Shiba Inu continues to move from strength to strength on the market capitalisation ranking. According to CoinMarketCap, the memecoin’s value rose over 43% in the past week, and as a result, SHIB overtook Tron (TRX) on the world’s most-referenced price-tracking website.
In the past week, the SHIB token experienced a surge of over 43% in value as its market cap went over $6 billion, putting it a few million ahead of Tron (TRX). In addition, almost half a million separate SHIB from stable coins Dai (DAI) in 12th place as it slowly eyes the 10th spot currently occupied by its rival, Dogecoin (DOGE), with a gap of $4 billion.
Related: Top Ethereum Whale Buys 163 Billion Shiba Inu, Spends $1.5 Million.
Top Ethereum Whale Responsible for Shiba Inu’s Swift Growth
The Dogecoin killer rose rapidly in value as a top-ranking ethereum whale “BlueWhale0073” purchased 163,286,048,050 (163.28 Billion) SHIB tokens, worth $1,575,710 ($1.57 Million) on 22nd June, in a significant transaction.
WhaleStats reported that the second biggest memecoin is the top traded token among the 500 most giant ETH whales as they sold for $638,735,216 ($638.73M) worth of Shiba Inu tokens in the past 24 hours.
Shiba Inu aims to reach the top 10 cryptocurrencies. The last time SHIB overtook its rival Dogecoin and cracked the top 10 cryptocurrencies was on October 28, 2021, when it reached an all-time high (ATH) price of $0.00008845. Over time, the value of Shiba Inu depreciated by over 87% from its all-time high.
The Dogecoin killer is trading at the price of $0.00001153, down -2.83% over the last day, with a 24-hour trading volume of $632,010,392. ($632.01M).
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