Shiba Inu (SHIB) Price Surges By 25%, Surpassing Dogecoin (DOGE).

Shiba Inu (SHIB) Price Surges By 25%, Surpassing Dogecoin (DOGE).

2022-02-07 | Selina Mathew

Shiba Inu (SHIB) Price Surges By 25%, Surpassing Dogecoin (DOGE).

As per statistics from cryptocurrency rating site CoinMarketCap, the price of the Shiba Inu coin has increased by approximately 25% in the last 24 hours. On the Bitstamp exchange, it is presently trading at $0.00002793. In contrast, competitor meme Dogecoin has risen a meager 6%.

Shiba Inu (SHIB) Price Surges By 25%, Surpassing Dogecoin (DOGE).

Shiba Inu Price Chart - Source: CoinMarketCap

The canine currency's trading volume has also increased by 244 percent, surpassing $2.7 billion. It is now the sixth highest traded coin (under just Tether, Bitcoin, Ethereum, Bitcoin Cash, and Binance USD). Shiba Inu is ranked third on Coinbase, the largest cryptocurrency exchange in the United States.

Shiba Inu has risen to 14th place in terms of market capitalization, above Polygon, as a result of the latest price hike (MATIC). Whereas the meme coin's latest price increase has been amazing, it is still down 67.47 percent from its all-time high. Nonetheless, the Dogecoin rival has increased by 72 percent from its multi-month low of $0.00001704.

Bitcoin, the most valuable cryptocurrency, reached a high of $43,000 previously today, up 30.5 percent from its previous low of $32,950. It is off 37.95 percent from its all-time high.

The latest price increase in the cryptocurrency monarch has driven the remainder of the cryptocurrency industry higher. Ethereum, Binance Coin, Cardano, Solana, as well as other prominent cryptocurrencies are up. The Ripple-affiliated XRP is up almost 10% in the last 24 hours.

Following topping $3 trillion in November, the total market value of the cryptocurrency industry is presently approaching $2 trillion.

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