#SHIB $1B Liquidated: Is Now the Time to Buy Shiba Inu (SHIB)?
Bitcoin dipped below $50k in the wee hours of the morning on August 5th, compelling the entire crypto market to encounter stark mayhem. The World’s largest cryptocurrency by market is currently trading at $53K, triggering a wave of panic selling and liquidations to loom over the sector.
Nearly $1 billion worth of cryptos have been liquidated till now, spreading more chaos into the play. However, some investors view this as a perfect setup to make more money. Shiba Inu (SHIB) is no exception to this rule. Here’s how it may work in the long haul.
The cryptocurrency market was bleeding on Monday as stark liquidations were reported. With Bitcoin stabilizing at $53K, the liquidations are tugging at investors’ hearts, making them question their holdings.
At the same time, Shiba Inu (SHIB) is also experiencing intense price turmoil. It is currently trading at $0.00001144, down 19% in the last 24 hours.
With tumultuous mayhem sweeping over, several critical influencers of the crypto realm have stepped up to curb the chaos. Robert Kiyosàki, the author of Rich Dad Poor Dad, shared how he’s unfazed by the latest BTC dip.
Similarly, while the market may spiral downward, many investors view this as a lucrative opportunity to buy the precious crypto dips. With Shiba Inu at the lowest price path of $0.00001144, the technical platforms still portray bullish price signals for SHIB, considering its growing ecosystem development and setup.
Should You Buy The Dip?
According to CoinCodex, August seems like a stable month for SHIB, where the token may touch a new price threshold of $ 0.00002175.
However, intense crypto market bouts are highly unpredictable and may sometimes chart paths away from such predictions. Hence, user discretion is mandatory when making meaningful investing discussions.