This morning, Shiba Inu (SHIB) was able to overtake TRON (TRX) in terms of market capitalization, according to data from CoinMarketCap. This comes after SHIB saw an impressive increase of more than 40% over the last week, which added another $2 billion to its market cap.
SHIB market cap (Source: CoinMarketCap).
SHIB’s market cap currently stands at $6,350,728,199, and since this morning TRX has once again overtaken SHIB with its current market cap of $6,398,759,584. This means that TRX is currently in the 13th position on the CoinMarketCaps list, and SHIB is currently in the 14th position.
Although a 40% increase could be considered a win for SHIB, it is important to take into consideration that TRX could have lost some traction because the USDD stablecoin that was launched by Tron DAO lost its peg in mid-June, and has not been able to recover since.
Also important is that ETH whales are busy stocking up on SHIB which could give the meme coin a bit of an upper hand over TRX.
At the moment. SHIB is trading at $0.00001157 after a 1.53% decrease in price over the last 24 hours, and after reaching a high of $0.00001196 over the same period.
SHIB’s 24-hour trading volume is also down 18.47% and is standing at $605,576,670.
TRX is currently worth $0.0699 after a 7.97% increase in price over the last day. The crypto’s trading volume is also up 70.76% and is standing at $681,398,080.
Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CQ. No information in this article should be interpreted as investment advice. CQ encourages all users to do their own research before investing in cryptocurrencies.
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Source: Cryptocurrency - investing.com
