Account Info
Log Out
English
Back
Log in to access Online Inquiry
Back to the Top

Shiba Inu market cap rank pulls back to 13th place amid selling pressure

Meme coin Shiba Inu continues drifting lower from its all-time high of $0.00008 in October as "crypto markets are currently in a risk-off mode following the new highs made by bitcoin and ether [about] two weeks back," blockchain analytics firm Nansen told CoinDesk via written response.
SHIB tokens dip 10% to $0.000038 per coin intra-day.
Shiba's market cap of $20.7B falls from just over $40B towards the end of October, pulling its market cap ranking down to 13th place, with Crypto.com Coin just above at 12th, according to data from CoinMarketCap.
Perhaps the coin's decline is due to a rising number of wallets with substantial holdings that have reduced their SHIB positions recently, possibly due to taking profit, Nansen tells CoinDesk.
So-called whale transaction counts, the number of SHIB transactions valued at more than $100K, have been increasing since the start of November, which could imply a rise in near-term selling pressure, CoinDesk notes, citing data from Santiment.
Meanwhile, $Bitcoin (BTC.CC)$ and $Ethereum (ETH.CC)$ also drift lower.
$Dogecoin (DOGE.CC)$, the 10th largest crypto, extends losses and is down nearly 9% this week.
Previously, (Nov. 22) Shiba Inu tokens extend losses as retail frenzy eases.
Shiba Inu market cap rank pulls back to 13th place amid selling pressure
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only. Read more
1
3
1
17
+0
7
Translate
Report
59K Views
Comment
Sign in to post a comment