Shiba Inu's price has fallen below $0.000022, dropping more than 20% in just one week. This massive crash has led to 43% of SHIB investors facing losses.
Shiba Inu price falls below $0.000022, causing investors to suffer losses.
Shiba Inu (SHIB) has recently encountered a severe crash, with the price dropping to $0.000020, catching many investors off guard. This drop is one of the most severe in recent months, undermining the confidence of those who had hoped for a surge. Although market analysts had confidently predicted a rise for Shiba Inu, this highly watched meme coin has continuously retraced its gains.
This crash is closely related to the overall market's downturn and the decline of Bitcoin, putting pressure on the entire cryptocurrency market. For those who entered at price peaks, this is undoubtedly a profound lesson, warning them of how unpredictable volatility in the crypto market can be.
Data shows that currently, 43% of Shiba Inu investors are in a state of loss, with only 53% realizing profits. On-chain data from IntoTheBlock also indicates that the overall trend for Shiba Inu is bearish, with key indicators such as net network growth and trading volume performing poorly. Additionally, CoinMarketCap reports that Shiba Inu has depreciated by 12.6% in the past 24 hours, and has plummeted by 25% in the past week.
In the context of the continuously declining SHIB price, whales in the market are also selling off their holdings, making the situation increasingly severe. How the future of Shiba Inu coin will develop is worth our continued attention.
Meme coin prices have significantly dropped; analysts say they have hit bottom.
This week, meme coins experienced a 'bloodbath' in the market, with the market capitalization plummeting by 16%, dropping to $97.4 billion, causing holders to panic sell. According to the latest reports from Bitfate on the X platform, this wave of decline is evidently closely related to the panic sentiment in the market.
Cryptocurrency analyst Nick Garcia believes that although large meme coins are performing poorly, they may have already hit bottom. He points out that mid-sized cryptocurrencies have seen particularly severe declines, raising concerns. Meanwhile, trader Isak also analyzed the performance of meme coins, emphasizing that Bitcoin's recent weakness has had a profound impact on market sentiment.
It is worth noting that the prices of most meme coins have shrunk by 90% compared to their historical highs, which is undoubtedly a heavy blow for those still holding on. At the same time, altcoins have also faced severe price crashes, and the overall atmosphere of the market seems to be worsening.
Therefore, Isak believes that the bear market has fully unfolded, signaling the end of the bull market.