Shiba Inu, Dogecoin lock horns in terms of social strength; Who is leading?

Sahana Kiran
Shiba Inu
Source – Unsplash

2021 will go down as the year of meme cryptocurrencies. The resurrection of Dogecoin [DOGE] and the onset of Shiba Inu [SHIB] paved the way for the entry of similar coins. Despite being started off as a mere joke, meme cryptocurrencies entail a prominent spot in the market and are the livelihood of many. Even during the bear market, the social sentiment around these assets didn’t seem to fade. SHIB continued taking over social media ahead of its counterpart DOGE.

As seen in the above tweet, the social mentions of Shiba Inu were at a high of 9.14K. However, Dogecoin was mentioned only 9.02K times. In terms of social engagement, Dogecoin took the top spot with 24.1 million. SHIB was lagging behind at 13.9 million.

Furthermore, Shiba Inu’s social dominance was at 2.12 percent. Dogecoin was at 1.82 percent.

Despite entering the market back in 2013 and emerging as one of the earliest cryptocurrencies, Dogecoin’s social strength seemed to be weaker than Shiba Inu. In addition to this, Elon Musk’s consistent endorsements have certainly given the asset momentum. But, it should be noted that both Shib and Doge have the same amount of followers on Twitter.

Shiba Inu’s adoption rate and popularity shot up in 2021. Both its community and its developers have been giving their all in terms of marketing. Therefore, the asset has managed to bag a listing in almost every popular exchange despite its novelty and dainty price.

Shiba Inu bags significant gains

The entire market turned garnered respite and was glistening in green. At press time, SHIB was trading for $0.00001199 following a 6.11 percent daily surge. While the asset is still 86 percent below its all-time high, the recent rise brought about temporary relief to the community.

Earlier today, Ethereum [ETH] whales managed to bag some SHIB before the surge. WhaleStats revealed that Shiba Inu was back among the top ten cryptocurrencies by trading volume among the 100 biggest ETH whales.