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Shiba Inu is now the twenty-first most valuable digital asset.
So far in October, Shiba Inu has risen to the 20th most valuable digital asset by market capitalization. The market value of the Shiba Inu soared to $11.08 billion earlier this week and has now surpassed $10 billion, putting it in the top 20 for the first time. As a consequence, the parody cryptocurrency inspired by Dogecoin has overtaken major blockchain projects such as Stellar (XLM), Polygon (MATIC), and Tron (TRX) (TRX).
The SHIB price surged by nearly 400 percent in a week after starting the fourth quarter of 2021 at $0.00000725. As a result, the token retested its five-month high of $0.00003528 on October 7. Nonetheless, SHIB saw a 40%+ market drop on the same day as some traders chose to unwind their spot bets for temporary profits. Shiba Inu’s market value fell in lockstep as a consequence, reaching $8.06 billion on Friday.
Investors took advantage of the sell-off in Shiba Inu markets (against the dollar and Bitcoin) to purchase on the dip. As a result of the rebound rise, the SHIB price surged by more than 45 percent. At its high on Saturday, the cryptocurrency was trading at $0.00003020, with a market worth of $10.73 billion.
