Shiba Inu

The popular meme token, <a href="https://coinedition.com/tag/shiba-inu-shib/" rel="noopener noreferrer nofollow">Shiba Inu (SHIB)</a>, has dropped a few positions on CoinMarketCap’s list of crypto project rankings according to market cap. At press time, the meme token is ranked number 15 on the list. This ranks it underneath Solana (SOL) at number 14 and just above TRON (TRX) at number 16.The drop in SHIB’s ranking follows after a 0.53% price drop in the meme token’s price, according to CoinMarketCap. As such, its market cap stands at approximately $5,056,015,977. Trading volume for the meme token has also dropped 35.13% over the last 24 hours, taking the total to $129,101,104.A key contributing factor to SHIB’s drop in ranking is that the number of SHIB tokens in supply continue to be reduced through the SHIB burn initiative. This, coupled with the poor price performance for the token means that the market cap of SHIB will drop significantly.<a href="https://coinedition.com/shib-now-ranked-as-15th-biggest-project-in-terms-of-market-cap/" rel="noopener noreferrer nofollow">See original on CoinEdition</a>

SHIB Now Ranked as 15th Biggest Project in Terms of Market Cap

Coin Edition

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