I don't know if you have noticed a strange phenomenon, that is, every National Day, SHIB seems to be under a spell and keeps falling. Let's talk about this today.
Let's talk about SHIB first. SHIB, Shiba Inu coin, was very popular when it first came out. With its cute Shiba Inu image and the concept of decentralization, it attracted countless small investors like me to enter the market. At that time, it felt like the entire currency circle was crazy about SHIB. People were discussing whether it would become the next Dogecoin. After all, Dogecoin has made many people taste the taste of getting rich quickly, and everyone wants to replicate this success with SHIB.
I remember when I first bought SHIB, I felt like I had picked up a treasure. Watching it rise little by little, I felt so happy. But as soon as the National Day came, the style suddenly changed.
From the perspective of the macroeconomic environment, the global financial market was actually in a delicate state during the National Day. First of all, we have a week-long holiday during the National Day holiday in China, during which many domestic investors have shifted their attention from the cryptocurrency circle to leisure and entertainment in real life. Think about it, everyone is out traveling and visiting relatives and friends, who has the energy to keep an eye on the SHIB market every day? The attention of funds has suddenly decreased. In addition, many large domestic fund holders may adjust their investment portfolios before the holiday. In order to avoid possible risks during the holiday, they choose to reduce their holdings of some cryptocurrencies with relatively large fluctuations such as SHIB. This has led to increased selling pressure on SHIB during the National Day.
Looking at the international aspect, during the National Day, although the international financial market is still operating normally, the market tends to be more cautious at this time. Because China is an important participant in the global economy, the slowdown in economic activities during the National Day holiday will affect the sentiment of international investors to a certain extent. They will worry about the changes in China's economic data after the holiday and the impact of such changes on the global market, including the cryptocurrency market. This uncertainty will make many investors wait and see or sell relatively risky assets such as SHIB.
