Shiba Inu is now a top-20 cryptocurrency with SHIB price soaring 300% in 9 days

Published 10/09/2021, 10:41 AM
Updated 10/10/2021, 12:20 PM
SHIB/USD
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The run-up in the price of Shiba Inu (SHIB) so far in October has pushed the SHIB token to become the 20th largest digital asset by market capitalization.

Shiba Inu's circulating market valuation jumped to $11.08 billion earlier this week and is currently above $10 billion, putting it in the top-20 by market cap for the first time. As a result, the Dogecoin-inspired meme cryptocurrency became more valuable than popular blockchain projects like Stellar (XLM), Polygon (MATIC) and Tron (TRX).

SHIB market cap versus price. Source: Messari
SHIB/USDT daily price chart. Source: TradingView.com
SHIB/USDT four-hour price chart featuring descending triangle setup. Source: TradingView.com

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