Crypto analytics firm Santiment on Saturday, recently launched data showing that the Shiba Inu (SHIB) could be playing a game of following the Dogecoin (DOGE) cryptocurrency.

Data from Santiment indicates that the Shiba Inu is starting to gain momentum after showing strength in its Bitcoin (SHIB/BTC) pair.

“Whatever side of the fence you’re on with meme coins like DOGE and SHIB, there’s no denying they’ve had their pumping moments. Shiba Inu have historically followed Dogecoin pumps. Look at the trading volume on our graph”, Santiment tweeted.

At the time of writing, Dogecoin is the biggest gainer among major coins, rising 50.34% in the last 24 hours. The last 7 days also show that Dogecoin increased in value by 131.23%. Blockchain.News reported the matter on Sunday.

Shiba Inu have also performed quite well during this time. At the time of writing, the Shiba Inu price was $0.000012 and had risen 17% in the last 24 hours, making it the second fastest growing coin among the top 20 coins after Dogecoin. The last 7 days have also seen a 24% increase in Shiba Inu, which represents an impressive price performance. CoinMarketCap’s current ranking is #13, with a live market cap of $6,526,276,821 USD.

The two meme coins showed the most gains, in part due to Elon Musk’s. latest actions Related to the Twitter acquisition and in part due to market momentum, as of Thursday, the global cryptocurrency market capitalization passed the $1 trillion mark.

The data mentioned above shows that the Shiba Inu has seen its highest percentage of long-term headlines, setting a new milestone. The percentage of dealers who “have” Shiba Inu long-term has risen to 42%, a new all-time high. The data indicates that sentiment among Shiba Inu keepers is mostly bullish.

DOGE and SHIB responded to the news associated with Elon Musk’s takeover of Twitter (TWTR), with DOGE continuing its run to $0.10 and SHIB targeting a return to $0.000020. Investors expect Elon Musk to support the use of DOGE and SHIB for payments on the Twitter platform.

The news that Elon Musk closed the Twitter acquisition deal not only increased the market value of Twitter, but also some of the cryptocurrencies (DOGE and SHIB) associated with Musk.

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