Shiba Inu Market Cap Climbs By $500 Million – Is A Price Rally On The Horizon?

Christian Encila

Last Updated: July 13, 2023 8:22 am

3 mins read

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Shiba Inu (SHIB) has made significant strides in the digital asset market, currently holding a market capitalization of over $4.4 billion. This remarkable achievement has propelled SHIB to claim the 18th position among the largest cryptocurrencies.

Over the course of the past month, SHIB has witnessed a substantial increase in market capitalization. From June 13 up until today, there has been a surge of approximately half a billion dollars, elevating the market cap from a modest $3.9 billion to its current impressive level.

Such a substantial rise in market capitalization prompts speculation regarding the potential impact on the price of SHIB. As the SHIB market cap continues to grow, it can create a sense of optimism among investors, potentially leading to increased demand and upward price pressure for the token.

Shiba Inu market cap movement. Source: CoinMarketCap

Potential Impact On Shiba Inu Price

Market capitalization plays a significant role in determining the value and potential growth of a cryptocurrency like Shiba Inu. When a crypto coin’s market capitalization improves, it can have several implications for its price. Let’s explore the potential impact of an improved market capitalization on the price of SHIB.

As the market capitalization of SHIB grows, it indicates a rising level of investor confidence in the cryptocurrency. A higher market capitalization often attracts more investors who believe in the project’s potential. This increased demand can exert upward pressure on the price of SHIB, driving it higher.

SHIB market cap currently at $4.47 billion. Chart: TradingView.com

An improved market capitalization generally leads to increased liquidity for a cryptocurrency. Liquidity refers to the ease of buying and selling a particular asset. When there is higher liquidity, it becomes easier for investors to trade SHIB without significantly impacting its price.

This increased liquidity can create a more stable trading environment and potentially contribute to a more sustainable price trend for SHIB.

Potential For Price Volatility

When a cryptocurrency like SHIB experiences a notable increase in market capitalization, it tends to attract attention from the media, traders, and the crypto community. The positive sentiment surrounding the coin can further boost its price.

Increased media coverage and discussions within the community can generate hype and attract more investors, potentially driving the price of SHIB even higher.

Despite an increased market capitalization, SHIB’s price may still experience fluctuations due to market dynamics, news events, regulatory developments, or changes in investor sentiment.

Source: CoinMarketCap

At the time of writing, SHIB is currently priced at $0.00000746 according to CoinMarketCap, experiencing a 24-hour decline of 1.1%. Over the course of the past seven days, SHIB has witnessed a slight decrease of 0.1%.

(This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).

Featured image from Fortune

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.

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.

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.