Bitcoin price slipped below $23,000 as the European Central Bank announced its first rate hike in eleven years. Rising inflation was the bank’s primary cause of concern, the move increased pressure on Bitcoin price. Analysts have predicted a steep decline in Bitcoin price, if the asset fails to make a comeback above 200-week moving average.
South Korean prosecutors raided 15 entities linked to the collapse of Terraform Lab’s sister tokens, LUNA-UST. Their investigation and the raid on top Korean crypto exchanges was followed by a crash in LUNA price.
Since its announcement, Shiba Inu owners have awaited the launch of SHIB.io, the Metaverse Project. Typically, new developments and launches in the Shiba Inu ecosystem positively impact the meme coin’s demand across exchanges and boost its price in the short term.