Artificial intelligence calculated the price of SHIB on May 31, 2024
On May 1, the meme cryptocurrency Shiba Inu (SHIB) recorded a notable decline, trading at $0.00002108 with a daily drop of about 6% and a loss of 21.5% over the past week.
Considering that the meme token's current market capitalization is approximately $12.5 billion, SHIB has dropped by approximately $4 billion in the past week alone.
Despite recent volatility, Shiba Inu has maintained year-over-year growth of 110%, outperforming 69% of the top 100 cryptocurrencies over the same period.
Current market dynamics have seen SHIB above its 200-day simple moving average, an indicator that often signals underlying strength in short-term fluctuations. Additionally, 13 of the last 30 days have been positive for SHIB, which equates to 43% of the trading period.
Despite recent volatility, Shiba Inu has maintained year-over-year growth of 110%, outperforming 69% of the top 100 cryptocurrencies over the same period.
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