Meme coin Shiba Inu (SHIB) presently occupies ninth place by market capitalization, racing forward of Cardano.
The meme meme coin is valued at $16.4 billion after including 9.2% over the previous week.
It’s now respiration down the neck of archrival Dogecoin, which is presently in eighth place.
Following Shiba Inu’s latest value spike, 67.07% of all addresses are presently within the cash although SHIB remains to be down as a lot as 67.7% from its present all-time excessive which was logged in October 2021. That is the most important proportion of holders within the cash since March.
The second-largest meme cryptocurrency has managed to document substantial good points regardless of slowing Shibarium exercise. On Could 30, it recorded almost 13,000 transactions after failing to break above the ten,000 mark for greater than every week.
Is the meme coin season over?
After recording huge good points, main meme cash have now skilled important losses.
As an example, each Dogecoin and Shiba Inu are down greater than 3%.
Pepe (PEPE) and Floki (FLOKI) have crashed 9% and 11%, respectively.
In the meantime, Solana-based Bonk is the highest laggard amongst meme cash
The latest downturn comes after quite a few movie star meme cash confronted rip-off accusations.
In the meantime, the U.S. Securities and Change Fee lately issued an investor alert that particularly warns about pump-and-dump schemes that contain meme cryptocurrencies.