Why SHIB Lost Its Energy after Shiba Eternity Games’ Release

SHIB, along with the vast majority of the crypto space, has been staring at price drops in the past 24 hours with the asset dropping 7.7%.

  • Shiba Inu saw five times growth at the end of October after the release of Shiba Eternity
  • SHIB is down 8.8% over the past seven days
  • Shiba Inu headed for another bearish momentum

the 13The tenth The largest cryptocurrency with a total market capitalization of $5.9 billion is currently trading at $0.00001019 according to tracking from Koenigku.

The dog-themed altcoin similar to Dogecoin has now lost 8.8% of its price over the past seven days and is far from what was expected after the release of Shiba Eternity.

After the development, Shiba Inu was expected to see a bullish run and immediately grow 3 times in terms of trading price.

Not only that, but the value of the asset was also expected to increase due to its five-fold change. But the recent drop has some crypto enthusiasts wondering why the price of SHIB lost steam after the release of Shiba Eternity games.

Shiba Immortality – How does it affect the price of Shebaa

SHIB failed to capitalize on the release of a long-awaited game in crypto this year to help it out of its downward and sluggish momentum.

But one must keep in mind that “Eternal” is a newly introduced one that may not yet have the potential to put much demand on the SHIB community.

It will take some time for you to get a high demand and token burns – two factors that can help Shiba Inu finally achieve an upward trajectory.

As much hype it made, the excitement faded once the game became available. The symbol’s performance once again aroused skepticism among those who were hoping for an upward trend.

Right now, as the cryptocurrency drops again, SHIB investors should look for these signs before Shiba Inu’s next big move.

Chip: In feelings and price

At the time of writing, data from Santiment revealed that the weighted sentiment for SHIB is in negative territory once again, just as its price is back down.

The 90-day average life of the coin is also in a steady decline, moving towards the bottom of the four-week range. This movement indicates another downtrend for fellow Dogecoin cryptocurrency.

Investors who have bought into SHIB over the past three months are selling their holdings, adding to selling pressure that has shifted whatever upward volume the asset is based on.

Source: Santiment

In addition, huge accounts with trillions of coins are also sold and unloaded.

With this said, SHIB investors should anticipate an upward movement for the crypto asset once selling pressure drops significantly.

Also, they can also wait for Shiba Eternity to mature a bit and have the ability to order a big token in hopes that this will push SHIB price to new heights again.

SHIB market cap at $5.7 billion | Featured image from BSC News, Chart: TradingView.com

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