SHIB Price Plunges Further as Meme Coins Lose Momentum

Jul 6, 2023 6:21 AM

Crypto, Crypto Market, Crypto Regulations

The Struggles of Shiba Inu (SHIB) and the Potential Promise

Shiba Inu (SHIB) has faced challenges in its price performance and market capitalization after the US SEC took action in the crypto industry. Here are the key points to know:

– SHIB price has experienced a 3.9% gain over the past seven days, but a 1.5% downfall in the last 24 hours.
– The total market capitalization of meme coins, including SHIB, has declined by 1.68% to $15.8 billion.
– Trading volume for meme coins has decreased by 6.7% to $816 million.
– SHIB is currently trading at $0.0000076 with a market cap of $4.4 billion.
– On-chain activity for SHIB has been consistently rising, with over 2,500 unique addresses created in the past seven weeks.

Despite the underwhelming price performance, there is still potential promise for SHIB as more investors join the market. The increasing on-chain activity suggests growing interest in the meme coin. While the struggles continue, SHIB remains up 4.7% over the past week.

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Thoughts on SHIB’s Future

Although SHIB has faced challenges recently, the increasing on-chain activity and growing investor interest indicate potential growth for the meme coin. It will be interesting to see how SHIB’s price and market capitalization evolve in the coming weeks. Will SHIB be able to overcome its struggles and make a comeback? Share your thoughts and opinions on the future of Shiba Inu (SHIB).