Will ShibaInu flip Tron and breach the Top 10?
, SHIB’s price had risen by more than 20% and 9% over the last seven days and last 24 hours, respectively. At press time, it was trading at $0.00001089 with a market capitalization of over $6.4 billion, making it the 11th largest crypto.
One of the major driving forces behind this surge is undoubtedly the hype around Shibarium, which is expected to launch this month. A look at SHIB’s metrics suggested that its value might increase further. For instance, its exchange reserve was declining, meaning that the memecoin was not under selling pressure.Additionally, thanks to the price uptick, Shiba Inu’s MVRV Ratio shot up over the last few days. Another bullish signal was
’s Open Interest. As per Santiment’s chart, SHIB’s open interest was rising. A hike in the metric indicates that the on-going price trend will continue longer.TRX, which at press time was the 10th largest crypto, did not show bullish price action. CoinMarketCap’s data revealed that its price only moved marginally over the last few days. In fact, TRX and SHIB only had a difference of $500 million.flipping TRX seemed likely to happen in the days to follow.
also behaved similarly to the other two tokens, as its price shot up by 6% in the last 24 hours, trading at $594.63 at the time of writing.
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