Why the Price of Shiba Inu Is Down Today
The price of Shiba Inu (CRYPTO: SHIB) had fallen more than 15% over the last 24 hours as of 10:37 a.m. ET today, in line with moves seen in the broader cryptocurrency market.
Cryptocurrencies got hammered over the weekend, with the price of Bitcoin (CRYPTO: BTC) at one point plunging to around $42,000 briefly before coming back up to around $48,000. Large moves in Bitcoin tend to trigger the rest of the market.
But the interesting thing is that Bitcoin and most other cryptocurrencies seem to be struggling from the same concerns as traditional equities, such as the omicron variant, higher inflation, rate hikes coming sooner, and continued struggles in the Chinese real estate market.
Source Fool.com
