Today's Shiba Inu Price Prediction Decreases and is Ranked 12th Currently

Rancakmedia.com – Today, the Shiba Inu price prediction is dropping and it is in 12th place. Consider the following reasons to sell a Shiba Inu. According to real-time statistics coinmarketcap, today's Shiba Inu price is IDR 0.661677 with a 24-hour trading volume of IDR 32,148,935,598,964.

Shiba inu prices are dropping in rupiah, updated in real time on Coinmarketcap. The Shiba Inu is now down 5.02 percent in the previous 24 hours. Coinmarketcap is now ranked 12th and has a market capitalization of IDR 363,297,902,224,929.

The Shiba Inu currently has a supply of 549,055,952,729,359 SHIB coins in circulation, with no information on the maximum supply. On November 20, 2021, the day before, Shiba Inu was still ranked 11th, just below Dogecoin.

However, since the price of the Shiba Inu Coin has dropped and its ranking has dropped one level to 12, Avalanche or AVAX now has the opportunity to move up to 11th. If you are wondering where to get Shiba Inu coins, the best cryptocurrency exchange to use right now is Binance, Mandala Exchange, OKEx, Huobi Global, and FTX.

Factors Decreasing Shiba Inu Prices

Factors Decreasing Shiba Inu Prices

The declining price of Shiba Inu is one of the factors motivating Shiba Inu holders and other coin holders to sell. Today, cryptocurrency memes can reward investors with life-changing profits. Many success stories and financial gains are currently being shared.

The year 2021 will go down in history due to the unexpected sale investors made of the meme currency. However, these assets have limited intrinsic value, implying that they are more a transfer of wealth than true wealth creation.

In other words, one individual will prosper, while the other will remain static or may lose money. According to some researchers, Shiba Inu owners can pose a special danger to investors who sell their dogs too late.

The Shiba Inu's market capitalization has increased by around 60,000,000 percent since its inception. That implies that if you had invested $1,000 in August 2020, you would now have $60,000,000 if you were able to sell without lowering the price.

Despite the bull run, the Shiba Inu appears to be on the brink of collapse as a result of poor fundamentals and concentrated holdings.

Instead of delivering game-changing advances or application scenarios for blockchain technology, the Shiba Inu presentation started with a tweet from Tesla CEO Elon Musk, who recently acquired the Shiba Inu dog breed.

This growth catalyst is unsustainable as it is based on an external excitement that will quickly fade away or lose its impact when attention turns to the next trendy coin. According to some, the Shiba Inu has attempted to differentiate itself by emphasizing usability.

Additionally, the creators of Shiba Inu are developing an additional decentralized exchange called Shiba Swap, which will allow users to exchange Shiba Inu for other digital assets without the need for intermediaries.

The token is also gaining traction in the real world, as AMC Entertainment started accepting it as payment for entry to its film network. Despite these efforts, the average Shiba Inu holding period on Coinbase is just 14 days, compared to 44 days for competitor joke currency Dogecoin.

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