Shiba Inu Sees Double-Digit Losses as Bitcoin Drops Below $38,000

The meme coin is not alone. The ongoing cryptocurrency market sell-off is not showing any signs of abating. Bitcoin , the largest cryptocurrency, slipped below the key $38,000 support level for the first time since Feb. 5.XRP, however, has managed to remain in the green amid positive developments in the Ripple lawsuit.On Jan. 22, Bitcoin dropped below $33,000 for the first time since last July as speculation regarding the US Federal Reserve’s future interest rate hikes took the central stage.

Banking giant JPMorgan expects the Fed to hike rates during nine consecutive meetings. The central bank is expected to drop its hawkish stance only in 2023 as high inflation continues to persist. The Crypto Fear & Greed Index, which is updated daily by the website Alternative.me, reentered “extreme fear” territory on Saturday, plunging to 25 points.

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SHIB Holder Count Reaches New All-Time High: DetailsNumber of wallets holding Shiba Inu meme crypto has soared to reach a new milestone, while largest Ethereum whales continue to accumulate SHIB WhaleStats kingmonex WhaleStats Join us! lets burn shib together! n got 2% reward ✨, and win giveaway for shill competition!🔥 shibaburnerc20 SHIBABURN WhaleStats SHIBABURN 🔥🔥This is a token that burns shib whenever it's bought and sold. 500 holders over 200 million shiba inu burnt in a month. 5000 holders = 2 billion, 50k holders = 20 billion, 500k = 200 billion, 1 million = 400 billion. Per month. This'll decimate the supply 🔥🔥
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Market Watch: Bitcoin Plummets to a 2-Week Low at $38KBitcoin continues to lose value gradually by dumping to just over $38,000. Most altcoins bleed out even more.
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