$TRUMP Surpasses Shiba Inu (SHIB) by Market Capitalization, Shytoshi Kusama Says This Achievement Is Temporary

The cryptocurrency market witnessed an unexpected shift as $TRUMP, a token associated with the U.S. President-elect Donald Trump, surpassed Shiba Inu (SHIB) by market capitalization.

In a surprising turn of events, a cryptocurrency token named $TRUMP, which is linked to U.S. President-elect Donald Trump, has managed to surpass the popular meme coin Shiba Inu (SHIB) in terms of market capitalization.

According to data from CoinGecko, at one point during the inauguration eve, $TRUMP was positioned 15th, boasting a market cap of $13.83 billion, while SHIB was ranked 17th with a market capitalization of $12.79 billion.

A crypto enthusiast highlighted this achievement on Twitter, celebrating the remarkable milestone attained by the president-elect's crypto token.

$TRUMP launched on January 18, and in less than 48 hours, it has become one of the most prominent digital assets in the crypto market. At press time, it is also ranked fourth in trading volume, following Ethereum, Bitcoin, and USDT.

Trump has been a known supporter of cryptocurrencies and even accepted crypto donations during his campaign. With his cryptocurrency dominating the market, crypto investors were optimistic that his administration would favor the market.

Shiba Inu’s lead developer acknowledges this achievement, congratulating the president-elect

SHIB’s lead developer, Shytoshi Kusama, also known as the "Burnt Shib," acknowledged this milestone, congratulating the president-elect. SHIB has been a long-standing favorite among meme coin investors, earning its reputation as the “Dogecoin killer.”

However, Kusama described this notable achievement as “temporary.” In his response, the developer said, “Wow, indeed. Congrats to the President of the United States for this temporary achievement.” His remark could suggest two possible scenarios.

Wow, indeed.

Congrats to the President of the United States for this temporary achievement.

— Shytoshi Kusama™ (@ShytoshiKusama) January 19, 2025

His statement could be a testament to SHIB's resilience and potential to bounce back in the future. The developers may have something up their sleeve to help SHIB regain its market dominance.

On the other hand, Kusama's comments might also hint at a negative aspect of crypto trading, where many meme coins tend to have a short lifespan at the top of the market, fading away once the hype surrounding them subsides.

$TRUMP’s market price experiences a steep decline

The fanfare surrounding $TRUMP did not last long, as the memecoin encountered a significant hurdle over the last two days, which has turned the prices negative on its chart. At the time of writing, $TRUMP is trading at $34, showing a 29% downtrend in the last 24 hours.

Nevertheless, its rapid ascent reflects strong community backing and excitement about the former president's involvement in crypto. The launch of the new administration could set the stage for a turnaround in the memecoin's fortunes.

: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.

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