Shiba Inu Crash: Why SHIB Plummeted 15% in 24 Hours

Why did Shiba Inu (SHIB) crash? One of the most prominent meme coins, Shiba Inu saw the value of SHIB drop as much as 15% in the last 24 hours. Although it has recovered slightly, the asset is still continuing its sharp decline. Let's delve into the potential reasons behind this sudden downturn.

What Caused the SHIB Dip?

SHIB exhibited notable volatility over the 24-hour period. Several factors could be contributing to the selling pressure. Shiba Inu is one of the most famous meme coins, and the value of SHIB has fallen by 15% in the past 24 hours. Although it has recovered slightly, the asset is still continuing its sharp decline. This often happens with meme coins, as they are largely driven by community sentiment and social media hype, making them more susceptible to drastic price swings.

One factor to consider is Shiba Inu has established a resistance zone around $0. $0. Failing to break through this resistance could have triggered sell-offs. Another metric to observe is liquidations: There have been $2.31 million in liquidations of SHIB in the last 24 hours. But that's just 0.3 percent of the $679 million in market liquidations altogether. Selling pressure, overall market trends, and profit-taking by early investors can all amplify these fluctuations.

Is This the End for SHIB?

A 15% drop is significant, but it's important to remember that the cryptocurrency market is inherently volatile. Whether this marks a longer-term decline or a temporary correction remains to be seen. Investors should always conduct thorough research and understand the risks involved before investing in any cryptocurrency, especially meme coins like Shiba Inu. Stay updated on market news and analyze price charts to make informed decisions. One of the most prominent meme coins, Shiba Inu saw the value of SHIB drop as much as 15% in the last 24 hours. Although it has recovered slightly, the asset is still Hace 3 días.