Shiba Inu #shib has become a hot topic again after its price jumped 36.78% in the last 24 hours, reaching $0.00002790. This increase continues the bullish trend that has occurred over the past week, with a price increase of more than 177%.
However, behind this increase, there are several negative sentiments that investors need to consider:
1. Dependence on the Market and Bitcoin
SHIB's current rise appears to be more influenced by positive sentiment in the crypto market as a whole, especially the surge in Bitcoin prices. This shows that SHIB itself has few internal factors that drive its price increase. This reliance risks making SHIB vulnerable to broader market fluctuations.
2. The impact of burning tokens is unclear
This article mentions the burning of 800 million SHIB tokens as a supporting factor for the price increase. However, the impact of these burns on token prices is still not completely clear and requires long-term observation.
3. Risk of Price Correction
Significant price increases in a short period of time, such as what SHIB is currently experiencing, are often followed by price corrections. Investors need to be careful of the potential for sharp price drops, especially if overall crypto market sentiment weakens.
Conclusion :
The surge in SHIB prices does attract attention, but investors need to be careful and conduct in-depth research before investing. Dependence on the market and Bitcoin and the unclear impact of token burning are factors that need to be watched out for. The risk of price corrections also needs to be considered to make wise investment decisions.
