Shiba

Shiba Inu

Avalanche

Coin

<ul class="news-points">
 <li>Shiba Inu surpasses Avalanche in market cap, reaching $12.71B vs. $12.60B.</li>
 <li>Shiba Inu’s burn rate surges 2,814%, with 7.9 million tokens burned.</li>
 <li>Avalanche’s price drops 11%, despite ecosystem growth and partnerships.</li>
</ul>
Shiba Inu (SHIB) has overtaken Avalanche (AVAX) in market capitalization, marking a significant shift in the cryptocurrency rankings.
As of the latest data from CoinMarketCap, Shiba Inu’s market capitalization is $12.71 billion, slightly ahead of Avalanche’s $12.60 billion. This change has propelled Shiba Inu to the 11th spot in the market cap rankings, pushing Avalanche to 12th.
At press time, Shiba Inu was trading at <a href="https://coinmarketcap.com/currencies/shiba-inu/" target="_blank" rel="noopener noreferrer nofollow">$0.000022</a>, with a 24-hour trading volume of $786,592,387. The token is down 2.33% in the last 24 hours. In contrast, Avalanche is priced at <a href="https://coinmarketcap.com/currencies/avalanche/" target="_blank" rel="noopener noreferrer nofollow">$32.05</a> with a 24-hour trading volume of $398,230,035, showing a slight decrease of 0.07% in the same period.
<figure class="wp-block-image"><img decoding="async" src="https://lh7-us.googleusercontent.com/docsz/AD_4nXcRqiNs850j1-HbO0jRC-SN0ILU6Wp_TsGiwZXX3QQP-75WNj2DsLHo-clb30k1WXH4l5jXUYvn3rhoX_DsbRssKY2CIJ2_ajbET2hYXlXB-SimYLwD6RoS06KEC7ulfyk3Nykp8SKQ6KZqlUNnL3nlcrI?key=bH6LWUzaET653zf9b-HaKQ" alt="">
</figure>
AVAX vs. SHIB 1-day price chart (Source: <a href="https://coinmarketcap.com/currencies/avalanche/" target="_blank" rel="noopener noreferrer nofollow">CoinMarketCap</a>)
Despite a recent series of declines, Shiba Inu has seen a notable increase in its burn rate. Over the past week, its price has fallen by 6.8%, affecting its monthly returns. However, the Shiba Inu community has demonstra…
The post <a href="https://coinedition.com/shiba-inus-surprise-flip-whats-behind-the-meme-coins-market-cap-surge/" rel="noopener noreferrer nofollow">Shiba Inu’s Surprise Flip: What’s Behind the Meme Coin’s Market Cap Surge?</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

Shiba Inu’s Surprise Flip: What’s Behind the Meme Coin’s Market Cap Surge?

Coin Edition

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