Today, the popular meme-inspired cryptocurrency Shiba Inu (SHIB) saw real excitement, namely with its position onn the cryptocurrency market – in its top echelons – as it climbed into the top 10 largest cryptocurrencies by market capitalization according to CoinMarketCap, where it had long given way to Tron (TRX) and Toncoin (TON).
However, with an increase of more than 81% over the past nine days, the price of SHIB reached a high of $0.00003, and the capitalization of the popular cryptocurrency, as a result, came to the mark of $17.4 billion. This places it, for the moment, in 10th place in a ranking of the 10 largest.
The joy for Shiba Inu fans was short-lived, and as a consequence, Tron (TRX) overtook the meme cryptocurrency. This can be explained by the price adjustment of SHIB itself more than the latter’s triumph.
It seems unclear whether the Shiba Inu token will be able to reach this height again.
On the one hand, the price of the meme-inspired currency may need to calm down a bit; as of right now, SHIB hasn’t even risen over its March highs, and it still has 80% of its current value left.
However, the Shiba Inu token still has to rise by at least 260% to reach the all-time high of $0.000088, which was established in October 2021. SHIB’s capitalisation reached a height of $43.51 billion at that time. It remains to be seen if it will be sufficient this time to rank in the top 10.
