After the correction and consolidation of the global market, the SHIB price fell by about 50% after reaching the new ATH but then recovered by more than 40%. According to Watcher Guru, high volatility, and high inflation have once again made Shiba Inu one of the best trading currencies.
Along with BNB, BTC, and Ethereum, Shiba Inu has entered the top five in CoinMarketCap’s daily trading volume coins. Traditionally, the USDT topped the list with a trading volume of $76 billion. Shiba Inu has reached a trade volume of $12.2 billion in the last 24 hours.
Again, Shiba is attracting the interest of additional investors through volatile price movements. In addition to losing almost half of the value of the last rally, retailers are still more interested in buying tokens based on specific memes.
While the on-chain data indicates that the percentage of short-term holders has reached almost 40%, which is generally considered a volatile factor. As the number of short-term holders increases, the market is likely to face unexpected selling pressure as short-term targets generally fall short over long-term investor profit expectations.
As of now, SHIB is trading at $0.000057. It is up by 0.37% in the last 24 hours, the total loss from ATH is now at 33%. Earlier it was 59% although due to volatile behavior, SHIB has gone into the 8-80% range every day for the past two weeks.
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