Shiba Inu leading Dogecoin in gains, SHIB up over 23% on the day

  • The crypto market is once again showing signs of a fresh run on Monday morning
  • Almost all coins are trading in the green with decent gains in the past 24 hours

Bitcoin and Ethereum trading on solid grounds

Bitcoin is currently swinging at around $42,700 and based on market sentiment; it could make an attempt at $43,000 early this week. Ether cleared resistance at $3,000 at the start of the weekend on the back of an end-week rally. The native token on Ethereum is currently trading at $3,076.05, having gained 2.45% in the last 24 hours.

Shiba Inu leads the meme-coin chart with over 23% gains

Notably, Shiba Inu has posted the biggest swell among the top 20 crypto assets by market capital. SHIB has gained a whopping 23% in the last 24 hours and is trading at $0.00002792.

The meme coin tanked to a multi-month low of $0.00001744 on January 22, failing to cross $0.000024 over the next two weeks. During yesterday’s late trading session, SHIB/USD surged over 20% within two hours to clear $0.000028. Despite recording a massive price upswing, SHIB is over 68% below its last record high set last October.

Nevertheless, charts show that the coin is changing hands at 34.81% higher than its price at the same time a week ago. Trading volume is also up by 337.73% to 2.867 billion, according to CoinMarketCap.

Shiba Inu’s market capital has swelled to almost $15.34 billion, surging past Polygon’s MATIC in market rankings. With a market capital of $13.3 billion, the latter has been pushed one position lower. SHIB is now within distance of Binance’s stablecoin Binance USD.

Other meme coins have also posted significant gains over the same period. Shiba Inu’s biggest rival, Dogecoin, has seen a price increase of 5.58%, bringing the cumulative 7-day gains to 13.83%. As of writing, it is changing hands at $0.1562, with a market capital approaching $20.7 billion.

XRP sets sight on $0.80

The price of Ripple’s token XRP has jumped by over 14% over the past 24 hours. No crypto token in the top 10 range has a higher hike within this period. XRP/USD is swinging around $0.77 but still 80% away from its all-time high. The coin’s market capital has similarly shot up to $36.68 billion and is closing in on Solana’s $37.13 billion circulating value.

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