SHIB long term returns for retailers have declined to -31.7%. SHIBA Inu is the worst performing memecoin in 2024
Shiba Inu has been the worst performing memecoin in 2024. SHIB’s long term returns for retails have declined to negative -31.7%., the second largest memecoin by market capitalization, has experienced a sustained decline over the past month. In fact, as of this writing, SHIB was trading at $0.00001325. This marked a 1.62% decline over the past day.
Equally, this period has witnessed the memecoin decline in trading volume. Thus over the past day, SHIB’s trading volume has declined by 20% to $136.4 million. Prior to this, SHIB had made little gains over the past 7 days with the memecoin rising by 0.77%. However, on monthly charts, the memecoin has dropped by 2.50%. Therefore, overall, SHIB has experienced a downward trajectory.According to Santiment, SHIB has been the worst performing memecoin in 2024. The analysts suggest that the 30-day average trading returns have declined to -1.1% and long-term returns dropped by -31.7%.
Therefore, SHIB is experiencing strong negative market sentiment which is pushing retail traders out of the market. If these market conditions hold, the meme-coin will decline to the critical support level of around $0.00001263.Gladys is a passionate crypto-enthusiast and price analyst. With 3 years of experience in the blockchain space, she's well aware of the prevailing market trends. Gladys is uniquely committed to providing insightful and real-time content to the larger crypto-community.
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