{"id":607932,"date":"2024-05-14T20:00:27","date_gmt":"2024-05-14T20:00:27","guid":{"rendered":"https:\/\/wncen.com\/?p=607932"},"modified":"2024-06-11T07:00:02","modified_gmt":"2024-06-11T07:00:02","slug":"shiba-inu-volume-flips-dogecoin","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/shiba-inu-coin\/shiba-inu-volume-flips-dogecoin\/","title":{"rendered":"Shiba Inu Volume Flips Dogecoin, Will SHIB Price Flip DOGE If This Analyst\u2019s Prediction Comes True?"},"content":{"rendered":"
Shiba Inu is up by 7% in the past 24 hours amidst an uptick in the meme coin market, coming ahead of Dogecoin at this time. The meme coin niche has witnessed a strong resurgence in the past day, with the entire niche up by 7.82%. Shiba Inu has particularly done well and witnessed a strong volume of interest amidst this uptick. Interestingly, this uptick in volume for SHIB has surpassed DOGE, with on-chain data <\/span>suggesting SHIB could do better<\/span><\/a> in the short term. At the same time, crypto analyst Ali Martinez has revealed a phenomenon that could lead to a 20% upswing for SHIB.<\/span><\/p>\n Data from Coinmarketcap<\/span><\/a> shows that Shiba Inu has witnessed a trading volume increase of 320% in the past 24 hours. The metric, on Dogecoin’s side, was an increase of 160%. The crypto, which has been trading inside a descending channel for a while, is now appearing to make a push above.\u00a0<\/span><\/p>\n Related Reading: Analyst Who Predicted Solana\u2019s 1,100% Move Reveals Where The Altcoin Is Headed Next<\/a><\/p>\n Although current data from analytics platform IntoTheBlock (ITB) suggests <\/span>DOGE <\/span><\/a>is still holding on for a longer-term overperformance over <\/span>SHIB<\/span><\/a>, SHIB is starting to position itself to outperform DOGE in the short term on a cost basis. According to ITB’s holding by time metric, DOGE has seen a 1.86% increase in the number of holders in the past 30 days, compared to a 0.43% increase for SHIB. ITB terms holders as passive investors that have held the asset for more than one year.\u00a0<\/span><\/p>\n However, the number of cruisers (investors holding between 1 to 12 months) flips the short-term interest in the favor of SHIB. As of this writing, SHIB\u2019s cruisers have increased by +5.69% in a 30-day timeframe. The metric, on DOGE\u2019s side, shows a 2.44% decrease.<\/span><\/p>\nShiba Inu Volume Flips Dogecoin<\/h2>\n