Crypto news: Dogecoin hits highest price in two months while Shiba Inu Coin loses a bit of steam

In the exciting competition of the two closely related cryptocurrencies Dogecoin and Shiba Inu Coin, the momentum appears to have changed a bit today. After the Shiba Inu Coin made up a lot of ground with its impressive rally over the last couple of weeks, the Dogecoin has now taken the driver's seat and put up quite significant gains itself. After its price climbed by almost 26% over the last 24 hours, one dogecoin (DOGE) is currently worth around US$0.30. This should also please Elon Musk, who recently made news headlines by confirming that his crypto portfolio in fact contains Dogecoin.

The Shiba Inu Coin (SHIB) on the other hand had to cut some losses and dropped by approximately 23% in the past 24 hours after reaching a fresh all-time high earlier this week. One Shiba Inu coin is currently worth around US$.000061. But in comparison to the Dogecoin, which is still a whopping 60 percent below its all-time high reached in May 2021, the Shiba Inu Coin's pursuit of its rival seems to be far from over.

In the ranking of the most valuable cryptocurrencies in the world, both Dog-based meme coins are still neck and neck. With a market cap of US$39.84 billion, the Dogecoin still ranks in 9th position on this list. Meanwhile the Shiba Inu Coin occupies 10th place with a slightly lower market cap of roughly US$36.21 billion. It remains to be seen whether this competitive pair of cryptocurrencies will continue its close race in the coming weeks.

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Disclaimer: This article is for informational purposes only and does not include any kind of investment advice.