Memecoin Battle: Shiba Inu’s Monthly Earnings Rise to 18% While Dogecoin Earns Only 2% Profits

Memecoins Shiba Inu and Dogecoin are both looking to end the month green, but SHIB’s gains have been significantly higher than DOGE’s so far.

Shiba Inu looks to end July with 18% profit while Dogecoin sees 2% increase

After going through months of a bearish trend, holders of the two largest memecoins in the market may finally find relief as the cryptos are poised to register gains for the month.

Let’s look at DOGE’s data first. Currently, the price of the original memecoin is floating around $0.0704, up 4% in the past seven days. The chart below shows the trend in the value of the crypto over the past month.

Looks like the price of the coin hasn't changed much during this period | Source: DOGEUSD on TradingView

As you can see from the chart, although Dogecoin saw significant volatility during the month of July, it still ends the month just 2% above the initial price.

On a larger scale check, such as over the past three months, the cryptocurrency is nearly 50% in the red.

As for the Shiba Inu, its price is around $0.00001208 at the time of writing. Weekly earnings for the DOGE-cousin memecoin currently stand at 3%.

Now, here is a chart that shows the trend of SHIB’s value over the past month:

The value of the crypto seems to have enjoyed some growth in July | Source: SHIBUSD on TradingView

Unlike Dogecoin, Shiba Inu has made a significant rally over the past month, with the coin racking up 18% gains over the period.

But looking at the larger period of the last three months, SHIB is also in a loss as its value is now over 45% lower.

SHIB Vs DOGE by Market Cap

When it comes to the market caps of the two cryptos, Dogecoin still has its cousin easily beaten in this department, as the memecoin currently ranks 10th on the entire list of crypto caps.

Below is a chart that shows how Shiba Inu compares to the original memecoin in terms of market capitalization.

DOGE currently has a market cap of over $9 billion | Source: CoinMarketCap

It appears that SHIB’s market capitalization is currently the 16th largest in the overall crypto market, six places behind that of DOGE.

In October of last year, Shiba Inu witnessed an unprecedented rally where the coin rose 1000% over a 30-day period at one point. Then, memecoin also found its place in the top ten list and constantly battled with Dogecoin for the 9th position.

However, since dropping out of the top ten spots soon after, the crypto has yet to compete for a spot there. Another big rally will probably have to be seen before SHIB can challenge DOGE again.

Featured image from Quantitatives on Unsplash.com, charts from TradingView.com