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Shiba Inu Faces First Big Drama of 2024, Here’s What SHIB Holders Should Know

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Shiba Inu Faces First Big Drama of 2024, Here's What SHIB Holders Should Know
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In an unexpected turn of events for Shiba Inu (SHIB) enthusiasts, the renowned token has encountered its first significant challenge of 2024. On Jan. 1, SHIB slipped to the 17th spot on the list of the largest cryptocurrencies by capitalization, losing its coveted 16th position to the surging Internet Computer token (ICP).

The twist in the tale lies not merely in SHIB’s descent but in ICP’s remarkable performance over the past four weeks. Often considered a “godforsaken” token by some, ICP has defied expectations, registering an impressive growth rate of over 185%. This surge catapulted ICP’s capitalization to an impressive $6.1 billion, effectively displacing SHIB from its previous standing.

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Source: CoinMarketCap

While ICP soared to new heights throughout December, SHIB seemed to remain stagnant. The Shiba Inu token’s weekly performance exhibited a minimal spread, with a mere 3.5% difference between the closing and opening prices.

2024, but it’s 2021

The burning question on the minds of crypto enthusiasts is whether SHIB can stage a comeback and reclaim its former glory in the near future. However, the intrigue extends beyond this, with the dawn of 2024 witnessing a captivating face-off between two crypto market “stars” of 2021.

The clash between SHIB and ICP raises questions about the resurgence of old narratives in the world of digital currencies. This sudden battle marks the commencement of what could be an interesting chapter in the crypto saga of 2024.

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Harry is a crypto enthusiast and experienced trader with a track record of success. With a deep understanding of blockchain technology, he has analyzed market trends and identified profitable opportunities, resulting in impressive returns. Harry 's expertise lies in developing effective trading strategies that leverage the potential of cryptocurrencies. Through his articles, guides, and educational resources, he shares his insights and knowledge, helping individuals make informed trading decisions. With a keen eye for market patterns, Harry has navigated the volatile crypto landscape with confidence. Stay tuned for valuable perspectives and expert advice from Harry as he contributes to the Ailtra platform.
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