SHIB down 93% from ATH, all buyers in last 5 years at a loss, says report

Shiba Inu (SHIB), the second-largest memecoin by market capitalization, is trading approximately 93% below its 2021 all-time high, The Crypto Basic has pointed out. The outlet noted that while the community chanted "SHIB to the moon" when the token hit its peak of $0.00008854 in October 2021, the situation is now starkly different. Nearly five years later, the report states that all investors who have purchased SHIB within that timeframe are currently at a loss. The Crypto Basic explained that while SHIB is a community-driven memecoin, its massive supply, numbering in the hundreds of trillions, is a significant obstacle. The report added that the token's lack of clear utility is expected to prolong its price recovery, leading to growing skepticism among holders.