Shiba Inu (SHIB) Rally Loses Momentum

cryptocurrencyStalls for Shiba Inus (SHIB) Rally After Achieving A $50 Billion Market Cap
In 2021, Shiba Inu (SHIB) saw an incredible rise in market capitalization, which soared from a few million {dollars} to over $50 billion in just ten months. However, since then, the surge has stagnated. It reached an all-time high of $0.000087 on October 28, but since then, it has dropped by about 40%, lowering its market valuation down to $28 billion, leaving it out of the top 10 cryptocurrencies globally.
The Shiba Inu neighborhood’s hopes have been aroused by recent tweets from the cryptocurrency alternative Kraken over the possible itemization of SHIB. Kraken has admitted that it is currently going through the process of itemization assessment.
The corporate office of Robinhood Crypto, according to COO Christine Brown, is taking its time registering any cryptocurrency property, similar to Shiba Inu. She said that the short-term gain simply isn’t worth the long-term sacrifice for its clients.
Notwithstanding the recent decline in value, SHIB is still popular on social networking sites like Twitter, with the number of SHIB holders, or Shiba Inu Military, steadily increasing over the past few months. According to Coinmarketcap, there are over 942,000 SHIB holders, an increase of more than 50% since August 15, 2021.
However, not all marketplaces for buying and selling are welcoming SHIB. Brown made it known that Robinhood’s top priority is safeguarding its consumers, therefore the company is approaching regulatory evaluations of its concerns cautiously.

Related Articles

Back to top button