Shiba Inu Outperformed Dogecoin (DOGE), Hitting All-Time High Since Mid-May

Updated: Oct 7, 2021

Shiba Inu (SHIB) surged by over 94%, outperforming the legendary Dogecoin (DOGE).

Shiba Inu (SHIB) has amazed the crypto community with its galactic rally, rising more than 70% in the past 24 hours. Moreover, the memecoin daily volume has also surpassed $5 billion, according to CoinMarketCap.

Known as 'Dogecoin Killer,' Shiba Inu has managed to significantly outperform the original crypto-based memecoin, which is currently up 12% over the last 24-hour.

The price of SHIB skyrocketed from about $0.00000715 to a daily high of $0.00001545 on October 5. As a result, this became its all-time high since mid-May.

In addition, the impressive surge gives SHIB the spot of the fifth most-traded cryptocurrency just behind only Tether (USDT), Bitcoin (BTC), Ethereum (ETH), and the Binance USD stablecoin (BUS).

Following this, the Shiba Inu army thinks the crypto could surpass its May 10 all-time high of $0.00003791 in the coming days or weeks.

Note that an unknown SHIB whale purchased over 6 trillion of the assets days ago. After that day, SHIB started showing bullish signs and went on a roll and doubled its value, despite the recent TVL decline in Shiba Inu’s decentralized exchange (DEX).