-->Meme coins have skyrocketed this weekend, with BONK up +200%, DOGE up +97% and SHIB up +180% in the past 7 days. The Shiba Inu community is very bullish and expects the Shiba Inu price to rise to $0.01 with the help of even more SHIB burns.

Can Shiba Inu become the biggest meme coin now that SHIB is almost as big as DOGE?

Shiba Inu Price Rises to $16 Billion Market Cap – How Much Can Shiba Inu Be Worth?

Shiba Inu is above $0.00002500 for the first time since almost a year ago. This follows a parabolic rise that meme coins experienced last weekend, which means that SHIB is currently quite far above its moving averages.

In addition, SHIB has a Relative Strength Index (RSI) close to 100, which above 70 signals that Shiba Inu is overvalued. But now that the Shiba Inu price has climbed another +30% today, the question remains whether a correction will take place soon.

Shiba Inu rate chart
Shiba Inu rate chart – TradingView

Shiba Inu has reached a market cap of $16 billion, which is about 33% lower than Dogecoin’s market cap of $24 billion. This means that if Shiba Inu increases by another 50% from this level, it could surpass Dogecoin, provided Dogecoin does not rise further.

Dogecoin, the number one largest meme coin, currently occupies ninth place on the list of largest cryptocurrencies by market capitalization, while Shiba Inu ranks eleventh. While both meme coins are growing in popularity, Shiba Inu has the advantage of continually removing more tokens from circulation.

Data from the burn tracker, Shibburn, shows that Shiba Inu originally had a stock of 999.98 trillion SHIB, of which 589 trillion now remain. This indicates that sooner or later the original supply will be halved, which could not only increase the value per SHIB but also represent a significant milestone for the project.

Shiba Inu enjoys a significant community and the development of its Shibarium ecosystem, which gives this meme coin more uses than Dogecoin. As a result, SHIB could potentially surpass Dogecoin in the future.

Shiba Inu are currently very popular, but possibly also overvalued. A rise of another 100% could be possible this week, but the risk of a correction and profit-taking is also increasing.

It is likely that SHIB will close the new week within a range of $0.00002000 to $0.00005000.

Which Meme Coins Will Explode This Week?

The price of Shiba Inu could rise even further this week, but this will require significant capital as the meme coin has a market cap of $18 billion. Moreover, there is a growing chance that large investors will take their profits, which could lead to several price drops this week.

Now that meme coins are extremely popular, it is useful to look at some low-cap meme coins that still have a lot of room to rise. Because the meme coins below have a lower market capitalization, an early investment in these coins can potentially make a lot of money.

Frog Wif Hat (FWIF)

Shiba Inu is not the only meme coin that is currently very popular, Frog Wif Hat (FWIF), a new meme coin that was launched last week, has also risen considerably. The meme coin combines the popular theme “wif hat”, with the popularity of Pepe, which has risen more than +400% in the past week.

Frog Wif Hat, an ERC-20 token on Ethereum, could soon rise further as the meme coin will soon launch on Solana. Currently, meme coins on Solana are taking advantage of the low-cost transactions on the network, which could make FWIF even more popular.

You can buy Frog Wif Hat from the official website, which will direct you to the decentralized exchange (DEX) Uniswap. FWIF currently has a small market cap of less than $5 million and could easily increase by x20 from this point.

Smog (SMOG)

Another impressive meme coin that has received a lot of attention is Smog (SMOG), which launched on Solana and Ethereum earlier this month. This meme coin is planning the largest Solana airdrop ever and has increased in value by over +70% in the past week.

By staking tokens for a 42% APY and completing quests, you earn airdrop points, increasing your share of the airdrop. By buying and holding SMOG, you automatically participate in the emerging crypto airdrop.

You can buy Smog via the official website and via Jupiter on Solana. Because the meme coin is already a few weeks old, it has already reached a market cap of $80 million, this does not stop SMOG from going towards $1 billion, thanks to the utility that the meme coin brings.

Scotty The AI (SCOTTY)

Scotty The AI ​​(SCOTTY) is a brand new meme coin that is developing high-quality AI tools. This allows SCOTTY to ride on the popularity of both meme coins and AI crypto coins.

The project aims to build a strong community and provide members of this community with additional protection against hackers and scams and provide important information about the crypto market. The first AI tools that can be used are ScottySwap for swapping tokens and ScottyChat, the chatbot of Scotty The AI.

SCOTTY is temporarily available for purchase in a presale, allowing you to buy the token at a rock-bottom price before it launches on exchanges. The meme coin will be launched with a low market cap, giving it a lot of potential to explode in value in this bull run.

Disclaimer: This article contains insights from independent authors and is not part of BitcoinMagazine.nl’s editorial content. This is not investment advice, please do your own research.

Source: https://bitcoinmagazine.nl/nieuws/shib-koers-stijgt-180-hoeveel-kan-shiba-inu-waard-worden

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