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Various phases of the crypto market include the rise and decline of various categories of tokens, and this is the case with meme coins such as Shiba Inu and Pepe at present. While a full-fledged meme market rally is pending, the consistent rise of the first token indicates the possibility of upcoming corrections.

Shiba Inu price attracts attention

The Shiba Inu price surged alongside that of Pepe to smash through a significant barrier represented by the 200-day Exponential Moving Average (EMA). Sustaining above this level is an entirely different topic, as the crypto market's interest in meme currencies is susceptible to transition to another category of tokens.

In recent months, this shift in fashion has been quite prevalent, with meme currencies, Artificial Intelligence (AI) tokens, and layer-2 (L2) tokens garnering the most interest. At one point, random tokens such as SUI and the recently shelved BALD project exhibited tremendous gains.

This demonstrates that retail investors are presently fixated on investing in top altcoin alternatives such as Cardano, Solano, XRP, etc. Since the long-overdue alt season has been repeatedly delayed, it appears that the window for the profits of other assets has opened.

In the case of Shiba Inu, however, a price decline may not be far off. The Market Value to Realized Value (MVRV) ratio indicates an impending potential reversal. The indicator that gauges investors' profits and losses recently reached the "danger zone" above 17%.

This sector is synonymous with profit-seeking, which is typically followed by corrections. If SHIB encounters a comparable circumstance, it will likely lose the support of the 200-day exponential moving average and fall below $0.0000090.

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