Dogecoin (DOGE) has gained significant momentum, increasing by 27% and reaching a price of $0.143. This surge in price is the highest it has been since June 10, marking a positive turn for the meme cryptocurrency. Speculation is already circulating in the crypto community about the possibility of DOGE hitting an all-time high and potentially reaching $1 per DOGE.
While the future of Dogecoin is captivating, the focus shifts to which cryptocurrency could emulate its success. Undoubtedly, the top contender in this regard is Shiba Inu (SHIB). SHIB is often considered a beta game for DOGE, with both meme tokens showing a correlation in their price movements.
Despite this connection, the recent weeks have seen SHIB achieve a 7.11% increase in price, following a pattern similar to DOGE but with less impressive results. It is important to note that DOGE has had external catalysts such as the U.S. election influencing its price, while SHIB lacks such triggers. However, in the crypto market, charts often dictate the overall trend, and based on this, it is highly likely that the Shiba Inu token will continue to follow the upward trajectory set by its “elder” counterpart.