Shiba Inu: 94 trillion SHIB face uncertainty amid crypto market sell-off
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In contrast, a rebound might pave the way for additional increases, potentially bringing SHIB to a major barrier area between $0.000018 and $0.000019, where 421 trillion SHIB are currently held.'s price drop coincides with a broader market decline, as the mood shifted to negative following a statement on the economy and monetary policy by Jerome Powell, chairman of the U.S. Federal Reserve, at an event in Portugal.
Markets have marginally reduced the odds of a rate decrease at the Fed's Federal Open Market Committee meeting in September, which are still about 65%, according to CME Group's FedWatch Tool.Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.
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