Meme coins November 2026 brings a split screen: the two biggest dog coins are grinding lower in a fearful market, while smaller tokens are posting sharp gains on exchange listings and supply news. Dogecoin and Shiba Inu, the sector’s heavyweights, are both down more than 35% since the end of 2025, yet a fresh head-to-head comparison published on November 8 shows the gap between them is widening on liquidity and trading activity. Meanwhile, Moo Deng surged about 35% on an Upbit listing and BONK jumped nearly 19%, reminding traders that meme-coin momentum can turn fast — in both directions.
This article is for informational purposes only and is not financial advice. Do your own research before investing.
Dogecoin vs Shiba Inu: The Tale of the Tape
A five-round comparison published by Blockchain Reporter on November 8, 2026, puts fresh numbers on the rivalry. As of that date, Dogecoin (DOGE) trades near $0.0708 with a market cap of about $11.09 billion, ranking 12th among all cryptocurrencies, while Shiba Inu (SHIB) trades near $0.00000446 with a market cap of about $2.63 billion, ranking 33rd.
The comparison ends in a 2–2 draw with one round tied: Dogecoin wins on liquidity and risk, Shiba Inu wins on supply dynamics and 2026 price performance. The tiebreaker — trading volume relative to market cap — favors Dogecoin, which traded about 12 times SHIB’s volume over the past 30 days on roughly 4.2 times its market cap. In the 24 hours to the November 8 check, DOGE traded about $240 million during a quiet weekend session, roughly 7.5 times SHIB’s $31.8 million.
Both coins are deep in the red for the year. DOGE has lost about 39.6% since the end of 2025 and SHIB about 35.4%, and they trade about 90.4% and 95.0% below their all-time highs. Since the comparison was last updated on October 28, DOGE has fallen about 10% and SHIB about 9%.
Dogecoin’s ETF Edge — and Its Recent Setbacks
One of Dogecoin’s clearest advantages is institutional access. Two U.S. spot Dogecoin ETFs are still trading — Grayscale’s GDOG and 21Shares’ TDOG — after Bitwise closed its Dogecoin fund in October. No SEC registration filing for a standalone SHIB ETF has been found, according to the comparison.
But Dogecoin’s ecosystem has also taken hits since July. Bitwise closed its Dogecoin ETF, the Dogecoin Foundation and House of Doge ended their exclusive trademark license, and Nasdaq suspended trading in House of Doge shares. The token’s cultural footprint remains large, however: Dogecoin co-founder Billy Markus drew attention this week with a humorous post on X noting that about half the dogs he saw during a visit to Japan appeared to be Shiba Inu — the breed that inspired the original Doge meme.
Shiba Inu: Burns, Shibarium, and a Quiet Network
Shiba Inu’s story this week is about supply and usage. SHIB burns — tokens permanently removed from circulation — jumped sharply in one 24-hour window, with more than 13 million tokens destroyed, a surge of about 1,200% in burn activity after a quiet stretch, according to CoinJournal. But the longer-term picture is modest: about 286 million SHIB were burned in the 30 days to November 8, worth roughly $1,300 at current prices, or about 0.0006% of supply per year — a negligible dent in a supply of about 589 trillion tokens.
Usage on Shibarium, SHIB’s layer-2 network, remains thin. The network averaged about 1,700 transactions a day over the past 30 days, and in January 2026, K9 Finance — one of its main applications — voted to shut down its Shibarium products permanently. A September 2025 bridge hack, in which an attacker drained a few million dollars, still hangs over the ecosystem, with compensation unresolved. On the brighter side for holders, SHIB is among the eligible assets in a filing for an actively managed crypto ETF from T. Rowe Price.
MOODENG and BONK Lead the Weekend Movers
While the big dogs drifted lower, smaller meme coins stole the weekend’s gains. Moo Deng (MOODENG), a Solana meme token based on the pygmy hippo at Thailand’s Khao Kheow Open Zoo, rallied about 35% from $0.1691 to $0.2282 after an Upbit listing, pushing its market cap beyond $200 million from $165 million. Its 24-hour trading volume jumped 428% as the listing news spread.
BONK also showed renewed demand, jumping from an opening price of $0.00001464 to $0.00001738 — an 18.72% gain — as traders pointed to bullish momentum signals. The moves stand out because the broader market was weak: Bitcoin held below $76,000 on Sunday, down nearly 2.7% on the week, with several major altcoins posting double-digit weekly losses, and the total crypto market cap down about 3.7%.
Why Meme Coins Are Moving This Way
Analysts watching the sector point to three drivers behind the current pattern:
- Risk-off mood: with the Crypto Fear & Greed Index at 28 and U.S. spot Bitcoin ETFs recording $1.28 billion in net outflows in the week to November 6 — the worst week since June — traders are pulling back from speculative assets first. Meme coins, which trade almost entirely on attention and momentum, feel that pull hardest.
- Listing catalysts: MOODENG’s 35% jump shows how much a major exchange listing still matters. A listing on Upbit, one of South Korea’s largest exchanges, opens a token to a new pool of buyers overnight.
- Attention rotation: with Bitcoin consolidating near $75,800 and the October CPI report due on November 10, traders are rotating between narratives. Dog-themed coins dominate headlines when their founders post, smaller tokens spike on listings, and the rest of the sector waits for a market-wide catalyst.
What Traders Are Watching Next
The near-term calendar gives meme-coin traders several dates to watch. The U.S. October CPI report on November 10 is the next major macro event, and analysts widely cite $75,000 as critical support for Bitcoin — a break below it would likely drag meme coins lower, while a hold could invite a relief bounce. For Dogecoin specifically, traders are watching the $0.07 level and whether the two remaining spot ETFs can attract inflows after a week of heavy redemptions across the crypto ETF complex.
For Shiba Inu, the watchlist is different: whether Shibarium activity recovers, whether burn rates stay elevated beyond a single day, and whether the T. Rowe Price ETF filing progresses. Analysts note that a one-day burn spike of 1,200% sounds dramatic but removes a tiny fraction of supply — sustained burns over months would be needed to matter.
The Bottom Line
Meme coins November 2026 is a story of divergence. Dogecoin keeps its lead on size, liquidity, and ETF access, but both it and Shiba Inu are down more than 35% this year and roughly 90% or more below their all-time highs. The weekend’s real action belonged to smaller tokens: MOODENG’s 35% listing-driven rally and BONK’s near-19% jump show that momentum still exists in the sector — it has just moved away from the biggest names. Traders note that in a fearful market, those gains can reverse as quickly as they appear, and the next move for the whole sector likely depends on whether Bitcoin holds $75,000 into the CPI report on November 10.
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