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Chaotic June
Shiba Inu (SHIB) experienced a "chaotic June" in June mainly due to the following reasons:
Exchange net position change: As of June 1, SHIB's exchange net position change reached 2.6 trillion, which means that a large number of tokens were sent to exchanges. This continuous inflow usually leads to increased selling pressure, which leads to price declines.
Network growth decline: According to Santiment data, Shiba Inu's network growth has fallen from the highs reached on May 29.
This indicator is often seen as a sign of network adoption or traction, so its decline may further confirm the assertion that SHIB's price may plummet.
Decrease in demand: The demand for Shiba Inu tokens continues to decrease, which may be due to a decrease in investor confidence in the market or a decrease in the actual use of the token.
A decrease in demand usually leads to a decrease in token prices.
Price fluctuations: Due to the instability of the cryptocurrency market, the price of Shib coins may be affected by a variety of factors, including market demand, investor sentiment and the overall economic environment.
Changes in these factors may cause the price of Shib coins to fluctuate significantly in a short period of time.
Based on the above factors, Shiba Inu (SHIB) experienced a "chaotic June" in June.
However, although the current situation seems unfavorable, investors still need to pay attention to market changes and carefully assess risks.
If the demand for SHIB can increase significantly, its price may still rise.
But before that, investors should be cautious and avoid blindly following the trend or impulsive trading.