Godfrey Benjamin
Shiba Inu has flipped the avalanche to become the 10th largest cryptocurrency
Read U.TODAY on
Google News
Shiba Inu (SHIB) managed to maintain its ongoing bullish momentum with its price comfortably settling at $0.00003887, rising by 45.07% over the past 24 hours. The Shiba Inu's growth has pushed it up 295% in the past seven days, helping to boost its market value to $22,891,692,109.
The growth prospects of the Shiba Inu have seen them record more history than they have ever recorded before. At the time of writing, Shiba Inu is now the 10th largest cryptocurrency, having displaced Avalanche (AVAX) from this position. This is a major milestone given that the Shiba Inu was almost knocked out of the top 20 as the price failed to clear the $0.00001 resistance point weeks ago.
The Shiba Inu has truly turned its fortune around in the blink of an eye. 24-hour trading volume increased by 236% to $13,531,449,496. This metric in particular has surpassed that of Cardano (ADA), XRP, Solana (SOL), and even Dogecoin (DOGE), as of press time.
According to current forecasts, the Shiba Inu is attempting to retest the $0.00004 price tag, a feat that, if achieved, would represent the best performance since October 2021.
Will the Shiba Inu flip Dogecoin?
There is a major shift in the digital currency ecosystem fueled by the influx of capital into Bitcoin (BTC) through the BTC exchange-traded fund. The Shiba Inu sits at the forefront of this transformation and threatens to displace Dogecoin as the most valuable cryptocurrency in history.
Although there is still a massive dollar valuation to cover before beating DOGE's record, support for its growth trend and a slight cooling in Dogecoin may help accelerate this shift in the medium term.
The replacement season is shaping up to come earlier than expected, and with more use cases and contractive features surrounding the Shiba Inu, this overshoot may be inevitable in the long run.
About the author
Godfrey Benjamin
