The cryptocurrency markets are experiencing a significant decline during a highly volatile weekend. Bitcoin and a number of altcoins have also been affected by the current market trends.
Current Volatility in the Cryptocurrency Market
On Sunday, the cryptocurrency markets faced a sharp decline, continuing the trends of the previous days. Bitcoin has shown a decline for the third day in a row, intensifying risk-off signals across the markets. According to CoinGlass, $539 million in crypto assets have been liquidated in the last 24 hours.
Shiba Inu Amid Market Instability
Shiba Inu has also become a victim of bearish trends, dropping 6.33% in the last 24 hours and 14% weekly. The current Sunday trading has shown the asset testing a significant support where 463 trillion SHIB tokens are being held.
Potential Outlook for Shiba Inu
If Shiba Inu manages to hold this key support level, a price rebound could occur in the upcoming sessions. However, if the decline continues, the support at the level of 463 trillion tokens will be lost, potentially leading to further selling.
The development of the situation in the cryptocurrency market will depend on Shiba Inu's ability to maintain the support level under pressure. Traders and investors are closely monitoring the developments.
