According to data provided by market analysis website CoinGecko, “DOGE killer” Shiba Inu (SHIB) has advanced to 11th place on its cryptocurrency market capitalization scale.
Is SHIB reaching DOGE?
Dogecoin is sitting right in front of SHIB, occupying 10th place. SHIB’s current market capitalization totals US$15.586.261.716. Dogecoin’s market capitalization is US$29.791.496.909.
CoinMarketCap data shows a slightly different picture. According to the CMC, SHIB is currently ranked 14th with a market capitalization of US$12,297,213,384, while Dogecoin is ranked 10th with a market capitalization value of US$29,700,232,903.
So far, the SHIB is trading at USD0.00003119, up 14.49% in the last 24 hours.
Rebounds after major correction
This week, after falling into a massive correction, Shiba Inu started a reversal. The currency’s gains last week were also impressive as it gained over 300% and then lost around 40%. This was the biggest setback in token history so far.
The 300% rise was driven by an anonymous crypto-whale that first bought six trillion SHIB and then added three more pieces to its position, totaling 276 billion in meme tokens.
The currency has attracted the attention and investment of other whales as well, both recently, in August-September, and in May, when it reached an all-time high of US$0.0000388.
The SHIB is currently trading at $0.00002814 – which is still 37.11% below its historic May peak.
Shiba Inu was recently listed on Coinbase, and the community now believes the Robinhood app is getting ready to start trading it as well.
Listings on major platforms this year, such as eToro and Coinbase, caused the currency’s price to rise.