Shiba Inu continues to attract attention as many crypto investors try to rake in a hefty Christmas bonus.
Shiba Inu recent trends have outperformed market expectations, The meme coin has been on the rise in recent weeks, with demand in the commodity increasing by the day. This has culminated in a surge that has seen the meme coin surpass its prior peak. At the outset of the week, rumors of a Robinhood IPO had pushed the asset’s price up.
The meme coin has recorded 41.35% and 180.87% respectively on the 24-hour and 7-day trading average in comparison to Dogecoin’s 22.19% and 15.22%.
The rumor’s momentum, on the other hand, has taken on a life of its own. With its recent surge, SHIB has established itself as a serious contender for the top meme coin.
Dogecoin, on the other hand, does not seem eager to give up its crown without a fight. SHIB has made a comeback, but Dogecoin has fought back as well. Despite being less impressive than its rival, it was able to push the meme coin’s price above the $0.3 resistance level. In the top ten, the Shiba Inu has taken over.
The Shiba Inu has long been dubbed “Dogecoin Killer.” Recent occurrences have demonstrated that this is possible. Dogecoin has maintained its reputation as the first meme cryptocurrency. It had acquired substantial support, causing its price to rise to an all-time high of $0.7.
Doge’s prominence as a meme coin undoubtedly paved the path for others like SHIB. Shiba Inu is now the most popular meme coin among investors, at what appears to be the end of an era. SHIB’s market cap surpassed $40 billion for the first time during its climb to a new all-time high.
This puts it ahead of Dogecoin, which still has a market valuation of under $40 billion. Shiba Inu has already surpassed Dogecoin in the top ten, taking over 9th place.
If you purchase $8,000 worth of Shiba Inu (SHIB) last August has seen the value of the coins grow to a whopping $5.7 billion at Shiba Inu’s all-time high of $0.00008845. At the time of writing this article, it was trading at $0.000070 down for its ATM.
Already the temptation might be hard to resist, investors still have to be careful in investing that money In a highly volatile market.
