Can Shiba Inu (SHIB) Outperform Dogecoin (DOGE) In 2023?

If you don’t live under a rock, then you must have heard about the Shiba Inu. It is the second most popular meme coin built on the Ethereum blockchain. From nothing in 2020 to outpacing Dogecoin in 2021, SHIB made headlines when it became the top meme coin by market capitalization.

Shiba Inu – Challenging The Big Doge

Since the beginning of 2023, SHIB has gained a lot of momentum. With its ongoing projects, massive upgrades, and new partnerships, the coin has become extremely viral on social media and got much-needed attention from new and pro investors.

Here are the Reasons why Shiba Inu might leave Dogecoin Behind:

• Shibarium got the Atomic Support

Shibarium is a layer-2 blockchain that would operate on top of the Ethereum mainnet. It aims to provide a platform that would empower the users to develop the project. Shibarium recently got support from Atomic Wallet, a cryptocurrency wallet service provider.

We’re going to support @ShibariumNet in Atomic! The Layer2 Network will be running by @Shibtoken for #ShibArmy

– Atomic Wallet @AtomicWallet

Read More: 5 Reasons Why Shiba Inu Will Rule The Crypto Market In 2023

• SHIB Burn

Recently, Shytoshi Kusama, Shiba Inu’s lead developer stated that one of the goals of Shibarium is to burn trillions of tokens. This statement created a buzz among the SHIB community because cryptocurrency token burning drives up their value and scarcity.

Shiba Inu Price Surge

A meme coin has seen big gains in the past month, with its price surging 150.5% over the past 30 days, according to CoinMarketCap data. The 15th-ranked crypto asset by market cap is currently trading at $0.0000119 (up by 2.4%) with a 24-hour trading volume of $315,060,230.

One of the reasons behind Shiba Inu’s recent price surge is that the meme coin recently got listed on South Korea’s top crypto exchange by trading volume.

In conclusion, SHIB is far away from its all-time high of around $0.000086, which it hit in October 2021. The cryptocurrency still has the potential to lead the pack of meme coins.

Also Read: SHIB-Themed Burger- Shiba Inu’s First Step Into IRL Projects

Note: Opinions expressed at Coingape are not investment advice. Investors should do their due diligence before making any high-risk investments in any cryptocurrency.