Shiba Inu vs. Dogecoin: Will SHIB Flip DOGE in the Next 7 Days?

The cryptocurrency community has been abuzz with talk about something called “flipping.” This is basically the brainchild of Shiba Inu, a cryptocurrency that could surpass Dogecoin in market value. If this happens, it will bring major changes to the cryptocurrency world. So, we want to use the latest market capitalization data to dig deeper into this idea and see if it holds up. Let’s look at this comparison in more detail. Shiba Inu vs Dogecoin.

Shiba Inu vs Dogecoin

How has SHIB price moved recently?

Currently, the price of Shiba Inu is sitting at $0.00003494, with a trading frenzy totaling $2.69 billion in the last day. This is really serious behavior! The market capitalization is cruising to $20.59 billion and the market dominance is gaining momentum at 0.79%. But it’s not all sunshine and rainbows. The price of SHIB has decreased slightly by -1.06% in the last 24 hours.

Now let’s rewind a bit. The highest Shiba Inu surge was on October 28, 2021, when it hit an all-time high of $0.00008819. Meanwhile, the lowest point fell to $0.000105637 on November 28, 2020. The lowest since the last low is $0.000055821 (yes, this is the cycle low), and the highest since the last low (the highest cycle if you’re tracking) is $0.00004501.

And you know what? People are feeling very optimistic about where Shiba Inu prices are going and there is a sense of optimism in the air. Oh, and what about the Fear & Greed Index? 84 gives off an extremely greedy vibe.

Now let’s talk about supply. Currently, approximately 589.29 trillion SHIB tokens are in circulation, out of a total supply of 589.74 trillion SHIB. And get this – the annual supply inflation rate is about 7.33%. This means that approximately 40.23 trillion SHIBs were added to the mix over the past year. Are you crazy?

How has DOGE price moved recently?

Now, let’s analyze the Dogecoin situation. Currently, Dogecoin is trading at a price of $0.180490. There was tremendous trading activity in the past day alone, with trading volume reaching $5.85 billion. Talk about serious action. Yes? The market capitalization is hovering at $25.88 billion and maintaining a market dominance of 1.00%. Moreover, in the last 24 hours, the price of DOGE has surged by a whopping 8.00%.

Now let’s talk about peaks and valleys. Dogecoin soared to a high of $0.738595 on May 8, 2021. On the other hand, the lowest low was recorded on May 7, 2015, when it dropped to an all-time low of $0.00008547.

The lowest since the last low was $0.049701 (yes, the cycle low) and the highest since the last low (the cycle high if you’re tracking) was $0.203320. And guess what? The sentiment around Dogecoin’s price prediction is very bullish and people are optimistic about where it is headed. Oh, and speaking of mood, the Fear and Greed Index is skyrocketing to 84, indicating some serious extreme greed.

Now let’s talk about supply. There are currently approximately 143.4 billion DOGE tokens in circulation. And get this – the annual supply inflation rate is approximately 8.08%. This means that approximately 10.73 billion DOGEs were added to the mix over the past year. Are you crazy?

Shiba Inu Vs Dogecoin: Understanding Market Capitalization and ‘Flipping’

great. Let’s simplify this market capitalization concept through a relevant analogy. Think of it like this: Imagine you have a box full of apples and each apple costs $2.

Now, if there are a total of 100 apples in that box, calculate the total value of all the apples by multiplying the price per apple ($2) by the number of apples (100). $200.

Now let’s apply this to the world of cryptocurrency, specifically the Shiba Inu (SHIB) coin. If each SHIB coin is worth $0.00003531 and there are approximately 589.29 trillion SHIB coins in circulation, then the price per coin ($0.00003531) is multiplied by the number of coins (589.29 trillion) to determine the total value of all SHIB coins.

This calculation gives it a current market capitalization of $20.81 billion. So, like an apple, market capitalization represents the total value of all cryptocurrency units in circulation.

great. Let’s switch to another scenario. Now imagine you have a box of oranges and the total value of those oranges is $300. Now, compared to the previous box of apples worth $200, this box of oranges has a higher market capitalization.

Now here comes the interesting part of the cryptocurrency world. When the market capitalization of one cryptocurrency exceeds the market capitalization of another cryptocurrency, it is like a box of oranges overpowering a box of apples. This phenomenon is colloquially called ‘flipping’.

Specifically, in the cryptocurrency world, the term “flipping” is used to describe the moment when the market capitalization of Shiba Inu (SHIB) exceeds that of Dogecoin (DOGE). Therefore, if the total value of all SHIB coins in circulation exceeds the total value of all DOGE coins in circulation, SHIB has successfully “flipped” DOGE in terms of market capitalization. In our analogy, this is like oranges winning a market capitalization race against apples.

Is Shiba Inu going to flip Dogecoin in the next 7 days?

Based on the information we currently have, it seems a bit of a stretch for Shiba Inu (SHIB) to upset the market cap of Dogecoin (DOGE) over the next 7 days. SHIB’s market capitalization is approximately $21.01 billion, while DOGE is cruising at $26.2 billion.

There is a pretty noticeable gap between the two. Moreover, DOGE has been on a bit of a positive trend lately and has shown good growth in the past days.

So while SHIB is receiving a lot of attention, DOGE has the upper hand with its established presence and larger market capitalization.

Dogecoin (DOGE) also has an edge over SHIB because it is the first to join the cryptocurrency industry. DOGE took its first steps 10 years ago, in December 2013. SHIB, meanwhile, got into the game much later, launching about three years ago in August 2020. However, SHIB has made impressive strides despite his short time in the ring.

Adding to its arsenal, SHIB recently launched its layer 2 network, Shibarium, in early 2023. This move could be game-changing in increasing SHIB adoption following the halving. Additionally, the SHIB team is preparing a new burn mechanism that will allow trillions of tokens to be burned each year, further driving the asset price higher. This development could potentially shake up SHIB’s situation in the cryptocurrency world.

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