Shiba Inu held up in green, trading higher by 1.42% in the last 24 hours to $0.000009152, even as the broader crypto market endured a negative week capped by a fresh sell-off on Friday.
The crypto market faced renewed selling pressure on Friday amid a stronger U.S. dollar and a hawkish tone from the Federal Reserve. Comments from Fed officials earlier in the week suggested a potential cooling of the rate-cutting cycle, which caused the dollar to rise and risk assets to slump.
Bitcoin and Ethereum dropped 3.07% and 4.44%, respectively, in the past 24 hours. Most altcoins, except for AI- and privacy-focused tokens, underperformed Bitcoin. The “altcoin season” index fell to 21/100, marking its lowest level in over 90 days.
After hitting a low of $0.00000837 on November 4, Shiba Inu has slightly rebounded and traded within a range between $0.00000842 and $0.00000923. Bulls made an effort to extend the recovery during Friday’s session, pushing the SHIB price as high as $0.00000946 before a minor retracement. Currently, Shiba Inu is positioned to await its next move in the market.
### Insight from the Shiba Inu Team
Amid the decline of Bitcoin and other major cryptocurrencies, a handful of altcoins such as Zcash, Internet Computer, Near, Ethereum Classic, Tezos, and Filecoin unexpectedly posted double-digit gains. Some of these coins have long been seen as forgotten or nearly dead, making their rise particularly surprising.
This unexpected market behavior aligns with the viewpoint shared by Lucie, a member of the Shiba Inu team. In a recent tweet, Lucie observed:
*”The biggest returns in past bull runs always came from the most dead and unexpected tokens.”*
She further emphasized the unpredictability of the crypto market by adding,
*”You can easily dump the biggest star just before it takes off, or buy the one that will never make it.”*
Shiba Inu’s price history reflects this uncertainty. After trading lower for several months, SHIB experienced sudden, sharp price spikes in October 2021 and again in February 2024. However, the exact timing and magnitude of Shiba Inu’s next price comeback in this cycle remain unknown.
As the market continues to evolve, investors will be watching closely to see what lies ahead for Shiba Inu.
https://u.today/shiba-inus-next-move-shib-team-breaks-silence-with-crucial-market-take
