shiba inu (SHIB)managed to surpass stablecoin DAI in CoinMarketCap’s ranking of cryptocurrencies by market cap. SHIB gained more than 6.3% in value last week, placing 13th with a total capitalization of $7.21 billion. Currently, Shiba Inu continues to lag behind its main competitor, Dogecoin at 11th place, by $1.3 billion.
Koinfinans.com As we reported earlier, SHIB looks like it has a good chance of passing DOGE in the near future. Ethereum whales Regular purchases of SHIB by SHIB and more positive price action increase the likelihood of SHIB crossing DOGE, which has not been seen for a while.
of Shiba Inu Possible support for Dogecoin’s march to take the seat could come with the release of Shibarium, a Layer 2 protocol from the Shiba Inu team. The solution will greatly increase the turnover and use of SHIB and other ecosystem coins such as BONE or TREAT. As previously announced, Shibarium may launch its solution this quarter with more than two weeks.
Shiba Inu (SHIB) Price Review
The Shiba Inu price review is still trading in the $0.0014 – $0.0017 price range created four months ago during the large-scale decline of SHIB’s entire crypto market. Now the price of SHIB has rallied to $0.000013, which is in the middle of the range and is not a good entry point for the position.
The last two times, at the end of August and at the end of the first week of September, the Shiba Inu has managed to stay close to the lower end of this range and not fall below this resistance level. If positivity prevails in the market, which is not even related to the movement of the main cryptocurrency, SHIB has a chance to grow ahead of DOGE.
You can follow the current price action here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.