Shiba Inu Price Plunges 90%, Leaving Holders to Wonder About Permanent Loss

Shiba Inu (SHIB) holders are wondering if their losses are temporary or permanent, as the token's price has crashed by a staggering 90% from its peak. The current price of SHIB is around $0.00000473, down from its record high in October 2021 of $0.000088.

The decline is not just limited to this year; over the past year, the token's value has plummeted by a significant 70%. This means that those who invested at the peak are still in the red despite the recent price bounce.

One reason for the decline is the burn rate, which hasn't had the desired effect. Despite burning over 410 trillion SHIB tokens, representing 41% of the initial supply, the circulating supply remains high at around 589 trillion tokens.