Shiba Inu Price Prediction as SHIB Overtakes Binance USD in Market Cap - Can SHIB Reach $1?

Apr 16, 2023

By Jimmy Aki | @jimmy-aki

The crypto market is an industry filled with many fast-moving projects. Many blockchain projects see their position on the global ranking. 

One such case is popular Dogecoin killer Shiba Inu which has recently overtook Binance-owned stablecoin BUSD. 

At press time, the SHIB token is ranked 13th, one place higher than BUSD, with only a million higher in market valuation.

Could this be the long-awaited ascent of SHIB to the $1 price peg? Time would tell. 

DOGE Killer Ranked 13th

At press time, the Shiba Inu coin price is trading at $0.00001156, indicating a price surge of about 3% in the last 24 hours.

The uptrend in the meme coin puts 24-hour hour trading volume at over $322 million, signaling a continued price climb.

SHIB's seven-day price performance has seen it rise by 4.93%, while its 30-day monthly growth has just upped a 6.36% increase.

The current CoinMarketCap ranking is #13, pulling ahead of the Binance USD to clinch the position with a CoinMarketCap of $6.7 billion while the Binance closely enters the $6.6 billion.

The digital asset's technical indicators continue to show the asset might just be on a promising uptrend rally. 

The asset’s current price overshadows its 50-day moving average (MA) value of  $0.00001102, with its 200-day MA indicator price of $0.00001064 reinforcing this bullish streak. 

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