© Reuters Shiba Inu Overtakes Solana For Crypto With Largest Market Cap- has taken over in rank fro largest coin according to market capitalization.
- SHIB expects an increase in value on DOGE’s birthday anniversary on December 6.
- SOL’s 8.75% supply is in possession of SBF’s bankrupt Alameda Research.
Shiba Inu has recently taken over Solana coin according to CoinMarketCap’s ranking for the largest cryptocurrency as per market capitalization. Moreover, there is a chance that this overtake may, in fact, be final due to a number of positive and negative triggers.
Currently, the difference between the values of both cryptocurrencies ranges from $70,000 to $80,000. However, both assets are running low on value. Moreover, the price triggers for both SHIB and SOL indicate contrasting circumstances.
For instance, SHIB which remains in close association with the popular meme coin is experiencing benefits from DOGE. Moreover, experts anticipate enhanced velocity and a pump in SHIB’s price on the occasion of DOGE’s incoming birthday on December 6.
Meanwhile, Solana is facing repercussions of exposure to Sam Bankman-Fried’s collapsed cryptocurrency exchange FTX and Alameda Research. In a recent turn of events, it was revealed that the SOL that was hoarded by the companies with the aim to salvage their balance sheet, was in fact not all sold off.
In addition, 46.8 million SOL, which represents 8.75% of Solana’s total supply in circulation, are still held and staked by the trading firm, Alameda Research. Uncertainty surrounds the possible downfall of the SOL in the event that the staking volume is increased,
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