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Despite the profit-taking that followed, Shiba Inu fiercely defended its rankings, remaining in 11th place throughout.Shiba Inu's drop in the rankings coincides with a larger market fall that has seen SHIB lose roughly 4% of its value in the last 24 hours. This fall follows profit-taking after the SHIB price reached a high of $0.00002684 during today's trading session. Earlier in the week, crypto prices rose on hints of progress toward U.S.
In recent weeks, specifically since mid-April, Shiba Inu's price has been constricted by the daily SMA 50 barrier. Shiba Inu consistently faced a battle surpassing this level; however, the bulls made a successful attempt on May 20 before confronting resistance. Conversely, Avalanche experienced a surge in value, climbing over 18% in the past week. This growth has propelled AVAX to overtake SHIB, with a current market capitalization of $15.6 billion compared to Shiba Inu's $14.8 billion, according toAs the market scenario unfolds, eyes will be on Shiba Inu to see if it can sustain its rise above the tough daily MA 50 barrier. Whether SHIB can reclaim its position orTomiwabold is a cryptocurrency analyst and an experienced technical analyst.
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