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Breaking News: Crypto Bulls Rejoice: Congresswoman Confirms Powell’s Imminent Firing

Shiba Inu Down By 2.03% – Yet Bound To Outpace TRX And BTC?

Christian Encila
Christian Encila
2 years ago
2 mins read
Shiba Inu

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Shiba Inu price has dipped by 2.03% overnight and is now at a current price of 0.000012 USD. Nevertheless, the most popular meme coin is now ranked as the 15th largest crypto according to market cap.

SHIB currently has a live market cap of $6,573,280,152 USD and with $428,085,679 USD of 24-hour trading volume. The coin currently has a total circulating supply of 549,063,278,876,302 SHIB coins.

Despite the entire crypto space in the red for the past couple of months, SHIB has been performing well and have in fact raised their price by 31%. With that being said, many crypto investors have started to take SHIB way seriously.

In the face of the crypto crash and with major cryptocurrencies like Bitcoin, Ethereum, and others bleeding, Shiba Inu was still able to resuscitate many crypto wallets.

Shiba Inu Can Outperform TRX and BTC?

Shiba Inu has in fact outperformed Bitcoin and is gaining traction despite the turbulent crypto crash happening. The meme coin has been taking strides in maintaining the uptrend pattern. It has been consistently going for that positive momentum with much collaboration and projects happening that will ultimately take SHIB to the next level.

SHIB investors loved the experience of having a 34% boost with a breakout point pinned at US$0000116 as seen in the Shiba Inu price in June this year. The token is definitely winging it with a bullish streak signaling that the market is steering closer to a bullish run.

Many SHIB investors are looking forward and optimistic for the meme coin to go over the US$0.0000139 zone very soon.

With the issue concerning Shiba Inu hitting $1, Ethereum whales have definitely set their eyes on the top meme coin to gain as much as 11% and 24% respectively this current month.

The overall market trend is looking bullish for SHIB and the trajectory is uphill. With that in mind, many ETH whales have been hoarding and adding a total of $560 million SHIB tokens into their portfolios; that consist of around 22% of their entire digital assets.

SHIB total market cap at $6.57 billion on the daily chart | Source: TradingView.com

SHIB To Launch SHIB.io Metaverse

SHIB investors are also excited with Shiba Inu developmental projects in collaboration with The Third Floor such as Shibarium, which is a SHIB.io metaverse together with the SHIBASWAP V2 and SHI token that aims to design virtual environments or a metaverse.  

Shiba Inu has recently launched this burning portal that is designed to reward investors. With the increased amount of pressured placed on the demand and supply of SHIB, the meme coin also skyrocketed in price.

SHIB is now outpacing Tron (TRX) in terms of total market cap. Tron has a market cap of $6.33 billion while SHIB has a total market cap of $6.66 billion.

The total SHIB supply is currently at 589,625,603,102,909 and the total that has been burned out of the initial supply is at 410.37 trillion.

Featured image from BeChewy, chart from TradingView.com
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Christian Encila
Christian Encila

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Read more

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

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