- Shiba Inu (SHIB) surges up drastically this week.
- SHIB reached a peak of $0.000035 just a few hours before.
- SHIB will soon destroy Dogecoin and take its place.
A new member entering into the top ten crypto rankings is something which is not common. There ought to be competitions, one place up and back upon the top ten. However, entry of a completely new altcoin into the top ten is a rather rare event.
Accordingly, on October 7th, witnessed such a similar event. The Shiba Inu (SHIB) which is actually a meme based coin, on other terms an exact copy of the Dogecoin (DOGE) has surged up in the rankings to the 12th place, straight from the 20. All owing to its total market capitalization on October 7, 2021.
Stupendous Surges of SHIB
The SHIB has been quite promising, to be even more abrupt, actually it was a lot more than any could expect. Ever since May 2021, after witnessing its All-time-high, SHIB remained dormant for the next couple of months. And so, it completely started to sprung up out of nowhere totally unexpectedly since the beginning of October.
Accordingly, by the end of the week, SHIB touched $0.000035, an epic high after a long time. The surge was standard upward axis graphs since October 1, such that even those who invested just a few days back, would have made a fortune by now.
In addition to this, the overall market capitalization raised upto $14 billion on October 7. Also, this made the headlines as SHIB became the 12th upon the crypto rankings in terms of market cap.
Moreover, the past week alone SHIB has witnessed a surge of a whopping 300%. Also, the overall surge compared to last year amounts to a mammoth 8000%.
Killing of DOGE
Despite being launched with the sole tag line of ‘DOGEKILLER’ at the time of launch, it seems it’s soon going to be a reality.
In spite of all the surges, the major reason is from the drastic coin burns by SHIB. Also, at such a rate throughout the week, many crypto enthusiasts predict that SHIB will destroy DOGE and take its place soon!
The post has appeared first on thenewscrypto.com