Shiba Inu's price has experienced a decline, which is linked to Bitcoin’s recent price adjustment in the cryptocurrency market. This shift in Bitcoin’s value has had a ripple effect, influencing other cryptocurrencies including Shiba Inu.
MVRV analysis highlights that short-term traders might be engaging in profit-taking strategies. This could be contributing to the observed price movements in Shiba Inu, as traders react to the changes in Bitcoin’s price.
The ongoing adjustments in the cryptocurrency market underscore the interconnected nature of digital currencies and the impact of Bitcoin’s price on other assets.
