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SHIB Close to Breaking into Top 10 After Outranking DOT, LTC

Published 02/06/2023, 05:58 AM
Updated 02/06/2023, 06:00 AM
© Reuters SHIB Close to Breaking into Top 10 After Outranking DOT, LTC

  • SHIB surpasses Polkadot and Litecoin to claim 12th position among prominent coins.
  • The meme coin’s market cap is now over $8 billion, up from $4 billion five weeks back.
  • Ethereum whales hold over $700 million worth of SHIB on average.

In an unprecedented move, one of the most popular meme tokens, Shiba Inu (SHIB), has outranked two significant cryptocurrencies to claim the twelfth position among coins with the largest market cap.

According to data from the market tracking website, CoinMarketCap, SHIB surpassed Polkadot (DOT) and Litecoin (LTC) in market valuation after maintaining a cumulative seven-day growth of 21.80%. SHIB’s market share now stands over $8 billion, up from about $6 billion in the last seven days.

At the start of the year, Shiba Inu had a market cap of about $4 billion, ranking at position 15. But its market share has almost doubled within the last five weeks as more crypto enthusiasts and prominent investors jump on the SHIB train.

The Shiba Inu community eagerly anticipates that the meme coin will break into the top ten list to rank alongside Ethereum (ETH), Ripple (XRP), and Binance Coin (BNB). According to WhaleStat, a tracke…

The post SHIB Close to Breaking into Top 10 After Outranking DOT, LTC appeared first on Coin Edition.

See original on CoinEdition

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