Shiba Inu Beats Dogecoin in Market Cap

The rapid rise of the course of the "Killer Dogecoin"" and the meme cryptocurrency Shiba Inu (SHIB) led to that, that its market cap has exceeded Dogecoin's market cap

Shiba Inu Beats Dogecoin in Market Cap

According to CoinGecko, SHIB entered the top 10 cryptocurrencies in terms of market capitalization with an indicator of about $39 billion. Dogecoin capitalization is around $32 billion.

Remarkably, that in the capitalization rating SHIB has bypassed not only Dogecoin, but also the popular stablecoin USDC (created by the CENTER consortium).

As with Dogecoin, the creation of SHIB itself was a joke. The asset supply is estimated at hundreds of trillions of tokens, hence the relatively low rate. Besides, following the example of Dogecoin, SHIB Gains Attention Through Social Media, for example TikTok (although the platform later banned ads about cryptocurrencies).

Also cryptocurrency SHIB increased its level of notoriety last spring, when the creator Ethereum Vitalik Buterin sold many tokens transferred to him by the creators of Shiba Inu, by giving the funds received to charity. In addition, he donated part of the SHIB tokens to a charity, dealing with COVID.

Listing on popular cryptocurrency exchange Coinbase gave a good boost to SHIB, what helped to increase trading volumes. Within a week, the SHIB rate increased by more than 180%. According to CoinGecko, about a quarter of all SHIB trading volume occurs on the Binance platform in the SHIB / USDT pair.

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