The cryptocurrency market cap stayed above the important level of $2.5 trillion last week. While Bitcoin, Ethereum, and Binance Coin saw marginal gains in the last week, Shiba Inu climbed by more than 40% during the mentioned period. Due to the latest spike, SHIB’s market cap has jumped above leading digital assets, including Chainlink, Litecoin (LTC), and Bitcoin Cash (BCH). Shiba Inu is now the 13th most valuable cryptocurrency asset in the world.
Shiba Inu is +26% in the past 24 hours.
“Shiba Inu is +26% in the past 24 hours while the rest of the crypto markets are mostly flat. The young, the rising asset continues pumping eerily in tandem with moments of crowd negativity and doubtful commentary,” crypto analytics platform Santiment highlighted. The overall market sentiment around cryptocurrency has been positive since the start of 2021. The meme token remained the best-performing cryptocurrency among the top 20 during the first nine months of 2021. Some leading institutional investors have also started considering Shiba Inu as a good tool for portfolio diversification.
Shiba Inu’s market cap is getting closer to the Dogecoin.
Earlier yesterday, Shiba Inu touched the price level of $0.000044, its highest level on record. The meme coin started this year with a market cap of a few million dollars. Known as the “Dogecoin Killer,” SHIB was created in 2020. Shiba Inu’s market cap is getting closer to the Dogecoin. Several leading digital exchanges started listing social coins to meet the growing demand from customers. The growing popularity of these kinds of social tokens has contributed a lot towards the overall growth of Shiba Inu in 2021. SHIB’s significant 40% jump in the last seven days shows that the cryptocurrency has the potential to become the most valuable meme token in the world.