With nearly 80% increase over the last 7 days, the Shiba Inu (SHIB) appears as the strongest progression of the week among the top 100 crypto. A progression that could bring crypto to the top 10 of the most important digital currency projects. A tenth place currently held by another crypto-meme: Dogecoin.
What if the Shiba Inu definitely established himself as the Doge killer? By making a place for itself in the top 20 cryptos, the meme project is now aiming higher. Despite non-existent fundamentals and barely 4 months on the market.
Shiba Inu: On the way to the top 10?
At the time of writing, a SHIB token is trading on the markets for $ 0.00002861. For a marketcap of $ 11.2 billion. To integrate the top 10, currently closed by Dogecoin and its 29 billion capitalization, the price of Shiba Inu should almost triple. Unless that of Dogecoin comes to collapse. In order for the token to push the Doge out of the top 10, it would probably require a concordance of these two phenomena.
The following table shows the marketcap of projects located between Dogecoin and Shiba Inu.
| Crypto Project | Ranking (marketcap) | Marketcap value |
| Dogecoin (DOGE) | 10 | $ 29.04 billion |
| Terra (LUNA) | 11 | $ 14.54 billion |
| Uniswap (UNI) | 12 | $ 13.94 billion |
| Binance USD (BUSD) | 13 | $ 13.19 billion |
| Wrapped Bitcoin (WBTC) | 14 | $ 11.98 billion |
| Litecoin (LTC) | 15 | $ 11.73 billion |
| Avalanche (AVAX) | 16 | $ 11.62 billion |
| Shiba Inu (SHIB) | 17 | $ 11.23 billion |
If the marketcap gap seems to be large to reach tenth place, it is clear that the project could overtake several other projects whose valuation is only slightly higher. Even more so if the long-term trend on the Shiba Inu remains bullish.
Technical Analysis of the Shiba Inu
The tools of technical analysis (or graph) can give a number of lessons on the trend around the Shiba Inu token. With a trend that remains bullish for the moment after the levels near $ 0.000035 reached last Sunday. This level therefore remains a realistic short-term objective for the SHIB.
If we focus on the bearish support levels, the first level is around $ 0.00002850. If the price breaks this first level of support, the threshold of 0.00002450 will be heavily scrutinized. A passage below this threshold could then create a negative dynamic and indicate a change in trend.
Regarding the factors of fundamental analysis, we will focus in particular on the rumors of asset listing on the Robinhood platform. Anyway, the Shiba Inu is already available from a major player in online trading: the eToro platform.
Elon Musk: The Decisive Actor?
Elon Musk could continue to play a key role for the Shiba Inu.
When it comes to valuing a cryptocurrency meme, Elon Musk is never far away. The famous American billionaire, CEO of Tesla and Space X companies could also have his say on the Shiba Inu marketcap.
To be convinced, it suffices to go back a few days. When Elon Musk posted a photo of his Shiba Inu. An action that will have allowed the asset price to climb by more than 30% in just a few minutes. What if the Shiba was only a few tweets away from making a place for itself among the top 10 crypto projects?
