition urging Robinhood Markets Inc HOOD to onboard the coin on its trading platform.

Robinhood List $SHIB? 185,000 People Hope So!!!

Let's go! ... and let them hear our woof woof!!#SHIB #SAFETREES $TREES $LEASH $BONEhttps://t.co/OE1zdSqgMX

— Shiba Inu (@ShibainuCoin) September 23, 2021

Last week, SHIB was listed on Coinbase Global Inc’s COIN platform, while it had been listed earlier on Coinbase Pro.

Even though SHIB has bested DOGE over 24-hours in price action, the latter saw more mentions on Twitter than the former.

SHIB was mentioned in 902 tweets, while DOGE was mentioned in 1,269 tweets, as per Cointrendz data. 

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