Here’s How Much #shibaInu , #cardano , and $XRP Have Dipped Since Their ATHs 

The recent downturn in the crypto market has left many investors feeling disheartened as their favorite digital assets witness significant declines from their previous all-time highs (ATHs).

Possible Reasons for the Recent Dip

As of now, the global crypto market cap, which reached approximately $2.76 trillion in March, has dropped to $2.16 trillion, marking a decline of 21.73% in less than two months.

The recent downturn is attributed to post-halving sell-offs and miners adjusting to reduced mining rewards. With rewards halved from 6.25 BTC to 3.125 BTC, miners are selling BTC to cover costs.

In addition to the post-halving sell-off, macroeconomic conditions and the underperformance of Bitcoin and Ethereum exchange-traded funds (#ETFs ) in Hong Kong have also contributed to the recent dip in crypto prices.

Extent of Decline in SHIB, XRP, and ADA Since Their ATHs
The market downturn has led to significant declines in many crypto assets, including Shiba Inu ($SHIB ), XRP (XRP), and Cardano (ADA), all falling far below their previous all-time highs.

Shiba Inu, for instance, surged to approximately $0.000045 in early March before plummeting to $0.00002184 recently, marking a 75.19% decrease from its ATH of $0.00008845 in October 2021.

Similarly, ADA experienced a remarkable rally in March, reaching nearly $0.8, but has since dropped to $0.4446, resulting in an 85.66% decline from its previous ATH of $3.10 in September 2021.

XRP's all-time high of $3.84 occurred during the 2018 cycle, contrasting with its current price of $0.5134, marking an 86.67% decline. Despite similar declines in SHIB and ADA, analysts anticipate potential rebounds during the 2024/2025 bull run.

Remember, investing in #cryptocurrencies is highly speculative and involves a significant risk of loss. You should never invest more than you can afford to lose also do your own research.

Source - thecryptobasic.com