The run-up in the price of Shiba Inu (SHIB) so far in October has pushed the SHIB token to become the 20th largest digital asset by market capitalization.
Shiba Inu's circulating market valuation jumped to $11.08 billion earlier this week and is currently above $10 billion, putting it in the top-20 by market cap for the first time. As a result, the Dogecoin-inspired meme cryptocurrency became more valuable than popular blockchain projects like Stellar (XLM), Polygon (MATIC) and Tron (TRX).