Shiba Inu (SHIB) Slides From ATH: Profit-Taking or Sell-off Underway?

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Shiba Inu (SHIB) has slid lower after soaring in early trading on Thursday, after briefly surging past the original memecoin Dogecoin to become the seventh largest cryptocurrency in terms of market cap. At the time of writing, SHIB/USD is trading around $0.000071, up by over 150% in the past week alone.

Conceived as the Dogecoin killer, Shiba Inu has certainly lived up to its name as its rally makes it one of the top 10 most valuable cryptocurrencies by market cap, moving from the 11th position to the eighth. It also went on to overtake other leading players in the market, including Polkadot (DOT) and USD Coin (USDC).

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