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July 23, 2022

Shiba Inu (SHIB) Market Update

Shiba Inu has shown that the future of your idea and the foundation that ensures a growing business is more important than what you start as. By market cap, Shiba Inu has become one of the top 15 crypto assets. Amidst recent optimistic tendencies, the asset has risen in tandem with other cryptocurrencies.

Shiba Inu (SHIB) has surpassed Tron (TRX) to become the 15th biggest cryptocurrency by market capitalization, according to statistics from CoinMarketCap. Now, Shiba Inu is worth $6.48B, only a few million dollars more than TRX, which was valued at $6.19B at press time.

With enormous increases since its birth in August 2020 as an alternative to Dogecoin, the meme currency has grown steadily throughout the years. Dogecoin’s connection to the project has also helped it acquire traction in the crypto community, particularly on Twitter. Because of this, investors are more interested in the asset, and word of mouth about it has spread.

Cryptocurrency prices have plummeted recently, but Shiba Inu’s market worth looks to have shot through the roof in the last week, too. Shiba’s market value was $5.2 billion a month ago, in June, at the worst of the Crypto Winter. It has already surpassed TRX thanks to a further $1 billion in funding announced recently.

To explain SHIB’s recent climb in market value, it is necessary to look back at previous positive occurrences that have attracted investors. William David Volk, a mobile game developer in the United States, tweeted on July 20 that Shiba Inu will be getting something new. As seen by the comments area, the Shiba community was intrigued, with some questioning what the gaming veteran was on about.

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Shiba Inu also announced a cooperation with The Third Floor (TTF) on July 20th to see TTF construct a virtual environment for the Shiba Inu Metaverse project. Some of the TTF’s work may be found in the Marvel and Star Wars cinematic universes.

Additionally, JeriPay, a Singapore-based payments platform, announced the following day that it will begin accepting payments in Shiba Inu thanks to a partnership with payment processing service FCFPay.

Shiba is now trading at $0.00001179, down 4.5% in the last 24 hours. As a result of the asset’s 11.47 percent rise this week,