Shiba Inu Dropped On International Dog Day Despite 80% YoY Gain. What’s Up?

Shiba Inu fell 4% today to $0.00001445 as the cryptocurrency market fell 3% in 24 hours.

SHIB is up 4.5% in a week and 6% in a fortnight, while the meme currency is down 14% in 30 days.

Better more, the alt has gained 80% in the last year, indicating long-term momentum.

It may have missed International Dog Day yesterday, but it and the market should recover in the coming weeks.

International Dog Day occurred yesterday, a day to honor all dogs and raise awareness of dog concerns.

A casual observer may think this attention would boost dog-themed meme tokens, but it hasn't helped the Shiba Inu price.

SHIB's 30-period average (orange) is sliding toward the 200-period average (blue), and dropping below the longer term average may reverse the coin's recent favorable fortune.

SHIB's 24-hour trade volume rose from $100 million on August 18 to $300 million today in the previous week.

This remains low, showing whales are uninterested in the meme coin.

Shiba Inu has better foundations than most other meme currencies, with recent advances boosting its ecosystem.

In addition to launching its layer-two network Shibarium last year, it is working on a layer-three platform and a Shibarium-based version of its SHIB-burning Shiba Eternity card game.


Rising market confidence will also help Shiba Inu in the coming weeks.

More rate reduction from the Federal Reserve and better US economic statistics will boost optimism.

The Shiba Inu price might hit $0.000020 by Q4 and $0.000040 by next year.

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