The post Shiba Inu Price Hits Yearly Lows: SHIB Might Face Worst Case Scenario in Coming Week appeared first on Coinpedia Fintech News
The hype on Shiba Inu, the second largest meme coin by the online community and total market capitalization, has significantly declined in the past year, and so is the underlying value. According to our latest crypto price oracles, Shiba Inu’s price has dropped approximately 82 percent in the last year to trade between $0.00000850 and $0.00001201 in the last few days.
While the bear market has sustained around the entire market, the collapse of the FTX cryptocurrency exchange has magnified risk investments in the digital asset industry.
As such, meme coins, which generally record higher volatility in a shorter time frame, are a trend more negatively than utility crypto assets. Moreover, the cryptocurrency industry heavily depends on the speculative aspect, where meme coins largely thrive.
With increased selling pressure in the cryptocurrency indust
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