Shiba Inu outperforms Bitcoin Cash, Wrapped Bitcoin and Stellar in Terms of Market Capitalization

• Shiba Inu (SHIB) has increased by 242.9 percent in the last seven days.
• Dogecoin is also displaying optimistic indicators right now.
• SHIB outperforms Bitcoin Cash, Wrapped Bitcoin and Steller in terms of market capitalization.

Shiba Inu (SHIB), a cryptocurrency that was inspired by the image of the Japanese hunting dog breed of the same name, has already joined the top 15 most valuable cryptocurrencies by market value. According to CoinMarketCap data, the cryptocurrency, which was established by an unknown developer called Ryoshi in late 2020, has already surpassed Bitcoin Cash. Shiba Inu is currently outperforming big names like Bitcoin Cash, Wrapped Bitcoin and Steller, in terms of market capitalization.

Shiba Inu outperforms Bitcoin Cash, Wrapped Bitcoin and Steller in terms of market capitalization

SHIB is only 18% of the way back to the all-time high set on May 10. However, the Dogecoin clone has risen more than 300 percent in a week, making it the best-performing cryptocurrency, amid unusually high retail demand.

Shiba Inu has a daily volume of $19.4 billion and it is the most traded cryptocurrency on Binance, Coinbase and Huobi. Dogecoin, the first canine meme coin, has actually gone down by 5% in the last 24 hours.

Shiba Inu outperforms Bitcoin Cash, Wrapped Bitcoin, Steller

SHIB is on a rocket to the moon, with its price increasing by 242.9 percent in the last seven days. This means that the value of this popular cryptocurrency has risen from $0.00000697 to $0.00002398 in just a week. According to the Stockwits Trending Tickers list, Shiba Inu is currently ranked first.

Shiba Inu Ranking

Glauber Contessoto burnt SHIB tokens

Glauber Contessoto, a self-proclaimed Dogecoin millionaire, reportedly recalled that Ethereum co-founder Vitalik Buterin was originally given half of the Shiba Inu coins when it was first introduced. He donated a portion them and he subsequently burnt the rest. Meanwhile, Buterin has joined the advisory board of the re-established Dogecoin Foundation.

In May, Dogecoin co-founder Billy Markus claimed to have received a death threat from the Shiba Inu community. Tesla CEO Elon Musk has yet to mention SHIB, despite the fact that many believe a recent photo of his Shiba Inu puppy spurred the triple-digit rise.

ABOUT THE AUTHOR See More

Arslan Butt

Index & Commodity Analyst

Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.

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