Ethereum

Bitcoin

Shiba Inu

<figure> 
 <figcaption>
 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a> 
 </figcaption> 
</figure> 
<a href="https://u.today/shiba-inu-shib-symmetrical-triangle-is-here-heres-what-might-happen" rel="noopener noreferrer nofollow">Shiba Inu</a> (SHIB) has experienced a notable decline in its value over the last 24 hours. As of the latest data, the meme coin is trading at approximately $0.00000797, raising questions about what could have led to this sudden drop. 
The overall cryptocurrency market has been in a state of flux, with both <a href="https://u.today/bitcoin-btc-targets-30000-now-intotheblock-says-but-theres-a-catch" rel="noopener noreferrer nofollow">Bitcoin</a> (BTC) and Ethereum (ETH) experiencing declines. This general market downturn could have been a significant factor in dragging Shiba Inu down with it. Specifically, the eve of expiration for BTC and ETH saw the delivery price deviating from the max pain point, a relatively rare occurrence that could have had a ripple effect on other cryptocurrencies, including SHIB. 
<img alt="SHIB chart" data-entity-type="file" data-entity-uuid="f344961f-ff47-4922-9453-0505d187da9f" src="https://u.today/sites/default/files/inline-images/image_34.png">Source: <a href="https://www.tradingview.com/" rel="noopener noreferrer nofollow">TradingView</a> 
Moreover, the delay in ETF approvals has led to the exit of short-term funds from the market. This could have further exacerbated the downward pressure on Shiba Inu's price. It is essential to consider these broader market dynamics when analyzing the recent performance of SHIB or any other cryptocurrency. 
The decline in <a href="https://u.today/shiba-inu-shib-symmetrical-triangle-is-here-heres-what-might-happen" rel="noopener noreferrer nofollow">Shiba Inu's</a> value comes amid a backdrop of market uncertainty and the invalidation of the symmetrical triangle pattern. While it is tempting to attribute the drop solely to market-wide influences or technical patterns, it is crucial to remember that each asset has its own set of factors affecting its price: news, developments, announcements. For Shiba Inu, the lack of any significant news or updates could also be a contributing factor to its price decline. 
Shiba Inu's unexpected fall can be attributed to a combination of factors, including the overall market downturn and specific events like the delay in ETF approvals.

Shiba Inu (SHIB) Falls Unexpectedly, Here's What Happened

U_Today

Other articles published on Sep 1, 2023

Shibarium Tops 600K Unique Wallets Amid Remarkable Rebound

Top-3 Trailblazing Crypto AI Projects To Buy in September

Bitay Ventures into Expanding UAE Crypto Market

Petuah Robert Kiyosaki Seputar Jenis-jenis Investor, Anda Termasuk di Mana?

From Beta to Boom: Borroe’s 25% Surge Leaves Monero (XMR) & Stellar (XLM) Behind!

Ronaldinho Clears His Name in $61 Million Crypto Scam Allegations

Join our free newsletter for daily crypto updates!