Both Shiba Inu and Dogecoin have tasted equal success in terms of social media traction and large buy orders this year. Up until March 2023, SHIB seemed to be leading, and it was ahead of DOGE in three different categories. In this article, we will highlight why Shiba Inu is ahead of Dogecoin in 2023.
Also Read: Shiba Inu: How $3,000 Can Fetch You $2.5 Million if SHIB Hits $0.01
1. Shiba Inu Vs Dogecoin: The Social Traction
The latest data from LunarCrush suggests that Shiba Inu received 22.01 million social media engagements up until March 2023. SHIB took the fourth spot in social engagements and remains below Bitcoin (231.59 million), GIGA (167.96 million), and Ethereum (134.62 million).
Dogecoin on the other hand took the sixth spot with a total social engagement of 17.44 million. The meme-coin is also below Solana at 20.45 million taking fifth place.
Also Read: Shiba Inu ‘Buying Pressure’ Rises: Climbs 95% In March 2023
2. Top 5 Most Traded Assets
India’s CoinSwitch cryptocurrency exchange announced that Shiba Inu was the most traded asset on the platform last week. SHIB beat Bitcoin, Ethereum, ICP, and LRC, who came below it. DOGE remains nowhere in the picture and failed to make it into the top five most traded assets. CoinSwitch has over 19 million registered users in India, and SHIB seems to be their favorite token to accumulate.
Also, Read: How Many Zeores Did Shiba Inu Delete From March 2022 to 2023?
3. Price Movements
Shiba Inu spiked nearly 77% between January and mid-February 2023 before retracing in price. SHIB is down 3% in the last 30 days as Friday’s Silvergate-induced market crash made its price nosedive.
On the other hand, Dogecoin barely rallied in 2023 and either dipped in price or mostly remained sideways. It is down nearly 22% in the last 30 trading days.