Over the past 24 hours, Shiba Inu Coin has experienced a steep drop of 4.53%, mirroring the overall market’s downward trend, with meme coins losing an average of 3.7%. Interestingly, the destruction rate of Shiba Inu Coin has soared by nearly 4,000%, attracting widespread attention.
While today’s setback slightly overshadows Dogecoin’s impressive 15.75% gain since Friday, it is in line with the positive trend of other altcoins.
Despite recent progress, Shiba Inu Coin still needs to recover from its 27.09% loss over the past month. However, it still maintained a stunning year-over-year gain of 99.82%.

SHIB had earlier gained 2.5%, with the price of Shiba Inu reaching $0.00001852, while the crypto market was only up 0.5%.
Despite this rise, the meme token is still down 16.5% in one week and 28% in two weeks, although it has maintained a respectable 155% gain in one year.
Given its recent losses, its underlying long-term momentum allows traders to buy when prices first start to rebound.
Additionally, as one of the major meme coins with the strongest fundamentals, Shiba Inu Coin may be on the verge of seeing some solid gains soon.
Shiba Inu Coin (SHIB) Price Rebounds – Is It Time to Buy?