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Shiba Inu (SHIB) <a href="https://coinmarketcap.com/currencies/shiba-inu/" rel="noopener noreferrer nofollow">flipped</a> the layer-1 project Cardano (ADA) after a 17% pump to become the 10th biggest crypto by market capitalization amid a new outbreak of <a href="https://insidebitcoins.com/news/can-pepe-outperform-shiba-inu-as-the-hottest-meme-coin-or-will-upcoming-presales-take-the-lead" rel="noopener noreferrer nofollow">meme coin</a> mania.
<img decoding="async" class="alignnone wp-image-526986" src="https://insidebitcoins.com/wp-content/uploads/2024/05/SHIB-300x158.jpg" alt="SHIB" width="604" height="318" srcset="https://insidebitcoins.com/wp-content/uploads/2024/05/SHIB-300x158.jpg 300w, https://insidebitcoins.com/wp-content/uploads/2024/05/SHIB-1024x538.jpg 1024w, https://insidebitcoins.com/wp-content/uploads/2024/05/SHIB-768x403.jpg 768w, https://insidebitcoins.com/wp-content/uploads/2024/05/SHIB.jpg 1200w" sizes="(max-width: 604px) 100vw, 604px">
SHIB overtakes ADA (Source: <a href="https://coinmarketcap.com/" rel="noopener noreferrer nofollow">CoinMarketCap</a>)
<h2 id="span-style-font-weight-400-shiba-inu-closes-on-toncoin-span">Shiba Inu Closes On Toncoin</h2>
SHIB’s pump was enough to push its weekly performance out of the red zone, firing its market cap to above $17.02 billion. That’s slightly over $500 million more than ADA.
<a href="https://insidebitcoins.com/news/is-shiba-inu-price-eyeing-a-new-all-time-high-shib-price-jumps-8-and-this-solana-meme-coin-surges-17-as-cex-listing-rumors-spread" rel="noopener noreferrer nofollow">SHIB</a> also narrowed the gap with 9th-ranked Toncoin (TON), which has a market cap of more than $22.7 billion. TON recorded a 3% gain in the last 24 hours.
The pump by the canine-themed SHIB, the second biggest meme coin behind Dogecoin (DOGE), contributed to a 9% surge in the meme coin sector’s market’s capitalization during the last 24 hours to about $68 billion.
Cat In A Dogs World (MEW) led gains among the biggest meme coins by market cap with a 38% surge, followed by DOG•GO•TO•THE•MOON (DOG) with a 36% leap, and MAGA (TRUMP), which soared 23%.
<h2 id="span-style-font-weight-400-long-term-shiba-inu-investor-realizes-419x-profits-span">Long-Term Shiba Inu Investor Realizes 419x Profits</h2>
The pump in the SHIB price surge helped long-term investor to realize some outsized profits, according to the on-chain tracking app Lookonchain. After purchasing 48.09 billion SHIB tokens for $2,625 approximately 3.5 years ago, the investor cashed out for $1.1 million earlier today.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 After being dormant for 3.5 years, the super diamond trader finally sold <a href="https://twitter.com/search?q=%24SHIB&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$SHIB</a> at a profit.
 He spent 2 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ETH</a>($2,625) to buy 48.09B <a href="https://twitter.com/search?q=%24SHIB&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$SHIB</a> on Feb 1, 2021, and sold it for 278.7 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ETH</a>($1.1M) just now, a gain of 419x!<a href="https://t.co/Pw9i9wbKcn" rel="noopener noreferrer nofollow">https://t.co/Pw9i9wbKcn</a> <a href="https://t.co/Qvp9wKpWCc" rel="noopener noreferrer nofollow">pic.twitter.com/Qvp9wKpWCc</a>
 — Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1795122453087207450?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">May 27, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
With investors pumping capital into meme coins again, smaller presale tokens may also benefit. Among ICOs cited by analysts, Dogecoin derivative <a href="https://insidebitcoins.com/visit/dogeverse" rel="noopener noreferrer nofollow">Dogeverse</a> (DOGEVERSE) could be among the big winners with its launch just days away, while brand new ICO <a href="https://insidebitcoins.com/visit/playdoge" rel="noopener noreferrer nofollow">PlayDoge</a> (PLAY)has just exploded onto the scene after raising $200k in minutes of its launch.&nbsp;
Another red hot ICO is the AI meme coin <a href="https://insidebitcoins.com/visit/wienerai" rel="noopener noreferrer nofollow">WienerAI</a> (WAI), which mines two of the hottest niches in crypto: meme coins and AI. It’s presale has already raised more than $3.3 million.&nbsp;
On the Solana blockchain, Sealana (SEAL) has raised more than $3 million as it strives to be the next meme coin to explode on the network, and become a new WIF, BONK, or SLERF.
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 <li style="font-weight: 400;"><a href="https://insidebitcoins.com/news/playdoge-meme-coin-raises-200k-in-ico-explosion-can-it-challenge-floki-inu-with-doge-hype-play-to-earn-gaming" rel="noopener noreferrer nofollow">PlayDoge Meme Coin Raises $200K In ICO Explosion, Can It Challenge Floki Inu With DOGE Hype, Play-To-Earn Gaming?</a></li>
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Shiba Inu Flips Cardano With A 17% Surge To Become 10th-Biggest Crypto As Meme Coin Mania Returns

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