Shiba Inu Price Decline: SHIB Meme Crypto token Investors Remain Unperturbed
The price of Shiba Inu has decreased, yet SHIB traders remain undeterred. Diamond hands possess 80% of the token supply, while Shibarium surpasses 1 billion transactions. Is there potential for a recovery in the meme crypto token trading market? Attention is drawn to Solana, where most tokens debuted through Pump.fun in 2024.
Although the Shiba Inu price dropped by 7% during the final week of trading, on-chain insights indicate that the price drop is unlikely to dissuade SHIB holders and traders.
Recent statistics from IntoTheBlock reveal that long-term investors, commonly known as “diamond hands,” are assured about the meme coin’s future prospects.
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The analytics firm in the distributed ledger sphere has found that these holders command more than 80% of the token supply.
This concentration of holdings among whales implies that they regard the crypto token as one of the top cryptocurrencies to invest in. Regardless of short-term fluctuations, it is set for a solid rebound.
Meme Token Market Under Strain: Will Shiba Inu Price Find a Safe Path?
In general, meme coins have faced challenges following heightened activity in late Q4 2024 and early January.
Currently, the overall trading market capitalization of all meme coins is under $50 billion, having dropped over 60% from a peak of $120 billion in early 2025.
Dogecoin remains the leading meme coin, boasting a market cap exceeding $24 billion. Shiba Inu ranks second, followed by Pepe in the third spot.
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Notably, despite the initial surge, TRUMP, the official meme coin from the Donald Trump team, has plummeted over 80%. While it ranks among the leading Solana meme coins, TRUMP now trades under $10 at current rates. At its height, the meme crypto token traded above $70.
Amidst the recovery of meme coins, Shiba Inu shines as the top performer, shown by recent price movements.
Analyzing the top 10 performances, Shiba Inu holds strong, with only a 7% decline over the past week, leading against SPX’s 10% fall and DogWifHat’s 22% drop during the same timeframe.
The sell-off in meme coins can be linked to a slowdown in Solana, where the majority of trading and new launches are concentrated.
Fewer meme coins are being introduced on Pump.fun, indicating a decrease in interest.
As of April 3, 6,739 tokens have been launched, raising the total number launched on Bull run.fun to over 9 million.
(Source)
Nevertheless, the number of launched tokens is significantly lower than the nearly 61,000 meme coins that appeared on January 22.
Shibarium Achieves Significant Milestone: One Billion Transactions
Should Solana’s meme coin activities gain momentum, it may positively influence Shiba Inu and the ETH ecosystem.
In such a scenario, layer-2 platforms could witness increased transactions, promoting SHIB’s performance.
Attention is directed towards Shibarium, the Ethereum layer-2 solution from Shiba Inu.
While it might not achieve the same popularity or transaction volume as Arbitrum and Base, there has been noticeable activity.
As per ShibaScan, the protocol has recently achieved over 1 billion transactions, indicating growing adoption.
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In just the last day, Shibarium has managed over 2.75 million transactions.
At the same time, the count of unique addresses on Shibarium continues to rise, exceeding 194 million.
If network acceptance surges, in conjunction with the activity of SHIB whales, the crypto token could gain traction, overcoming its weaknesses.
SHIB Aiming for Recovery: Will Meme Coins Revert to Q4 2024 Status?
As optimistic as this may sound, concerns linger regarding meme coins.
In November 2024, Changpeng Zhao remarked that meme coins were becoming “a bit peculiar.” He encouraged developers to create solutions that address real-world challenges.
I do not oppose memes, but meme coins are getting “a bit” odd now.
Let’s create genuine applications utilizing blockchain.
— CZ
Skeptics suggest that meme coins merely represent speculative gambling fueled by excitement, not solid fundamentals.
I believe it’s common knowledge that memecoins are straightforwardly zero-sum gambling… akin to roulette but with better odds, yet still a negative expectation.
In this light, memecoins are entertaining. A fresh type of casino, and casinos can be enjoyable.
For those unaware it’s just gambling–those who have an… https://t.co/5X2bQ4Lq9i
— Erik Voorhees (@ErikVoorhees) January 30, 2025
Popular social media discussions or endorsements from celebrities frequently sway prices, only for these tokens to decline when the thrill fades.
Others argue that meme coins exist purely for amusement, lacking utility, even if some, like Pepe, possess trading market caps in the billions.
Nonetheless, advocates contend meme coins are here for the long haul, asserting their appeal because VCs price floor endless tokens that lack utility.
1. Memecoins shape the public perception to portray crypto as a casino
2. Their rise stems from VCs investing in countless tokens that introduce nothing new (dex forks, endless infrastructure “modular” coins, etc.)
Tackling #2 will resolve #1 if VCs truly have an aversion to memes
— tunez (evm/acc)
Consequently, meme coins gained traction, which explains why VCs may dislike them.
DISCOVER: 16 Upcoming Cryptos to Surge in 2025: Expert Predictions & Analysis
Shiba Inu Price Declines, Yet SHIB Traders Maintain Optimism Amid Meme Crypto token Crypto market Slowdown
- Shiba Inu price shows resilience, surpassing DogWifHat and SPX
- Whales controlling SHIB exceed 80% of the total supply
- Shibarium completes over 1 billion transactions as the number of addresses grows
- Meme coin market tightens—will it continue to decline or recover?
The post Shiba Inu Price Drops: SHIB Meme Crypto token Traders Are Unfazed appeared first on 99Bitcoins.
