Shiba Inu About to Surpass Terra's LUNA After Double-Digit Price Spike

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Shiba Inu About to Surpass Terra's LUNA After Double-Digit Price Spike

Last Update: 2022-05-12

Meme coin Shiba Inu is a hair’s breadth away from surpassing Terra (LUNA) after a 10% spike

Shiba Inu About to Surpass Terra's LUNA After Double-Digit Price Spike

The two cryptocurrencies are in 14th and 15th places by market capitalization, respectively.   

Image by coinmarketcap.com

Image by coinmarketcap.com

Terra co-founder Do Kwon took to Twitter to announce that he was close to announcing a “recovery plan” for the embattled UST stablecoin, which recently lost its peg.

The tweet didn’t help to assuage investors’ concerns. The cryptocurrency keeps hanging near intraday lows at $25, collapsing by more than 70% within a week.

UST has so far failed to regain its peg, currently sitting at $0.9082 on the Bitstamp exchange.

SHIB, on the other hand, has managed to stage a pretty impressive comeback, spiking 11%. The token, however, is still down 18% in one week.

Source: https://u.today/shiba-inu-about-to-surpass-terras-luna-after-double-digit-price-spike

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