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Shiba Inu’s Market Cap Slips Below $6 Billion Amid Market Bloodbath

Wed, 11/09/2022 - 06:19
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Alex Dovbnya
Shiba Inu is struggling to buck the broader bearish trend, with its value now slipping below $6 billion
Shiba Inu’s Market Cap Slips Below $6 Billion Amid Market Bloodbath
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The market capitalization of Shiba Inu (SHIB) is down 5.8% over the past 24 hours, according to CoinGecko data. 

The second most popular cryptocurrency is now valued at less than $6 billion. 

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SHIB is now down 88.20% from its all-time high of $0.000086 which was achieved last October.     

As reported by U.Today, the price of Bitcoin recently crashed to a new yearly low of $17,114 due to the FTX contagion. 

The total crypto market cap now stands at $954 billion,  

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.