$SHIB has been showing anemic performance for the last 23 days as meme coin rally avoids it
, once a shining beacon in the world of meme-inspired cryptocurrencies, seems to be stumbling. The digital asset, famous for its dog mascot and astronomical growth, has been in the midst of an anemic run for 23 consecutive days, marking a troubling period for its holders.
Simultaneously, it appears that old-gen meme coins like SHIB are falling out of favor. Investors are seemingly turning their attention toward the next generation of meme coins, such as those built on the Cardano network. This shift in focus is further diminishing the demand for SHIB, suppressing its price.
Despite making a commendable effort to overcome the $0.5 threshold, XRP's failure to sustain the momentum has become a source of concern for its investors. The $0.5 price point represents a significant level of psychological resistance, and the currency's inability to break through it suggests that a robust bullish trend may not be on the horizon.Interestingly, the price reversal at $0.5 coincided with a noticeable spike in trading volume.
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