For the past few weeks, $SHIB and $DOGE have been increasing their gains by double as the altcoin season kicks off.

It is important to note that about 1.36 trillion $SHIB were recently added to the centralized exchanges, which implies that there has been huge selling pressure for the token worldwide.

According to the FXStreet analysts, they predict that the $SHIB coin is going to have a downswing then it will eventually surge back to $0.00012.

Shiba Inu’s Downswing

The price of Shiba Inu (SHIB) has decreased in recent days. It has fallen more than 50% since its all-time high this morning, before rebounding slightly to where it is currently trading.

According to some analysts, the price of Shiba Inu (SHIB), which hit an all-time high just a few days ago, has fallen nearly 50% since then.

The market’s euphoria has turned to disbelief, and the tides appear to be turning.

Because one of the largest SHIB holders has begun moving coins, this could explain why.

In August of 2020, aninvestor bought $8,000 worth of SHIB, and their holdings were worth nearly $6 billion at one point during the peak of $SHIB’s pricing.

However, just a few days ago, an address known to be one of the largest SHIB holders began transferring their coins.

However, there is a general sense of trepidation that the entity will begin to liquidate its cryptocurrency holdings, which has taken a toll on the market.

Hope for $SHIB to Surge Back

The fact that FXStreet analysts see the possibility of the coin surging back to the $0.00012 is a good indicator that there could still be hope for the coin in the long-term.

If you are currently holding $SHIB, it is always good to DYOR. A small market move from the whales can totally change the trajectory of the coin.

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