The global crypto market managed to reclaim a market capitalization of $2 Trillion. This is a good sign of market recovery, with positive sentiments rolling around.
Shiba Inu (SHIB), popularly known as the Dogecoin (DOGE) Killer and widely known as meme cryptocurrency, was among the top gainers on Monday and showed an incredible performance. At the same time, the price of SHIB skyrockets 50% to $0.00003518 in the last 24 hours.
As per CoinMarketCap (CMC) data, the Shiba Inu coin is now up 60.25% for the week. Following this surge in price, SHIB token also succeeded in reclaiming $19 billion of market cap and managed to flip Binance USD (BUSD) to become the 13th biggest cryptocurrency globally by market value.
SHIB is now looking to defeat its rival Dogecoin (DOGE), another canine-themed meme coin, which is currently standing at 12th position, holding a market capitalization of $22,247,834,672 ($22B).
Overall, SHIB is still trading well below its all-time high (ATH) price of $0.00008845 registered on October 28, 2021 (3 months ago). But the momentum of buyers suggests that SHIB may hit a new all-time high price (ATH) soon in the coming weeks.
The 24-hours trading volume for Shiba Inu seems to increase day after day and is currently standing at $4,948,894,999.99, which means it showed an increase of 81.34% compared to yesterday’s volume of $4,764,331,365.81.