The popular meme coin Shiba Inu (SHIB) is going through one of the most dramatic periods in its history. According to CoinMarketCap, the asset is on the verge of losing its status in the top tier of cryptocurrencies, hovering near an exit from the top 30 projects by market capitalization.

As of mid-April, SHIB’s market cap stands at $3.42 billion, placing it 29th overall. However, the liquidity metric raises concerns: with $111.7 million in 24-hour trading volume, the token has already dropped to the 38th place.

Top cryptocurrencies by market cap, Source: CoinMarketCap

This divergence between “past glory” represented by market cap and actual interest displayed by trading volume highlights a weakening speculative driver…