Shiba Inu spike ranked 13th with 112%

author: Nidhi Kolhapur

Nidhi is a certified digital marketing executive and passionate cryptocurrency journalist covering the world of alternative currencies. She shares the latest trending news about cryptocurrency and blockchain.

March 2, 2024 18:38

Shiba Inu surged 112% this week, surpassing Polkadot (DOT) and Polygon (MATIC) (which have held the rank intermittently) as the 13th largest cryptocurrency by market capitalization in the global cryptocurrency rankings. It ranks first on the monthly chart with a 124% increase rate. As a result, Shiba Inu’s market capitalization reached a staggering $11.91 billion. Analysts had previously predicted that the record could repeat an 800% surge within a week.

This move contributed to the ongoing burns that resulted in the destruction of 410.708 trillion tokens since inception. In addition to burns, Shiba Inus have also recently seen widespread adoption.