This Cryptocurrency Just Surged Past Shiba Inu Today

A leader in the development of algorithmic stablecoins, Terra (CRYPTO: LUNA) is a token that's gotten a lot of attention of late. As of 10:45 a.m. ET, LUNA has surged 4.5% over the past 24 hours to a market capitalization of $24.8 billion. This week, Terra is up 53%, one of the best-performing large-cap tokens in the market.

Meme token Shiba Inu (CRYPTO: SHIB), on the other hand, is down again today. This token's daily decline of 6.8% as of 10:45 a.m. ET brings Shiba Inu's market capitalization down to $23.6 billion, one spot lower in the market capitalization rankings than Terra. This decline also wipes out most of this week's gains for the dog-inspired token.

Image source: Getty Images.

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Source Fool.com