Shiba Inu Coin is Up 4% After Yesterday’s Crash

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Shiba Inu coin is up 4% after yesterday’s downfall with platforms showing the coin is trading at an average of $0.000037.  This comes after the market woke up to a cryptocurrency crash yesterday.

Yesterday, almost all major currencies were recording double-digits fall with dips of up to 20%. This is a reminder of the risk cryptocurrencies holds due to their high volatility nature.

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This dip caused over 300 billion dollars in market wipe off.

However, most currencies are in the green today with others such as Bitcoin recording a 4% rise while Ethereum has a 6% rise.

Why the Market Crashed?

There is no specific reason attributable to the overall market crash. This is mainly because cryptocurrencies don’t follow the normal market rules. They tend to have a homogeneous effect where a crash on one major currency results in a crash in almost the rest.

The global market is also battling several issues that could have some effects on these financial assets. Some of these include the rising inflation rates and resurgence of the Corona Virus “Omicron variant”

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Stock markets are also trading lower than last month with an average of 4% dip.

Regulation Effects

Some regulatory activities such as the

  • Total ban of cryptocurrencies by China
  • India threats to impose a ban
  • United States crypto regulation proposal

Could also be a contributor to the recent crash. These are some of the biggest crypto markets in the world and hence any negative news in one of them affects the market.

However, there has been reprieve by India after resulting to regulation and not banning.

For a long time, cryptocurrencies have been operating in a free market void of restrictions. This has made them thrive due to some approaches that are impossible in the traditional markets such as Forex and Stock.

Although regulations are key in ensuring order and legality in these financial markets, they could also slow or limit innovation and progress. This is more pronounced when you remember these assets are competitors to government-controlled fiat currency.

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Why Shiba Coin is Rising

With the coin recording a 4% gain today, several factors could be contributing to this rise such as investors buying at low prices.

Recently, there has been increasing whale activity with investors rushing to acquire more coins at low prices. This is key considering the coin is trading over 60% lower from its last all-time high.

For investors, this is a key opportunity to buy in anticipation of a future rise that is inevitable.

Shiba has also announced various projects that could drive its future growth. Among them is the Shiboshi games metaverse. A key venture that could make the coin among market leaders in the metaverse industry.

Future of the Shiba Inu Coin Price

It is still early to make a call whether the recent selling momentum is done. However, the market remains volatile and unsettled. The days ahead will be full of alternating market takeovers with both buyers and sellers trying to regain control.

In the long term, the odds are in favor of buyers. Hence, this could be a setup for another rally to the upside.

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