Crypto
By Mitchell
March 11, 2023
Shiba
One of the most popular meme coins, Shiba Inu, has been struggling recently. Since it is mainly driven by hype, the market's fear, uncertainty, and doubt (FUD) right now, caused by massive sell-offs and regulatory uncertainty, is not helping it.
Shiba
Shiba Inu has lost 5.7% of its value in the last day. During the past week, the price of SHIB fell by 9.8%.
Shiba
There are many different reasons why the coin and crypto markets are going down. One of the main reasons is that bitcoin (BTC), now worth less than $20,000, has fallen.
Shiba
Since BTC is the most crucial cryptocurrency, it pulls the other coins in the same direction when prices vary. Also, there have been great examples of considerable sell-offs in the crypto space.
Shiba
In just 24 hours, Voyager sold crypto worth about $56 million. During their selling spree, the company sold 400 billion Shiba Inu tokens worth more than $4.4 million. They still have other SHIB tokens worth about $44 million.
Shiba
As the weekend gets closer, both the stock and crypto markets are going down hard. Today, the whole crypto market fell by more than 7% in 24 hours and went below $1 trillion.
Shiba
The crypto market took a big hit after burdensome crypto regulations and President Biden's latest budget plan were made public. The NYAG sued Kucoin and called ETH security all in the same day
Shiba
In the new budget, Biden's government plans to raise taxes over the next ten years to bring in an extra $5.5T for the US. Also, people are worried that the Fed will raise interest rates,