The launch of the TRUMP meme coin has significantly impacted the Shiba Inu (SHIB) market, drawing attention and capital away from established meme tokens. The TRUMP token's explosive debut, with a price surge of over 190% in just 24 hours, has overshadowed Shiba Inu, leading to a decline in trading volumes and investor enthusiasm for SHIB. This shift in focus has left SHIB holders concerned about the token's ability to maintain its previous momentum, as the market gravitates towards the new and more sensational TRUMP token.
The TRUMP token's rise has been fueled by its listing on major exchanges and its association with former President Donald Trump, capturing the market's attention and drawing capital from other meme coins like Shiba Inu. As a result, SHIB has experienced a notable decrease in demand, with its price retreating over the weekend. Despite Shiba Inu's efforts to expand its ecosystem and introduce new features, the immediate hype surrounding the TRUMP token has diverted traders' interest, causing a temporary setback for SHIB.
Shiba Inu's price has fallen by 1.84% today, trading at $0.000020, with a high of $0.000022 and a low of $0.000020.