Shiba Inu, one of the biggest meme coins, became one of the worst performing tokens over the past 24 hours after losing more than 3%, according to CoinGecko Data.
It is in red along with several other tokens such as Celestia (TIA), VeChain (VET), Quant (QNT) and Monero (XMR).
However, Shiba Inu holders need not worry about this unfortunate price drop. The recent price drop is most likely a healthy correction. Some holders of the second largest meme coin decided to take profits following the huge rally experienced by the second largest cryptocurrency.
Over a period of seven days, Shiba Inu was actually one of the best performing cryptocurrency tokens having added an impressive 34%. In fact, he was ahead of the entire top 100 on Friday due to a surprising rally. Despite the recent decline, the coin was still the biggest gainer during the week, trailing only some of its rival meme coins. Pepe (37%) and dogwifhat (34.1%) lead the pack.
Meme coin leader
Meanwhile, Dogecoin, Shiba Inu’s main rival, has surged more than 4% over the past 24 hours. Now it has stolen SHIB’s thunder and become the second best performing cryptocurrency in the top 100.
Bonk (BONK) is in first place with a 4% surge over the last 24 hours.
Ripple-affiliated cryptocurrency XRP is also in the top 3 with a price increase of 3.2%.
Notably, Solana-based Pepe (PEPE) and dogwifhat (WIF) rose more than 2%.
