PURWOKERTO PORTAL – Price Shiba Inu has been making moves of late, hitting an all-time high of $0.00008876 last week and breaking into the top ten to leapfrog Dogecoin in the process.
However, since then the momentum for the meme coin has slowed considerably, triggering a sell-off that bottomed out at $0.00004264 on Thursday – a 52% decline in seven days.
Given the severity of the decline and at a time when large caps including Bitcoin have largely stabilized, critics have called this a turning point for worse things to come. But are they right?
Price performance Shiba Inu in October surprised the naysayers by closing the month up 730%. Analysts say this is mainly due to rumors about Robinhood and Kraken listing the $SHIB token. But, so far, the rumors have failed to materialize.
This week, things got even worse when an investor with holdings Shiba Inu big ones move billions of $SHIB tokens.
This sparked fears of a large-scale exit. What’s more, the incident highlighted the issue of the city’s dominance in the ecosystem Shiba Inu.
Also Read: Is Shiba Inu really controlled by the city? Reveals ‘Doge Killer’ Rally Transaction
Towards the end of October, it became known that a trader had invested $8,000 into $SHIB last August, which has since grown to a whopping $5.7 billion.
– .
