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Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning
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Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning

Is It Time To Buy Shiba Inu? Investors Take Notice Of Lowest SHIB Price In Months

Christian Encila
Christian Encila
2 years ago
3 mins read
Shiba Inu

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Shiba Inu (SHIB) coins have been creating a buzz in the cryptocurrency market, particularly with the recent surge in popularity of meme coins. However, the popular meme-inspired token has experienced a downtrend in its price recently, leaving investors wondering about its future prospects. 

With the uncertainty surrounding SHIB coins, the question on many investors’ minds is whether now is the right time to invest in this cryptocurrency.

Let’s explore the potential of Shiba Inu coins and whether now is the right time to jump on board.

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Shiba Inu (SHIB) Hits ‘FTX Low’ After Weeks Of Freefall

Shiba Inu token has been experiencing a continuous downward trend for almost four weeks now, leading to its value dropping to what is commonly known as the “FTX Low.”

This refers to the price range of around $0.0000082 per SHIB, which was last seen in November 2020 after FTX, one of the biggest cryptocurrency exchanges then, announced its insolvency.

Amid the volatility of the cryptocurrency market, Shiba Inu coins continue to make headlines. As of the latest update on CoinGecko, the price of SHIB stands at $0.000008896, down 1.19% over the last 24 hours. However, the coin has experienced an 11.56% slump in the past seven days, reminding us of the unpredictable nature of the market.

Source: CoinMarketCap

Despite showing a promising 94% increase in value over the past six months, SHIB has now crashed to its current all-time low. This has raised concerns among investors regarding whether the token is still a viable investment option.

Positive Signs Amid A Turbulent Market For The Meme Coin

In the wake of the recent downward spiral of the Shiba Inu token, there are still some positive indicators that investors should take note of. According to a report by IntoTheBlock, large holders are showing a high level of buying activity amidst the current market turbulence.

The report shows there has been a significant increase in net inflow from large holders since Sunday. The data shows that the net inflow has risen by 1.35 trillion SHIB, indicating that investors who hold more than 0.1% of the coin are actively accumulating the token.

SHIB total market cap currently at $5.3 billion on the daily chart at TradingView.com

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Increased Buying Activity

This buying activity from large holders suggests that they have confidence in the long-term prospects of the token. It also implies that they are anticipating a potential rebound in value in the near future.

While the current market conditions may be challenging for SHIB, investors may find some comfort in these positive signs.

-Featured image from Pixabay

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Christian Encila
Christian Encila

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Read more

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

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