As of May 1, Shiba Inu (SHIB) is experiencing a notable downturn, trading at $0.00002113, reflecting a 10.72% decline over the past 24 hours and a 22% drop in the last week.
With the current market capitalization standing at approximately $12.3 billion, SHIB is significantly below its March peak of $21.1 billion, having shed about $4 billion in market cap in just the past week.
SHIB 1-week price. Source: Finbold
Despite this recent volatility, Shiba Inu has displayed a remarkable year-over-year growth of 110%, outperforming 69% of the top 100 cryptocurrencies over the same period.
The recent market dynamics have placed SHIB above its 200-day simple moving average, an indicator that often signals underlying strength amidst short-term fluctuations. Additionally, only 13 out of the last 30 days have been positive for SHIB, constituting 43% of the trading period, yet the coin’s performance over the past year suggests resilience in a broader perspective.
According to ar
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