Formerly SHIB was a community driven project based on the Shiba Inu dog meme whose main popularity was driven by social media. Dubbed the “Dogecoin killer” because the project site claims it “can stay well under a penny and can outperform Dogecoin in no time, without a centralized team, without funding, and without direct leadership. In addition to a statement from Elon Musk the price of the Dogecoin token has floundered over the past seven days, meme-coin rival Shiba Inu (SHIB) has climbed the rankings in terms of weekly profits.