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The Shiba Inu (SHIB) token is nearing a drop out of the top 30 cryptocurrencies by market capitalization for the first time in five years, as a key support level weakens and trading activity lags behind its market-cap ranking.
According to CoinMarketCap, as of mid-April SHIB’s market capitalization is $3.42 billion, which places it 29th overall. However, liquidity and trading interest are signaling greater pressure: with $111.7 million in 24-hour trading volume, the token has fallen to 38th place on that measure.
The gap between SHIB’s market-cap position and its lower ranking by trading volume suggests weakening speculative demand. The article frames this divergence as a sign that the factors that have kept SHIB in the spotlight for years are losing strength.
The current backdrop is described as being driven by three pressure factors, with the central issue being a confidence crisis among the “SHIB Army.” Over the past year, the token has lost more than 51% of its value, and the lack of major new marketing breakthroughs is reportedly contributing to retail holders shifting attention toward more active projects.
The article also notes that key opinion leaders have “suddenly turned their back on the project,” adding to the perception of reduced momentum.
While the article says it is premature to write SHIB off, it characterizes the coin as being in a “red zone.” It warns that if SHIB fails to hold the psychological $3 billion market-cap level, its position in the top 30 would likely be replaced.

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