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Why Shiba Inu Crypto Is Climbing Today

TheMotleyFool

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The cryptocurrency market is seeing recent losses extend into another day of trading, but Shiba Inu (CRYPTO: SHIB) is gaining ground. The popular meme token's price was up roughly 1% over the previous 24-hour period as of 6 p.m. ET Thursday.

Investors have generally been moving out of speculative, high-risk investments amid mounting valuation concerns and macroeconomic risks, but there's recently been some movement back into select cryptocurrencies. Despite recent confirmation that the Federal Reserve is looking to significantly increase interest rates this year, Shiba Inu's token is moving higher after recent pullbacks.

Image source: Getty Images.

Source Fool.com

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