Still Up 602,973% From ATL: SHIB's Hilarious Price Journey Continues

Dog cryptocurrency Shiba Inu ($SHIB) is down 93% from its all-time high of $0.00008616, a level last seen almost five years ago. That's the bad news. For those keeping score at home, that's basically your portfolio doing a trust fall exercise and faceplanting into concrete.

The good news? $SHIB is still a whopping 602,973% higher than its all-time low at current prices, per CoinGecko data. So yeah, down 93% from ATH, but also up 602,973% from ATL. Math is weird. Meme coin math is even weirder.

The meme coin had its moment in the sun during the 2021 bull run, when its price rose millions of percent to reach that ATH in October 2021. Those were simpler times, when crypto market cap stood at $2.9 trillion. Ah, 2021. When gas was cheap, SBF hadn't ruined everyone's lunch yet, and everyone was a millionaire on paper.

Then came 2022's domino effect. Market cap crashed to below $800 billion by year-end, a roughly $2 trillion wipeout. Ouch. That's not a correction. That's a massacre with extra steps.

Currently, $SHIB is trading at $0.000005844, down 3.65% in the last 24 hours as the broader crypto market takes another beating. About $167 million in positions got liquidated overnight, according to CoinGlass data. For those wondering, that's roughly the GDP of a small island nation getting vaporized while you slept.

The sell-off started back in early October and has kept any meaningful rallies from gaining steam. For $SHIB bulls, it's been less of a pump and more of a sad balloon slowly deflating at a children's birthday party.

Bullish potential? The U.S. Clarity Act, expected late April, could provide regulatory relief. If that materializes, $SHIB might eye $0.000007 and then $0.00001 in the short term. On a lighter note, community member Kuro noted that $SHIB is slated for listing on Rakuten wallet. Small wins. Very small. But wins nonetheless.