The cryptocurrency business is a sector with many projects that move quickly. Many blockchain projects can view their ranking on a worldwide scale.
One such instance is the well-known Dogecoin killer Shiba Inu, which surpassed the stablecoin BUSD owned by Binance.
With only a million more in market value, the SHIB cryptocurrency is currently placed 13th, one higher than BUSD.
Could this be SHIB’s anticipated rise to the $1 price peg? Only time could tell.
13th place for DOGE Killer
The Shiba Inu coin price is $0.00001156 at the time of publication, up nearly 3% over the previous day.
The upswing in the meme currency shows a continuous price increase, which places the 24-hour trading volume above $322 million.
The seven-day price performance of SHIB has increased by 4.93%, while the 30-day monthly growth has recently increased by 6.36%.
With a CoinMarketCap of $6.7 billion, the current CoinMarketCap ranking is number 13, surpassing the Binance Dollar, which is nearly approaching the $6.6 billion mark.
The technical indications for the digital asset suggest that it may be amid an encouraging rising surge.
The asset’s current price is above its 50-day moving average (MA) value of $0.00001102, and this bullish trend is further supported by the 200-day MA indicator price of $0.00001064.
The FTX debacle, which resulted in a significant decline for all cryptocurrencies, caused the coin to experience its last large dump.
Additional technological signs suggest that now could be a perfect time to enter the Shiba Inu ecosystem.
As indicated by its relative strength index (RSI) indicator value of 52.61, the Dogecoin killer is currently underbought. Investors can purchase SHIB and gain market appreciation.
Similar to how the blue trendline is being pushed upward by the moving average convergence divergence (MACD) after taking a plunge a few days ago. But, considering that the purchase signal is still being partially implemented, this might easily change to the sale zone.
After the Shibarium metaverse releases earlier this week, many whale activities in the SHIB community have positively impacted the token price.
Whales Buy Millions Worth Of SHIB Following Shibarium Announcement
Shiba Inu ($SHIB), a meme-based digital token, has attracted a major crypto investor who has grown their holdings to around 5 trillion tokens.
They were able to do this by investing an additional $1.88 million into four special deals to purchase an additional 171.68 billion SHIB.
According to theories, this might have easily affected the coin’s rise in market capitalization.
It should be noted that the sizable purchase took place a few hours before the Shibarium announcement.
This action has generated controversy within the SHIB community and the cryptocurrency market, indicating insider knowledge.
On the metaverse, Shibarium is a Shiba Inu concept that aims to provide non-fungible tokens (NFTs), gaming, and virtual properties.
Ryan Renolds, a well-known figure in the Shiba Inu community, forecasts another rise in $SHIB prices soon.
Investors In Alternative Crypto Assets Are Buying Up
The first-ever vote-to-earn meme coin, Love Hate Inu ($LHINU), is the new token that has everyone talking.
Due to their humorous and lighthearted meme-inspired nature, meme coins are characterized by increased buzz and enthusiasm across social media and the internet. The Love-Hate Inu is no exception; it is even more so.
The Love-Hate Inu is a vote-to-earn meme coin that enables users to gain incentives and tokens by merely casting their votes on various topics, such as public figures, societal issues, and politics in general.
To vote, users must stake $LHINU coins; this unique feature combats spamming and bots on the suggested voting platform.
Users can anonymously express their opinions on societal issues without fear of repercussions or government interference because of the project’s decentralized framework built on the Ethereum blockchain.
Users can also participate in sponsored surveys in exchange for NFTs and metaverse resources.
Regarding perceived real-world utility, the LHINU token far outpaces Shiba Inus and other meme coins like DOGE as it continues to grow in popularity.
Pre-sale activity for the ERC-20 coin has generated over $4.3 million in a short amount of time.
Before it increases in value during the subsequent round, early investors can easily purchase the meme token for the current $0.000115.