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Cryptocurrency News Articles
Shiba Inu (SHIB) Tumbles by Over 3% in the Past 24 Hours, Making It One of the Worst-Performing Tokens
Sep 29, 2024 at 07:47 pm
This comes after a significant 34% rally, leaving holders to wonder if the dip is merely a correction or a sign of trouble.
Shiba Inu (SHIB) has seen a downturn of over 3% in the past 24 hours, making it one of the worst-performing tokens, according to CoinGecko data. This comes after a significant 34% rally, leaving holders to wonder if the dip is merely a correction or a sign of trouble.
Among the worst performers over the previous 24 hours are also Celestia (TIA), VeChain (VET), Quant (QNT) and Monero (XMR), which lost more than 3%.
SHIB Decline Follows Rally
Despite the sad price decline, Shiba Inu holders shouldn't be too worried. A healthy correction has probably occurred with the current price drop. In the aftermath of the second-largest meme coin's significant rally, some of its holders opted to cash out.
Shiba Inu's Rally Pushes Gains
With a whopping 34% gain over the past seven days, Shiba Inu is now among the top-performing cryptocurrency tokens.
Its unexpected gain put it ahead of every single top 100 stock on Friday. Inspite of its recent dip, it still managed to be the second-largest gainer this week, following closely behind a handful of its meme currency competitors. According to U.Today, the top two performers are Pepe with 37% and dogwifhat with 34.1%.
Meme Coin Competitors Outperform SHIB
Dogecoin, Shiba Inu's fiercest rival, has seen a jump of nearly 4% in the last day. Having surpassed SHIB in terms of performance, it is now the second most valuable cryptocurrency among the top 100.
The first position goes to Bonk (BONK), which has increased 4% in the last day.
Rival Coins Make Big Moves
XRP, the cryptocurrency linked to Ripple, is also among the top three, having had a price increase of 3.2%.
The Solana-based dogwifhat (WIF) and Pepe (PEPE) have both had gains of over 2%.
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