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Today we are going to know about the latest updates on the Shiba Inu coin.

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Crypto tokens continued their downward spiral movement on Thursday as rate hike fears haunted investors. That said, Bitcoin managed to hold $20,000 levels.

The latest red-hot inflation numbers have put global investors on edge about the potential actions by the US Fed in its meeting next week. The FOMC is likely to push interest rates by 75 basis points, while a 100-bps hike can not be ruled out.

Barring the US dollar-pegged Tether, all other major crypto tokens were trading lower on Thursday. Shiba Inu and Avalanche dropped 3 percent each, whereas Bitcoin, Polkadot, and Polygon shed 2 percent each.

The global cryptocurrency market cap was trading lower at $990.19 billion, dropping almost a percent in the last 24 hours. However, total trading volume tumbled as much as 23 percent, close to $78.30 billion.

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