The cryptocurrency market has recently cooled from the meme coin frenzy, with charts reflecting this downturn. As whales transferred large assets to exchanges, the meme coin season abruptly ended. Consequently, Shiba Inu (SHIB) no longer holds a spot in the top 10 cryptocurrencies by market cap, ceding its position to Avalanche (AVAX).
AVAX Reclaims 10th Position Amid Meme Coin Cooldown
With meme coins losing momentum, Shiba Inu's market capitalization fell behind AVAX, dropping out of the top 10. AVAX’s price surged 15% recently, outperforming many altcoins in correction. AVAX now holds the 10th rank with a $2 billion market cap lead over SHIB.
Meanwhile, SHIB has formed a triangle pattern on its price chart, suggesting a potential downward move. However, this signal awaits confirmation. Key levels to watch:
- Upside breakout: $0.00003695
- Downside support: $0.00003000
A daily candlestick close above or below these levels will confirm SHIB’s next trend.
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Potential Buying Opportunity for SHIB Investors
A dip to $0.00003000 could present a buying opportunity, potentially establishing a pivot point for the next upward rally.
Growing Exchange Support for Shiba Inu
Prominent SHIB advocate Leonidas highlighted a major development: Crypto.com now offers SHIB support akin to Bitcoin (BTC) and Ethereum (ETH). The exchange rebranded its mobile app, featuring SHIB alongside BTC in app stores (e.g., Google Play, Apple App Store). The app title changed from “Crypto.com – Buy BTC, ETH” to “Crypto.com – Buy BTC, SHIB.”
Leonidas remarked on this shift:
“True power and unseen governance appear to be arriving in unprecedented ways.”
FAQ: Shiba Inu vs. AVAX Market Dynamics
1. Why did AVAX replace SHIB in the top 10?
AVAX’s 15% price surge and stronger market capitalization displaced SHIB as meme coins lost investor interest.
2. What does SHIB’s triangle pattern indicate?
It signals consolidation, with a breakout above $0.00003695 or below $0.00003000 determining the next trend.
3. How significant is Crypto.com’s SHIB integration?
It reflects growing institutional recognition, placing SHIB alongside major cryptocurrencies like BTC and ETH.
4. Could SHIB re-enter the top 10?
Yes, if meme coin demand rebounds or AVAX faces a correction, SHIB may reclaim its position.
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5. What’s the long-term outlook for SHIB?
While exchange support is bullish, its trajectory depends on broader meme coin sentiment and adoption.
6. How does AVAX’s technology differ from SHIB?
AVAX is a scalable blockchain platform for decentralized apps, while SHIB is a meme-based token with ecosystem projects (e.g., Shibarium).