SHIB Army Rejoices as Shiba Inu Now Dangerously Close to Overtaking Dogecoin

Shiba Inu (SHIB) is the second largest meme coin by market capitalization. how to overtake Dogecoin (DOGE) from a leading position. With a difference in market capitalization of approximately $2.1 billion, members of the Shiba Inu community are excited that SHIB will soon surpass DOGE for the first time.

SHIB overtakes DOGE

A few hours ago, DOGE’s market cap was quite expensive The difference with SHIB is more than $5 billion. However, SHIB was able to rise to its current market cap of over $23.9 billion. Meanwhile, DOGE’s market capitalization is over $26.1 billion.

Remember SHIB turned over Some prominent cryptocurrencies in the last 24 hours. These crypto assets include Ron (TRX), Chainlink (LINK), polygon (MATIC), and Polkadot (DOT). This surge in market capitalization has propelled SHIB from the bottom of the top 20 cryptocurrencies to 11th among the major cryptocurrencies. In particular, it also exceeds SHIB. avalanche (AVAX) is currently ranked as the 12th largest cryptocurrency.

SHIB’s success is due to a resurgence of investor interest in meme coins. Despite starting as a meme, the Shiba Inu has gained attention through several features added to its ecosystem. One is Shibarium, an Ethereum-based layer 2 network developed for the Shiba Inu community. Since the launch of his L2 blockchain last year, the meme coin-themed network has attracted the attention of more retail and institutional customers. Some wallet providers additional support For Sibrium.

Shiba Inu team too introduced Token burn mechanism into SHIB tokens to increase asset value and control inflation.

SHIB soars 56% in 24 hours

In the past 24 hours, SHIB has increased by 56% and traded at $0.00004067. The price change also shows an impressive increase of 288% in the past 7 days. SHIB forces are confident that the meme coin will soon reach new heights as the upward trend continues.

sauce: coin statistics

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