Shiba Inu At the risk of Major Crash! Shib Price Might Add up Another Zero By End of September! — Coinpedia — Fintech & Cryptocurreny News Media

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The suc­cess­ful merge of the Ethereum net­work is a rev­o­lu­tion­iz­ing event for the entire cryp­to space. How­ev­er, it brings bear­ish woes for some alt­coins along with its ben­e­fi­cial ener­gy effi­cien­cy. There are many alt­coin projects which can’t be mined and lost the atten­tion after the Ethereum merge as most of them are not con­nect­ed with the merge. Shi­ba Inu is one of those assets which have start­ed los­ing dom­i­nance and spot­light in the cryp­tocur­ren­cy mar­ket after the Ethereum merge and high infla­tion report. 

A Major Crash Is Waiting For Shiba Inu

Pop­u­lar meme coin Shi­ba Inu is fol­low­ing the cryp­to sen­ti­ment, which has been moved by the Ethereum merge with a mix of severe infla­tion reports. Accord­ing to Coin­Mar­ket­Cap, Shi­ba Inu is cur­rent­ly trad­ing near $0.000012, a drop of near­ly 3% from yesterday’s price.

It seems that Shi­ba Inu is get­ting grabbed by the bears of the mar­ket after the CPI report. Shi­ba Inu has been trad­ing around its fun­da­men­tal sup­port lev­el at $0.000012 for three days, and if it gets bro­ken, then Shi­ba Inu may aim to touch the bot­tom line or even the year’s low by the end of this month. There­fore, this price action from Shi­ba Inu seems to be a cat­a­stro­phe as traders and investors will not be able to suf­fer anoth­er downfall. 

Can SHIB Make A Comeback?

Data from Coin­Mar­ket­Cap indi­cates that Shi­ba Inu was the most favored and adopt­ed cryp­tocur­ren­cy by the glob­al cryp­to mar­ket in August as the social media hype of SHIB start­ed increas­ing due to the Shi­ba Inu meta­verse.

There is some pos­i­tive news that is hold­ing Shi­ba Inu’s price. SHIB recov­ered more than 20% of its val­ue after the recent mar­ket crash and cre­at­ed hope for investors and traders who have been suf­fer­ing sig­nif­i­cant loss­es due to the crash since Octo­ber 2021. Despite the price volatil­i­ty of Shi­ba Inu and neg­a­tive sen­ti­ments, the trad­ing vol­ume leads to the future road of Shi­ba Inu and brings hope to the SHIB com­mu­ni­ty. On the upper side, Shi­ba Inu can make a come­back if it breaks the resis­tance lev­el at $0.000014.

Shi­ba Inu is not cur­rent­ly show­ing any guar­an­teed neg­a­tive momen­tum as the vol­ume pro­file con­tin­ues to rise. How­ev­er, we can say that Shi­ba Inu is fol­low­ing the track of pop­u­lar doge­coin

, attract­ing a vast com­mu­ni­ty of investors and traders, but it appeared to be a joke in the end. The high volatil­i­ty that includes high risk has dumped investors’ atten­tion from meme coins. 

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