Why Shiba Inu Is Crashing Today?

Why Shiba Inu Is Crashing Today?
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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 is Neutral

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 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

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. 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. This turns out to be worst-case as once the Shiba Inu trading value rises again, the big investors may start offloading once again.

The offloading may push the price of Shiba Inu further down.

3. Most Rumors have turned out to be False

Whether it is the Kraken or Robinhood listing news and rumors, none of them have really materialised. So any rise in prices have not received the support of really positive news

Here is the latest Momentum Summary (Nov 19th)

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Shiba Inu Price Prediction


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