shiba inu coin dropping

Therefore, a declining TVL on Shiba Swap indicates a reduction in supply secured by the platform.

Shiba Swap TVL

410.36 trillion Shiba Inu tokens burned, no recovery in sight

Data from Shiba Inu’s burn portal Shibburn revealed that 410.36 trillion SHIB tokens had been destroyed. Typically, a shrinking circulating supply fuels recovery in the price.

However, despite a rapid decline in the circulating supply of the meme coin, there has been no recovery in Shiba Inu’s price. The meme coin has witnessed a consistent price drop, despite the destruction of 5.4 billion SHIB tokens on Friday.

Dogecoin price could recover with declining trend exhaustion

Analysts evaluated the Dogecoin price drop and predicted a recovery in DOGE.

Shiba inu coin dropping


At press time, active withdrawals were 23 transactions on a seven-day moving average.

This is sharply down from active withdrawals of over 1,700 on a seven-day moving average in November 2021.

This sharp decline in active withdrawals indicated fewer SHIB transactions involving withdrawals from exchanges. This means that exchange participants kept their SHIB on exchanges to sell rather than move it into private wallets.

This potentially could indicate that selling momentum rose in the meme coin’s markets.

But there’s a good news

SHIB witnessed significant demand, especially from Ethereum whales.

Gimli, one of the 10 richest Ethereum whales, increased the amount of SHIB tokens in its account.

Shiba inu coin dropping today


Currently, Shiba Inu has the support of $0.000047 and if the support declines further, there are chances of Shiba Inu crashing massive. Currently, as per FxEmpire Shiba Inu must hold key support to avoid total capitulation, which is $0.000040. If Shiba Inu fail to maintain this support, the coin may lose over 80% of its current value.

2.
Whales Selling Excessively

The recent rise of Shiba Inu was triggered by Shiba Whale pumping massively, however, as the price started rapidly, the Whales made a huge profits, therefore, the big whales dumped heavily and made huge profits out of it. Currently, the whales According to data from coinmarketcap.com, just 10 investors control a jaw-dropping 66% of the total Shiba Inu supply.

Shiba inu coin drop a zero


Shiba has also failed to make any gain and there are chances of it crashing further.

Looking at the current situation, Shiba Inu may fall $0.0004

Here are the few reasons Why Shiba Inu Is Crashing Today:Why Shiba Inu Is Crashing Today?

  1. Crash of Cryto Market

In recent trends, Shiba Inu has behaved opposite to the cryptomarket’s momentum, particularly Bitcoin. However, this time Shiba Inu has fallen in accordance to cryptomarket. Almost all the cryptocurrencies including Bitcoin crashed.
The main reason for crypto market crash is attributed to the Chinese crackdown. The Chinese government has vowed to increase its crackdown on Crypto hoarding as well as mining. This news led to a bloodbath in the crypto market.

2.
Declining Support

Shiba Inu has failed to maintain its support in the last few days.

Shiba inu coin falling

  • Meme coins Dogecoin and Shiba Inu prices have plummeted 80% from their all-time high in the ongoing bear market.
  • 410.36 trillion Shiba Inu tokens have been burned so far, failing to fuel a recovery in SHIB price.
  • Analysts believe trend exhaustion is low and Dogecoin is ready to make a comeback to the $0.13 level.
  • Dogecoin and Shiba Inu witnessed a massive price drop in the recent bloodbath that hit the cryptocurrency market. Meme coins wiped out their gains, plummeting from their all-time highs, while investors poured capital into social tokens.

    Dogecoin and Shiba Inu prices nosedived 80%

    The cryptocurrency market has been in decline for an extended period.

    Shiba inu coin falling down

    Shiba Inu Price Prediction and Forecast: For the next 24 hours the price of Shiba INU is predicted to be in the range of $ 0.000040 and $ 0.000046. Overall Recommendation for next 24 hours isNeutral

    Here is Why Shiba Inu Is Crashing Today

    Shiba Inu touched an all-time high of $0.000088 in October. However, since then Shib token has lost almost all the gains that it had made last month.
    The price of Shiba Inu has been between $0.000050 and $0.000055 in the last few days. However, since Tuesday, Shiba has fallen below $0.00005.

    Shiba inu coin losing

    Meme coins like Dogecoin, Shiba Inu, Floki Inu, Dogelon Mars and Baby Doge have shed over 80% of their value since their all-time highs.

    While Shiba-Inu-themed cryptocurrencies wiped out their gains, social tokens in sports entertainment witnessed a rise in popularity. Multiple fan tokens, Paris Saint-Germain (PSG), Juventus (JUV), FC Barcelona (BAR), AC Milan fan token (ACM), and FC Porto (PORTO), have posted massive gains since May 18, 2022.

    Investors have turned to entertainment in times of crypto bloodbath and market turmoil, rooting for their favorite football club.

    Fan tokens witnessed three-digit gains over the past week

    The Total Value Locked in Shiba Inu’s DeFi platform Shiba Swap has consistently plummeted since July 2021. Total Value Locked represents the number of assets being staked on the DeFi platform.

    Shiba inu coin losing value

    Shiba Inu [SHIB] continues to see unprecedented demand from whales despite the bearish market. However, fundamentals on-chain metrics still paint a grim scenario whatsoever.

    All bark and no bite?

    SHIB hasn’t been able to recover its seven-day losses while most of the top 20 coins have successfully done so. The meme token was 4.95% down over the week.

    At press time, the #16 largest token barely saw any price uptick as per data from CoinMarketCap.

    It traded along the same old ‘consolidated’ $0.00001 mark. Clearly, something isn’t going SHIB’s way here.

    Shiba Inu had an amazing 2021 run. However,its fortune is declining due to a decrease in interest in the token.

    Shiba inu coin keeps dropping

    This is because of the extreme volatility in the industry.

    If you aren’t careful – you could lose a lot of money quickly.

    For instance with Shiba, before October, its previous high was $0.0000388 in May 2021.

    However, it plunged 85% from that point in July 2021.

    Plus, Shiba launched trading just last August. Newer cryptocurrencies are riskier than those that have been around for longer, such Bitcoin, and could make you more vulnerable to scams.

    The main thing to know about Shiba is that it’s widely known as a meme coin. A meme coin typically gains off a social media or internet-based joke.

    For example, a big rally last month started when billionaire Elon Musk posted a picture of his Shiba puppy on Twitter.

    Shiba inu coin price drop today

    Shiba.

    Will Shiba Inu hit $0.10 this year?

    Overall, it’s difficult to predict how Shiba’s price will change in the future due to a wide number of factors affecting it.

    This includes regulatory crackdowns around the world, and comments by high-profile individuals such as Musk, and other developments.

    Mrs Tatibouet noted that it’s tough to predict what the “community” will do next.

    She said: “Are we going to eat up more zeroes or are we going to crash and burn?”

    While Shiba could surge at any time, currently it remains stuck in volatility.

    Meanwhile, there’s optimism that the meme coin will be listed on Robinhood.

    This is over a petition getting launched this year on Change.org to “Kindly request of Robinhood to list Shiba Inu coin!”

    Recently, the petition has surpassed more than 554,000 signatures.

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