Shiba Inu Price Plunges As Traders Eye This ICO With 379% APY

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The Shiba Inu price dropped 16% in the last 24 hours to trade at $0.000020 as of 4.45 a.m. EST on trading volume that surged 11% to $1.56 billion.

The reason behind the drop was the US Federal Reserve Chair Jerome Powell’s recent comments, indicating caution over interest rate cuts that spooked markets.

Powell said that inflation might be higher than expected, which could result in interest rates remaining high for longer, which resulted in a broad sell-off in risk assets, with crypto markets seeing $1.2 billion in liquidations. Powell also dismissed speculation on Bitcoin reserves which Trump introduced as an idea during his presidential campaign, which further contributed to the sell-off.

As Bitcoin crashed, the rest of the crypto market followed, with many among the top 10 largest cryptos dropping more than 10%. By far the biggest loser on this list is Dogecoin, which dropped over 17%.

Meanwhile, in the meme coin sector, most cryptos have been crashing just as much. Pepe dropped 15%, while Pudgy Penguins and Peanut The Squirrel are the largest losers among major meme coins with 22% and 25% drops, respectively.

In other words, while meme coins are among the largest gainers and among the first cryptocurrencies to surge when the market starts turning bullish, they also see the largest and sharpest declines when the bears take over.

Shiba Inu Price Prediction

Shiba Inu has seen its price descend quite sharply in the last day and a half, going from $0.000026 to $0.000020. The project’s Bollinger bands have gone through several cycles of widening during sharp drops, only to see a sharp tightening as the price reached its next support, only for the process to repeat itself when the support broke and the price entered free fall again.

Right now, the bands have widened again as the price continues its descent, but since the project has a strong support at $0.000020, this could prevent the price from dropping further, so the process might end here, or it might break the support and begin anew.

Shiba Inu Price Prediction

The project’s Relative Strength Index (RSI) value has been following a similar pattern, mostly fluctuating between the neutral area at 50 and the oversold zone, sometimes dropping beyond the value of 30, down to 25, or even further.

This suggests that the traders are jumping on any opportunity to buy the dip and sell quickly for minor profits. Once the price finds its bottom, however, it will offer a great opportunity to buy SHIB at a cheap price, as the descent is likely to be followed by a sharp recovery when the bearish wave passes. With that said, the opportunity seekers should keep a close eye on SHIB, and wait for the right time to make their move.

Promising Alternative To Shiba Inu

Investors looking for newer alternatives to SHIB might consider the Flockerz (FLOCK) ICO, which has just breached the $7.3 million mark.

Flockerz is a community-oriented project to the point where it calls itself ”The People’s Meme Coin.” It introduced a new model called Vote-To-Earn, which allows crypto investors to buy its token, and then join the governance process to earn rewards whenever they vote on a proposal.

This way, the project’s token holders get to earn cryptos while helping Flockerz decide on what upgrades to implement and what to add or change. Meanwhile, the project itself gets to secure high participation in governance, which ensures that it will maintain high levels of decentralization.

💙There are 3 things the flock loves💙

1. Community
2. Voting
3. EARNING 📈📈 pic.twitter.com/76GRTfvrep

— Flockerz (@FlockerzToken) December 18, 2024

Furthermore, after they get their FLOCK tokens from voting rewards, users can stake them and get even more from staking rewards, which currently sit at a huge 379% APY.

In other words, Flockerz is a passive earning machine that lets you earn in two different ways with minimal interaction, and all it takes is to buy its token, vote on its proposals, and lock up your FLOCK in its staking smart contract.

ClayBro, a crypto YouTuber with over 134k subscribers, said that the project could be a crypto with 30x potential, so there is even a chance to make major gains from its price action after the ICO ends.