• Sun. Oct 24th, 2021

Shiba Inu has survived the biggest dump in history – what’s next? – Cryptomagazine

Byeditorial

Oct 13, 2021
Shiba Inu. Source: Shutterstock, Seregraff

Shiba Inu Token is probably one of the most powerful projects in the last period. The increasingly popular meme coin has a large group of fans, but also opponents. It can overtake its biggest competitor in the future Dogecoin?

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Shiba Inu after the biggest dump

The dog meme coin has seen a huge increase in the last two weeks, which has stopped at the number 300%. But then came the hard rinse he could do download the price by more than 40%, all within 24 hours. It is probably the biggest drop in history, stronger than the May drop after listing on the Binance stock exchange. Who caused the collapse? According to the published data, it was Hodler who owned 1 to 10 million SHIB. The small players were able to download 30 billion SHIB tokens, which started the sale.

Shiba Inu price analysis
Shiba Inu price analysis. Source: Santiment

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However, the project was able to sustain and there was a token after the bulls attack SHIB fired back by 22%. The huge increase in the project most likely forced small traders to place orders again.

The interest does not subside

Even after a significant dump, the project was able to maintain huge volumes, which is certainly very positive. They stick to a very high level in particular leveraged derivative transactions.

SHIB / BUSD
SHIB / BUSD 30m TF. Source: TradingView

At the time of writing, this is a token SHIB moved on the level 0.00002923 USDwhich represents a daily increase by more than 11%. However, volumes have fallen sharply. It is therefore very questionable what to expect from this unpredictable project.

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Disclaimer: This article is for information purposes only and should not be construed as investment advice. Markets are unpredictable and without sufficient knowledge, trading is a gamble. We are not responsible for any losses. Market movements are difficult to predict, so we recommend considering the risk of trading on the stock exchange.