Shiba

Verge

Shiba Inu

Daily

Rise

<figure>
 <figcaption>
 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
Dog-themed cryptocurrency <a href="https://u.today/shiba-inu-burn-rate-skyrockets-by-172-as-shib-price-rebounds" rel="noopener noreferrer nofollow">Shiba Inu (SHIB)</a> might be on the verge of regaining its position among the top 10 cryptocurrencies by market capitalization following an impressive 25% rise in value over the past week.&nbsp;
With its uptick in value, Shiba Inu is inching closer to the 10th spot currently held by Cardano (ADA), which has a market capitalization of $17.7 billion.
Shiba Inu currently ranks as the 11th largest cryptocurrency, with a <a href="https://coinmarketcap.com/currencies/shiba-inu/" rel="noopener noreferrer nofollow">market capitalization</a> of $16 billion. According to current data, Shiba Inu may need to increase its market capitalization by $1.7 billion to retake 10th rank.
At the time of writing, SHIB was up 3.30% in the last 24 hours to $0.00002724. SHIB was up 25.43% in seven days. <img alt="TradingView" data-entity-type="file" data-entity-uuid="cb88a10a-c4df-42cf-98ae-f42b1f791fcd" src="https://u.today/sites/default/files/inline-images/24042024%200000.png"><a href="https://www.tradingview.com/x/aBlDEXsS/" rel="noopener noreferrer nofollow">SHIB/USD Daily Chart, Courtesy: TradingView</a>
Shiba Inu has steadily risen from a low of $0.00002 on April 19 to a high of $0.000028. The coin's advance could have been aided by a broader upturn in the cryptocurrency market, which has seen cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) rebound to recently tested highs.&nbsp;
Shiba Inu revealed at the start of the week that it has raised a whopping $12 million from major VC partners to launch its Fully Homomorphic Encryption (FHE) blockchain developed in collaboration with Zama, which will be powered by the upcoming TREAT token.&nbsp;
FHE enables computations on encrypted data and has the potential to transform crypto's privacy and trust. It would be a major game-changer for how personal and financial information are handled.
The innovation signals the potential for future growth in the ecosystem and has been hailed as a major milestone by Shytoshi Kusama, Shiba Inu's pseudonymous project lead.&nbsp;
Shiba Inu <a href="https://u.today/shiba-inu-team-member-issues-critical-alert-to-shib-community-details" rel="noopener noreferrer nofollow">team member</a> Lucie outlines what is planned for Shibarium in 2024-2025 in a tweet: ShibaSwap (version 1.75, followed by 2.0), Shibahub, Treat, ShibaEternity P2E, Shiba Inu metaverse, K9finance, Liquid Staking and layer-3 testnet. Furthermore, fully functional DAOs will be available for all tokens in the Shiba ecosystem.

Shiba Inu on Verge of Regaining Top 10 After 25% Weekly Rise

U_Today

Other articles published on Apr 24, 2024

Crypto Prices Today April 24: Bitcoin At 67K, ETH Gains, Hedera & Bonk Skyrocket

Galxe Rolls Out GAL Staking with $5M Rewards Pool, Unlocking Exclusive Rewards through Galxe Earn

BitMEX Former CEO Arthur Hayes Forecasts Bitcoin’s Path to $1 Million

Rising Difficulty Tests Bitcoin Miners’ Resilience After Latest Halving

Rollbit and Owl Games Have a New, Strong, and Hungry Competitor: Scorpion Casino

UK regulator scrutinizes Big Tech's role in AI industry

Join our free newsletter for daily crypto updates!