Half the size of Dogecoin

Half the size of Dogecoin

The market cap of the self-proclaimed Dogecoin killer – Shiba Inu – has risen to half that of Doge after a massive triple-digit weekly rise. As a result, SHIB is now well within the top 15 coins.

Most of the cryptocurrency market has been on a roll lately. Bitcoin walked over $55,000 for the first time since May, Ethereum reclaimed $3,500, and so on. But one digital asset has trumped all others – Shiba Inu.CryptoPotato reported on October 5 that the token had exploded 100% in just a few days after a massive walk purchase of over six trillion coins. It turned out that this was just the beginning as SHIB continued to climb and a day later started knocking at the door of the 20 largest coins by market capitalization. At that point, the token was up around 200% in a week, but that wasn't the end of its gains either. In the last 24 hours, it initiated another massive increase, peaking at $0.000035, which became the highest price line since mid-May. Additionally, according to CoinGecko, SHIB was inches away from setting a new all-time high, currently sitting at $0.000038. Despite a slight decline since the intraday high, SHIB's market cap has risen to well over $15 billion. This makes it the 12th largest cryptocurrency by this metric. Furthermore, SHIB's market capitalization is halfway away from the most famous meme coin – Dogecoin. DOGE ranks 10th in terms of market capitalization with $32 billion. With this recent increase, Shiba Inu approached Giants like United Airlines and America Airlines Group.

SHIBUSD. TradingView.