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3 Reasons Shiba Inu Is Taking Off Today

TheMotleyFool

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3 Reasons Shiba Inu Is Taking Off Today: https://g.foolcdn.com/editorial/images/716067/shiba-inu22.jpg

Among the top cryptocurrencies on watch for many retail investors, Shiba Inu (CRYPTO: SHIB) is once again going on a nice run. Today's 24-hour move of 5.6% as of 3:30 p.m. ET brings the current year-to-date gain for SHIB up to nearly 14%.

There are a number of reasons that cryptos, and meme tokens for that matter, are surging higher right now. These assets are widely viewed as high-beta ways to play surging asset prices.

We've seen the sensitivity many tokens have with respect to interest rates on full display in 2022. This year, expectations that interest rates could meet their terminal rate in the first half of the year before a pause (and then hopefully a pivot) are driving more-speculative assets off their lows.

Source Fool.com

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