empty
10.11.2021 07:31 PM
Falling Bitcoin and exhausted Shiba Inu: is the cryptocurrency market tired of records?

Throughout Wednesday's trading session, the value of the first cryptocurrency shows a steady drop. At the time of writing, digital gold is trading near the $ 66,400 mark (-2.33%).

The altcoin market has adopted the trend of the main virtual asset and is also actively declining. Thus, the value of Ethereum sank by 1.58% to $ 4728, and Binance Coin lost 1.49% and is trading at $ 635.

This image is no longer relevant

At the moment, the Bitcoin price has rolled back from the record highs updated a day ago by more than 2%. The rapid retreat in value confirms BTC's desire to lock in profits after a new record and catch its breath a little.

Experts say that this trend of the digital coin highlights the uncertainty of market participants in its future, and especially the cautious attitude towards Bitcoin. Moreover, the uncertainty of cryptocurrency buyers in its stability extends to many leading altcoins.

So, the popular Shiba Inu meme coin is still holding on to the $0.000050 level, not reacting to the current positive news for it. According to the latest data, since SHIB reached a record high on October 28, it has lost more than a third of its market price.

As for the positive news, on the eve of the Wealthsimple trading platform included the Shiba Inu cryptocurrency in its ecosystem. In addition, one of the leading American cinema chains, AMC, announced that it plans to accept altcoin for payment services along with Bitcoin and Dogecoin in the near future.

AMC's decision is related to an October poll on Twitter when representatives of the company asked users whether it was worth increasing the list of supported digital currencies. More than 80% of the participants in the virtual survey voted for the idea of adding the SHIB coin to the list.

As for the inclusion of the dog cryptocurrency in the ecosystem of the Wealthsimple trading platform, now the clients of the platform will be able to buy and sell virtual assets, but exclusively on the Wealthsimple network. Previously, SHIB was included in the work of the well-known cryptocurrency exchanges Coinbase and Binance among traders. Thanks to this solution of trading platforms, since that moment the value of the meme coin has increased by more than 100%.

Irina Maksimova,
Analytical expert of InstaForex
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

The Pound in a Trap: Why UK Inflation Is Scarier Than a US Recession

A new chapter is beginning on the currency market, and the British pound appears to be writing it. April's inflation data came as a real shock to investors: the UK's

Anna Zotova 00:05 2025-05-22 UTC+2

Falling indices, Tesla's surge, and Julius Baer's collapse: a day of sharp contrasts in the markets

Rge benchmark stock indices are falling: * Dow -0.27%, * S&P 500 -0.39%, * Nasdaq -0.38% Tesla is rising after Musk announced his willingness to return as CEO. Home Depot

12:40 2025-05-21 UTC+2

US Market News Digest for May 21

Following a staggering $8.6 trillion rally, the US market is showing signs of fatigue. Despite negative macroeconomic indicators and the recent US credit rating downgrade, Morgan Stanley maintains a bold

Ekaterina Kiseleva 12:23 2025-05-21 UTC+2

The Dollar Is No Longer King. What You Need to Know

Historically, the U.S. dollar has been the primary safe haven during crises such as wars, sanctions, and banking shocks; investors tend to flock to the dollar as their ultimate safety

Anna Zotova 00:59 2025-05-21 UTC+2

US Market News Digest for May 20

Despite the downgrade of the US credit rating and rising Treasury yields, retail investors remain active buyers of equities. Net purchases have surged to a record $4 billion, signaling confidence

Ekaterina Kiseleva 12:16 2025-05-20 UTC+2

Market Gains Modestly: Dow +0.32%, Nasdaq +0.02%, but Novavax Soars After Vaccine Approval

Dow Up 0.32%, S&P 500 Up 0.09%, Nasdaq Up 0.02% TXNM Energy Rises After Blackstone Deal Novavax Jumps After FDA Approval of Coronavirus Vaccine European Stocks Rise Slightly, as Utilities

Thomas Frank 11:18 2025-05-20 UTC+2

Bitcoin: What to Expect This Week. BTC Hits $107,000 – Can the Record Hold?

The leading cryptocurrency is fighting to maintain its position, even though it's not always smooth sailing. Currently, BTC is out in front, slightly simplifying the task of holding higher ground

Larisa Kolesnikova 00:40 2025-05-20 UTC+2

US consumption losing steam

In the upcoming week, Wall Street's attention will be focused on earnings reports from the largest US retail chains — crucial indicators of how changing trade conditions are impacting

13:30 2025-05-19 UTC+2

US Market News Digest for May 19

Despite encouraging statements about progress in trade negotiations and high-level diplomatic visits, forecasts for the S&P 500 remain restrained. Analysts point to the index's lack of growth compared

Ekaterina Kiseleva 12:20 2025-05-19 UTC+2

The American consumer is slowing down: What Target, Lowe's and Walmart are saying

Wall Street will be focused on earnings reports from the largest US retailers this week to gauge how changing trade conditions are affecting the economy and whether the recent stock

Thomas Frank 10:35 2025-05-19 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.