Shiba Inu Network Activity Data Is Alarming: Will the SHIB Price Decline Last?

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The popular joke cryptocurrency Shiba Inu, it seems, is losing its popularity. SHIB according to data from the network event, as of November 3, it has fallen to 25,000 levels. The decline in transactions is based on the correction movement of the meme token after the rally and the growing loss of popularity.

Is Shiba Inu Losing Interest?

One of the most talked about crypto currencies in the recent period Shiba Inu, it retreated by 10% during the day and fell to the 0.000062 dollar levels. A large majority of SHIB owners are still located in the snow zone. However, it is worth noting that the profitability ratio at current levels is high.

The increase in the price of Shiba pleased its investors, while many cuts refused to sell. However, a further deceleration is predicted based on the correlation between price and data. Another confirmation of the large decrease in network activity is the decrease in volume on large exchanges. According to TradingView data, the volume of transactions fell by about 90%.

In addition to this, there is another meme coin Floki Inu, after a tweet from billionaire entrepreneur Elon Musk captured a 20% increase. The volume of interest and transactions collected on Shiba Inu has jumped to other crypto currencies. Dogecoin, Floki Inu, Samoyed, Dogelon Mars altcoins such as caught an uptrend during this period.

Meme Coins in the Crypto Currency Market

Leader BitcoinWith the upward momentum of and the increase in adoption rates, the crypto currency market has reached an important point. During this period, which witnessed the bull season, steps were taken that will go down in history. In addition to Bitcoin Ethereum, Binance Coin, Solana, Altcoins such as Dogecoin have caught ATH.

On the other hand, Dogecoin copy meme coin projects have become the center of attention. Elon Musk, one of the richest people in the world, joked about crypto currency curiosity, interest, manipulation, or after many terms used, people got caught up in the FOMO effect. The increase in hype rates has paved the way for funds to be poured into joke crypto currencies.

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