Although Shiba Inu (SHIB) is still having difficulty staying afloat, it has made a significant turnaround recently as seen by its rise in the market capitalization ranking. Shiba Inu is now selling for $0.000009576, down 2.24% over the last 24 hours.
Internet Computer (ICP) overtook the meme coin as the 16th most capitalised digital currency earlier this week, when the cryptocurrency market—and Shiba Inu in particular—saw some negative action. ICP has shed more of the gains that allowed it to surpass SHIB in the first place, while Shiba Inu is still fighting its own demons.
Shiba Inu’s market capitalization is $5,633,206,547, according to data from CoinMarketCap. In contrast, Internet Computer’s market capitalization is $5,506,809,515 since it has had a more severe decline of 10% over the last day compared to SHIB’s 2%.
The power of each company’s bulls will determine which cryptocurrency will win the race for dominance, Shiba Inu vs. Internet Computer, since current market conditions have significantly levelled the playing field for all cryptocurrencies.
Shiba Inu (SHIB) price: How high can it go?
Like a lot of other cryptocurrencies available right now, Shiba Inu is going through a significant downturn, which might eventually be the coin’s critical liftoff. Given the current state of the market, Shiba Inu is expected to have a positive turnaround after the current negative sell-offs have completed.
Shiba Inu will undoubtedly regain its lost value during this bullish upswing, and the meme currency is expected to retest the $0.00001 price point that it has touched many times in the previous few months.
Shiba Inu has the means to achieve this objective; at the moment, whale activity and burn rate serve as complimentary triggers.
