Shiba Inu (SHIB ($0.00)) has faced a tough month, plummeting 27.42% in the past 30 days. Currently priced at $0.00001268, SHIB has struggled to regain momentum after a series of declines. The market cap stands at $7.47 billion, down 9.82%, reflecting investor uncertainty.
A Month of Red: SHIB Struggles to Hold Ground
SHIB started February trading near $0.0000175 but gradually lost ground. By early March, it fell to a low of $0.00001228. Despite brief recovery attempts, the overall trend remained bearish.
One month price chart. Source: CoinMarketCap
The 24-hour trading volume hit $467.2 million, showing some buying interest, but not enough to trigger a rebound. The drastic drop is even more alarming when compared to SHIB’s all-time high of $0.00008845 in October 2021.
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The token is now 85.69% below that peak. While SHIB has grown massively since its all-time low of $0.00000000008165 in September 2020, recent performance suggests fading enthusiasm.
Investor Sentiment Worsens as SHIB Falls
The decline aligns with broader market trends, but SHIB’s drop appears more severe than other major cryptos. Meme coins tend to be highly volatile, and SHIB is no exception. The circulating supply of 589.25 trillion SHIB makes it harder for the price to gain significant upward momentum without major catalysts.
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Market confidence is shaken, but some traders still see potential for a bounce. The volume-to-market-cap ratio stands at 6.26%, meaning there is still active trading, though mostly in reaction to price declines.
Will SHIB Recover or Keep Falling?
The next few weeks are crucial for SHIB. If the token fails to hold above $0.000012, further losses could follow. On the upside, if SHIB manages to break past $0.00001423, short-term bullish sentiment could return.
Shiba Inu’s future depends on market conditions, whale activity, and any upcoming ecosystem developments. For now, caution remains key, and investors should closely watch price action before making any moves.
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