Sui, a new market entrant, is doubling down on its attempt to surpass Shiba Inu in the crypto ranking, as its market cap recently hit a new milestone.
As Shiba Inu (SHIB) regains bullish momentum following a significant correction last week, another market rival is closing in on the meme coin. With market cap being a crucial determinant in the crypto ranking, SHIB has dropped three places in the past month. However, a new market entrant is quickly rising through the ranks, threatening to surpass SHIB.
According to the latest market data, SUI (SUI) is now less than $400 million away from flipping Shiba Inu in the market cap ranking. As of press time, SUI is valued at $13.42 billion, while SHIB stands at $13.84 billion in the market cap ranking.
If SUI manages to surge less than 2% to $4.67, it will officially surpass Shiba Inu in the market cap ranking. This scenario will only play out if SHIB remains at the current valuation and does not rise alongside the market.
With SUI set to hit an all-time high and SHIB facing increasing selling pressure, the market dynamics could lead to an interesting shift in the crypto ranking. Stay tuned for updates.
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