Dogecoin Overthrows Shiba Inu as Market Show Signs of Recovery

• Dogecoin has outperformed Shiba Inu in percentage gains.
• The cryptocurrency market has seen signs of recovery in the recent past.
• Baby Dogecoin has outperformed other dog-themed cryptocurrencies.

About 63% of Dogecoin holders are still making a profit, according to statistics from a blockchain analytics firm, IntoTheBlock. The remaining 35% of Dogecoin holders are losing money.

In comparison, 45% of investors in Shiba Inu are making a profit, while just 1% are breaking even, and 54% are still losing money, even though the cryptocurrency market has recently begun to come back. However, the price of Shiba Inu has increased.

Over the last several months, the value of both cryptocurrencies has seen a steep decline, although there has been some improvement in the recent past. According to statistics provided by CryptoCompare, the performance of both cryptocurrencies over the previous year has been fairly correlated.

Experts predict that February will remain a pleasant memory for investors, especially those who bet on popular meme currencies like Floki, Baby Doge Coin, and Shiba Inu. This is because the cryptocurrency market is going into tumultuous seas in February.

Baby Doge Coin, a spinoff of already existing Dogecoin, experienced a significant increase in price on Feb. 7, with its value surging by nearly 9.50%, according to Coinmarketcap data.

Although this growth has since stabilized, Baby Doge Coin has still outperformed other dog-themed cryptocurrencies, such as Shiba Inu (SHIB), Dogecoin (DOGE), and BoneShibaSwap (BONE) in terms of weekly gains, rising by 114% over the last seven days.

According to Coinmarketcap, Dogecoin (DOGE) is changing hands at $0.09072, a 2.25% fall within the last seven days. On the other hand, according to CMC, Shiba Inu has been trading at $0.0000139, an 18.13% gain within the same timeframe.