Social media is abuzz with talk of Shiba Inu coin, which enjoyed an explosive rally throughout October.Shockingly, the so-called "Dogecoin killer" surpassed Doge in marketcap at the end of the month to become the 9th largest cryptocurrency in the world.In the long run, Shib is unlikely to replace Doge, but its rise is another sign that meme-backed assets are more powerful than anyone imagined.Let's take a look at what Shib's rise means for Dogecoin and the growing meme economy.
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Doge, Shib, and the Meme Economy
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Social media is abuzz with talk of Shiba Inu coin, which enjoyed an explosive rally throughout October.Shockingly, the so-called "Dogecoin killer" surpassed Doge in marketcap at the end of the month to become the 9th largest cryptocurrency in the world.In the long run, Shib is unlikely to replace Doge, but its rise is another sign that meme-backed assets are more powerful than anyone imagined.Let's take a look at what Shib's rise means for Dogecoin and the growing meme economy.