Shiba Inu May Be In For A Price Crash: Know This First

Shiba Inu’s (SHIB) lackluster streak came to an end earlier this week after the coin briefly reclaimed the $0.000006 price level. SHIB has since dipped to the $0.000005 mark and could face another steep price correction in the coming days. Let’s discuss what may happen for the memecoin next. Is Shiba Inu (SHIB) heading for another price crash?

Will Shiba Inu Face Another Price Crash?

Shiba Inu (SHIB) is already showing signs of weakness. SHIB’s price has failed to hold on to the $0.000006 price level. According to DefiLlama data, Shiba Inu’s (SHIB) Shibarium network has seen a 74% plunge in tis TVL (Total Value Locked). Shibarium’s TVL stood at over $120,000 a few days ago, but has fallen to the $31,000 level since.

The larger cryptocurrency market is also slowing down, with Bitcoin (BTC) dipping to $79,000. The market rally was fueled by increased liquidity due to the US Treasury’s decision to increase bond buy backs. The move led to more liquidity for the crypto market. High-risk assets such as Shiba Inu (SHIB) were the beneficiaries of the move.

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