Shiba Inu ecosystem leader Shytoshi Kusama released a cryptic tweet declaring SHIB a Dogecoin killer amid Shiba Inu’s move to eliminate DOGE.
Data from CoinMarketCap shows that Shiba Inu is now the tenth largest cryptocurrency, having achieved a valuation of around $23 billion. This valuation places Shiba Inu right behind its biggest rival in the meme token landscape, Dogecoin.
DOGE holds a market capitalization of $26 billion. Essentially, there is only about $3 billion between Shiba Inu and Dogecoin.
This narrow margin has raised significant hopes among the SHIB military that Shiba Inu will soon knock DOGE out of action. The basis for this optimism comes from the fact that just nine days ago Shiba Inu ranked 18th with a valuation of $5.69 billion.
Meanwhile, DOGE was at position nine with a market capitalization of $12.33 billion. Over the past ten days, SHIB has defeated eight major rivals to secure an additional $17 billion in market share.
Shiba Inu will be the Dogecoin killer
With a gap of just $3 billion ahead of SHIB to overtake DOGE, Shiba Inu ecosystem leader Shytoshi Kusama took to X to share a mysterious tweet about the development. Kusama noted:
“We approach quickly… may your arrows fly fast past the machines they have placed on the way back to their fortifications,” next to the hashtag “Dogecoinkiller”.
We are approaching fast… may your arrows fly fast past the cars they have placed on the way back to their fortifications!#SHIBARMY #DOGECOINKILLER
— Shytoshi Kusama™ (@ShytoshiKusama) March 5, 2024
He further stated that the SHIB army was marching to kill Doge, and XRP and Cardano were also on edge as the SHIB prepared to shoot them down as well.
1.5B from the front lines of the Doge, the #SHIBARMY marches forward. Ada is probably nervous too. The Xrp army is preparing for war.
We are ready. PLOT! pic.twitter.com/1J7aRX6GAe
— Shytoshi Kusama™ (@ShytoshiKusama) March 5, 2024
Reacting to Kusama’s post, SHIB members see the development as inevitable. “I believe we will rush like lightning to kill Dogecoin. Keep up the good work, SHIB Army,” he noted an X user.
Another exclaimed: “SHIB is ranked 10th in the CoinMarketCap rankings. SHIB will surpass DOGE! Quickly!”
$SHIB is ranked 10th in the Coinmarketcap ranking! $SHIB will overtake $DOGE! Quickly! https://t.co/llRFwSz7fg
– Mr. SHIB (@Trng28876606) March 5, 2024
SHIB vs. DOGE
Notably, Shiba Inu’s current position has been based on its astonishing performance over the past few days which dwarfed Dogecoin’s trajectory.
For example, in the last 24 hours, SHIB recorded a gain of 44%, with its price at $0.000038. DOGE only posted an 8% gain over the same period.
Likewise, while Shiba Inu’s seven-day cumulative performance is strong with gains of 268%, DOGE is about three times lower with 93% growth.
Additionally, SHIB recorded a 24-hour trading volume of more than $13 billion, with Dogecoin’s volume being around $8 billion. Now, it remains to be seen how quickly SHIB will overtake its biggest rival in the rankings.
