Shiba Inu is struggling to buck the broader bearish trend, with its value now slipping below $6 billion
The market capitalization of Shiba Inu (SHIB) is down 5.8% over the past 24 hours, according to CoinGecko data.
The second most popular cryptocurrency is now valued at less than $6 billion.
SHIB is now down 88.20% from its all-time high of $0.000086 which was achieved last October.
As reported by U.Today, the price of Bitcoin recently crashed to a new yearly low of $17,114 due to the FTX contagion.
The total crypto market cap now stands at $954 billion,