Shiba Inu (SHIB) price dropped over the weekend as cryptocurrency values declined.
SHIB is down 12% in the last 7 days, according to data from Coinmarketcap.
Because the cryptocurrency market is primarily driven by hype, the decline in interest has substantially impacted the success of the meme coin.
The price trends of the token have many members of the community concerned.
Related Reading: Is Shiba Inu Network’s 500 Billion Token Burn Enough To Reach $1?
Shiba Inu Price
The Shiba Inu price started at $0.0000116 and has steadily declined over the past week.
The price has been shifting over the last several days and is currently worth $0.0000102. This is a 12% decline in just one week.
Shiba Inu is down 12% in the last 7 days. Source: @Coinmarketcap
Today’s live Shiba Inu price is $0.0000102, with a 24-hour trading volume of $128,480,980. Shiba Inu is down 1.57% in the last 24 hours.
Shiba Inu is down 1.57% in the last 24 hours. Source: @Coinmarketcap
What to Expect?
Although there have been some recent improvements to the Shiba Inu ecosystem, the price has dropped during the last week.
This confirms that the cryptocurrency industry is definitely unpredictable.
Notably, Shiba Inu’s layer-2 Shibarium network is anticipated to promote token burning, which might increase the SHIB token’s price.
Shiba Inu whales have also recently been holding SHIB tokens while whale purchases around 312 billion SHIB valued at $3.3 Million.
Community members are optimistic that the token price will soon recover if these promising tendencies hold.
Read Also: Shibarium Beta Now Boast of Over 14M Wallets, What to Expect?