Shiba Inu Down More Than 3% Within 24 hours
Portfolio Pulse from Benzinga Insights
Shiba Inu (CRYPTO: SHIB) has seen a 3.58% decrease in price over the last 24 hours, contrasting with a 4.0% increase over the past week. The trading volume has decreased by 33%, and the circulating supply has slightly decreased by 0.13%, with a current market cap ranking of #13 at $16.33 billion.
April 09, 2024 | 7:02 pm
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NEGATIVE IMPACT
Shiba Inu (SHIB) experienced a 3.58% price drop in the last 24 hours, despite a 4% gain over the week. The trading volume and circulating supply have also seen decreases.
The short-term price drop of 3.58% in Shiba Inu, despite its recent weekly gain, indicates a potential negative impact on investor sentiment in the short term. The decrease in trading volume and a slight reduction in circulating supply could further contribute to price volatility. However, its position as the 13th largest crypto by market cap suggests underlying strength that might mitigate long-term negative effects.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100