Dogecoin (DOGE) Skyrockets 27%: Will Shiba Inu (SHIB) Grow Even Bigger?

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The largest and perhaps most popular meme cryptocurrency Dogecoin (DOGE) ends the third week of October on an extremely bullish note with a 28.5% gain and a price of $0.143. This price level for DOGE is the highest since June 10, which is more than a third of a year.

As a result, in one week, Dogecoin has wiped out the entire price decline of the meme cryptocurrency over the past four months, and discussions in the crypto space are already including talk of not only reaching an all-time high soon, but going as high as $1 per DOGE.

Source: CoinMarketCap

What could be next for Dogecoin is certainly an interesting question, but even more interesting is who will be next after DOGE in repeating such a result. There is no doubt about it and the number one candidate to watch out for is Shiba Inu (SHIB).

Spotlight: Shiba Inu (SHIB) price

It's no secret that SHIB is a kind of beta game for DOGE, and the movements of the two meme tokens often correlate.

Indeed, their price movements are identical in nature, and the last few weeks have been no exception. However, the price of the Shiba Inu token has only increased by 7.11% over the last week, following a similar pattern to DOGE, but with four times less result.

From one point of view, Dogecoin has its triggers in the form of the U.S. election, something SHIB does not have. However, few would argue that the cryptocurrency market is ultimately governed by what is depicted on the price chart, and on that basis there is little doubt that the Shiba Inu token will continue to follow its "elder" upward.