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Shiba Saga (SHIA) price has significantly dropped over the last 24 hours, dipping from $0.1459 to $0.1056 yesterday, September 11.
The level at $0.1056 represents the token’s daily and all-time low, but since the dip, the price managed to recover somewhat, currently at $0.1223. Despite the recovery, the token traded 12% lower than 24 hours ago.
However, SHIA is down by nearly 49% weekly after dropping from $0.269 on September 5.
The price dropped rapidly on September 6, followed by a sharp surge in the day’s final hours, allowing it to climb back to $0.25. After that, the token’s value started spiraling down once again, which led it to a support at $0.132 on Friday, September 8.
Over the weekend, the token fluctuated between this support and resistance at $0.15, but the support eventually broke on Sunday, causing the token to drop to $0.12. Monday brought a short surge back to $0.15, followed by a previously described drop.
Its volume is also deficient, sinking to only $3 million. In comparison, yesterday, the average daily volume was at $5.6 million; on September 6, it was at $8.79 million, the highest during the past week.
However, the price of SHIA is not the only one that tumbled lately. Many meme coins saw a similar fate, especially PEPE, which has seen massive dumps over the last week. The token was dumped by multiple whales, who either sold it or converted it to other cryptocurrencies.
Even so, it would be wrong to say that the current market targets meme coins, as some perform better than others.
Shiba Saga’s recent price surge makes it hot pair
Before its recent crash, SHIA saw quite a decent performance, as we have seen. It sought to make a mark as one of the most successful meme coins, and it managed to do quite well, even becoming one of the hot pairs on DEXTools — a platform that monitors crypto trends.
However, as we went deeper into September, the token’s pair dropped from the higher position to positions 6 and 8, eventually dropping from it entirely as its price started to spiral down.
Some posts on X from less than a month ago revealed that the community had high expectations from SHIA, but unfortunately, its value did not manage to resist the bearish market.
Pepe can't 1,000x from here@Shibasagaio can.
8:28pm Dubai time.
2h 35m from now
— ⭕️ Carlos👌🏼ROcelote (@Carlos_ROcelote) August 22, 2023
Still, SHIA can and likely will make a comeback once the market trend shifts again at some point in the future. For now, it still offers opportunities for day traders and is worth considering.
Wall Street Memes is only two weeks away from listing
One example of a meme coin that thrived this summer is Wall Street Memes (WSM). Inspired by Reddit’s legendary amateur investor groups, the WallStreetBets, the project was popular during its presale. This popularity allowed it to raise over $25 million, and even now, its token is still available for purchase for only $0.0337 per unit.
The presale is in its final stage, which will remain until listing, which is scheduled to happen in 15 days. Anyone interested in buying the token can do so with ETH, USDT, BNB, or credit/debit card.
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