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Shiba inu coin has an important point for you. If yo don't know, 99 percent of holders of shib tokens will be liquidated.


shib tokens will be liquidated




For a few weeks, the Shiba Inu cryptocurrency token has remained unchanged. Will it, however, recover and reach its all-time high? Because the social media craze has cooled down, the Shib token has seen a recent drop in value.



There is some conjecture that the Shib token may recover, but social media buzz is difficult to predict. According to CoinMarketCap.com, the Shiba Inu coin token has lost 83 percent of its value from its all-time high in May. Will SHIB's price rise again? All of this will be discussed today.


CoinMarketCap


Let's have a look at the chart and see what the price of SHIBA is doing on August 10th before we get to our point. The Shiba Inu price freeze, which lasted from July 22 to August 6, created a lot of anxiety and confusion. SHIB, on the other hand, broke the silence on August 7 with a 23.30 percent increase, reclaiming the 50-day SMA for the first time since July 7.


This is more than technological advancement; it has positioned the cryptocurrency for a potentially better conclusion if it can overcome resistance produced by the top line of the falling parallel channel. After patience, the Shiba Inu price adds an exclamation point. Last week, the Shiba Inu price rose 15.53 percent, marking the greatest weekly gain since early May and eliminating SHIB from the threat of a new correction low, which has dominated since July 22.


The compression of the Bollinger Bands to a very narrow range, which generally indicates a strong move, was a big effect of the Shiba Inu price action from July 22 to August 6. The bullish narrative and the buy signal for Shiba Inu's price were triggered on August 7 when the price closed above the 50-day SMA.


The breakout from the upper line of the descending parallel channel, presently at $0.00000794, a test of the June 29 high of $0.00000962, and a march to the May 24 and May 20 highs of $0.00001214 and $0.00001204, respectively, have opened up new possibilities for SHIB. SHIB investors would see a 56.00 percent gain from the close above the 50-day SMA on August 7 if the Shiba Inu price rose to $0.00001214.


Let us now return to our original topic. In May 2021, $SHIB experienced a bull run, increasing over 1500 percent in a week after being listed on various cryptocurrency exchanges, including Binance and CoinCDX, an Indian platform. This came after previous listings on the MCX, CoinGecko, and Uniswap exchanges.


$SHIB had risen to almost 310,000 holders, according to its founders. Shiba coin was voted the best cryptocurrency in an online poll, beating out Doge and Safemoon. $SHIB also benefited from Shiba Army shilling, which has resulted in the emergence of a slew of prominent SHIB-specific Twitter handles. 



Bodybuilder Kai Greene, Miami Dolphins wide receiver Preston Williams, and Cleveland Browns wide receiver Rashard Higgins have all endorsed it. Shiba Inu may have also benefited from Elon Musk's in-joke statement in an interview about rival Dogecoin being a "hustle," which lowered Dogecoin's value and made alternatives like SHIB more appealing.


Although the $SHIB's underlying value remains low, the aforementioned developments suggest that the $SHIB is more of a social experiment in community building and understanding the online memetic behavior of a growing class of high-risk traders than a financial investment alone, as its founders have stated.


While it is still a long way from approaching Dogecoin in terms of market capitalization, it is an example of a low-utility joke coin that has sparked and sustained broad attention and involvement. Shiba Inu-Related Health Risks The possibility of its creators defrauding the community or being shut down due to run-ins with government legislation is perhaps the biggest risk with cryptocurrencies like $SHIB and $LEASH.


Even though Shiba Inu is marketed as a decentralised coin, understanding ownership and control inside the Shiba Inu ecosystem is necessary to assess these dangers. There is some indication that the Shiba Inu creators may have ties to Iranian financial entities that have been sanctioned by the US government.


A website called leashdoge.com is listed in a previous version of the Shiba token website and in a subsequent post by Ryushi, but it is no longer viewable on the current Shiba Inu site. The domain name leashdoge.com reveals that it was created by the Iranian corporation Haytech.


The latter specializes in banking, payments, and e-commerce software development. Hekmat Iran Bank, Tose'e Ta'avon Bank, Enbank, and Tosan are among the clients, with several of them related to the Iranian military and appearing on US sanctions lists. Haytech's IP address is listed on a list of cybercrime-related IP addresses.


Also Read: What Binance Just Did With Shiba Inu And Why SHIB Will Hit $0.01



At least two of Haytech's employees are blockchain engineers and have an internet presence. Through their ties to the leashdoge.com project, they may have been engaged in the initial creation of $LEASH and possibly also $SHIB. When considering SHIB as an investment, a number of aspects raise huge red lights. 


The first is the audit findings, which revealed that one developer had the authority and authorization to withdraw user tokens from ShibaSwap to any address. Despite the fact that these flaws were reportedly rectified, the exchange has only been audited once. The fact that the author delivered coins to Buterin in the first place is the next red flag. It's quite impossible to determine what the creator's true intentions were, although it appears to be a marketing ploy.


The fact that Buterin owned the token and was an investor was widely discussed in the Shib Reddit community, which raised people's aspirations even higher. Shiba Inu's value soared by 1000s of percent in the first few months of this year. The price of SHIB, on the other hand, has plunged almost -70 percent from its highs due to market dynamics. For SHIB to be clear to start a new rally back to former highs, BTC must establish its footing above 35k.


The price of SHIB is frequently tracked by DOGE, which has shown some signs of resurgence. According to AMB Crypto, a cryptocurrency news website, the Shib token may soon return. The coin's value has declined in recent days, indicating that people are buying it because most cryptocurrency buyers purchase when the price is low and sell when the price is high. "The token's volume has begun to increase as well. According to AMB Crypto, “if these two metrics continue to trend in the same way, SHIB's price may rebound soon.”


The Shiba Inu currency, according to experts at Investor Place, has the potential to dethrone Dogecoin. The issue is that the Shiba Inu token will never be widely accepted. According to Investor Place, "SHIB coin might likely continue to trend upward, and it could be a Dogecoin killer," but "this doesn't matter in the least." "Being the Dogecoin assassin won't provide Shiba Inu any long-term validation. A meme currency that defeats another meme coin nevertheless has a shaky base.



We'd also want to point out that this isn't a website that's designed to give financial advice, and we're not asking you to invest in any firm. This is simply a channel for delivering instructional content to your doorstep. With that in mind, we urge that you conduct an extensive broad-spectrum study on the subject before investing in anything.

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