- Stellar (XLM) is gaining momentum with a 5.89% price surge and increased trading volume, positioning it to potentially overtake Shiba Inu (SHIB) in market capitalization.
- Strong investor confidence and rising whale activity further support XLM’s growth prospects.
Stellar (XLM), the well-known blockchain network rivaling XRP, is making significant strides that position it for a potential flip of Shiba Inu (SHIB) in market capitalization. Recent data suggests that XLM could soon overtake the dog-themed meme coin, thanks to three key metrics that showcase its growing strength.
Price Performance and Trading Volume Surge
Over the past 24 hours, XLM has demonstrated impressive price performance, surging by 5.89% to reach $0.3242. This price uptick was accompanied by an 11.88% increase in trading volume, totaling $378.05 million. Notably, XLM successfully overcame a critical volatility test, flipping the $0.3161 level and maintaining its upward momentum.
In contrast, Shiba Inu (SHIB) has shown relatively lower growth, with a 24-hour increase of 4.64% and a market capitalization of $9.9 billion. This slower growth rate puts SHIB at risk of losing its position to XLM if the latter maintains its current trajectory.
Investor interest in Stellar has surged, as evidenced by a 13.93% increase in Open Interest. CoinGlass data reveals that traders have committed a total of $218.50 million to secure 663.62 million XLM. This growing Open Interest suggests that market participants are confident in XLM’s potential for further gains.
Stellar Whale Activity Could Seal the Flip
Stellar’s price performance has mirrored XRP’s growth trajectory, making it a prime target for whale investors. If these large holders increase their activity, it could lead to a surge in trading volume, further boosting XLM’s price.
As XLM continues to show strong performance, its path to overtaking SHIB seems increasingly likely. Investors and traders will be closely watching whether XLM can sustain its momentum and achieve the flip in the coming days.