Shiba

2024

Tyler

Shiba Inu

Shiba Inu (SHIB) was among the worst performers, trading 5.5% lower on Thursday as the broader market reeled from the Fed’s latest policy decision. The increased concerns of inflation and a 25-bp rate hike from the central bank dampened investor sentiments, affecting meme coins as well. 
<a href="https://www.qubetics.com/?utm_source=TBJ&amp;utm_medium=Shiba+Inu+Price+Crash%3A+What+the+Fed%E2%80%99s+Rate+Hike+Means+for+Meme+Coins+in+2024" rel="nofollow noopener" target="_blank"><img loading="lazy" decoding="async" class="wp-image-51621 size-full aligncenter" src="https://thebitjournal.b-cdn.net/wp-content/uploads/2024/10/WhatsApp-Image-2024-10-20-at-18.03.11.jpeg" alt="Bitcoin price" width="728" height="90" title="Shiba Inu Price Crash: What the Fed’s Rate Hike Means for Meme Coins in 2024 60" srcset="https://thebitjournal.b-cdn.net/wp-content/uploads/2024/10/WhatsApp-Image-2024-10-20-at-18.03.11.jpeg 728w, https://thebitjournal.b-cdn.net/wp-content/uploads/2024/10/WhatsApp-Image-2024-10-20-at-18.03.11-300x37.jpeg 300w" sizes="(max-width: 728px) 100vw, 728px"></a> 
The Fed’s move to hike rates was anticipated, but the markets were let down by the Fed’s reassurance that there would be no drastic rate cuts in 2025. This more measured approach led to the dumping of equities and top digital assets such as Bitcoin (BTC), which had been enjoying quite the rally. Some of the coins that are usually characterized by high <a href="https://thebitjournal.com/">price swings</a> were the most affected. This is despite meme coins seeing declines in their market capitalization, from $117 billion on Tuesday to $106 billion on Wednesday, a 9.4% slump, as stated by CoinMarketCap. 
<figure id="attachment_77621" aria-describedby="caption-attachment-77621" style="width: 100%" class="wp-caption aligncenter">
 <img loading="lazy" decoding="async" class="wp-image-77621 size-full" src="https://thebitjournal.b-cdn.net/wp-content/uploads/2024/12/X.png" alt="Shiba Inu" width="663" height="828" title="Shiba Inu Price Crash: What the Fed’s Rate Hike Means for Meme Coins in 2024 61" srcset="https://thebitjournal.b-cdn.net/wp-content/uploads/2024/12/X.png 663w, https://thebitjournal.b-cdn.net/wp-content/uploads/2024/12/X-240x300.png 240w" sizes="(max-width: 663px) 100vw, 663px">
 <figcaption id="caption-attachment-77621" class="wp-caption-text">
 Source: <a href="https://x.com/KobeissiLetter/status/1869459677190451374" rel="nofollow" target="_blank">The Kobeissi Letter </a>
 </figcaption>
</figure> 
<h2 id="span-style-font-weight-400-shiba-inu-breaks-key-levels-span">Shiba Inu Breaks Key Levels</h2> 
Earlier in the month, SHIB fell below the 21-day moving average (21DMA) and the current decline has now pushed the price under the 50-day moving average (50DMA). These technical breaches are often precursors of drop-offs in prices. 
SHIB has broken below the ascending trendline that guided its recovery since mid-November. These declines make one question how much more the meme coin can lose. The subsequent major support level has been identified at $0.00002160, implying a further downside of 11%. This can fall below the 200DMA which is around $0.000019 or even go lower. 
<figure id="attachment_77623" aria-describedby="caption-attachment-77623" style="width: 100%" class="wp-caption aligncenter">
 <img loading="lazy" decoding="async" class="wp-image-77623 size-large" src="https://thebitjournal.b-cdn.net/wp-content/uploads/2024/12/SHIB-Chart-1024x628.jpg" alt="Shiba Inu" width="1024" height="628" title="Shiba Inu Price Crash: What the Fed’s Rate Hike Means for Meme Coins in 2024 62" srcset="https://thebitjournal.b-cdn.net/wp-content/uploads/2024/12/SHIB-Chart-1024x628.jpg 1024w, https://thebitjournal.b-cdn.net/wp-content/uploads/2024/12/SHIB-Chart-300x184.jpg 300w, https://thebitjournal.b-cdn.net/wp-content/uploads/2024/12/SHIB-Chart-768x471.jpg 768w, https://thebitjournal.b-cdn.net/wp-content/uploads/2024/12/SHIB-Chart-860x527.jpg 860w, https://thebitjournal.b-cdn.net/wp-content/uploads/2024/12/SHIB-Chart.jpg 1536w" sizes="(max-width: 1024px) 100vw, 1024px">
 <figcaption id="caption-attachment-77623" class="wp-caption-text">
 Source: TradingView
 </figcaption>
</figure> 
Nonetheless, the long-term bullish trend from the summer 2024 lows remains unbroken for SHIB. Nevertheless, a decline below this critical trend line is likely to precipitate a further bearish phase. 
Shiba Inu’s fall is indicative of a general bearish trend in the market of meme and other speculative coins. Meme coins, which mostly depend on the enthusiasm of the community and hype, are most likely to suffer during the bearish market. These have been affected by the tight monetary policy stance of the Fed as risk sentiment declines in all financial markets. 
<h2 id="span-style-font-weight-400-shiba-inu-s-growth-opportunity-span">Shiba Inu’s Growth Opportunity</h2> 
However, supporters of cryptocurrencies still have high expectations regarding the further development of the industry. The crypto sphere is more likely to see a shift in the regulatory environment after the Trump administration comes into power. Also, more and more global conversations are being made pertaining to Bitcoin strategic reserves which points to the continued integration of traditional institutions and governments into the world of cryptocurrencies. 
<figure id="attachment_77625" aria-describedby="caption-attachment-77625" style="width: 100%" class="wp-caption aligncenter">
 <img loading="lazy" decoding="async" class="wp-image-77625 size-full" src="https://thebitjournal.b-cdn.net/wp-content/uploads/2024/12/Tweet-X.png" alt="Shiba Inu" width="667" height="536" title="Shiba Inu Price Crash: What the Fed’s Rate Hike Means for Meme Coins in 2024 63" srcset="https://thebitjournal.b-cdn.net/wp-content/uploads/2024/12/Tweet-X.png 667w, https://thebitjournal.b-cdn.net/wp-content/uploads/2024/12/Tweet-X-300x241.png 300w" sizes="(max-width: 667px) 100vw, 667px">
 <figcaption id="caption-attachment-77625" class="wp-caption-text">
 Source: <a href="https://x.com/TylerDurden/status/1868944713069609210" rel="nofollow" target="_blank">Tyler</a>
 </figcaption>
</figure> 
These macroeconomic and geopolitical trends offer a good opportunity for a comeback of meme coins. Shiba Inu being one of the major players in this area may gain a lot from the increased attention towards memecoins and other low-cap coins. 
Traders interested in the token’s long-term holding should probably consider the current SHIB price as an entry point. Meme coins have a history of rallying when they are down and Shiba Inu has the right characteristics of what might be the next big thing in this space. 
The rest of the crypto market is still plagued by issues such as macro economic instability and regulatory risks. Tighter rules across the world may affect meme coins more than other types of coins as most of them are not backed by institutions. 
<img loading="lazy" decoding="async" class="aligncenter wp-image-77627 size-large" src="https://thebitjournal.b-cdn.net/wp-content/uploads/2024/12/SHIB-Image-1024x585.jpg" alt="Shiba Inu price" width="1024" height="585" title="Shiba Inu Price Crash: What the Fed’s Rate Hike Means for Meme Coins in 2024 64" srcset="https://thebitjournal.b-cdn.net/wp-content/uploads/2024/12/SHIB-Image-1024x585.jpg 1024w, https://thebitjournal.b-cdn.net/wp-content/uploads/2024/12/SHIB-Image-300x171.jpg 300w, https://thebitjournal.b-cdn.net/wp-content/uploads/2024/12/SHIB-Image-768x439.jpg 768w, https://thebitjournal.b-cdn.net/wp-content/uploads/2024/12/SHIB-Image-1536x878.jpg 1536w, https://thebitjournal.b-cdn.net/wp-content/uploads/2024/12/SHIB-Image-860x491.jpg 860w, https://thebitjournal.b-cdn.net/wp-content/uploads/2024/12/SHIB-Image.jpg 1792w" sizes="(max-width: 1024px) 100vw, 1024px"> 
<h2 id="span-style-font-weight-400-conclusion-span">Conclusion</h2> 
The recent 5.5% decline of Shiba Inu demonstrates the perils of speculative assets in the current market environment. However, the strength of the community and ethe mergence of the project’s ecosystem gives a reason to be hopeful. With the market adapting to the Federal Reserve’s conservative stance and looking forward to a possibly crypto-friendly US government, Shiba Inu can become one of the biggest winners of the future. Those who can take a short-term loss are likely to find SHIB’s present decline as a good opportunity to invest in a promising coin. 
<a href="https://thebitjournal.com/">The BIT Journal</a> is available around the clock, providing you with updated information about the state of the crypto world. Follow us on<a href="https://twitter.com/Thebitjournal_" rel="nofollow noopener" target="_blank"> Twitter</a> and<a href="https://www.linkedin.com/company/the-bit-journal/" rel="nofollow noopener" target="_blank"> LinkedIn</a>, and join our<a href="https://t.me/thebitjournal" rel="nofollow" target="_blank"> Telegram</a> channel. 
<h2 id="span-style-font-weight-400-faqs-span">FAQs</h2> 
<h3 id="span-style-font-weight-400-why-did-shiba-inu-s-price-drop-by-5-5-span">Why did Shiba Inu’s price drop by 5.5%?</h3> 
It came as the Federal Reserve raised interest rates and adopted a more aggressive stance, which weighed on investors’ sentiment.&nbsp; 
<h3 id="span-style-font-weight-400-what-are-shiba-inu-s-technical-concerns-span">What are Shiba Inu’s technical concerns?</h3> 
Shiba Inu price has broken below crucial moving averages and an ascending trendline to open the path for further decline.&nbsp; 
<h3 id="span-style-font-weight-400-can-shiba-inu-recover-from-this-slump-span">Can Shiba Inu recover from this slump?</h3> 
Indeed, Shiba Inu has a great community, a well-developed ecosystem, and possible changes in the regulation that can lead to its growth.&nbsp; 
<h3 id="span-style-font-weight-400-is-this-a-good-time-to-invest-in-shiba-inu-span">Is this a good time to invest in Shiba Inu?</h3> 
As for the long-term investors, this might be a great chance to buy this rather prospective meme coin at the current price.

Shiba Inu Price Crash: What the Fed’s Rate Hike Means for Meme Coins in 2024

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The Bit Journal

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