u.today
According to the data provided by CoinGecko market analytics website, the “DOGE killer” Shiba Inu (SHIB) has advanced as high as the top 11 spot 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 tokens history so far.
The 300-percent rally was driven by an anonymous crypto whale who bought first 6 trillion SHIB and then added to their position three other lumps, totaling 276 billion of meme tokens.
As reported by U.Today, the coin 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.