Shiba Inu (SHIB), once a popular meme coin, is facing some tough competition from two major players in the CoinMarketCap ranking: Toncoin (TON) and Hedera (HBAR). Right now, SHIB is in 19th place with a market cap of $7.39 billion, right between TON at $7.80 billion and HBAR in the mix with $7.19 billion.
The tension here isn’t just a numbers game. Over the past 24 hours, SHIB dipped 2.14%, while TON slipped 0.78%, and HBAR managed a slight green candle at +0.50%. This difference in short-term direction might suggest some bigger changes are coming soon, as traders and investors think about risk and reward again.
Meanwhile, SHIB’s price action has been a bit of a roller coaster, to say the least. The token is hovering just above its year-to-date support around $0.0000125, after breaking below both its 50-day and 100-day moving averages, which is usually seen as a bearish sign, especially when broader momentum is thinning out.
The chart shows SHIB heading back toward its spring lows, with the 200-day moving average way above the price, showing how far it has come from its old highs.
Toncoin is showing more resilience in its structure despite the dip, while Hedera continues to slowly build upward pressure with less volatility and a slightly more stable pattern.
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In terms of volume, SHIB still pulls in some serious liquidity — $87.9 million in the last 24 hours — though that number is behind Litecoin and Bitcoin Cash. This suggests SHIB might be losing some of its appeal as a speculative investment in the short term.
The bigger picture here is that SHIB is still in the game, but the fight has moved to a different arena. It’s not just about meme culture anymore. It’s about survival in a mid-cap race that’s getting smaller, and every percent matters.
