Shiba Inu once carried so much promise that the crypto space actually believed it will flip and overtake the “OG” (slang: original gangster) dog-themed crypto, Dogecoin.
But SHIB failed to live up to the hype, falling victim to the volatility that has been plaguing the cryptocurrency market this year.
At one point, Shiba Inu ranked behind Dogecoin in terms of market capitalization. But now, the crypto asset has fallen even further behind DOGE.
According to tracking from Coingecko, SHIB ranks 13th among all digital currencies, having a market cap of $ 5.9 billion. As of this writing, it is trading at $ 0.00001015, losing 7.8% of its value for the past week.