Shiba Inu Is Down 50 Percent From the Last Peak! Here Are the 3 Reasons Behind the Decline

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The popular joke currency is Shiba Inu (SHIB), after a sharp rise, experienced a decline of approximately 51% from the all-time high of $0.000086 set on October 29.

Shiba Inu is Down 50%

Shiba Inu (SHIB), which recently overtook the popular crypto currency Dogecoin in terms of market capitalization, has again experienced a recent decline THE DOGEyou fell behind the .

Popular joke currency SHIB, has been experiencing a sharp decline over the past week and has lost more than 50% in value so far. So much so that Shiba Inu recorded an intraday low of $ 0.00004312 before offsetting some losses on the world’s largest cryptocurrency exchange.

11 According to the market ranking. the biggest cryptocurrency Shiba Inu (SHIB) has recorded a decrease of 15.71% in the last 24 hours, according to CoinMarketCap data, and continues to see trading at $ 0.000047.

Why is Shiba Inu Falling

Although it is not known whether Shiba Inu will start a rally again, behind the scenes of the sharp decline in the crypto currency, the weakness in the crypto currency market, Kraken’s Shiba Inuit includes the fact that it does not list and investors continue to buy profits;

Popular joke currency Shiba Inu, of course, is not the only crypto currency that is currently facing pressure. So much so that the crypto currencies that have experienced an increase in the top 10 as of the moment the content was written Binance Coin and Solana It has happened.

The flagship cryptocurrency Bitcoin (BTC), trading near their daily lows as the bulls struggle to hold on to the significant $60,000 level.

Which is the original joke currency Dogecoin (THE DOGE), which recorded a decline of 2.79% in the last 24 hours.

Kraken Did Not List SHIB

After experiencing a moderate correction over the weekend, Shiba Inu she started the new week on a high note. Day Monday SHIB, Kraken it revisited the $0.000075 level after its stock exchange pledged to list it on Tuesday.

However, the trading platform has backtracked on the plan, claiming that it will continue to evaluate the listing in the future, despite a strong showing from the community.

Investors Continue to Take Profits

Shiba Inu, Is experiencing a pullback after seeing a tremendous rally in October and delivering life-changing gains to some of its owners.

Last week Coinbase, SHIB he explained that the average retention period for his token is only 11 days, which means that there is not yet a strong HODL mentality in the community.

On the other hand, the largest Shiba Inu whalethe fact that on Tuesday he transferred his fortune to different addresses caused fear in some Shiba Inu investors.

Despite the recent correction, Shiba Inu is still on a wonderful rise of 250% compared to last month.

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