{"id":544991,"date":"2023-07-29T16:00:20","date_gmt":"2023-07-29T16:00:20","guid":{"rendered":"https:\/\/wncen.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:\/\/wncen.com\/news\/shiba-inu-coin\/shiba-inu-reclaims-14th-spot\/","title":{"rendered":"Shiba Inu Reclaims 14th Spot In Market After 5% Jump"},"content":{"rendered":"<p><span style=\"font-weight: 400\">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<h2>Shiba Inu Jumps 5% In 24 Hours, Reclaiming 14th Spot<\/h2>\n<p><span style=\"font-weight: 400\">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<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/crypto\/sequoia-capital-slashes-crypto-fund\/?swcfpc=1\">VC Firm Sequoia Capital Slashes Crypto Fund By 65% Amid Bear Market<\/a><\/div>\n<p><span style=\"font-weight: 400\">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<p><span style=\"font-weight: 400\">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&#8217;s developers announced the release of a testnet bridge between Shibarium and Ethereum.<\/span><\/p>\n<h2>Shibarium to Ethereum Testnet Bridge Pushes SHIB&#8217;s Price by 5%<\/h2>\n<p><span style=\"font-weight: 400\">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<p><span style=\"font-weight: 400\">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 <a href=\"https:\/\/wncen.com\/shiba-inu\/shibarium-bridge-goes-live-in-beta-but-theres-a-catch\/?swcfpc=1\">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<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">\ud83d\udd25 Shibarium Beta Bridge has gone live for public testing! \ud83c\udf89<\/p>\n<p>Be among the first to try out this revolutionary cross-chain solution.<\/p>\n<p>Remember, always exercise caution and verify authenticity before connecting your wallet to any website.<\/p>\n<p>PLEASE DO NOT USE YOUR REAL ASSETS!\u2026 <a href=\"https:\/\/t.co\/7yfhX8gQc6\" rel=\"nofollow\">pic.twitter.com\/7yfhX8gQc6<\/a><\/p>\n<p>\u2014 \ud835\udc0b\ud835\udc14\ud835\udc02\ud835\udc08\ud835\udc04 (@LucieSHIB) <a href=\"https:\/\/twitter.com\/LucieSHIB\/status\/04880131?ref_src=twsrc%5Etfw\" rel=\"nofollow\">July 26, 2023<\/a><\/p><\/blockquote>\n<p><span style=\"font-weight: 400\">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<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/analysis\/xrp\/ripple-attorney-withdraws-from-sec-lawsuit\/?swcfpc=1\">Ripple Attorney Withdraws From SEC Lawsuit, Will It Affect XRP?<\/a><\/div>\n<h3>How High Can The Price Go?<\/h3>\n<p><span style=\"font-weight: 400\">Shiba Inu is the <a href=\"https:\/\/wncen.com\/news\/shiba-inu-will-this-bullish-formation-lead-to-a-25-upsurge\/?swcfpc=1\">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<p><span style=\"font-weight: 400\">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<p><span style=\"font-weight: 400\">At the time of writing, SHIB is trading at $0.000008191.<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-medium\" src=\"https:\/\/www.tradingview.com\/x\/erjzVWBN\/\" alt=\"Shiba Inu (SHIB) price chart from Tradingview.com\" width=\"2884\" height=\"1746\"><\/p>\n<pre style=\"text-align: center\">SHIB price recovers above $0.000008 | Source: <a href=\"http:\/\/Tradingview.com\" rel=\"nofollow\">SHIBUSD on Tradingview.com<\/a><\/pre>\n<div class=\"disclaimer-shortcode\">Featured image from iStock, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"<p>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&#8217;s developers announced the release of a testnet bridge between Shibarium and Ethereum. Shibarium to Ethereum Testnet Bridge Pushes SHIB&#8217;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":"\n<title>Shiba 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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