Shiba Inu (SHIB) Breaks 8th Place In Crypto Top 10 With Unprecedented Rally
2021年10月29日 - 02:00AM
NEWSBTC
Shiba Inu is arguably one of the most talked-about cryptocurrencies
in the space now. The meme coin had managed to crawl out of growing
obscurity to the forefront of the crypto market. While the broader
market has suffered alongside top cryptocurrency bitcoin, Shiba Inu
has had other plans. Carving out its own growth pattern, the value
of the asset had rallied to a new all-time high on Wednesday. Its
break above $0.00004 and the subsequent crash had led the market to
believe that the rally would be short-lived. SHIB had promptly
fallen back to range $0.00003 range after hitting its new all-time
high. But going against expectations, it had resumed its rally
again and this time, its price had once again doubled, peaking
above $0.00008. SHIB’s price in addition to its total supply has
pushed the coin into the top ten cryptos and past its rival
Dogecoin. Related Reading | Why Shiba Inu (SHIB) Rallied 266%
Following Biggest Dump In Its History Playing With The Big Dogs
Shiba Inu’s entry into the top 10 cryptocurrencies by market cap
has put it in a position where it has to square up to bigger
projects. One problem for SHIB remains its lack of use cases.
Pushing past Dogecoin which has been in the top 10 for a while
means that the project will have to evolve if it wishes to retain
its prestigious position. Doge used its application as a payment
option for its use case expansion. It remains to be seen what SHIB
will use to cement its place in the top 10. SHIB price wavers at
$0.00007296 | Source: SHIBUSD on TradingView.com The meme coin’s
price has although not faltered in the face of its lack of use
cases. In what looks to be a hype-fueled market, SHIB’s price has
maintained its upward momentum for over three weeks. The primary
pull towards the altcoin has been the massive returns. It has
returned over 1,000% gains in its recent rally and the push for
$0.0001 has continued. Shiba Inu May Just Be Here To Stay The Shiba
Inu community has continued to push for listing on Robinhood.
Public.com, a direct competitor to Robinhood, had listed the meme
coin last week in light of increased demand. However, there is
still no word from Robinhood regarding the listing of the asset. As
the market awaits the trading platform’s decision, an interesting
development occurred in the valuation of the two assets. Related
Reading | Shiba Inu (SHIB) Jumps 50% To ATH Amid Robinhood
Rumors SHIB’s rally caused the total valuation of the asset to
surpass $40 billion. This has helped it beat out coins like
Dogecoin and DOT to move upwards on the crypto top 10. But these
are not the only notable projects Shiba Inu has surpassed.
Robinhood, on which the meme coin is yet to be listed, is only
worth $30 billion. This means that SHIB’s valuation is greater than
that of Robinhood. Featured image from Coingape, chart from
TradingView.com
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