Shiba Inu Continues To Struggle As Price Declines 17% In Past Week

Memecon Shiba Inu has continued to struggle this week as the crypto has lost 17% in value over the past seven days. Shiba Inu Continues To Decline As Whales Start Taking Profits DOGE’s cousin coin, SHIB, has been struggling this month as it tumbles down for a straight third week. Over the past seven days alone, the memecoin has lost more than 17% in value. In the month of October, Shiba Inu had an amazing rally even by crypto standards where at one point the crypto was up 1000% over the previous 30 days. During this rally, SHIB entered into the top ten crypto by market cap list for a while. And briefly, it even surpassed DOGE to claim the 8th spot on the list. However, since November began, the coin started to lose ground, and has since continued to decline. It wasn’t long until Shiba Inu fell below Dogecoin again, and soon after it also exited the top ten list entirely. Currently, SHIB is the number twelve crypto in terms of market cap. Here is a table that shows how it compares with DOGE: The gap between the two memecoins widens | Source: coinmarketcap DOGE has also seen loses recently, but they have been lesser than what SHIB has experienced. In terms of market cap, Dogecoin seems to be building a significant lead over Shiba Inu. Related Reading | Twin Peaks: Comparing The Two 2021 Bitcoin Tops The reason behind the coin’s recent downtrend may be the fact that whales have started to sell. As per ...