Trending Shiba Inu meme cryptocurrency has soared to the top 11 spot on CoinGecko with Dogecoin sitting on the top 10 positions.
According to the data provided by the CoinGecko market analytics website, the “DOGE killer” Shiba Inu (SHIB) has advanced as high as the top 11 spots on its cryptocurrency market cap scale.
Is Shiba Inu catching up with DOGE?
Dogecoin is sitting right in front of SHIB, holding position 10. The market cap of SHIB at the moment totals $15,586,261,716. Dogecoin’s market capitalization stands at $29,791,496,909.
CoinMarketCap data shows a little different picture. As per CMC, SHIB is ranked 14 at the moment with a $12,297,213,384 market cap, while Dogecoin sits on spot 10 with its market capitalization value equaling $29,700,232,903.
At the time of writing this, SHIB is trading at $0.00003119, rising 14.49 percent in the past 24 hours.
SHIB rebounds after a major correction
This week, after falling in a massive correction, Shiba Inu started a reverse. Last week’s gains of the coin were also impressive as it gained over 300 percent and then lost around 40 percent. That has been the largest retrace in the token’s history so far.
The 300-percent rally was driven by an anonymous crypto whale who bought the first 6 trillion SHIB and then added to their position three other lumps, totaling 276 billion meme tokens.
SHIB has been drawing attention and investments of other whales as well, both recently, in August-September and back in May, when it reached an all-time high of $0.0000388.
At the moment, SHIB is trading at $0.00003135 – that is still 37.11 percent below its May historic peak.
Shiba Inu has been recently listed on Coinbase and the community now believes that the Robinhood app is preparing to start trading it as well. Listings on major platforms this year, such as eToro and Coinbase, have provoked a price growth of the coin.
Read More On SHIB:
- As SHIB Becomes Crypto Of The Week, How Far Will SHIB Go?
- Crypto Whales Purchasing Large Amounts Of Shiba Inu, As Single Anonymous Whale Bought 6 Trillion SHIB
- Shiba Inu Becomes The 15th Most Valuable Crypto
- Shib Becomes Most-Traded Crypto on Coinbase
- Shiba Inu Futures Trading Volume Up 78x in Seven Days
- Shiba Inu Took 14 Months To Hit A Market Value Of $12 Billion, It Took Dogecoin 6 Times As Long To Reach That Milestone
- SHIB Hits 1 Million Followers On Twitter
- Shiba Inu Is Now Fifth Most Traded Crypto
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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