SHIB Price Prediction: Can Shiba Inu Coin Survive 22% Drop In A Week?

SHIB price prediction: SHIB, a popular meme-coin, has seen a significant decline in value over the past 24 hour. The meme coin has recently been following a downward trajectory, slipping past significant support markers. Currently, the Shiba Inu Coin price is $0.00002167, reflecting a decline of 2.91% over the past 24 hours.

The trading volume for the same period has fallen by 40%, now at approximately $619 million. This decrease in trading activity suggests a cooling interest among investors at the moment. With a market capitalization of $12.71 billion, Shiba Inu Coin is the twelfth largest cryptocurrency, as listed by CoinMarketCap.

SHIB Price Prediction: Widespread Corrections as Halving Approaches

The notable Bitcoin halving event is imminent in three days, but a noticeable dip in cryptocurrency values has emerged. Bitcoin recently fell to $60,000, while Ethereum, ranking second in market capitalization, also had a significant drop, and is now priced at $2,960.

This downtrend extends to other cryptocurrencies, including SHIB, reflecting widespread market hesitancy. This correction across the board suggests that investors are cautious, anticipating increased volatility surrounding the halving.

Shiba Inu Coin’s significant decline over the last week, dropping over 20% in value has seen it oscillate between $0.0000191 and $0.000028. This recent fall contributes to an overall 18% drop over the past month, highlighting a persistent bearish trend in the market.

Other meme coins, including Dogecoin, WIF, and PepeCoin, have similarly experienced downward movements, with prices dropping in double-digits. This collective slump reflects a broader market retreat, impacting numerous digital currencies in this category.