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.
Elon Musk affirmed that Tesla has not shed its Dogecoin holdings after news of $966 million worth of BTC sales by the car manufacturer. Tesla cited concerns regarding operating profits and profitability, which led to it liquidating 75% of its Bitcoin holdings. Elon Musk’s Tesla continues to HODL Dogecoin, alongside DOGE holders.
Shiba Inu announced a partnership with a world-class visualization studio to design and develop its highly-anticipated SHIB.io metaverse. The Third Floor is famous for its work on the tv shows and films in Marvel’s Cinematic Universe. Analysts have predicted a spike in Shiba Inu price with the ongoing developments and the recovery in the meme coin.
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