Shiba Inu has tumbled by over 3% in the past 24 hours, making it one of the worst-performing tokens. This comes after a significant 34% rally, leaving holders to wonder if the dip is merely a correction or a sign of trouble.

Among the worst-performing tokens over the previous 24 hours, according to CoinGecko data, is Shiba Inu, one of the biggest meme coins, which lost more than 3%.

SHIB Decline Follows Rally

Celestia (TIA), VeChain (VET), Quant (QNT), and Monero (XMR) are among the other tokens in red.

Despite the sad price decline, Shiba Inu owners shouldn't be too worried. A healthy correction has probably occurred with the current price drop. In the aftermath of the second-largest meme coin's significant rally, some of its holders opted to cash out.

Shiba Inu's Rally Pushes Gains

With a whopping 34% gain over the past seven days, Shiba Inu is now among the top-performing cryptocurrency tokens.

Its unexpected gain put it ahead of every single top 100 stock on Friday. Its recent decline hasn't stopped it from becoming this week's top gainer, second only to a handful of its meme currency competitors. According to U.Today, the top two are Pepe with 37% and dogwifhat with 34.1%.

Meme Coin Competitors Outperform SHIB

Dogecoin, Shiba Inu's fiercest adversary, has seen a jump of nearly 4% in the last day. Having surpassed SHIB in terms of performance, it is now the second most valuable cryptocurrency among the top 100.

The first position goes to Bonk (BONK), which has increased 4% in the last day.

Rival Coins Make Big Moves

XRP, the cryptocurrency linked to Ripple, is also among the top three, having had a price increase of 3.2%.

The Solana-based dogwifhat (WIF) and Pepe (PEPE) have both had gains of over 2%.