Shiba Inu Adoption Skyrockets: Can It Overtake Dogecoin?

Surge in New Users

Shiba Inu has seen a massive increase in new users this month. According to IntoTheBlock, the number of daily new addresses has hit levels nearly 20 times higher than the average for February. This influx of new users suggests a significant surge in adoption.

Price Rally Fuels Adoption

The sharp increase in adoption coincides with a rapid growth in Shiba Inu’s price. Investors are drawn to rallies like these, leading to a surge in users joining the network.

Outperforming Dogecoin

Shiba Inu has recently outperformed its rival, Dogecoin, with a remarkable 264% surge in the past month. While Dogecoin has also seen a rise, it has not kept pace with Shiba Inu.

Potential to Overtake Dogecoin

If Shiba Inu continues to outperform Dogecoin, there is a possibility that it could eventually flip DOGE in market capitalization. This would be a significant milestone for the memecoin.