Shiba Inu Adds Zero to Its Price Point as Key Altcoins Decline


Shiba Inu Adds Zero to Its Price Point as Key Altcoins Decline

Shiba Inu has been affected by the recent crypto meltdown, dropping 14 percent over the weekend and acquiring a zero.

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SHIB holders, on the other hand, appear to be unconcerned with the loss, instead of commenting about purchasing the dip during this crypto market.

While this fall is being likened to the Luna crypto meltdown, it appears to be fueled by fears about interest rates and inflation. SHIB, like Bitcoin, Ethereum, and Dogecoin, has lost a significant amount of value in the recent 24 hours. Here's the most up-to-date information about Shiba Inu prices.

Shiba Inu Swept Up In General Market Crash

SHIB, which is now trading at $0.00000777, has lost 28 percent in the last week as the crypto market has become increasingly volatile.

Despite the fact that this is a higher loss than Bitcoin's 17.5 percent dip, Ethereum, Solana, and Dogecoin all had greater price drops than SHIB.

SHIB is presently down almost 90% from its all-time high of $0.00008616 in October 2021. It is, however, somewhat higher than SHIB's price before the October rise, which began in September 2021 at $0.00000688.

Larger whales quitting the market, rather than core investors, may explain the general price decrease, like in past crypto collapses. Indeed, according to Coinbase, purchasing SHIB accounted for 77% of SHIB trading activity on its platform in the past 24 hours.

This comes as the Shiba Inu community on Twitter and Reddit brags about buying the dip or expanding their SHIB holdings.

 Some SHIB holders, on the other hand, have used the decline to criticize the Shiba Inu team's actions. Much of this is directed at the Welly NFT launch, which was just completed.

Of course, given that the whole crypto market moves as one, independent of development on projects like Shibarium or the Shiba Inu metaverse, the price reduction was unavoidable.

Apart from stablecoins, only one of the top 100 cryptocurrencies (LEO Token) has had a price gain in the recent week.

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