Renewed investor optimism and interest in Shiba Inu (SHIB) has emerged despite market volatility. This is due to a remarkable 4,100% surge in its burn rate within just 24 hours, resulting in the removal of nearly 21.7 million SHIB tokens from circulation. The cryptocurrency is once again capturing attention in the digital asset space as this extraordinary increase highlights its significant combustion rate. Related Reading: Bitcoin As The New S&P 500 Of Our Time? This CEO Thinks So A Closer Examination Of The Burn Rate The burn rate is an essential metric for Shiba Inu, as it indicates the quantity of tokens that are irrevocably removed from circulation. The purpose of this standard procedure is to establish scarcity, which has the potential to increase the value of the remaining tokens. The most recent surge was predominantly driven by a single transaction, which resulted in the burning of nearly 21 million tokens in a single instance. A reduction in supply of this magnitude can have a beneficial effect on investor confidence and market sentiment. HOURLY SHIB UPDATE$SHIB Price: $0.00002372 (1hr -0.06% ▼ | 24hr -2.13% ▼ ) Market Cap: $13,977,981,987 (-1.97% ▼) Total Supply: 589,257,014,659,157 TOKENS BURNT Past 24Hrs: 21,709,094 (4100.35% ▲) Past 7 Days: 104,230,574 (86.58% ▲) — Shibburn (@shibburn) January 8, 2025 Still, it’s important to recognize that SHIB’s price did not line up with the notable rise in burn rate. Actually, SHIB’s price dropped 11% over this period, coming out to roughly $0.00002168. This decline in the market value of the meme coin was a result of a larger trend influencing the whole digital currency market that saw over $711 million in liquidations among other assets. Shiba Inu: Whale Activity Increases Interestingly, there have been a lot more whales in the Shiba Inu environment at the same time that the burn rate has gone up. Over 2,000% more transactions involving substantial holders happened, resulting in the exchange of around $750 million in SHIB in a 24-hr period. This rise means that big buyers are either buying more tokens or giving them to other people in response to changes in the market. Future Prospects And Market Sentiment Many members of the Shiba Inu community are optimistic about the future of the coin, despite the present price decrease. The substantial incineration rate is perceived as a proactive measure to increase scarcity and potentially result in price appreciation in the future. Investor sentiment can be unpredictable; however, community members frequently gain confidence in the project’s long-term viability when they witness significant fires. Related Reading: Bitcoin Dominance Fuels $585 Million Crypto ETP Inflows In 2025 The recent increase in the Shiba Inu’s combustion rate stimulates optimism about its future potential; nonetheless, market realities are complex. The simultaneous price fall and macroeconomic factors that lead to market volatility serve as a reminder to investors to be cautious. In the world of cryptocurrencies, volatility are unavoidable, and monitoring both whale activity and burn rates will be critical in determining SHIB’s likely future path. Featured image from Marca, chart from TradingView
Shiba Inu finds itself at a critical juncture as bearish momentum intensifies, putting key support levels to the test. With the $0.00002045 mark under pressure, the token’s ability to maintain this level could be decisive in shaping its short-term outlook. A breach of this critical support may pave the way for further declines, raising concerns about the meme coin’s future direction. The ongoing battle between bulls and bears highlights the uncertainty surrounding SHIB’s price action. While bulls aim to defend the support and stage a comeback, bears are determined to push prices lower. This pivotal moment will likely determine whether SHIB can stabilize and regain its footing or face a deeper correction in the days ahead. SHIB’s Recent Price Action: A Closer Look SHIB‘s recent price action has been marked by significant volatility, as the cryptocurrency faces mounting bearish pressure while simultaneously testing crucial support levels. After a period of upward movement, Shiba Inu has encountered resistance and is now battling to maintain its position above key price points, including the pivotal $0.00002045 support level. This ongoing struggle between the bulls and bears highlights the indecisiveness in the market, with both sides attempting to assert dominance. Related Reading: Shiba Inu Builds Momentum: ‘Monster’ Price Move Coming—Analyst A closer look at SHIB’s chart reveals a series of lower highs and lower lows, indicating the potential for more downside if the support level at $0.00002045 fails to hold. The pressure from the bears is growing, as evidenced by recent price declines and a sustained lack of bullish momentum. Despite this, there are occasional signs of consolidation near key support zones, suggesting that buyers may be waiting for an opportunity to step back in and prevent a full-scale breakdown. Technical indicators, such as the Relative Strength Index (RSI) and moving averages, also provide further context to Shiba Inu’s price action. The RSI has shown oversold conditions during recent declines, signaling the possibility of a rebound. However, such moves may be short-lived without sustained buying interest. As SHIB tests its support, the market’s next moves will depend on whether bulls can regain control or if the bearish momentum will continue to drive prices lower. A Bounce Or Breakdown For Shiba Inu? In the upside scenario, SHIB could find support at key levels, particularly the $0.00002045 zone, and experience a resurgence of buying interest, potentially sparking a recovery toward higher resistance levels such as $0.00002631 and $0.00002960. A successful rebound from this support would signal that the bulls are active, creating the foundation for further upside movement. Related Reading: Shiba Inu 260% Rally: Analyst Sees Classic Bullish Patterns Emerging Alternatively, if Shiba Inu fails to hold the $0.00002045 support level, a breakdown might lead to extended declines, with the next support zone potentially coming into focus. In this case, the bears would solidify their control, and SHIB may face a prolonged period of downward price action. Featured image from Adobe Stock, 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 […]
Shiba Inu (SHIB) appears to be laying the groundwork for a big rally, as market observers focus on a potential vertical surge. The popular meme coin, which has often piqued investor interest, appears to be set for a “monster” climb toward $0.000066651. Related Reading: Dogecoin To Hit $1? Expert Calls It A Realistic Goal For 2025 – Here’s Why Positive Trends Amid Market Uncertainty Shiba Inu’s current pricing behavior indicates a steady rebound in momentum. After weeks of sluggish activity, the token’s upward trend has fueled confidence. Analysts are keeping a careful eye on important technical signs that indicate SHIB may be ready to exit its consolidation phase. Increased trade volumes and strengthened support levels indicate that investor confidence is growing. Positive mood in the broader crypto landscape supports CoinMarketCap data indicating the coin is gaining more traction. Major developments in Bitcoin and Ethereum have set off a chain reaction that has elevated the appeal of SHIB and other cryptocurrencies. On X, an analyst identified as “Strong” noted a likely cup-and-handle formation in SHIB’s weekly chart that suggested possible consolidation before to an upward breakthrough. Based on past resistance levels, they estimated a post-breakout goal of $0.000066 suggesting great optimistic possibilities. $SHIB Shib will do what it does, “slowly then all at once” a monster vertical move HTF chart looks super bullish: – a catch up play to $DOGE – largest erc token on $ETH – soon a break out of a 4y down trend A bullish $SHIB is good for risk on crypto It’s almost time pic.twitter.com/ofzM4fEXhr — $trong (@StrongHedge) January 5, 2025 Emphasizing SHIB’s ranking as the biggest ERC-20 token on Ethereum, the research also positioned SHIB as a “catch-up play” for Dogecoin. Furthermore, SHIB is apparently approaching a breakout from a four-year declining trend, which supports its attraction to traders expecting a substantial price increase. Technical Signs Point To A Breakthrough The likelihood that Shiba Inu will achieve its estimated goal of $0.000066 is determined in part by technical and commercial variables. While the coin has been trading in a long-term symmetrical triangle, it is typically associated with potential bullish breakouts. Prominent experts and other cryptocurrency enthusiasts on social media have emphasized this circumstance as a motivating factor for SHIB’s upcoming actions. Recent studies underlined the need of maintaining important resistance values. Should SHIB keep following its current rising path, holders could find big increases in the next weeks. Moreover, the introduction of Shibarium, Shiba Inu’s Layer-2 solution, has piqued attention on the general value of the ecosystem. Related Reading: Bitcoin Target Locked: Metaplanet Eyes 10,000 BTC This Year Market Mood Improves Shiba Inu Projection Beyond mere technical concerns, the prevailing attitude in the crypto space supports SHIB’s promise. Social engagement metrics have climbed; Shiba Inu mentions on websites like Twitter have peaked several months ago. Furthermore, increased speculation about important events in the ecosystem, such as new coin listings and partnerships, has kept the token in the spotlight. However, analysts warn against being overly optimistic. Shiba Inu price swings, like those of any other speculative asset, are characterized by volatility. Investors should approach this rise with a balanced mindset and keep an eye out for market changes. At the time of writing, SHIB is trading at $0.000002414, up slightly in the last 24 hours. Whether it can meet its ambitious $0.000066651 aim is determined by a combination of technical and market variables. Featured image from DogTime, chart from TradingView
Shiba Inu is starting to reverse some of its price losses in December as the crypto industry reacts after Bitcoin’s recent break above the $100,000 psychological level. This has seen the activity of Shiba Inu increase notably in the past few days. According to data from Coinmarketcap, the trading volume of Shiba Inu has increased […]
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. secara resmi mengumumkan peluncuran token ekosistem terakhirnya, TREAT, yang dijadwalkan rilis pada Januari 2025. Dengan kehadiran ini, ekosistem Shiba Inu yang sebelumnya mencakup SHIB, BONE, dan LEASH, kini diperluas. TREAT akan menjadi komponen kunci dalam mekanisme rewards dan governance yang ada di jaringan ini. Token Keempat Shiba Inu Akan Diluncurkan Januari Pengumuman […]
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
Shiba Inu (SHIB) has captured the spotlight with a strong rebound from the critical $0.00002045 support level. This bounce not only reaffirms the significance of this zone but also sparks fresh hopes for a potential bullish breakout. With momentum building, the bulls appear to be gearing up for a rally, aiming to push SHIB toward higher resistance levels and beyond. The market sentiment surrounding SHIB has shifted positively, with speculation on the likelihood of a breakout above its next resistance levels. Technical indicators suggest growing bullish momentum, but the road ahead is challenging. Overcoming the immediate resistance will require sustained buying pressure and robust market participation. Key Support Holds Strong: The Importance Of $0.00002045 The $0.00002045 level has emerged as a cornerstone for Shiba Inu’s price trajectory, acting as a critical support zone in the current market structure. This level has consistently demonstrated its significance, providing a base for rebounds and serving as a key psychological level. Related Reading: Shiba Inu 260% Rally: Analyst Sees Classic Bullish Patterns Emerging Support levels like $0.00002045 are more than price markers; they represent zones where buying interest is strong enough to counter selling pressure, preventing further declines. For SHIB, this level has become a battleground, where bulls step in to defend against bearish momentum. Its recent successful rebound from this support highlights its importance, instilling confidence in market participants and signaling the potential for more gains. Furthermore, the $0.00002045 support aligns with broader market trends and key technical indicators, such as oversold signals on RSI or strong trading volume, reinforcing its role as a pivotal zone. As Shiba Inu navigates its path forward, this support level will continue to be a critical marker in determining whether the bulls can maintain control or if bears will gain the upper hand. Shiba Inu’s Next Move: Will The Bulls Maintain Control? Currently, SHIB is attempting to cross above the Simple Moving Average (SMA). A decisive move above this indicator could solidify the bullish narrative. Interestingly, this could open the door for further growth and increased market confidence, sparking a move toward the $0.00002631 resistance level. Key technical indicators, such as the RSI and trading volume, suggest rising interest. However, the bulls must capitalize on this momentum to avoid a possible reversal. Related Reading: Shiba Inu Testing A Significant Support Zone – Bullish Breakout Ahead? SHIB has surged to the $0.0000224 level after witnessing a rebound. Should the bulls falter, SHIB could face renewed bearish pressure, pulling the price back toward the critical $0.00002045 support level. This level will remain a focal point as reaching it could either reinvigorate bullish sentiment or act as a trigger for a deeper correction. Ultimately, SHIB’s next move will depend on how the bulls navigate this critical phase. Will they maintain control and drive the price toward fresh highs, or will the bears regain dominance? The coming days promise to be decisive for SHIB’s short-term trajectory. Featured image from iStock, chart from Tradingview.com
Shiba Inu (SHIB) is back in the news courtesy of projections of a 260% price increase, which is making people very excited. There are “textbook bull signals” on the charts, which means SHIB could reach $0.000081 in the next few months, according to an analyst. But what’s making people so hopeful? Related Reading: Will Bitcoin Enter Its Most Massive Bull Cycle? This Engineer Thinks So Whale Activity Sparks Fresh Momentum Recent whale movements are yielding very significant insights into the prospects of SHIB. One such movement involved the withdrawal of 220 billion SHIB tokens, worth $4.63 million, from Binance by a single entity. Such withdrawals have usually been linked to heightened interest among institutional or high-net-worth investors, and it bodes well for the token. $SHIB (Shiba Inu) finishing up the year holding a major breakout and coming off of textbook bull signals on lower timeframes! Holding broken out, the target at $0.000081 goes unchanged and these bull signals can be pointing to a continuation within an over 264% run to reach it! https://t.co/4L9HEciT3a pic.twitter.com/qkmLQURP5u — JAVON⚡️MARKS (@JavonTM1) December 31, 2024 According to IntoTheBlock data, the large transaction and whale activity also supports this trend. As more interest is gathered, SHIB is building up the momentum needed for overcoming critical resistance levels. Breaking Resistance Levels Even though the prediction is for price growth, SHIB needs to break through a key resistance level at $0.000029. Analysts say that breaking above this level is the first thing that needs to happen for the token to reach its lofty goal of $0.000080. In the past, this resistance had stopped SHIB in its tracks, but recent good sentiment might be enough now. Meanwhile, the metrics from Coincheckup have shown an improved trading volume and market sentiment of SHIB. If this continues, the token might find the strength to overcome the current barriers it faces. The Broader Crypto Context The surge for Shiba Inu is happening in the midst of more significant changes in the cryptocurrency space. The recent stabilization of Ethereum and Bitcoin has created an opportunity for altcoins like SHIB to flourish. Furthermore, new players have entered the market as a result of memecoins’ growing appeal as speculative investments. According to other analysts, the optimism may also stem from SHIB’s long-term strategy, which centers on Shibarium, their Layer 2 blockchain. Investors find SHIB’s use case more appealing since Shibarium enables quicker transactions and cheaper costs. Related Reading: Bitcoin As A Strategic Asset? CryptoQuant CEO Questions US’s Next Move Proceed With Caution As the hype around Shiba Inu continues to grow, investors are reminded to stay informed and exercise prudent risk management. Whether SHIB reaches $0.000080 or faces further resistance, the coming months promise to be pivotal for the token’s journey. Featured image from Vector illustration. Pro Vector, Vecteezy, chart from TradingView
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 […]
Shiba Inu has faced consistent bearish price action, with its value dropping over 44% since reaching a local high in early December. This prolonged downtrend has left investors and traders questioning whether the popular meme coin can recover or if further losses are on the horizon. Related Reading: Ethereum Stays Within Symmetrical Pattern – Analyst Sets ETH Target Top analyst Ali Martinez has shed light on Shiba Inu’s current price structure, sharing a detailed technical analysis that pinpoints the asset’s most significant support zone between $0.0000215 and $0.0000193. According to Martinez, this range represents a crucial battleground for SHIB. Holding above this support could pave the way for a substantial rally, reigniting optimism among holders and signaling a potential reversal in sentiment. However, a failure to defend this critical zone may trigger deeper corrections, extending the bearish momentum that has gripped the market. For now, all eyes are on Shiba Inu as it tests these pivotal levels. Whether the token can stabilize and recover or succumb to further downside pressure will likely depend on broader market dynamics and the ability of SHIB’s community and whales to support its price. Shiba Inu Holding Key Demand Shiba Inu remains a focal point for meme coin enthusiasts, capturing attention for its resilience and potential to deliver gains. Following a clean breakout post-election, the token has seen renewed interest from retail investors eager to identify an opportune entry point. The allure of meme coins, combined with Shiba Inu’s history of explosive rallies, continues to make it a speculative favorite among traders. Top analyst Ali Martinez recently highlighted Shiba Inu’s critical support zone between $0.0000215 and $0.0000193. Martinez’s technical analysis indicates that holding above this range is vital for the token’s price trajectory. If SHIB maintains these levels, it could spark a wave of buying pressure as investors flock to capitalize on its perceived upside potential. A stabilization within this zone might act as a launchpad for future price surges, reigniting excitement across its loyal community. Related Reading: Cardano Holds Crucial Support At $0.77 – Massive Rally Ahead? However, the risks are equally evident. Shiba Inu’s momentum may wane as interest shifts toward emerging meme coins that promise quick gains or novel narratives. Competing for attention in the crowded meme coin market is a constant challenge. To stay relevant, Shiba Inu must leverage its strong community support and strategic developments. Technical Analysis: Key Levels To Watch Shiba Inu (SHIB) is currently trading at $0.00002117, showing resilience by holding the 200-day EMA at $0.00002059 as a key support level. This development is significant, as the 200-day EMA is widely regarded as a long-term strength indicator in technical analysis. Maintaining support above this mark signals that SHIB may be gearing up for a potential price surge. Fostering optimism among traders and investors. The 200-day EMA often acts as a critical dividing line between bullish and bearish trends. For SHIB, defending this level not only reinforces market confidence but also sets the stage for buyers to regain momentum. A sustained hold above the EMA could catalyze a broader rally. Potentially pushing SHIB toward higher resistance levels and reviving its appeal among meme coin enthusiasts. Related Reading: Dogecoin Whales Bought Over 90 Million DOGE In 48H – Details Failing to hold the $0.00002059 mark could trigger a deeper correction, with the price likely retracing to the $0.000015 support zone. Such a move would signal weakening sentiment and could deter investors from entering new positions. Featured image from Dall-E, chart from TradingView
In the face of ongoing market volatility, Shiba Inu (SHIB) has demonstrated impressive resilience as it holds strong above the pivotal support level of $0.00002045. While fluctuations and market uncertainty have swayed many altcoins, SHIB’s ability to stay above this key level signals a growing sense of stability and bullish potential. The support at $0.00002045 […]
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 […]
The Shiba Inu ecosystem has witnessed an increase in SHIB burning endeavors in the 24 hours leading up to Christmas day. According to data from Shibburn.com, Shiba Inu’s burn tracker, the meme coin has witnessed a 41.87% increase in the number of Shib tokens burned when compared to the previous 24-hour timeframe. Although this increase […]
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 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 […]
The post Shiba Inu advances DeFi strategy with Chainlink partnership appeared first on CryptoSlate.
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 […]
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
Bitcoin’s pullback after hitting a new all-time high above $108,000 has started a correction in select altcoins, signaling profit booking by the bulls.
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
Bitcoin is facing selling above $100,000, but the repeated retest of a resistance level increases the likelihood of a breakout.
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
Bitcoin’s rally above $100,000 has improved sentiment, triggering a strong recovery in several altcoins.