Shiva Inu is now one of the most talked about cryptocurrencies in space. The meme coin was able to crawl out of the growing ambiguity towards the front of the crypto market. With the top cryptocurrency Bitcoin as well as the broader market damaged, Shiva Inu had other plans. Creating its own growth pattern, asset prices hit a new all-time high on Wednesday.
Its break above 00 0.00004 and subsequent crashes led the market to believe that the rally would be short-lived. SHIB immediately returned to the 0.00003 range immediately after hitting its new all-time high. But contrary to expectations, it has resumed its rally and this time, its price has doubled again, above $ 0.00008. With SHIB’s total supply, the price has pushed the currency into the top ten crypto and surpassed its rival Dogecoin.
Related Reading | Ken Shiva Inu (SHIB) has rallied 266% following the biggest dump in history
Playing with big dogs
Shiva Inu’s entry into the top 10 cryptocurrencies in terms of market cap has put it in a position where it has to square for big projects. One problem with SHIB is its lack of usage. Pushing Dogecoin into the past which has been in the top 10 for some time means that the project needs to develop if it is to retain its prestigious position. The use of Doge has used its application as a payment option for case expansion. It remains to be seen what SHIB will use to cement its place in the top 10.
SHIB price wavers at $0.00007296 | Source: SHIBUSD on TradingView.com
The price of the meme coin, however, did not fall short of its use. In a hype-fueled market, the price of SHIB has maintained its upward trend for more than three weeks.
The initial pull towards Altcoin is a massive return. It has returned more than 1,000% profit in its recent rally and the pressure for 0.0001 continues.
Shiva Inu May just to stay here
The Shiva Inu community continues to push for enrollment in Robinhood. Public.com, a direct competitor to Robinhood, listed meme currencies last week in light of increased demand. However, there is still no word from Robinhood about the list of assets. As the market waits for the decision of the trading platform, an interesting development has taken place in the valuation of the two assets.
Related Reading | SHIB has jumped 50% on ATH amid Robinhood rumors.
The total value of the assets has exceeded 40 billion due to the assembly of the SHIB. This has helped coins like Dogecoin and DOT rise to the top of the crypto top 10. But Shiva Inu is not the only significant project Robinhood, on which the meme coin has not yet been listed, is worth only $ 30 billion. This means that SHIB’s valuation is higher than Robinhood’s.
Featured image from Coingape, chart from TradingView.com