On-chain data has unveiled an impressive surge in the Shiba Inu burn rate, skyrocketing by more than 600% in just one day. This sharp rise in token burns indicates a growing interest in decreasing the overall supply of SHIB. Moreover, it has raised the possibility that the SHIB price could follow suit, as increased token burn often influences a cryptocurrency’s price movements. Shiba Inu Burn Rate Skyrockets Over 600% Shibburn, the official Shiba Inu token burn tracker, has just reported a dramatic increase in burn rate, with over 3.24 million SHIB tokens permanently removed from circulation. The tracking platform revealed that the SHIB token burn rate shot up by approximately 612.78% in less than 24 hours. This spike represents one of the most significant one-day increases in recent weeks. Related Reading: Shiba Inu Burn Skyrockets 1,068% Amid Market Bleed, Can Bullishness Push Price Above $0.00003 Again? Typically, a surge in a token’s burn rate is largely attributed to community-led initiatives focused on reducing the cryptocurrency’s supply and potentially inducing scarcity. Considering the large size and strong dedication of the Shiba Inu community, it’s not uncommon to see occasional spikes in burn rates. The community has been a strong advocate for token burns, believing that a supply reduction could trigger a price surge for SHIB. Despite the latest burn and substantial decrease in SHIB’s circulating supply, the meme coin’s price has yet to demonstrate any significant upward movement. In fact, Shiba Inu appears to be on a downtrend, as CoinMarketCap reports a 1.6% decline in the last 24 hours and a previous 9.3% drop over the past week. Currently, the price of SHIB is trading at $0.00002, experiencing no recent increases, while its 24-hour trading volume has crashed by 46.33%. Nevertheless, this lack of immediate price action and present bearish conditions does not rule out the potential for a future rally in Shiba Inu. Supporting this possibility of a bull trend driven by heightened token burns, crypto analyst Rananjay Singh commented on the recent 612% spike in the Shiba Inu burn rate on X (formerly Twitter). Singh explained that when a cryptocurrency’s supply declines and demand stays strong, prices tend to increase significantly. Related Reading: Shiba Inu Price To $0.000045? Here Are The Major Support And Resistances To Watch Out For The analyst suggests that increased token burns, upcoming updates in the Shiba Inu ecosystem, and the growing excitement among community members could potentially trigger substantial gains for the meme coin in 2025. What’s Next For The SHIB Price? ‘Shib Spain,’ a popular SHIB supporter on X, has predicted that a massive pump could be on the horizon for the meme coin. The analyst connects Ethereum’s price action with Shiba Inu’s, sharing a detailed chart that showed instances when ETH experienced a price reversal and underwent a significant rally. Although the meme coin was not indicated on the chart, the analyst’s mention likely ties his projected SHIB price pump to an increase in ETH. This suggests that if Ethereum experiences a price surge, altcoins like Shiba Inu could follow suit, potentially sparking a significant uptrend. Featured image from Unsplash, chart from Tradingview.com
The Dogecoin and Shiba Inu prices are surging today, recording significant gains in the process. This price surge for the foremost meme coins came following a recent development on the macro side, which provided some relief for the crypto market. Why The Dogecoin And Shiba Inu Prices Are Surging CoinMarketCap data shows that the Dogecoin […]
Recent technical analysis suggests that the Shiba Inu price may be preparing for a bullish rally, as the second-largest meme coin shows signs of a recovery from a correction phase. With key support levels established, a crypto analyst has projected a new bullish price target for Shiba Inu (SHIB). Shiba Inu Price Targets $0.000033 And Beyond On Tuesday, a TradingView crypto analyst, known as the ‘Real_CryptoRoy’, declared that Shiba Inu is getting ”ready to fly,” highlighting its potential for a significant price recovery to new highs. The analyst believes that Shiba Inu’s first major milestone for 2025 will be a climb above $0.000025, a critical level that would confirm its bullish position. Related Reading: PEPE Marks Bottom After Scary Market Crash, Enters Wave 3 With Over 500% Promise If this crucial price point is reclaimed, the TradingView analyst suggests it could set the stage for Shiba Inu to retest a new resistance zone at $0.000033. This critical price level is one of Shiba Inu’s recent highs, achieved during a period of explosive growth and heightened demand. The TradingView crypto expert shared a price chart, highlighting that a break of the aforementioned resistance level, accompanied by strong trading volume, could pave the way for future gains and a larger bullish trend that could push Shiba Inu to new price highs. While he maintains a confident stance on his bullish outlook for Shiba Inu, the analyst has also highlighted the influence of Bitcoin’s price action and dominance on Shiba Inu’s performance. For instance, if Bitcoin remains stable or bullish, it could create favorable conditions for Shiba Inu and other altcoins to rally. Conversely, if Bitcoin turns bearish, Shiba Inu could also experience price declines and volatility. For mid-term investors, the current price near $0.00002 may present an opportunity to accumulate Shiba Inu at a low cost while watching its movements closely. The analyst has also highlighted the importance of key resistance and support levels, forecasting that Shiba Inu is preparing for a significant recovery. SHIB Finds Support Amidst Correction While sharing his bullish forecast for Shiba Inu, the ‘Real_CryptoRoy’ disclosed that the meme coin is currently in a correction phase after crashing 35% from its local high of $0.000033 and consolidating above $0.00002. Related Reading: Analyst Says Dogecoin Has Entered Another Bull Cycle, Puts Price Above $20 The TradingView analyst revealed that the $0.00002 level was a crucial support zone for Shiba Inucrucial support zone for Shiba Inu, which the meme coin has tested twice. Typically, when a cryptocurrency successfully tests a support level multiple times, it indicates that buyers are stepping in to defend this level and prevent further drawbacks. This support zone, highlighted by the orange circles on the analyst’s chart, signals a potential local bottom for Shiba Inu. The TradingView crypto expert has noted that Shiba Inu’s present correction phase could present an attractive buying opportunity for investors who aim to capitalize on low prices and potential upward movement. The analyst also pointed out that Shiba Inu’s price performance on the previous day was noteworthy, as it avoided falling below its prior low. Instead, the meme coin established a “higher low”, indicating that selling pressures may be waning and its correction could be nearing its end. Featured image created with Dall.E, chart from Tradingview.com
The Shiba Inu and Dogecoin prices have suffered double-digit losses today, having started the week on a positive note. This price drop has occurred thanks to macroeconomic factors, which present a bearish outlook for these coins. Why The Shiba Inu And Dogecoin Prices Crashed Today CoinMarketCap data shows that the Shiba Inu and Dogecoin prices […]
The Dogecoin and Shiba Inu prices have surged significantly today, providing optimism for investors. This development is thanks to several factors that paint a bullish picture for the foremost meme coins. Why The Dogecoin And Shiba Inu Prices Are Up CoinMarketCap data shows that the Dogecoin and Shiba Inu prices are up over 14% and […]
Shiba Inu Inc. has officially announced the introduction of its final ecosystem token, TREAT, slated for launch in January 2025. This addition expands the Shiba Inu ecosystem, which currently comprises SHIB, BONE, and LEASH, positioning TREAT as a pivotal component in the network’s rewards and governance mechanisms. Shiba Inu’s Fourth Token Will Launch In January […]
Technical analysis shows that Shiba Inu is currently at a critical juncture where it could either rebound to new multi-year highs or face declines to retest a few support levels. In light of this, a recent analysis on TradingView has highlighted crucial support and resistance levels that could dictate SHIB’s short-term movements. This analysis was made on the daily candlestick timeframe chart of SHIB against Tether (USDT), which reveals the potential for a substantial rally toward $0.000045 if key resistance levels are broken. Major Support And Resistance Levels For Shiba Inu According to the analysis, two significant resistance levels are important in SHIB’s path to the upside. The first is at $0.00003239 and represents an immediate hurdle that could attract sellers or trigger profit-taking. This is more revealing, considering it acted as resistance in December 2024. A decisive move above this level would signal bullish momentum. Related Reading: Bitcoin Bearish Flag Pattern Says Crash Is Far From Over Despite Crash To $91,000 The second resistance level is at $0.00004563 and is considered a psychologically significant barrier that might test the strength of market optimism. This is because this price level serves as the peak of Shiba Inu’s price movement in early 2024. If the bulls were to complete a successful move above $0.00004563, it could signal a move that would push Shiba Inu to challenge its current all-time high. On the downside, there are also two critical support levels that could prevent further SHIB price declines. The first notable support is at $0.00001035. Shiba Inu rebounded quite a few times on the upper end of this support zone in 2024, with the most notable bounce taking place on August 5. Historically, this level has demonstrated strong buy interest, making it a potential floor for the current trend. However, if the price fails to hold above this critical support level, the situation could shift significantly. A break below $0.00001035 would likely diminish buyer confidence, paving the way for SHIB to test even lower levels of support. Technical Indicators And SHIB Trading Strategy The analysis notes that key indicators, such as the MACD and RSI, currently suggest a neutral to slightly bearish sentiment for Shiba Inu. The MACD is flat with minimal momentum, while the RSI hovers near 40, slightly below the midpoint. These indicators, coupled with subdued trading volume, suggest that traders are awaiting a decisive breakout or break below the Shiba Inu price. Related Reading: XRP Price Forms Descending Triangle On The Daily Chart, Why $1.95 Is Important For bullish traders, a stable upward move at this point could point to a target at $0.00003239 in the short term, with $0.00004563 as a longer-term goal. Conversely, a break below $0.00001035 could reinforce a bearish scenario. At the time of writing, Shiba Inu is trading at $0.00002239 and is up by 8% in the past 24 hours. According to a similar support level analysis by crypto analyst Ali Martinez, the $0.0000215 to $0.0000193 support zone must hold in order for Shiba Inu to stay bullish. Featured image created with Dall.E, chart from Tradingview.com
In an ongoing series of X updates, Shytoshi Kusama—widely known as the lead developer behind the Shiba Inu (SHIB) project—has shared significant insights into the upcoming launch of TREAT, the fourth and last official token in the Shiba Inu ecosystem. With SHIB: The Metaverse having opened its early access phase on December 25, Kusama’s recent […]
The Dogecoin and Shiba Inu prices have crashed in the last 24 hours as the broader crypto market correction continues. This price crash is due to several developments, including the holiday season, with several traders choosing to stay out of the market during this period. Why The Dogecoin And Shiba Inu Prices Crashed CoinMarketCap data […]
Shiba Inu (SHIB), one of the most talked-about meme coins in the cryptocurrency space, has seen a notable surge in whale activity in the past 24 hours. Particularly, data from on-chain analytics platform IntoTheBlock reveals a 265% increase in whale transactions within the past 24 hours. Interestingly, this surge in whale activity is more notable […]
The Shiba Inu price has crashed below $0.000022, declining by more than 20% in just one week. This massive crash has left 43% of SHIB investors facing losses. Moreover, the recent drop in the Shiba Inu price comes alongside a broader meme coin market decline, with top coins like Dogecoin, Pepe, and Bonk also experiencing […]
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
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 […]
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), 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, […]
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
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, […]
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
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.
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
Shytoshi Kusama, the lead developer of Shiba Inu, publicly mocked Charles Hoskinson, the founder of Cardano, over his alleged relations with the incoming Trump administration on crypto policy. The tension unfolded over X, drawing significant attention from the crypto community. As reported earlier, Charles Hoskinson has expressed plans to engage with lawmakers to foster clear […]
The rivalry between Shiba Inu (SHIB) and Dogecoin (DOGE) continues to rage, making headlines and becoming a top discussion among crypto community members. Recently, Investment firm Sistine Research unveiled a Shiba Inu chart analysis, which suggests that SHIB might be poised to outperform DOGE in 2025. The chart analysis points to a possible increase in […]
The Shiba Inu price has closely followed Dogecoin, considering that the two are the largest meme coins by market cap. This has led to talks of what SHIB’s price would be if it reached Dogecoin’s market cap. What The Shiba Inu Price Will Be If It Reaches Dogecoin’s Market Cap MarketCapOf data shows that the […]
Shiba Inu (SHIB) recently witnessed a significant increase in its burn rate, surging 3,674% on U.S. presidential election day. Interestingly, this spike has come amid reignited interest in the SHIB price. This surge in activity cuts across the wider industry as traders look to capitalize on the election dynamics. Aside from Shiba Inu, Dogecoin has also witnessed a surge in trading activity and volume, and it is left to wonder if SHIB will rally alongside the Dogecoin price and reach new all-time highs. Shiba Inu Burn Rate Soars The burn rate of Shiba Inu is a measure of how much SHIB is permanently removed from circulation by sending it to inactive wallets. This controlled reduction of supply is intended to create scarcity, thereby potentially boosting SHIB’s price. Related Reading: Analyst Reveals What The Gold Chart Says About The Possibility Of Bitcoin Price Reaching $100,000 According to data from Shibburn.com, SHIB’s burn rate jumped by over 3,674% as voters trooped to vote in the US, an unexpected surge that points to a coordinated effort by the SHIB community. Particularly, Shibburn highlighted that over 53.3 million SHIB tokens were burned in the past 24 hours alone. Interestingly, a further look into the data shows that over 28.8 million SHIB tokens were burned in a single transaction. This uptick in SHIB burns has paralleled a notable increase in its market value, with SHIB climbing as high as 10% in the past 24 hours. This allowed SHIB to go on successive breaks above the $0.000017, $0.000018, $0.000019, and $0.000020 in rapid succession. Despite the notable Shiba Inu price uptick, its meme coin counterpart, Dogecoin, has witnessed more gains. Particularly, Dogecoin is up by about 20% in the last 24 hours, having recently crossed above $0.2 again for the first time since April 2024. Can SHIB Continue To Surge Alongside Dogecoin? Historically, both Shiba Inu and Dogecoin have seen simultaneous price movements, particularly when interest in one coin flows into higher trading volumes for the other. SHIB’s recent burn rate spike adds fuel to the debate over which token might lead in upcoming rallies, especially with DOGE seeing a sustained rise in interest. Related Reading: Dogecoin Price Marks Local Bottom, Can Price Run 100% From Here Again? However, as both SHIB and DOGE continue to experience heightened trading activity, both cryptocurrencies are expected to continue on the upswing for the rest of the month. As such, we could see SHIB creating a new 2024 high alongside Dogecoin in November, before both eventually go to challenge their all-time highs. Both SHIB and DOGE have seen slight pullbacks after their recent rallies, likely due to profit-taking as some holders lock in gains before the next possible upswing. At the time of writing, SHIB has found support at $0.0000183, currently trading around $0.0000188, while Dogecoin is holding steady at $0.197 Featured image created with Dall.E, chart from Tradingview.com