Shiba Inu, one of the leading cryptocurrencies that left its mark on 2021, is struggling to recover after the fall from its peak.
Although the famous cryptocurrency experienced a 10% reaction rise today, it still continues to trade 46% below its peak.
At this point, although there is news of Shiba listing from many exchanges, we observe that the price has difficulty in rising and there is a serious decrease in volume.
The waning momentum also caused Shiba investors to dwindle.
According to data provided by CoinmarketCap, the number of Shiba owners, which had skyrocketed as of October 8, fell for the first time.
While its fans expect the number of Shiba owners to reach 1 million, the difficulty in increasing the price has also affected the number of those who own it.
Undoubtedly, the decrease in risk appetite in the market also contributed to this withdrawal. While the downtrend that Bitcoin started after $69,000 continues, we think that the decrease of Shib holders should be considered reasonable. We will be watching whether the number of Shiba owners will exceed 1 million with the increase in risk appetite in the market.
As of our news time, the Shiba Inu is trading at $0.00005099. According to the CoinmarketCap ranking, Dogecoin remains the 10th most valuable cryptocurrency, while Shiba Inu remains the 11th most valuable cryptocurrency.