Stellar (XLM) Skyrockets 6%—Set to Dethrone Shiba Inu in Market Race

Stellar (XLM) has staged a strong comeback in the crypto market, surging by over 6 percent within the last 24 hours. This price movement places it on a collision course with Shiba Inu (SHIB) in a tight race for market capitalization dominance.

According to CoinMarketCap data, the present value of XLM is $0.3242, meaning that it is up 5.89 percent. Its 24-hour trading volume has also grown 11.88 percent to $378.05 million. These high prices and trading activity reflect newfound confidence from traders and investors.

Market watchers had raised fears over XLM, finding it hard to break past the $0.3161 resistance level. However, the asset was able to break that barrier and create room for the good times if the current trend prevails. Its technical performance now provides a potential breakout, particularly when volumes continue high.

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A similar case is with Open Interest in XLM, which has also surged, upping the momentum surrounding XLM. According to CoinGlass data shows 13.93 percent growth in Open Interest, with more than $218 million in the pot on various exchanges. This means that traders are increasingly putting themselves in a position to benefit from further upward movement.

XLM Poised to Flip SHIB Amid Growing Market Momentum

Shiba Inu currently holds a market capitalization of $9.9 billion but has a slower growth rate of 4.64 percent. In contrast, Stellar’s 6.99 percent growth rate gives it a potential edge, especially if bullish sentiment continues to build. Market data suggests that if XLM maintains this pace, it could soon surpass SHIB in the overall rankings.

Whale activity is also gaining some interest, as Stellar keeps mimicking XRP. If large holders continue to add to their positions, the volume flood may soon propel XLM over SHIB, a fundamental change in market standings.

The competition between these two altcoins is heating up, with Stellar having the technical heft and increasing investor confidence in its corner. Unless the trend changes, SHIB may also soon be dethroned by XLM in a powerful market maneuver.

Stellar’s spectacular price rise, increased trading volumes, and increasing Open Interest have left it poised to rival Shiba Inu’s market position. As bullish signals match up, XLM seems primed to make a serious push to flip SHIB within the days ahead.

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