Investors In Loss As Shiba Inu Crashes Below $0.000022

The Shiba Inu price is struggling to maintain stability after experiencing devastating declines recently. The meme coin's fall to $0.000020 has been a

Shiba Inu Crashes Below $0.000022 As Investors Face Heavy Losses (March 22, 2023)

SHIB price crashes below $0.000020, declining by more than 12% in the last 24 hours.

Shiba Inu price shows no signs of recovery, dropping below $0.000022.

Meme coins experience a sharp decline this week with a 16%跌幅 in the meme coin market cap.

Shiba Inu investors have endured a difficult period as the meme coin continues to struggle to maintain stability. After experiencing devastating declines recently, SHIB price now trades close to $0.000020, marking one of the steepest drops in recent months.

Shiba Inu price crashes below $0.000020

According to the latest data from CoinMarketCap, SHIB price is on a downward trajectory, losing 12.6% of its value in the past 24 hours. Over the last week, the doggy-themed meme coin plummeted by a staggering 25%, compounding its losses from the past month, when it recorded a 15% decline.

As SHIB price continues to decline rapidly, reaching levels not seen in a long time, investors are becoming increasingly concerned about the future of their investments. While many analysts had forecasted price surges for meme coins like Shiba Inu, especially after the recent bullish trends, the reality has been quite different.

This downturn in SHIB price has been heavily influenced by the broader bearish market conditions. Bitcoin price has experienced significant declines over the past few days, which are continuing to weigh on the entire crypto market.

Investors who entered the market during price highs now face heavy losses

For investors who entered the crypto market during the bull market highs, especially those who flocked to meme coins like Shiba Inu, the recent crash will come as a sobering experience. It serves as a reminder of the inherent volatility associated with crypto markets, particularly when it comes to meme coins.

Known for their highly speculative nature, meme coins are prone to erratic and sharp declines that typically take the market unawares. These coins often experience massive gains in short periods, attracting a large number of investors who are enticed by the potential for quick profits.

However, these sharp rises are frequently followed by sudden crashes, leaving many investors at risk of facing substantial losses. Shiba Inu investors must be prepared for further volatility and potential downtrends as the market continues to fluctuate.

Shiba Inu investors at a loss, on-chain signals mostly bearish

According to data from IntoTheBlock, ۴۳% of Shiba Inu investors are at a loss, while only 53% have seen profits. This disparity highlights the challenges faced by a significant portion of SHIB holders.

Additionally, IntoTheBlock's on-chain signals for Shiba Inu are mostly bearish, with key indicators like Net Network Growth, large transaction volume, and concentration in the negative range. These signals further suggest that the meme coin is experiencing a period of weakness.

Whales rapidly selling SHIB holdings as price crashes

As Shiba Inu price continues to plummet, whales are also observed to be rapidly selling off their holdings. According to blockchain wallet tracker LoonOnChain on X (formerly Twitter), an anonymous whale recently sold 250 billion SHIB, valued at $6.05 million.

Interestingly, the whale had initially spent $3,800 to buy 15.28 trillion SHIB as early as August 6, 2020. From this investment, the whale stood to gain profits amounting to up to $109 million.

This massive sell-off by whales could indicate their concerns over the recent downturn in SHIB price and their preference to secure gains or minimize potential losses as the meme coin's value fluctuates.

Meme coins see sharp decline this week, analyst calls bottom

According to Bitfate on X, meme coins have entered the red zone this week, with sharp declines driven primarily by panic selling among holders. Notably, Coingecko has disclosed that the meme coin market cap has experienced a 16%跌幅, spiraling down to $97.4 billion.

In a relevant development, crypto analyst Nick Garcia has called a potential meme coin bottom, highlighting that large-cap meme coins are currently lagging while mid-tier cryptocurrencies have seen one of the worst declines.

Furthermore, a crypto trader, Isak, commented on the bearish performance of meme coins, highlighting that the recent decline in Bitcoin has significantly influenced this downturn. The trader revealed that most meme coins are 90% down from their ATH, while altcoins have plummeted drastically.

Consequently, Isak has suggested that the bear market is in full swing, signaling the end of the bull market.