The cryptocurrency market is witnessing a significant downturn, with Shiba Inu SHIB/USD being notably impacted.

As per a report, the market has seen liquidations worth $298 million in cryptocurrencies, with Shiba Inu’s value declining by 5.81%.

The downturn for Shiba Inu commenced at the start of the week, with a promising price surge abruptly halted on May 12 due to a slump in the wider cryptocurrency market. Since May 11, SHIB has recorded losses on five out of six days as investors cashed in during rallies.

Data from IntoTheBlock reveals that a staggering 25.74 trillion SHIB are presently held by 34,170 addresses within the narrow price bracket of $0.000014 and $0.000015,…

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