SHIB Among Worst-Performing Coins in Top 100, What’s Happened?

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As a seasoned researcher who has weathered numerous market fluctuations and witnessed the rise and fall of various digital assets, I must say that the recent performance of Shiba Inu (SHIB) is not an unusual occurrence. The crypto market is known for its volatility, and SHIB’s current dip seems to be a healthy correction after a significant rally.

In simpler terms, the digital currency known as Shiba Inu, which is well-known for its meme coin status, experienced poor performance over the last 24 hours by dropping by over 3%. This decline was confirmed by data provided by CoinGecko.

These coins, including Celestia, VeChain, Quant, and Monero, are all grouped together in the red category.

Don’t worry if you see a decrease in Shiba Inu prices. This dip might just be a normal adjustment, or correction, after some investors who hold the second-biggest meme coin chose to cash out their gains following a significant rally of the second-biggest digital currency.

Over a seven-day period, Shiba Inu stands out as one of the top-performing cryptocurrency tokens, having increased by a notable 34%. On Friday, it even surpassed the entire top 100 due to its sudden surge. However, after a recent dip, it remains the week’s most significant gainer, with only a few meme coin competitors outperforming it. Pepe (37%) and dogwifhat (34.1%) are currently leading the charge.

Meme coin leaders

Over the past day, Dogecoin, Shiba Inu’s main competitor, has risen by over 4%. Now, it’s outshining Shiba Inu as the second top performer among the leading group of 100 cryptocurrencies.

Bonk (BONK) is in the first place with a 4% spike over the past 24 hours.

Ripple-affiliated cryptocurrency XRP is also in the top 3 with a 3.2% price increase.

Notably, Pepe (PEPE) and Solana-based dogwifhat (WIF) are up by more than 2%.

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2024-09-29 13:23