• The "flippening" narrative, originally worded for Ethereum's takeover of Bitcoin, has a new meaning with Shiba Inu's explosive rally. 
  • Investor famous for predicting the 2008 financial crisis considers Shiba Inu pointless, SHIB's burn mechanism tackles the argument. 
  • Bitpanda joins the list of exchanges that facilitate SHIB trading.

Shiba Inu continues its upward climb, and experts predict that the memecoin is gearing for a spot in the top three cryptocurrencies by market capitalization. Shiba Inu's price historically retraces after SHIB millionaires sell their holdings. 

SHIB to flip ADA in the current rally, according to experts

Shiba Inu, the memecoin that became popular as Dogecoin-killer, now ranks twelfth based on market capitalization, according to crypto data aggregator CoinGecko. 

The team behind the Shiba Inu token consistently announces new updates to the ecosystem, keeping up with the latest cryptocurrency trends. The news of the burn policy was followed by new listing announcements and the launch of 10,000 NFTs (Shiboshis). 

Coinbase listing was a key factor that triggered a rally in the token, driving the price to $0.00003473. Though SHIB price is 22% away from its all-time high, the memetoken has made a massive comeback over the past four weeks. 

The implementation of the burn policy has fueled a bullish outlook among traders. Shytoshi Kusama, project head for the SHIB ecosystem, recently tweeted about the new burn policy and its impact on Shiba Inu. 

With its rapid growth and rising market capitalization, SHIB has already surpassed Litecoin, Chainlink and Avalanche. SHIB price is up over 245% in the past week. 

@DelCrypto, a stock market and cryptocurrency analyst, recently argued that Shiba Inu is primed to rank in the top three cryptocurrencies by market capitalization. The analyst is of the opinion that SHIB is likely to dethrone ADA. 

The narrative of "flippening" is used in the context of Ethereum surpassing Bitcoin's market cap. The new "flippening" is SHIB, possibly dethroning ADA and ranking in the top three cryptos. 

SHIB's current market capitalization is $14.6 billion and five times increase puts Shiba Inu at par with Cardano. Cardano's market cap is $71 billion. 

Critics are rejecting the possibility of further growth in SHIB price. Michael Burry, the investor who famously predicted the 2008 financial crisis, was recently quoted as saying:

Just saying, one quadrillion seconds is about 32 million years; One quadrillion days is 2.7 trillion years, or ALL of TIME, from the beginning of the universe, multiplied by 71,000. In other words, pointless.

SHIB's supply is capped at one quadrillion tokens, and Burry considers the memetoken pointless. Despite the critique, SHIB price is climbing higher. 

FXStreet analysts have predicted that the memecoin is likely to present a buying opportunity to traders before hitting a target of $0.00005.

 


 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Cryptos feed Join Telegram

Recommended content


Recommended Content

Editors’ Picks

Three reasons why Aptos price rally could lose steam after 400% gains

Three reasons why Aptos price rally could lose steam after 400% gains

Aptos witnessed a massive spike in its price since December 29, but on-chain analysts and experts suspect the token’s price rally could soon come to an end

More Cryptocurrencies News

Three reasons why Bitcoin price analysis hints at a pullback to this level

Three reasons why Bitcoin price analysis hints at a pullback to this level

Bitcoin price has been on a steady uptrend since January 1 and has shown no signs of stopping so far. However, things are starting to change with January 29’s daily candlestick close and could point to an incoming sell-off.

More Bitcoin News

Solana price might be in a micro uptrend, but here's why traders should practice caution

Solana price might be in a micro uptrend, but here's why traders should practice caution

Solana price is maintaining its presence above the $22 mark that it reclaimed about a week ago, enabling the altcoin to preserve its uptrend.

More Solana News

Cardano Price Prediction: ADA still in an uptrend until this level fails

Cardano Price Prediction: ADA still in an uptrend until this level fails

Cardano price accomplished an impressive 66% rally in January. As the price continues to ascend, there are reasons to consider that a pullback is on the horizon. 

More Cardano News

Bitcoin: If bulls are back, this is where you can accumulate BTC next

Bitcoin: If bulls are back, this is where you can accumulate BTC next

Bitcoin price shows a lack of momentum after an explosive move in the last three weeks. The fourth week has been relatively silent, without a lot of volatile moves. While BTC consolidates, other altcoins are rallying left and right, providing massive gains.

Read full analysis

BTC

ETH

XRP