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Shiba Inu (SHIB) surges to third place on CoinMarketCap’s weekly trending coins list.
Shiba Inu has emerged as the third most trending coin of the week, according to the latest report released by CoinMarketCap. The popular canine-themed cryptocurrency is ranked just behind Pepe (PEPE) and Bitcoin (BTC).
#CMCStats: Weekly Market Overview 👀#Bitcoin reached $30K this week! $PEPE, $BTC, and $SHIB made it in the Top 3 Trending Token 🔥 $VEED, $PEPE, and $STX gained big!
What will this new week bring? pic.twitter.com/zVJOxeSykj
— CoinMarketCap (@CoinMarketCap) June 24, 2023
Pepe (PEPE) has taken the spotlight as the most talked-about currency of the week, while Bitcoin (BTC) secured second place. Kaspa (KASP) claims the fourth spot, closely followed by Ethereum (ETH) in fifth place. Other notable coins in the top 10 include SCAM (SCAM), Alien Worlds (TLM), Polygon (MATIC), Ripple (XRP), and Terra Classic (LUNC).
In addition, Shiba Inu has secured the top position on LunarCrush’s AltRank list, surpassing 4,481 other coins in the market. This achievement can be credited to Shiba Inu’s exceptional social media engagement and market activity performance.
Shiba Inu’s popularity has surged following a series of major updates introduced by its lead developer, Shytoshi Kusama. These updates include the introduction of Shibacals, the unveiling of Shiba Inu’s WORLD PAPER, and a partnership with Champion Apparels.
In a separate development, Welly, the burger joint powered by SHIB, has announced its plan to open two fully community-connected stores.
Meanwhile, Shiba Inu is gaining mainstream adoption at a rapid pace. Recently, Binance Pay has joined forces with Credencial Payments, a LATAM-based payments provider, and Lyzi, a crypto-focused payments app from France. This collaboration aims to promote the use of Shiba Inu as a payment method, further expanding its adoption.