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Shiba Inu Continues To Crash: Will Promised 'Good News' Bring Good Fortunes For Shib Army?

Shiba Inu (CRYPTO: SHIB) traded 3.8% lower at $0.00004296 over 24 hours late Monday night.

What’s Moving? The self-described Dogecoin (CRYPTO: DOGE)-killer has fallen 8% over a seven-day period.

SHIB moved 2.9% and 3.08% lower against Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH), respectively, over 24 hours.

Over the last 30 days, SHIB has gained 9.5%.

SHIB touched an all-time high of $0.00008845 in late October. The token has lost over 50% of its value since then.

See Also: How To Buy Shiba Inu (SHIB)

Why Is It Moving? SHIB moved lower in tandem with DOGE as the global cryptocurrency market cap dropped 0.8% to $2.55 trillion over 24 hours.

SHIB’s mentions on Twitter exceeded those of DOGE. SHIB attracted 2,603 tweets, while DOGE was mentioned in 2,005 tweets, as per Cointrendz data.

SHIB was the fourth most mentioned coin on Twitter. The token lagged behind Bitcoin, Ethereum, and Velas, which attracted 10,876, 6,986, and 3,085 tweets respectively.

What’s Next: On Monday, “Shytoshi Kusama,” a self-described pseudonymous volunteer project lead of Shiba Inu, said he would have “good news” for the Shib Army this week; SHIB fans label themselves as the Shib Army online.

Shytoshi’s tweet was retweeted by the official Shib token Twitter handle with an “eyes” emoji. 

Shiba Inu issued a warning to its investors Monday related to a Telegram scam and warned its following on Twitter that it was not offering any promotions including airdrops, bonuses, giveaways, or gifts.

Meanwhile, DOGE co-creator Billy Markus complained to Twitter Inc (NASDAQ:TWTR) CEO Jack Dorsey about the “Shiba Inu” promoters who had flooded his comments section on Twitter with links to alleged Shiba Inu airdrops.

Read Next: Shiba Inu Slips To 3rd Spot In Coinbase Volume Rankings As ‘Retail Meme Coin Mania Cools Offs;’ These Are The 2 Cryptos Outdoing it

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