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Will There Be Another Billion SHIB Burn? Shiba Inu Bulls in Search of Catalyst

Written by: Nidhi Kolhapur

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Nidhi Kolhapur

Nidhi is a Certified Digital Marketing Executive and Passionate crypto Journalist covering the world of alternative currencies. She shares the latest and trending news on Cryptocurrency and Blockchain.

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Dec 14, 2021

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Shiba Inu has dropped 6.8% in the previous 24 hours. This drop exceeded the overall trend in the cryptocurrency market, which has been declining since yesterday. The self-proclaimed doge-killer is now more than 60% below its all-time high, thanks to yet another huge near-double-digit daily loss.

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Shiba Inu was on the verge of “killing another zero” in October, with prices hovering at $0.0001 per token. Shiba Inu, on the other hand, has fallen from a high of $0.00008845 to $0.00003322 at the time of writing.

With regard to meme tokens, increasing bearish sentiment appears to be emerging among both bulls and bears in the crypto sector right now. Investors are evaluating the downside possibility of even the most sought-after meme tokens, such as Shiba Inu, due to a series of recent big drops among meme tokens.

Several big corporations had begun to accept SHIB as payment for their goods and services. Flexa, which is backed by the crypto twins Winklevoss, Gamestop, Nordstrom, Bed Bath Beyond, Petco, Ulta Beauty, and other high-end retailers are among them. Newegg, an electronics retailer, and AMC, a movie theatre operator, had previously stated that they will begin taking the second-most popular meme cryptocurrency.

Two conditions for another SHIB burn

“Ask The Doctor,” a recognized Shiba Inu (SHIB) Twitter account, has revealed to its 55.7K followers two conditions that must be met in order for another billion SHIB coins to be destroyed. 549,180 people have signed a petition on change.org asking for Shiba Inu to be added to the popular trading software Robinhood.

The next goal is to collect one million signatures from Shiba Inu owners. This is the first ailment raised by the owner of the “Ask the Doctor” Twitter account (s). The second requirement is that the tweet be retweeted at least 25,000 times.

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Nidhi Kolhapur

Nidhi is a Certified Digital Marketing Executive and Passionate crypto Journalist covering the world of alternative currencies. She shares the latest and trending news on Cryptocurrency and Blockchain.

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