Trending Shiba Inu meme cryptocurrency has soared to 11th place on CoinGecko with Dogecoin sitting in 10th place
According to data provided by market analysis website CoinGecko, “DOGE Killer” Shiba Inu (SHIB) reached 11th place on his cryptocurrency market capitalization scale.
Is Shiba Inu catching up with DOGE?
Dogecoin is sitting right in front of SHIB, holding 10th place. SHIB’s market cap currently stands at $ 15,586,261,716. Dogecoin market cap stands at $ 29,791,496,909
CoinMarketCap data shows a bit different picture. As per CMC, SHIB is ranked 14th at the moment with a $12,297,213,384 market cap, while Dogecoin sits in 10th place with a market capitalization value equaling $29,700,232,903.
As of this writing, SHIB is trading at $ 0.00003119, up 14.49% in the past 24 hours.
SHIB rebounds after major correction
This week, after falling in a massive correction, Shiba Inu started a reverse. The coin’s gains last week were also impressive, as it gained over 300 percent and then lost around 40 percent. That has been the largest retrace in the token’s history so far.
The 300 percent rally was driven by an anonymous crypto whale who first bought 6 trillion SHIB, then added three more pieces to its position, totaling 276 billion meme tokens.
As reported by U.Today, the coin has been drawing the attention and investment of other whales as well, both recently, in August-September and back in May, when it reached an all-time high of $0.0000388.
Currently, SHIB is trading at $ 0.00003135, which is 37.11% below its all-time high in May.
Shiba Inu has recently been listed on Coinbase, and the community now believes that the Robinhood app is preparing to start trading it as well. Quotes on major platforms this year, such as eToro and Coinbase, caused the coin’s price to rise.
