Shiba inu surges by 29% after a dip in 24 hours

Shiba Inu SHIB in uptrend and price is rising. Crypto coin symbol and up arrow. Uniswap flies to the moon. Vector illustration.

Shiba Inu, the meme coin inspired by $DOGE has lately been in talks. Its price had dipped by more than 6% a few hours ago. However, the prices are soaring again by 29%.

Crypto market was down

Many well known cryptocurrencies such as Bitcoin, Ethereum, Polkadot, Solana etc had there prices declining. While most of them couldn’t recover the losses, Shiba inu not only recovered but also soared by a huge 29% in the past 24 hours.

Shiba: The top mover

While the crypto market is a little down, few of these digital currencies managed to be in the race. Out of the Shiba has been one of the top movers. It’s at the second position after XYO (an Ethereum token powering XYO network) that surged by 38.03% in last 24 hours. Ye

A Place in Top 10 cryptocurrencies?

While others fall, $SHIB rises. With every minute Shiba inu rallies forward. With this pace if it continues moving upwards it might overtake USDC coin and become the tenth largest cryptocurrency by market capitalization. This will be a treat for its investors since, the coin has already garnered commendable popularity over time and has its orice soaring for days now. Last month it soard by a huge 889%. Not only that, compared to last year the meme inspired crypto showed a whopping 15 million percent surge.

Overshadowed $DOGE?

Shiba was initially inspired from $DOGE. However, in the present situation, its inspiration turned rival has been down for a while. The last reported figure shows that dogecoin is down by 1.63%. Earlier this week $SHIB had surpassed $DOGE in terms of market capitalization. The former hit a market capitalization of $40 million, surpassing its inspiration. However, currently Shiba has a market cap of $34.6 million. This is still higher than Doge’s market cap of $34.2 million.

$SHIB is expected to keep its consistency and soar even more in future. The current situation indicates that the meme frenzy crypto world is taking over other cryptos.

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