Shiba Inu is now the seventh-largest cryptocurrency in the world, with a market cap of $51.4 billion.- This makes the meme coin more valuable than not only
Dogecoin , butXRP ,Polkadot , andUSD Coin . - The cryptocurrency has rallied by more than 77% in the last 24 hours.
More importantly, it’s now the most valuable meme coin in the world, knocking Dogecoin off its throne. Not only is $4 more valuable than its key competitor, Dogecoin, but it’s also more valuable than USD Coin, Polkadot and XRP. Another $5 billion jump and Shiba Inu will overtake even Solana.
At a price of $0.00008748, this is the nth time that the Shiba token has hit another all-time-high in the last two weeks.
The top 10 cryptocurrencies in the world on October 28
If $4, it would be nearly as valuable as the 11th biggest player in the market,
According to CoinDesk, Shiba Inu’s rally is being led by $4 — crypto traders who have earned more than $100,00 by providing and mining liquidity in decentralised finance (DeFi) protocols. These digital wallets have reportedly bought around $160 million worth of the token since the beginning of this week as per data from blockchain analysis firm Nansen.
Santiment, another crypto data firm, found that Shina Inu transactions worth at least $1 million have been increasing since the beginning of October.
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