It’s an intense crypto dogfight as dogecoin (DOGE) and shiba inu (SHIB), two of the most popular meme coins, battle it out for the ninth spot on the list of top digital assets by market capitalization. Some traders are profiting from the action by taking spread trades.
DOGE has come alive after lagging SHIB by a significant margin earlier this month. The joke cryptocurrency surged to $0.335 on Coinbase on Thursday, hitting the highest level since Aug. 20. It was last trading near $0.30, representing a 22% gain on the day.
Meanwhile, SHIB crashed as much as 30% to $0.00006 earlier today, having chalked out a rally to $0.00009 in the seven days to Oct. 27.