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Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U. Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Shiba Inu (SHIB) has managed to sustain its ongoing bullish momentum with its price sitting comfortably at $0.00003887, up by 45.07% in the past 24 hours. The growth of Shiba Inu has pushed it up 295% in the past seven days, helping to extend its market capitalization to $22,891,692,109.
The growth outlook of Shiba Inu has made it record more history than it has ever recorded before. At the time of writing, Shiba Inu is now the 10th largest digital currency after displacing Avalanche (AVAX) from that position. This is a major milestone considering Shiba Inu was almost ousted from the top 20 as the price failed to cross the $0.00001 resistance point weeks ago.
Shiba Inu has truly transformed its fortune within the twinkling of an eye. Its 24-hour trading volume has soared by 236% to $13,531,449,496. This metric in particular has surpassed that of Cardano (ADA), XRP, Solana (SOL) and even Dogecoin (DOGE), as of press time.
Per the current outlook, Shiba Inu is making a play to retest the $0.00004 price mark, a feat which, if achieved, will mark the best performance since October 2021.
There is a major shift in the digital currency ecosystem that is being fueled by the inflow of capital into Bitcoin (BTC) through the spot BTC ETF. Shiba Inu is sitting at the forefront of this shift and is threatening to displace Dogecoin as the most valuable meme coin in history.
Though there is still a massive dollar valuation to cover before beating DOGE’s record, the sustenance of its growth trend and the slight cool-off in Dogecoin may help fasttrack this shift in the midterm.
The alt-season is shaping up to come earlier than imagined, and with more use cases and deflationary features surrounding Shiba Inu, this overtaking might be inevitable in the long run.