• DOGE had 42% of its holders in profit, while SHIB had 11%.
• SHIB had a lower social dominance but better whale concentration.

Dogecoin [DOGE] and Shiba Inu [SHIB] have held their ground as the top two meme coins in terms of market capitalization. However, since the last bull market, there has been some sort of disparity between the two. For Shiba Inu, it no longer wants to be identified as a meme alone. Hence, it built an entire ecosystem backed by the Ethereum [ETH] blockchain.

Realistic or not, here’s SHIB’s market cap in DOGE’s terms

Yet Dogecoin has not shied away from wearing its gown of pride. Till now, DOGE publicly claims to be a project without a budding ecosystem for any specific utility, with the likes of X (formerly Twitter) CEO Elon Musk showing unwavering support for the project.

More calm in the DOGE camp

But in the crypto market, it’s not uncommon for a thriving ecosystem to have a struggling token. This was a scenario shown by IntoTheBlock as regards the condition of SHIB and DOGE.

According to an infographic put out on 8 September, 42% of DOGE holders were in profit. On the other hand, SHIB could only boast of 11%.

Go to Source to See Full Article
Author: Victor Olanrewaju

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