Shiba Inu Edges Out Litecoin As 13th Biggest Crypto With 19% Surge

Shiba Inu (CRYPTO: SHIB) surpassed Litecoin (CRYPTO: LTC) to become the thirteenth largest cryptocurrency by market capitalization early on Wednesday. What Happened: At the time of writing, SHIB's market cap stood at $6.9 billion, while Litecoin's market cap was at $6.3 billion.

Timeline of Litecoin, Shiba-inu

Shiba Inu (SHIB) price rallied over 20%, with the price hitting a high of $0.00001289 on Wednesday. The catalyst for the pump is the most anticipated launch of the Shibarium Layer-2 blockchain.

Shiba Inu has substantially recovered over the last week; it surged over 20% in the same timeframe. Over the last 24 hours, SHIB has appreciated by 2.9%, but despite the rise in value, the coin has remained stuck below the $0.000011 mark.

The latest Litecoin price analysis is strongly bullish as it shows the cryptocurrency price function is headed upward for today. The price of LTC/USD is going up as it has now touched $87.20.

Curve DAO Token (CRV) flips Shiba Inu (SHIB) to become the most traded token among the top Ethereum whales. Shiba Inu occupied the top position among whales in the last few weeks due to the anticipated launch of the Shibarium Layer-2 blockchain solution.

Meme crypto Shiba Inu's price rallied more than most coins in the top 20 over the past week as the team announced that its Layer 2 network, Shibarium, is set to enter beta launch soon. The developers of the project insist that Shibarium has not been designed as a tool to manipulate the Shiba Inu price, but instead as a platform for achieving the vision and mission of their community.

The Litecoin (LTC) price trend can be considered bullish if the price does not break down below $79. The post Litecoin (LTC) Price Starts to Run out of Steam appeared first on BeInCrypto.

The Litecoin (LTC) price hovered below the $80 resistance level for over a month before breaking through it. The cryptocurrency's value rose even further today, reaching a high of $91 before retreating.

The Shiba Inu [SHIB] community's expectations for SHIB did not go as planned, as the memecoin's price declined by more than 2% in the last 24 hours, according to CoinMarketCap. At press time, it was trading at $0.00001053, with a market capitalization of over $5.7 billion.

As per an announcement on 16 January, Shiba Inu's [SHIB] would soon launch their own Layer 2 solution, called Shibarium. This move by Shiba Inu is significant for the project as it aims to delve into the layer 2 space and legitimize its cryptocurrency and protocol.

The last two months have been a nightmare for the entire crypto space as the altcoin market experienced its bottom levels since its bull run in 2021. Meme coins like Shiba Inu and Dogecoin have become the headlines as they dropped by 50% of their bullish values.