Shiba Inu (SHIB) has started the month on a bearish note, as its price has dropped significantly since September 1. Based on historical data, SHIB could suffer more price declines this month, as the meme coin has often closed at a loss in September. Shiba Inu Begins September In The Red Data from CoinMarketCap shows […]
In an announcement on X, Lucie (@LucieSHIB), the marketing lead for Shiba Inu, delineated the commitment of the Shiba Inu team towards implementing a robust governance framework centered around their digital asset LEASH. With a fixed supply of 107,000 units, LEASH serves as a key financial asset and as a linchpin in the governance structure […]
The Shiba Inu ecosystem has taken a significant step forward with the introduction of a closed beta version of Shiba Eternity, its first game built on the Shibarium blockchain. Lucie, the Shiba Inu marketing lead, detailed the release schedule and features of the game in a comprehensive announcement on X today, marking a pivotal moment […]
The Shiba Inu (SHIB) burn rate has again tumbled with the number of tokens burned in the last 24 hours, painting a bearish picture for the meme coin. Shiba Inu’s burn rate has continually fluctuated since the start of the year, with a lack of a catalyst to sustain a significant amount of tokens burned […]
Dogecoin (DOGE) and Shiba Inu’s (SHIB) price actions have been unimpressive in the last 24 hours. This is mainly thanks to Bitcoin’s strong price correlation with the foremost meme coins, with the flagship crypto’s price also on the decline. Why Dogecoin And Shiba Inu’s Prices Are Down Dogecoin and Shiba Inu’s prices are down due […]
Shiba Inu (SHIB) is again catching the attention of crypto whales as on-chain data shows a 240% spike in this crucial metric. Thanks to the surge in this on-chain metric, a massive price rally for the second-largest meme coin by market cap might be on the horizon. Shiba Inu Records 240% Surge In Large Transactions […]
Shiba Inu’s lead developer, Shytoshi Kusama, has highlighted a feature that gives Shiba Inu an edge over the foremost meme coin, Dogecoin (DOGE). Despite this development, Dogecoin still looks to be the most preferred choice among crypto enthusiasts based on this important on-chain metric. Shiba Inu’s Edge Over Dogecoin In an X (formerly Twitter) post, […]
A recent transaction from Binance, the largest crypto exchange in the world, has caught the attention of the Shiba Inu community. This transaction was reported carrying a large number of SHIB tokens, sparking speculations of why the exchange executed this transaction in the first place. However, the destination of the tokens could serve as a […]
Data from the market intelligence platform IntoTheBlock shows that Shiba Inu whales have been offloading their holdings over the last 30 days. This development is likely due to several factors, including the meme coin’s unimpressive price action in recent times. Shiba Inu Whales Reduce Their Holdings Data from IntoTheBock shows that Shiba Inu whales have […]
Shiba Inu (SHIB) is at risk of significant selling pressure thanks to the bankrupt crypto firm Genesis Trading. This comes amid a spike in large transactions for the meme coin, which is undoubtedly a bullish development. How Shiba Inu Could Face Significant Selling Pressure Data from the on-chain analytics platform Arkham Intelligence shows that Genesis […]
The Shiba Inu (SHIB) marketing lead, Lucie, has provided insights into the challenges that lie ahead for the meme coin. She also highlighted how the SHIB ecosystem has evolved since launching four years ago. Challenges That Lie Ahead For Shiba Inu Lucie mentioned in an X (formerly Twitter) post that “building a decentralized network state […]
The cryptocurrency market has experienced a significant downturn over the past 24 hours, with assets such as Shiba Inu showing losses. A comprehensive review of CoinMarketCap reveals that the top 30 cryptocurrencies by market capitalization have recorded declines in both the past 24-hour and seven-day periods. As such, Shiba Inu hasn’t been left out, with […]
Shiba Inu (SHIB) turned four on August 1, a remarkable milestone for the meme coin, especially considering how far it has come. One of Shiba Inu’s highlights has been its token burns, which were again on display throughout July. Over 379 Million SHIB Tokens Burned In July Shiba Inu’s burn tracker Shibburn revealed in an […]
A crypto analyst has unveiled a new price target for Shiba Inu (SHIB) price, the second-largest meme coin by market cap. While highlighting Shiba Inu’s immense growth potential, the analyst placed a significant condition on his ambitious price forecast, stating that if Bitcoin reaches $3 million per coin, SHIB could rise to a multi-trillion dollar […]
Shiba Inu Games, an affiliated company specialized in the development of games for the Shiba Inu ecosystem, announced a major update to their flagship game, Shiba Eternity. The collectible card game (CCG) will see a system overhaul that renders previous accounts and collections incompatible with the new version. Shiba Inu Games Announces Major Overhaul According […]
The Shibarium network, an Ethereum Layer 2 network that was developed and launched by the Shiba Inu team, did well following its initial launch in August 2023. However, less than one year following its launch, the Layer 2 network has run into some hard times, losing market share to larger counterparts. This has led to a decline in activity for the network as a whole, and so far this week, the Shibarium network has seen a major decline in active accounts. Shibarium Active Accounts Drop 80.3% In 4 Days The Shibarium network is currently struggling with adoption of the blockchain as its parent Layer 1 blockchain, Ethereum, is fighting against the likes of Solana to keep its users. Furthermore, Ethereum Layer 2 networks such as Base by Coinbase have also drawn out a reasonable number of decentralized finance (DeFi) users, putting it ahead of Shibarium. Related Reading: Golden Cross Appears On XRP Price Chart, Factors That Could Drive A Fresh Rally As a result of this, the Shibarium network has been unable to keep users, leading to a decline in active addresses. According to data from ShibariumScan, active accounts at the start of the week, on Sunday, July 21, were sitting at a mere 667. As the week has drawn on, this already small figure has crashed further down. On Wednesday, July 24, the total active accounts recorded on the Shibarium network was only 131. This means that between Sunday and Wednesday, the total active accounts on the Ethereum Layer 2 network had plummeted by 80.3%. In the same vein, there has also been a notable decline in new transactions. This metric saw a total of 6,353 transactions on Sunday. However, by Wednesday, the figures had declined to 1,023, representing an approximately 84% decline. Likewise, the number of new blocks mined dropped 66.6% from 17,220 on Tuesday to 5,739 on Wednesday. These all show that interest in the Shibarium network is completely down with number of new accounts created was only 11 on Tuesday, July 23. Playing With The Big Dogs While the popularity and success of Shiba Inu over the years played into the anticipation for the Shibarium network, it has failed to live up to the app. When it comes to Ethereum Layer 2 networks that were launched between 2023 and 2024, the Shibarium network doesn’t hold up a candle to these other players. Currently, the Total Value Locked (TVL) on the Shibarium network is only $1.5 million, according to data from DeFiLlama. In contrast, Coinbase’s Base network was launched in the same month of August 2023 as Shibarium currently boasts $2.175 billion in TVL. Related Reading: Analyst Says Solana Price Will Surge 1,000% To $1,800, Here’s When The Linea network was launched a few months before Shibarium in March 2023, and the Layer 2 network currently has a TVL of $1.198 billion. Likewise, the BLAST network, which was launched much later in February 2024, has $1.47 billion in TVL. What this suggests is that the Shibarium network may have failed, given its incredibly low usage. However, there is always the question of if the Layer 2 network will be able to rise from the ashes and become a top DeFi contender once again. Featured image created with Dall.E, chart from Tradingview.com
With the vast popularity of Shiba Inu in the crypto space and millions of investors holding the SHIB token, the direction of the price has always been an interesting and hotly debated topic. Expectations are that the meme coin will continue to rise drastically as theme coins become some of the frontrunners of the crypto market, and many analysts agree. Even a machine learning algorithm has predicted that the Shiba Inu price will surge in the next few days. Machine Learning Algorithm Predicts 119% Surge The CoinCodex machine learning algorithm, taking into account a number of indicators, has concluded that the Shiba Inu price is extremely bullish from here. According to the website, sentiment toward the meme coin is still very bearish, which is usually a good time to buy and when a bounce is more likely. Addition the Fear & Greed Index is still sitting at a score of 71 representing Greed. This means more willingness among investors to put money in the market. Related Reading: Crypto Analyst Says XRP Is Still On Course To Rise To $150 The predictions from the machine learning algorithm span various time periods, but the one of interest is the 5-day prediction. As the data from the website shows, the machine learning algorithm is expecting the Shiba Inu price to double in less than one week. At the time of writing, the Shiba Inu price is still skirting around the $0.000017 level, and the price prediction puts it at $0.00003839. Such a price increase for the SHIB price would mean a 119.45% increase in less than a week. However, on a longer time frame, which is 30 days, the machine learning algorithm expects the price to turn bearish again. It puts it at a price of $0.00001686, which is a 3.66% decline from the current price. But would be an over 50% decline if the price does hit $0.00003839 in the next five days as predicted. When Will Shiba Inu Reach A New All-Time High? Despite the bullishness of the past year, the Shiba Inu price has failed to reclaim its 2021 all-time high of $0.00008845. Its current value puts it around 80% below this all-time high price, meaning that the meme coin still has a long way to go before it sets a new peak. According to the CoinCodex machine learning algorithm, investors in the Shiba Inu meme coin may be waiting a long time before this happens. The longer timeframe forecasts expect that the Shiba Inu price will hit a new all-time high in the year 2029 and rise as high as $0.000156. This would mean that it would take another half a decade before those who bought at the peak in October 2021 to see profit on their holdings again. Featured image created with Dall.E, chart from Tradingview.com
Crypto exchange OKX has revealed plans to delist trading pairs for several crypto tokens, including Cardano (ADA), Shiba Inu (SHIB), and XRP. This follows a performance check by the crypto exchange, which shows that these trading pairs aren’t meeting up to expectations. OKX To Delist These Trading Pairs OKX announced in a blog post that […]
Recent price action indicates that Shiba Inu (SHIB) is currently underperforming compared to other major cryptocurrencies. Over the past seven days, SHIB has experienced a significant decline of 7.26%, and in just the last 24 hours, the token has fallen by an additional 2.58%. This downturn is particularly noteworthy when compared with the performance of […]
Polygon recently provided more details on the proposed migration of MATIC tokens to its new POL tokens. This forms part of Polygon’s plan to build “aggregated blockchains” as its innovative approach to scaling these networks. Everything To Know About MATIC’s Migration To POL Polygon revealed in a blog post that the mainnet upgrade from MATIC […]
WazirX, one of India’s largest cryptocurrency exchanges, suffered a security breach on Thursday that resulted in the loss of $230 million, nearly half of its reserves. The exchange referred to the incident as a “force majeure event.” However, the repercussions extend beyond WazirX alone, casting a shadow of uncertainty over Shiba Inu (SHIB) holders. Panic Sell-Off Fears Rise Blockchain analytics firm Elliptic analyzed the breach, revealing that approximately $235 million worth of various crypto assets were lost, including Shiba Inu ($96.7 million), Ethereum ($52.6 million), Polygon (MATIC) ($11 million), Pepe ($7.6 million), Tether’s USDT ($5.7 million), and Floki Inu (FLOKI) ($4.7 million). Related Reading: WazirX Exchange Releases Post-Mortem Report: Was North Korea Behind The $235M Exploit? As news of the breach spread, Julio Moreno, head of research at CryptoQuant, reported a surge in people rushing to exchanges to sell their assets. Notably, over 5 trillion SHIB tokens flooded exchanges within a few hours, intensifying concerns about a potential major sell-off wave. The impact on Shiba Inu’s price was evident, with the token experiencing a sharp decline of nearly 10% following the exploit to its current trading price of $0.000017. It was also disclosed that The hacker responsible for the WazirX breach sold off $102.1 million worth of SHIB tokens, according to on-chain data firm Arkham, contributing to the downtrend. However, reports indicate that market makers such as Wintermute intervened by purchasing SHIB from decentralized exchanges (DEX) and selling it on centralized exchanges, mitigating a further price drop for the token. Shiba Inu Price Analysis In the future, the extent of the sell-off and its impact is a concern, as investors’ decisions to sell their holdings as panic mounts could further exacerbate the current downtrend. Examining the SHIB/USD daily chart reveals three significant support lines expected to impede further downward movement. The first and relatively less significant support is anticipated to be around the $0.000014 zone. This level previously marked the end of a correction in early July, followed by a recovery towards $0.000020. Should selling pressure breach this level, attention turns to the crucial 6-month support at $0.000012. SHIB bulls must hold this level to prevent a deeper decline if significant buying pressure fails to materialize. Lastly, the $0.0000092 mark represents the ultimate threshold for bullish investors in the Shiba Inu coin. A breach of this level would potentially trigger a revisit to the token’s all-time low levels. Related Reading: MOVR Bulls Assemble: Crypto Analyst Says A 2,000% Surge To $234 Is Imminent Conversely, if SHIB experiences a recovery, the 200-day exponential moving average (EMA), depicted as the yellow line on the SHIB/USD chart, could act as a resistance point. This resistance will come into play if bullish sentiment controls SHIB’s price action. Featured image from DALL-E, chart from TradingView.com
The Shiba Inu burn rate has seen a notable recovery over the last day as the number of tokens being sent to the burn address has increased drastically. This recovery comes at a time when the crypto market has started to move into the green once again, and digital assets such as Shiba Inu are […]
The Shiba Inu Marketing Lead, Lucie, has provided more insights into what to expect from the SHIB Marketplace. The Shiba Inu team has teased this upcoming project for a while now, with the marketplace expected to launch soon enough. The Power Of The SHIB Marketplace In an X (formerly Twitter) post, Lucie highlighted the SHIB […]
With the approval of the Spot Ethereum ETFs by the Securities and Exchange Commission (SEC), other altcoins, such as Shhiba Inu, are moving forward in their bids for their own ETFs. For SHIB ETFs, Shiba Inu marketing lead has given a number of reasons why a SHIB ETF would actually be a great addition to […]
Shiba Inu (SHIB) whales have regained confidence in the second-largest meme coin by market cap. Recent data shows that these investors are no longer looking to offload their holdings but instead opting to hold for the long term. Shiba Inu Whales Accumulate More SHIB On-chain analytics platform Santiment mentioned in an X (formerly Twitter) post […]
The Shiba Inu price and where it could be headed has long been a bone of contention among analysts. While some see the meme coin struggling for the foreseeable future, others expect the coin to resume its rally and actually reach a new all-time high. A new Forbes report falls in the latter category, expecting a significant surge in price towards new highs. Shiba Inu Price To Reach New ATH In the Forbes report, the Shiba Inu token is lauded for its development and growing utility, pushing it to become the 13th-largest cryptocurrency in the space. However, over the last few years, the price has struggled and has failed to reclaim its $0.00008 all-time high despite the bitcoin price reaching new highs. Related Reading: Dogecoin Price In Trouble Amid 108 Million DOGE Dump On Robinhood The report points to a number of predictions, while tracing the performance of Shiba Inu through the years. One notable prediction is that of Utkarsh Tiwari, the chief strategy officer of KoinBX. Tiwari predicts that the price of SHIB could rally more than 100% from its current level to reach above $0.00003. The strategist believes that this could happen for the meme coin sometime around the end of 2024. However, for Forbes, a more realistic price point for the meme coin was set at $0.0001 to $0.0003. This deviates from Tiwari’s upper bound of $0.000396 for 2024, as it is a reasonable distance away from the current SHIB price of $0.000016. In the longer time frame, Tiwari predicts that the Shiba Inu price could go as high as $0.0000456 in favourable market conditions by 2025. However, pointing to “technological advancements and regulatory updates,” the report puts the price as high as $0.00007488 for 2025. SHIB Sees Dwindling Pressure Amid the high expectations for the Shiba Inu price, the meme coin has continued to struggle in the market. The market sell-offs affected the price over the last week, pushing it down to retest the support at $0.000016. Although the support held, it has shown how much pressure the bears are putting on the price. Related Reading: Crypto Analyst Says Bitcoin Could Reach $100,000, But What About Altcoins? On the volume front, the SHIB token is still struggling, as CoinMarketCap data shows a 22% decline in the last 24 hours alone. However, this could be good for the meme coin as it could mean that sellers are running out of steam, which could see the price push back up once again. For now, bulls continue to maintain the Shiba Inu price above $0.000016, getting a small boost from inflation data coming in lower than expected at 3%. Featured image created with Dall.E, chart from Tradingview.com
In an effort to fulfil its goal to advance the global educational sector, the FLOKI team has disclosed that building schools in the aforementioned nations was just the beginning of its vision to provide high-level academic opportunities in underprivileged nations. The team behind doggy-themed meme coin and Shiba Inu competitor, Floki (FLOKI) has unveiled plans to […]
The identify of the leaders behind the Shiba Inu project has remained a mystery since the founding of the project, from its pseudonymous founder Ryoshi to the current Lead Developer Shytoshi Kusama. Since Ryoshi stepped away from the project and the limelight, Shytoshi Kusama has since taken over, leading the project. However, it seems the […]
Shiba Inu marketing lead, Lucie has made a cryptic announcement to the SHIB community, indicating that something “special” was set to take place and highlighting the potential for more SHIB token burns. Exciting Surprise Ahead For Shiba Inu In a recent X (formerly Twitter) post, Lucie teased about a major surprise set to commence in […]
On-chain data presents a staggering perplexity surrounding Shiba Inu amidst the recent broader price decline in the past three weeks. Interestingly, this on-chain data presents itself in the large transaction volume of SHIB tokens across the Shiba Inu network. According to the latest on-chain data from IntoTheBlock, some serious Shiba Inu whales have been making […]