The price of Shiba Inu has fallen by 90% from the peak value

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According to cryptocurrency services, the value of Shiba Inu (SHIB) was $0.00000984 as of 13:50 Moscow time on October 13, 2022. The virtual asset lost 4.89% of its value over the past day and fell by 14.13% over the past week. Experts calculated that from the peak price values ​​noted last year, the decline was about 90%.

According to analysts, these SHIB figures indicate that we are witnessing a tough bear market and things in the industry are rather deplorable. Joe Weisenthal, co-host of the Odds Lots podcast, suggested that the declining value of the Shiba Inu could be a sign of continued selling pressure and a loss of confidence in the industry.

The expert assured: the capitalization of the Shiba Inu token is now below $6 billion ($5.45 billion at the time of writing). The fall of about 90% from the high of $0.00008616, which was reached in October last year, speaks of serious problems in the crypto industry. The analyst recalled that at the peak, the total supply of cryptocurrency was estimated at more than $50 billion.

Many social media users discussed the fact that the popularity of the meme token has declined significantly. This led to a drop in quotes. Despite the fact that the product developers promised to build their own Shibaverse metaverse, and also assured that they would constantly improve their project, this did not save the virtual asset from collapse, and its investors from global financial losses over a distance of 1 year.

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