Cryptocurrency Live News & Updates : Shiba Inu Price Faces Potential Volatility Ahead

Shiba Inu (SHIB) has experienced a notable price drop of over 3% recently, mirroring trends seen in major cryptocurrencies like Bitcoin and Ethereum. This decline is accompanied by a significant reduction in whale activity, with top investors now holding 45 billion SHIB coins, down from 47.6 billion last month. The lack of movement in whale holdings suggests growing concern over SHIB’s future, especially following a 60% crash from its November highs. Additionally, the Shibarium layer-2 network, designed to enhance SHIB’s utility, is struggling with low activity, as evidenced by a total value locked of just $1.79 million. In contrast, BNB has shown resilience, trading at 881.17 USDT with only a minor decrease of 0.09% in the last 24 hours. As SHIB consolidates around key moving averages, it forms a symmetrical triangle pattern, indicating potential volatility ahead. Investors are closely watching for a breakout that could either push the price to $0.00001600 or drop it to $0.00001015, making the upcoming days critical for SHIB’s trajectory.

Show more Show less