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Shiba Inu Price Falls As Crypto Market Remain Bearish

Jim Haastrup
By Jim Haastrup
1 Min Read
Voice of Crypto Shiba Inu,

The Shiba Inu price analysis for August 3rd, 2022, is coming in on a bearish note as meme coin prices have dropped by more than 2.7% over the last 24 hours and additional drops are also expected soon. What’s more?

SHIB has maintained the price action above the $0.000011 price mark – that is quite interesting.  However, the nearest support for the token stands at $0.000010, an area of major support that has been holding for a very long time.

Shiba Inu token has been struggling to break through major resistance at the $0.000012 price level, but so far it hasn’t worked on numerous occasions.

VOC, Voice of Crypto, Shiba-Inu-Price

The data from CoinMarketCap shows that the trading volume for SHIB has dropped by 34.75% in just 24 hours, while their market cap declined by 2.71%. Moreover, the Volume / Market Cap Ratio stands at a value of 0.06275, while the Market Dominance of the token rests at 0.61%. 

The Shiba Inu’s candle opened at $0.00001174 and reached its high for the day at $0.00001180 and a low of $0.00001160. SHIB is currently trading at $0.00001197.

 

 

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Jim-Haastrup
ByJim Haastrup
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Jim Haastrup is a blockchain and technical writer at Voice of Crypto, where he covers cryptocurrency, NFTs, DeFi, GameFi, and the Metaverse. Before joining Voice of Crypto in 2022, he spent over three years as a senior technical writer across multiple blockchain projects, including Hashtoken, Naxar, and Bino, where he specialized in whitepapers, technical documentation, and content strategy for decentralized finance applications. Jim began his career as a junior technical writer at RM in Canada before advancing to lead technical writing roles at Bulltoken, a cryptocurrency crowdfunding platform in Norway. Throughout his career, he has authored more than 800 articles and collaborated with development teams to translate complex blockchain protocols into accessible content for diverse audiences including developers, investors, and crypto enthusiasts. His work spans ICO/STO/IDO research and analysis, cryptocurrency market trend forecasting, and social media management for crypto brands. Jim has helped numerous startups build their online presence through strategic content marketing, technical whitepapers, and pitch deck development. Jim graduated from the Federal University of Agriculture, Abeokuta (FUNAAB), Nigeria with a Bachelor of Engineering in Electrical Engineering in 2021. Disclosure: No significant crypto holdings.

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