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Shiba Inu (SHIB) Flips Avalanche (AVAX) as Market Resets
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The digital currency ecosystem opened today to the news of Mt. Gox moving funds in a bid to start repaying its customers.
This news placed selling pressure on Bitcoin (BTC), dragging most altcoins along with it. Amid this slip-off, Shiba Inu (SHIB) has ridden the waves to flip Avalanche (AVAX) to become the 11th largest digital currency by market cap.
The market, irrespective of its outlook, is always pitting coins against one another. While this does not necessarily impact its community, it does introduce a temporary investor sentiment booster.
At the time of writing, Shiba Inu has seen a 0.62% drop in its price to $0.00002471, placing its market cap at approximately $14.59 billion.
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