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

In contrast to the weaker Shiba Inu Coin, the Dogecoin may have started a new rally on the crypto market (Image: Executium)
In contrast to the weaker Shiba Inu Coin, the Dogecoin may have started a new rally on the crypto market (Image: Executium)
The two competing cryptocurrencies are currently moving in opposite directions as the price of the Dogecoin slowly recovers, while the Shiba Inu Coin has to take a much deserved break after its recent surge.

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.

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Enrico Frahn
Editor of the original article: Enrico Frahn - Tech Writer - 932 articles published on Notebookcheck since 2021
My fascination for technology goes back a long way to the Pentium II era. Modding, overclocking and treasuring computer hardware has since become an integral part of my life. As a student, I further developed a keen interest in mobile technologies that can make the stressful college life so much easier. After I fell in love with the creation of digital content while working in a marketing position, I now scour the web to bring you the most exciting topics in the world of tech. Outside the office, I’m particularly passionate about motorsports and mountain biking.
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> Notebook / Laptop Reviews and News > News > News Archive > Newsarchive 2021 10 > Crypto news: Dogecoin hits highest price in two months while Shiba Inu Coin loses a bit of steam
Enrico Frahn, 2021-10-28 (Update: 2021-10-28)