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Source: Coingecko<\/p>\n
However, despite its impressive performance, SHIB’s gains fall short compared to its meme competitors. Dogecoin, for instance, made leaps and bounds, skyrocketing over 30% during the same period.<\/span><\/p>\n The question on everyone’s minds now is, will SHIB continue its relentless climb, keeping pace with the mighty DOGE?<\/span><\/p>\n Source: Coingecko<\/p>\n The catalyst for SHIB\u2019s incredible surge came when Elon Musk, the self-proclaimed “Dogefather”, wielded his Twitter influence and replaced the social media platform’s iconic blue bird logo with SHIB’s legendary Shiba Inu symbol. From that moment on, SHIB’s price saw a steady climb.\u00a0<\/span><\/p>\n Despite not holding any SHIB himself, <\/span>Musk’s influence<\/span> has been known to affect the price of both DOGE and SHIB.\u00a0<\/span><\/p>\n Over the years, these two meme cryptocurrencies have exhibited a history of responding to each other’s movements, with one coin’s price increase often leading to a surge in the other’s value. As such, any action taken by Musk in relation to DOGE has the potential to indirectly affect SHIB’s performance, and vice versa.<\/span><\/p>\n Based on <\/span>data from TradingView<\/span>, SHIB has shown positive price movement in the short term, with a gain of 1.60% in just one day and a strong upward trend of 9.09% in the past week. However, in the medium-term perspective, SHIB’s growth has been more modest, with a gain of 2.70% over the last month and 1.97% over the past six months.<\/span><\/p>\n On the bright side, the year-to-date performance of SHIB has been impressive, with a gain of 41.44%, indicating that the overall trend for SHIB is upward. However, it is important to note that SHIB has experienced significant volatility, as seen in its drastic one-year loss of 56.90%.<\/span><\/p>\n SHIB total market cap currently at $6.5 billion on the daily chart at TradingView.com<\/p>\n Related Reading: Chiliz Heats Up With 10% Rally \u2013 Will CHZ Push Higher This Week?<\/p>\n![](\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/04\/a-12.png\")
<\/p>\nShiba Inu Price Pulled Up As Dogecoin Rallies<\/strong><\/h2>\n
Where Will Shiba Inu Go From Here?<\/strong><\/h2>\n
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