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21.08 / 19:55
Platform UPS Digital Meme coin Shiba Inu price rally spurred by Kraken listing starts to lose steam
The red-hot rally in meme-coin darling Shiba Inu is losing some of its steam. The token had posted a double-digit gain after crypto-exchange Kraken listed it for trading and e-retailer Newegg Commerce announced it will accept the digital asset as a form of payment. But on Wednesday, the token fell more than 4%, according to data from CoinGecko.com. Many were struck by the tepid move. Earlier in the year, announcements large and small tended to move prices almost straight up. But they're now getting affected by the Federal Reserve's announcement that it might start to pull back on its stimulus, according to Matt Maley, chief market strategist for Miller Tabak + Co.  
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