SHIB is continuing its downward movement by losing 60% in a month

SHIB is continuing its downward movement by losing 60% of its price in a month. The popularity of the SHIB has declined among the retail investors who helped it to gain more than 535% to make a new ATH at $0.00008854 earlier this year.

The Crypto market started with its flagship currency, BTC, but now it contains more than 6k+ coins and tokens. The DOGE was built on the idea to mock the financial system which got a lot of attention and nearly reached a $1 price earlier this year. SHIB is thought of as a rival to the original meme currency. Both of these assets have no fundamentals upon which they are created. These are the new shape of Ponzi schemes.

SHIB is continuing its downward movement:

SHIB price boom was the most surprising and unbelievable thing in the crypto market. The retail investors have helped the SHIB to set a bullish momentum and it added 535% to its price earlier this year. This price boom helped the coin to make a new ATH at $0.00008854 on October 28. After making a new ATH, SHIB is continuing its downward movement. The token has lost more than 60% in a month.

I think that the retail investors’ interest has declined in the token and it is going down with each passing day. The interesting thing to notice here is that SHIB is continuing to lose its market cap also. The token’s market cap has dropped to $21.30 billion from $28.31 billion in just five days. Some good news from the market can help the token to reverse its direction.

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