Shiba Inu (SHIB) Might Displace Cardano as Top 10 If This Happens

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Shiba Inu (SHIB) has been in bullish recovery mode for over 24 hours. Remarkably, the token whale has moved as much as 1.5 trillion SHIB in the past 24 hours in hopes of sustaining its overall boosted rally. At the time of this writing, SHIB was trading at $0.00002544, an increase of 2.56%. around Data from CoinMarketCap.

The memecoin project is currently considering re-entering the top 10 coins by market capitalization if it can maintain its growth pace. According to current data, the market capitalization increased by more than 2% to $14,943,256,400, making it the 11th largest coin.

Currently, Cardano (ADA) stands between Shiba Inu and Elite Ranking. Cardano’s current value is $16,887,562,96. Although the gap between both protocols is still large, Shiba Inu’s growth rate is high and, if maintained, could help speed up ranking bids.

The Shiba Inu has been retesting all major odds recently. It managed to grow from a weekly low of $0.000023 to a high of $0.000028 before reaching its highest price at the current price spot.

Shiba Inu aiming to improve performance

In addition to the move to retest the top 10 coin rankings, Shiba Inu has more pressing ambitions. Memecoin recently announced plans to implement a hard fork of Shibarium, a layer 2 scaling solution. This major upgrade is scheduled to be published on his mainnet on May 20th.

It remains unclear what impact the hard fork will have on SHIB’s deflationary drive. However, core developers emphasized how the hard fork helps reduce block processing time. It also eliminates the unstable pricing system during times of congestion.

Supporters of the Shiba Inu hard fork are optimistic that the upgrades will improve efficiency and drive demand that will benefit SHIB in the long run.

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