Dogecoin and Shiba Inu are Competing towards a “Long Term Outbreak”

Dogecoin and Shiba Inu are fighting hard as investors are looking at a "long-term outbreak

Two of the most popular meme coins with the same dog as a mascot are having a tough face-off. Every now and then you will find Dogecoin and Shiba Inu overriding each other in the top crypto chart. At the end of the latest bear season, these two cryptocurrencies have experienced a great rise of 23.41% and 27%, respectively and the investors are already envisioning a 'long term outbreak' for these two.

Regardless of the difference between the two coins, the traders are hopeful as the Bitcoin price rises to US$23,855 on July 20, as these coins are highly correlated to the condition of the World's largest cryptocurrency. The Crypto Greed and Fear Index has declared that the investor's sentiments have recently changed from 'extreme fear' to 'fear', which is definitely progress after the long-term drought that prevailed over the crypto market.

Dogecoin vs Shiba Inu: Who is Ahead in the Race Now?

Currently, at the top crypto chart, Dogecoin is residing in the 10th position while Shiba Inu is in the 15th position. The credit for such an upward surge in DOGE price goes to the upcoming release of Dogecoin Core update 1.14.6. The update hopes to include important security updates and changes to network efficiency. Dogecoin also faced buying pressure from whales, ranking among one of the top 10 purchased assets by whales in the last 24 hours, per WhaleStats data.

On the other hand, Shiba Inu's price anticipates growth in an ever-increasing community. The Shiba Inu holder count continues to grow, presently at 1,209,427, per WhaleStats data. Shiba Inu also ranks as the biggest token holding for the top 100 ETH whales, who now possess $563,163,878 worth of SHIB. The top 100 Shiba Inu whales have also grown their average SHIB balance by nearly 31%.

The present scenario is putting Dogecoin way ahead of Shiba Inu but it is clear that the competition is getting very close to a tie. The Dogecoin Foundation established a community group toward the end of last year to upgrade the outdated Dogecoin website and create a group that could work on any future Dogecoin website. Thus, 20 volunteers with a variety of abilities, including writing, translating, HTML, CSS, and graphic design were gathered. Since then, the team has developed a system for creating, updating, and maintaining web pages for the Dogecoin community, beginning with the Dogecoin Foundation website before moving on to the Dogecoin website as the next stage of deployment.