The market capitalization of Shiba Inu[1] (SHIB) surpassed that of Dogecoin recently. The Ethereum-based token, SHIB, entered the market as a “Dogecoin killer.” This race of the dogs has been a rather interesting one to watch. However, the most relevant question here is this – Will another new dog in town – Floki Inu – threaten SHIB and Dogecoin’s[2] hold?
What’s this dog race?
After a close race, SHIB increased its dominance over DOGE, hitting a market capitalization of $33.43 billion. DOGE, the so-called OG dog-coin, had to make an exit from the top ten coins’ club with a market capitalization of $31.9 billion.
Earlier today, SHIB’s price had risen by an astounding +174% in one week as “diamond-fisted” hodlers continued to be rewarded. However, the alt’s supply of coins that existed on exchanges was still moving down as traders moved their cryptos into cold wallets.
As SHIB flipped Dogecoin and briefly, took over Polkadot by market cap, the larger community still seemed distraught about a meme-coin doing the aforementioned. However, Shiba’s time as a true DOGE-killer was comparatively short-lived.
At the time of writing, it was back to the tenth spot while Dogecoin took the eighth and DOT was ninth by market cap.
Nonetheless, with Shiba falling by almost 30% in just five hours, at the time of writing, it seemed like many had yet again missed the explosive dog-token rally.
Amid this FOMO, Floki Inu seemed to be barking loudest, claiming to be the next Dogecoin and Shiba-killer.
The next Dogecoin and Shiba-killer?
Interestingly, in May 2021, when Dogecoin picked up the pace, Shiba gained traction as a DOGE-killer. Even though the claims seemed hilarious at the time, five months down the lane, SHIB, in
