- SHIB outpaces BCH by over 32% in July’s price movement.
- SHIB trading volume nears BCH despite massive price per unit gap.
- Token burn boosts SHIB scarcity, driving investor demand and optimism.
Shiba Inu (SHIB) is rapidly gaining ground on Bitcoin Cash (BCH), narrowing the gap in market capitalization to just over $1.4 billion. As of July 22, SHIB holds a valuation of approximately $8.86 billion, compared to $10.35 billion for BCH. This momentum shift brings SHIB closer than it’s been in over a year to breaking into the top 17 rankings on CoinMarketCap.
The meme-inspired token has seen an impressive resurgence over the past two weeks, climbing 16% since July 10, while BCH has gained just under 7% in the same timeframe. That puts SHIB ahead by more than 32% in net performance this month thanks largely to renewed energy in the Ethereum ecosystem, which SHIB is closely tied to.
High Volume and Burn Activity Fuel SHIB’s Uptrend
Despite its fractional price of $0.00001523, SHIB’s 24-hour trading volume stands at $458 million, nearly matching BCH’s $527 million, which trades at $517.94 per coin. This highlights the strong liquidity and demand that SHIB continues to enjoy across major exchanges.
SHIB’s circulating supply sits at 589.24 trillion tokens, supported by ongoing token burns. Over 21.6 million SHIB have been removed from circulation recently. These deflationary mechanisms are helping bolster confidence among retail investors and long-term holders. In contrast, BCH’s circulating supply is 19.9 million coins, with a total cap of 21 million.
While BCH remains a legacy asset from Bitcoin’s fork era, SHIB’s speculative energy and active community engagement appear to be drawing in more capital. A shift in the leaderboard wouldn’t just be symbolic—it would signal a broader market preference for high-velocity, community-driven assets over slower-moving, older-generation coins.
If current trends persist, SHIB could overtake BCH in market capitalization in the coming days, potentially altering investor sentiment and reshaping capital flows within the crypto market’s top 20.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
