Tron (TRX) Surpasses Shiba Inu (SHIB) in Market Capitalization in a Notable Shift within the Cryptocurrency Market Rankings

Shiba Inu 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.

Shiba Inu (SHIB) has slipped one place in the cryptocurrency market rankings, now sitting behind Tron (TRX) at 12th place.

Tron Surges Past Shiba Inu in Market Cap Rankings

Tron has now surged past Shiba Inu in the cryptocurrency market rankings, evident from the latest data from CoinGecko. Tron ranks 11th with a market capitalization of $10.42 billion, while Shiba Inu follows closely behind at 12th place with a market cap of $9.899 billion.

Shiba Inu, the dogecoin-inspired meme coin, has maintained a strong presence in the market. However, despite being close to the top 10, Tron has managed to surpass SHIB in terms of market capitalization.

Cryptocurrency market shifts are influenced by various factors, including the performance of individual cryptocurrencies, changes in the broader market sentiment, and monetary policy uncertainties.

Shiba Inu Fell 9%

Shiba Inu prices fell as much as 9% on June 25, trading at $0.00001668 at press time. SHIB prices have also dropped by 16.13% in the last week and 29% over the previous 30 days.

Shiba Inu’s ecosystem has been expanding, with projects like Shibarium gaining momentum. Shibarium, the layer-2 scaling solution for Shiba Inu, has recently seen a significant spike in activity.

According to statistics from blockchain explorer Shibarium Scan, Shiba Inu layer-2 scaling solution Shibarium transaction fees increased by 388%, from 16.22 BONE on June 17 to 78.18 BONE on June 23.

This increase in transaction fees suggests higher network transaction demand, indicating more user activity and engagement with Shiba Inu-related applications and services.

Tron saw minimal losses of 0.49% in the last 24 hours, trading at $0.1194. Tron, a blockchain for decentralized applications, has been notching up milestones of late.

Recently, Tron’s total accounts have reached 239,304,736, exceeding 239 million. The Tron ecosystem has been developing rapidly and is making continuous efforts to decentralize the web.

News source：https://www.kdj.com/cryptocurrencies-news/articles/tron-trx-surpasses-shiba-inu-shib-market-capitalization-notable-shift-cryptocurrency-market-rankings.html

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