Cryptocurrency token Shiba Inu has overtaken Dogecoin since the beginning of the year

Shiba Inu wins the meme token race in 2023 with an increase of over 23%. The debate in the crypto industry about which meme coin is better — Shiba Inu or Dodgecoin — continues unabated. However, judging by the market performance of the tokens this year, Shiba Inu stands out from its competitor.

According to CoinMarketCap, the price of SHIB has increased by 23% this year, while the price of DOGE has decreased by 4%. This analysis was compiled from January 1 to the time of this writing, March 11, 2023. During this period, the price of shiba-in increased from $ 0.81 to $ 0.1 per unit, and the price of Dogecoin fell from $ 0.7 024 to the current price of $ 0.066. Both cryptocurrencies had similar trends in January: SHIB outperformed DOGE’s growth during this period by a margin of 45% versus 33%.

However, in February, the race was won by shiba-inu: the token rose to a yearly high of $ 0.14 and then fell slightly. Dogecoin also followed suit, but suffered a sharp drop on February 13. Since then, the leading meme coin has been struggling to capture its former heights, and the latest crypto market crash, associated with the closure of Silvergate and SVB, has led to a negative balance for the year.

Shiba Inu also experienced negative movement in March, but the price drop did not affect its overall profit: wallet holders received a 23% profit for the year.

Coincidence or not, the trading volumes of both cryptocurrencies have been the same over the past 30 days. According to CoinMarketCap, in both cases, traders transferred about $ 28 billion in each token to the exchanges.