Shiba Inu 93% Off All-Time High Sale, But Still Up 602,973% From Bottom

Dogecoin's feistier cousin is having a moment of reflection. According to CoinGecko, $SHIB is down 93% from its all-time high of $0.00008616, a price last seen nearly five years ago. Ouch. That's not a dip, that's a freefall with a parachute malfunction.

But here's the thing - at current prices, SHIB is still a whopping 602,973% higher than its all-time low. So while it's down from the moon, it's still way up from the basement. For the degens who bought the bottom, this is still the equivalent of finding a hundred bucks in your winter jacket from 2019.

The 2021 bull run was something else. SHIB went on an absolute tear, eventually hitting that ATH in October 2021. Then 2022 happened. The broader crypto market saw its total capitalization crumble from $2.9 trillion in November 2021 to under $800 billion by year's end - a $2 trillion wipeout that took no prisoners. RIP to the portfolios that didn't make it.

Currently, $SHIB is trading at $0.000005844, down 3.65% in the last 24 hours as the market continues its downward spiral. About $167 million in positions got liquidated during that span, per CoinGlass data. That's a lot of dreams going up in smoke faster than a memecoin influencer's credibility after a rug pull.

Could a reversal be coming? If the U.S. Clarity Act passes in late April (institutional investors are watching closely), a bullish scenario could see SHIB targeting $0.000007, then $0.00001 in the short term. Not financial advice, but also not NOT financial advice.

On a lighter note, community member Kuro noted SHIB is slated for listing on Rakuten wallet. Small wins. Sometimes the little victories are all that keep us going while we stare at charts that make us question every life decision.