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SHIB flips CRO, Ranks as the 12th Biggest Crypto by Market Cap in the World

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  • Shiba Inu (SHI) has dethroned Crypto.com’s CRO in market cap.
  • SHIB is now the 12th biggest crypto in the world.
  • The Shiba Army believes that SHIB will flip Dogecoin and Avalanche next.

Self-acclaimed Dogecoin killer Shiba Inu (SHIB) is climbing ranks in the crypto market today. Just this morning, SHIB has overtaken crypto.com’s native token CRO in terms of market capitalization based on a new crypto update on CoinMarketCap.

With SHIB’s new turn, Shiba Inu (SHIB) currently ranks as the 12th biggest cryptocurrency in the world. This is an impressive and nice outlook that the SHIB token has covered so far. Without a doubt, the entire crypto space will jubilate about this SHIB’s new market cap uptrend.

Also, with the consistent full support from the “Shiba Army” community, seemingly, Shiba Inu is showing that it is not even afraid to compete with the other top-ranking cryptos in the market right now.  Also, looking at how SHIB has freshly dethroned CRO in rank and even by market cap value, its die-hard fans are thinking of the next crypto on the table that SHIB will soon overtake next.

Guess what, right before SHIB Inu is just two steps away from Elon Musk’s favorite — Dogecoin (DOGE) and Avalanche (AVAX) on the list. Never say never, can SHIB bring what seems to be impossible to reality and dethrone DOGE and AVAX as the next big cryptos?

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At the moment, there is no “yes or no” answer to this question yet. All that we have to do is to sit back and watch closely how Shiba Inu will perform in the coming days. 

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New SHIB Whale Holds 3.2 Trillion Shiba Inu Tokens Amid Accumulation Spree

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An anonymous buyer has over 3.2 trillion SHIB tokens in his possession after a recent  accumulation spree

According to WhaleStats, the crypto market has witnessed the birth of a new SHIB whale. The anonymous buyer, who has been on a recent accumulation spree, now holds nearly 3.2 trillion SHIB tokens.

In three large transactions, the SHIB whale bought $120,342,829 million worth of Shiba Inu to join the growing list of large holders for the dog-themed coin.

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The first large transaction appeared on the blockchain about two days ago when the whale bought nearly 3.15 trillion Shiba Inu tokens, or $105,487,757 worth. This was followed by two transactions within a period of 30 minutes of 84.7 billion SHIB ($3,233,066) and 8 billion SHIB ($275,776) on Dec. 7.

Whale transaction
Whale Transaction, Courtesy: WhaleStats

As of press time, SHIB was trading at $0.00003620.

SHIB adoption continues to grow

As reported by U.Today, SHIB is now listed as a payment method on Travala.com to book over 3 million travel products worldwide. California-headquartered electronics seller Newegg stated in late November, integrating Shiba Inu through a partnership with payment processing service BitPay.

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Likewise, AMC, the number one movie theater chain in the world, became the first BitPay customer to decide to accept Shiba Inu. In mid-November, CEO Adam Aron confirmed that the new payment option would be added in early 2022.

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Dogecoin Killer Shiba Inu to Start Trading on Bitstamp

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Despite snubbing Dogecoin earlier this year, Bitstamp has now listed rival Shiba Inu.

Bitstamp, one of the longest-standing cryptocurrency trading platforms in the world, has listed Shiba Inu (SHIB) in what appears to be one of the most significant endorsements for the meme coin to date.

Deposits and withdrawals have already been opened, with trading kicking off on Dec. 9 at 8:00 a.m. UTC.

Apart from Shiba Inu, Perpetual Protocol (PERP), dYdX (DYDX) and Gala (GALA) have also been added to Bitstamp.

It is worth mentioning that the aforementioned cryptocurrencies will not be available in the U.S. and Singapore for now.

As reported by U.Today, Bitstamp also listed Cardano (ADA) in late November.

Quality over quantity

Bitstamp, which was launched all the way back in 2011 as a European alternative to the now-defunct Mt. Gox exchange, is known for its strong emphasis on regulatory compliance.

Sticking to its conservative listing policies, the Luxemburg-headquartered exchange chose to ignore Dogecoin despite the immense retail interest that pushed the price of the original meme coin through the roof in early 2021.

Bitstamp CEO Julian Sawyer commented on the snub in September, claiming that the exchange chooses quality over quantity. He took issue with centibillionaire Elon Musk’s influence on Dogecoin’s price action:

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The issue is that if you go to some that are hyped up by a billionaire’s tweet, or crashes on a billionaire’s tweet, we don’t think that’s right.

Bitstamp remains the largest European exchange by trading volume.

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SHIBA INU Forecast December 8, 2021

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SHIBA INU is trading at the time of the publication of the forecast at the level of 0.00003715, and continues to move within the correction and the downward channel. Moving averages indicate a bullish trend. Prices broke through the area between the signal lines upward, which indicates pressure from buyers of the coin and a potential continuation of growth from the current levels. As part of the SHIB/USD rate forecast, one should not consider an attempt to develop a bullish correction in the value of a digital asset and a test of the resistance area near the level of 0.00003995. From where a rebound is expected again downward and an attempt to continue the fall of the SHIBA INU cryptocurrency with a potential target below the level of 0.00003005.

SHIBA INU Forecast December 8, 2021

An additional signal in favor of reducing SHIB/USD quotes for tomorrow will be a rebound from the resistance line on the relative strength index (RSI). The second signal will be a rebound from the upper border of the descending channel. Cancellation of the growth option for the SHIBA INU cryptocurrency will be a fall and a breakdown of the 0.00004695 area. This will indicate a breakdown of the resistance area and continued growth of SHIB/USD quotes with a target above the level of 0.00004995. Confirmation of the fall in the cryptocurrency will be the breakdown of the support area and the closing of quotations below 0.00003155.

SHIBA INU Forecast December 8, 2021

SHIBA INU Forecast December 8, 2021 suggests an attempt to develop a small correction of the coin and test the resistance area near the level of 0.00003995. Then, the continuation of the fall to the area below the level of 0.00003005. An additional signal in favor of reducing SHIBA INU will be a test of the trend line on the relative strength index (RSI). Cancellation of the fall option will be a strong growth and a breakdown of the 0.00004695 area. This will indicate a continued rise in the cryptocurrency with a target above the level of 0.00004995.

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