Has The 39.42% One-week Drop-in Shiba Inu Coin Reached Its Lowest End?
2022-05-13 16:49:48
How Much Is The SHIB Price Predicted To Rise To In The Next 5 Days?
The cryptocurrency market is now facing a cold winter as the market shifts to risk aversion mode amid high inflation in the US and continued "tapering" by the Federal Reserve. Not only did Bitcoin fall below $30,000 for the first time in 2022, but ETH has also fallen below the $2,000 mark. The Shiba Inu coin is also down by a significant amount.
TerraLUNA has fallen to 0.0001%, a drop of 99.9998%. Such a large drop led the Terra Builder Alliance to submit a "LUNA Forward Proposal" to the Terra community in the early hours of May 13, suggesting that Terra relaunch and issue new LUNA tokens.
At the time of writing, the Shiba Inu coin was trading at $0.00001267 on the international cryptocurrency exchange Gate.io. Although the price has dropped 37.7% in the last 7 days, it has increased 10.4% in 24 hours with a volume of $1,663,126,396. This shows that the Shiba Inu coin has a lot of upsides and the trend is expected to pick up.
With the collapse of the stable coin TerraUSD (UST) this week, the financial world is watching the collapse of the cryptocurrency market. According to reports, IOSCO Board Chairman O'Daly said that a joint body responsible for coordinating global cryptocurrency regulation is urgently needed and could be achieved within 2023.
A survey conducted by the Bank for International Settlements shows that many central banks around the world are considering the introduction of central bank digital currencies. The BIS says: "More than two-thirds of central banks globally believe they are likely to issue retail CBDCs in the short or medium term. Research into wholesale CBDCs is increasingly driven by reasons related to the efficiency of cross-border payments. CBDCs are seen by central banks as being able to alleviate key pain points such as the limited operating time of current payment systems and the length of current transaction chains."
According to WhaleStats data, Shiba Inu coins currently account for 12.56% of the total ETH Whale wallet and are worth $516,833,564, ranking third.
Data reports that the mysterious BNB Whale sold $5 trillion in SHIB tokens worth $52.9 million in two major transactions within the last 24 hours. The mystery Whale still holds 3 trillion SHIB tokens worth $31.44 million in his wallet.
According to a tweet by @shibburn, there are now 324,735,210 Shibas in "dead wallets" after a total of 27 transactions, making SHIB, the second-largest MEME cryptocurrency, even more scarce. Millions of tokens have now been permanently withdrawn from the circulating supply, representing a 338.20% increase in burn rate compared to 70 million tokens.
As the scarcity of Shiba Inu coins increases and the price gradually picks up, this is one way to keep on attracting investors to buy Shiba Inu coin. Even though the Shiba Inu coin meta-universe project does not appear to be bursting at the seams as the SHIB team had hoped, it is still ongoing, and one wonders if there will be some surprises waiting for the Layer 2 blockchain online
The cryptocurrency market is now facing a cold winter as the market shifts to risk aversion mode amid high inflation in the US and continued "tapering" by the Federal Reserve. Not only did Bitcoin fall below $30,000 for the first time in 2022, but ETH has also fallen below the $2,000 mark. The Shiba Inu coin is also down by a significant amount.
TerraLUNA has fallen to 0.0001%, a drop of 99.9998%. Such a large drop led the Terra Builder Alliance to submit a "LUNA Forward Proposal" to the Terra community in the early hours of May 13, suggesting that Terra relaunch and issue new LUNA tokens.
At the time of writing, the Shiba Inu coin was trading at $0.00001267 on the international cryptocurrency exchange Gate.io. Although the price has dropped 37.7% in the last 7 days, it has increased 10.4% in 24 hours with a volume of $1,663,126,396. This shows that the Shiba Inu coin has a lot of upsides and the trend is expected to pick up.
What Will The Financial Markets Do About It?
With the collapse of the stable coin TerraUSD (UST) this week, the financial world is watching the collapse of the cryptocurrency market. According to reports, IOSCO Board Chairman O'Daly said that a joint body responsible for coordinating global cryptocurrency regulation is urgently needed and could be achieved within 2023.
A survey conducted by the Bank for International Settlements shows that many central banks around the world are considering the introduction of central bank digital currencies. The BIS says: "More than two-thirds of central banks globally believe they are likely to issue retail CBDCs in the short or medium term. Research into wholesale CBDCs is increasingly driven by reasons related to the efficiency of cross-border payments. CBDCs are seen by central banks as being able to alleviate key pain points such as the limited operating time of current payment systems and the length of current transaction chains."
Shiba Inu Coin Is No Longer NO.1 in Whale Wallet Count
According to WhaleStats data, Shiba Inu coins currently account for 12.56% of the total ETH Whale wallet and are worth $516,833,564, ranking third.
Data reports that the mysterious BNB Whale sold $5 trillion in SHIB tokens worth $52.9 million in two major transactions within the last 24 hours. The mystery Whale still holds 3 trillion SHIB tokens worth $31.44 million in his wallet.
Shiba Inu Coin Continues to Burn
According to a tweet by @shibburn, there are now 324,735,210 Shibas in "dead wallets" after a total of 27 transactions, making SHIB, the second-largest MEME cryptocurrency, even more scarce. Millions of tokens have now been permanently withdrawn from the circulating supply, representing a 338.20% increase in burn rate compared to 70 million tokens.
As the scarcity of Shiba Inu coins increases and the price gradually picks up, this is one way to keep on attracting investors to buy Shiba Inu coin. Even though the Shiba Inu coin meta-universe project does not appear to be bursting at the seams as the SHIB team had hoped, it is still ongoing, and one wonders if there will be some surprises waiting for the Layer 2 blockchain online
Popular News
