Despite continued selling pressure and the sharp correction in the cryptocurrency market, investor interest in the Shiba Inu (SHIB) has not slowed.
Records transaction volume on Shiba Inu
As major cryptocurrency Bitcoin (BTC) fell below $29,000, major altcoins also lost value. During this period, the Shiba Inu fell by more than 30%. earth As the fallout from the (LUNA) crisis continues, some experts have warned that meme-based altcoins could face similar situations. SHIB has suffered massive losses lately. However, increased burn rate and new partnerships can be assessed as concrete milestones that can increase in price. Shiba Inu trading volume topped 70% for the first time in two months yesterday. Trading activity for SHIB has reached new highs as 77% of traders hold a “buy” position and only 23% hold a “sell” position on Coinbase.
Since March, SHIB’s trading volume has not exceeded the 70% threshold. However, the SHIB took that step yesterday. This rate reaches 77%. The last time SHIB’s trading volume hit 90% was in September last year. The Shiba Inu gained 1000% in October, a week after this event. Analyzing its technical indicators, it appears that the Shiba Inu is not yet completely out of the oversold region. Continued pessimism and selling pressure in the cryptocurrency market due to Fed monetary policy and the Terra crisis, SHIB This also affects the price.
Partnerships and Whaling Unit, ongoing
shiba inusIts global adoption continues. It has been reported that the Argentine football team named “El Talita Csyd” will use the Shiba logo on their shirts. According to IntoTheblock, Shiba Inu transactions over $100,000 have increased by 7%. Significant transactions often refer to whales or corporate activities.