Shiba Inu (SHIB) is following the market-wide correction, facing a steep crash across all time frames.CoinGecko’s Shiba Inu datashows that SHIB has fallen by 2.9% in the daily charts and 16.3% over the previous month. If you look at the charts, the memecoin is struggling to hold on to the $0.000005 price level. This is the lowest it has fallen to in a long time. Let’s discuss if you should sell your Shiba Inu (SHIB) holdings after the latest price crash.
A majority of Shiba Inu (SHIB) holders are sitting on losses. Many are nostalgic about SHIB’s incredible 2021 rally and are hopeful the asset will once again reclaim its glory days. But the truth of the matter is that SHIB has been on a downward trajectory for years. The memecoin hit an all-time high of $0.00008616 in October 2021, more than four years ago. SHIB’s price has fallen by nearly 94% since its peak.
Props where it is due, Shiba Inu (SHIB) did manage to reclaim the $0.000036 price level in March of 2024. While the rally was commendable, it did not last. SHIB has been on a downward path since then.
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Now, let’s get to whether you should sell your Shiba Inu (SHIB) coins or hold. Well, there is no clear answer. The crypto sector is highly volatile and prices experience violent swings all the time. However, that being said, if you are sitting on heavy losses, you could consider holding on until the next bull run. The crypto market works in cycles and the market will most likely rebound once larger economic conditions improve. Shiba Inu (SHIB) could see some gains when that happens. Nonetheless, if your losses are making you anxious and you want your coins out of your hands, then you could go ahead and sell your holdings.
Source: Watcher Guru
