Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.

• SHIB retested 2021 lows.
• Short-term selling pressure eased.

Memecoins’ allure dimmed amidst heavy macro headwinds in Q2. Like PEPE, which has been hitting new all-time lows, Shiba Inu [SHIB] retested 2021 lows. Investors sought refuge in stablecoins, Bitcoin [BTC] and Ethereum [ETH], after the Binance lawsuit – exposing meme coins to more selling pressure in the past few days.  

How much are 1,10,100 SHIBs worth today? 

However, Fed watchers are upbeat about a likely dovish stance and a pause on rate hikes from Fed. If that’s the case, the negative sentiment could abate, allowing Shiba Inu to reverse recent losses. But a hawkish stance could devalue the meme-coin further. 

SHIB hit the 2021 low

Over the past weekend (10/11 June), BTC retested the $25k zone, exposing altcoins and meme-coins to another round of price dumps. SHIB dropped to $0.00000543, dropping below 2021 lows of $0.00000510. 

Although the RSI was deep in the oversold zone at the time of writing, the CMF climbed above the zero mark. It suggests that SHIB saw sig

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Author: Suzuki Shillsalot

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