- SHIB/DOGE pair was 100% up from the lower point three months ago.
- News of the Shibarium launch and crypto payments on Twitter fueled the rally.
In November 2022, SHIB was trading at the lowest price compared to its arch-rival DOGE but the tables have turned in the last three months. Shiba Inu is trying hard to dethrone Dogecoin from its top position as the memecoin darling.
February 4, 2023, saw the SHIB/DOGE pair reaching 0.00001638 DOGE, which is nearly 100% up from the point three months before, where it went down to 0.0000000993 DOGE, a record low level.
The possible reason could be the imminent launch of Shibarium, fueling the price northwards to the supply zone. Also, rumors of the layer 2 protocol launch on February 14, 2023, had caused the momentum to go up. In contrast, Musk’s decision to suspend the DOGE tipping bot in violation of Twitter’s rule could have slowed down its pace. Both the dog-themed meme coins have a great start in 2023, with SHIB/USD gaining 85% and DOGE/USD with a jump of 36%.
Source: https://www.thecoinrepublic.com/2023/02/06/shib-price-rebounds-100-against-doge-will-the-trend-continue/