Shiba Inu has declared its intention to surpass Dogecoin and become the reigning “king of the meme.” This announcement comes after a trading platform revealed that Shiba Inu has become the second most valuable meme coin. The battle for dominance in the meme market is heating up, and Shiba Inu is confident in its ability to dethrone Dogecoin. Shiba Inu’s official X account, Shib, warns that it has secret weapons, such as the Shiba Army and Shibarium, that will help it surpass Dogecoin and claim the top spot.
Shiba Inu recently made an attempt to overtake Dogecoin but was unsuccessful. Dogecoin launched a surprise move that placed it among the top ten largest cryptocurrencies by market cap, trailing only Dogecoin by $3 billion. Currently, SHIB is the 11th largest crypto by market cap, trailing Dogecoin by around $5 billion. On March 5, SHIB surged by 300% to reach $0.00004534, with a market cap exceeding $23 billion. However, Shiba Inu has declined by 22% in the last seven days and is currently trading at $0.00002527.
Shiba Inu previously surpassed Dogecoin when it reached its all-time high price of $0.00008845 in 2021. However, Dogecoin quickly reclaimed its position and remained in the top ten list for most of the years. Shiba Inu struggled to maintain its position and fell outside the top ten. But with recent developments like Shibarium, the Shiba Army is optimistic about its chances of success.
Analysts, including crypto investor JAKE Gagain, believe that Shiba Inu has the potential to dominate its category and become the first meme coin to reach a market cap of $100 billion. The Shiba Army also believes that Shiba Inu has reached a point where it could have an exchange-traded fund (ETF). They have petitioned Grayscale Investments to launch an ETF for Shiba Inu.
However, Elon Musk’s involvement with Dogecoin could pose a challenge for Shiba Inu. Musk recently announced that Tesla may accept Dogecoin as payment for its vehicles. He also shared a story about why he became a fan of Dogecoin, citing the support he received from people working at Tesla and SpaceX.
In conclusion, Shiba Inu is determined to overtake Dogecoin and become the top meme coin. With its secret weapons and recent developments, Shiba Inu believes it has what it takes to claim the throne. However, the involvement of Elon Musk with Dogecoin could complicate matters for Shiba Inu.