Why Shiba Inu Is Plummeting Today
Shiba Inu (CRYPTO: SHIB) is seeing big sell-offs in Tuesday's trading. The cryptocurrency's token price was down 8.2% over the last 24 hours -- a period that also saw Bitcoin's price fall 5% and Ethereum's price fall 7.4%.
Shiba Inu is losing ground amid a significant pullback for the broader cryptocurrency market. Today's sell-offs have been triggered by new data from the U.S. Bureau of Labor Statistics (BLS) that has raised concerns about inflationary pressures and the outlook for interest rates.
This morning, the BLS published job openings data for November. The report showed that there were 8.1 million job openings in the month, coming in ahead of the average analyst estimate's call for 7.7 million openings in the period. Analysts had anticipated that job openings would decline slightly from the 7.7 million openings recorded in October, but the tracking unexpectedly ticked upward.
Source Fool.com
