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Why Shiba Inu Is Sinking Today

TheMotleyFool

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Why Shiba Inu Is Sinking Today: https://g.foolcdn.com/editorial/images/846804/copy-of-red-decline-stocks-down-bear-copy.jpg

Shiba Inu (CRYPTO: SHIB) has been heading lower in today's trading. As of 11 p.m. ET Thursday, the cryptocurrency's token price had fallen 4.1% from where it stood at 4 p.m. ET Wednesday.

Shiba Inu was on the rise Wednesday after the Federal Reserve announced that it was lowering the benchmark interest rate by another quarter-percentage point, but its token price got hit with pullbacks after a major artificial intelligence (AI) company published its latest quarterly results. As of this writing, Shiba Inu is now down 60% across this year's trading.

Image source: Getty Images.

Source Fool.com

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