Shiba Inu token outperforms Dogecoin in terms of capitalization

On October 28, the price of the Dogecoin’s killer updated its all-time high above $ 0.000086, and its market value increased to $ 42.3 billion

The capitalization of the Shiba Inu token has exceeded $ 42.3 billion, according to Coinmarketcap. Altcoin has bypassed the “meme” cryptocurrency Dogecoin, whose market value is $ 40.5 billion, by this indicator. Shiba Inu has risen in price by 25% per day, having renewed its all-time high above $ 0.000086. Monthly growth was over 1000%.

On October 28, the number of tweets that mention Shiba Inu exceeded 1 million in the last 24 hours, making the cryptocurrency the most popular on Twitter.

On October 27, Bloomberg TV presenter and podcast author Joe Weisental stated that it is incorrect to call Shiba Inu a clone of Dogecoin, since the altcoin has a full-fledged ecosystem with its own decentralized exchange, the ability to create non-fungible tokens (NFT) and smart contracts.

The Shiba Inu token is called the “Dogecoin killer” by its creators. The project’s website says that its main task is to surpass Elon Musk’s favorite cryptocurrency in terms of capitalization. The Shiba Inu developers claim to have been inspired by the example of the WallStreetBets Reddit community, whose members were able to “accelerate” the value of the shares of GameStop, AMC and a number of other companies.

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