Shiba Inu Surpassed by Chainlink, May Drop Out of Top 20 list

Shiba Inu

Shiba Inu (SHIB), one of the famous meme coins, is going through a tough time. It slipped below Chainlink (LINK) in terms of how much it’s worth in the market, but it managed to get back above LINK for now. However, it’s a very close competition, and SHIB might no longer be in the top 20 cryptocurrencies soon.

Why SHIB’s Position Is Shaky?

Shiba Inu and Chainlink traded places briefly, but the small difference between them suggests that SHIB might lose its spot to LINK or others. To give you an idea, Dogecoin, another meme coin, is still strong at ninth place with a market value of $8.5 billion. SHIB’s value is at $4.268 billion right now, very close to Chainlink’s $4.252 billion. This means SHIB could drop out of the top 20, especially when you see that DAI, in 20th place, is worth $3.8 billion.

Source – CoinMarketCap

Shiba Inu had a great run in 2021, even going above Dogecoin in value for a while. But lately, it hasn’t been as impressive.

Why the Hype Around Shibarium Isn’t Helping?

Even though people were excited about the launch of Shibarium’s mainnet, Shiba Inu is struggling. The number of transactions on the Shibarium network dropped sharply to 15,000 on September 27, from over 200,000 on September 11. This tells us that even though people were excited about new things happening with SHIB, that excitement didn’t last, and the value hasn’t stayed up.

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So, right now, Shiba Inu’s future in the top 20 cryptocurrencies is uncertain. It faces strong competition, and people seem to be losing interest. We’ll have to wait and see if SHIB can bounce back and get back into the top ranks.

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Shiba Inu (SHIB), one of the famous meme coins, is going through a tough time. It slipped below Chainlink (LINK) in terms of how much it’s worth in the market,…

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