Shiba Inu (SHIB) Loses Place in Ranking With Chainlink, Possible Reasons

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Shiba Inu (SHIB) Loses Place in Ranking With Chainlink, Possible Reasons
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Shiba Inu (SHIB) flipped by Chainlink amid drawn-out consolidation

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions.

Chainlink, with its novel Cross Chain Interoperability Protocol , has been beating all bearish market odds to maintain a relatively promising outlook.Shiba Inu and Other Coins Can Now Be Traded Against PayPal's PYUSD Stablecoin on Crypto.com, its Ethereum Layer-2 scaling solution through which it hopes to usher in lots of decentralized applications , whose adoption by the public can help drive the demand for SHIB in the near term.

Besides this key fundamental, SHIB is also a deflationary token that undergoes periodic burning of some of its circulating token supply. This metric, often construed as the , has positioned Shiba Inu as one of the altcoins with the fastest rate of decline, a trend that is adding to its potential growth in the near future.Godfrey Benjamin is an experienced crypto journalist whose main goal is to educate everyone around him about the prospects of Web 3.0.

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