Shiba Inu Price Rockets To Yet Another Record High, Surpassing Dogecoin In Market Cap

By John Isige
Published October 28, 2021 Updated October 28, 2021
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Shiba Inu Price Rockets To Yet Another Record High, Surpassing Dogecoin In Market Cap

By John Isige
Published October 28, 2021 Updated October 28, 2021
  • Shiba Inu price nearing the moon as bulls quickly push toward $0.0001.
  • SHIB’s market cap grows to $42 billion, becoming the ninth-largest cryptocurrency.

Shiba Inu is like a 100 meter Olympian on steroids, sprinting to new all-time highs (ATH) every day. The meme-based coin has brushed its shoulders with $0.000088 for the first time in the history of its existent. It is believed that SHIB will soon lift above $0.0001, starting the price discovery phase afresh.

At the time of writing, Shiba Inu trades at $0.000087 while bulls reach another higher level. Its market capitalization has jumped to $42.3 billion, just below Polkadot’s $42.8 million. Dogecoin has slipped to the eleventh position with a market share of $31.3 billion. If SHIB keeps the rally intact, we expect it to challenge DOT’s and XRP’s positions in the top ten.

Shiba Inu’s Rally Not Stopping For Anyone

Shiba Inu is comfortably in the bulls’ hands who are focused on pushing the price past $0.0001. The Shiba Army is currently one of the unstoppable forces in the cryptocurrency market, undeterred even by the triggering tweets from Elon Musk.

Earlier in the week, Elon confessed that he did not own any Shiba Inu but held DOGE, Bitcoin, and Ethereum. The Shiba Inu rallied behind the token as if the news motivated to push to higher levels.

SHIB/USD Four-Hour Chart

SHIB/USD price chart
SHIB/USD price chart by Tradingview

At the moment, there is little to outline regarding the technical levels impacting Shiba Inu’s rally. The fear of missing out (FOMO) could be the main force behind the consistent upward action. A break above $0.00009 will further bolster Shiba Inu above $0.0001.

Shiba Inu Price Intraday Levels

Spot rate: $0.000086

Trend: Strongly Bullish

Volatility: Extremely High

Support: $0.00007

Resistance: $0.00009

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Disclaimer
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
About Author
John Isige
1164 Articles
John is a talented writer with over two years of experience actively contributing to the cryptocurrency industry by providing credible, interesting and easy to read the content. His main focus is on cryptocurrency price analysis and industry news coverage. Lets follow him on Twitter at @jjisige

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