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Shiba Inu, Cardano, BNB, LINK, DOGE prices crashed: buy, sell, or hold?

by admin April 7, 2025
April 7, 2025
Shiba Inu, Cardano, BNB, LINK, DOGE prices crashed: buy, sell, or hold?

The crypto market has crashed, leading to a $1.5 trillion wipeout, with the total market cap of all coins plunging to $2.37 trillion. Bitcoin dived to $75,000, while Ethereum plunged to $1,445.

Other large altcoins like Cardano, Shiba Inu, Binance Coin (BNB), Dogecoin (DOGE), and Chainlink (LINK) have all plunged by double digits in the past 24 hours. So, with crypto prices falling, is it safe to buy the dip or just sell?

Why altcoins like Shiba Inu, Cardano, BNB, DOGE, and LINK crashed

Most altcoins have plunged by over 70% from their November highs. Shiba Inu price tumbled to a low of $0.00001047, down by almost 70% from its highest level last year. This simply means that a $1,000 invested in SHIB at its peak is now worth just $3,000.

Cardano price has tumbled to a low of $0.52, down by 60%, while the Binance Coin and Chainlink plunged to $518 and $10.15. All the other tokens, like Berachain, AAVE, Litecoin, XRP, Dogecoin, and Ethereum, have also imploded in the past few months. 

These altcoins have plunged for three main reasons. The first one is that market participants have become highly fearful because of Donald Trump’s tariffs and the slowing artificial intelligence (AI) industry. 

Trump announced a series of tariffs on all American trading partners. While most countries received the minimum tariff rate of 10%, the most significant ones will pay a higher price. China’s tariffs rose to 34%, while the European Union jumped to 20%. 

These tariffs means that the US may go through a recession in the coming months. In the worst case scenario, the country may go through stagflation, where a slow economic growth happens in a high inflationary period. Recent data showed that the US inflation remains above 3%, much higher than 2%, where the Fed believes is comfortable. 

Second, Shiba Inu, Cardano, and other altcoins plunged as investors sold the news following Trump’s election and inauguration. Most of these tokens jumped sharply after Trump was elected the next US election. They then dropped once he stepped into the White House. 

Third, these coins have crashed as investors have rotated from stocks to gold. Gold price has soared to a record high.

SHIB vs LINK vs ADA vs BNB vs DOGE chart | Source: TradingView

Is it safe to buy, hold, or sell these altcoins?

Now, with these altcoin prices crashing, crypto investors are worrying about whether to buy, hold, or sell their coins.

Analysts caution investors with no exposure to Bitcoin and other altcoins to remain in the sidelines as the crash may go on for a while. The alternative is where these investors use the dollar cost averaging approach to investing in these assets. DCA is an approach where one buys an asset continously as its price crashes. 

For investors already holding these assets, exiting now would point to a substantial loss since they have already crashed hard. As mentioned, a $10,000 investment in most altcoins has dropped to below $3,000. Holding these assets means that they will benefit when the prices bounces back. 

There are odds that these altcoins will bounce back over time. That’s because the crypto market has had such drawdowns in the past. For example, Bitcoin plunged to below $4,000 in 2020 at the onset of the pandemic and then roared back. Other tokens did worse.

A potential catalyst for these altcoins will be an intervention by the Federal Reserve, which may decide to cut interest rates soon. Such an easy money policy has helped these altcoins and other risky assets in the past. 

The post Shiba Inu, Cardano, BNB, LINK, DOGE prices crashed: buy, sell, or hold? appeared first on Invezz

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