Shiba Inu now earns a top spot in MetaMask rankings, even as its current rally slows down.
MetaMask has confirmed that interest in Shiba Inu (SHIB) remains robust among market participants, even as the token experiences a consolidation phase.
Following a significant surge of over 98% after the U.S. election—rising from approximately $0.00001687 to around $0.00003343—SHIB’s momentum appears to be waning.
Last week, the meme coin saw a decline of more than 15%, dropping from an opening price of $0.00003219 to close at about $0.00002788.
Despite this downturn, SHIB continues to attract considerable attention, as evidenced by its ranking on MetaMask.
According to the popular Ethereum wallet platform, Shiba Inu was the fifth most swapped token among its users last week.
The other tokens rounding out the top five included Pepe Unchained (PEPU), Pepe (PEPE), Baby Doge (BabyDoge), and HEX (HEX), which occupied the top four spots, respectively.
SHIB’s presence in MetaMask’s rankings underscores the sustained interest from traders, particularly given the platform’s extensive user base of over 30 million monthly users.
Notably, Shiba Inu has now been featured in these rankings for three consecutive weeks, indicating a persistent level of engagement.
The ongoing interest in SHIB, despite its recent price fluctuations, suggests that some investors view it as a potential high-return opportunity.
While SHIB’s impressive rally in November 2024 was noteworthy, it still fell short compared to the performance of market leader Dogecoin (DOGE), which surged by 220% during the same period.
This discrepancy raises speculation that SHIB may possess untapped bullish potential.
Market analysts indicate that SHIB is currently at a pivotal juncture, testing the upper thresholds of a long-term downtrend.
According to one commentator, the token could either initiate a substantial rally of up to 150% or face further declines, depending on whether it can overcome existing resistance levels.
As of now, SHIB is trading at approximately $0.000027.
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Also Read: Shiba Inu Sees A Surge In Popularity Now Welcoming 7,548 New Wallets
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