Shiba Inu price plunged toward $0.000025 on Wednesday, losing 20% since December 9. Solana meme coins like Fartcoin (FART) and Goatseus Maximus (GOAT) have dominated the meme coin sector since the market rebound began. On-chain data shows an 83% decline in SHIB whale transactions exceeding $100,000 between December 9 and December 18. Shiba Inu price opened trading at $0.000026 on Wednesday, its lowest opening price in 20 days dating back to November 29.
On-chain data shows SHIB token struggling to attract whale demand as Solana memes dominate social channels. Shiba Inu price plunges 20% despite crypto market recovery Following the flash crash triggered by rising geopolitical risks on December 9, positive macroeconomic indicators in the US have lifted demand for crypto assets. However, while top assets such as Bitcoin, Ripple (XRP) and Cardano (ADA) have recorded double-digit gains since December 10, Shiba Inu price has headed in the opposite direction. Shiba Inu Price Action | SHIB/USDT, (Binance) The SHIB/USDT daily price chart shows how SHIB price has failed to join the crypto market recovery phase over the past week. As depicted above, SHIB price has tumbled 20% from $0.0000032 in December to hit the $0.000025 level at press time on Wednesday. Shiba Inu whale demand declines 82% amid Solana meme dominance Since December 10, Solana memecoins have attracted substantial capital inflows, overshadowing legacy memecoins like Shiba Inu (SHIB) and Dogecoin (DOGE). Notably, Fartcoin (FART) surged in prominence, adding over $600 million to its market cap, while Goatseus Maximus also posted significant gains. This appears to have negatively impacted whale demand for legacy memecoins like Shiba Inu and Dogecoin. IntoTheBlock's data underscores this shift, revealing a sharp decline in SHIB’s large transactions. The large transactions chart below shows the daily number of single trades that exceed $100,00