Why Is Shiba Inu Dropping and How Will It Affect the Market

The Shiba Inu's value has been plummeting, leaving investors worried about the future of the market.

The main reason for the decline is the overall market volatility, as seen in the article section "Market Trends and Shiba Inu's Performance". This volatility has led to a significant drop in the value of Shiba Inu.

The rise of other cryptocurrencies, such as Dogecoin, has also contributed to Shiba Inu's decline. As noted in the article section "Competitors and Market Share", Dogecoin's popularity has led to a shift in investor attention away from Shiba Inu.

Investors are now left wondering how this decline will affect the market as a whole.

Shiba Inu's price has been in a downward trend since the beginning of March, with the meme coin failing to retain rallies and breaching the downtrend line.

The current price of Shiba Inu is trading at $0.00002542, after failing to reclaim the support of $0.00002800. This is a significant drop from its all-time high of $0.00002835, which it reached on Oct. 28, 2021.

New investors are pulling away from Shiba Inu, with network growth declining as a result. This suggests that the meme coin is losing traction with every passing day.

Over the past four days, more than 23 trillion SHIB worth $582 million moved into the hands of short-term holders, increasing the potential for corrections due to profit-taking. These holders tend to hold their assets for less than a month, making them vulnerable to sudden selling.

Shiba Inu's price is likely to witness a decline to $0.00002268, a level tested as both resistance and support in the past. This would mark a significant correction of 20%.

The 100-day EMA could act as a support level from where SHIB bounces back. If the meme coin changes direction from this point, it could climb back toward the resistance at $0.00002835.

The Shiba Inu price drop is a complex issue, but there are some key reasons contributing to it. Shiba Inu price is trading at $0.00002542, after failing to reclaim the support of $0.00002800.

Minimal activity from Shiba Inu holders is a crucial reason for the lack of support for price action. Investors are not doing much, which is actually contributing to the decline.

A decline in network growth is also a sign that Shiba Inu is losing traction. New investors are pulling away from the second-biggest meme token in the world, as evidenced by the network growth metric.

The average transaction size for Shiba Inu has been declining, a -54.18% drop from $49,816 on March 11 to $22,824 on March 21.

This drop is quite significant and it's worth noting that it's not the only metric showing a decline in Shiba Inu's performance. The price of Shiba Inu has also dropped, from $0.000033 to $0.000027, a -18.18% decrease.

The correlation between average transaction size and price correction is striking, and it's possible that the price drop will continue to follow the trend of declining transaction size.

Investors are likely to be affected by these declines, and it's essential to keep an eye on these metrics to make informed decisions.

The Shiba Inu price drop is a concerning trend for investors. Shiba Inu's price has declined 8% over the past week.

One of the main reasons for this decline is the lack of support from its holders. SHIB investors are failing to reclaim the support of $0.00002800, leading to a further decline in price.

The network growth of Shiba Inu is another indicator of its losing traction. The rate at which new addresses are created is decreasing, suggesting that new investors are pulling away from the meme token.

A significant chunk of the supply has moved into the hands of short-term holders, who tend to hold their assets for less than a month. This increases the potential for corrections due to profit-taking, which could further exacerbate the price drop.

The average transaction size of Shiba Inu is also declining, with a 54.18% drop in the last few weeks. This could be a sign that investors are not confident in the token's future.

Shiba Inu's price is currently trading at $0.000026, just above the $0.000023 support level. If it breaks, $0.000020 could be next, resulting in a significant correction.

Shiba Inu's price fall continues, with the meme coin trading at $0.00002542 at the time of writing. This decline is largely due to the broader market bearish cues triggered by the decline in Bitcoin price.

The lack of support for price action is also attributed to the minimal activity from Shiba Inu holders. This is a crucial reason why the price continues to drop.

New investors are completely pulling away from Shiba Inu, as evidenced by the network growth metric. This metric measures the traction of an asset, essentially the rate at which new addresses are created.

Over 23 trillion SHIB worth $582 million moved into the wallets of short-term holders over the past four days. These holders tend to hold their assets for less than a month, making them vulnerable to sudden selling.

Shiba Inu's price has declined 8% over the past week, which is a significant drop in a short amount of time.

This decline is part of a larger trend, as Shiba Inu has lost 14% of its value since the beginning of the year.

Its current price is 90% below its all-time high from October 28, 2021.

This means that if you had invested in Shiba Inu at its peak, you would now be looking at a substantial loss.

The Shiba Inu price is trading at $0.00002542, after failing to reclaim the support of $0.00002800.

New investors are completely pulling away from the second-biggest meme token in the world, as evidenced by the network growth, which is used to measure the traction of an asset.

A chunk of the supply just moved into the hands of short-term holders, who tend to hold their assets for less than a month, making them vulnerable to sudden selling.

The 100-day EMA could act as the support level from where SHIB bounces back, and if the meme coin changes the direction in which the price moves from this point, it could climb back toward the resistance at $0.00002835.

Shiba Inu's price has been trading under a downward trendline for the most part since the beginning of March, and even though the meme coin attempted breakouts in the past, it failed to retain the rally.

If Shiba Inu fails to breach the downtrend line, it will fall back to $0.00002093, and losing this support would result in a significant correction to $0.00001491.

The short-term EMA lines are nearing a crossover below the long-term EMA lines, which is a significant technical indicator that suggests a bearish momentum might be on the horizon.

Shiba Inu must print a daily candlestick close above $0.00002584 to invalidate the bearish thesis and break the descending trendline SHIB has maintained since March.