Shiba Inu outperforms Dogecoin by doubling its gains

Shiba Inu has outperformed Dogecoin once again this week, gaining roughly 43%, more than double DOGE's 14% increase.

In the last 5 days, Shiba Inu has outperformed Dogecoin by a factor of two.

After a period of downward movement, both SHIB and DOGE have recently experienced a significant uptrend.

While Dogecoin has made significant gains over this time, Shiba Inu has surpassed the original memecoin by a factor of two.

SHIB's price is hovering around $0.00003333 at the time of writing, up by over 43% in the last 7 days.

Even though Shiba Inu has made some incredible gains in the previous week, the memecoin is still down about 10% in the last month. As a result, the coin still has a long way to go in terms of recovery.

Dogecoin, on the other hand, has increased by 14%t in the last seven days and is presently trading at $0.157. These gains are less than half of what SHIB has amassed during the same time frame.

DOGE, on the other hand, has only dropped 1% in the last month. Here's a graph that illustrates the memecoin's price trend.

This indicates that Dogecoin's price movement has been somewhat stagnant recently, as the coin has generally consolidated sideways overall.

In terms of the market cap, neither of the memecoins are in the top ten list right now. The below table shows where SHIB and DOGE stand among the wider crypto market.

Overall, DOGE is sitting at the 11th place right now, while SHIB is 14th. Last year, there was a brief period where the two memecoins were battling each other for the 9th spot in the list.