Shiba Inu entered the weekend top 10 with more than TRX, tons.

Over the weekend, Shiba Inu (SHIB) leapfrogged both Tron (TRX) and Toncoin (TON) to top the list of largest cryptocurrencies by market capitalization.

The breakout followed a positive performance last week, when the dog-centric meme coin's price surged more than 70% at one point.

The price of SHIB increased by 12%

In the year On November 10, data from various crypto price tracking websites, including CoinGecko and CoinMarketCap, showed that SHIB was among the top 3 performers in the market. That day, it gained 25%, briefly exceeding $0.000027. It marked a multi-month high that pushed the coin's market cap to more than $14 billion.

At the time of writing, SHIB was at $0.00002516, a 12.5% ​​gain in the last 24 hours and a 48.7% jump in seven days. It has significantly outperformed the global crypto market, which is up more than 21% in the last seven days.

The latest gains have pushed the meme token above the $0.0002169 level, the second most valuable since June. Analysts suggest that it could break further if it supports the current move.

While it is 70% below its October 28, 2021 high (ATH), SHIB is 44021689.3% higher than its low recorded four years ago in November 2020.

Additionally, its current market cap of $14.77 billion puts it nearly $600 million higher than Tron and $1.4 billion higher than Toncoin. While TRX rose a modest 0.7%, TONE fell 2.7% on the last day.

Uptick in the broader Crypto market

As CryptoPotato reports, the meme coin's run coincided with Donald Trump's landslide victory in the recently concluded US presidential election. During his campaign, the president-elect positioned himself as a pro-Creto candidate, and his victory was seen by many as a new dawn for the industry.

His win sent prices soaring across the broader crypto market, with Bitcoin (BTC) quickly breaking all-time highs.

There has also been a meme coin revival with Dogecoin (DOGE) leading the charge. Valued at over $41 billion, DOGE is now the sixth largest cryptocurrency by market capitalization, replacing USD Coin (USDC).

Meanwhile, SHIB is currently ranked #10 (by CMC), following a late rally by Cardano ( ADA ) that puts it at #9 with a $20.5 billion valuation. The benchmark's lead developer, Shitoshi Kusama, put SHIB's high value down to “the power of technology and creative thinking” that led the project through a bear market.