Shiba Inu (SHIB) is leading the rest of the market once again, soaring more than 18%
The price of the Shiba Inu (SHIB) cryptocurrency has soared more than 18% in the past 24 hours, according to data provided by crypto ranking site CoinMarketCap. It is trading at $0.00002904 on the Binance exchange at press time.
The joke cryptocurrency remains in 15th place by market capitalization, with its valuation increasing to $15.8 billion. It is close to surpassing TerraUSD (UST). The gap between the two cryptocurrencies has now shrunk to less than $500 million following the most recent price rally.
As reported by U.Today, the same cryptocurrency, which grabbed headlines last year due to its monstrous gains, has recently become available on Canadian cryptocurrency brokerage app Netcoins.
Last week, multiple merchants also started accepting SHIB and Doge Killer (LEASH) in partnership with cryptocurrency payment gateway NOWPayments.
Despite the recent rally, reclaiming its previous all-time high would still be a daunting task for Shiba Inu given that it is still down a staggering 66.41% from its all-time high of $0.00008616.
Rival Dogecoin (DOGE) is also up 8% today, performing in line with the broader cryptocurrency market.
Bitcoin (BTC), the world’s largest cryptocurrency, surged above $48,000 earlier today, turning positive for the year after a months-long downtrend.
The price of Ethereum (ETH) is also about 7.5%, surging above the $3,400 level.
Terra (LUNA) and Avalanche (AVAX) are the top performers among the top 10 cryptocurrencies by market capitalization. The two “Ethereum killers” are slightly ahead of Solana in terms of daily performance. OG cryptocurrencies such as Waves (WAVE) and EOS (EOS) also posted double-digit gains, outpacing the top altcoins. The total value of the entire cryptocurrency market stands at $2.1 trillion.
