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Here Is When SHIB Will Flip DOGE in Market Cap Top

Thu, 09/08/2022 - 10:23
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Gamza Khanzadaev
Whether gap is $1.3 billion or $900 million, it is falling between Shiba Inu and Dogecoin
Here Is When SHIB Will Flip DOGE in Market Cap Top
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According to crypto data vendors, the gap between Shiba Inu and Dogecoin in market capitalization is gradually decreasing.

Based on CoinMarketCap data, the current market capitalization of Dogecoin is $8.03 billion, and that of Shiba Inu is $6.7 billion. Thus, the current gap in the capitalization of the two projects is about $1.33 billion. At the same time, over the last three months of the crypto market armageddon, DOGE lost 21.6% in valuation, while SHIB, on the contrary, added almost 20%.

If you refer to the data from CoinGecko, it turns out that the gap is even smaller and equals $850 million. The point is the difference in approaches to estimating the capitalization of Shiba Inu. What CMC considers as a fully diluted market cap is CoinGecko's estimate of regular market cap and amounts to $7.2 billion. Nevertheless, the upward trend of Shiba Inu and the Dogecoin flip is confirmed by this information as well.

Of interest, according to CoinGecko, is that the SHIB price experienced a less painful fall than DOGE on different timeframes. From a year-to-year perspective, Shiba Inu showed 101.7% growth, while Dogecoin declined by 76.2%. However, this can be explained by the difference in the age of both projects.

When will "dog" flippening occur?

Comparing the capitalizations of SHIB and DOGE on the basis of information from these two sources, it can be concluded that the redistribution of places between projects will occur when the price of Shiba Inu can cumulatively grow by 12%-20% above the price of Dogecoin.

However, given conditions on the crypto market, we should instead talk about who will suffer the least significant fall.

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About the author

Financial analyst, trader and crypto enthusiast.

Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management.

He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.