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The Shiba Inu (SHIB) team recently hinted at undisclosed strategies to propel SHIB beyond Dogecoin (DOGE) market capitalization, stirring speculation within the cryptocurrency community.
Shiba Inu Sets Sights on Surpassing Dogecoin with Secret Strategies and Strong Community Support
In the recent report by CoinGape, the Shiba Inu (SHIB) team reaffirmed its commitment to surpassing Dogecoin (DOGE). The SHIB network also hinted at "secret" initiatives that could speed up its rally to overtake DOGE regarding market capitalization.
The statement above comes from the trading platform Crypto.com, which highlighted SHIB as the second most valuable meme-inspired project. In response to Crypto.com's recognition, the Shiba Inu team took to X and stated that while SHIB is currently ranked second, its goal is to take the top spot.
They wrote, "#2 today, but the Doge days are numbered." This emphasized their determination to dethrone Dogecoin and emerge as the leading meme-inspired cryptocurrency project. The Shiba Inu Army has been actively assisting SHIB in surpassing DOGE since earlier this month, when SHIB entered the top ten rankings, trailing Dogecoin by about $4 billion.
Despite their efforts, they have yet to reach their goal, but their determination is unwavering. Furthermore, the team emphasized the strong community support Shiba Inu has received over the years. In addition, the team praised their blockchain ecosystem, Shibarium, which offers various services to the crypto development community.
Furthermore, they hinted at "secret wags," implying that strategies would be used to eclipse the DOGE market cap. As a result, the team encouraged the community to anticipate future exciting developments. However, the team is not yet ready to reveal details about these "secret wags."
The SHIB team commented, "Get ready for a new top doggo. Much wows incoming." The crypto community also believes that Shiba Inu will eventually outperform Dogecoin. Furthermore, the SHIBArmy predicted that SHIB would be the first meme coin to reach a $100 billion market capitalization.
Dogecoin and Shiba Inu Navigate Market Volatility, Eyeing Recovery and Growth
Shiba Inu and Dogecoin have both fallen in popularity. While DOGE remained in the top ten, SHIB rose to eleventh. The drop in rankings can be attributed to the recent crypto market crash, which impacted Dogecoin and Shiba Inu.
DOGE and SHIB, on the other hand, recovered from their losses but could not regain their positions, as Avalanche (AVAX) held firm despite a drop. At press time, the SHIB price was up 3.63% to $0.0000259, with a market capitalization of $15.26 billion.
Meanwhile, the Dogecoin price increased by 5.99% to $0.1355, with a market capitalization of $19.44 billion. Furthermore, DOGE open interest increased 5.56% to $973.71 million, according to Coinglass. Meanwhile, SHIB's open interest fell by 2.18% to $81.80 million.
Previously, in late October 2021, Shiba Inu briefly surpassed the Dogecoin market cap when SHIB reached an all-time high. However, Dogecoin has reclaimed its position and consistently remained in the top ten, while SHIB has slipped the rankings.
Photo: Ferhat Deniz Fors/Unsplash
