Shiba Inu Flips Dogecoin, Defying Elon Musk

Shiba Inu Flips Dogecoin, Defying Elon Musk

Meme cryptocurrency Shiba Inu is now officially the biggest canine coin after surpassing Dogecoin. According to CoinGecko data, its current market cap is $31 billion.

Dogecoin, the meme cryptocurrency supported by Elon Musk, has now been pushed out of the top 10.The centibillionaire is widely believed to be responsible for Dogecoin’s massive surge in early 2021, but his recent tweets about the coin have failed to make a ripple.Shiba Inu reached a new all-time high for the first time since May on Sunday, but it quickly shed some gains after Musk tweeted that he didn’t own any SHIB tokens, putting months of speculation to bed.The snub, however, has failed to put a dent in Shiba Inu’s unstoppable rally, a sign of his dwindling influence over the cryptocurrency market. SHIB is up 420% this month, crushing other altcoins.

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