Shiba Inu Price Crash To $0.000022 Plunges 43% Of Investors Into Losses

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, 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.

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, which continue to weigh on the entire crypto market.

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.

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.