In 2023, SHIB Outperforms DOGE in 3 Distinct Categories
Shiba Inu and Dogecoin have both gained significant social media traction and large buy orders in 2023, however, up until March, SHIB seemed to be leading in terms of social engagements, trading volume, and price movements. According to LunarCrush data, SHIB received 22.01 million social media engagements, taking fourth place behind Bitcoin, GIGA, and Ethereum, whereas Dogecoin took sixth place with 17.44 million engagements. Additionally, Shiba Inu beat Bitcoin, Ethereum, ICP, and LRC to become the most traded asset on India’s CoinSwitch cryptocurrency exchange, with over 19 million registered users in India, indicating its popularity in the country.
In terms of price movements, Shiba Inu spiked nearly 77% between January and mid-February 2023 before retracting in price, and is down 3% in the last 30 days due to Friday’s Silvergate-induced market crash. On the other hand, Dogecoin barely rallied in 2023 and has been mostly flat, and is down nearly 22% in the last 30 trading days.
Overall, while both Shiba Inu and Dogecoin have had their own moments of success and popularity, it seems that Shiba Inu is currently ahead in terms of social media traction, trading volume, and price movements.