New Meme Coins Defy Bear Market as Shiba Inu Slips 6%!

• Shiba Inu (SHIB) price dropped by 4.69% in the last 24 hours as part of a wider bearish sentiment amongst meme coins.
• Dogecoin and Pepe were down 6% and 10%, respectively, in the same period.
• However, newer low-cap meme coins such as Shibie Coin and Wall Street Memes have been unaffected by the market downturn.

Shiba Inu Price Slips Over 6%

Shiba Inu (SHIB) price has slipped over 6% in the last 24 hours amidst a bearish sentiment across major meme coins. Dogecoin and Pepe are also down by 6% and 10%, respectively, in the same period.

Mainnet Release Stalls

The recent drop is believed to be due to Shiba Inu’s mainnet release stalling over the weekend, causing a selloff that pushed SHIB from $0.00001035 on 5 August to $0.0000092 today. The project had previously generated significant excitement within the community which caused an increase in price but this momentum appears to have stalled for now.

Bearish Sentiment Across Market

The current market downturn is likely linked to a general bearish sentiment across all meme coins as other top ones such as Dogecoin and Pepe have also seen drops in their prices over the past week. Moreover, if we zoom out to look at SHIB’s one-year chart it is evident that its overall direction is bearish with 23% losses over this period and 89.64% from its all-time high (ATH). This suggests that any bullishness may have been fuelled only by fear of missing out (FOMO).

Newer Tokens Defying Bear Market

Countering this trend are newer low-cap meme coins such as Shibie Coin and Wall Street Memes which have carried on unfazed despite broader market conditions being generally bearish. This could be indicative of investors looking beyond established projects towards smaller tokens with potential for greater returns should they take off, or it could simply be that they haven’t yet been affected by wider market sentiments given their lower capitalization levels than more well-known assets like SHIB or DOGE..


Overall, Shiba Inu has seen significant losses over both short and long terms while some newer tokens appear immune so far from broader macro conditions affecting major crypto assets like SHIB or DOGE . Whether these newer tokens can continue to defy gravity remains to be seen but given their smaller capital base compared with more established rivals they may not suffer from FOMO driven pumps or dumps that come with larger markets caps like SHIB’s..