• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
No Result
View All Result
Breaking News: Dogecoin Surges 6% After Elon Musk Unveils Crypto Payment Master Plan
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
No Result
View All Result
NewsBTC
No Result
View All Result
Breaking News: Dogecoin Surges 6% After Elon Musk Unveils Crypto Payment Master Plan

Shiba Inu Declines 6%, Gets Flipped By Litecoin In Market Cap Again

Hououin Kyouma by Hououin Kyouma
6 days ago
in Shiba Inu
Reading Time: 3 mins read
Advertisement

Shiba Inu has once again been flipped by Litecoin in terms of market cap as the meme coin has recorded losses of 6% in the past 24 hours.

Shiba Inu Is Down More Than 6% Today

The year 2023 so far has overall been a pleasant time for SHIB holders as the coin is up around 40% year-to-date. But in the past day, the market hasn’t been so kind on the meme coin as its price has observed some significant decline.

At the time of writing, Shiba Inu is trading around $0.00001132, down 6% in the last 24 hours. Here is a chart that shows the trend in the price of the asset over the past month:

Get 30 FREE SPINS at Punt Casino - NO DEPOSIT REQUIRED! Start Playing Now.
No Deposit 40 FREE SPINS at Wild.io on SIGN UP. Wheel of fortune, daily bonuses, 10 BTC in prizes monthly! Start Playing Now!

Bitcoin Price Chart

The value of the crypto seems to have sharply risen during this period | Source: SHIBUSD on TradingView

As can be seen in the above graph, Shiba Inu caught an upwards momentum in the first week of this month and continued to rapidly rise until forming a local top above the $0.00001270 level around a week ago. In the days that followed, however, the coin mostly displayed a sideways movement, until today came around and the asset plunged.

Related Reading: Bitcoin Price Just Saw Technical Correction But Key Uptrend Support Intact

Over the last seven days, SHIB is now down around over 8%. For comparison, rival coin Dogecoin has only seen a decline of less than 2% in this period, while Bitcoin has observed decent profits of almost 7%.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?

One question arises here: why did Shiba Inu see such a drop? According to crypto whale tracker service WhaleStats, the DOGE-cousin coin has been the most traded token among the top 100 Ethereum whales today:

📰 JUST IN: $SHIB @Shibtoken flipped $NMR for MOST TRADED token among top 100 #ETH whales

Check the top 100 whales here: https://t.co/N5qqsCAH8j

(and hodl $BBW to see data for the top 5000!)#SHIB #NMR #whalestats #babywhale #BBW pic.twitter.com/WnD70M3mVj

— WhaleStats (tracking crypto whales) (@WhaleStats) January 25, 2023

While high trading activity from whales can sometimes have a bullish effect on the price, as it may be a sign of accumulation from them, today’s movements from this cohort may actually have been done with the purpose of selling instead, which would provide an explanation behind the decline in the crypto’s price.

Related Reading: Repeat Of April 2019? Bitcoin Rally Shows Similar Break Above These Key Levels

Nonetheless, the 500 largest ETH whales were still holding onto more than $600 million worth of SHIB as of yesterday, so even with some short-term selling today, this cohort might have some large long-term positions still set up.

🐳 The top 500 #ETH whales are hodling

$606,186,035 $SHIB
$149,861,656 $BEST
$87,204,580 $LOCUS
$82,520,983 $MATIC
$70,925,015 $BIT
$68,961,547 $LINK
$64,312,686 $QNT
$62,585,574 $UNI

Whale leaderboard 👇https://t.co/tgYTpOm5ws pic.twitter.com/5EWZ77PN4k

— WhaleStats (tracking crypto whales) (@WhaleStats) January 24, 2023

Litecoin Has Flipped SHIB In Market Cap Again

Litecoin and Shiba Inu have been fierce rivals on the list of the top cryptocurrencies by market cap in recent weeks, with both coins getting a chance to take the lead at a few different points.

With SHIB’s most recent drawdown, LTC has once more overtaken the meme coin as its decline hasn’t been as sharp. The below table shows where the two coins stand in the wider crypto sector right now.

Shiba Inu Vs Litecoin Market Cap

Looks like SHIB has a market cap of $6.2 billion now | Source: CoinMarketCap

From the table, it’s visible that Shiba Inu has now dropped to being the 14th largest crypto in terms of market cap, while Litecoin has moved up to the 13th position.

The coin just below SHIB is the stablecoin Dai, and it’s not too far off from the meme coin’s market cap. This means that if SHIB continues to decline, it may quickly fall down to the 15th spot.

Featured image from Ferhat Deniz Fors on Unsplash.com, chart from TradingView.com
Tags: LitecoinLitecoin Market CapltcSHIBShiba InuShiba Inu Market CapSHIBUSD
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Hououin Kyouma

Hououin Kyouma

Loves to write, enthusiastic about cryptocurrency. Currently studying Physics at university.

Related Posts

Shiba Inu SHIB

Shiba Inu (SHIB) Is Up 4% As Lead Dev Teases Exact Beta Launch Date

2 weeks ago
BONE

Shiba Inu’s BONE Bags New Listing As Token Surges 14% In 7 days

2 weeks ago
This Australian Crypto Exchange Lists LUNC, SHIB And APE Coin

This Australian Crypto Exchange Lists LUNC, SHIB, And APE Coin

2 weeks ago
Shiba Inu SHIB

Shiba Inu Price Jumps By 21%, Here’s Why

2 weeks ago
Shiba Inu

What’s Next For Shiba Inu As Price Remains Stuck Below $0.000011?

2 weeks ago
Shiba Inu Coin

Shiba Inu Devs Set To Unveil Shibarium L2 Network Beta

2 weeks ago

Premium Partners

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Metaspins

Metaspins

Review · Visit
Trust Dice

Trust Dice

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
Coinplay

Coinplay

Review · Visit
mBit

mBit

Review · Visit
Vave

Vave

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit
Coinplay

Coinplay

Review · Visit

Real-World Gaming Village: How Undercity is Changing VR Gaming Forever

January 31, 2023

“Gold has been the best performing investment asset over the last two decades”: an interview with Easygold

January 30, 2023

The Crypto Dream Team: Binance Coin (BNB), Polygon (MATIC) and Orbeon Protocol (ORBN)

January 30, 2023

Polygon (MATIC) and Fantom (FTM) Are Losing Favor With Investors As They Turn To Snowfall Protocol (SNW) For 1000x Potential Gains!

January 30, 2023

Tezos (XTZ) shares its 12th protocol upgrade, Twitch Co-Founder’s Gaming NFT Marketplace Expands to Polygon (MATIC) Network while Snowfall Protocol (SNW) Breaks Record Highs

January 30, 2023

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Links

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2022 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play Games
  • Play Casino Games

© 2022 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.