Shiba

Shift

TRON

Shiba Inu

<figure>
 <figcaption>
 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
<a href="https://u.today/tron-trx-suddenly-jumps-11-here-might-be-reason" rel="noopener noreferrer nofollow">Tron (TRX)</a> has surpassed Shiba Inu (SHIB) in market capitalization in a notable shift within the cryptocurrency market rankings.
<a href="https://u.today/108-trillion-shib-offloaded-to-major-crypto-exchange-whats-going-on" rel="noopener noreferrer nofollow">Shiba Inu</a> has maintained a strong presence on the market, with its vibrant community known as the "Shibarmy." However, its market cap of $9.899 billion, while impressive, now places it just behind Tron.
Tron now holds the position as the 11th largest cryptocurrency with a market cap of $10.42 billion. Meanwhile, Shiba Inu now sits in 12th place, with a market cap of $9.899 billion.
The market shift comes amid a broader drop on the cryptocurrency market partly caused by monetary policy uncertainties, including concerns about the Federal Reserve's ability to cut interest rates fast from a two-decade high. <img alt="CoinMarketCap" data-entity-type="file" data-entity-uuid="b8889cae-83ac-46f9-ade7-2f99521fc31e" src="https://u.today/sites/default/files/inline-images/24062024%201111_0.PNG"><a href="https://coinmarketcap.com/" rel="noopener noreferrer nofollow">Crypto Market Rankings, Courtesy: CoinMarketCap</a>
Shiba Inu fell as much as 9%, trading at $0.00001668 at press time. Shiba Inu prices have likewise dropped by 16.13% in the last week and 29% over the previous 30 days. Conversely, Tron fell 0.49% in the last 24 hours to $0.1194 and is still up 2% weekly.
Tron, a blockchain for creating decentralized applications, has been gaining momentum of late. In the most recent milestone, TRON’s total accounts have reached 239,304,736, exceeding 239 million. TRON ecosystem has developed rapidly and continues to make efforts to decentralize the web.
Shiba Inu's ecosystem has also been growing, with projects such as Shibarium gaining traction.
Shibarium, the layer-2 scaling solution for Shiba Inu, has recently seen a considerable spike in activity, as evidenced by a dramatic increase in transaction fees and a big increase in new transactions.
Shibarium transaction fees increased by a whopping 388%, from 16.22 BONE on June 17 to 78.18 BONE on June 23, according to statistics from blockchain explorer Shibarium Scan. This increase in transaction fees implies higher network transaction demand, indicating more user activity and engagement with Shiba Inu-related applications and services.

Tron (TRX) Surpasses Shiba Inu (SHIB) in Fresh Market Shift

U_Today

Other articles published on Jun 24, 2024

Crypto investment products see $584M outflow as Bitcoin descends to $60K

Dogwifhat falls out of top 50, tumbles 38% over past 7 days

Bitcoin on Track for $90,000 This Summer: Prepare for a Massive Rally

BlockDAG’s Game-Changing Dashboard and X1 App Launch: Outshining Solana and Bitcoin Cash with $53...

Pantera Capital: Solana is the ‘Mac OS’ of Blockchains

Recent BTC Price Drop Sparks Frenzy After Whales Are Accused of Price Manipulation

Join our free newsletter for daily crypto updates!