Shiba Inu's meteoric ascent continues, with the meme coin currently ranking as the world's 12th most valuable cryptocurrency by market value.
After a huge triple-digit weekly rise, the market value of the self-proclaimed Dogecoin-killer – Shiba Inu – has climbed to half that of Doge. As a result, SHIB is currently among the top 15 coins.
The bitcoin market as a whole has been on a tear recently. For the first time since May, Bitcoin surpassed $55,000, Ethereum recovered $3,500, and so on.
One digital asset, however, has surpassed all others: Shiba Inu. Following a huge whale purchase of over six trillion coins, CryptoPotato announced on October 5th that the token had skyrocketed by 100 percent in only a few days.
SHIB continued to rise and, a day later, began knocking on the door of the top 20 most valuable coins by market capitalization.
The token had gained approximately 200 percent in a week at this time, but that wasn't the end of its growth. It began another huge leap up in the last 24 hours, culminating at $0.000035, the highest price line since mid-May.
Furthermore, according to CoinGecko, SHIB was only inches shy from setting a new all-time high record, which it now holds at $0.000038.
SHIB's market value has risen to well over $15 billion, despite a small retracement from the intraday high. By this measure, it is the 12th most valuable cryptocurrency.
Furthermore, SHIB's market value is half that of Dogecoin, the perhaps most well-known joke currency. With a market value of $32 billion, DOGE is ranked tenth in terms of market capitalization.
Shiba Inu has now surpassed United Airlines and America Airlines Group in terms of market share.
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