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The memecoin market has not made much bullish progress in the past three weeks.
A month ago, the meme coin market capitalization was $59.6 billion. As of the time of this writing, that number has dropped to $54.72 billion, indicating that the entire industry is moving sideways.
Shiba Inu [SHIB] has also been trading within a certain range since March.
In May, SHIB's breakout attempt failed, ultimately falling to the range low of $0.0000111. SHIB is not the only crypto token exhibiting range-bound fluctuations.
Even Bitcoin [BTC] is still fluctuating between $1,015,000 and $1,095,000.