Shiba Inu, a meme-based cryptocurrency, has surged 130% and entered the top 10 rankings of cryptocurrencies, surpassing established coins like Chainlink, Polkadot, and Tron in market capitalization.
This surge is part of the overall explosive growth seen in the cryptocurrency market this week, with many non-stablecoin cryptocurrencies experiencing significant gains, some reaching triple digits.
However, analysts have expressed concerns about potential overheating and a possible market correction. Despite these concerns, the majority of the top 10 cryptocurrencies have seen substantial growth, with coins like Solana, Cardano, and Bitcoin recording gains exceeding 20%.
This bullish trend reflects the potential for innovation and community engagement in the crypto industry, suggesting a potentially prosperous period for the market.
Source: DAILYCOIN
