Shiba Inu (SHIB), one of the most popular meme coins, soared to an all-time high for the first time since May 11. The meme coin reached new heights of $0.00004432 over the weekend. SHIB was up over 50% in just 24 hours, according to the pricing from CoinGecko. Related Reading | Shiba Inu Outranks Chainlink And Takes Place In Top 15 Crypto-Assets With a market cap of $21.4 billion, Shiba Inu is currently the 13th biggest cryptocurrency. It is getting closer to Dogecoin, which is now in 11th place with a market cap of $33.86 billion. Both coins, however, can be quite volatile. It is also now worth more than Africa’s richest man, Aliko Dangote, who, according to Forbes, is worth $13.6 billion. Shiba Inu Rallies Shiba Inu’s latest rally can be attributed to an ongoing bullish trend that started about two weeks ago. Since then, Shiba Inu maintained week-long support at approximately $0.000028 before resuming a bull run to its latest record. Related Reading | Why Shiba Inu (SHIB) Rallied 266% Following Biggest Dump In Its History “At this moment attention seems to have converged on SHIB and speculation is the primary driver of the price surge,” Ben Caselin, head of research and strategy at crypto exchange AAX, said on Sunday to Bloomberg. “Prior patterns and dynamics in crypto indicate that SHIB is likely to be challenged by other projects and shed much of its value further along in the market cycle,” he added. SHIB price ...
