Shiba Inu (SHIB) Price Stuck at $0.000063

Shiba Inu (SHIB) is falling to $0.000063. A big SHIB wallet profited $5.7 billion from $8,000 last week after the meme coin went to new all-time highs. It was reported that it had risen to move some funds.

Last month, the Shiba Inu coin skyrocketed over 825%. Such a wallet endures almost 13% of the total current supply of the Dogecoin killer token. Speculation has been started to fade about the wallet being a dormant one because it hadn’t noticed any activity whatsoever.

Shib trading quantity has declined significantly across all markets. The behavior can be defined by many crypto holders rising to get profits from the unusual rallies seen over the last few weeks. Another interpretation is that SHIB holders could be likely in wait-and-see mode to verify if the meme coin could extend profits further as the end of the year.

Shiba Inu is currently exchanging at around $0.0003035. The price is floating slightly below the 50-period simple moving average. If the coin collects impulse, it could resume the bull-run towards the all-time highs, although the RSI sign remains weak.

In terms of transactions, SHIB posted just 25,000 transactions that happened today, which suggests its popularity is starting to fade, according to Cryptorank’s metrics.

Elon Musk Strikes Again

But the meme coin-mania looks to be far to fade away, at least for now. As influencers like Elon Musk who is CEO of Tesla, and a fanatic of cryptocurrencies keep making headlines about these types of tokens.

Recently, Musk wrote a tweet with a meme that shows Vikings landing at the moon first than the US. Casually, it may not be linked to any crypto-related stuff, but advocates of the Floki Inu coin (FLOKI) joined the dots, and thus, the price skyrocketed by over 18%. As of press time, that token is deserving more than Shiba Inu, selling at about $0.0003035.

shiba inu
shiba inu

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