Shiba Inu
Why Shiba Inu is down 4.2% today
Analysis
Shiba Inu (SHIB) fell 4.2% over the past 24 hours as risk sentiment around the token was pressured by a viral “airdrop” being flagged as a wallet-draining scam, which can deter participation and trigger cautious selling (U.Today). At the same time, while one report noted large SHIB outflows and suggested selling pressure may be fading, the market still moved lower in the near term, indicating the scam alert likely weighed more heavily on sentiment over this window (U.Today).
Contributing Factors (2)
65 Billion SHIB in 24 Hours: Shiba Inu Selling Pressure Is Fading
Shiba Inu's ongoing price volatility has seen exchange activity turn extremely bearish, but its recent netflow suggests that the sell-off pressure may be easing.
Fake Shiba Inu (SHIB) Alert: Viral Airdrop Exposed as 'Wallet Drainer' by Veteran
Shiba Inu community veteran warns of fake SHIB alert draining crypto wallets.
Move Details
Explanation Confidence
High confidence in the explanation based on source reliability and timing.