Shiba Inu Included in Forbes’ List of Top 10 Cryptocurrencies to Invest In
Forbes has recently released its list of the top 10 cryptocurrencies for March 2024, and it has brought attention to an unexpected competition between Shiba Inu (SHIB) and Dogecoin (DOGE).
Shiba Inu has caught Forbes’ eye with its remarkable 280% surge in the past month, surpassing the growth of Bitcoin, Ethereum, and the US stock market. Despite being ranked last in the top 10 for March 2024, SHIB’s inclusion is a significant milestone as it stands alongside crypto giants like BTC, ETH, Tether, Solana, and XRP.
Forbes acknowledges Shiba Inu’s transformation from a joke to a major player, highlighting its $24.4 billion market cap and a price above $0.00004 as of March 5, 2024. SHIB’s impressive rally, with a 378.11% increase in just eight days, has attracted investors, despite a minor 1.06% dip in the last 24 hours. However, caution fills the market as SHIB retraces to $0.00003222, indicating a broader bearish trend.
In addition, Forbes raises concerns about Dogecoin, a meme-inspired cryptocurrency that has gained credibility. The unlimited supply of Dogecoin raises questions about its long-term value. Currently priced at $0.180490, with a high trading volume of $5.85 billion in the past day, DOGE has a market cap of $25.88 billion and a market dominance of 1.00%. Following the news, DOGE’s price has surged by 8.00% in the last 24 hours, showing decent trading activity and price movement.
Apart from Shiba Inu and Dogecoin, Forbes recommends other cryptocurrencies for the current bullish market. BTC, ETH, XRP, BNB, Solana (SOL), and Cardano (ADA) are among the notable mentions. Stablecoins like USDT and USDC are also praised as stable options for investors amidst market volatility.
The upcoming Bitcoin halving is expected to play a crucial role in determining the fate of Shiba Inu and Dogecoin. Speculations suggest that SHIB’s price may rise, putting it in a higher position on Forbes’ list. This positive outlook not only benefits Bitcoin and Shiba Inu but also paints a promising picture for XRP and the entire crypto industry in the coming months.