Shiba (SHIB) is outperforming nearly all of the top 100 coins after a sudden price spike
Shiba Inu (SHIB) currently outperforms virtually every top 100 cryptocurrency after suddenly surging 8%, according to data provided by Binance-owned data ranking site CoinMarketCap.
Only Oasis Network (ROSE), Kadena (KDA) and Quant (QNT) have managed to post bigger gains over the past 24 hours, with the latter being in the double-digit territory.
Shiba Inu is now close to overtaking Avalanche (AVAX) and regaining 12th place. The spread between the two cryptocurrencies is now less than $ 1 billion.
Bitcoin (BTC) has also regained the $50,000 level once again. The largest cryptocurrency is up 2% in the past 24 hours. As reported by U.Today, Bitcoin briefly revisited $50,000 on Friday on the U.S. inflation news, but bulls failed to hold onto the gains.
Cardano (ADA) and Polkadot (DOT) are the top performers in the top 10. Both have appreciated by around 5%.
Ethereum (ETH) keeps flatlining after gaining ground against Bitcoin earlier this week.
The OG meme Dogecoin coin also only rose 0.44%, struggling to get virtually any traction. The cryptocurrency is now down 76.64% from the peak in May.
Shiba Inu also has to recover 56.75% in order to reclaim its previous peak.
The Ethereum-based dog token remains in the spotlight despite the price correction. Earlier this week, Flexa and BitPay, two major cryptocurrency payment companies, both announced their support for Shiba Inu. SHIB also continues to see more exchange listings, with
Terra (LUNA) is the biggest laggard within the top 10, shedding nearly 3% over the past 24 hours. It is now close to ceding ground to Dogecoin after surpassing the first meme coin in early December. LUNA’s rally, which captivated the attention of the investment community earlier this month, ended up being rather short-lived.
