Is Shiba Inu about to lose to WIF?
Shiba Inu (SHIB) is the second largest meme coin in the market. But despite its status, the coin faces significant competition with the arrival of dogwifhat (WIF).
Are Shiba Inu Investors Going WIF?
Shiba Inu price action has been disappointing since the beginning of March. The altcoin has been in trouble before, and now dogwifhat is adding to the problems. Indeed, since the new sensation on the meme corners side is currently the third largest piece in its category. This, after an ascent in record time.
Although its market capitalization is only $4 billion, WIF already faces strong competition from SHIB, which has a market capitalization nearly four times larger. As a reminder, the latter amounts to 15.7 billion dollars. Over the last 24 hours, WIF trading volume is approximately $903 million. At the same time, SHIB recorded volumes of $972 million.
Price prediction: monthly lows are near
After recording a correction of over 15% in two days, SHIB price is close to falling below $0.000025. This support line has been tested several times in the past, making it quite important to cross.
Shiba Inu coin is likely to break down to test the $0.00002268 support level. Given the aforementioned conditions, this decline could extend beyond this crucial support level.
