In November 2022, the Shiba Inu SHIB tickers were down $0.000015 price was the lowest compared to its top rival, Dogecoin DOGE tickers down $0.10. Three months later, the situation has shifted.
The price of SHIB has increased by 100% in comparison to DOGE.
The SHIB/DOGE pair reached 0.00001638 DOGE on February 4, 2023, up nearly 100% three months after bottoming out at 0.00000993 DOGE, its lowest level on record. The sharp recovery occurred as investors’ attention shifted to the January 16 announcement of Shibarium, a Shiba Inu-backed layer-2 blockchain built on the Ethereum main net.
As previously reported by Cointelegraph, the SHIB price rebound gained traction amid reports that Shibarium will go live on February 14.
In comparison, the fundamentals of Dogecoin appeared bleak, with Elon Musk suspending a DOGE tipping bot for violating Twitter’s rules.
What is the future of SHIB/DOGE?
Several technical indicators indicate that the SHIB/DOGE recovery trend will continue in the coming weeks.
Based on historical cycles, the pair could reach 0.00002181 by March 2023, representing a 40% increase from current levels.