Last Updated on March 11, 2023 by Bitfinsider
Shiba Inu prices have dropped by 5% in the last 24 hours, despite the news of Silvergate Bank’s liquidation, as well as the Federal Reserve’s more hawkish attitude on further rate increases.
SHIB is also down 17% in a week and 30% in the last 30 days, with today’s losses lowering its year-to-date profits to 10%.
In the middle of this sell-off, SHIB has become one of the most-traded currencies in the last 24 hours, ranking 14th among “top bought tokens” on CoinGecko today.
The meme coin is also the most commonly owned cryptocurrency among whales, suggesting that it is still popular with large buyers.
With the impending launch of layer-two network Shibarium, SHIB could easily make a recovery in the coming days, with the release of SHIB: The Metaverse later this year possibly propelling it further in the long run.
When it does go live, there’s a good possibility that SHIB will experience a bounce, though this may be dampened somewhat by the overall negative condition of the cryptocurrency market.
At the same time, the launch of layer two will raise SHIB burning through the destruction of transaction fees, which will increase the meme token’s price in the long term.
How to buy or trade SHIB on ProEX
You can buy or trade SHIB on ProEX. As ProEX frequently holds campaigns and events, you should check out its event page here to see if you can participate and win rewards as you trade.
On ProEX, you can trade SHIB as a spot pair (SHIB/USDT) in 3 simple steps:
- Sign up and register an account on ProEX
- Buy USDT via ProEX One-click Buy
- Trade SHIB/USDT at ProEX Spot
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Disclaimer: The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, legal, tax or other advice. Investing in or trading cryptocurrency or stocks comes with a risk of financial loss.