Shiba Inu
Price Crash To $0.000022 Plunges 43%
Of Investors Into Losses
Shiba Inu Price Crash To $0.000022 Plunges 43% Of Investors Into Losses
by Scott Matherson
4 minutes ago
in Altcoin News , Shiba Inu
0
The Shiba Inu price has crashed below $0.000022, declining by more than 20% in
just one week. This massive crash has left 43% of SHIB investors facing
losses. Moreover, the recent drop in the Shiba Inu price comes alongside a
broader meme coin market decline , with top coins like Dogecoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Dogecoin, Pepe, and
Bonk also experiencing a price crash.
Investors In Loss As Shiba Inu Crashes Below $0.000022
The Shiba Inu price is struggling to maintain stability after experiencing
devastating declines recently . The meme coin’s fall to $0.000020 has been a
significant blow to its investors, marking one of the steepest declines in
recent months.
Related Reading: CMT-Certified Analyst Says The XRP Price Rally Still Has A
Long Way To Go
While many analysts had forecasted price surges for Shiba Inu , the meme coin
has instead been shedding gains. This downturn has been heavily influenced by
the broader bearish market conditions and the recent declines in Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin ,
which continue to weigh on the entire crypto market• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта.
For investors who entered the market during price highs, the recent crash has
been a sobering experience and a reminder of the crypto market• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта s
inherent volatility. Specifically, meme coins, known for their highly
speculative nature, are prone to erratic and sharp declines that typically
take the market unawares.
According to data from IntoTheBlock, 43% of Shiba Inu investors are at a loss,
while only 53% have seen profits. Additionally, ITB’s on-chain signals
indicate that Shiba Inu is mostly bearish , with key indicators like Net
Network Growth, large transaction volume, and concentration in the negative.
CoinMarketCap reports that Shiba Inu is on a downward trajectory , losing
12.6% of its value in the past 24 hours. Over the last week, the doggy-themed
meme coin plummeted by a staggering 25%, compounding its losses from the past
month, when it recorded a 15% decline.
Amidst the declining SHIB price, whales are also selling off their holdings
rapidly. Blockchain wallet tracker LoonOnChain revealed on X (formerly
Twitter) that an anonymous whale recently sold 250 billion SHIB valued at
$6.05 million. The whale had initially spent $3,800 to buy 15.28 trillion SHIB
as early as August 6, 2020, making gains of up to $109 million from his
investment.
Meme Coins See Sharp Decline; Analyst Calls Bottom
According to Bitfate on X, meme coins have entered the red zone this week,
with sharp declines driven primarily by panic selling among holders .
Coingecko has also disclosed that the meme coin market cap has experienced a
16% decline, spiraling down to $97.4 billion.
Related Reading: Dogecoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Dogecoin Price Action: What To Expect As The DOGE RSI Climbs
To 90% Once Again
Nick Garcia, a crypto analyst, has called a potential meme coin bottom,
highlighting that large-cap meme coins are currently lagging while mid-tier
cryptocurrencies• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта have seen one of the worst declines.
Furthermore, a crypto trader, Isak, commented on the bearish performance of
meme coins, highlighting that the recent decline in Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin has significantly
influenced this downturn. The trader revealed that most meme coins are 90%
down from their ATH, while altcoins have plummeted significantly.
Consequently, Isak has suggested that the bear market is in full swing ,
signaling the end of the bull market. SHIB price drops below $0.00002 |
Source: SHIBUSDT on Tradingview.com
Featured image created with Dall.E, chart from Tradingview.com
