Shiba Inu has taken a significant step forward by partnering with Chainlink to enhance cross-chain functionality and data integration across its ecosystem, according to a Dec. 19 statement. This collaboration introduces cutting-edge interoperability features and positions the Shiba Inu network for broader adoption. Unlocking cross-chain potential The collaboration integrates Chainlink’s Cross-Chain Token (CCT) standard into […]
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Shiba Inu has entered into a strategic partnership with Chainlink, according to a press release published in SHIB Magazine. This alliance will see Shibarium, Shiba Inu’s layer-2 (L2) blockchain network, integrating Chainlink’s Cross-Chain Interoperability Protocol (CCIP) as its canonical infrastructure for cross-chain communication, alongside the adoption of the Cross-Chain Token (CCT) standard for its native […]
A significant Shiba Inu (SHIB) transfer has caught the attention of traders today, December 19, as an early and highly profitable SHIB whale moved nearly 400 billion tokens. On-chain analysis service Spot On Chain (@spotonchain) highlighted that this well-known early buyer deposited 399.99B SHIB (worth $9.69 million) to Gemini, building on a history of substantial gains after initially acquiring 15.2 trillion SHIB in August 2020 for a mere 10 ETH. Spot On Chain wrote via X: “This early $SHIB whale with a $108M profit just further deposited 399.99B $SHIB ($9.69M) to Gemini in the past hour. Notably, on Aug 7, 2020, this whale bought 15.2T SHIB for just 10 ETH. Now, the whale still holds 2T SHIB ($48.54M) with an estimated total profit of $107.7M (3.7x return) from SHIB.” This is not the first time such profit-taking has occurred by the anonymous whale. In mid-November, Spot On Chain noted that the same early buyer (address “0xd6b”) was “back to offload tokens after 8 months of inactivity,” depositing 100 billion SHIB (worth $2.81 million at the time) to Gemini. Prior to that, the whale was last active in March, transferring 200 billion SHIB to both Gemini and Crypto.com. Related Reading: Shiba Inu Price Ready For 130% Surge With Bullish Patterns Marked By Higher Highs Shiba Inu Price Drops Within the last 24 hours, SHIB’s price has declined roughly 6.2%, extending a short-term downward move that saw a 10% drop on December 18. Notably, much of this weakness aligns with the broader crypto market downturn following the recent Federal Open Market Committee (FOMC) press conference. Although the expected 25 bps rate hike was delivered, Fed Chair Jerome Powell’s emphasis on a more restrained approach to interest rate cuts in 2024 resulted in a bearish market response across digital assets. Despite these macro headwinds and the high-profile whale sell-off, Shiba Inu’s higher time-frame technical structure remains relatively stable. In the daily chart, SHIB held key support which is the 100-day EMA which has proven to be a formidable support level for SHIB since the price first ascended above it in late September. Related Reading: Shiba Inu Bulls Aim Higher As SHIB Sights $0.00002960 For A Fresh Rally Marked by the yellow circles on the chart, this EMA has repeatedly served as a crucial pivot point for price action, sustaining support for the fifth time during the observed period. Currently, the 100-day EMA sits at approximately $0.00002264 Additionally, SHIB remains above the 0.382 Fibonacci retracement level at $0.00002409, another critical threshold currently being watched by analysts. The 0.5 Fibonacci level at $0.00002821 marks a pivotal midpoint from the recent high-to-low range, serving as a psychological test for traders should SHIB attempt a recovery. Beyond that, further upside resistance levels await at the 0.618 Fib ($0.00003234) and 0.786 Fib ($0.00003821), potential barriers if bullish momentum returns. Featured image from Shutterstock, chart from TradingView.com
Derivatives trading products saw rapid growth, suggesting that professional traders were actively seeking exposure to cryptocurrencies.
Dogecoin and Shiba Inu prices have significantly crashed in the last 24 hours. This is partly due to Jerome Powell’s speech, which painted a bearish picture for crypto assets despite the announcement of a 25 basis point (bps) rate cut. Why The Dogecoin And Shiba Inu Prices Crashed The Dogecoin and Shiba Inu prices are […]
Shiba Inu (SHIB) has seen intense bearish pressure as its price slips below the critical $0.00002631 level. This downward move reflects growing market challenges, with SHIB struggling to maintain its position above the 100-day Simple Moving Average (SMA). The break below this key threshold highlights the dominance of sellers, raising questions about the token’s ability to recover in the short term. As negative momentum builds, SHIB’s price action is at a pivotal point. Will bulls muster the strength to reclaim lost ground, or is the meme coin headed for deeper declines? The coming days will be crucial in determining the next phase of Shiba Inu’s journey. Technical Indicators Signal Continued Bearish Pressure For Shiba Inu Currently, the price of Shiba Inu is trading below the 100-day SMA, a key technical indicator that often signals the broader trend in the market. Trading below this crucial level suggests that bearish momentum is outweighing bullish efforts, creating a challenging environment for SHIB. Related Reading: Shiba Inu Price Rebounds Toward $0.00003, Taking 69% Of All Holders Back Into The Green The 100-day SMA typically acts as a dynamic support level in uptrends, helping to sustain upside strength. However, its current position below $0.00002631 indicates that the token has struggled to regain its upward trajectory. Furthermore, this development raises concerns about SHIB’s ability to mount a recovery, as prolonged trading below this threshold could invite further selling pressure and deepen the pessimistic outlook. For SHIB to reclaim positive momentum, a decisive move back above the 100-day SMA is essential, triggering renewed strength and potential for recovery. Additionally, the Relative Strength Index (RSI) indicator has experienced a significant drop, currently sitting at 35%. This sharp decline reflects a substantial loss of bullish strength, with selling pressure dominating the market. At 35%, the indicator suggests that Shiba Inu is approaching oversold territory, highlighting the intensity of the recent downward move. Such a low RSI level could signal that the token is under heavy selling pressure and might be due for a short-term rebound if buyers begin to step in. However, the persistent bearish momentum could drive SHIB’s price downward without a clear shift in market sentiment or buying activity. Monitoring the RSI in conjunction with other technical indicators will be crucial for identifying potential reversal points or continued downside risks. Key Support Levels Below $0.00002631: How Low Can SHIB Go? As Shiba Inu slips below the critical $0.00002631 level, attention shifts to the next key support zone that could determine its price trajectory. The immediate support lies near $0.00002045, a level previously shown resilience during bearish phases. If this fails to hold, SHIB could face more declines toward $0.00001272 or even lower, testing the strength of market sentiment. Related Reading: Shiba Inu Burn Rate Crashes 82% Despite Recovery, Can SHIB Price Still Make It To $0.00008 ATH? However, if the bulls can gather enough strength at any of these support levels, it could trigger a recovery, pushing the price upward toward previous resistance zones. A rebound from these points would signal renewed buying interest and pave the way for Shiba Inu to regain lost ground, potentially reversing the bearish trend and reestablishing upward momentum. Featured image from iStock, chart from Tradingview.com
The Shiba Inu price is flashing bullish signals that could pave the way for an impressive 130% rally to new levels. A crypto analyst has highlighted a pattern of higher highs, solidifying his optimistic price projection of an imminent price surge for SHIB. Shiba Inu Price Gears Up For 130% Rally Klejdi Cuni, a TradingView crypto analyst, has released a detailed chart analysis displaying a bullish set-up for the Shiba Inu price. The chart highlights an ascending oval trend, with Shiba Inu consistently making higher highs on the daily. Related Reading: Bitcoin Daily Bollinger Bands Expand, Why BTC Price Could Rise To $120,000 As Early As Next Week The analyst disclosed that Shiba Inu has repeatedly faced strong support around the $0.00002424 level for about a month. This retest of the support level signals an Accumulation zone, where buyers consistently step in to avoid further price decline. Sharing a price chart, the analyst has set several upward targets as Shiba Inu continues its bullish trajectory. The sharp upward curve in the chart also indicates that the SHIB price could enter a strong parabolic move upwards after breaking key resistance levels. Cuni projects a steady but substantial price increase for Shiba Inu, projecting that the meme coin could surge 130% to reach an initial target of $0.00003232 in the near-term resistance. The analyst has also predicted that Shiba Inu could hit a second target at $0.00004167. If Shiba Inu can maintain its bullish momentum and stay above $0.000041, Cuni believes a significant breakout level to the third target at $0.00005675. Finally, representing the highest target on the price chart, the TradingView analyst forecasts a massive surge to $0.00007012. Although reaching these bullish price targets would mark a significant milestone for the Shiba Inu price, it would still fall well below the meme coin’s all-time high of $0.000086. This all-time high was achieved during the bull run in 2021 when the demand and price of meme coins surged dramatically. Related Reading: XRP Price Breakout Above $10: Analyst Tells Community To Pay Attention To This Fractal Cuni explained that Shiba Inu had already achieved his first projected target. However, despite being a meme coin, Shiba Inu has not displayed a price action similar to that of other meme coins in the market. Analyst Says SHIB ATH Incoming The Shiba Inu price is currently trading at $0.000028 after experiencing an 8% decline over the past week, according to CoinMarketCap. The meme coin had been one of the top gainers of this bull market, having surged above $0.00003 recently. With its current price action signaling a potential reversal, a prominent crypto analyst, identified as ‘The CryptoBull,’ has predicted that Shiba Inu could reach new all-time highs this bull cycle. Related Reading: XRP Price Breakout Above $10: Analyst Tells Community To Pay Attention To This Fractal The analyst shared a chart in an X (formerly Twitter) post displaying Shiba Inu’s price movements from May 2022 to the present. The analyst suggests that if Shiba Inu crosses $0.00003285, the meme coin could see an explosive surge to $0.00008852, making a new ATH. Featured image created with Dall.E, chart from Tradingview.com
The Shiba Inu price has rebounded towards $0.00003, which has put most of the SHIB holders back in the green. This is significant, considering how it could set Shiba Inu on a path to higher prices. Most SHIB Holders In The Green As Shiba Inu Price Rebounds IntoTheBlock data shows that most SHIB holders are in the green as the Shiba Inu price rebounds towards $0.00003. 69% of these SHIB holders are now in the money, while 24% are out of the money, and 6% are currently in the money. This could be bullish for the Shiba Inu price, considering that holders are less likely to sell when they are in the money. Related Reading: XRP Price Prediction: Last Phase Of ABC Wave Points To A Bounce To New ATH At $5.85 This could reduce the selling pressure on SHIB and sustain the Shiba Inu price recovery. The meme coin has recovered towards $0.00003. The ‘In the Money’ metric shows that the next significant resistance level that Shiba Inu needs to break above is $0.000033. 130,620 wallet addresses bought 15.06 trillion SHIB tokens around this level. However, on-chain metrics still paint a bearish picture for Shiba Inu, which is undoubtedly concerning. IntoTheBlock data shows that the ‘Concentration’ metric is in the red, indicating that SHIB whales currently have a bearish sentiment towards the meme coin and are opting against accumulating more coins. This large transaction metric is also bearish at the moment as Shiba Inu whales are opting against accumulating more coins. The net network growth also paints a bearish picture for the Shiba Inu price, as there is currently a low influx of new addresses buying the meme coin. The Shiba Inu burn rate has also remained inconsistent, further presenting a bearish outlook for the Shiba Inu price. Shibburn data shows that the burn rate is down over 79% in the last 24 hours, with three million coins burned during this period. From A Technical Analysis Perspective Crypto analyst Javon Marks has provided a bullish outlook for Shiba Inu from a technical analysis perspective. In an X post, he stated that Shiba Inu recently confirmed another bullish pattern, which could lead to a continuation of its upward trend. The analyst added that another major upside move could be in play for SHIB, with the meme coin possibly rallying to $0.00081 or even higher. Related Reading: Weekly Bull Flag Appears On XRP Price Chart, Why A Double-Digit Is Still Feasible The crypto analyst further mentioned that with this target at $0.000081, the Shiba Inu price could witness a 180% climb and that this rally may already be in play. A rally to $0.000081 could pave the way for Shiba Inu to surpass its current all-time high (ATH) of $0.000088. At the time of writing, the Shiba Inu price is trading at around $0.000029, up over 8% in the last 24 hours, according to data from CoinMarketCap. Featured image created with Dall.E, chart from Tradingview.com
Shiba Inu (SHIB) is once again capturing attention as it approaches a pivotal price level, with the $0.00002960 resistance emerging as a defining hurdle for the bulls. After a period of steady gains, market participants are now focused on whether SHIB can muster enough strength to break past this critical threshold. A successful move above this level could ignite a fresh wave of bullish momentum, setting the stage for a potential rally. Will the bulls rise to the occasion, or will SHIB face renewed pressure? Analyzing SHIB’s Price Action: Is A Bullish Surge Imminent? SHIB’s price action is demonstrating a strengthening positive sentiment as it nears the critical $0.00002960 resistance level. The recent consolidation around this key price point suggests that a breakout could be imminent. Additionally, the fact that SHIB is trading above the 100-day Simple Moving Average (SMA) signals increasing confidence from buyers, further heightening expectations for a potential upward surge. Furthermore, the 4-hour Relative Strength Index (RSI) indicates that Shiba Inu may be primed for continued uptrend. The RSI has recently surged past the 50% threshold and is currently positioned at 53%, signaling an increase in bullish momentum. Specifically, this shift implies that buying pressure is gaining traction, and the market sentiment is turning more optimistic. An RSI above 50% typically signals that buyers are in control, which could further propel SHIB toward higher resistance levels. Related Reading: Shiba Inu Braces For Rally – Analyst Sees 35% Price Surge – Details If the RSI maintains its upward trajectory, it will likely support the continuation of the current rally, possibly leading to a breakout. However, sustaining this momentum will be essential to confirm a successful breakout. Meanwhile, should Shiba Inu fail to break above the $0.00002960 resistance level with strong volume, it may face a pullback or a period of prolonged consolidation. This could cause the price to retest lower support areas as market sentiment shifts. A lack of follow-through above this level may discourage buyers, leading to a temporary stall in the uptrend. What Happens If Shiba Inu Breaks Above $0.00002960 Once SHIB surpasses the critical $0.00002960 resistance level, it could trigger a significant bullish rally. A successful breakout will attract more buying interest, signaling that the bulls are in control and pushing the price toward the next resistance level at $0.00003346 and other higher price targets. Related Reading: Shiba Inu All Set For ‘Bull Show’, Eyes 180% Rally – Analyst Additionally, a breakout above this level would reinforce positive market sentiment and could lead to a surge in trading volume, fueling the continuation of the upward momentum. However, sustained buying pressure will be essential for the price to stay above this key level and avoid a pullback. Featured image from Unsplash, chart from Tradingview.com
Shiba Inu (SHIB), the second-largest memecoin by market cap following Dogecoin (DOGE), is now experiencing a notable surge in its price after breaking through key levels in the past week. Currently trading at $0.00002877, SHIB has risen 14% over the past day, signaling renewed investor interest. However, the memecoin remains down by 4.3% over the past week and is still 66.6% below its all-time high of $0.00008616, recorded in 2021. Despite these mixed performances, analysts suggest a potential bullish trajectory for SHIB. Related Reading: Shiba Inu Braces For Rally – Analyst Sees 35% Price Surge – Details Shiba Inu’s Next Big Move Renowned crypto analyst Javon Marks has provided a positive outlook on SHIB’s price action in a recent post on X. Marks highlighted a recurring bullish pattern, indicating the possibility of a significant upward move. “Shiba Inu has confirmed yet another bullish pattern,” he wrote, emphasizing that similar patterns in the past have led to upward continuations. According to Marks, SHIB’s recent breakout could drive the price towards $0.000081, representing a potential 180% increase from its current value. Marks elaborated that this target is achievable and may already be in progress, given the asset’s recent movements. Such a rally, he noted, could position SHIB as a standout performer in the altcoin market, drawing attention from retail and institutional investors alike. $SHIB (Shiba Inu) has confirmed recently, yet another Bullish Pattern and all of its recent has led into continuations, so we can be in for yet another major upside move, but with breakouts holding and one implying $0.000081 to be in play, it can be greater than many think! With… https://t.co/yiK6w67Cly pic.twitter.com/9wdsLpZdSi — JAVON⚡️MARKS (@JavonTM1) December 11, 2024 Broader Altcoin Market Outlook While Marks penned his piece on SHIB, another prominent analyst known as Captain Faibik offered insights into the current state of altcoins. In a post that featured the chart image of BTC dominance forming an ascending trendline that seems poised for a 48% correction, Faibik suggested a positive outlook for the overall altcoin market. Particularly, he urged investors to remain patient, viewing the recent dip as a buying opportunity rather than a reason for panic selling. Faibik stated, “Altseason hasn’t arrived yet; this is just the trailer. Patience always pays off.” Furthermore, Marks extended his bullish outlook beyond SHIB to include Dogecoin (DOGE), another widely-followed memecoin. In a separate analysis, Marks noted that DOGE is exhibiting strength and could potentially rally to $0.6533, possibly reaching as high as $1.2511 if it breaks key resistance levels. Related Reading: Dogecoin Defies Crypto Market Crash: Analyst Says It Looks ‘Incredible’ This would represent a 56% to 90% increase from its current levels, highlighting the potential for further gains in the memecoin market. Featured image created with DALL-E, Chart from TradingView
The Shiba Inu burn rate has seen a turnaround, skyrocketing by 1,068% despite the meme coin’s recent price decline. This unexpected Shiba Inu burn recovery comes amid a bearish market trend, with indicators suggesting the potential for further SHIB price corrections. However, the sharp increase in burn rate could indicate a renewed interest from investors, […]
This past few days has been quite the week for Shiba Inu, the second-largest meme coin by market valuation. The token saw a minor drop following a rejection over the weekend, but it began the month of December strongly with a price increase on the 1st. Related Reading: Market Expert: Not Long On XRP? You’re ‘Disrespecting’ Yourself Analysts continue to feel optimistic about the future for Shiba Inu while the market gets volatile but project that a considerable breakout should push the prices up. Despite some turbulence in the market, analysts are positive about the future of Shiba Inu, predicting that the major breakout could push the price up by 35%. The token is currently trading around $0.00003 but technical charts suggest a big move ahead. A Bullish Trend Is Developing The coin is currently filling a bullish pattern on its price chart, according to Shiba Inu analyst Shib Knight. Knight noted in a recent tweet that an ascending triangle is building on the SHIB/USDT chart. $SHIB filling Bullish pattern slowly. Target is above 0.00004 pic.twitter.com/Uw9Ql14vot — $SHIB KNIGHT (@army_shiba) December 6, 2024 Based on this pattern, Shiba Inu is almost breaking through; once it crosses the $0.000040 barrier, it should climb by almost 30%. The pattern shows that the coin will soon move as the chart closes at the point; should the breakout as expected, the price can rise rather significantly. Positive Market Mood Supporting Optimism Shiba Inu’s remarkable success results from more than just technical cues. Driven by Bitcoin’s breakthrough of $100,000, the whole boom in cryptocurrencies has renewed optimism. Political as well as financial concerns are driving this favorable market attitude. More excitement has been generated by the prospect of a crypto-friendly administration under Donald Trump, which has raised hopes for future expansion in the meme currency market. Shiba Inu is actually expected to have a huge price hike by 2026, according to some analysts, with some even expecting a 5,600% increase. Solid 2024 Numbers And Long-Term Forecasts A lot of talk has been going around the 629% price increase for SHIB in the next 12 months. With its sudden jump to over $0.00003, many investors are now looking into the future move of the meme coin. Some analysts say that long-term investors might find Shiba Inu reaching $0.0017 by 2026. Any person buying now could get a 5,600% return on investment, which would be representative of the type of transformative profits that many meme coin investors are targeting. Remember how the price of Shiba Inus rose 85,000% between 2020 and 2021, turning modest investments into large fortunes. Related Reading: Dogecoin Days At The Top Numbered? Cardano Set To Take Over — Analyst The Road Ahead Shiba Inu has strong technical signs and a favorable market sentiment, but that doesn’t mean a breakout will happen soon. But there is a good chance that prices will keep going up because the market is stable, the charts look good, and the coin has done very well in the past. Shiba Inu’s price is getting close to levels of high resistance, so everyone is waiting for the next move. The options are definitely exciting for investors, and the price should be able to go above $0.00004 or higher. Featured image from Pexels, chart from TradingView
A wallet linked to the United States government has transferred over 54 billion Shiba Inu (SHIB) tokens to a newly created wallet. Popular blockchain analytics platform Arkham Intelligence indexed the transaction on December 3. Announcing the move on X, Arkham stated: “ALERT: US GOVERNMENT MOVING $1.5 MILLION OF SHIBA INU.” Specifically, the US government transferred 54,897,092,549 SHIB tokens to the Ethereum wallet ‘0x995’. Following the transaction, the sending wallet—associated with the US government—no longer holds any SHIB tokens. The recipient wallet, now with a total crypto portfolio valued at $33 million, has retained the assets. Notably, the US government acquired these SHIB tokens through the seizure of assets from Alameda Research, the trading firm affiliated with the now-defunct crypto exchange FTX. This seizure was part of a broader forfeiture action involving more than $700 million in assets due to legal issues surrounding FTX and Alameda. The SHIB tokens were among a variety of digital assets seized during this process. Related Reading: Shiba Inu Could Increase 75% If It Holds Current Level – Analyst Shares Price Target Data from Arkham suggests that the recipient wallet was newly created. Its first transaction occurred recently when it received $1.061 million worth of AEGRO tokens from the same wallet that moved the SHIB tokens. Within less than two hours, the wallet also received other crypto assets from the US government-affiliated address, including 4,815 ETH (approximately $17.9 million), 13.58 million BUSD ($133 million), and 631,959 POWR ($221,000). While it remains unclear whether the US government has sold its SHIB holdings, the absence of any identified exchange or over-the-counter (OTC) addresses linked to the transaction suggests that the government may still hold the tokens. Shiba Inu Price Analysis: Potential For A 130% Surge? Crypto analyst Rony Kapoor (@LearnRony) shared a comparative chart analysis between Dogecoin (DOGE) and Shiba Inu (SHIB) on X, stating: “Next leg up in SHIB will be like DOGE? Shib looks like big Cup & Handle pattern forming like doge before it run turbo. Sooner or later Shiba Inu will pump!!!” The chart for DOGE illustrates a clear “Cup and Handle” formation—a bullish continuation pattern that often precedes a significant price breakout. DOGE’s handle formed near the $0.21 mark, and following a period of consolidation, the token rallied to a peak of approximately $0.48. This move represented a substantial 128% increase from the breakout point. Related Reading: Shiba Inu All Set For ‘Bull Show’, Eyes 180% Rally – Analyst Similarly, SHIB’s chart indicates the potential formation of a Cup and Handle pattern, with the structure still developing. The current trading price is hovering around $0.000030, with resistance levels identified at $0.000038—the anticipated handle resistance. If SHIB follows a trajectory similar to DOGE, a successful breakout could target a price level around $0.000087, based on the proportional increase observed in DOGE’s previous movement. Technical indicators such as the Fibonacci retracement levels support this analysis. SHIB is currently trading below the 0.618 Fibonacci level at $0.000032. A break above this level could see SHIB targeting the 0.786 Fibonacci level at $0.000038. Subsequent targets include the yearly high from March at $0.00004569. Notably, the all-time high of $0.00008854 aligns closely with the projected target from the Cup and Handle pattern identified by Kapoor. Featured image from Shutterstock, chart from TradingView.com
Shiba Inu (SHIB) is stirring up excitement again. The meme-based cryptocurrency has seen bullish momentum lately, grabbing the attention of investors and analysts alike. But is this rally sustainable, and could SHIB really soar to the heights some experts are predicting? Related Reading: Cardano To Hit $10? Analyst Thinks It’s Happening This Cycle Crypto analyst Javon Marks thinks so. He just recently published insights suggesting SHIB may be targeting $0.000081, a massive 179% jump from where it is today. The market has been very unpredictable, but Marks said that this breakout is a sign of strength. Is this enough to keep SHIB in the spotlight? Bullish Signals Shine Bright Recent success by Shiba Inu in closing above important resistance levels has revived expectations for more gains. Technical successes along these lines are suggestive of good buy order accumulation. When SHIB continues on this trend, then reaching the $0.000081 target is not very far-fetched. $SHIB (Shiba Inu), after recently confirming another bull pattern, looks to be further joining the bull show as prices are now showing signs of MAJOR STRENGTH! With holding breakouts implying that $0.000081 target to still be in play, these prices can be subject to another… https://t.co/CKpxZb7CMh pic.twitter.com/lu2QT5FzEg — JAVON⚡️MARKS (@JavonTM1) December 1, 2024 At the time of writing, SHIB was trading at $0.00003061, which is an increase of 13% in the last 24 hours. That is no small achievement in a volatile market. According to analysts, for SHIB to keep on moving upward, maintaining support levels will be of prime importance. It is not about breaking resistance; it is also about staying above it. Recent Setbacks And Market Volatility However, not all has been smooth sailing. SHIB saw a slight pullback recently, dropping to $0.000029 after losing 6% in a single day. This decline mirrors a broader market slump, with the total crypto market cap shrinking by 6%. Even against Bitcoin, SHIB stumbled, recording a 4% loss. With these fluctuations, one can see the risks that crypto trading poses. Investors should wait for clear breakout confirmations and keep an eye on broader market trends. Short-term price movements are always misleading, so patience is key. The Road Ahead For Shiba Inu Beyond price movements, there are strategic moves made on the part of Shiba Inu to evolve its ecosystem. Developers are working on advanced integration of blockchain technologies to boost utility. Smarter contract platforms can transition it from a mere meme coin to a valuable tool for decentralized applications (dApps). The whole shift might attract long-term investors to look for more than speculative gain. Related Reading: As Bitcoin Nears $100,000: “Don’t Be Left Behind,” Robert Kiyosaki Says Meanwhile, as the memecoin’s journey to $0.000081 is ambitious, the short-term to medium-term performance of Shiba Inu is quite robust, showing a 109% increase in the last three months. If the bullish trend is sustained and it takes advantage of the technology involved, even the critics will be surprised. For now, it is all about watching the key price levels and navigating through the volatile crypto waters. As always, investing in SHIB – or any crypto for that matter – carries risks, but the potential rewards continue to captivate many. Featured image from DALL-E, chart from TradingView
Popular dog-themed meme coin Shiba Inu is currently riding the bullish wave, attracting notable gains following the renewed momentum of the general crypto market. This recent uptrend of Shiba Inu has fueled robust optimism within the community about its potential for a significant rally in the upcoming weeks. A Bull Run Likely For Shiba Inu […]
Shiba Inu, the popular meme coin, has witnessed an extraordinary surge in its burn rate, with a staggering 7,418% increase and over 2 billion SHIB tokens burned over the past week. This significant reduction in circulating supply has ignited optimism among investors, especially with the Shiba Inu price currently trading at yearly highs. Related Reading: Is $10 Within Reach For Cardano? Whale Moves Signal Big Rally Ahead Shiba Inu Weekly Burn Reaches New Highs Shibburn, the official platform tracking SHIB token burns, revealed on social media platform X a 7,418% spike in SHIB’s weekly burn rate during the week leading up to November 30. This sharp rise resulted in the removal of approximately 1.937 billion SHIB tokens from circulation, a significant milestone in the ongoing effort to reduce the token’s massive supply. Following this X post by Shibburn, the momentum of SHIB burns has only increased alongside the Shiba Inu price. At the time of writing, the total number of SHIB tokens burned over the past seven days has exceeded 2 billion, reaching an impressive 2.15 billion SHIB tokens. From this, 386.5 million of these tokens were burned within the last 24 hours alone. How Burn Mechanics Impact SHIB Price Token burns are a mechanism by which cryptocurrency supply is deliberately reduced, aiming to increase scarcity and, in turn, create upward pressure on the asset’s price. For Shiba Inu, which started with an enormous circulating supply, consistent and sizable burns are critical to its long-term valuation prospects. Shiba Inu was created with a total supply of 1 quadrillion tokens, but SHIB burn endeavors have reduced the circulation by almost half. The latest Shiba Inu burn figures underscore the community’s dedication to this strategy, with over 2 billion tokens removed from circulation within a single week. At the time of writing, the total circulating supply of the meme coin is 589.26 trillion SHIB tokens. The aim has always been to burn a majority of the SHIB tokens created. According to Shiba Inu lead developer Shytoshi Kusama, this ambitious goal can be achieved. However, he did note that burning 99% of the total SHIB tokes created is also hard for a few reasons. Furthermore, he noted that burns are not the only way SHIB wins. There is the need to give the memecoin utility and ensure it gets to a point through viral distribution that people don’t want to burn the token anymore. Related Reading: As Bitcoin Nears $100,000: “Don’t Be Left Behind,” Robert Kiyosaki Says At the time of writing, the Shiba Inu price is trading at $0.00003059, having increased by about 13% in the past 24 hours. Notably, the Shiba Inu reached an intraday high of $0.00003146, bringing it very close to setting a new price high in 2024. Featured image from Pexels, chart from TradingView
Shiba Inu (SHIB) is capturing market attention as it consolidates at a critical level following an impressive 80% rally from recent lows. The meme-inspired cryptocurrency has shown remarkable resilience, and its current price action suggests a potential breakout at an aggressive pace if it can push above key resistance levels. Related Reading: Ethereum Eyes $3,900 – Key Resistance Break Could Spark A Surge Top analyst InvestingHaven recently shared a technical analysis on X, highlighting SHIB’s bullish potential for 2024. According to the analysis, Shiba Inu is currently holding strong at a critical Fibonacci retracement level, a signal that aligns with its positive trajectory for the year. This level is pivotal for SHIB, as breaking above it could pave the way for even higher price targets. As SHIB consolidates, investors and traders closely monitor its movements for signs of the next major move. The bullish outlook for 2024 has sparked renewed confidence in the asset, with InvestingHaven’s analysis setting ambitious targets for SHIB in the coming months. The market is now focused on whether Shiba Inu can maintain its momentum and deliver on its potential for further gains. With key support holding firm, SHIB’s next steps could determine its trajectory for the rest of the year. Shiba Inu Waking Up Shiba Inu is making waves as meme coins continue delivering massive returns in recent weeks. Following an explosive 80% rally, SHIB retraced 25% in under three weeks but has shown resilience as buyers maintain momentum. The cryptocurrency remains in focus as investors anticipate its next move amid bullish sentiment across the market. Top analyst and investor InvestingHaven shared a detailed technical analysis on X, highlighting SHIB’s strong prospects for 2024. According to the analysis, Shiba Inu is consolidating at a critical Fibonacci level, which aligns with its bullish targets for the upcoming year. The recent rebound from $0.0000158 has strengthened market sentiment, solidifying SHIB’s support zone. Key Fibonacci levels indicate potential targets of $0.0000444, with a more ambitious stretch target of $0.0000555 by 2024. Related Reading: Bitcoin Holds Above $90K – On-Chain Data Reveals Key Demand Levels The next few days will determine whether SHIB can break above the $0.000026 resistance level. A successful breakout could continue its upward trajectory, driving SHIB toward its higher targets. However, failure to hold its current levels might lead to further consolidation. SHIB Testing Crucial Supply Shiba Inu is trading at $0.0000258 after several days of volatile price action and market indecision. The price has fluctuated within a tight range, finding support near $0.000023 and facing resistance at $0.000028. This consolidation phase has kept traders on edge as they await a decisive breakout. If SHIB breaks above the critical $0.000026 resistance level, it could build the momentum needed to challenge the $0.000028 local high. A successful push above this level would likely signal the start of a more aggressive upward move, targeting the yearly highs at $0.000045. This level represents a significant milestone for SHIB, aligning with key technical and psychological factors that could further bolster its bullish trajectory. Related Reading: Cardano Whales Buy The Dip – Metrics Show Increasing Demand On the other hand, failure to break above these resistance levels might result in continued sideways trading or even a pullback toward the lower end of the range. The next few trading sessions will be crucial as market participants closely watch whether SHIB can sustain its bullish momentum and overcome these barriers. Featured image from Dall-E, chart from TradingView
The broader crypto market has witnessed a massive surge in the Shiba Inu burn rate, with the metric skyrocketing by 2,296% in just one day. This remarkable surge reflects the community’s desire to decrease the overall supply of Shiba Inu and possibly induce a price increase. With Shiba Inu showing signs of a strong revival, […]
Popular dog-themed meme coin Shiba Inu may be transitioning towards bullish territory once more as SHIB seems to be regaining its upward momentum for another notable rally after a recent price decline, which caused the token to drop to the $0.000023 level. Upside Strength Building Up For Shiba Inu Following renewed strength in the market, […]
Shiba Inu (SHIB) is garnering attention for its robust performance and potential for future expansion as 2024 draws to a close. SHIB has managed to captivate the interest of both investors and crypto enthusiasts, as it is currently dealing at $0.00002566. The technical signals of the memecoin show notable preparation for a big rally, which has generated expectation for notable increases in the next weeks. Related Reading: Crypto Bloodbath: Over $500 Million Liquidated As Bitcoin Slides To $92K – Report Positive indicators Surface For Shiba Inu With reference to Shiba Inu on X, crypto expert Javon Marks expressed hope, noting that the value of SHIB might skyrocket. From what he saw, SHIB has already grown by 162% in the past few months, and this growth is likely to continue. One of the main things that supports this statement is the Hidden Bullish Divergence, a technical pattern that shows that price movement is about to happen. $SHIB (Shiba Inu) looks to be in some of its best positions in years, holding well broken out and up over 162% since, while also showing majorly positive responses to a recent Hidden Bullish Divergence! This divergence can suggest an over 75% move above the 2024 Highs but that… https://t.co/pKDT2dWaUn pic.twitter.com/0L7gwCcSAf — JAVON⚡️MARKS (@JavonTM1) November 26, 2024 The trend basically shows that while the price of SHIB has been producing lower lows, the Relative Strength Index (RSI) has been making higher lows even during a consolidation phase. This points to a mounting optimistic pressure. Price Fluctuations And Short-Term Growth In the near term, SHIB has experienced significant price swings. In the last week, its price has gone up by 3.35%, and in the last month, it rose to around 54%. These increases show that the “joke coin” is picking up a lot of steam. However, the trip is not completely uneventful. Despite the favorable short-term development, the price of SHIB has dropped by 4.08% over the last six months, suggesting considerable volatility. Analysts warn that short-term profit-taking after recent advances could obstruct the memecoin’s price movement as it evolves. However, SHIB has a great possibility to grow further with the strong support of its growing ecosystem projects and community. Related Reading: Ethereum Momentum Builds: 10% Surge Sparks ATH Hopes Important Price Levels To Monitor Key price levels have a big effect on future movements for people who are keeping SHIB or thinking about getting in. Expert research says that the level of $0.000081 is the first important resistance point. If this level is broken, the price could go up by 215%. Also, SHIB is trading 3.20% below what it is expected to be worth in a month, which suggests that prices could go up in the short run. The next goal could be $0.00000900 if SHIB breaks through support at $0.00000850. The coin is expected to experience a 102% increase in the next six months for long-term investors, followed by a 92% increase in the following year, data from CoinCheckup shows. Technical clues indicate a possible breakout and robust long-term forecasts, thus Shiba Inu might be ready for a new phase of development. Investors should keep a close eye on current levels since the memecoin offers significant prospects in not too distant future. Featured image from Pixabay, chart from TradingView
The Shiba Inu burn rate is facing new challenges amidst a corresponding lull in the Shiba Inu price. According to data from Shiba Inu burn tracker Shibburn.com, the number of SHIB tokens burned in the past 24 hours has declined noticeably, which gives rise to a concern about the activity surrounding Shiba Inu and whether […]
Shiba Inu lead developer Shytoshi Kusama has addressed inquiries regarding the ambitious goal to burn 99% of the circulating SHIB token supply. Kusama initially engaged with the community by inviting questions for his podcast, stating, “What a topic or question you want to hear answered on my podcast? #shyspeaks.” Burning 99% Of Shiba Inu Tokens ‘Can Be Achieved’ This call to engagement set the stage for subsequent discussions about the potential token burn strategy. Fang Zhang, Chief Financial Officer at LSP Finance, directly queried the feasibility and strategic planning behind such an extensive burn: “The timeline and roadmap of burning 99% Shib Token in circulation, pls.” Responding to Zhang’s inquiry, Kusama provided an explanation of the challenges and considerations involved in burning 99% of SHIB tokens. He acknowledged the historical improbability of such an endeavor, noting, “Burning 99% of Shib seemed impossible just a few years ago, but with many projects banding together to achieve this monumental task it can actually be achieved.” Related Reading: Shiba Inu ‘To The Moon’: Lead Kusama Unveils Key Catalysts Kusama elaborated on the necessary conditions for this outcome, emphasizing the adoption of the Shib tech stack by multiple projects, particularly large-scale ones, to facilitate the burn. “More and more projects or a few mega large ones have to adopt the Shib tech stack,” the SHIB lead dev stated. Kusama highlighted several significant obstacles to achieving the burn target. He explained that if the burning process begins to accelerate, it could drive up the price of SHIB as investors anticipate a surge, making the burn more expensive and thereby slowing the process. “Assuming things started spiraling to a huge burn, people will buy considering that the price will moon. In this case, it would be more expensive to burn Shib, slowing down burning,” Kusama stated. Related Reading: Shiba Inu Could See A 53% Surge If This Resistance Breaks, Analyst Explains Additionally, he emphasized that the strategic intent behind the burn is as crucial as the actual burning process itself, saying, “It’s not the burning that matters, it’s [the] intention.” Moreover, Kusama pointed out that token burns are not the sole pathway to SHIB’s success. He articulated that the development of utility for the memecoin is equally important, noting, “Finally, burns are not the only way Shib wins. If I say oh I approximate, that would take ANY LENGTH OF TIME, it’s not short enough for fudders. So we find other ways to give a memecoin utility and ensure we get to a point through viral distribution that people don’t want to burn the token anymore.” He stressed the importance of enhancing SHIB’s utility through mechanisms like staking and developing new use cases for associated tokens such as BONE, LEASH, and Treat. The proposed burn of 99% of SHIB’s total supply would create extreme scarcity. Should demand remain stable or increase, the reduced supply could lead to a significant rise in the value of each remaining SHIB token. This shift has the potential to elevate SHIB from its current status as a low-cost meme token to a more valuable asset. However, Kusama clarified that such a burn would be a gradual process, driven by the adoption and integration of SHIB’s technology across various projects probably over several years, rather than an immediate reduction. As of press time, SHIB is attempting to breach the 0.5 Fibonacci retracement level at $0.00002823. This technical level is derived from the March 5 high of $0.00004567 and the local low of $0.00001067 observed on August 5. In the short-term, a successful breakout above the 0.5 Fib level could pave the way toward the 0.618 Fib target at $0.00003235. Featured image created with DALL.E, chart from TradingView.com
The Shiba Inu community has launched a petition urging Binance to list Bone ShibaSwap (BONE), a pivotal token within the Shiba Inu ecosystem. This move aims to strengthen the ecosystem’s growth and enhance the interconnected utility of its tokens—SHIB, BONE, and LEASH. Shiba Inu Team Hopes For Another Successful Petition Lucie (@LucieSHIB), the marketing lead […]
Shiba Inu (SHIB) is currently consolidating after a massive rally earlier this month, which saw the token surge to $0.00003046 (on Binance). However, the momentum waned as SHIB retraced to levels below $0.00002303. With Bitcoin witnessing a push towards $100,000, SHIB investors have urged the development team to implement strategies that could catalyze a substantial rally Key Catalysts For Shiba Inu Price In response to these appeals, Shytoshi Kusama, the lead developer of the Shiba Inu ecosystem, addressed the community’s concerns by highlighting SHIB’s achievements and catalysts which will enhance the SHIB token valuation. Emphasizing the token’s prominence on the Ethereum blockchain, Kusama first stated via X: “‘Hey dude send Shib to the moon.’ Checks we are still #1 eth token in the world.” Addressing the notion that SHIB is merely a get-rich-quick scheme, a user commented: “What people don’t get is this token is about function and not just get rich quick.” Kusama agreed, replying that a superior technology and adoption are the key catalyst for the Shiba Inu token price: “Because through function we change the world and wagmi. No leader. Lots of tech. Unparalleled vision in the entirety of crypto. What more can you ask for?” Kusama wrote. Related Reading: Shiba Inu Could See A 53% Surge If This Resistance Breaks, Analyst Explains The conversation also turned to SHIB: The Metaverse, a project anticipated to drive broader adoption of the Shiba Inu ecosystem. When asked about its launch, Kusama revealed: “I expect a MV update in the Shib Mag soon :)” SHIB: The Metaverse is envisioned as a virtual world within the SHIB ecosystem, offering a digital playground where users can socialize, game, and trade digital assets. This metaverse aims to integrate Shiba Inu’s community, tokens, and services like ShibaSwap into a cohesive online environment. Users will be able to purchase virtual land, create unique experiences, and potentially mirror real-life businesses. Concerns about competition from other meme tokens were also addressed by Kusama. When a user asked about the competition from Dogecoin (DOGE) and BONK, Kusama emphasized that the SHIB ecosystem will be on an enterprise level: “I hope all memes do well so that wagmi. But they are playing ‘I Declare War’ and I am on the enterprise playing multilevel chess with the shields raised saying Check to a Klingon. #kipla” he stated. Related Reading: Shiba Inu (SHIB) Ready To Roar! Analyst Calls For A 200% Spike Further emphasizing upcoming developments, Kusama announced via X: “Analysis: Shib is still King! Bone is key. Leash is strong. TREAT is Coming.” He added shortly after: “Reminder that TREAT released by Shib Core is not yet available.” The TREAT token, designed as an access key to advanced features within the Shiba Inu ecosystem, is set to be released soon. This token will complement the existing SHIB, BONE, and LEASH tokens, each serving distinct roles within the ecosystem. While LEASH focuses on exclusivity and BONE on technology, TREAT will unlock advanced functionalities, enriching the overall user experience. In July, Kusama elaborated: “As you may know, Shib is home to a variety of tokens, including Shib, Bone, Leash, and our upcoming unreleased token: TREAT. Each token has its own utility and governance, and TREAT is the access token to all the advanced features of our system, in contrast to Leash, which is about exclusivity, or Bone, which focuses on technology.” Hinting at another potential catalyst, Kusama retweeted a post by artchick.eth (@digitalartchick), who speculated: “Memecoin ETF within 10 months.” Kusama commented: “I didn’t say it…. but I did RT it.” The prospect of a memecoin ETF in the United States is significant. Similar to the US spot Bitcoin and Ethereum ETFs, a memecoin ETF could attract substantial inflows from investors currently unable to access memecoin markets. Given its status as the second-largest memecoin by market capitalization, Shiba Inu would be a prime candidate for inclusion. At press time, SHIB traded at $0.00002502. Featured image from Shutterstock, chart from TradingView.com
An analyst has explained how Shiba Inu could kickstart a new rally to this price target if it can break through the $0.000025 resistance level. Shiba Inu Is Currently Trying To Break Past The $0.000025 Resistance In a new post on X, analyst Ali Martinez has discussed a pattern that has been forming in the SHIB price recently. Below is the chart shared by the analyst that depicts the technical analysis (TA) pattern in question. As is visible in the graph, Shiba Inu has been consolidating inside a bull pennant recently. A pennant is a pattern that consists of three parts: a pole, a triangular consolidation channel, and the succeeding breakout. The ‘pole’ is made up of an initial sharp uptrend or downtrend in the coin’s price. In the context of the current topic, a bull pennant is of relevance, so the pole corresponds to the former type of trend. Related Reading: XRP Binance Inflows Spike: What It Means For Price The consolidation channel that succeeds the pole (the region that’s actually the ‘pennant’) has the asset move back and forth between two converging trendlines. The upper level of the channel generally provides resistance, while the lower one supports. A break out of either of these lines can imply a continuation of trend in that direction. The likelihood of a breakout taking place naturally goes up the closer the asset gets to the apex of the pattern. From the chart, it’s apparent that Shiba Inu has been closing in on the converging point of this bull pennant recently, implying that a break could take place soon. In the scenario that this breakout happens towards the upside, it’s possible that the resulting uptrend would last for a similar length as the pole. If so, SHIB would rise to the $0.000037 mark. Such a rally would imply an increase of more than 53% from the current price of the meme coin. However, Shiba Inu must clear one major obstacle for the run to occur: the $0.000025 level. Not only does this level roughly coincide with the upper line of the pennant, it also hosts a major on-chain demand zone. As Martinez has pointed out in another X post, around 40,000 addresses purchased a total of 54.6 trillion tokens of the asset around an average price of $0.000025. Investors who bought their coins around this level would naturally be holding them at a loss right now. As such, it’s possible that when the SHIB price retests this level, some of these holders will decide to sell, fearing that their holdings will dip into loss again in the future. Related Reading: Cardano Outperforms Market With 50% Surge: Here’s Why This potential selling can increase the resistance that Shiba Inu would encounter when trying to break past this mark. SHIB Price At the time of writing, Shiba Inu is trading around $0.000024, down almost 4% over the last week. Featured image from Dall-E, IntoTheBlock.com, charts from TradingView.com
Shytoshi Kusama, the pseudonymous lead developer of Shiba Inu, has laid out a strategic plan focused on driving mainstream adoption and enticing centralized exchange (CEX) support for Shibarium, Shiba Inu’s Ethereum Layer-2 solution. In an exchange on X, the team behind FEED (@feedcto), a Shiba Inu-based memecoin on the Shibarium network, raised concerns about the […]
The mysterious investor made an over 250,000-fold return on his initial investment of just $10,000, which is worth over $2.5 billion today.
Meme coin Shiba Inu has resumed its uptrend and is now on an 8% price uptick in the past 24 hours. However, this positive momentum is contrasted by a significant decline in whale activity, as revealed through data from on-chain analytics platform IntoTheBlock. Related Reading: Dogecoin Price Flashes Bull Flag On The Hourly Chart, Can […]
Crypto analyst MadWhale has predicted that the Shiba Inu price could suffer a significant crash soon enough. Based on the analysis, this price correction is simply a healthy retracement that could pave the way for SHIB to reach new highs. Shiba Inu To Suffer A Major Price Crash In a TradingView post, MadWhale predicted that Shiba Inu could suffer a major price crash soon enough. According to the analyst, SHIB could decline further to the next lower Fibonacci support level. The analyst’s accompanying chart showed that this Fib support level is just above the psychological price level of $0.000020. Related Reading: Can Dogecoin Price Reach $1 By Year End? Here’s What The Fibonacci Levels Say However, the analyst is still bullish on Shiba Inu in the long term despite the possibility of this price crash. MadWhale stated that they anticipate a renewed upward movement following the potential dip, leading to a price recovery and subsequent price increases. The accompanying chart showed that the Shiba Inu price could rally to $0.00003200 on the first leg of this recovery. MadWhale also provided insights into why they are bullish on Shiba Inu’s long-term trajectory. The analyst stated that a significant influx of trading volume has entered the market for SHIB. Furthermore, they claimed that the meme coin is backed by one of the largest media platforms and communities in the global crypto space, which enhances its influence and market visibility. A price correction also seems likely for Shiba Inu, especially if the Bitcoin price were to correct following its recent parabolic rally past $90,000. IntoTheBlock data shows that the Shiba Inu price correlation with Bitcoin is at 0.91, which indicates a strong positive price correlation between both assets. Moreover, Shiba Inu’s recent rally has also been thanks to the parabolic rally that the Dogecoin price has enjoyed, given their price correlation. Therefore, with crypto analysts like Kevin Capital predicting that DOGE will witness a price drop soon, SHIB could also follow suit. SHIB Could End The Year At $0.0000444 In an X post, crypto analyst Investing Haven predicted that Shiba Inu could rise to $0.0000444 by year-end. The analyst stated that this price target aligns with the 25% Fibonacci retracement. Furthermore, Investing Haven noted that October’s predicted dip to $0.0000144 saw buyers step in at $0.0000158, reinforcing a bullish setup. Related Reading: Dogecoin Price To $20? Higher Montly Close Suggests 8,000% Run Is Possible Meanwhile, Investing Haven also stated that Shiba Inu’s strength signals an ultra-bullish 2025. The analyst’s accompanying chart showed that SHIB could rally to $0.00007436 sometime next year. This target is still below Shiba Inu’s current all-time high (ATH) of $0.000088. However, crypto analyst Javon Marks predicted that SHIB would still rally to its ATH and surpass it. At the time of writing, Shiba Inu is trading at around $0.00002642, up over 11% in the last 24 hours, according to data from CoinMarketCap. Featured image created with Dall.E, chart from Tradingview.com
Shiba Inu (SHIB) has had a significant surge this week, with its price increasing by over 60% in the last seven days. This increase is indicative of a broader trend in the cryptocurrency market, where significant coins such as Dogecoin are also reaping the rewards of overall market optimism. Related Reading: XRP Price Patterns And 2024 Election Spark Talk Of A New Rally SHIB’s ascent, presently valued at $0.00002803, is gathering traction, drawing the interest of both retail and institutional investors. In the past 24 hours, SHIB’s trading volume reached $5.69 billion, clearly indicating market awareness. This behavior indicates that SHIB may be preparing for substantial price fluctuations, particularly if market sentiment continues to be optimistic. Favorable Sentiment For The Memecoin A huge portion of SHIB growth can be attributed to the positive sentiment that exists in the cryptocurrencies market. Recent election results in the United States have instilled growing confidence, which seems to be spreading within the crypto space. The broader crypto landscape’s renewed confidence has largely acted as a catalyst in pushing the price up for SHIB. Some analysts even foresee that the price might shoot up as much as 306% based on this positive outlook. This optimism has resulted in a significant increase in whale activity, with substantial investors executing transactions that may substantially enhance SHIB’s value in the forthcoming months. With the growing interest in meme coins, SHIB’s market position appears increasingly favorable. Whale Activity Indicates Confidence One major determinant of SHIB’s growth is whale activity. Previously quiet for eight months, an investor has now reappeared and sent significant amounts of SHIB to exchanges. One such deal is the $2.81 million worth of 100 billion SHIB transfer to Gemini. This trade among others shows that whales are positioned deliberately to take advantage of SHIB’s recent spike. Early $SHIB buyer “0xd6b,” with a $120M profit, is back to offload tokens after 8 months of inactivity. An hour ago, this whale deposited 100B $SHIB ($2.81M) to #Gemini, leaving 2.5T $SHIB ($73M) remaining. Total estimated profit from $SHIB: $120M (+415%). Follow @spotonchain… https://t.co/yGvZt3QyKC pic.twitter.com/SODtxnIZ77 — Spot On Chain (@spotonchain) November 12, 2024 The whale holds a massive 2.5 trillion SHIB, worth around $73 million even after moving large volumes. This behavior usually shows trust in the potential of the asset, implying that large investors are orienting themselves for continuous expansion. Related Reading: Shiba Inu Strategic US Hub Plan Sends SHIB Price On A 23% Moonshot Shiba Inu & Market Dynamics SHIB’s future will likely be influenced by persistent whale activity and prevailing market mood. The cryptocurrency market’s evolution indicates a robust development potential for SHIB. The growing interest from institutional investors, along with the fervor of regular traders, may create conditions for another substantial price surge. Nonetheless, with profit-taking already underway, it is evident that certain investors are attempting to realize their profits. The euphoria surrounding SHIB, driven by favorable sentiment and substantial transactions, remains elevated, with many wagering on the memecoin’s further success. The forthcoming months will be pivotal in ascertaining whether SHIB can sustain its rising trajectory or will encounter a setback. Featured image from Pngtree, chart from TradingView