Despite a 14.31% decline in the last 30 days, Toncoin (TON) has flipped dog-themed Shiba Inu (SHIB) in market capitalization ranking.
Toncoin (TON) has flipped dog-themed Shiba Inu (SHIB) in the market capitalization ranking despite a 14.31% decline in the last 30 days.
As of 08:15 ET on Tuesday, Toncoin is trading hands at $3.19, down 0.84% for the 24-hour period. The asset has not been able to reclaim $3.50 in the past month, testing lower support levels at $3.10.
According to CoinMarketCap data, the total market capitalization of TON is $7.9 billion, which is $130 million more than SHIB’s market cap of $7.77 billion.
Shiba Inu’s market has decreased by 2.07% to $7.77 billion in the last 24 hours.
Investors are watching the price outlook closely, as a fall below the crucial $3.10 support could see the asset plunge to $2.85.
If Toncoin records a bullish breakout and reclaims $3.50, its market cap could soar to $8.68 billion. This would see it flip the 14th-ranked Stellar (XLM), which currently has a market cap of $8.36 billion.
On the other hand, Shiba Inu saw a reversal in the last 24 hours, slipping from $0.00001343 to $0.00001316. The token’s trading volume also decreased by 27.62% to $119.94 million.
This marks a reversal from the recent surge when over 13 billion SHIB tokens stunned crypto exchanges. The price outlook caused the reversal, with analysts now looking for new breakout signals.
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