Shiba Inu (SHIB) Surges 45% in 7 Days & Overtakes Tron (TRX)
Popular cryptocurrency Shiba Inu (SHIB) overtook another popular coin, TRX, from the company TRON in the top by market capitalization from the portal CoinMarketCap. SHIB, traditionally referred to as a memecoin, showed an impressive seven-day increase in quotations by more than 40%, which helped Shiba Inu add another $2 billion to its capitalization. Thus, SHIB has a current capitalization of $6.4 billion and ranks 13th in CoinMarketCap's top.
Of course, the growth rate of more than 40% in seven days can definitely be considered a victory for SHIB, but it is worth noting that Tron's TRX might not receive its percentage growth and give up its place in the top due to recent events related to algorithmic stable coin USDD, issued by Tron DAO. Recall that USDD lost its peg to the dollar in mid-June in events seemingly similar to the Terra collapse. Nevertheless, Tron DAO and its head, Justin Sun, managed to stall the de-peg and quickly implement a plan to save the entire Tron ecosystem.
Of course, the growth rate of more than 40% in seven days can definitely be considered a victory for SHIB, but it is worth noting that Tron's TRX might not receive its percentage growth and give up its place in the top due to recent events related to algorithmic stable coin USDD, issued by Tron DAO. Recall that USDD lost its peg to the dollar in mid-June in events seemingly similar to the Terra collapse. Nevertheless, Tron DAO and its head, Justin Sun, managed to stall the de-peg and quickly implement a plan to save the entire Tron ecosystem.