🤝Partnership Announcement
Shiba Inu (SHIB) has partnered with Chainlink (LINK) in a strategic move to bolster its ecosystem. This collaboration is expected to bring advanced capabilities to SHIB’s blockchain infrastructure, leveraging Chainlink’s robust technology.
📉 Market Reaction
Despite the positive announcement, both SHIB and LINK prices have seen significant daily declines:
Shiba Inu (SHIB): Down nearly 20%, trading at approximately $0.00001964.
Chainlink (LINK): Dropped by 16%, now below $21.
💡 Broader Market Context
The price drop aligns with a broader cryptocurrency market correction, triggered by the Federal Reserve’s recent FOMC meeting:
The Fed reduced the benchmark rate by 0.25%, signaling potential policy halts next year due to rising inflation.
Bitcoin (BTC) briefly dropped to $92,000, while leading altcoins like Ethereum (ETH), Ripple (XRP), Solana (SOL), and Dogecoin (DOGE) suffered double-digit losses.
🌐 Future Outlook
While the market remains bearish, Shiba Inu's collaboration with Chainlink could be a catalyst for future growth in its ecosystem, paving the way for enhanced utility and adoption.
Stay tuned for updates as the ecosystem develops! 🚀
