- ShibaInu (SHIB) has flipped Hedera (HBAR) in market capitalization, climbing to the 15th position amid rising trading volume and bullish momentum.
- The meme coin now eyes Stellar (XLM), trailing by just $100 million in market cap.
ShibaInu Makes a Bold Move in the Crypto Space
ShibaInu (SHIB) has once again captured the attention of the crypto community by flipping Hedera (HBAR) in market capitalization, now ranking 15th among the largest cryptocurrencies. This remarkable feat comes amid a general bullish wave sweeping across the crypto market, with SHIB showing significant upward momentum.
The dog-themed meme coin surged from a low of $0.00001476 to over $0.000015, recording a 3.13% gain in the past 24 hours. At its peak, SHIB traded at $0.00001607 before experiencing a slight correction. Despite this, the meme coin’s performance remains robust, with its market cap reaching an impressive $9.3 billion.
Volume and Market Cap on the Rise
SHIB’s strong performance is backed by increased trading volume and market participation. According to CoinMarketCap, the trading volume surged by 3.71%, totaling $595.15 million. This surge highlights the growing interest from SHIB holders and investors who continue to rally behind the asset.
The increased trading activity not only fueled SHIB’s price momentum but also cemented its position ahead of Hedera, whose market cap currently sits at $8.79 billion.
Can SHIB Flip Stellar (XLM) Next?
With SHIB’s current bullish trajectory, the next target could be Stellar (XLM), which currently holds the 14th spot with a market cap of $9.404 billion. The difference between SHIB and XLM is around $100 million, leaving SHIB within striking distance if the bullish sentiment continues.
Although XLM has shown a modest price growth of 0.25% compared to SHIB’s 3.13%, May’s historical data suggests that ShibaInu has the potential to make a significant leap. Historically, SHIB has recorded an average growth of 61% in May, hinting at the possibility of flipping XLM if similar gains are achieved.
Community Support Remains Vital
Achieving this milestone will require consistent community backing, especially from long-term SHIB holders who make up 78% of the community. Their continued support and increased trading volume are essential to maintaining SHIB’s upward trend and challenging XLM for the 14th spot.
As SHIB continues to push forward, the crypto community eagerly watches whether the meme coin can sustain its bullish momentum and make yet another historic move.
