After a 330 percent weekly gain, Shiba is now in the top 12 by market capitalization, half the size of Dogecoin.

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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