Shiba Inu (SHIB) price melts after setting current all-time high. SHIB has halved its price in less than a week. So what is the reason for this?
Shiba Inu halved its price in less than a week
After a steep rise, the Shiba Inu (SHIB) is down 51% from its all-time high of $0.000086 set on Oct. 29. So what are the possible reasons behind today’s sales? The Shiba Inu is of course not the only cryptocurrency currently facing pressure.
Leading cryptocurrency Bitcoin (BTC) is trading near daily lows as bulls struggle to hold on to the crucial $60,000 level. Dogecoin (DOGE) is also down 6% in the last 24 hours. cryptocoin.com As a result, we analyzed the reasons for the decline of SHIB. Here are the possible reasons behind the recent crash…
Here are the reasons for the Shiba Inu (SHIB) collapse!
After experiencing a moderate correction over the weekend, the Shiba Inu started the new week on a high note. On Monday, SHIB revisited the $0.000075 level after the Kraken exchange promised to list the coin on Tuesday. The trading platform, however, backed out on the plan, claiming that it will continue to consider listing in the future. Robinhood has yet to break the record for permanent listing rumors, although it has dropped some hints.
The Shiba Inu is taking a step back after seeing a massive rally in October and delivering life-changing gains to some of its owners. Last week, Coinbase announced that the average holding time for the SHIB token is just 11 days, which means there isn’t a strong HODL mentality in the community yet. Therefore, many investors look for opportunities to make a profit. The biggest Shiba Inu whale’s transfer of wealth to different addresses on Tuesday also frightened some Shiba Inu owners.
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