It is not far from the Capitol to the Tarpeian rock! The SHIB token, which was performing spectacularly and making cascading millionaires only a few months ago, has lost its value over the days. The Dogecoin killer that once made people dream, no longer really thrills many investors. And the last performances of the memecoin do not militate in its favor either, its holders being in the rough.
Unremarkable statistics
The remarkable breakthroughs of Shiba INU (SHIB), the most popular memecoin in the United States, now seem to have given way to declining streaks that are not benefiting cryptocurrency holders. At the time of writing, SHIB is worth $0.00000657 with a decline of 3.60% in the last 24 hours.
The statistics of the IntoTheBlock analysis platform relayed by the media U.Today reveal that 91% of SHIB holders are currently at a loss. 2% of investors are profitable and 7% break even. These data therefore prove that only a tiny minority of SHIB holders are currently in profit.
The sharp decline in the prices of memecoin and other altcoins over the past weekend partly explains the reduction in the number of profitable holders of the cryptocurrency. However, the team behind the project has not played all its cards and the tide can quickly turn in favor of the Dogecoin Killer.
Promising projects that leave a glimmer of hope to investors
Shibarium, Shiba Inu’s layer 2 solution, eagerly awaited by the Shiba Inu community, could participate in the rise in the price of the memecoin. Before the official launch, the Shibarium testnet has already seen a huge flow of transactions. The beta version is an impressive success with around 20 million transactions made and more than 16 million wallets involved.
The Shiba Inu metaverse project launched in April 2022 is ongoing and may also be the catalyst for a spike in the price of SHIB. Supposed to deliver unique immersive experiences to users, the Shib Metaverse is highly anticipated, even though it won’t launch for several months.
Will the Shiba Inu community that does not give up during difficult times be rewarded for its perseverance? The days to come will situate us.
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