Shiba Inu surpassed Tron’s TRX, Here is why?
The popular meme token Shiba flipped the popular Proof-of-stake Consensus-based Tron blockchain, in terms of 24 hours trade volume.
Shiba Inu is a token, not a coin. Initially, the Shiba Inu token was launched on the Ethereum blockchain network but now soon this token will turn into a coin because the Shiba Inu project team is developing a native blockchain Network (named Shibarium) to support high efficient transactions for the Shiba Inu token users. However, the Shiba Inu token will not be the core native token of Shibarium but will be supported officially.
According to the available data information at the Binance owned Cointracking website Coinmarketcap, the current global trading volume of the Shiba Inu token is $6.36 billion, which is high over the 24 hours trade Market Cap volume of popular Proof-of-stake (PoS) blockchain Network Tron (TRX).
It is worth noting that, Tron’s TRX is a real coin based on its own Tron blockchain but here Shiba is only a token that doesn’t have its blockchain network, so here we can assume that it is a good situation for this meme coin.
The reasons behind these sudden increments in its trade volume may be because of the ongoing partnership works.
On 20 July, the project team of Shiba Inu announced a partnership with prominent visualization studio, The Third Floor (TTF), to see TTF develop a virtual environment for the Shiba Inu Metaverse project. TTF supports the Marvel Cinematic Universe and the Star Wars franchise, which are highly popular in their respective fields of business. With such partnerships, the Shiba Inu project team is working to create the utility cases of Shiba Inu’s Metaverse project.
At the time of writing this article, the price of the Shiba Inu token is $0.00001159, which is 12% high over the last 30 days’ trade price.
Read also: Shiba Inu’s Welly released 15% earnings to ShibArmy
