Shiba Inu's Rollercoaster Ride: From Downturn to Market Cap Surge
Originally Published 2 years ago — by Benzinga
Shiba Inu (SHIB) experienced a 12% decline in the last 24 hours, underperforming Dogecoin and Pepe Coin. This drop followed the launch of the Shibarium Ethereum layer 2 solution, which encountered technical difficulties with its bridge, hindering users' access to transferred tokens. Bitcoin also saw a significant plunge due to rising global government bond yields and news of China's Evergrande Group filing for bankruptcy protection. SHIB is currently trading at $0.000008368.