Meanwhile, Shiba inu is the 11th largest crypto by market capitalization. SHIB reached $31 billion in market cap and has gained 570% in a month compared with a 20% increase in Bitcoin, the largest digital token by market value.
However, several investors are skeptical about meme-based crypto. Some traders believe that SHIB isn’t useful and has no use cases. For instance, Kraken, one of the biggest crypto exchanges suggested it might list the coin but canceled the move shortly after.
