Despite 3 Bullish Catalysts, Shiba Inu Declines More Than 4%
As of 9:30 a.m. ET Tuesday, meme token Shiba Inu (CRYPTO: SHIB) was down by 4.6% over the prior 24 hours. Investors appear to be pricing higher near-term interest rates and a flattening yield curve into higher-risk cryptocurrencies, as well as most "risk assets." Also on Tuesday, the 5-year/30-year yield curve flattened to below 50 basis points for the first time since March 2020.
This macro-level de-risking has taken most difficult-to-value assets on a bearish ride. Unfortunately for Shiba Inu holders, these macroeconomic conditions are causing the market to discount three relatively bullish catalysts for the meme token.
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Source Fool.com
