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Shiba Inu (SHIB) has experienced incredible success in its four-year history. The project has garnered a loyal fanbase which seems to be growing every year. SHIB’s popularity skyrocketed during the 2021 bull run when its price rallied by many million percent. Since its 2021 peak, SHIB’s price has somewhat struggled to gain momentum, falling victim to the general bearishness over the last two years. Also Read: Ripple Year End Price Prediction: Is XRP Claiming A New High Soon? Shiba Inu’s Current Price Movements The cryptocurrency market has faced a significant correction over the last week. SHIB’s price follows the bearish trend. The asset is down 3.9% in the daily charts 7.7% in the weekly charts, 24.4% in the 14-day charts, and 11.8% over the previous month. Despite the dip, SHIB has maintained its gains over the last year. The dog-themed cryptocurrency is up 108.5% since December 2023. Source: CoinGecko Also Read: Top 3 Cryptocurrencies That Could Rally This We...

Chances of a crypto bull market in 2023 decrease as the Fed maintains a hawkish stance and threats of a recession in the U.S. economy continue to appear. Undoubtedly, 2022 was one of the worst years for Bitcoin (BTC) buyers, primarily because the asset’s price dropped by 65%. While there were some explicit reasons for the drop, such as the LUNA-UST crash in May and the FTX implosion in November, the most important reason was the U.S. Federal Reserve policy of tapering and raising interest rates. Bitcoin’s price had dropped 50% from its peak to lows of $33,100 before the LUNA-UST crash, thanks to the Fed rate hikes. The first significant drop in Bitcoin’s price was due to growing market uncertainty around potential rate hike rumors in November 2021. By January 2022, the stock market had already started showing cracks due to the increasing pressure of imminent tapering, which also negatively impacted crypto prices. BTC/USD daily price chart. Source: TradingView Fast forward year, and th...