- Rate Cut and Market Reaction
- Shiba Inu's Price and Trading Volume Growth
- Potential Prospects for Shiba Inu
The recent adjustment of interest rates by the FED has had a significant impact on the crypto market, and Shiba Inu (SHIB) seems to be one of the biggest beneficiaries of this decision.
Rate Cut and Market Reaction
On September 19, 2024, the Fed announced a 50 basis point cut, the first in four years, prompting a positive reaction in the altcoin market.
Shiba Inu's Price and Trading Volume Growth
After the rate cut by the FED, the meme crypto Shiba Inu saw its price rise by more than 6% in 24 hours, reaching $0.000014. This increase is notable, especially for a token that had struggled to maintain support above $0.000013 the previous week. The price increase is accompanied by a rise in trading volume, which climbed more than 60% to $216,950,085 in one day. This increased volume reflects trader optimism, suggesting that the price of SHIB could continue to rise.
Potential Prospects for Shiba Inu
The interest in SHIBA Inu is driven not only by the price increase. Network indicators, such as daily active addresses, also showed a significant improvement. This increased activity on the Shiba Inu blockchain indicates renewed interest and confidence from crypto users and investors. Furthermore, significant transactions, often conducted by whales, have also increased, highlighting a silent drive for token recovery.
The FED’s interest rate cut has stimulated the crypto market and placed Shiba Inu in a favorable position for continued growth. With positive network indicators and rising trading volume, SHIB could be on the verge of entering a new phase of significant growth.
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