There is a sense of caution in the market for Shiba Inu Coin following a 580-point high, as the crypto world waits to see what the Federal Reserve has in store.<\/p>\n
In just a few hours, the coin was seen to have given up some of those gains and come down to 470 points, according to technicals put out by 99Bitcoins. It is a case of broader market jitters; with the Fed\u2019s rate call on the horizon, there is a lot of risk-off sentiment in the air. The prospect of any kind of rate change has made for some volatile times in digital assets, prompting many to trim their exposure while the macro picture remains uncertain.<\/p>\n
You would think the correction would put a damper on things, but SHIB\u2019s volume has been anything but subdued. In a matter of two days, 8.36 trillion of the token changed hands, a twelvefold jump. 99Bitcoins attributes this to the fact that the meme coin is still drawing in its share of speculators, price movements notwithstanding. With so much activity, it seems a good number of traders are making their moves ahead of any post-Fed volatility. For the retail side of the market, SHIB is still where you go for some high-stakes play.<\/p>\n
There is a sense of wariness in the market right now. The Fear & Greed Index has posted a 35, and it shows: fear is in control. Still, some see that as an opportunity. 99Bitcoins\u2019 analysts suggest looking at these lulls as a time to get in, and they recommend building up a position in SHIB while the rest of the market is still on edge.<\/p>\n
On the other side, the Shiba Inu team has put together close to $5 million for community projects. It is a sign of how the meme coin space is holding its own, with SHIB leading the way. Some believe that a nod in the right direction from the Fed will be enough to put the price back on an upward trajectory, and for now, everyone from the day trader to the HODLer is keeping an eye on what the central bank does next.<\/p>\n
Source \u2014 99Bitcoins: https:\/\/www.youtube.com\/watch?v=PwLqEYV7HUE<\/a><\/em><\/p>\n <\/p>\n Stay ahead of market moves like SHIB’s pullback by honing your skills with our risk-free crypto trading simulator. Practice risk-free trading<\/a>.<\/p>\n <\/p>\n