{"id":544991,"date":"2023-07-29T16:00:20","date_gmt":"2023-07-29T16:00:20","guid":{"rendered":"https:\/\/uniquehot.com\/?p=544991"},"modified":"2024-06-11T07:35:44","modified_gmt":"2024-06-11T07:35:44","slug":"shiba-inu-reclaims-14th-spot","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/shiba-inu-coin\/shiba-inu-reclaims-14th-spot\/","title":{"rendered":"Shiba Inu Reclaims 14th Spot In Market After 5% Jump"},"content":{"rendered":"

After a rough few months of slipping down the ranks, Shiba Inu is back in the top 15 cryptocurrencies by market cap. In the last 24 hours, the price of Shiba Inu has spiked in excess of 5%, allowing it to overtake cryptocurrencies like Wrapped Bitcoin and Bitcoin Cash to reach the 14th spot with a market cap of $4.8 billion.<\/span><\/p>\n

Shiba Inu Jumps 5% In 24 Hours, Reclaiming 14th Spot<\/h2>\n

The price of the majority of cryptocurrencies seems to be plateauing in the past week, with some even losing some of their market cap. However, meme coins like Shiba Inu and Dogecoin seem to be doing slightly well, with DOGE leading the pack with a 7.02% gain in the past seven days.\u00a0<\/span><\/p>\n

Related Reading: VC Firm Sequoia Capital Slashes Crypto Fund By 65% Amid Bear Market<\/a><\/div>\n

In the case of Shiba Inu (SHIB), the altcoin has found a bit of momentum, amassing an increase of 293.16% in trading volume in the past 24 hours.\u00a0<\/span><\/p>\n

As usual with volatile meme coins, it\u2019s hard to pin down an exact catalyst of the spike. However, the price jump seems to have come after Shiba Inu’s developers announced the release of a testnet bridge between Shibarium and Ethereum.<\/span><\/p>\n

Shibarium to Ethereum Testnet Bridge Pushes SHIB’s Price by 5%<\/h2>\n

Shiba Inu has come a long way since its creation as a meme coin made just to challenge the popular Dogecoin (DOGE). However, the Shiba Inu ecosystem now has a lot of following, investors, developers, and an active community.\u00a0<\/span><\/p>\n

Shiba Inu developers are now working on a Layer-2 upgrade with the aim of developing the ecosystem and becoming a serious blockchain contender. The network, which will operate on top of Ethereum, is called Shibarium<\/a> and was announced earlier in March. When Shibarium is launched, it is expected to help minimize costs and increase transaction speeds.<\/span><\/p>\n

\n

\ud83d\udd25 Shibarium Beta Bridge has gone live for public testing! \ud83c\udf89<\/p>\n

Be among the first to try out this revolutionary cross-chain solution.<\/p>\n

Remember, always exercise caution and verify authenticity before connecting your wallet to any website.<\/p>\n

PLEASE DO NOT USE YOUR REAL ASSETS!\u2026 pic.twitter.com\/7yfhX8gQc6<\/a><\/p>\n

\u2014 \ud835\udc0b\ud835\udc14\ud835\udc02\ud835\udc08\ud835\udc04 (@LucieSHIB) July 26, 2023<\/a><\/p><\/blockquote>\n

On July 28, SHIB devs began testing a bridge that allows tokens to be easily transferred between the Shibarium and Ethereum. The testnet release is an important step toward making Shibarium a reality. This cross-chain solution seems to have sparked the interest of SHIB investors, as the price of the token spiked in the hours after.\u00a0<\/span><\/p>\n

Related Reading: Ripple Attorney Withdraws From SEC Lawsuit, Will It Affect XRP?<\/a><\/div>\n

How High Can The Price Go?<\/h3>\n

Shiba Inu is the second-largest meme coin in terms of market cap<\/a>. Although the price is now nearly 80% from its all-time high in October 2021, current upgrades show momentum seems to be turning positive. <\/span><\/p>\n

The coming months and the progress of the Shibarium Layer-2 will be crucial in determining whether Shiba Inu can build on this momentum to retest previous highs or whether it continues to plateau.\u00a0<\/span><\/p>\n

At the time of writing, SHIB is trading at $0.000008191.<\/span><\/p>\n

\"Shiba<\/p>\n

SHIB price recovers above $0.000008 | Source: SHIBUSD on Tradingview.com<\/a><\/pre>\n
Featured image from iStock, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"

After a rough few months of slipping down the ranks, Shiba Inu is back in the top 15 cryptocurrencies by market cap. In the last 24 hours, the price of Shiba Inu has spiked in excess of 5%, allowing it to overtake cryptocurrencies like Wrapped Bitcoin and Bitcoin Cash to reach the 14th spot with a market cap of $4.8 billion. Shiba Inu Jumps 5% In 24 Hours, Reclaiming 14th Spot The price of the majority of cryptocurrencies seems to be plateauing in the past week, with some even losing some of their market cap. However, meme coins like Shiba Inu and Dogecoin seem to be doing slightly well, with DOGE leading the pack with a 7.02% gain in the past seven days.\u00a0 Related Reading: VC Firm Sequoia Capital Slashes Crypto Fund By 65% Amid Bear Market In the case of Shiba Inu (SHIB), the altcoin has found a bit of momentum, amassing an increase of 293.16% in trading volume in the past 24 hours.\u00a0 As usual with volatile meme coins, it\u2019s hard to pin down an exact catalyst of the spike. However, the price jump seems to have come after Shiba Inu’s developers announced the release of a testnet bridge between Shibarium and Ethereum. Shibarium to Ethereum Testnet Bridge Pushes SHIB’s Price by 5% Shiba Inu has come a long way since its creation as a meme coin made just to challenge the popular Dogecoin (DOGE). However, the Shiba Inu ecosystem now has a lot of following, investors, developers, and an active community.\u00a0 Shiba Inu developers are now working on a Layer-2 upgrade with the aim of developing the ecosystem and becoming a serious blockchain contender. The network, which will operate on top of Ethereum, is called Shibarium and was announced earlier in March. When Shibarium is launched, it is expected to help minimize costs and increase transaction speeds. \ud83d\udd25 Shibarium Beta Bridge has gone live for public testing! \ud83c\udf89 Be among the first to try out this revolutionary cross-chain solution. Remember, always exercise caution and verify authenticity before connecting your wallet to any website. PLEASE DO NOT USE YOUR REAL ASSETS!\u2026 pic.twitter.com\/7yfhX8gQc6 \u2014 \ud835\udc0b\ud835\udc14\ud835\udc02\ud835\udc08\ud835\udc04 (@LucieSHIB) July 26, 2023 On July 28, SHIB devs began testing a bridge that allows tokens to be easily transferred between the Shibarium and Ethereum. The testnet release is an important step toward making Shibarium a reality. This cross-chain solution seems to have sparked the interest of SHIB investors, as the price of the token spiked in the hours after.\u00a0 Related Reading: Ripple Attorney Withdraws From SEC Lawsuit, Will It Affect XRP? How High Can The Price Go? Shiba Inu is the second-largest meme coin in terms of market cap. Although the price is now nearly 80% from its all-time high in October 2021, current upgrades show momentum seems to be turning positive. The coming months and the progress of the Shibarium Layer-2 will be crucial in determining whether Shiba Inu can build on this momentum to retest previous highs or whether it continues to plateau.\u00a0 At the time of writing, SHIB is trading at $0.000008191. SHIB price recovers above $0.000008 | Source: SHIBUSD on Tradingview.com Featured image from iStock, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":544993,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[92559],"tags":[83668,88734,84473,83667,87680,84562,84558],"class_list":["post-544991","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-shiba-inu-coin","tag-shib","tag-shib-market-cap","tag-shib-price","tag-shiba-inu","tag-shibarium","tag-shibusd","tag-shibusdt"],"acf":[],"yoast_head":"\nShiba Inu Reclaims 14th Spot In Market After 5% Jump<\/title>\n<meta name=\"description\" content=\"After a rough few months of slipping down the ranks, Shiba Inu is back in the top 15 cryptocurrencies by market cap. 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During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. 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