The cryptocurrency market in common didn’t have the brightest glow in 2022. A slew of occasions, mixed with a protracted bear market, stored cryptocurrency costs low.
Most of the cryptocurrencies, together with Bitcoin and different altcoins, are buying and selling 60% to 90% beneath their all-time highs. The second-largest meme coin, Shiba Inu, is not any exception in this case. Shiba Inu is 90.8% down from its all-time excessive of $0.00008845 on October 28, 2021. Let us take a deeper have a look at how a lot worth Shiba Inu will lose in 2022.
The downward spiral of Shiba Inu’s worth in 2022
Everyone can agree that 2022 was not the perfect yr for the cryptocurrency market. Shiba Inu has misplaced the vast majority of its positive aspects this yr, owing to the collapse of Terra in May and the current collapse of the FTX change.
As per the information from Coingecko, Shiba inu misplaced over 78.9% over the past yr. On December 28, 2021, SHIB was buying and selling at $0.00003907. One yr in the past, the meme coin was buying and selling at virtually 4 occasions its present worth.
SHIB has additionally misplaced 0.3% in the final seven days, 9.3% over the past 14 days, and 10.1% over the past 30 days. It is buying and selling at $0.000008136 at press time with a 2.3% drop in worth over the past 24 hours. There has additionally been a 49.7% spike in buying and selling quantity over the past 24 hours.
However, it’s unclear when there will probably be a reversal in the market situation. The starting of the subsequent bull market can most likely erase all of the losses and assist to create new all-time highs.
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