Shiba Inu Hits The Jackpot! The Crypto Meme Soars After The Rate Cut

The recent adjustment of interest rates by the FED has had a significant impact on the crypto market, and Shiba Inu (SHIB) seems to be one of the biggest beneficiaries of this decision. On September 19, 2024, the Fed announced a 50 basis point cut, the first in four years, prompting a positive reaction in the altcoin market.

The rate cut propels Shiba Inu!

After the rate cut by the FED, the meme crypto Shiba Inu saw its price rise by more than 6% in 24 hours, reaching $0.000014. This increase is notable, especially for a token that had struggled to maintain support above $0.000013 the previous week. This price increase is accompanied by a rise in trading volume, which climbed more than 60% to $216,950,085 in one day. This increased volume reflects trader optimism, suggesting that the price of SHIB could continue to rise.

Network indicators, such as daily active addresses, also showed a significant improvement. This increased activity on the Shiba Inu blockchain indicates renewed interest and confidence from crypto users and investors. Furthermore, significant transactions, often conducted by whales, have also increased, highlighting a silent drive for token recovery.

How far will this crypto go?

The interest rate cut has implications beyond the rise in the price of SHIB. While the burn rate is currently low, previous burns have rekindled hopes of reducing the massive supply of tokens. Crypto experts estimate that if the bullish trend continues, SHIB’s price could reach $0.000015 next week, further strengthening the Shiba Inu ecosystem.

The FED’s interest rate cut has not only stimulated the crypto market but has also placed Shiba Inu in a favorable position for continued growth. With positive network indicators and rising trading volume, SHIB could be on the verge of entering a new phase of significant growth.