Shiba Inu’s daily trading volume is falling rapidly, making things worse for investors. Shiv is one of the least performant cryptocurrencies on the market this year, and it won’t cause prices to skyrocket on the charts. Its value is ruthlessly immersed and traders become hazes as investments are not rising as planned. They took an entry position when the market cried out “on the moon,” but their portfolio hit Earth.
Coingecko’s latest SHIB data shows Shiba Inu’s daily trading volume fell 36% the day before. Trading activity reached $134.6 million, a relatively low compared to the previous month. This shows bearish feelings as traders are mostly away from Shiv and fear further losses. New entry positions from traders are exhausted and Shiv is relying solely on previous buyers.
Why is Shiba Inu’s daily trading volume declining?
The daily trading volume of Sibainu has declined as tokens perform poorly amid the changing bear market. Shib has a history of extending its bearish period for months and years, making investors drier. This year, the bearish phase has seen fewer buyers and more sellers. On the other hand, there are no buyers. Additionally, funds are placed in other digital assets.
Shiba Inu’s daily trading volume may decrease if new buyers are not folded. All cryptocurrencies rely on new buyers to drive index prices and reach new highs. Without their support, Shiv’s outlook is at risk and losses can pile up.
Dog-themed tokens experienced an influx of buyers after launching large gatherings in 2021 and 2022. These investors are currently suffering losses and are struggling to break. Investors aren’t even buying dips on Shiba Inu, and daily trading volumes are declining.
