The Shiba Inu price fell 2.03% overnight and is now at the current price of $0.000012. Nevertheless, the most popular meme coin is now ranked as the 15e largest crypto by market capitalization.
SHIB currently has a live market cap of $6,573,280,152 and a 24-hour trading volume of $428,085,679. The coin currently has a total circulating supply of 549,063,278,876,302 SHIB coins.
Despite all the crypto space in the red over the past two months, SHIB has performed well and actually increased its price by 31%. That being said, many crypto investors have started taking SHIB seriously.
Facing the crypto crash and with major cryptocurrencies like Bitcoin, Ethereum and others bleeding, Shiba Inu was still able to resurrect many crypto wallets.
Can Shiba Inu outperform TRX and BTC?
Shiba Inu has actually outperformed Bitcoin and is gaining ground despite the turbulent crypto crash that is occurring. The meme coin has made progress in maintaining the uptrend. He has always embraced this positive momentum with lots of collaboration and ongoing projects that will ultimately take SHIB to the next level.
SHIB investors loved the experience of having a 34% increase with a break point set at 0000116 USD, as seen in the Shiba Inu price in June of this year. The token definitely drives it with a bullish streak signaling that the market is approaching a bull run.
Many SHIB investors are eagerly and optimistically waiting for the meme coin to break above the $0.0000139 zone very soon.
With the Shiba Inu issue hitting $1, Ethereum whales have definitely set their eyes on the top coin to gain up to 11% and 24% respectively this month.
The general market trend looks bullish for SHIB and the trajectory is upward. With this in mind, many ETH whales have accumulated and added a total of $560 million in SHIB tokens to their wallets; which represent approximately 22% of all their digital assets.
SHIB total market cap at $6.57 billion on the daily chart | Source: TradingView.com
SHIB will launch the SHIB.io metaverse
SHIB investors are also excited about Shiba Inu development projects in collaboration with The Third Floor, such as Shibarium, which is a SHIB.io metaverse with the SHIBASWAP V2 token and SHI which aims to design virtual environments or a metaverse. .
Shiba Inu recently launched this hot portal designed to reward investors. With the increased pressure on the demand and supply of SHIB, the price of the meme coin has also skyrocketed.
SHIB now overtakes Tron (TRX) in terms of total market capitalization. Tron has a market cap of $6.33 billion while SHIB has a total market cap of $6.66 billion.
The total SHIB supply is currently 589,625,603,102,909 and the total that has been exhausted from the initial supply is 410.37 trillion.
Featured image from BeChewy, chart from TradingView.com