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Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Shiba Inu (SHIB) Breaks 8th Place In Crypto Top 10 With Unprecedented Rally

Best Owie
Best Owie
3 years ago
3 mins read
Picture of a Shiba Inu logo

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Shiba Inu is arguably one of the most talked-about cryptocurrencies in the space now. The meme coin had managed to crawl out of growing obscurity to the forefront of the crypto market. While the broader market has suffered alongside top cryptocurrency bitcoin, Shiba Inu has had other plans. Carving out its own growth pattern, the value of the asset had rallied to a new all-time high on Wednesday.

Its break above $0.00004 and the subsequent crash had led the market to believe that the rally would be short-lived. SHIB had promptly fallen back to range $0.00003 range after hitting its new all-time high. But going against expectations, it had resumed its rally again and this time, its price had once again doubled, peaking above $0.00008. SHIB’s price in addition to its total supply has pushed the coin into the top ten cryptos and past its rival Dogecoin.

Related Reading | Why Shiba Inu (SHIB) Rallied 266% Following Biggest Dump In Its History

Playing With The Big Dogs

Shiba Inu’s entry into the top 10 cryptocurrencies by market cap has put it in a position where it has to square up to bigger projects. One problem for SHIB remains its lack of use cases. Pushing past Dogecoin which has been in the top 10 for a while means that the project will have to evolve if it wishes to retain its prestigious position. Doge used its application as a payment option for its use case expansion. It remains to be seen what SHIB will use to cement its place in the top 10.

Shiba Inu price chart from TradingView.com

SHIB price wavers at $0.00007296 | Source: SHIBUSD on TradingView.com

The meme coin’s price has although not faltered in the face of its lack of use cases. In what looks to be a hype-fueled market, SHIB’s price has maintained its upward momentum for over three weeks.

The primary pull towards the altcoin has been the massive returns. It has returned over 1,000% gains in its recent rally and the push for $0.0001 has continued.

Shiba Inu May Just Be Here To Stay

The Shiba Inu community has continued to push for listing on Robinhood. Public.com, a direct competitor to Robinhood, had listed the meme coin last week in light of increased demand. However, there is still no word from Robinhood regarding the listing of the asset. As the market awaits the trading platform’s decision, an interesting development occurred in the valuation of the two assets.

Related Reading | Shiba Inu (SHIB) Jumps 50% To ATH Amid Robinhood Rumors

SHIB’s rally caused the total valuation of the asset to surpass $40 billion. This has helped it beat out coins like Dogecoin and DOT to move upwards on the crypto top 10. But these are not the only notable projects Shiba Inu has surpassed. Robinhood, on which the meme coin is yet to be listed, is only worth $30 billion. This means that SHIB’s valuation is greater than that of Robinhood.

Featured image from Coingape, chart from TradingView.com
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Best Owie
Best Owie

Best Owie

Best Owie is a seasoned managing editor with a wealth of experience currently serving as the Managing Editor at NewsBTC. Best is a highly skilled professional with a track record of producing engaging and informative content. With a keen eye for detail and a passion for accuracy, Best is committed to ensuring that each article published meets the highest standards of quality.

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Best has over six years of experience in the crypto industry and has overseen the creation and publishing of thousands of articles over the years. Best is always abreast of everything that is going on in the crypto industry in order to create and curate the most relevant content for readers. This shines through in Best’s publications, which are always clear and concise, enabling easy reading and understanding for all.

Best is also an avid learner and advocate for new technology. This has seen Best dive into topics in areas such as decentralized finance (DeFi), non-fungible tokens (NFTs), Layer 2 blockchains, etc. In addition to this, Best is a vocal member of the crypto community across various social media platforms such as X and Reddit. Best’s work garners tens of thousands of readers monthly, who rely on the information in these publications to keep up-to-date with everything happening in the crypto community.

Best’s articles explore breaking news, intricate systems such as yield farming, liquidity pools, and other decentralized finance (DeFi) systems. This is because Best understands the importance of information to gaining financial freedom and believes that everyone should have access to this information.

Best also believes in leveraging the blockchain for philanthropy to create the most positive social impact. This involves work with charitable organizations focused on financial literacy and education. With each article, Best lends a voice to important issues such as a more financially inclusive future, transparent systems for growth and development, and technology that is not self-serving but one that serves all of humanity.

When not curating engaging content, Best can be found reading a book with a cup of hot chocolate, enjoying a Netflix series, or exploring the outdoors with Green - the world’s most quiet and well-behaved Husky. Best’s interests also span other industries such as art, finance, and security, attending seminars and conferences in not just the crypto industry but other industries as well.

As an animal lover, Best is also involved with charities for animals, local shelters, and rescues. Best is also involved in local events that promote inclusivity, such as being a prominent member of hiking clubs and a cycling club, as well as being a part of a very happy group of animal lovers.

Best is a true professional in every sense of the word, with an exceptional dedication to producing high-quality work. This shines through in Best's work on and off the clock. These include advocating for inclusive crypto education for all, the impact of financial illiteracy, and the benefits of adopting new technologies such as cryptocurrencies. Best’s prolific career in the media industry is a testament of how hard work and dedication pays.

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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

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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