Shiba Inu, the famous memecoin had passed Cardano, one of the top 10 most valuable crypto coin by a boost of 15%.
Shiba Inu, the meme coin with a Shiba Inu dog as its mascot, just rocketed 15% in value. This jump was enough to push another cryptocurrency, Cardano, out of the top 10 most valuable ones.
There are a few reasons why SHIB might be on the rise. It has gained new partnerships, more people buying it, and even burning some of the coins in circulation to make the rest more valuable. They also have an upgrade coming soon that could make things smoother for users. Overall, Shiba Inu’s success shows that meme coins are getting more popular.
SHIB’s Price Surges
SHIB’S price jumped almost 15% in a day, reaching around $0.000029! This means it’s now more valuable than a similar cryptocurrency called Cardano (ADA). Although Shiba Inu briefly reached an even higher value, it’s currently settled at around $16.9 billion. Interestingly, this isn’t the first time SHIB has surpassed Cardano, hinting at some competition between the two.
On another note, Shiba Inu isn’t quite the king of meme coins yet. That title belongs to Dogecoin (DOGE) which is still worth more overall. But hey, Shiba Inu is doing well! During this rise in value, trading for SHIB boomed to almost $1.9 billion, beating out other meme coins.
What Pushed SHIBA So High?
Several factors are contributing to the rising popularity of SHIB, The SHIB team is collaborating with other companies to increase awareness of SHIB. Investors are jumping back into SHIB, which is propelling it up the cryptocurrency rankings. To make their SHIB more valuable, the creators are getting rid of some existing tokens.
They’re also giving SHIB a tech upgrade to make it faster and more secure. SHIB rise to the top 10 shows how popular meme coins are getting, and why everyone’s watching to see what happens next in the wild world of crypto.
Crypto markets are volatile by nature. One should do their own research before investing.
Also Read: Ronaldo Goes Crypto: Hails Binance
