Shiba Inu (SHIB) has dropped significantly, following Bitcoin's fall to around $62,000, with recent declines exceeding 9% in 24 hours and nearly 35% in a month. Analysts warn that if Bitcoin dips further toward $38,000 as expected by Stifel, SHIB may also experience additional downward pressure due to its high-risk memecoin status. Although a slight market rebound is noted, uncertainty persists over whether SHIB has hit its bottom or will continue to fall amid tightening Federal Reserve policies and a risk-averse investment environment.

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