Shiba Inu Surpasses $6 Billion Market Cap as SHIB Takes 11th Spot

The popular canine coin SHIB, which claims to be more than just about memes, has broken above the $6 billion level by market capitalization.

Currently, according to the CoinMarketCap analytics website, SHIB boasts a market cap of $6,388,003,624 with a trading volume of $593,528,650.

Over the past 24 hours, the leading dog-themed cryptocurrency has demonstrated a substantial rise by 8.15% and weekly growth of almost 20%. Thus, the coin has removed one more zero from its price, and at press time it is changing hands at $0.00001083.

Prior to this, as reported by U.Today, IntoTheBlock shared that SHIB had witnessed an impressive holders’ inflow of 1,194% as whales had stocked up on more Shiba Inu.

These drastic positive changes for SHIB are happening ahead of the upcoming launch of Shibarium, which is expected to take place during the Blockchain Futurist Conference in Toronto, Canada, on Aug. 15-16. SHIB will be among the major sponsors of the event with its pseudonymous leader Shytoshi Kusama delivering a speech via AI technology — this will allow him to mask his true identity and speak under the pseudonym.

Prior to the much-awaited release of the Layer-2 solution Shibarium, Kusama announced that three new major “partnershibs” are coming and one has already been signed. Through it, the SHIB team will see an inflow of valuable experts, according to a recent Telegram message from Kusama. The other two partnerships will be revealed later on.

Kusama has recently also made a curious statement that sounds like an equation, “SHIB > X,” but in fact is a jab taken at Elon Musk’s social media giant. Kusama explained that he was not talking against X in particular but was rather giving a warning to anyone who will attempt to copycat Shibarium.

SHIB and Shibarium are bigger than anything else in the blockchain world, per Kusama, and for anyone who will try to copy those, it will take lifetimes without a successful result.