While most meme coins have booked double-digit losses in the past day, Shiba Inu (SHIB) has retreated by just 3.5% as its loyal community seems to have decided to hold on to their tokens no matter what.
The combined market cap of the top 100 meme coins has dropped by 8.6% in the past 24 hours as per data from CoinMarketCap and currently sits at $45 billion. This is the lowest that the market value of this entire category has gone since October last year.
By now, all of the gains that meme coins saw after President Trump’s victory in the U.S. Presidential election of November last year have evaporated.
Top tokens like Dogecoin (DOGE) and Pepe (PEPE) have lost 8.4% and 14.3% in the past day, respectively, while mid-tier assets like SPX6900 (SPX) and ai16Z have dropped by 17.4% and 21%, respectively.
President Trump’s tariff announcement yesterday plunged crypto prices as market participants fear that these measures could result in higher inflation in the United States in the next few months.
This policy change will be implemented almost immediately, meaning that it won’t take long for its impact to be felt across different sectors.
The Federal Reserve could opt to either postpone or discard its planned interest cuts for the year as they wait and see how these new tariffs will affect the country’s economy.
The market was expecting two interest rate cuts this year, but it may now change its baseline scenario. This often results in a downturn for financial assets until investors adjust their forecasts.
When to Buy SHIB? Shiba Inu Could Drop by Another 11.5%
Shiba Inu has one of the strongest ecosystems in the meme coin space. It includes a decentralized exchange, non-fungible tokens (NFTs), blockchain-based games, and a huge community with millions of followers across social media platforms like X.
Long-term $SHIB holders collectively own more than 80% of the total supply.
This indicates that even amid challenges in the memecoin market, many $SHIB holders remain optimistic. pic.twitter.com/JTnHS2TIjq
— IntoTheBlock (@intotheblock) April 2, 2025
In addition, data from IntoTheBlock shows that Shiba Inu long-term holders have amassed nearly 80% of the token’s circulating supply and have not let go of much of it despite the market’s downturn.
This explains why SHIB’s decline this year has been milder at 42.1% compared to other tokens like Pepe, which dropped by 67.2% during this same period.
A strong community and a solid number of long-term holders are two compelling reasons why SHIB could be one of the best meme coins to buy while the market crashes.
Meanwhile, the daily chart shows that SHIB has dropped below the 61.8% Fibonacci retracement level of its latest uptrend, meaning that this is no longer a continuation retrace but rather a full-blown trend reversal.
Momentum indicators confirm a bearish short-term outlook for SHIB as the Relative Strength Index (RSI) has dropped below the signal line while the MACD’s histogram shows that negative momentum has accelerated today.
Moving forward, the token could drop to its nearest support level at $0.00001080 meaning a downside risk of 11.5%.
This would provide a better entry price for SHIB investors who would like to join its army of loyal long-term holders.
The Solana ecosystem is much stronger than Shiba Inu’s, but its layer-one blockchain has faced severe congestion issues during peak usage times.
Solaxy (SOLX), a layer-two scaling solution for Solana, is the best crypto presale in the meme coin space to buy as it has a strong use case and a powerful value proposition.
Best Meme Coin to Buy in Presale: Solaxy (SOLX) Raises Over $29M for its L2
Solaxy (SOLX) has rapidly earned the title of best crypto presale of the year as it has raised over $29 million just a few months after its launch.
Its layer-two protocol fixes the congestion issues that the Solana mainnet has experienced in past instances by bundling transactions offline in a side chain.
The developing team has made significant progress during the solution’s test phase and they should be ready to launch the L2 after the presale ends.
$SOLX is the native asset of the Solaxy L2. Once top wallets and exchanges embrace the solution, the demand for this token will likely rise.
This gives early buyers a unique opportunity to reap the highest returns by buying $SOLX at its presale price of $0.001684.
To buy $SOLX, simply head to the Solaxy website and connect your wallet. You can either swap USDT, SOL, or ETH tokens or use a bank card to make your investment.
