Dogecoin and Shiba Inu in Duel for 12th Largest Cryptocurrency, Who Wins?

Dogecoin

Dogecoin and Shiba Inu fight for 12th largest crypto as aerial combat returns, who wins?

Dogecoin and Shiba Inu are presently slugging it out for the 12th largest cryptocurrency, as seen from CoinMarketCap data. A “dogfight” is currently taking place between meme tokens Dogecoin (DOGE) and Shiba Inu (SHIB) as both are now paw-to-paw on the crypto rating chart. As of press time, Dogecoin was ranking 12th, while Shiba Inu ranked 13th on CoinMarketCap.

Dogecoin and Shiba Inu share a similar experience as both were inspired by the Japanese breed Shiba Inu. Both also have loyal fan communities, as evidenced by active social media channels, and growing acceptance of payments and transactions. Dogecoin, however, remains the ‘first parody coin’ launched in 2013, while Shiba Inu entered the scene in 2020.

Who wins the crypto dog fight?

On Dec. 14, Tesla CEO and Time magazine’s ”Man of the Year,” Elon Musk, tweeted the electric car maker’s plans to make some merchandise buyable with Dogecoin. This came after Musk stated that Dogecoin was better suited for transactions than Bitcoin.

As a result, the DOGE price rose almost 48% to highs of around $ 0.228 as investors rushed to buy the dog-themed token. Dogecoin therefore refused to break out of the top 10 cryptocurrencies in terms of market capitalization, as investors made profits.

Shiba Inu developer Shytoshi Kusama, in response to Tesla’s Dogecoin acceptance, tweeted about Shiba Inu’s growing acceptance through BitPay, Newegg and hundreds of other retailers.

Flexa, a cryptocurrency payment company backed by the Winklevoss twins, recently added support for Shiba Inu. This allows Shiba Inu to be accepted at GameStop, Lowe’s and Nordstrom, and other merchants supported through the Flexa supported by Gemini.

Dogecoin and Shiba Inu payments are becoming more widely accepted, suggesting that dog meme culture is here to stay. Dogecoin traded at $0.18 while Shiba Inu was seen at $0.0000336 as of press time.

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