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Dogecoin jumps 40% as ‘long DOGE, short SHIB’ trade plays out

The meme cryptocurrency slipped below Shiba Inu in the marketcap rankings last night. But traders are putting it back up.

Dogecoin jumps 40% as ‘long DOGE, short SHIB’ trade plays out

Cover art/illustration via CryptoSlate

Dogecoin (DOGE) jumped nearly 50% this morning as ‘Dogecoin Killer’ Shiba Inu (SHIB) fell -10%, displaying signs of a mean reversion trade to bring the Dogecoin and Shiba Inu market caps to parity.

Mean reversion strategies attempt to capture profits as the price of asset returns to more normal levels, or the average.

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