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The meme token might recover from its fall
Source: Alfa Grandpa / Shutterstock.com
Shiba Inu (SHIB-USD) is joining the crypto crash today and that has some traders of the meme token wondering about price predictions.
So what’s behind today’s crypto crash? Inflation data being higher than expected last week upset traders across many markets. With that comes concerns that the Federal Reserve is going to speed up attempts to combat inflation.
The idea of the Fed increasing interest rates even faster, or taking other measures to curb inflation, has markets in a slump. That includes the crypto market, which is experiencing a major crash today after what’s already been a rough year so far.
With that out of the way, let’s take a look at what experts think will happen to Shiba Inu in the coming months.
Those price predictions for Shiba Inu aren’t looking too bad next to its price of about $0.00000818 today. However, it’s worth noting that the crypto is down 11.6% over the previous 24-hour period as of Monday afternoon.
There’s more crypto news for traders to dive into below!
InvestorPlace has all the most recent crypto news to keep up with on Monday! A few examples include MicroStrategy (NASDAQ:MSTR) falling hard, stablecoin USDD (USDD-USD) slipping, and Cronos (CRO-USD) price predictions. You can read up on this news at the following links!
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
Article printed from InvestorPlace Media, https://investorplace.com/2022/06/shiba-inu-price-predictions-can-shib-recover-from-this-ugly-crypto-crash/.
©2022 InvestorPlace Media, LLC
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