Shiba Inu Drops 2% But It’s Bound To Outpace BTC And TRX

Shiba Inu Drops 2%,shib, price, token, meme, market

Shiba Inu drops 2% but it is still bound to outpace TRX and Bitcoin and it is trading at a level of $0.000012 but the meme coin is still the 15th biggest crypto according to its market cap so let’s read more today in our latest altcoin news.

SHIB now has a live market cap of $6,573,280,152 and with $428,085,679 of a 24-hour trading volume and the coin now has a total supply of 549,063,278,876,302 SHIB coins. Despite the entire crypto space being in the red for the past month, SHIB has been performing well and raised the prices by 31% so with that being said, most crypto investors started to take the coin very seriously.

shib price crypto
SHIB 24-hour Price Chart (Source: Coingecko)

In the face of the crypto crash and other cryptocurrencies like BTC and ETH in the red, Shiba was able to perform well on most charts. Shiba Inu outperformed Bitcoin and gained traction despite the turbulent crypto crash and the meme coin took strides in maintaining the uptrend pattern. It was also going for the positive momentum with most collaboration and projects happening that will take SHIB to the next level.

Shiba Inu drops 2% but the investors loved the experience leading to a 34% boost and a breakout point pinned at the $0.00116 that was seen in June earlier this year. The token is winging it with the bullish streak signaling that the market is getting closer to a bullish run. Most SHIB investors are looking quite optimistic for the meme coin to be over the preivous level. With the issue concerning SHIB hitting $1 and the ETH whales also started setting their eyes on the meme coin to gain up to 11% this month.

The overall market trend is looking bullish for the meme coin but the trajectory is also uphill so with that in mind, most whales were hoarding and added $560 million SHIB tokens in the portfolios which consists of around 22% of the entire digital assets. SHIB investors are excited with Shiba’s development projects in collaboration with the Third Floor like Shibarium which is a metaverse alogn with the SHI token that aims to design a virtual environment or a metaverse.

shiba market cap crypto
SHIB Market Cap, Source: Coingecko

Shiba Inu launched the burning portal which is designed to reward investors and with the increased amount of pressure placed on the demand and the supply, the meme coin can surge in price. SHIB is outpacing TRON in terms of total market cap while the latter has a market cap of $6.33 million while SHIB has a market cap of $6.66 billion. The total supply is now set at 589,625,603,102,909 and the total has been burned out of the supply of 410.37 trillion.

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