The global stock markets majorly tanked on Monday losing funds worth trillions of dollars in a single trading session. Institutional funds pulled out from the equity markets as Trump’s tariffs went live on April 2, dubbed Liberation Day. Bitcoin crashed below the $76,000 mark and the dip pushed leading cryptocurrencies into the red. Ethereum, Ripple’s XRP, Cardano’s ADA, Solana, Dogecoin, and Shiba Inu fell double-digits in the charts in the day’s trade.
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SHIB: What’s Happening With Shiba Inu Amid the Market Crash?
Shiba Inu is also dwindling in the charts and is down more than 10% in the day’s trade. Its price is hovering around the $0.00001086 mark and has entered the bearish territory. Traders fear taking an entry position now as the bottom could be more deep. Another leg-down from here could pull SHIB below the $0.00001 range and make it add an extra zero.
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If Shiba Inu gains an extra zero, it would create a major psychological imbalance among the investors’ community. The price at the $0.000001 level might put off traders as the downturn signifies the token isn’t strong enough to withstand the whiplashes of the markets. The trading volume has already fallen below the $350 million level signaling no scope for new investments.
SHIB is known for high volatility and major price fluctuations and not everybody can ride the roller-coaster of uncertainty. Difficult times lay ahead for Shiba Inu as it has lost every profit it generated for a year. Holding on for the long term could also prove dangerous during market crashes as investors come back to square one.
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While the upward journey is long and tiresome, the downward journey occurs in a jiffy. It is advised to stay away from Shiba Inu currently as the global economy is experiencing a big change. The best solution is to wait for further crashes and take an entry position during the dips only if you can afford it.
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