SHIB, ADA, XRP Lag Behind Despite Strong Communities

• SHIB, ADA, and XRP failed to match the gains of top performers of their sectors.
• In the past 30 days, XRP dropped 5% while ADA surged only 4% while the broader market skyrocketed.
• SHIB, ADA, and XRP are trading at $0.00001666, $0.3486, and $0.5401, respectively.

Despite having large, supportive communities, Shiba Inu (SHIB), Cardano (ADA), and XRP have been unable to hold steady or gain in on the broader crypto market rally in the past week before crashing at the start of October.

All three blockchain projects have huge communities and performed extremely well in the 2021 bull run, but they haven’t recreated that success.

According to CoinMarketCap, XRP fell 5.02% in the last 30 days, while Shiba Inu (SHIB) gained 21.53% and ADA rose just 4.04% — all while many other digital currencies saw gains of 50% or more.

Despite these underwhelming returns, all three projects have made progress. Ripple, the company behind XRP, achieved a partial victory in the SEC lawsuit, and there is talk of an XRP ETF around the 2024 United States elections.

Read also : XRP Price Analysis: Bullish Signals Emerge for Ripple’s Token

On the other hand, Cardano is preparing for the Chang hardfork and other major upgrades including the drafting of the Cardano Constitution and Voltaire upgrade.

Meanwhile, Shiba Inu developers are planning to launch a decentralized autonomous organization (DAO), allowing the community to vote on future initiatives.

Underwhelming Performance Compared to Sector Leaders

Since October 2023, XRP is up only 5.02%, ADA is up 32.47%, and SHIB is up 128.24%. However, compared to the top performers in their sectors, it is clear that a large community and active initiatives do not guarantee strong price action for an altcoin.

At the time of writing, ADA is trading at $0.3486, down 88.76% from ATH; XRP is trading at $0.5401, down 86.02% from ATH; and SHIB is priced at $0.00001666, down 81.25% from its all-time high.