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Shiba Inu (SHIB) and Dogecoin (DOGE), the top two meme coins by market capitalization, have been vying for dominance since the last bull cycle. Now, leading electric vehicle manufacturers Tesla and DeLorean Motors may enter the fray, each backing their preferred crypto: SHIB or DOGE.
Elon Musk, the founder and CEO of Tesla, has publicly supported Dogecoin on numerous occasions, and Tesla’s website accepts DOGE for purchases.
Rival automaker DeLorean Motors hinted that it might support SHIB payments in response to Tesla’s DOGE acceptance. This possibility was highlighted on X (formerly Twitter) by Lucie, the marketing head at Shiba Inu. If DeLorean adds this feature, it could significantly boost SHIB’s adoption and popularity.
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Lucie highlighted that DeLorean, a legendary name in the vehicular world, “isn’t just playing around—they’re making serious moves in the electric vehicle world.” If the manufacturer backs Shiba Inu, “it could be a game-changer for both the brand and the Shib community,” said Lucie while adding:
“The future’s looking more exciting by the minute! Buckle up, Shib army—something big could be coming soon!”
According to CoinMarketCap data, the total market cap of the meme coin sector is $59.2 billion, up 4.7% in the past 24 hours. SHIB and DOGE dominate the sector with massive valuations of $16.9 billion and $10.7 billion, respectively.
SHIB vs. DOGE Price Action
At the time of writing, DOGE is trading at $0.1158, up 2.6% in the past 24 hours and 7.94% in the past seven days. The meme coin jumped 9.86% in the past month but remains 84.33% down from its all-time high of $0.7376.
Read also : Retail Buys vs. Whale Sells: SHIB Price Faces Pressure Amid Rising Volatility
On the other hand, SHIB is trading at $0.00001831, up 1.8% in the past 24 hours and 5.7% in the past week. Further, in the past 30 days, Shiba Inu has skyrocketed 33.1% and has surged 161.5% since October 2023. SHIB is down 79.26% from its all-time high of $0.00008845.
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