CandleFocus 20 Trillion SHIB Next as Shiba Inu Price Drops 6%: Details
2024-12-22
Author: Content Editor
The price of Shiba Inu (SHIB), a dog-themed cryptocurrency, has dropped from recent highs due to broader caution in risk assets. After a four-day drop, SHIB experienced a rebound but met resistance and began losing strength. The decline in Bitcoin and other cryptocurrencies also impacted SHIB. The market slide led to the liquidation of $336 million in crypto positions, with bullish bets accounting for the majority. The Federal Reserve's signaling of lower interest rate decreases affected equity and crypto markets. Currently, SHIB's price is down 7.29% in the last 24 hours. The next key support levels for SHIB are around $0.000019 and $0.00002, where a significant amount of tokens are held. If these support levels hold, they could stabilize the price. Large transaction volume in SHIB has decreased, suggesting cautiousness among whales.
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