Shiba Inu’s Surprise Flip: What’s Behind the Meme Coin’s Market Cap Surge?

• Shiba Inu surpasses Avalanche in market cap, reaching $12.71B vs. $12.60B.
• Shiba Inu’s burn rate surges 2,814%, with 7.9 million tokens burned.
• Avalanche’s price drops 11%, despite ecosystem growth and partnerships.

Shiba Inu (SHIB) has overtaken Avalanche (AVAX) in market capitalization, marking a significant shift in the cryptocurrency rankings.

As of the latest data from CoinMarketCap, Shiba Inu’s market capitalization is $12.71 billion, slightly ahead of Avalanche’s $12.60 billion. This change has propelled Shiba Inu to the 11th spot in the market cap rankings, pushing Avalanche to 12th.

At press time, Shiba Inu was trading at $0.000022 , with a 24-hour trading volume of $786,592,387. The token is down 2.33% in the last 24 hours. In contrast, Avalanche is priced at $32.05 with a 24-hour trading volume of $398,230,035, showing a slight decrease of 0.07% in the same period.

AVAX vs. SHIB 1-day price chart (Source: CoinMarketCap )

Despite a recent series of declines, Shiba Inu has seen a notable increase in its burn rate. Over the past week, its price has fallen by 6.8%, affecting its monthly returns. However, the Shiba Inu community has demonstrated strong support by increasing the token’s burn rate by 2,814%.

Avalanche has been expanding its ecosystem with significant partnerships. VOTTUN recently integrated with Avalanche to support developers building on the platform, and Salvor initiated the Rush Preseason claim , which is expected to boost the demand and utility of AVAX.

Despite these positive developments, the price of Avalanche has dipped by 11% over the past week. After initially breaking above $36, it has fallen to $32, reflecting bearish momentum. To regain its value, Avalanche requires renewed interest from investors.