Shiba Inu Falters Once More

Shiba Inu was once known as the Dogecoin-killer, a token that could take the meme coin trend to the mainstream, but now it’s stumbling, continuing a trend that’s spooking investors. Over the past 7 days, Shiba Inu has dropped 18.13%, losing 10.38% to Bitcoin and 12.52% against Ethereum in just the last 24 hours. While SHIB gained 439.07% over the past 90 days, it’s actually lost over 50% of its value since reaching its all-time high in late October. As reported previously, SHIB and DOGE are falling together as the crypto market loses steam. Across the globe, panic over the currency in India is pushing prices lower, as the SHIB/INR pairing lost 19.15%. The Indian government is working on legislation that could ban all cryptocurrencies, and panic selling has taken hold of the Indian market. In other news, Dogecoin dropped 11.12% in early trading on Wednesday.