Shiba Inu Reaches Dangerous Level, Catastrophe Might Be Ahead

following success ethereum mergemost altcoins that are not tied to Ethereum and cannot be mined lost the spotlight in the market and were hit harder after the release of unexpectedly high CPI data. I’m alone assets.

Over the past three days, the Shiba Inu has been consolidating around its fundamental support level, and if this breaks, the token could return to this month’s or even this year’s lows. Such dynamics could turn into a catastrophe for meme-based tokens, as investors will most likely not be able to plunge further.

Since June 2022, SHIB has been able to recover more than 20% of its value, offering hope to medium- and long-term investors who have been dealing with losses since October 2021.Speculative despite redistribution among owners and underlying growth of the project transaction Volume still dominates the influx of tokens.

According to the volume profile, the Shiba Inu shows no signs of decline. This means that the current consolidation or low volatility uptrend will continue in the medium term. The main reason is the lack of demand for risky assets and volatile tokens.

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It is no exaggeration to say that the Shiba Inu is slowly repeating its fate. dogecoinIt emerged as a joke. However, over time, the lack of usage and fundamental value led investors to shy away from memecoins, with lengthy consolidations and major revisions.

At the time of writing, the Shiba Inu is trading at $0.000012 over the last 24 hours, an adjustment of 1.7%.