After Bitcoin, Shiba Inu Becomes 3rd Most Traded Cryptocurrency

Vinod Dsouza
Shiba Inu Bitcoin
Source: Pexels

Bitcoin climbed above the $63,500 mark on Monday and is attracting heavy bullish sentiments in the indices. The overall cryptocurrency market is brimming with an influx of new funds where investors are reaping handsome profits. Millions worth of Bitcoin profits also entered Shiba Inu making the token rally nearly 180% in 30 days.

Also Read: Shiba Inu (SHIB) Forecasted To Surge 300%: Here’s When

Shiba Inu holders almost doubled their investments this year as SHIB steadily climbed up the charts. Read here to know a realistic price prediction on when SHIB could climb above the $0.01 mark.

After Bitcoin & Ethereum, Shiba Inu Is Now The 3rd Most Traded Cryptocurrency

bitcoin btc shiba inu shib
Source: Watcher Guru

Shiba Inu becomes the third most traded cryptocurrency in the world after Bitcoin and Ethereum, data from Coingecko shows. SHIB’s market cap is now close to reaching $14 billion with a 24-hour trading volume coming close to $4 billion. On the other hand, Bitcoin’s trading volume touched a monthly high of $36.3 billion.

Also Read: Shiba Inu Can Reach 10 Cents ($0.10) If This Plays Out

The numbers for Bitcoin, Ethereum, and Shiba Inu are increasing rapidly and could touch new highs in March. Experts predict that the cryptocurrency market could surge until the Bitcoin halving event which is scheduled for April 2024. Bitcoin’s supply will be cut in half making BTC scarcely available which could eventually push its price much higher.

If Bitcoin sustainably scaled up the charts, Ethereum, Shiba Inu, and the broader cryptocurrency market will follow suit. Therefore, the cryptocurrency market is expected to surge in the next 60 days delivering stellar returns to investors. However, JP Morgan has predicted that Bitcoin could fall to $42,000 after the halving leading the cryptocurrency market to shed all its gains.

Also Read: When Will Shiba Inu Reach $1?

At press time, Shiba Inu was trading at $0.00002541 and is up nearly 20% in the 24-hours day trade. Moreover, SHIB is down close to 71% from its all-time high of $0.00008616, which it reached in October 2021.