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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
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.