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FXStreet Team
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A brief technical and on-chain analysis on Shiba Inu price. Here, FXStreet’s analysts evaluate what SHIB must do to resume its uptrend.
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Celsius, a leading crypto lending platform, is suffering a liquidity crisis as the crypto market continues to plummet. The project has unstacked $247 million worth of Wrapped Bitcoin from AAVE and sent it to the FTX exchange.
TRON’s decentralized stablecoin USDD lost its peg by nearly 1%. Justin Sun has assured the community that the TRON DAO reserve will protect USDD from a de-peg.
Shiba Inu coin is back in the top 10 cryptocurrencies by trade volume among 500 largest Ethereum whales overnight. Whales have continued to scoop up the meme coin, regardless of the downtrend in Shiba Inu price.
Bitcoin price has crashed quite a bit over the weekend, taking Ethereum, Ripple and other altcoins with it. The cause of this brutal market downswing seems to be two-fold – fears around the solvency of the Celsius Network and the CPI announcement.
BTC is at a point in its journey through the bear market where investors are split into camps that are expecting a relief rally, a continuation of the crash and a full-blown bull rally. Interestingly, none of the aforementioned theses is wrong per se.
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