Shiba Inu Declines 6%, Gets Flipped By Litecoin In Market Cap Again

Shiba Inu has once again been flipped by Litecoin in terms of market cap as the meme coin has recorded losses of 6% in the past 24 hours. Shiba Inu Is Down More Than 6% Today The year 2023 so far has overall been a pleasant time for SHIB holders as the coin is up around 40% year-to-date.

Timeline of Litecoin, Shiba-inu

Litecoin price analysis suggests a downward movement to $85.00 The closest support level lies at $85.00 LTC faces resistance at the $90.00 mark The Litecoin price analysis shows that the LTC price action has fallen below the $87.50 support level as the bearish pressure increased.

The Shiba Inu coin technical Chart showcases a textbook example of a rounding bottom pattern. In theory, this U-shaped shape structure of the pattern represents the buyers taking trend control from the seller.

Shiba Inu community's confidence in the ecosystem and lead developers are rising as they await the Shibarium Beta launch. Telegram messages by developer Shytoshi Kusama and the Unification blockchain team indicate an increase in development activity as the anticipated launch of Shiba Inu's Layer-2 blockchain solution Shibarium comes near.

Blockchain data shows that a massive Ethereum ($ETH) whale with over $500 million in total assets has now accumulated over 18.8. trillion Shiba Inu ($SHIB) tokens since they started buying the meme-inspired cryptocurrency in July 2022.

Litecoin retested the bullish order block at $81.6 and bounced to trade at $88.6 at the time of writing. More gains are expected, and the zone of resistance at $104 can be reached soon.

Litecoin price analysis has been fairly volatile over the past few weeks, with the coin facing heavy selling pressure and dropping to lows of $89.14 today. Although the downtrend shows no signs of slowing down, there are still some key levels that could provide support for the coin.

The altcoin market has been following the major cryptocurrencies in their recent rally. Shiba Inu (SHIB) is one of those tokens that maintained a solid performance in the last week.

Shiba Inu's [SHIB] performance in the last 30 days seemed to have erased the memories of the memecoin's abysmal performance in 2022. During the said period, SHIB recorded gains of 37.06%.

The meme-inspired cryptocurrency Shiba Inu ($SHIB) is currently leading the “trending” charts on popular crypto aggregator websites after it was listed on one of South Korea's largest crypto trading platforms by volume.

The second most popular meme coin on the crypto market, Shiba Inu (SHIB), is about to launch its eagerly awaited layer 2 scaling solution Shibarium. While lead developer Shytoshi Kusama has repeatedly said in recent weeks that the launch date is not yet set but will be “soon,” he may now have leaked the beta launch date himself wrapped in a word puzzle.