{"id":633219,"date":"2024-08-05T16:30:54","date_gmt":"2024-08-05T16:30:54","guid":{"rendered":"https:\/\/wncen.com\/?p=633219"},"modified":"2024-08-05T11:27:04","modified_gmt":"2024-08-05T11:27:04","slug":"shiba-inu-price-crashing-today","status":"publish","type":"post","link":"https:\/\/wncen.com\/shiba-inu\/shiba-inu-price-crashing-today\/","title":{"rendered":"Why Is The Shiba Inu Price Crashing Today?"},"content":{"rendered":"

With the Bitcoin price crash<\/a> over the weekend, the prices of other cryptocurrencies such as Shiba Inu<\/a> have followed sharply. The result of this has been a double-digit price crash for Shiba Inu, alongside other altcoins. Naturally, the rapid decline has raised questions, with industry stakeholders wondering what is driving this massive crash.<\/p>\n

Shiba Inu Price Crash Is Following Bitcoin<\/h2>\n

The Shiba Inu price crash being experienced today is not a result of a single event occurring for the meme coin<\/a>. Rather, it is linked to a further market-wide crash that began with the Bitcoin price first falling below $60,000 and eventually breaking $50,000 on Monday. Therefore, to get the real reason behind the Shiba Inu price crash, we must look at the reason driving the Bitcoin crash.<\/p>\n

Related Reading: MATIC: Market Nosedive Leads To 30% Wipe In Value<\/a><\/div>\n

So far, Bitcoin<\/a>, and the broader crypto market, has been responding to major events happening around the world. These are outline by pro trader Adam Khoo in an X (formerly Twitter) post, revealing a much deeper reason for the decline.<\/p>\n

One of these major events is the decline in the Japanese stock market, which is seeing its largest single-day decline since 1987. As Khoo outlined, traders on the Japanese stock exchange had borrowed the Japanese Yen at low interest rates to convert to United States Dollar<\/a>, which is, in turn, used to buy US stocks for a larger gain.<\/p>\n

This strategy has worked for the trader as Yen’s interest rates remained low. However, the Japanese government raised interest rates, meaning that these traders were now dealing with massive losses as the Yen strengthened against the US dollar.<\/p>\n

The result of this is a large sell-off as traders scramble to pay back their loans while taking huge losses in the process. Naturally, this led to a decline in US stocks and the likes of Bitcoin<\/a> and Shiba Inu have been reacting to this market decline.<\/p>\n

\n

The sharp rise in the JPY\/USD is causing a massive unwind of Yen carry trade positions and contributing to the sharp decline in US stocks. For those who do not understand how this works, a brief explanation<\/p>\n

1) Many traders were borrowing Jap Yen (JPY) at low interest rates,\u2026 pic.twitter.com\/sfi0Hva56M<\/a><\/p>\n

\u2014 Adam Khoo (@adamkhootrader) August 5, 2024<\/a><\/p><\/blockquote>\n

Not only this, other major events such as war escalation in the Middle East, as well as the US presidential elections having no clear winner yet, has driven prices down further. With fear and panic spreading, more investors are selling, causing an already deep decline to depend further.<\/p>\n

Related Reading: Dogecoin Price (DOGE) Slips Alongside Bitcoin and Ethereum: Market Analysis<\/a><\/div>\n

However, while investors in assets such as Shiba Inu<\/a> panic, the crypto trader does not believe that it is all bad. According to him, this is a great time to \u201ctake advantage of temporary mis-pricing caused by short term crisis.\u201d<\/p>\n

Presently, the Shiba Inu price<\/a> is sitting at $0.00001111 – its lowest level in six months. Going by the trader\u2019s sentiment, this could be a good time to get into coins such as Shiba Inu, as a rebound from here could lead to new all-time highs.<\/p>\n

\"Shiba
SHIB price drops to lowest level in 6 months | Source: SHIBUSDT on Tradingview.com<\/a><\/figcaption><\/figure>\n
Featured image created with Dall.E, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"

With the Bitcoin price crash over the weekend, the prices of other cryptocurrencies such as Shiba Inu have followed sharply. The result of this has been a double-digit price crash for Shiba Inu, alongside other altcoins. Naturally, the rapid decline has raised questions, with industry stakeholders wondering what is driving this massive crash. Shiba Inu Price Crash Is Following Bitcoin The Shiba Inu price crash being experienced today is not a result of a single event occurring for the meme coin. Rather, it is linked to a further market-wide crash that began with the Bitcoin price first falling below $60,000 and eventually breaking $50,000 on Monday. Therefore, to get the real reason behind the Shiba Inu price crash, we must look at the reason driving the Bitcoin crash. Related Reading: MATIC: Market Nosedive Leads To 30% Wipe In Value So far, Bitcoin, and the broader crypto market, has been responding to major events happening around the world. These are outline by pro trader Adam Khoo in an X (formerly Twitter) post, revealing a much deeper reason for the decline. One of these major events is the decline in the Japanese stock market, which is seeing its largest single-day decline since 1987. As Khoo outlined, traders on the Japanese stock exchange had borrowed the Japanese Yen at low interest rates to convert to United States Dollar, which is, in turn, used to buy US stocks for a larger gain. This strategy has worked for the trader as Yen’s interest rates remained low. However, the Japanese government raised interest rates, meaning that these traders were now dealing with massive losses as the Yen strengthened against the US dollar. The result of this is a large sell-off as traders scramble to pay back their loans while taking huge losses in the process. Naturally, this led to a decline in US stocks and the likes of Bitcoin and Shiba Inu have been reacting to this market decline. The sharp rise in the JPY\/USD is causing a massive unwind of Yen carry trade positions and contributing to the sharp decline in US stocks. For those who do not understand how this works, a brief explanation 1) Many traders were borrowing Jap Yen (JPY) at low interest rates,\u2026 pic.twitter.com\/sfi0Hva56M \u2014 Adam Khoo (@adamkhootrader) August 5, 2024 Not only this, other major events such as war escalation in the Middle East, as well as the US presidential elections having no clear winner yet, has driven prices down further. With fear and panic spreading, more investors are selling, causing an already deep decline to depend further. Related Reading: Dogecoin Price (DOGE) Slips Alongside Bitcoin and Ethereum: Market Analysis However, while investors in assets such as Shiba Inu panic, the crypto trader does not believe that it is all bad. According to him, this is a great time to \u201ctake advantage of temporary mis-pricing caused by short term crisis.\u201d Presently, the Shiba Inu price is sitting at $0.00001111 – its lowest level in six months. Going by the trader\u2019s sentiment, this could be a good time to get into coins such as Shiba Inu, as a rebound from here could lead to new all-time highs. Featured image created with Dall.E, chart from Tradingview.com<\/p>\n","protected":false},"author":541,"featured_media":633220,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83740],"tags":[83668,89178,84473,83667,89157,86437,84562,84558],"class_list":["post-633219","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-shiba-inu","tag-shib","tag-shib-news","tag-shib-price","tag-shiba-inu","tag-shiba-inu-news","tag-shiba-inu-price","tag-shibusd","tag-shibusdt"],"acf":[],"yoast_head":"\nWhy Is The Shiba Inu Price Crashing Today?<\/title>\n<meta name=\"description\" content=\"With the Bitcoin price crash over the weekend, the prices of other cryptocurrencies such as Shiba Inu have followed sharply.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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This has seen Best dive into topics in areas such as decentralized finance (DeFi), non-fungible tokens (NFTs), Layer 2 blockchains, etc. In addition to this, Best is a vocal member of the crypto community across various social media platforms such as X and Reddit. Best\u2019s work garners tens of thousands of readers monthly, who rely on the information in these publications to keep up-to-date with everything happening in the crypto community. Best\u2019s articles explore breaking news, intricate systems such as yield farming, liquidity pools, and other decentralized finance (DeFi) systems. This is because Best understands the importance of information to gaining financial freedom and believes that everyone should have access to this information. Best also believes in leveraging the blockchain for philanthropy to create the most positive social impact. This involves work with charitable organizations focused on financial literacy and education. With each article, Best lends a voice to important issues such as a more financially inclusive future, transparent systems for growth and development, and technology that is not self-serving but one that serves all of humanity. When not curating engaging content, Best can be found reading a book with a cup of hot chocolate, enjoying a Netflix series, or exploring the outdoors with Green - the world\u2019s most quiet and well-behaved Husky. Best\u2019s interests also span other industries such as art, finance, and security, attending seminars and conferences in not just the crypto industry but other industries as well. As an animal lover, Best is also involved with charities for animals, local shelters, and rescues. Best is also involved in local events that promote inclusivity, such as being a prominent member of hiking clubs and a cycling club, as well as being a part of a very happy group of animal lovers. Best is a true professional in every sense of the word, with an exceptional dedication to producing high-quality work. This shines through in Best's work on and off the clock. These include advocating for inclusive crypto education for all, the impact of financial illiteracy, and the benefits of adopting new technologies such as cryptocurrencies. Best\u2019s prolific career in the media industry is a testament of how hard work and dedication pays.","sameAs":["https:\/\/www.linkedin.com\/in\/best-owie-41a150178\/","https:\/\/x.com\/https:\/\/twitter.com\/BestOwie"],"url":"https:\/\/wncen.com\/author\/owiebest\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Why Is The Shiba Inu Price Crashing Today?","url":"http:\/\/wncen.com\/shiba-inu\/shiba-inu-price-crashing-today\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/shiba-inu\/shiba-inu-price-crashing-today\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/08\/Shiba-Inu-price-crash.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/08\/Shiba-Inu-price-crash.jpeg?fit=1024%2C802"},"articleSection":"Shiba Inu","author":[{"@type":"Person","name":"Best Owie"}],"creator":["Best Owie"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["shib","shib news","shib price","shiba inu","shiba inu news","shiba inu price","shibusd","shibusdt"],"dateCreated":"2024-08-05T16:30:54Z","datePublished":"2024-08-05T16:30:54Z","dateModified":"2024-08-05T16:30:54Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Why Is The Shiba Inu Price Crashing Today?\",\"url\":\"http:\\\/\\\/wncen.com\\\/shiba-inu\\\/shiba-inu-price-crashing-today\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/shiba-inu\\\/shiba-inu-price-crashing-today\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/08\\\/Shiba-Inu-price-crash.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/08\\\/Shiba-Inu-price-crash.jpeg?fit=1024%2C802\"},\"articleSection\":\"Shiba Inu\",\"author\":[{\"@type\":\"Person\",\"name\":\"Best Owie\"}],\"creator\":[\"Best Owie\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"shib\",\"shib news\",\"shib price\",\"shiba inu\",\"shiba inu news\",\"shiba inu price\",\"shibusd\",\"shibusdt\"],\"dateCreated\":\"2024-08-05T16:30:54Z\",\"datePublished\":\"2024-08-05T16:30:54Z\",\"dateModified\":\"2024-08-05T16:30:54Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/08\/Shiba-Inu-price-crash.jpeg?fit=1024%2C802","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/633219"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/541"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=633219"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/633219\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/633220"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=633219"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=633219"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=633219"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}