---
title: "Shiba Inu Outpaces Bitcoin Cash as SHIB Price Jumps 5%"
url: https://diffcoin.com/shiba-inu-outpaces-bitcoin-cash-as-shib-price-jumps-5/
description: "Shiba Inu is now the 19th largest cryptocurrency by market capitalization."
published: 2023-11-07
updated: 2023-11-07
author: "Mila"
site: "Diffcoin"
---

# Shiba Inu Outpaces Bitcoin Cash as SHIB Price Jumps 5%

**TL;DR**

- Shiba Inu (SHIB) has surpassed Bitcoin Cash (BCH) in market capitalization, ranking as the 18th largest cryptocurrency with nearly $5 billion in value.
- SHIB experienced a price rally, increasing around 5% in 24 hours and 12% over two weeks, outperforming major cryptocurrencies like BTC and ETH, which have shown more stability in their price movements.
- The SHIB surge is potentially influenced by the development of Shibarium, a layer-2 solution aimed at reducing transaction fees and increasing speed for the Shiba Inu network, which has recently exceeded 1.5 million blocks.

## Shiba Inu’s Recent Push

The popular meme coin and the second-biggest by market capitalization in its realm – Shiba Inu – made the headlines again by surpassing Bitcoin Cash in terms of market capitalization. Currently, SHIB is the 18th largest cryptocurrency with a market cap of almost $5 billion, whereas BCH is following closely at the 19th spot.

This noteworthy development comes on the heels of a SHIB rally. The self-proclaimed Dogecoin killer has risen approximately 5% in the past 24 hours and over 12% on a two-week basis.

![SHIB Price](data:image/svg+xml;base64,PHN2ZyB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciIHZpZXdCb3g9IjAgMCAxMDQ3IDgyMiIgd2lkdGg9IjEwNDciIGhlaWdodD0iODIyIiBkYXRhLXU9Imh0dHBzJTNBJTJGJTJGY3J5cHRvcG90YXRvLmNvbSUyRndwLWNvbnRlbnQlMkZ1cGxvYWRzJTJGMjAyMyUyRjExJTJGU0hJQi1QcmljZS5wbmciIGRhdGEtdz0iMTA0NyIgZGF0YS1oPSI4MjIiIGRhdGEtYmlwPSIiPjwvc3ZnPg==)

SHIB Price, Source: CoinGecko

In comparison, many of the largest crypto assets by market cap, such as Bitcoin (BTC) and Ether (ETH), have consolidated around their valuations in the past few days.

## Shibarium’s Progress

One factor playing a role in SHIB’s price increase could be the advancement of the layer-2 scaling solution Shibarium. As *CryptoPotato* reported, the network has smashed several milestones during its two-month existence. Most recently, the total number of blocks in Shibarium surpassed the coveted level of 1.5 million.

The L2 blockchain solution aims to help Shiba Inu gain a leading position in the memecoin sector by lowering transaction costs and improving speed. Those curious to find out more about its purposes and specifics could take a look at the video below:

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[Source link](https://cryptopotato.com/shiba-inu-outpaces-bitcoin-cash-as-shib-price-jumps-5/)