SHIB Market Cap Drops 3 Times More Than Its Price, But Why Is It Good Thing? - BitcoinEthereumNews.com
Shiba Inu market cap decline is more dramatic than its price drop, but it is not really bad signal Ayon sa pinakabagong TradingView data, the capitalization of Shiba Inu as of today is down by more than 5.5%, while the price of SHIB coin itself suffers a decline of three times less, at around 1.8%. Thus, at the time of writing, the capitalization of the project is $6.01 billion, and the price of SHIB is $0.000011 per coin. Nevertheless, such a large gap in the decline should not upset the fans and holders of the much-loved memecoin, which in the opinion of many in the #ShibArmy should not be considered a memecoin anymore. This is especially true against the background of the large-scale use of the coin as a means of payment and its pagsasama-sama into the ranks of payment systems. Source: TradingViewSo why is this good news? Market capitalization, to put it simply, is a product of the number of coins circulating and the price of each of them. With a certain precise number of coins, one would expect the capitalization and price of a coin to move the same way. However, Shiba Inu is not such a simple project, as the number of