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

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As a seasoned analyst with over two decades of experience in the financial markets, I’ve seen my fair share of bull runs and bear markets. The recent crash of Shiba Inu below $0.000022 is yet another stark reminder that even the most promising investments can turn sour in the blink of an eye.

1) The cost of Shiba Inu has plummeted below 0.000022 dollars, plunging by over 20% within the last seven days. As a result, about 43% of Shiba Inu investors are now reporting losses. This steep fall in value also coincides with a general downturn in the meme coin market, as other prominent coins such as Dogecoin, Pepe, and Bonk have suffered similar price drops.

Investors In Loss As Shiba Inu Crashes Below $0.000022

After facing dramatic drops, the Shiba Inu’s price is finding it tough to hold its ground and remain steady. The plunge to approximately 0.000020 USD has had a substantial impact on its investors, representing one of the most severe decreases observed in recent times.

Despite several predictions suggesting an increase in Shiba Inu’s price, this meme coin has actually experienced a drop instead. This decrease is largely attributed to the prevailing bearish market trends and the continuous fall of Bitcoin, which continues to have a significant impact on the overall cryptocurrency market.

As someone who jumped into the cryptocurrency world during its peak prices, the recent market downturn has served as a humbling lesson and a stark reminder of the volatile nature of this space. Particularly, meme coins, recognized for their speculative character, are susceptible to sudden, steep drops that often catch the market off guard.

Approximately 43% of Shiba Inu investors are currently experiencing losses, while a slightly higher percentage of 53% have made profits, as revealed by data from IntoTheBlock. Moreover, IntoTheBlock’s on-chain analysis suggests that Shiba Inu generally trends bearish, with essential markers like Net Network Growth, high transaction volume, and centralization all pointing towards negative conditions.

According to CoinMarketCap’s latest report, Shiba Inu is experiencing a steady drop, shedding approximately 12.6% of its worth over the last 24 hours. Over the course of the past week, this meme coin based on dogs has plunged a significant 25%, adding to its losses from the previous month where it fell by 15%.

Even as Shiba Inu coin prices drop significantly, large investors (whales) are quickly unloading their assets. According to the blockchain wallet tracker LoonOnChain (previously known as Twitter), an anonymous whale recently sold 250 billion SHIB tokens worth approximately $6.05 million. This whale originally spent only $3,800 to purchase a massive 15.28 trillion SHIB back on August 6, 2020, translating into potential profits of around $109 million from their investment.

Meme Coins See Sharp Decline; Analyst Calls Bottom

As per Bitfate’s analysis on X, meme coins have slid into a ‘red zone’ this week, with steep drops predominantly caused by panicked selling from holders. Furthermore, Coingecko has revealed that the total market capitalization of meme coins has dropped by 16%, plummeting to around $97.4 billion.

According to Nick Garcia, a crypto expert, there might be a base for meme coins, as he noted that larger meme coins are currently falling behind, whereas mid-level cryptocurrencies are experiencing one of their steepest drops.

To add to this, crypto trader Isak expressed his thoughts on the drop in meme coins, attributing it largely to Bitcoin’s recent poor performance. He pointed out that most meme coins have dropped about 90% from their all-time highs, while many altcoins have also experienced significant losses. As a result, Isak believes we are now firmly in a bear market, which could signal the end of the bull market.

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2024-12-21 08:41