Let's talk about the current market capitalization of Shiba Inu

lupafilotaxia

Published: 16 Apr 2023 › Updated: 16 Apr 2023 Let's talk about the current market capitalization of Shiba Inu

Let's talk about the current market capitalization of Shiba Inu

Hello back to all of you, the weekend closing has arrived and with it I will be sharing content related to the true fact of how Shiba Inu (SHIB) surpasses Binance USD stablecoin (BUSD) in market capitalization.

According to information shared on the "Investing" portal and supported by data socialized by "BeInCrypto", Shiba Inu's market cap increased to $6.96 billion during the first few hours of trading today before pulling back to its current $6.81 billion.

Within the fundamentals socialized in the aforementioned article SHIB's market cap increase coincided with the meme cryptocurrency outperforming the broader market over the past 24 hours.

It was possible to read that the total market capitalization of cryptocurrencies decreased by 0.3% in the previous 24 hours, and major assets such as Bitcoin, Ethereum, Dogecoin and XRP lost part of their gains.

According to available data, the total number of Puppynet connected wallets increased to 6 million from 4.05 million this weekend. In addition to that, the network's transaction volume has also surpassed 3.2 million at the close of this edition.

It is important to highlight, that the high rate of activity on Shibarium is good for the token, as it has led to a higher burn rate of SHIB. According to Shibburn, about 1.9 billion SHIB tokens have been burned in the last seven days.

To close from my perspective, what has been happening with SHIB is precisely because of its well thought out burning system, since as highlighted this is one of the factors driving the price of the cryptocurrency.

SOURCES CONSULTED

Investing Shiba Inu (SHIB) surpasses Binance USD stablecoin (BUSD) in market capitalization. Link

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Written by lupafilotaxia

University Professor of Agricultural Botany │STEMsocial team Member │Collaborator of the Biology area of STEM-espanol

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Let's talk about the current market capitalization of Shiba Inu