why shiba inu is going down today

Why Shiba Inu is going down today? – The value of Shiba Inu has dropped by more than 23% in the past 24 hours.

In this post, We’ll explain why the value of Shiba Inu is down today.

Previously, Shiba Inu rose in value earlier in October following a tweet by Elon Musk.

Elon Musk, the billionaire entrepreneur, Owner of Tesla, has a Shibu Inu puppy and posted a picture of it on his social media, which started a big rally. The Shiba Inu community grew a lot faster last month and is still growing.

In the past month, Shiba has skyrocketed by more than 500%, according to Coinbase.

Shiba Inu, which launched last year, has proclaimed itself to be the “Dogecoin Killer”. Elon musk has been supporting Shiba Inu as well.

Read more about shiba inu price prediction

Why Shiba Inu is going down today?

why shiba inu is going down
why shiba inu is going down

The value of Shiba Inu is currently sitting at $0.00004354, according to CoinMarketCap.

Its value has shrunk by 22.65% over the past 24 hours.

A meme coin typically gains off a social media or an internet-based joke, meaning its value can fall if and when the internet loses interest. As Shiba Inu coin owner declined the statement “Shiba Inu is a Meme coin”. Shiba Inu coin is no longer a meme coin.

The value of any investment also usually falls if large number of investors sell off their assets at the same time.

Bitcoin, for example, crashed as Elon Musk announced Tesla would no longer accept the cryptocurrency for buying cars.

He banned the payment method due to the environmental impacts of Bitcoin mining.

Experts believe the Shiba Inu altcoin has been created to ride the tailcoats of Dogecoin’s success.

What are the risks of investing in cryptocurrencies?

Investing in cryptocurrencies is essentially gambling (Without Knowledge) and there are no guarantees that you will see what you pay in go up in value.

Cryptocurrencies are VERY high risk and a speculative investment, with limited track records and no underlying value.

There is also no guarantee that you can convert crypto assests back into cash, as it may depend on the demand and supply in the existing market.

Newer cryptos, such as Shiba Inu, are always riskier than those who’ve been around longer, like Bitcoin, meaning you’re more open to scams. However, People can invest in shiba inu coin as its in buying range currently.

Shiba Inu price prediction today – why shiba inu is going down

For the next 24 hours the price of Shiba INU is predicted to be in the range of $ 0.000040 and $ 0.000046. Overall Recommendation for next 24 hours is Sell. However, if you’re a long term investor, you can certainly hold shiba inu coins.

Shiba Inu Coin Price Prediction: Momentum Summary

MetricMomentum
PriceLower
Technical IndicatorSell
Social Media Buzz MomentumSteady

What is the Shiba Inu Prediction for 2021 End?

PlatformPrice Prediction for End of 2021
CoinPriceForecast$0.00012
Coin Quora$0.00006-0.00009
Wallet Investor$0.000053

Should I invest in Shiba Inu?

People invest at their own risk and cryptocurrencies are not regulated by British financial authorities.

All crypto investments are risky, but meme coins like Shiba Inu are particularly volatile, and you should be prepared to lose everything you invest.

The Financial Conduct Authority (FCA) warned in January: “Investing in cryptoassets, or investments and lending linked to them, generally involves taking very high risks with investors’ money.

“If consumers invest in these types of product, they should be prepared to lose all their money.”

Susannah Streeter, senior investment and markets analyst, Hargreaves Lansdown previously explained the risks to i.

She said: “On top of being extremely volatile, most cryptocurrencies are unregulated, which not only adds another layer of uncertainty but also means that investors have little or no protection against fraud

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By Niketj

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