Arslan Butt
The Shiba Inu coin was unable to break its bearish trend and continued to decline, reaching a value of $0.000012. This decline can be attributed to the slow market conditions for cryptocurrencies, which were influenced by a number of factors, such as the recent interest rate hikes and the SEC’s stricter regulations on cryptocurrency.
The meme cryptos have been seeing a decrease in the last 24 hours.
Dogecoin price drops by 0.22%
Shiba Inu price is down by 1.53%.— Adioms (,) || 0xAdioms.lens (@0xAdioms) March 1, 2023
It is worth mentioning that the two most famous cryptocurrencies in the world, Bitcoin (BTC) and Ethereum (ETH), have experienced a significant decline, with BTC hovering around $23,000 and ETH around $1,600. Other popular cryptocurrencies, including Dogecoin (DOGE), Ripple (XRP), Litecoin (LTC), and Solana (SOL), have also experienced some losses, albeit relatively minor ones.
Bitcoin (BTC) is an outdated crypto, its reallife application is very limited. It is now worth over $23000 per coin and at one point it was worth $69000 percoin! It's price has been pushed up and down violently for speculation by crypto traders and a few big holders.… https://t.co/mHA6Cfma2T pic.twitter.com/wgKyQ1Q0fn
— Kim H Wong (@Time_and_Trade) February 28, 2023
Shiba Inu Price
The current price of Shiba Inu is $0.000012, and the 24-hour trading volume is $171 billion. Over the past 24 hours, Shiba Inu has experienced a decline of 0.12%. It is currently ranked 14th in the market, with a live market cap of $6.8 billion
Global Market Sentiment & Regulatory Changes
The global cryptocurrency market experienced a decline on the day, influenced by several factors such as the US Securities and Exchange Commission’s (SEC) stricter regulations on crypto projects, as well as traders’ pessimistic sentiment towards the market. As a result, investors appear to have adopted a bearish outlook on the cryptocurrency sector and have begun to sell their assets, which is causing prices to drop.
⚠️Tel Aviv stock #exchange is reportedly considering regulatory changes that would allow #crypto assets trading. #cryptocurrency #CryptoNews #Israel #trade pic.twitter.com/XlghW3p1rd
— BTCOrdinals.io (@BTCOrdinals_io) March 1, 2023
In addition, governments worldwide are increasingly tightening regulations related to cryptocurrencies, leading to market uncertainty and a decline in prices. Additionally, the current state of the economy has also contributed to the decrease in crypto values, as investors are choosing to invest in safer options such as gold and bonds due to the economic instability.
Shiba Inu Whale Moves Nearly 92 Billion $SHIB
A large Shiba Inu holder, also known as a whale, has reportedly transferred around 91 billion $SHIB tokens to a wallet owned by the Indonesian cryptocurrency trading platform, Indodax. According to statistics from the Ethereum blockchain, another whale with a digital asset portfolio valued at over $4.5 million recently transferred approximately 92 billion tokens, equivalent to around $1.1 million, to the same cryptocurrency. It is speculated that this transfer was made to sell or dump the tokens.
Massive Shiba Inu Whale Moves Nearly 92 Billion $SHIB to Indonesian Crypto Exchange as Price Drops: A massive Shiba Inu whale has moved over 91 billion $SHIB into a wallet belonging to the popular Indonesian cryptocurrency trading… https://t.co/Zc9SY2pUtC #Bitcoin #Crypto #Nft pic.twitter.com/fppXCZUCxF
— LazerEYES (@lazereyes_) February 28, 2023
The transfer took place during a period of declining value for the meme-inspired cryptocurrency, which had previously surged over 50% year-to-date. In the last week alone, the price of SHIB has decreased by nearly 8%.
Modest Declines In US Dollar
The US dollar, which had been showing signs of a broader uptrend, has experienced a setback and given up some of its gains for the day. On Wednesday, the dollar weakened against the yuan following news of China’s industrial activity expanding at its fastest pace since April 2012. Meanwhile, the euro gained ground after regional German inflation data revealed ongoing price pressures.
The focus this week is on the February business activity figures, which are expected to be released on Wednesday and Thursday. It is anticipated that growth in the services industry will be offset by a decline in the US manufacturing sector.
Any indications of economic deterioration in the United States could potentially lead to an increase in cryptocurrency prices. It’s worth noting that the crypto market was affected by an interest rate hike in 2022, so traders are closely monitoring any potential signs of a market collapse. The US dollar, which has experienced a substantial recovery this year, was trading at a two-month high against a basket of currencies, placing additional pressure on metal prices.
Therefore, the bearish US dollar has been identified as a critical factor that could limit deeper losses for cryptocurrency prices.
Buy Shiba Inu Now
Fight Out (FGHT)
The presale for Fight Out (FGHT) has garnered significant attention and has already raised over $4.9 million in funding. As the presale nears its conclusion, the price of FGHT tokens has been steadily increasing every 12 hours. This is a clear indication that the move-to-earn Web3 platform, which will incentivize users to participate in various exercises, activities, and courses, will have a strong market demand when it launches in Q2 2023.
As the auction comes to a close on March 31, Fight Out has been actively seeking support from a growing number of exchanges for listing FGHT. Currently, LBank Exchange, XT.com, and BKEX have all verified the listings of FGHT, and more exchanges are expected to follow suit in the near future.
C+Charge (CCHG)
C+Charge (CCHG) is a peer-to-peer payment network designed for electric vehicle (EV) charging stations. The project has already raised over $1.9 million through its presale and is expected to launch later this year. C+Charge will utilize blockchain technology to enhance consumers’ access to carbon credits, which will be issued to them as non-fungible tokens.
C+Charge’s payment network will allow drivers to pay for their EV charging using CCHG, and in return, they will receive NFT-based offsets. These offsets can be sold and traded in the future, encouraging people to switch to electric vehicles.
Additionally, it’s important to note that C+Charge has begun burning unsold CCHG coins at each stage of its presale, reducing its fixed supply of 1 billion tokens. This means that the currency may become deflationary and experience price growth after it is listed on exchanges in the coming months.
Related
- Shiba Inu Price Prediction as Elon Musks Posts Photos of His Dog – $1 SHIB Incoming?
- Shiba Inu Price is Pumping 14% to $0.00001412 – Time to Join Meme Coin Rally?
- Shiba Inu Price Prediction as $300 Million Trading Volume Comes In – Can SHIB Reach $1 in 2023?
Fight Out - Next Big Train-to-Earn Crypto
- Backed by LBank Labs, Transak
- Earn Rewards for Working Out
- Level Up and Compete in the Metaverse
- Presale Live Now - $5M Raised
- Real-World Community, Gym Chain
This article was written for Business 2 Community by Arslan Butt.
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