By passing DAI, SHIB moves up to number 13 by market cap
Shiba Inu’s SHIB has surpassed stablecoin DAI in CoinMarketCap’s ranking of cryptocurrencies by market capitalization. SHIB came in 13th place with a capitalization of $7.21 billion, an increase of over 6.3% in value over the past week. As things stand, the Shiba Inu is $1.3 billion less than its main rival Dogecoin, which is ranked 11th.
As U.Today reported earlier, SHIB has all the chances to overtake DOGE in the near future. The strong news background, regular purchases of SHIB by Ethereum whales, as well as more positive price movement, give SHIB the prospect to overtake DOGE, which in its turn has not been notable for all that lately.
Possible support for SHIB’s march to conquer the DOGE seat could come from the launch of Shiberium, a Layer 2 protocol from the Shiba Inu team. The solution will significantly increase the trading and usage of SHIB and other ecosystem coins such as BONE or TREAT. As previously reported, Shiberium could launch as early as this quarter, with a time span of more than two weeks.
Shiba Inu (SHIB) price review
SHIB is still in the $0.000014-$0.0000117 price range, which was formed four months ago during the large-scale fall of the entire crypto market. Now the price of SHIB has rebounded to $0.000013, which is in the middle of the range and is not a good entry point into the position.
Both the last two times, at the end of August and the end of the first week of September, the Shiba Inu managed to stay near the lower boundary of that range and did not go below that resistance level.
If positivity prevails on the market, which is not even related to the movement of the main cryptocurrency, SHIB has all the chances to show growth ahead of DOGE.
