Shiba Inu coin is one spot away from replacing dogecoin as the 10th biggest cryptocurrency as #SHIBarmy rallies bulls

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Pavlo Gonchar/SOPA Images/LightRocket via Getty Images Pavlo Gonchar/SOPA Images/LightRocket via Getty Images

Shiba inu coin is eyeing a spot among the top 10 largest cryptocurrencies amid an epic rally.The meme coin has risen about 125% in the last 7 days, stoked by retail investors in the #SHIBarmy.It’s about $7 billion behind its predecessor dogecoin in terms of market capitalization.Shiba inu coin is nearing a spot in the list of top 10 cryptocurrencies as an army of retail traders take the token to new heights.

On Twitter, the hashtag #SHIBarmy trended as fans of the coin cheered it on as it narrowed the gap with dogecoin as the 10th largest cryptocurrency by market capitalization.#SHIBDELETEAZERO also trended on Twitter with about 9,000 tweets.

“We are 1 away from taking over!” wrote the “The Shiba Boy,” echoing similar sentiments from others in the so-called SHIB army.

In the last seven days, the cryptocurrency, named after the meme-famous breed of dog, has rallied 125.35%, according to CoinMarketCap data .Much of the rally came Wednesday alone as the cryptocurrency rose 42% to $0.00006291 at 10:24 a.m.in New York.

The rally puts the coin in striking distance of the token that inspired it – dogecoin- which currently sits in the 10th spot with an approximate $31 billion market valuation.

Shiba inu coin is about $7 billion away from that, CoinMarketCap data show.

Investor enthusiasm also stemmed from a rallying cry from thousands of retail traders asking Robinhood to add shiba inu trading to its crypto platform.The online petition has been signed by more than 340,000 people, according to change.org .Robinhood CEO Vlad Tenev, however, told investors on its third-quarter earnings call that it was satisfied with the current coins listed and was awaiting further regulatory clarity.

Read the original article on Business Insider .

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