Shiba Inu Now Earns A Top Spot At MetaMask Rankings
Release: 2024/12/17 11:04 Reading: 899
Shiba Inu Remains Popular Despite Market Volatility
Despite a recent slowdown in its rally, Shiba Inu (SHIB) continues to attract significant interest from market participants. MetaMask, a popular Ethereum wallet platform, has confirmed SHIB's strong showing in its rankings.
MetaMask Rankings
According to MetaMask, SHIB was the fifth most swapped token among its users last week. This ranking underscores the sustained interest in SHIB, particularly given MetaMask's extensive user base of over 30 million monthly users.
Recent Price Action
After a significant surge of over 98% following the U.S. election, SHIB's momentum has slowed. Last week, the meme coin saw a decline of more than 15%, dropping from $0.00003219 to $0.00002788.
Potential for High Returns
Despite the recent price fluctuations, some investors view SHIB as a potential high-return opportunity. While SHIB's November 2024 rally was impressive, it lagged behind market leader Dogecoin (DOGE), which surged by 220% during the same period.
Market Analysis
Market analysts believe SHIB is at a pivotal juncture, testing the upper thresholds of a long-term downtrend. The token could either initiate a substantial rally of up to 150% or face further declines, depending on whether it can overcome existing resistance levels.
Current Price
As of now, SHIB is trading at approximately $0.000027.
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