CryptoWallCity vs MEXC Exchange

SHIB surpasses AVAX to become the 12th largest cryptocurrency in the entire market

The crypto market’s top memecoins don’t seem to have rested for the weekend, with both Shiba Inu (SHIB) and Dogecoin (DOGE) posting significant gains on Sunday.

Shiba Inu surged more than 30% over the weekend, according to CoinMarketCap, rising from $0.00001516 to $0.00001774, with a 24-hour trading volume of $3.41 billion.

Since the founder left the organization, the SHIB community and team have maintained their position as a project beyond the framework of a temporary meme coin. Recently, the project has set up a coin burning portal to create scarcity for its assets, established a DAO to empower the community and launch its own metaverse project.

On the other hand, the project launched plans to release stablecoins, bonus tokens, and a collectible card game last month. Despite the harsh circumstances of the general market, Shiba Inu still attracted 20,000 new users in June.

With what has been achieved, SHIB has officially dethroned AVAX to become the 12th largest cryptocurrency by market capitalization in the entire cryptocurrency industry.

Meanwhile, Shiba’s direct counterpart Dogecoin has increased by nearly 8% from $0.0771 to $0.0838 over the same period.

The last time DOGE traded above $0.08 was at the beginning of June. Fans of the coin were excited to see DOGE cross the $0.10 mark. DOGE used to be very sought after in its heyday $0.34 on this day a year ago.

At the time of writing, SHIB is trading around the $0.00001671 mark. At current prices, Shiba appears to be splitting almost 8 times from the ATH peak in late October 2021.

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