SHIB Slumps 93% From ATH as Bulls Struggle to Regain Control

• SHIB price fell 93% from its all-time high, losing most of its previous momentum.

• Holder growth continues, with new wallets joining despite weak market conditions.

• Bulls are struggling to regain control, but on-chain signals suggest potential long-term recovery.

Shiba Inu once captured massive attention during a powerful rally. That momentum has faded, leaving many holders uncertain. Price now sits far below previous highs, reflecting weaker sentiment. Still, some signals suggest quiet accumulation continues. New wallets keep joining despite the downturn. This mix of fading hype and steady interest creates a complex outlook. Traders now watch closely for signs of strength returning in the months ahead.

🩸NEW: $SHIB WHALES ACCUMULATE BUT ASSET STILL DOWN 93% FROM ATH

Shiba Inu whales are actively accumulating despite ongoing price weakness.

In late March 2026, roughly 30 billion $SHIB were withdrawn from exchanges, cutting platform holdings to about 81 trillion tokens and… pic.twitter.com/RuXMx8UuT0

— BSCN (@BSCNews) April 7, 2026

From Explosive Growth to a Long Decline

SHIB reached a record high of $0.00008854 in October 2021. Market cap climbed past $54 billion during that surge. Retail demand pushed the token ahead of Dogecoin for a brief period. Strong optimism drove that rally across the broader market. Price now trades near $0.00000613 after a steep fall. This drop reflects a 93% decline from peak levels. Early buyers still hold large gains from initial entry points.

Late entrants, however, face deep losses at current prices. Supply changes played a major role in early growth. Developers sent 500 trillion tokens to Vitalik Buterin in 2021. He burned 410 trillion and donated the rest. This move removed a large portion of supply and fueled demand. The broader market downturn in 2022 added pressure.

Meme coins lost strength as risk appetite faded. Shiba Inu dropped further and added another zero by mid-2023. Weak sentiment continued across similar tokens during that period. Price action during the current cycle remains underwhelming. While Bitcoin reached new highs, SHIB failed to follow. A peak near $0.00004567 fell short of the previous record. Sellers regained control as momentum faded again.

Holder Growth Keeps Long-Term Hope Alive

Despite weak performance, network growth shows resilience. Thousands of new wallets join the network each month. Estimates range between 5,000 and 12,000 new users monthly. This trend suggests continued interest beneath the surface. Total holder count has expanded sharply within a year. Numbers grew from 1.5 million to 2.93 million addresses. This increase came during a notable price decline.

Such growth often signals long-term belief among participants. Market analysts continue to watch for recovery signals. Some expect stronger rallies if buying pressure returns. MMBTrader shared a possible upside scenario earlier this year. He pointed toward $0.00007730 as a potential target. A recovery would require stronger demand and broader market support. Meme coins often rely on sentiment and social activity.

If the current conditions improve, SHIB could benefit from renewed attention. Until then, accumulation remains the key theme. Shiba Inu dropped sharply after a strong 2021 rally. Weak sentiment continues to pressure price performance. Holder growth suggests steady interest despite market decline. Future recovery depends on demand and improved market conditions.