Shiba Inu (SHIB) Flips Tron (TRX) In Terms Of Market Cap

  • The excitement caused by Shytoshi Kuasama’s recent Shibarium announcements are on the increase.
  • SHIB is currently worth about $0.00001118 after a 1.18% increase in price.

Earlier this morning, those who took a peek at CoinMarketCap would have been shocked to see that the meme coin Shiba Inu (SHIB) flipped Tron (TRX) in terms of market cap. At that time, SHIB was ranked as the 14th biggest crypto while TRX occupied the 15th position.

Crypto rankings by market cap (Source: CoinMarketCap)

Since then, these two cryptos have once again flipped positions with TRX reclaiming the 14th spot. The fact that SHIB was able to flip TRX, even for a short while, proves that the excitement caused by Shytoshi Kuasama’s recent Shibarium announcements are on the increase among SHIB fans.

SHIB burn rate (Source: Shibburn)

Kusama recently revealed that Shibarium Beta might be launched as soon as this month. In addition to this, on March 5, more than 43.19 million SHIB was burned in just 24 hours. This is an almost 8,000% increase from the previous day’s 539,295 SHIB. The Shibburn website indicates that the burn rate is up by 89.25% since yesterday, and 30,174,914 SHIB has been burned over the last day.

SHIB price (Source: CoinMarketCap)

SHIB is currently worth about $0.00001118 after a 1.18% increase in price over the last day. The meme coin is, however, still down by more than 10% over the last week. In terms of market cap, SHIB stands at $6,137,192,649, which makes it the 15th biggest crypto.

TRX price (Source: CoinMarketCap)

TRX is now trading hands at $0.06727 after a 0.49% increase in price over the last day. The altcoin’s market cap stands at $6,145,349,773, making it the 14th biggest crypto in terms of market capitalization.

Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.

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