Shiba Inu Drops Amid Market Volatility Linked to Tether Investigation

Shiba Inu Drops as Tether News Sparks Crypto Market Downturn

After it was reported that the U.S. was looking into stablecoin issuer Tether, cryptocurrencies saw a general decline on Friday. Paolo Ardoino, the CEO of Tether and CTO of Bitfinex, has denied the report, even though the cryptocurrency market is still losing money and several digital assets are trading in the red. The volatility of the wider market is reflected in Shiba Inu’s continued decline in price. SHIB had dropped 10.06% on a weekly basis and 0.22% on a 24-hour basis to $0.00001685.

SHIB Price at a Crossroads: Whale Activity Ramps Up Between Key Averages

Nonetheless, throughout this time, SHIB‘s transaction volume rose. As the market experiences profit-taking, the rise in huge transaction volume may lead to a surge in activity among SHIB whales. This could indicate that major players are aggressively purchasing or disposing of SHIB in order to position themselves for potential changes in the market.

At $0.00001637 and $0.00001873, respectively, Shiba Inu‘s price is presently stuck between its daily moving averages of 50 and 200. The short-term Shiba Inu price trend may be defined by a break in either direction.

Latest News About Shiba

A recent announcement claims that ShibaSwap has received a significant upgrade. Users will benefit from a new rewards system, smart swap, simple migration, pair-level statistics, and focused liquidity pools with the introduction of the much-awaited ShibaSwap v2. Users will be able to add liquidity within specific price ranges using the new concentrated liquidity pools included in the upgrade, which will increase flexibility and efficiency and offer the possibility of better returns. On the list of liquidity pools page, users can also see the possible payouts within the APR columns.

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