The self-proclaimed Dogecoin killer posted an 8% worth enhance over the previous week, however its pump was much less spectacular than many different altcoins, and it misplaced its prestigious second spot within the meme coin sector.
Furthermore, a number of elements counsel Shiba Inu bears might quickly regain management.
Dropping Floor
The cryptocurrency neighborhood has lengthy accepted that Dogecoin (DOGE) is the largest meme coin by market capitalization, with SHIB as its essential rival. That development has held for years, however in the summertime of 2025, one other contender emerged and adjusted the sport.
The token in query is MemeCore (M), and its market capitalization lately soared to nearly $3.5 billion after a month-to-month worth achieve of round 35%. In the meantime, Shiba Inu climbed simply 3% over the identical interval, and its cap now stands at round $3.37 billion, making it the third-biggest meme coin and the Thirty fourth-largest cryptocurrency.
Recall that again within the day, SHIB ranked a lot larger, with its capitalization briefly pumping above $20 billion in 2024 and quickly exploding past $40 billion in 2021.
Additional Slip Forward?
Proper now, the hole between Shiba Inu and the fourth-largest meme coin (PUMP) seems important at round $1.3 billion, however some worrying indicators counsel the previous might take one other hit quickly.
The primary one is the waning Shibarium exercise. Final week, Shiba Inu’s group carried out “a small however helpful” replace for the layer-2 scaling resolution. Particularly, it refreshed its RPC itemizing within the Ethereum-lists/chains registry, and Chainlist now has up to date connection particulars. Nonetheless, the protocol nonetheless facilitates a negligible variety of every day transactions.
Subsequent on the listing is the rising quantity of SHIB tokens saved on crypto exchanges. CryptoQuant knowledge reveals the determine has risen to round 87.6 trillion, the best since early August. This means many buyers have deserted self-custody and moved to centralized platforms, growing instant promoting stress.
Shiba Inu’s seasonal efficiency is one other trigger for concern. September has been a predominantly poor month for the meme coin, with its valuation ending within the purple three out of 5 instances.
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