The Doge Fight: Shiba Inu Beats Dogecoin's Volume Two Times Over

Considered a contender in the memecoin space, Shiba Inu SHIB/USD has some industry experts believing it to be beating market leader Dogecoin DOGE/USD after reporting a 24-hour volume about two times higher than Dogecoin.

What Happened: According to data provided by the leading crypto data platform CoinMarketCap, Shiba Inu reported a trading volume of $5.36 billion over the last 24 hours, while Dogecoin saw only $1.82 billion. This means today's Shiba Inu volume is more than 194% — or nearly double — than reported by Dogecoin.

See Also: DOGECOIN VS. SHIBA INU

Such a major win in volume is even more significant when considering Shiba Inu's total market cap is just 40% of Dogecoin's — less than half. While Dogecoin is the tenth top cryptocurrency with a total network value of $30.8 billion, Shiba Inu is 16th with a market cap of $12.3 billion.

SHIB Price Action: According to CoinMarketCap data, as of press time Shiba Inu is trading at $0.00003093 after seeing its price increase by over 16.76% over the last 24 hours as of publication Monday. 

IImage by Petra Göschel from Pixabay