Shiba Inu (SHIB) has been facing a sharp price decline in recent years. SHIB has gotten off to a great start since its debut in August 2020. SHIB was in the 2021 bull market, rising to an all-time high of $0.00008616 in October 2021. However, SHIB has faced a significant price correction since its peak in 2021. SHIB is currently down more than 91% from its all-time high. Although many may believe that SHIB has endured significant losses over the past few years, Shiba Inu (SHIB) is still up millions of percentage points from its lowest levels.
Shiba Inu remains one of the best performing cryptocurrencies
According to data from CoinGecko, Shiba Inu (SHIB) is up more than $13 million (13 million percent) from its low of $0.00000000005637 when it traded more than five years ago in November 2020. SHIB has made incredible gains since its 2020 lows, making it one of the best-performing assets over the past few years.
Following October’s interest rate cut, Shiba Inu (SHIB) has faced a significant price decline over the past few months. According to CoinGecko data, SHIB has fallen 1.9% in the past 24 hours, 12.6% in the last week, 13.7% on the 14-day chart, 15.4% month-over-month, and 69.5% since December 2024.
The recent correction in Shiba Inu (SHIB) can be attributed to macroeconomic factors. Investors appear to be moving away from risky assets such as cryptocurrencies. Since SHIB is a meme coin, it carries even greater risks than traditional cryptocurrencies. The crypto market likely won’t recover until the economy gains some footing. 2026 could see either a prolonged crypto winter or the start of a new bull market. It remains to be seen how things will unfold.
