The Gods Tips - Investing and Stock News
No Result
View All Result
  • Investing
  • Stock
  • Editor’s Pick
  • Economy
  • Bitcoin
  • Investing
  • Stock
  • Editor’s Pick
  • Economy
  • Bitcoin
No Result
View All Result
The Gods Tips - Investing and Stock News
No Result
View All Result
Home Bitcoin

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

by
January 25, 2023
in Bitcoin
0
Shiba Inu Declines 6%, Gets Flipped By Litecoin In Market Cap Again
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

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:

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.

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%.

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.

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.

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.

Previous Post

TRON As Currency: Kingdom Of The Netherlands To Adopt TRON As Legal Tender

Next Post

Davos and the Holy Grail of Equity

Next Post
Davos and the Holy Grail of Equity

Davos and the Holy Grail of Equity

  • Trending
  • Comments
  • Latest
Colorado Masterpiece Cakeshop owner loses appeal over gender transition cake

Colorado Masterpiece Cakeshop owner loses appeal over gender transition cake

0
Steady PutWrite 2022 Year In Review

Steady PutWrite 2022 Year In Review

0
How Much Do You Need to Start Trading Options?

How Much Do You Need to Start Trading Options?

0
Options Strategies for Small Accounts

Options Strategies for Small Accounts

0
Colorado Masterpiece Cakeshop owner loses appeal over gender transition cake

Colorado Masterpiece Cakeshop owner loses appeal over gender transition cake

January 27, 2023
Connecticut Gov. Lamont calls for more gun bans, higher buying age

Connecticut Gov. Lamont calls for more gun bans, higher buying age

January 27, 2023
Biden growls at the high costs of insulin for people not on Medicare

Biden growls at the high costs of insulin for people not on Medicare

January 27, 2023
Indiana Senate supports constitutional change on bail rights

Indiana Senate supports constitutional change on bail rights

January 27, 2023
Enter Your Information Below To Receive Free Trading Ideas, Latest News, And Articles.


Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Recent News

Colorado Masterpiece Cakeshop owner loses appeal over gender transition cake

Colorado Masterpiece Cakeshop owner loses appeal over gender transition cake

January 27, 2023
Connecticut Gov. Lamont calls for more gun bans, higher buying age

Connecticut Gov. Lamont calls for more gun bans, higher buying age

January 27, 2023
Biden growls at the high costs of insulin for people not on Medicare

Biden growls at the high costs of insulin for people not on Medicare

January 27, 2023
Indiana Senate supports constitutional change on bail rights

Indiana Senate supports constitutional change on bail rights

January 27, 2023
  • About Us
  • Contact Us
  • Email Whitelisting
  • Terms and Conditions
  • Privacy Policy
  • About Us
  • Contact Us
  • Email Whitelisting
  • Terms and Conditions
  • Privacy Policy

Disclaimer: Thegodstips.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.
Copyright © 2023 Thegodstips.com

No Result
View All Result
  • Investing
  • Stock
  • Editor’s Pick
  • Economy
  • Bitcoin

Disclaimer: Thegodstips.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.
Copyright © 2023 Thegodstips.com