As the entire crypto market continues to bounce back after a rough couple of months, no one has come back stronger than Shiba Inu which is currently up over 50% for the day and over 60% over the past week.
While all of the attention has been on Bitcoin with its +14% week, Shiba Inu has quietly jumped from the 16th largest coin in terms of overall market cap to 13th.
In doing so Shiba Inu leapfrogged massive projects Polygon (MATIC) and Binance USD stable coin.
Shiba Inu now has a market cap of $18.5 billion
Back from the Dead?
Just 3 days ago SHIB was at $0.000020 and is now hovering at $0.000033, however this is still a long way away from it’s all-time high of $0.000088 which it hit back in November as Bitcoin was at $69k.
The Doge Killer
SHIB may just be able to make it’s own prophecy come true as the self-proclaimed “Doge Killer” now only trails Dogecoin by a measly $3 billion in total market cap.
Ever since early last year when Dogecoin reached it’s all-time high leading up to the SNL skit with Elon Musk, they have not been able to regain any of their momentum.
While Dogecoin has been consistently dropping in price as well as losing large amounts of community support and hype, Shiba Inu coin has been doing the exact opposite.
As the development team over at SHIB continues to innovate, Doge has been dead in the water.
Shiba developments in the past year:
- LEASH COIN: LEASH is the second token incentivized on ShibaSwap and will offer lucrative rewards for the holders providing its liquidity.
- BONE: BONE will allow the #ShibArmy to vote on upcoming proposals, such as their Doggy DAO.
- Shiba NFTs: Each NFT name change contributes to the SHIB burning process.
But perhaps their biggest advancement was the Shiba Swap which makes integration throughout all SHIB developments seamless.
“SHIB, LEASH, and BONE, come together to create ShibaSwap, the next evolution in DeFi platforms. ShibaSwap gives users the ability to DIG (provide liquidity), BURY (stake), and SWAP tokens to gain WOOF Returns through our sophisticated and innovative passive income reward system.
Our platform also allows the ShibArmy to access upcoming NFTs and additional tools, such as portfolio trackers, to make navigating the crypto world simple and intuitive.”– Shibatoken.com
Although many still consider Shiba Inu coin akin to a project with “no real value” or similar to a lottery ticket, the development team as well as the loyal SHIB ARMY continue to show that this project is much, much more.
Shiba Inu is here to stay.