The post What’s Behind the Recent Shiba Inu Price Changes? appeared on BitcoinEthereumNews.com.

Shiba Inu price, a prominent meme coin, has recently witnessed a substantial 41% increase in its value over the past month, marking a robust bullish trend. This surge has contributed to an overall growth of 195% in the past year, boosting confidence among investors. Despite these gains, the market has recently shown signs of a slight correction. Let’s delve into the factors influencing Shiba Inu’s price fluctuations. What’s Behind the Recent Shiba Inu Price Changes? Today, the crypto market witnessed a broad sell-off, causing significant price drops across all major cryptos. This downturn also led to a notable decline in Shiba Inu’s value. Factors such as heightened market volatility, strategic institutional actions, and traders taking profits contributed to this trend.  A wave of liquidations proved especially challenging for long-position holders. The market cap fell by 2%, settling at $3.2 trillion. Bitcoin also saw a reduction, with its price dropping to $93,000. The Shiba Inu price has recently experienced notable fluctuations, primarily driven by significant changes in token-burning activities. In the past 24 hours, the amount of SHIB tokens burnt has decreased by 75.41%, totaling 1,442,783 tokens. This sharp reduction in burning activity has contributed to the changes in SHIB’s market price. HOURLY SHIB UPDATE$SHIB Price: $0.00002433 (1hr 0.18% ▲ | 24hr -6.88% ▼ )Market Cap: $14,375,888,019 (-6.75% ▼)Total Supply: 589,261,980,763,504 TOKENS BURNTPast 24Hrs: 1,442,783 (-75.41% ▼)Past 7 Days: 202,273,255 (262.14% ▲) — Shibburn (@shibburn) November 26, 2024 Recent fluctuations in the price of Shiba Inu have caught the attention of many investors. This change is linked to similar declines in other meme coins like Dogecoin, WIF, and PEPE. These correlations have sparked discussions about the broader impacts on the meme coin market.  Will SHIB Price Rebound or Fall? The SHIB price experienced a 7% decline at $0.0000239 over the past…

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Filed under: News - @ November 27, 2024 2:25 am