Shiba Inu Investors in the Red as Meme Coin Struggles to Emulate Bull Market of Other Cryptocurrencies

05/12 21:36

According to data from IntoTheBlock, 81% of Shiba Inu (SHIB) investors are currently in the red, as the meme coin has failed to replicate the bull market seen in other major cryptocurrencies like Bitcoin and Ethereum this year. The summary of six on-chain and exchange signals is mostly bearish, with four bearish, one neutral, and only one bullish. Shiba Inu's losses have been cascading in recent days, and it is currently testing a key uptrend that has been offering long-term support since September 2021. As Shiba Inu craters, another meme coin called No Meme Token (NOMEME) is also seeing a substantial price decline.

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