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Shiba Inu Down By 2.03% – Yet Bound To Outpace TRX And BTC?

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The price of a Shiba Inu dropped 2.03% overnight and is now $0.000012. However, the most popular meme coin is currently ranked 15th.th largest cryptocurrency by market capitalization.

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SHIB currently has a real market capitalization of $6,573,280,152 and a 24-hour trading volume of $428,085,679. There are currently 549,063,278,876,302 SHIB coins in circulation.

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Even though the entire crypto space has been in the red for the past couple of months, SHIB has performed well and has actually raised its price by 31%. With this, many crypto investors began to take SHIB seriously.

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In the face of the collapse of cryptocurrencies and major cryptocurrencies such as Bitcoin, Ethereum and others, Shiba Inu was still able to revive many crypto wallets.

Can Shiba Inu outperform TRX and BTC?

The Shiba Inu has actually outperformed Bitcoin and is gaining momentum despite the tumultuous collapse of the cryptocurrency. The meme coin has been successful in maintaining the uptrend. He has constantly striven for this positive momentum through great collaborations and projects that will eventually take SHIB to the next level.

SHIB investors enjoyed the experience of a 34% uptrend with a breakout point fixed at $0000116 as seen in the price of the Shiba Inu this past June. The token is definitely showing a bullish band, signaling that the market is approaching a bullish move.

Many SHIB investors are looking forward with optimism that the meme coin will break the $0.0000139 zone very soon.

With the issue of the Shiba Inu hitting $1, the Ethereum whales have definitely taken notice of the top meme coin to gain 11% and 24% respectively this month.

The overall market trend looks bullish for SHIB and the trajectory is up. With this in mind, many ETH whales are accumulating and adding SHIB tokens totaling $560 million to their portfolios; which make up about 22% of all their digital assets.

SHIB total market cap at $6.57 billion on the daily chart | Source: TradingView.com

SHIB Launches SHIB.io Metaverse

SHIB investors are also excited about Shiba Inu development projects in collaboration with The Third Floor, such as Shibarium, which is the SHIB.io metaverse along with the SHIBASWAP V2 token and SHI, designed to develop virtual environments or the metaverse.

Shiba Inu recently launched this burning portal designed to encourage investors. Due to the increasing pressure on SHIB supply and demand, the mem-coin has also risen sharply in price.

SHIB is now ahead of Tron (TRX) in terms of total market capitalization. Tron has a market capitalization of $6.33 billion, while SHIB has a total market capitalization of $6.66 billion.

SHIB’s total supply is currently 589,625,603,102,909 and the total that was burned from the original supply is 410.37 trillion.

Featured image from BeChewy, chart from TradingView.com



Credit : www.newsbtc.com

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