Dogecoin and Dogecoin-killer Shiba Inu tokens rank among the highest traded cryptocurrencies on Indian cryptocurrency exchanges. DOGE and SHIB rivalry ensues with the addition of SHIB-DOGE trading pairs on spot exchanges.

Shiba Inu coin, popularly known as the Dogecoin-killer, briefly flipped DOGE in market capitalization last week. Dogecoin regained its lost market capitalization to claim its spot in top 10 cryptocurrencies with a spike in trade volume.

Dogecoin fights for dominance in memecoins

Top cryptocurrency exchanges Binance and Crypto.com have added the SHIB-DOGE trading pair in lieu of the two memecoins’ rising popularity. Shiba Inu recently noted a massive spike in on-chain activity when daily trade volume of the meme coin exceeded that of Ethereum, Solana and other altcoins. 

Dogecoin holders are awaiting the launch of the DOGE-ETH bridge for boosting the utility of the memecoin. A Dogecoin proponent @TDogeWhisperer has revealed that developer @michilumin is working on setting up a Starlink node for DOGE as a long term effort to help the unbanked and unconnected users.

There is no confirmation from Starlink about the news yet. 

Across Indian cryptocurrency exchanges DOGE and SHIB are the top traded cryptocurrencies. 

Analysts have evaluated the DOGE price trend to examine whether Dogecoin could hit $1. @Phoenix_Ash3s is of the opinion that DOGE price rallied against Bitcoin for the first few months of 2021, since then the memecoin has made lower highs and lower lows, typically signaling a downtrend. 

The analyst believes that for DOGE price to hit $1, the memecoin needs a trend reversal to bounce back. 

 analysts have noted that DOGE price is struggling to breakout despite the $1 target.

Shiba Inu coin flipped Ethereum and Ethereum-killers on the world's largest exchange 

Solana is also expanding its footprint into Ethereum-dominant