Shiba Inu Beats Dogecoin, Becomes Most Valued Meme-Inspired Altcoin In Crypto
The Dogecoin cryptoverse continues to expand. With Shiba Inu (SHIB) cryptocurrency hitting an all time high above $0.00008456. The meme-inspired cryptocurrency has spiralled out of control, outperforming even Indian biggies like Tata Steel and Adani Enterprises.
By 4.50 pm IST on Thursday, Shiba Inu was worth $0.00007956, with growth of over 40 per cent, according to CoinMarketCap.
With a market capitalistion of over $38 billion, Shiba Inu is now one of the largest cryptocurrencies out there, taking the 11th biggest spot on Wednesday night. Currently, it stands at number eight.
Dogecoin vs Shiba Inu continues
By Thursday afternoon, Dogecoin had reclaimed its title of the largest meme-inspired cryptocurrency with a 22.93 per cent daily rise, touching $0.2954. Currently, Dogecoin holds the 10th position.
The market capitalisation of Dogecoin went past $38 billion.
It appears that analysts were too quick to proclaim Shiba Inu as the "Dogecoin Killer". Both may be united in the fact that they came into being due to meme culture, Dogecoin operates on its own blockchain while Shiba Inu works on the Ethereum blockchain.
Also read:?How Much For Your Data? This Company Gives Free Crypto For Your Eye Scan Data
Shiba Inu's price has skyrocketed by over 140 per cent, according to CoinMarketCap.
The lesson for analysts? Expect the unexpected, as has become true for all cryptocurrencies in recent times. Meme-inspired Dogecoin has been endorsed by SpaceX and Tesla's Elon Musk, who once called it the "people's crypto."
It seems that SHIB will soon be listen on Robinhood, a popular stock trading application. A petition on Change.org for Robinhood to list the cryptocurrency has received 300,000 signatures.
Also read:?Crypto Scammers Target iPhone Users On Tinder, Bumble Dating Apps
In the crypto world, Shiba Inu has received a warm public reception and the rise is expected to rally for some time to come. Dogecoin, too will continue to make gains.
Have you invested in cryptocurrency? Tell us your crypto experience in the comments below.?For more in the world of crypto and all things science and technology, keep reading Indiatimes.com.??
