\n<\/p>\n
\n\t\t\t\t\t\t\t\t\t“Shib is old, dead and boring. Maybe in 5-10yrs a bit of nostalgia will bring it back,” James Wynn stated.\t\t\t\t\t\t\t\t<\/p>\n<\/p><\/div>\n
The self-proclaimed Dogecoin killer followed the red wave sweeping through the broader crypto market, with its price collapsing to its lowest level since May 2021.<\/p>\n
In a sudden twist of events, though, it reclaimed its position as the second-biggest meme coin.<\/p>\n
SHIB has slipped by another 15% over the past week and currently trades at around $0.000004104 (per CoinGecko). Perhaps the most evident reasons for the pullback are the bearish conditions across the entire market and waning interest in the meme coin niche.<\/p>\n
Other potential factors include the recent whale activity. The X account BSCN revealed<\/a> that a Shiba Inu investor who purchased 17.4% of the token\u2019s supply in August 2020 for less than $14,000 has moved 600 billion SHIB (worth $2.83 million) to a ForwarderV4 address.<\/p>\n While some interpreted the move as a pre-sale step, BSCN clarified that nothing has been confirmed yet and promised to unveil further details in time. The X account also noted that the whale\u2019s position was worth a whopping $9.1 billion when SHIB\u2019s price reached an all-time high in 2021.<\/p>\n Speaking on the meme coin was also James Wynn. The trader, known for his highly risky crypto bets, described<\/a> the asset as \u201cold, dead, and boring,\u201d predicting a potential revival in 5-10 years when \u201ca bit of nostalgia\u201d can bring it back.<\/p>\n Despite its price slump, SHIB has once again secured its position as the second-largest meme coin. This happened after MemeCore (M) nosedived<\/a> by 76% in a single day amid allegations of manipulation. Dogecoin (DOGE) remains the undisputed leader of the niche with a market capitalization of almost $11.5 billion, while SHIB has less than $2.5 billion.<\/p>\n The crypto market\u2019s conditions remain<\/a> unstable (to say the least), which could result in further declines for SHIB in the near term. The rising amount of tokens stored on crypto exchanges is another bearish factor.<\/p>\n Earlier in June, the figure dropped<\/a> to a five-year low, but since then it has headed north sharply, suggesting that investors have been abandoning self-custody solutions and moving to centralized platforms, thereby increasing the likelihood of an additional sell-off.<\/p>\n \u00a0<\/p>\n LIMITED OFFER for CryptoPotato readers at Bybit: Use this link<\/a> to register and open a $500 FREE position on any coin!<\/b><\/p>\n<\/div>\n<\/div>\nYou may also like:<\/h3>\n
More Pain Ahead?<\/h2>\n
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![<\/a>SHIB Exchange Balance, Source: CryptoQuant<\/figcaption><\/figure>\n\u00a0<\/p>\n\nSPECIAL OFFER (Exclusive)<\/span><\/center>\nBinance Free $600 (CryptoPotato Exclusive): Use this link<\/a> to register a new account and receive $600 exclusive welcome offer on Binance<\/b> (full details<\/a>).<\/p>\nLIMITED OFFER for CryptoPotato readers at Bybit: Use this link<\/a> to register and open a $500 FREE position on any coin!<\/b><\/p>\n<\/div>\n<\/div>\n<\/p><\/div>\n\nSource link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":" “Shib is old, dead and boring. Maybe in 5-10yrs a bit of nostalgia will bring it back,”…\n","protected":false},"author":2,"featured_media":44977,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-44976","post","type-post","status-publish","format-standard","has-post-thumbnail","category-crypto","cs-entry","cs-video-wrap"],"_links":{"self":[{"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/posts\/44976","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=44976"}],"version-history":[{"count":0,"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/posts\/44976\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/media\/44977"}],"wp:attachment":[{"href":"https:\/\/financialrush.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=44976"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=44976"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=44976"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}](\"https:\/\/cryptopotato.com\/wp-content\/uploads\/2026\/06\/SHIB-Exchange-Balance.png\"){kind=link}