Is there a risk in the rise of Shiba Inu Coin price? Several key points need to be analyzed:
1. Two mysterious wallets transferred 4 trillion SHIB tokens (nearly 100 million US dollars), which triggered heated discussions in the cryptocurrency circle. Such operations by large investors are prone to market fluctuations. Small investors are worried that their selling or swapping will cause the price to fall. After the transaction, the price of Shiba Inu Coin fell by nearly 5%.
2. Federal Reserve Chairman Powell said that the US economy is good and there is no need to cut interest rates urgently, which greatly reduced the expectation of interest rate cuts in December, affecting the cryptocurrency market. The price of Shiba Inu Coin and other currencies fell. Some investors avoided high-risk assets, and the rise of Shiba Inu Coin may be hindered.
3. On the technical level, Shiba Inu Coin is stuck at $0.00002600, with a support level of $0.00002480 below, and the price has been hovering around it recently. Although some indicators show an upward trend, there are signs of "overbought" and may face a correction, and the trading volume and open interest are decreasing, reflecting the decline in market interest.
However, Lucie, the marketing director of Shiba Inu Coin, is more optimistic and believes that it still has room to rise and the price is expected to reach $0.00006 or $0.0001. #BTC00929
