Shiba Inu (SHIB) is the second-largest meme cryptocurrency inspired by Dogecoin. SHIB currently has a market capitalization of $4.9 billion from a circulating supply of 549,063.28B SHIB, according to market data from Coinmarketcap.
Coinmarketcap recorded that Shiba Inu became the most interesting cryptocurrency across the market in August, based on the number of views of the Shiba Inu page.
SHIB was the third-most-viewed cryptocurrency in North America, South America, Asia, and Africa, only behind Bitcoin and Ethereum. But in Oceania and Europe, Shiba Inu was ranked the fourth-most-viewed crypto, giving way to Terra Classic.
SHIB has been in the news lately, following increases in the price and project developments. The team has been developing several use cases to keep the project current and on investors’ minds.
From metaverse to DEX projects, SHIB looks poise to increase in the future. However, the chances are quite limited given the current situation in the crypto market. There has been a lot of bearish sentiment on crypto in light of the FTX collapse and liquidity crunch in the market.
At the time of writing, the price of Shiba Inu was around $0.000008884 on Coinmarketcap. The 24h trading volume was down by 7% to $180,953,706.