{"id":8048,"date":"2023-05-13T00:08:09","date_gmt":"2023-05-13T04:08:09","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/81-of-shib-holders-are-in-the-red-while-new-meme-coin-nomeme-eyes-recovery\/"},"modified":"2023-05-13T00:08:10","modified_gmt":"2023-05-13T04:08:10","slug":"81-of-shib-holders-are-in-the-red-while-new-meme-coin-nomeme-eyes-recovery","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=8048","title":{"rendered":"81% of SHIB Holders are in the Red While New Meme Coin NoMeme Eyes Recovery"},"content":{"rendered":"
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81% of Shiba Inu (SHIB) investors are now in the red, with the world\u2019s second most popular meme coin having largely failed to emulate the bull market seen in other major cryptocurrencies like Bitcoin and Ethereum this year.<\/p>\n

That\u2019s according to data from IntoTheBlock, whose summary of six on-chain and exchange signals is \u201cmostly bearish\u201d, with four bearish, one neutral and only one bullish.<\/p>\n

SHIB\/USD was last changing hands around $0.0000086, down around 45% from earlier yearly highs in the $0.000016 area, with yearly gains eroded to now only around 10%.<\/p>\n

Shiba Inu\u2019s losses have been cascading in recent days since the cryptocurrency dropped below key medium-term support just under the $0.000010 level, with many technicians thinking a test of late-2022\u2019s lows in the $0.0000078 area is on the cards.<\/p>\n

Where Next for Shiba Inu (SHIB)?<\/strong><\/h2>\n

Ominously, Shiba Inu is currently testing a key uptrend that has been offering long-term support going all the way back to September 2021.<\/p>\n

A break below here could spark a rout in the meme coin, and potentially set the stage for it to drop all the way back to the $0.000006 area.<\/p>\n

Can NOMEME Regain Its Shine? Here\u2019s How to Buy<\/strong><\/h2>\n

As Shiba Inu craters, another, newer meme coin called No Meme Token (NOMEME) is also seeing a substantial price decline.<\/p>\n

No Meme Token (NOMEME) was launched in the wake of a tweet by Twitter, Tesla and SpaceX CEO Elon Musk, who shared a picture of a Milady Maker with the caption \u201cThere Is No Meme\u201d and \u201cI Love You\u201d on Wednesday.<\/p>\n

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Milady Maker is a popular non-fungible token (NFT) collection on OpenSea and Musk\u2019s tweet prompted an immediate pump in the collections price floor.<\/p>\n

It pumped as much as 10x versus its listing price on Uniswap in the first few hours, but has since come under significant sell pressure and is around 85% down from these earlier weekly highs.<\/p>\n

But some observers still think that the meme coin could benefit from one last pump.<\/p>\n

Buying NOMEME is easy via the project\u2019s simplistic website, which features a Uniswap embed.<\/p>\n

All a user needs to do it connect their web3 wallet to the Uniswap plugin and they can begin buying NOMEME immediately.<\/p>\n<\/p><\/div>\n