Shiba Inu Overthrows MATIC to Become the 12th Largest Cryptocurrency in the World by Market Value.

0
286
Cryptocom

Shiba Inu has shown strength as it overtook Polygon (MATIC) to become the 12th most valuable cryptocurrency in the world. According to Coingecko, the second largest memecoin’s value rose over 29% in the past seven days. This development led SHIB to flip MATIC on the price-tracking website.

5vFCrlh392SVdj8DEJLEi99ofkePILXujRPSkqG8mdE hlJ9NtV4ZnkqeoWdOHfoAKjo8nSLUNE4noVpYiQr bBOcOXzn8
Coingecko

In the past week, the SHIB token experienced a surge of over 29% in value as its market cap went over $7.6 billion, putting it a few million ahead of Polygon (MATIC), which has a market cap of over $7.3 billion.

In addition, more than a billion separate SHIB from Polkadot (DOT) in 11th place as it slowly eyes the 10th spot currently occupied by its rival, Dogecoin (DOGE), with a gap of $2 billion.

Related: Unknown Wallet Burns 519 Million Shiba Inu In Single Transaction, 1.12 Billion Disposed of Since Birth

Latest Development for Shiba Inu

Shibburn.com reported that members of the Shib Army sent 573,944,829 (573.94M) tokens to dead wallets through 31 separate transactions two days ago. However, an unknown user was responsible for burning 519.45 Million in one significant transaction.

So far, the 12th-ranked token is trading at $0.000012 with a 24-hour trading volume of $1,097,380,570, while gaining 6.7% and 29.3% in the past 24 hours and seven days, respectively.

Read more: Shiba Inu (SHIB) Now Top Held Altcoin By Top 100 ETH Whales After Gaining 11% in 24 Hours.