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SOL Flipped SHIB in Market Cap, Here’s What’s Happening

Published 2023-01-04, 01:30 p/m
© Reuters. SOL Flipped SHIB in Market Cap, Here’s What’s Happening

  • Solana (SOL) has flipped Shiba Inu (SHIB) in market capitalization.

  • On Wednesday, the price of Solana (SOL) increased by more than 13% in 24 hours.

  • The price spike has resulted in the liquidation of around $6.7 million worth of short positions.

Solana is now ranked 15th on the list of the top 20 cryptocurrencies, as shown by the prominent cryptocurrency reference portal CoinMarketCap. The Shiba Inu has dropped one position and is now ranked 16th, while the TRX from Tron is in 14th place.

The total market capitalization of SOL is now $5,025,148,157, while SHIB’s is at $4,533,581,557. There is also a significant gap in their trading volumes, though in this regard, SOL still maintains its lead over SHIB, which accounts for the second biggest meme currency. SOL’s $1,501,978,822 in trading volume compares to SHIB’s $102,269,372.

The post SOL Flipped SHIB in Market Cap, Here’s What’s Happening appeared first on Coin Edition.

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