Shiba Inu slump continues: Data shows retail interest waning as SHIB down 60% in 4 weeks

Shiba Inu slump continues: Data shows retail interest waning as SHIB down 60% in 4 weeks


Shiba Inu (SHIB) edged further down on Nov. 24 as its appeal among the army of retail traders, who helped it rally by more than 535% to a record high of $0.00008854 earlier this year, declined.

SHIB’s price dropped by nearly 60% after establishing the said all-time high on Oct. 28, signaling that traders have been actively locking their Shiba Inu profits. That has further resulted in a substantial drop in SHIB’s benchmark instrument of SHIB/USDT volumes on Binance, underscoring a weak retail interest.

In doing so, SHIB’s reported market capitalization slipped to $21.30 billion from around $28.31 billion in just five days beginning on Friday.

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SHIB/USDT daily price chart. Source: TradingView

Google’s keyword search data also showed a declining interest in the “Shiba Inu” markets, with its score

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