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Shiba Inu (SHIB) is now among the many high 10 greatest cryptocurrencies
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Meme cryptocurrency Shiba Inu (SHIB) has managed to surpass Cardano (ADA) by market capitalization. In keeping with CoinMarketCap, the 2 cryptocurrencies are presently valued at $16.9 billion and $16.5 billion, respectively.
The worth of the second-largest meme coin has surged by greater than 16% over the previous 24 hours, considerably outperforming different main cryptocurrencies.
Dogecoin (DOGE), which presently occupies eighth place by market capitalization, has recorded solely a modest 2.4% improve.
Nonetheless, smaller meme cash are additionally rallying onerous. As an illustration, Solana-based dogwifhat (WIF) has surged 21.4%, outperforming SHIB. Floki (FLOKI) and Bonk (BONK) have additionally managed to document double-digit good points. Pepe, which is up by only one.1%, seems to be an outlier, but it surely has nonetheless added 18% over the previous week.
As reported by U.As we speakShiba Inu (SHIB) briefly managed to surpass Dogecoin (DOGE) by market cap again in October 2021. It stays to be seen whether or not or not it is going to have sufficient momentum to repeat this feat this yr. Up to now, there may be nonetheless a $7 billion hole between the 2 rival meme cash.
Regardless of the current worth surge, SHIB continues to be down 66% from the height that was achieved on Oct. 28, 2021.
In keeping with knowledge supplied by IntoTheBlock, 70% of SHIB holders are being profitable at present costs. The overwhelming majority of the holders (76%) have owned the cryptocurrency for greater than a yr.
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