At the same time, SHIB’s price increase has outpaced that of its competitors in the sector, which can now be considered Dogecoin and BabyDoge. These two coins have been largely overtaken by the Shiba Inu, which seems to be on the rise again.
Thus, SHIB adds another green candle to the chart, which fits perfectly with the uptrend the coin has been experiencing since late July. It appears that SHIB is deliberately heading towards the important $0.000014 price level. After breaking through it, SHIB quotes may go as high as $0.00002, a level not seen since May of this year. Nevertheless, whether or not this happens will depend on the general market sentiment around it.
What about inflation?
Inflation in the United States fell for the first time in four months. After a record 9.1%, it fell to 8.5%, 0.2% below analysts’ forecasts. The main reason for the forecast of lower inflation was a significant drop in gasoline prices in July. Nevertheless, it makes sense to keep in mind the thesis that nothing is over yet. So far, there is no reason to believe that the downward trend in inflation is sustainable. Oil prices are rising, and there are a lot of complex things going on in the world right now. Rates will continue to rise, and liquidity will disappear from the market.
