Shiba Inu (SHIB) Overtakes Cardano (ADA) in Market Capitalization
Shiba Inu (SHIB) has surpassed Cardano (ADA) in market cap, now valued at $16.9 billion. SHIB's price has surged by 16% in the past 24 hours.
Shiba Inu (SHIB), a meme cryptocurrency, has surpassed Cardano (ADA) in market capitalization. According to CoinMarketCap, SHIB is valued at $16.9 billion, while ADA stands at $16.5 billion.
The price of SHIB, the second-largest meme coin, has surged by over 16% in the past 24 hours, significantly outperforming other major cryptocurrencies.
In comparison, Dogecoin (DOGE), currently ranked eighth by market capitalization, has seen a modest 2.4% increase.
Smaller meme coins are also experiencing significant rallies. Solana-based Dogwifhat (WIF) has surged by 21.4%, outpacing SHIB. Floki (FLOKI) and Bonk (BONK) have also achieved double-digit gains. Pepe, with a 1.1% increase, is an outlier but has still added 18% over the past week.
As previously reported by U.Today, Shiba Inu (SHIB) briefly surpassed Dogecoin (DOGE) by market cap in October 2021. Whether SHIB can repeat this achievement remains uncertain, with a $7 billion gap still separating the two rival meme coins.
Despite the recent price surge, SHIB is still down 66% from its peak on Oct. 28, 2021.
According to data from IntoTheBlock, 70% of SHIB holders are currently profitable. Additionally, 76% of SHIB holders have owned the cryptocurrency for over a year.
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