A dog fight has broken out in the crypto top 10 in the past 24 hours as memecoin Dogecoin and its pup Shiba Inu token battle it out for the position of top dog.
Fast facts
- The price of the once-derided Shiba Inu coin has been on a tear this past week, gaining over 200% to reach a new all-time high of US$0.00008845 yesterday — leaping over Dogecoin to seventh position on the leader board by market cap, according to data from CoinMarketCap. The new high was short-lived, however, as the token quickly began losing ground, and was trading at US$0.00006164 at press time.
- As Shiba Inu recedes, Dogecoin responded by jumping 44% in the past 24 hours to a two-month high of US$0.3388 this morning, regaining a place in the top 10 in ninth place and pushing SHIB to the bottom of that list. Its price has fallen again since that point, however, and while still leading SHIB, DOGE was only trading at US$0.2969 at press time, according to data from CoinMarketCap.
- All the excitement over these two tokens has trickled down to some of the litter of DOGE and SHIB imitators as well. The price of Floki Inu — a coin named after Tesla CEO Elon Musk’s own Shiba Inu — gained over 250% in 24 hours to reach a new all-time high of US$0.0002209 yesterday. Floki Inu prices are flattening out today however, and was trading at US$0.0001997, according to data from CoinMarketCap.