{"id":20607,"date":"2025-04-04T13:03:05","date_gmt":"2025-04-04T13:03:05","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=20607"},"modified":"2025-04-04T13:03:05","modified_gmt":"2025-04-04T13:03:05","slug":"shiba-inu-price-drops-shib-meme-coin-traders-are-unfazed","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=20607","title":{"rendered":"Shiba Inu Price Drops: SHIB Meme Coin Traders Are Unfazed"},"content":{"rendered":"
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Shiba Inu price drops, but SHIB traders are unfazed. Diamond hands hold 80% of the supply, while Shibarium hits 1 billion transactions. Will the meme coin market recover? Eyes on Solana, where most tokens were launched via Pump.fun in 2024.<\/p>\n

Despite the Shiba Inu price sinking 7% in the last week of trading, on-chain data suggests that the sell-off shouldn\u2019t scare off SHIB holders and traders.<\/span><\/p>\n

Recent data from IntoTheBlock <\/span>shows<\/span> that long-term holders, often referred to as \u201cdiamond hands,\u201d are confident in the meme coin\u2019s potential.<\/span><\/p>\n

\"Image\"<\/p>\n

(Source<\/a>)<\/strong><\/p>\n

The blockchain analytics firm has observed that these holders control over 80% of the supply.<\/span><\/p>\n

This high concentration of ownership among whales suggests that they believe the token is among the best cryptos to buy<\/a>. Despite any short-term volatility, it is poised for a strong recovery.<\/span><\/p>\n

Meme Coin Market Under Pressure: Can Shiba Inu Price Chart Course to Safety?<\/span><\/strong><\/h2>\n

Overall, meme coins have struggled after activity peaked in late Q4 2024 and early January.<\/span><\/p>\n

So far, the <\/span>total market cap of all meme coins<\/span> stands below $50 billion, dropping by more than 60% after rising to as high as $120 billion in early 2025.<\/span><\/p>\n

Dogecoin is the most valuable meme coin, with a market cap of over $24 billion. Shiba Inu comes in second, while Pepe seals the top three.<\/span><\/p>\n

\"Shiba<\/p>\n

(Source<\/a>)<\/strong><\/p>\n

Interestingly, despite the initial pump, TRUMP, the official meme coin by the Donald Trump team, is down by over 80%. Although it is among the best Solana meme coins<\/a>, TRUMP trades below $10 at spot rates. At its peak, the meme coin changed hands above $70.<\/span><\/p>\n

As meme coins recover, Shiba Inu is the top performer, based on price action in the last week of trading. <\/span><\/p>\n

Looking at the performance in the top 10, Shiba Inu is firm, losing only 7% in the last seven trading days, and leads the table versus SPX, down 10%, and DogWifHat, down 22% in the same period.<\/span><\/p>\n

The meme coin sell-off can be attributed to the slowdown in Solana, where most trading and launching occur.<\/span><\/p>\n

There are now fewer meme coins launching on Pump.fun, signaling dwindling interest. <\/span><\/p>\n

As of April 3, <\/span>6,739 tokens<\/span> had been launched, bringing the total number of meme coins launched on Pump.fun to over 9 million.<\/span><\/p>\n

\"Shiba<\/p>\n

(Source<\/a>)<\/strong><\/p>\n

However, the number of tokens launched is far lower than the nearly 61,000 meme coins launched on January 22.<\/span><\/p>\n

Shibarium Hits Major Milestone: One Billion Transactions<\/span><\/strong><\/h2>\n
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