Shiba Inu's Meme Coin Journey: A Rollercoaster Ride with 177% Monthly Growth! Despite a recent dip,
Shiba Inu continues to make waves in the meme coin world, boasting an impressive
177% growth over the past month. With a market cap of
$15.95 billion, SHIB stands tall as the second-largest meme coin, trailing only behind its canine cousin, Dogecoin.
The meme coin market as a whole has been on fire, reaching a whopping
$55.6 billion in value. However, SHIB's share is still relatively small at just
0.592% of the total cryptocurrency market.
While it's true that SHIB took a hit this week, losing
21% of its value, it's important to note that it had enjoyed a strong surge in the preceding weeks. Currently sitting at the 12th spot in terms of market cap, SHIB is sandwiched between AVAX and DOT.
The burning of SHIB tokens has been an ongoing trend since Vitalik Buterin's historic move last year. To date, over
410 trillion SHIB have been incinerated, with the community adding fuel to the fire by torching another
481.85 billion SHIB.
While other meme coins like PEPE are making strides, they still have a long way to go before catching up to SHIB and DOGE. With a market cap of $15.95 billion, SHIB leaves competitors in the dust, surpassing the combined valuations of PEPE, WIF, FLOKI, and BONK.
In this wild world of meme coins, Shiba Inu remains a force to be reckoned with, showcasing both volatility and resilience on its journey to the moon!
