According to data provided by Bybt analytics service, 22.4 million and 8 million positions in Shiba Inu (SHIB) and Dogecoin (DOGE) were liquidated in the past hours.
Big purges are happening at SHIB and DOGE!
Traders’ positions in SHIB (22.47 million tokens) worth around $1.46 million were liquidated after SHIB slumped by almost 50% after ATH hit $0.000008616 and fell to $0.00005731 earlier today. The same has happened to its biggest competitor, Dogecoin. DOGE liquidations totaled $2.41 million (7.99 million DOGE).
DOGE recovers, surpasses Shiba Inu
First, SHIB managed to surpass Dogecoin with its position in the top 10 crypto lists and market cap assessment. SHIB has a market cap of over $38 billion on CoinGecko, and the same rates were later observed on CoinMarketCap. Dogecoin briefly recovered, reaching $0.3054, but SHIB again outpaced DOGE with a market cap of $40,616,946,419.
To recall, Coinbase, the largest US-based crypto exchange that listed SHIB earlier this year, is on the verge of collapse due to the immense traffic caused by Shiba Inu and its investors. During this period, SHIB trading volume also surpassed that of Ethereum by an incredible $5 billion on Coinbase.
DOGE is a “boomer meme coin”
cryptocoin.com Joe Weisenthal, whom we quote as, tweeted that Dogecoin is a “boomer meme coin”. According to Weisenthal, SHIB is better than Dogecoin because it has a fast-paced roadmap. Also, SHIB has a DEX platform, which provides capabilities for NFTs and smart contracts. Weisenthal emphasizes that none of this is in DOGE.
Arcane Assets CIO Eric Wall tweeted a similar view on Shiba and Dogecoin, stating that Shiba Inu is not affiliated with Litecoin in mining and therefore does not have potential problems that Dogecoin may one day face. On Wednesday, October 28, the Shiba Inu reached ATH three times in a row. Also, the petition filed by Change.org, which requested that SHIB be listed by Robinhood, garnered over 326,000 signatures.
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