The Shiba Inu crypto is getting tough competition from its rival tokens as SHIB stands at a precarious edge. Shiba Inu’s spiraling price performance, the one that keeps the token at the bottom of the pile, has now started to show effect, with SHIB falling in regular crypto rankings as well. Shiba Inu is currently at the #29 spot in rankings, with competitors like Cronos closing in to push SHIB out of the top 30 list.
Also Read: RaveDAO Rallies 2500%, Hits New All-Time High: Crash Soon?
Cronos Closing In On Shiba Inu?
Shiba Inu has been exploring the depths of new price lows, which has finally started to reflect in its current crypto rankings. Per CoinMarketCap, Shiba Inu currently stands at the #29 spot, sandwiched between competitors like Cronos and Toncoin. Both the tokens have been reflecting stable stats, with SHIB reflecting a slow price performance, which can push the token to swap places with Cronos, which is currently at #30 in CMC rankings.
SHIB currently ranks as the 29th largest cryptocurrency by market cap, with nearly $3.42B MC. Shiba Inu’s slow price performance has lately been taking a toll on the asset, with the token being down 53% in the last year. In contrast to this, Cronos boasts a market cap of $2.89B, sparking fears of the asset overtaking SHIB in rankings in due time.
Shiba Inu: Any Bright Prospects Ahead?
SHIB has been undergoing multiple intense price episodes, with bearish momentum weighing on the asset at large. However, analysts continue to issue bullish calls for SHIB, claiming that the token may be the first to bank on the bullish waves once the market gains its strength back. Shib accumulation, on the other hand, is also going strong, signaling the long-term investor interest in the asset.
Also Read: Oil Shock Sends Prices Above $105 While Google Searches Go Parabolic
