CandleFocus Shiba Inu (SHIB) Suffering From 'Tremendous' FUD
2024-09-11
Author: Content Editor
The analytics platform Santiment has reported that meme cryptocurrency Shiba Inu (SHIB) is currently experiencing significant fear, uncertainty, and doubt (FUD). This is supported by the fact that wallets holding less than one billion tokens, indicating retail investors, have decreased to their lowest level since November 2022. The majority of SHIB tokens are held by large whales, indicating a high level of centralization. Furthermore, SHIB has seen a decline in social media interest and has been outperformed by other meme cryptocurrencies and even Litecoin in terms of trading volume. However, Santiment suggests that SHIB may perform relatively well once Bitcoin resumes its rally. On the other hand, Santiment states that there are no signs of FOMO (fear of missing out) in Dogecoin, but retail market participants remain indecisive about the meme coin.
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