Shiba Inu (SHIB) Shines Green In Pool Of Crimson – Who’s Buying?

On Friday, the price of Shiba Inu (SHIB) increased, despite the fact that the rest of the cryptocurrency market is suffering significant losses because of a prolonged unfavorable trend. Apparently, the dog-themed coin’s price has risen 3.74 percent in the last 24 hours and is presently trading at $0.0000001026, leading the market in daily advances among the top 100 cryptocurrencies by market capitalization, according to statistics from CoinMarketCap. Bears have successfully knocked the price of Bitcoin (BTC) below the $20,000 threshold, diminishing market recovery hopes. Suggested Reading | Bitcoin Slides Under $20K – Another Collapse In The Offing? Shiba Inu Leads Top-Cap Cryptos Based on data from CoinMarketCap, the overall market capitalization of cryptocurrencies was $864 billion after falling 4% in the preceding 24 hours. Shiba Inu led the top-cap cryptos with gains between $1 and 4% over the same time frame. According to Coinglass statistics, the 10% drop in Shiba Inu price on Friday generated $1.44 million in SHIB futures liquidations across exchanges. Despite exhibiting strength in recent days, Shiba Inu was at risk of incurring additional losses. Even with the revelation of ShibsSwap’s Shib Inu burn portal rewards, the technical setup indicates that price growth will deteriorate. SHIB total market cap at $5.45 billion on the daily chart | Source: TradingView.com The SHIB burn portal was created t...