Shiba Inu breaks its all-time high again, its market cap surpasses that of McCormick and Kellogg’s companies. Will it rise more? – DiarioBitcoin

Shiba Inu breaks its all-time high again, its market cap surpasses that of McCormick and Kellogg's companies. Will it rise more?  - DiarioBitcoin

Shiba Inu breaks its all-time high again, its market cap surpasses that of McCormick and Kellogg's companies. Will it rise more? - DiarioBitcoin By Daily EditorBitcoin

Shiba Inu has a market cap of more than USD $ 21.7 billion and a price 26% higher than yesterday. A few hours ago it broke a price record.

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Shiba Inu (SCHIB) it certainly has its fans. Every time we write about it, many read and comment on us. For many, the great goal of Shiba is to outnumber its main rival, the puppy’s first meme coin: Dogecoin. Although it is still missing, it seems on its way to seek to reach its levels of marketcap.

According to data from CryptoMarkets, SHIB It once again reached a historical maximum price of USD $ 0.000059 this morning. Specifically, it happened at 4:10 a.m. New York time.

SHIB
Picture of Crypto markets

Now, when it is 7:30 am, its price is USD $ 0.000057, 26% more than yesterday at the same time, but a little less than a while ago. The interesting thing is that its marketcap now exceeds USD $ 21.7 billion and is ranked 12 in the capitalization market… And guess who is ahead … nothing more and nothing less than his “enemy”, Dogecoin, although it still has a much larger marketcap: USD $ 31.2 billion. There is still a good run for Shiba to overcome it!

What it has surpassed is the capitalization of large American companies. As can be seen on the platform AssetDash, that compares the assets, Shiba He is in 585th place and has climbed no more and no less than 132 steps in the last week. At the moment, its marketcap exceeds that of large American food companies such as McCormick and Kellogg’s.

It also surpassed the cryptocurrency marketcap as MOON, Uniswap and Chainlink.

It is worth noting that those who bought Shiba A month ago they have had their hands full: the coin has a return on investment of 706% in relation to the last 30 days and 104% in relation to a week ago. 99% of investors are making money from it at this hour.

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In addition to the news of its increase, yesterday we reported that Shiba Inu began to be accepted in a restaurant in Paris, which drove his fans crazy.

Will it go higher?

Many are those who expect that Doge will reach USD $ 0.001, even some, more optimistic, believe that it will reach the penny of the dollar. However an analysis of Zycrypto it does not encourage such expectations.

As analyzed by said medium, even with all its increases, Shiba it is still two decimal places from reaching USD $ 0.001 and four from entering the price territory of Dogecoin (USD $ 0.24). However, it indicates that experts are skeptical if Shiba Inu will ever reach $ 0.01, not even $ 0.001 given its large number of available tokens.

Add: “SHIB currently has a circulating supply of 394,769,000,000,000 of SHIB, out of the total supply of 1 billion (1 billion) of SHIB.. To put this in perspective, for the token to reach $ 0.01 in just half of the total supply, this would make it half a quadrillion ($ 500 trillion), which is more valuable than the total net wealth of the entire world. , which is USD $ 431 billion ”.

According to Alex Braczkowski, despite the hype surrounding SHIB, imagining the token at $ 0.01 or even $ 0.001 is gullible.

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“The dream of 0.01 or 0.001 shib is mathematically impossible. You can’t have that many tokens for that price. It would mean the market capitalization of the entire crypto market multiple times ”, He says

Sources: Crypto markets, Forkast, UToday, Zycrypto

MRT Report / DailyBitcoin

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