Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Shiba Inu (SHIB), one of the most popular meme coins around, has just hit its lowest point ever against Bitcoin (BTC). Since October 2021, the SHIB/BTC pair has dropped by more than 91%, according to long-term monthly chart data. The move covers almost four years and shows that SHIB has been consistently below the biggest digital asset on the market.
If you look at the SHIB/BTC trading pair, you will see a very clear downtrend with no interruptions. After peaking in late 2021, SHIB has seen lower highs and lower lows, and the most recent monthly candles have shown almost no signs of buying pressure.
You Might Also Like
The pair is now trading at 0.000000001124 BTC, which is a tiny fraction of its former value. Just so you know, SHIB’s previous local top against Bitcoin was around 0.000000013237 BTC, so that is a collapse of over 90% in value.
This is not just a technical story. It is also a reflection of how the market’s feeling. SHIB has managed to keep its community involved and its holders loyal, but it has had a tough time keeping up with Bitcoin-led cycles.
You Might Also Like
It is not like the 2021 bull run, when meme tokens surged alongside BTC and ETH. The current market seems to be more risk-averse. Money is moving into assets that are more reliable, and there are fewer speculative flows into meme coins, especially old and “heavy” like Shiba Inu with its $6.89 billion market capitalization.
Even so, a 90% drop often makes investors wonder if this is the capitulatory end or the start of a recovery. In the past, extreme underperformance like this has sometimes been a sign that the market is about to change, especially when BTC dominance cools off and altcoin cycles reawaken.
