Despite experiencing steep price declines in the past few weeks, popular Shiba Inu marketing team member, Lucie, has remained optimistic about SHIB’s price fundamentals, stating that the cryptocurrency is still on track for a supercycle. SHIB Set For A Major Bullish Cycle On Wednesday, April 17, Lucie took to X (formerly Twitter) to shed light […]
Bitcoin price descends to new lows, dragging altcoins down with it just days before the long-awaited BTC supply halving.
The price of Bitcoin has grown 54% since the start of 2024, and only six altcoins from the top 50 have done any better.
The meme coins sector of the crypto market is taking a big hit amidst a wider price decline in the industry. Recent lackluster price action has seen most cryptocurrencies struggling to maintain bullish price action for the majority of last week. This price decline has now been exacerbated with the latest escalation of tensions in […]
Bitcoin's correction deepened as BTC price fell to $65,000, and altcoins were hit with double-digit losses.
The Shiba Inu ecosystem has hit another remarkable milestone, surpassing four million total addresses on its network. This achievement comes amidst fluctuations in the cryptocurrency’s price and a string of sharp declines that have pushed its value below market expectations. Shiba Inu Total Addresses Hit 4 Million The total number of addresses on Shiba Inu […]
Shiba Inu saw a lull in its burn rate last week, which coincided with the decline in the price of the meme coin. During this time, the number of tokens being burned on a daily basis dropped tremendously, causing the burn rate to suffer. However, as this week draws to a close, there has been […]
The entirety of the crypto market is experiencing a bloodbath right now after the Bitcoin price dumped below $70,000 and Dogecoin and Shiba Inu are not left out. Both meme coins have seen their values tumble by at least 5% in the last day alone, leaving investors to wonder what could be behind this price […]
Shiba Inu (SHIB) could be on the brink of a price recovery following a bullish reversal in critical on-chain metrics. This also includes the burn rate, with a recent development showing a sustained increase in the number of SHIB tokens burned. Shiba Inu Demand Looks To Be On The Rise There has been an increase in Shiba Inu whale activity these past few days. On-chain data shows the transfer of 1.7 trillion SHIB to a Robinhood-linked wallet. Transferring such an amount to a centralized exchange will usually raise fears about an incoming dump on the market, but that doesn’t look to be the case this time around. Related Reading: Expert Maps Out Timeline For The XRP Price To Cross $1,000 Instead, Robinhood looks to be accumulating as many SHIB tokens as possible to meet customers’ demand. This also seems to be the case with Binance, the largest crypto exchange by market share, which recently transferred over 464 billion SHIB from one of its wallets to another. These large transactions also come at a time when Bitcoinist recently reported a Shiba Inu whale that spent $19 million to purchase 692 billion SHIB. This whale in question also looks to be holding for the long term as they immediately transferred their SHIB holdings to a non-custodial wallet for safekeeping. The increase in whale activity presents a bullish outlook for the Shiba Inu ecosystem, which could aid the meme coin’s price recovery. SHIB had previously experienced a price dip thanks in part to multiple on-chain metrics, which turned red last week. One of those metrics included the number of large transactions on the network, which Bitcoinist reported had declined by over 10%. Shiba Inu’s Burn Rate Increases By Over 1,200% Data from the burn tracking website Shibburn shows that SHIB’s burn rate has surged by 1287% in the last 24 hours, with 135 million tokens burnt during this period. Furthermore, there has been a sustained increase in these SHIB burns, with the burn rate rising by 129% in the last seven days. Related Reading: Skybridge CEO Says Bitcoin Can Reach Half Of Gold Market, How Much Will BTC Be? This is significant considering these token burns’ impact on SHIB’s price. The sustained increase in the SHIB burns is also undoubtedly a welcome development, considering the decline these past few weeks. Interestingly, the SHIB community has pulled this off while Shibarium’s daily transactions continue to lag. However, activity on the layer-2 network is expected to pick up soon as the Shiba Inu team actively promotes it. Decentralized Exchange (DEX) WoofSwap also recently announced that they have introduced the SHIB -314 token protocol on Shibarium, which could also help drive up the number of transactions on the network. At the time of writing, SHIB is trading at around $0.00002884, up in the last 24 hours according to data from CoinMarketCap. SHIB price holding $0.000028 | Source: SHIBUSDT on Tradingview.com Featured image from Finbold, chart from Tradingview.com
Since reaching its peak for the year at $0.00004749 over a month ago, on March 5, the price of Shiba Inu (SHIB) has fallen by approximately 40%. Nonetheless, there may be brighter days ahead. Following a meteoric rise of 390% in just eight days from the end of February till the beginning of March, a period of consolidation was inevitable for the SHIB price. However, this phase could be drawing to a close. Shiba Inu Price About To Surge 65%? On the daily chart, the meme coin is exhibiting a critical chart pattern that suggests a significant price movement may be imminent. The analysis of the daily SHIB/USD chart reveals the emergence of a symmetrical triangle pattern. This classic chart pattern is generally considered a continuation pattern, typically heralding an uptick in volatility. Given that SHIB has been on a notably strong uptrend, the momentum could swing back in favor of the bulls. Over the past five weeks, the price of SHIB has been making a series of lower highs and higher lows, which is evident from the converging trend lines that are containing the price action. The apex of the triangle is fast approaching, suggesting that a breakout is imminent. This type of consolidation suggests market indecision, and as the pattern reaches its conclusion, we can expect a significant move in either direction. Related Reading: Crypto Analyst Predicts Shiba Inu Price To Rise 5000% To $0.001 – Here’s When The current price at the time of the analysis is $0.00002842. Notably, the volume has been declining as the pattern developed, which is typical during the formation of a symmetrical triangle and further validates the pattern. Exponential Moving Averages (EMAs) also paint a crucial picture. The 20-day EMA is flatlining, suggesting a neutral short-term trend, while the 50, 100, and 200-day EMAs are all trending upward, providing strong support levels. Particularly, the price is currently above the 20-day EMA, which is positioned at approximately $0.00002817, and this level could act as a strong support in the near term. The Relative Strength Index (RSI) is hovering near the 52.40 level, which is slightly above the midpoint of 50 that separates bullish momentum from bearish momentum. The RSI level indicates a neutral stance in the market momentum but leaves room for an upward push should the market sentiment sway positively. Related Reading: Shiba Inu Fires Up With 4,000% Burn – Price Rebound Coming? In terms of deriving price targets from this pattern, technical analysts typically measure the height of the triangle at its widest part and project that distance from the point of breakout. If SHIB breaks above the triangle, the price could surge, targeting the height of the triangle, which could be in the region of the yearly high at approximately $0.000048, considering the widest part of the pattern. This would translate into a 65% price rally from the current price. Conversely, a downward breakout could send the price to test the $0.00001500 level, which would be the equivalent target on the downside. It is important to mention that while symmetrical triangles can lead to a substantial breakout, the direction is not certain until a clear breakout occurs with an accompanying increase in volume. Traders and investors need to watch for a daily close outside of the triangle’s boundaries, with increased volume, to confirm the direction of the breakout. Featured image created with DALL·E, chart from TradingView.com
Shiba Inu experienced a lull in its rally over the past few weeks, causing investor interest to decline in the asset. However, this is beginning to change as investors, especially whales, are back to filling up their bags once again. The most notable of these buys is a whale who bought 692 trillion SHIB from […]
Shiba Inu (SHIB) is at risk of further price declines based on several on-chain metrics, signaling a bearish sentiment in the ecosystem. This could no doubt present a setback for the meme coin, which is showing signs of recovery following a significant price correction. Shiba Inu Network Growth Is On The Decline According to data […]
The Shiba Inu burn rate has turned negative after a rather good week of momentum. This downturn in the burn rate is a deviation from the established trend this week and could have something to do with the decline in the SHIB price during this time. Shiba Inu Burn Rate Drops 28% The burn rate […]
Bitcoin is likely to remain range-bound for a few days as the bulls and the bears battle it out for supremacy before the halving.
Crypto analyst Altcoin Sherpa recently mentioned that Shiba Inu (SHIB) could still flip Dogecoin (DOGE) as the largest meme coin by market cap. His statement comes at a time when SHIB’s fundamentals are showing strength, with the token’s burn rate increasing significantly in the last 24 hours. Shiba Inu To Have “Some Moments” Where It […]
The price of Shiba Inu has been predicted to experience a major increase amidst the 2024 bull market that has propelled various meme coins to new all-time highs. This forecast puts the spotlight on the doggy-themed cryptocurrency, highlighting a potential for more increases in its price value. SHIB Expected To Rise In April Machine learning […]
Shiba Inu (SHIB) has dipped below $0.00003 again after testing the price level for more than 48 hours. Despite this, the cryptocurrency has largely exhibited signs of resilience from the bulls after its strong price surge in early March, prompting analysts to persist on a bullish outlook. According to a crypto analyst known as Xanrox, […]
Recent reports have indicated an alarming increase in scam attacks targeting Shiba Inu community members, aiming to exploit the community’s enthusiasm for fraudulent purposes. The latest wave of these malicious acts has specifically focused on investors of Shiba Inu’s newest ecosystem token, K9 Finance (KNINE). SHIB Scam Alerts On The Rise Shibarmy Scam Alerts, a […]
Shiba Inu (SHIB) whales are at it again, with large transactions involving the meme coin recorded lately. These high-volume transactions have piqued the interest of other investors, who have deliberated on whether this could be the perfect opportunity to accumulate the meme coin. Shiba Inu Whale Transfers 2 Trillion SHIB Tokens On-chain analytics platform Whale […]
Dogecoin and Shiba Inu are trending higher than they were a year ago, but they are still a long way from their 2021 all-time high prices. While they both feature prominently in the top 20 cryptocurrencies by market cap, they are still far below the market cap of Ethereum, the second-largest cryptocurrency by market cap. […]
Shiba Inu (SHIB) lead developer, Shytoshi Kusama, recently told Ethereum’s co-founder Vitalik Buterin that he should expect more improvement from the SHIB ecosystem soon. This comes in response to Vitalik’s comment in which he praised the meme coin. More To Come From SHIB Kusama responded to Vitalik in an X (formerly Twitter) post, in which […]
Bitcoin is looking positive, but the up move is likely to face stiff resistance above $72,000.
Shiba Inu (SHIB) whales look to be at it again following large transactions involving the meme token in the last 24 hours. As expected, these transactions have raised concerns that crypto investors might be looking to offload their tokens on the market. Shiba Inu Whales Move Billions Of SHIB On-chain data shows that Shiba Inu […]
Shiba Inu (SHIB), the self-proclaimed “Dogecoin Killer,” is back in the spotlight with a surge in both search interest and token price. Google Trends data reveals a global increase in searches for “Shiba Inu” and related queries, indicating renewed investor optimism for the meme coin. Related Reading: Fantom (FTM) Bull Run: Can FTM Hit $2 After 20% Price Spike? Shiba Inu Surge Sparks Enthusiasm This increase comes after a quiet period for the memecoin. However, the past month has been nothing short of phenomenal. Search popularity reached a seven-day peak of 100 on March 16th, though it has settled at a still-healthy 48 – significantly higher than January’s levels. Phrases like “Why is Shiba Inu going up?” and “Shiba Inu All-Time High” have also seen a significant uptick, reflecting investor curiosity and potential buying interest. While the interest is global, specific regions are leading the charge. Pakistan, the Netherlands, Slovenia, Canada, and Nigeria have emerged as the top search originators for SHIB in the past week. This geographically diverse interest suggests a broad-based appeal for the meme coin. Source: Google Trends This renewed interest coincides with a remarkable price rally. SHIB’s value has skyrocketed over 180% in the past month, reaching a two-year high of $0.000045. This bullish run fueled speculation of a retest of its all-time high above $0.000088. However, the market has since witnessed a correction, bringing SHIB’s price down slightly. Despite the correction, the enthusiasm within the Shiba Inu community remains high. The long-term goal of reaching $0.01 per SHIB token continues to be a hot topic, although analysts caution it might take several years to materialize. Bitcoin is now trading at $66.780. Chart: TradingView Shibarium And Market Recovery To achieve this ambitious target, the developers are focusing on Shibarium, the project’s Layer-2 scaling solution. Shibarium aims to become a thriving smart contract hub, potentially attracting more users and driving up demand for SHIB. Experts believe several factors are contributing to the current Shiba Inu frenzy. The broader cryptocurrency market has shown signs of recovery after a recent slump, potentially boosting investor confidence in meme coins like SHIB. Additionally, ongoing developments within the Shiba Inu ecosystem, such as Shibarium and the burning initiatives to reduce the overall token supply, might be fueling investor optimism. Related Reading: Eyes On Toncoin: Speculation Rises After 40% Weekly Surge – What Comes Next? Whether SHIB can maintain its current momentum and reach its long-term price goals remains to be seen. However, the recent surge in search interest and price rally is a clear indication that the “Dogecoin Killer” is back in the game, attempting to capture the hearts (and wallets) of memecoin enthusiasts worldwide. Featured image from Pexels, chart from TradingView
The Shiba Inu (SHIB) team recently released the latest edition of ’The Shib’ magazine. As expected, it features exciting updates from the team on milestones achieved in their quest to grow the ecosystem. Shiba Inu’s Partnership With Binance Pay The Shiba Inu team drew the SHIB community’s attention to the fact that the SHIB token […]
Current market dynamics have seen Shiba Inu (SHIB) shedding off a lot of its gains earlier in the month. SHIB kickstarted a price surge on February 29th at $0.00001178 to reach $0.00004456 for the first time since December 2021, representing a surge of over 278% in the space of three days. However, it seems investors are now pulling away from the meme cryptocurrency, and the bull frantic earlier in the month seems to be disappearing. Interestingly, on-chain data indicates that a chunk of over 23 trillion SHIB has moved from the hands of long-term holders into the wallets of short-term holders in the past four days. This cohort of addresses is known to hold their SHIB tokens for quick returns instead of holding them long-term. Shiba Inu Price Downtrend Expected to Extend Beyond 45% SHIB has been on a general downtrend since March 5 with the formation of lower highs in cases of brief uptrends. Notably, the crypto has dropped by 46% since attaining this two-year high. At the time of writing, SHIB is trading at $0.000024, down by 4.79% and 27% in the past 24 hours and seven days, respectively. Related Reading: Is Ripple Behind The XRP Price Crash? Massive Selling Spree Sparks Concern According to data from IntoTheBlock, Short-term Shiba Inu owners have now increased their possession by 23 trillion SHIB in the past four days, signaling lower prices ahead. According to ITB’s “Balance by Time Held” metric, the balance held by traders holding for less than a month has increased by 385% in the last 30 days. At the same time, long-term holders (more than a year) and cruisers (holding for one to 12 months) have reduced their balance by 9.27% and 11.30%, respectively. This interesting movement demonstrates the current dynamic among the various cohorts of SHIB traders. The decrease in long-term holder balance indicates they might be taking profit after holding for so long. At the same time, so much of the supply is moving into the hands of short-term traders seeking quick profits, making SHIB vulnerable to continued selloffs. Technical Analysis: What’s Next For SHIB’s Price? The overall technical indicators for SHIB point to short-term correction unless there is a change in bullish sentiment. The meme token has now broken below support at the $0.000026 price level and is now moving towards $0.000023, a level that has acted as a major resistance earlier in the month. Related Reading: Crypto Report Says ‘Alameda Gap’ Is Gone After Bitcoin Rally, What This Means On the other hand, several fundamental factors point to a potential price recovery and continued growth for the meme coin. Despite its recent correction, the price of SHIB is still up by 144% in the past 30 days, which shows the uptrend can resume anytime soon. SHIB price rallies to $0.000026 | Source: SHIBUSDT on Tradingview.com Featured image from The Market Periodical, chart from Tradingview.com
The Shiba Inu price has seen a massive drawdown in the last day as the Bitcoin price lost its support at $65,000. As a result, the SHIB price is down more than 10% in a single day, with what is arguably one of the worst crypto trading days in crypto so far this year. But what […]
The Shiba Inu open interest has hit a snag after a particularly good run. The open interest had risen quickly alongside the price of the meme coin, which climbed close to its previous all-time high earlier in March. However, the cryptocurrency has been unable to maintain this uptrend, leading to a significant drop in the open interest. Shiba Inu Open Interest Sees Over 40% Decline According to data from Coinglass, the Shiba Inu open interest had hit a new two-year high on March 6 when its price crossed over the $0.000032 threshold. Since then, however, it has been on a decline, seeing a near-constant decline each day since. Related Reading: Bernstein Analysts Convinced Bitcoin Is Headed For $150,000, Here’s Why By Monday, March 18, the Shiba Inu open interest had dropped from its $135 million all-time high to just $80 million. This decline translates to an over 40% decrease in the space of two weeks. At the same time, the price of the meme coin has followed the same trend and has dropped from its yearly highs above $0.00004 to $0.000028 at the time of writing. Now, the open interest for any cryptocurrency is important because it serves as a measure of the total interest in that asset at any given time. It basically shows the total number of all futures and/or options contracts for a particular asset. So in this case, it shows the amount of money invested in SHIB derivative products at any time. Given this, an increase in the open interest can be bullish for a cryptocurrency such as Shiba Inu, while a decrease can be bearish. This is because, the lower the open interest, the less money is being put into that particular asset, thereby decreasing the demand. So this could negatively affect the price. Will SHIB Price Continue To Decline? As seen historically, a decline in open interest has often coincided with a decline in price. As such, the present decline being experienced by Shiba Inu could spell bad news for its price going forward. The effect is already being felt with the price of SHIB dropping significantly over the weekend, although it has started to recover as the new week opens up. Related Reading: Crypto Pundit Says God Candle Is Imminent For This Solana-Based Meme Coin To get an idea of where the price might be headed next, we can take a look at the last time that the Shiba Inu open interest was this high, back in 2021. The open interest had reached its current all-time high in October 2021, but after peaking, both the open interest and the SHIB price would suffer tremendously. Over the course of the next few months, the SHIB price would fall more than 50%, following the same trend as the open interest. If this trend were to continue this time around, then the SHIB price may be headed for a price crash. However, 2021 marked the end of the bull market, while the current bull cycle is only in the beginning stages. In this case, there is more demand, which would mean there is more of a cushion to mitigate a price crash. SHIB price drops to $0.00002783 | Source: SHIBUSDT on Tradingview.com Featured image from Bitcoin News, chart from Tradingview.com
Cryptocurrency markets witnessed seismic activity as Whale Alert, a leading service tracking large crypto transactions, reported a monumental transfer of Shiba Inu (SHIB) tokens. A staggering 1 trillion SHIB, equivalent to $28,814,000, was observed in transit from an undisclosed wallet to the portals of Gate.io, a major cryptocurrency exchange. Related Reading: Shiba Inu Partner Token […]
The prices of both Shiba Inu and Dogecoin fell double-digits on Friday after Bitcoin dropped below $67,000. This decline has seen both meme coins lose their gains for the last few days, triggering losses for investors and traders alike. But what was the cause of the crash? Dogecoin, Shiba Inu Follow Bitcoin The price eras […]