Shiba Inu (SHIB) Tops Memecoins Lists, But Is There a Reason to Worry?

Shiba Inu (SHIB) has always been one of the most explosive meme coins. It’s also home to one of the largest communities, perhaps the largest when it comes to meme coins in particular.

Now, the cryptocurrency seems to once again be amongst the most trending altcoins.

Based on data from CoinMarketCap, Shiba Inu (SHIB) is the most-trending cryptocurrency for the past 24 hours, and it tops other coins like Bitcoin, Solana, PEPE, XRP, and so forth.

Unfortunately, in terms of price action, the situation doesn’t look so good. The cryptocurrency has pretty much traded flat for the past 24 hours, unable to capitalize on the slight gains that the market has made.

That said, the interest in SHIB trading has also been on the decline for the past day. Trading volumes across the board are down, resulting in a decrease of around 20% for the period.

As CryptoPotato reported earlier, SHIB was listed on an Australia-based cryptocurrency exchange called GroveX, alongside other ecosystem tokens like BONE.

Perhaps the SHIB price could be in for an increase at some point in the near future. Recently, the project’s marketing strategist shared a few very important developments that are upcoming, and they might serve as a catalyst for the price as well.

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