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

Rancakmedia.com – Today, Shiba Inu price prediction is decreasing and is ranked 12th. Consider the following reasons to sell 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 decreasing in rupiah updated in real time on Coinmarketcap. Shiba Inu is now down 5.02 percent in the previous 24 hours. Coinmarketcap now has a ranking of 12 and a market capitalization of IDR 363,297,902,224,929.

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

However, as the price of Shiba Inu Coin has fallen and its ranking dropped one level to 12, Avalanche or AVAX now has a chance to rise to 11th. If you are wondering where to get Shiba Inu coins, the best cryptocurrency exchanges to use right now are Binance, Mandala Exchange, OKEx, Huobi Global, and FTX.

Factors for Decreasing Shiba Inu Prices

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

The year 2021 will go down in history due to the unexpected sell-off that investors made in meme currencies. However, these assets have limited intrinsic value, implying that this is more of a wealth transfer than true wealth creation.

In other words, one individual will prosper, while another will remain static or possibly lose money. According to some researchers, Shiba Inu owners can pose a special danger to investors who are late in selling their dogs.

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

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

Rather than providing game-changing advances or application scenarios for blockchain technology, the Shiba Inu presentation began with a tweet from Tesla CEO Elon Musk, who recently acquired the Shiba Inu dog breed.

This growth catalyst is not sustainable because it is based on external excitement that will quickly dissipate or lose its impact when attention shifts to the next trendy coin. According to some, 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 an intermediary.

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