Joe Weisenthal, co-host of the “Odds Lots” podcast, half-jokingly noted that the fact the market cap of the Shiba Inu (SHIB) token is now below the $6 billion means that the cryptocurrency industry is now in “a brutal bear market.”
The popular meme cryptocurrency is trading at $0.00001003 on the Bitstamp exchange, according to CoinGecko data.
The SHIB token is currently valued at $5.9 billion after its price declined 88% from the all-time high of $0.00008616 that was reached last October.
Alex DovbnyaSome Twitter users, however, believe that the joke cryptocurrency is still worth too much. “Yes, Shib being zero would be like the beginning of a real bear market,” @Blueelectron4 wrote.
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