Shiba Inu has seen growth over the past week as memcoin returns 48%, while rival Dogecoin sees only about 26% growth.
Shiba Inu doubles Dogecoin’s weekly yield
After the cryptocurrency collapse earlier this month, both DOGE and SHIB tried to recover their positions. However, the latter has been able to see more recovery so far.
The price of the siba-inu is currently trading around $0.00001187, up 48% from last week. The chart below shows how the price of memcoin has evolved over the past five days.
As you can see in the chart above, DOGE’s cousin has already recovered from the crash and is up about 1.5% in the last month.
Now, as for Dogecoin, the price of the OG memcoin is hovering around $0.0732 at the time of writing, up 26% over the past week.
Dogecoin still hasn’t fully recovered from the market crash earlier this month.
Unlike SHIB, which managed to achieve positive growth over the last month, DOGE is still in the red with a monthly return of about -7%.
Thus, it looks like Shiba Inu had the original memcoin in this period. But how do the coins compare over longer periods of time, such as the last three months?
Over that period, it looks like both cryptocurrencies have had roughly the same returns, and investors in both cryptocurrencies are underwater by about 50%.
Looking at an even broader timeline of the last six months, memcoin again has roughly the same return of about minus 49%.
SHIB vs. DOGE in terms of market capitalization
“Market capitalization” of any cryptocurrency is defined as the total number of coins in circulation multiplied by the current price.
Dogecoin is currently ranked 10th on the list of top cryptocurrencies, which means that its marginal capitalization is the tenth highest of any cryptocurrency on the market right now.