The Rise of SHIB: A Shift from DOGE to the New Cryptocurrency

DOGE’s Lackluster Growth: Is the Original Memecoin Losing Its Luster?

The once beloved and iconic Dogecoin has seen a turbulent year in terms of growth. Despite being the highest-ranking memecoin in terms of market capitalization, Dogecoin’s performance in 2023 was underwhelming to say the least. According to CoinMarketCap, the original “dog coin” only registered gains of 1.06% in the past year. In comparison, its spinoff, the Shiba Inu token (SHIB), saw slightly better gains of 3.62%. This raises the question of whether DOGE is losing its shine in the memecoin space.