Shiba Inu (SHIB) Lands a Spot on a Very Prestigious Forbes List
TL;DR
- The cryptocurrency sector is experiencing a surge, with Bitcoin reaching over $70K for the first time and Forbes releasing a watch list of ten digital assets.
- The ranking highlights the popularity and volatility of meme coins like Shiba Inu and Dogecoin, dealing with which can lead to both significant gains and losses.
The cryptocurrency sector has been booming lately, with numerous digital assets reaching new all-time high prices. Bitcoin (BTC), for one, recently crossed the $70K for the first time in its 15-year history.
The resurgence has caught the eye of investors and enthusiasts, while experts lay out estimations and try to predict the market’s next move.
Most recently, the global media company – Forbes – also dived in, outlining the ten cryptocurrencies people should put on their watch list this month.
Unsurprisingly, the first two are Bitcoin and Ethereum, which collectively account for over $1.8 trillion in market capitalization.
Forbes’ list also goes through Ripple (XRP), Solana (SOL), and Cardano (ADA) to finish with Shiba Inu (SHIB). The media company described the second-largest meme coin as “an experiment to discover if a coin could work with no central governing authority.”
SHIB has been one of crypto’s rock stars as of late, with its price jumping by over 250% on a two-week scale, whereas its market capitalization briefly exceeded the $25 billion mark.
Important metrics related to its ecosystem, such as daily active addresses and total transactions on Shibarium, have also headed north.
Shiba Inu is not the only meme coin on the list, with the ninth spot belonging to the realm’s leader – Dogecoin (DOGE).
Other assets of that type that have made the headlines in the past several weeks but have not found a place in the ranking are dogwifhat (WIF), Bonk Inu (BONK), Pepe Coin (PEPE), Floki Inu (FLOKI), and more. All of these offer traders the chance of substantial profits in a short period of time, but they can also prompt colossal losses.
Those willing to enter the ecosystem should watch our dedicated video to protect themselves from some common mistakes:
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