Shiba

Dogecoin

when

Shiba Inu

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<p dir="ltr">As the meme coin competition grows, Shiba Inu has extended its subtle lead over its core rivals Dogecoin (DOGE) and PEPE.&nbsp;</p>
<h2 id="shiba-inu-whales-unleashed">Shiba Inu whales unleashed</h2>
<p dir="ltr">Besides the general slip-off in the price of the three meme coins, other performance metrics are beginning to see a revival.&nbsp;<a href="https://app.intotheblock.com/coin/SHIB/deep-dive?group=financials&amp;chart=largeTransactions" rel="noopener noreferrer nofollow">Per</a> data from crypto analytics platform IntoTheBlock (ITB), the whale transaction volume of Shiba Inu has soared by a massive 268.26%.&nbsp;</p>
<p dir="ltr">Per the data, these large transactions imply the valuation of trades or transfers worth more than $100,000, topping $98.12 million in 24 hours. By comparison, Dogecoin has seen its whale transactions jump by only 13.29% overnight to $966.35 million.</p>
<p dir="ltr">Tagging along with the large transaction, frog-themed meme coin PEPE recorded an 11.16% shift in 24 hours. With its wide embrace by market whales, about $11.12 million worth was traded.</p>
<p dir="ltr">The race for dominance is determined by more factors than whale count. The Shiba Inu ecosystem has a relatively fairer slump in terms of its daily active wallets when compared to either Dogecoin or PEPE. At the moment, DOGE remains the most capitalized of the trio; however, Shiba Inu is visibly closing in.</p>
<h2 id="beyond-meme-coin-hype">Beyond meme coin hype</h2>
<p dir="ltr">Shiba Inu is thriving beyond its meme coin status as it recently unveiled plans to expand its network reach with a&nbsp;<a href="https://u.today/shiba-inu-bags-12-million-from-investors-to-develop-shibarium-successor" rel="noopener noreferrer nofollow">layer-3 scaling solution</a>. This new layer-3 chain will be built on Shibarium through a major hard fork upgrade in the coming month.&nbsp;</p>
<p dir="ltr">Shiba Inu has been expanding at a fast speed as it looks to return more value to its community. Notably, the core developers behind the meme coin project have even entered&nbsp;<a href="https://u.today/shiba-inu-shib-launches-domain-name-system-with-d3-viction-follows" rel="noopener noreferrer nofollow">significant partnerships</a> with market outfits like D3 to introduce products that can help drive demand for SHIB and its underlying utility.</p>
<p>Overall, the short-term goal is to drive&nbsp;<a href="https://u.today/shiba-inu-on-verge-of-regaining-top-10-after-25-weekly-rise" rel="noopener noreferrer nofollow">Shiba Inu into the top 10</a> by reviving its price from its current level of $0.00002208.</p>

Shiba Inu (SHIB) Outshines DOGE and PEPE in This Key Metric

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