Shiba Inu Spikes 112% to bag the 13th Place

Author: Nidhi Kolhapur

Nidhi is a Certified Digital Marketing Executive and Passionate crypto Journalist covering the world of alternative currencies. She shares the latest and trending news on Cryptocurrency and Blockchain.

Mar 2, 2024 18:38

Shiba Inu remarkably surged 112% this week to overplace Polkadot (DOT) and Polygon (MATIC),( which held the position occasionally) as the 13th largest cryptocurrency by market cap in the global crypto ranking. It has been topping the monthly charts as well with 124% spike. As a result, Shiba Inu’s market cap reached to a massive $11.91 billion. Prior to this, analysts had predicted the history could repeat surging 800% in a week.

The move contributed to the ongoing burn that has seen 410.708 trillion tokens destroyed since its inception. Aside from burns, Shiba Inu has also recently experienced widespread adoption.