Shiba Inu (SHIB) outperforms Litecoin, Chainlink, and Bitcoin Cash by Market Cap
Shiba Inu (SHIB), a cryptocurrency named after a Japanese hunting dog breed, has climbed into the top 15 most valuable cryptocurrencies by market capitalization.
According to CoinMarketCap data, the cryptocurrency, which was established by an unknown developer named Ryoshi in late 2020, has already surpassed Litecoin, Chainlink, and Bitcoin Cash.
SHIB is barely 18% away from regaining its all-time high set on May 10.
In just a week, the Dogecoin clone has risen more than 300 percent, becoming the best-performing cryptocurrency amid a surge in retail interest.
Shiba Inu is now the most traded cryptocurrency on Binance, Coinbase, and Huobi, with a daily volume of $19.4 billion.
Over the previous 24 hours, Dogecoin, the original canine humor coin, has lost 5% of its value.
The increase heightened the animosity between Dogecoin and Shiba Inu supporters.
Glauber Contessoto, a self-proclaimed Dogecoin millionaire, reportedly recalled that Ethereum co-founder Vitalik Buterin had donated some of the SHIB tokens he had been given and subsequently burnt the remainder. Meanwhile, he became a member of the newly re-established Dogecoin Foundation’s advisory board.
Dogecoin co-founder Billy Markus even claimed that he had received a death threat from the Shiba Inu community back in May.
Tesla CEO Elon Musk is yet to acknowledge SHIB even though many suggest that a recent photo of his Shiba Inu puppy might have triggered the triple-digit rally.
.Billy Markus, a co-founder of Dogecoin, stated in May that he had received a death threat from the Shiba Inu community.
Even though many speculate that a recent snap of Tesla CEO Elon Musk’s Shiba Inu puppy spurred the triple-digit rise, Musk has yet to recognize SHIB.
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