Shiba Inu Takes Over Cardano With Today’s Surge: What’s Next?

Following the surge of the Pepe Coin and other meme coins, Shiba Inu has also experienced significant gains. Earlier today, the Shiba Inu price surged by 18%, reaching a month-high of $0.00002931. This has resulted in a change in SHIB's position in the crypto market, with its market cap reaching $17.27 billion, making it the 10th largest cryptocurrency, surpassing Cardano. While Cardano's price is catching up and may regain its spot, this is a significant milestone for the dog meme coin.

The Shiba Inu pump is attributed to the SEC's recent approval of the Ethereum ETF. This approval has opened up growth opportunities for Ethereum and Ethereum-based coins, including SHIB. PEPE, FLOKI, NOT, and others have seen gains, and now Shiba Inu has joined the rally. SHIB's price was stagnant until yesterday, but it has now caught up with other meme coins. Additionally, Dogecoin's impending rally has generated buzz around dog meme coins, which has also benefited Shiba Inu. The increasing buying activity from investors has contributed to SHIB's 18% gain.

Whether the surge will be sustained or if SHIB's price will drop remains uncertain.