Shiba Inu has observed a 3% decline during the last 24 hours and has been flipped by Polkadot in terms of market cap as a result.

Shiba Inu Rally Halts As Meme Coin Drops 3% In Value

Since the year 2023 started, SHIB has enjoyed an overall upwards trajectory, as the meme coin’s holders are almost 74% in the green in year-to-date (YTD) returns. The past week has been especially great for the asset, but it would appear that the coin has pushed the brakes in the last couple of days.

At the time of writing, Shiba Inu is trading around $0.00001401, down 3% in the last 24 hours. The below chart shows the trend in the price of the cryptocurrency over the last month.

As you can see in the graph, Shiba Inu has mostly been either moving up or sideways during the past month. There have been …