The Shiba Inu burn rate is facing new challenges amidst a corresponding lull in the Shiba Inu price. According to data from Shiba Inu burn tracker Shibburn.com, the number of SHIB tokens burned in the past 24 hours has declined noticeably, which gives rise to a concern about the activity surrounding Shiba Inu and whether […]
Changpeng Zhao urges the crypto world to prioritize real blockchain solutions over memecoins, highlighting the shift in market dynamics.
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
Bitcoin trades just a few hundred dollars from $100,000. What will altcoins do if the price milestone is hit?
An analyst has explained how Shiba Inu could kickstart a new rally to this price target if it can break through the $0.000025 resistance level. Shiba Inu Is Currently Trying To Break Past The $0.000025 Resistance In a new post on X, analyst Ali Martinez has discussed a pattern that has been forming in the SHIB price recently. Below is the chart shared by the analyst that depicts the technical analysis (TA) pattern in question. As is visible in the graph, Shiba Inu has been consolidating inside a bull pennant recently. A pennant is a pattern that consists of three parts: a pole, a triangular consolidation channel, and the succeeding breakout. The ‘pole’ is made up of an initial sharp uptrend or downtrend in the coin’s price. In the context of the current topic, a bull pennant is of relevance, so the pole corresponds to the former type of trend. Related Reading: XRP Binance Inflows Spike: What It Means For Price The consolidation channel that succeeds the pole (the region that’s actually the ‘pennant’) has the asset move back and forth between two converging trendlines. The upper level of the channel generally provides resistance, while the lower one supports. A break out of either of these lines can imply a continuation of trend in that direction. The likelihood of a breakout taking place naturally goes up the closer the asset gets to the apex of the pattern. From the chart, it’s apparent that Shiba Inu has been closing in on the converging point of this bull pennant recently, implying that a break could take place soon. In the scenario that this breakout happens towards the upside, it’s possible that the resulting uptrend would last for a similar length as the pole. If so, SHIB would rise to the $0.000037 mark. Such a rally would imply an increase of more than 53% from the current price of the meme coin. However, Shiba Inu must clear one major obstacle for the run to occur: the $0.000025 level. Not only does this level roughly coincide with the upper line of the pennant, it also hosts a major on-chain demand zone. As Martinez has pointed out in another X post, around 40,000 addresses purchased a total of 54.6 trillion tokens of the asset around an average price of $0.000025. Investors who bought their coins around this level would naturally be holding them at a loss right now. As such, it’s possible that when the SHIB price retests this level, some of these holders will decide to sell, fearing that their holdings will dip into loss again in the future. Related Reading: Cardano Outperforms Market With 50% Surge: Here’s Why This potential selling can increase the resistance that Shiba Inu would encounter when trying to break past this mark. SHIB Price At the time of writing, Shiba Inu is trading around $0.000024, down almost 4% over the last week. Featured image from Dall-E, IntoTheBlock.com, charts from TradingView.com
Shytoshi Kusama, the pseudonymous lead developer of Shiba Inu, has laid out a strategic plan focused on driving mainstream adoption and enticing centralized exchange (CEX) support for Shibarium, Shiba Inu’s Ethereum Layer-2 solution. In an exchange on X, the team behind FEED (@feedcto), a Shiba Inu-based memecoin on the Shibarium network, raised concerns about the […]
Bitcoin continues its march toward $100,000, and several altcoins could be poised to hit new all-time highs.
The mysterious investor made an over 250,000-fold return on his initial investment of just $10,000, which is worth over $2.5 billion today.
Meme coin Shiba Inu has resumed its uptrend and is now on an 8% price uptick in the past 24 hours. However, this positive momentum is contrasted by a significant decline in whale activity, as revealed through data from on-chain analytics platform IntoTheBlock. Related Reading: Dogecoin Price Flashes Bull Flag On The Hourly Chart, Can […]
Bitcoin is witnessing a shallow pullback, but bulls still anticipate a rally toward $100,000 in the short-term.
Crypto analyst MadWhale has predicted that the Shiba Inu price could suffer a significant crash soon enough. Based on the analysis, this price correction is simply a healthy retracement that could pave the way for SHIB to reach new highs. Shiba Inu To Suffer A Major Price Crash In a TradingView post, MadWhale predicted that Shiba Inu could suffer a major price crash soon enough. According to the analyst, SHIB could decline further to the next lower Fibonacci support level. The analyst’s accompanying chart showed that this Fib support level is just above the psychological price level of $0.000020. Related Reading: Can Dogecoin Price Reach $1 By Year End? Here’s What The Fibonacci Levels Say However, the analyst is still bullish on Shiba Inu in the long term despite the possibility of this price crash. MadWhale stated that they anticipate a renewed upward movement following the potential dip, leading to a price recovery and subsequent price increases. The accompanying chart showed that the Shiba Inu price could rally to $0.00003200 on the first leg of this recovery. MadWhale also provided insights into why they are bullish on Shiba Inu’s long-term trajectory. The analyst stated that a significant influx of trading volume has entered the market for SHIB. Furthermore, they claimed that the meme coin is backed by one of the largest media platforms and communities in the global crypto space, which enhances its influence and market visibility. A price correction also seems likely for Shiba Inu, especially if the Bitcoin price were to correct following its recent parabolic rally past $90,000. IntoTheBlock data shows that the Shiba Inu price correlation with Bitcoin is at 0.91, which indicates a strong positive price correlation between both assets. Moreover, Shiba Inu’s recent rally has also been thanks to the parabolic rally that the Dogecoin price has enjoyed, given their price correlation. Therefore, with crypto analysts like Kevin Capital predicting that DOGE will witness a price drop soon, SHIB could also follow suit. SHIB Could End The Year At $0.0000444 In an X post, crypto analyst Investing Haven predicted that Shiba Inu could rise to $0.0000444 by year-end. The analyst stated that this price target aligns with the 25% Fibonacci retracement. Furthermore, Investing Haven noted that October’s predicted dip to $0.0000144 saw buyers step in at $0.0000158, reinforcing a bullish setup. Related Reading: Dogecoin Price To $20? Higher Montly Close Suggests 8,000% Run Is Possible Meanwhile, Investing Haven also stated that Shiba Inu’s strength signals an ultra-bullish 2025. The analyst’s accompanying chart showed that SHIB could rally to $0.00007436 sometime next year. This target is still below Shiba Inu’s current all-time high (ATH) of $0.000088. However, crypto analyst Javon Marks predicted that SHIB would still rally to its ATH and surpass it. At the time of writing, Shiba Inu is trading at around $0.00002642, up over 11% in the last 24 hours, according to data from CoinMarketCap. Featured image created with Dall.E, chart from Tradingview.com
Shiba Inu (SHIB) has had a significant surge this week, with its price increasing by over 60% in the last seven days. This increase is indicative of a broader trend in the cryptocurrency market, where significant coins such as Dogecoin are also reaping the rewards of overall market optimism. Related Reading: XRP Price Patterns And 2024 Election Spark Talk Of A New Rally SHIB’s ascent, presently valued at $0.00002803, is gathering traction, drawing the interest of both retail and institutional investors. In the past 24 hours, SHIB’s trading volume reached $5.69 billion, clearly indicating market awareness. This behavior indicates that SHIB may be preparing for substantial price fluctuations, particularly if market sentiment continues to be optimistic. Favorable Sentiment For The Memecoin A huge portion of SHIB growth can be attributed to the positive sentiment that exists in the cryptocurrencies market. Recent election results in the United States have instilled growing confidence, which seems to be spreading within the crypto space. The broader crypto landscape’s renewed confidence has largely acted as a catalyst in pushing the price up for SHIB. Some analysts even foresee that the price might shoot up as much as 306% based on this positive outlook. This optimism has resulted in a significant increase in whale activity, with substantial investors executing transactions that may substantially enhance SHIB’s value in the forthcoming months. With the growing interest in meme coins, SHIB’s market position appears increasingly favorable. Whale Activity Indicates Confidence One major determinant of SHIB’s growth is whale activity. Previously quiet for eight months, an investor has now reappeared and sent significant amounts of SHIB to exchanges. One such deal is the $2.81 million worth of 100 billion SHIB transfer to Gemini. This trade among others shows that whales are positioned deliberately to take advantage of SHIB’s recent spike. Early $SHIB buyer “0xd6b,” with a $120M profit, is back to offload tokens after 8 months of inactivity. An hour ago, this whale deposited 100B $SHIB ($2.81M) to #Gemini, leaving 2.5T $SHIB ($73M) remaining. Total estimated profit from $SHIB: $120M (+415%). Follow @spotonchain… https://t.co/yGvZt3QyKC pic.twitter.com/SODtxnIZ77 — Spot On Chain (@spotonchain) November 12, 2024 The whale holds a massive 2.5 trillion SHIB, worth around $73 million even after moving large volumes. This behavior usually shows trust in the potential of the asset, implying that large investors are orienting themselves for continuous expansion. Related Reading: Shiba Inu Strategic US Hub Plan Sends SHIB Price On A 23% Moonshot Shiba Inu & Market Dynamics SHIB’s future will likely be influenced by persistent whale activity and prevailing market mood. The cryptocurrency market’s evolution indicates a robust development potential for SHIB. The growing interest from institutional investors, along with the fervor of regular traders, may create conditions for another substantial price surge. Nonetheless, with profit-taking already underway, it is evident that certain investors are attempting to realize their profits. The euphoria surrounding SHIB, driven by favorable sentiment and substantial transactions, remains elevated, with many wagering on the memecoin’s further success. The forthcoming months will be pivotal in ascertaining whether SHIB can sustain its rising trajectory or will encounter a setback. Featured image from Pngtree, chart from TradingView
Bitcoin is showing no signs of stopping its advance toward $100,000, and several altcoins look poised to follow.
The Shiba Inu burn rate faces new challenges, as it has recorded a massive 82% decrease. This decline comes amid a period of recovery and positive momentum for the SHIB price, raising questions about whether the meme coin can still achieve its 2021 All-Time High of $0.00008. Shiba Inu Burn Rate Plummets In the last 24 hours, Shiba Inu’s burn rate has crashed by 82.32%. The Shibburn wallet tracker has reported this significant drop, revealing that only 81,937,558 SHIB tokens have been sent to dead blockchain wallets. Related Reading: Dogecoin Price To $1 Soon? Textbook Weekly Golden Cross Shows What’s Coming Next This severe decrease in burn activity contrasts significantly with previous periods when millions of Shiba Inu tokens were burned daily. Shiba Inu achieved a historic feat not too long ago, burning $100,000 worth of SHIB tokens in one transaction. The SHIB burn mechanism is a procedure that involves sending a portion of tokens to an inaccessible or “dead” wallet to reduce supply, increase scarcity, and potentially trigger a bullish surge in the price of the coin. These burns, recorded by Shibburn, a dedicated burn tracker for the Shiba Inu ecosystem, are primarily driven by the SHIB community. While the drop in Shiba Inu burn rate may be a challenge, this development comes at a surprising time. The SHIB price has been showing signs of recovery this week, bouncing back from previous lows. The Shiba Inu price has surged 16.28% in just one day and appears to be on a continued bullish momentum. Additionally, whale volume has seen a spike, suggesting that investors are accumulating SHIB tokens. Despite the recent price recovery and whale activity, Shiba Inu’s rise to $0.00008 could be compromised by its recent decline in burn rates. This decline appears to be severe, as SHIB has not recorded any notable burns over the past week. Shibburn reports that in the last 77 days, burn rates have been down 88%. For Shiba Inu to surge to its $0.00008 ATH, the cryptocurrency will need to be driven by several bullish factors and positive market sentiment. A combination of heightened market demand, increased burn rates, and strong momentum could catalyze Shiba Inu to its ATH milestone. However, with the burn rate currently down, SHIB’s ongoing growth trajectory to a new ATH is now in question. Related Reading: Bitcoin Price Signals Bullish Continuation With SuperTrend Rising, Here’s The Next Target After Beating $81,000 SHIB Price Jumps 63% In One Week Amidst the low burn rate and broader market conditions, the SHIB price has been on a major upward momentum, recording price gains as it traces the bullish trend experienced by the Dogecoin price. CoinMarketCap data reveals that Shiba Inu increased by 63% in the past week and 62.35% in the last month. The meme coin is also trading at $0.000028 as of writing, after recording another surge in its value today. Although Shiba Inu is witnessing new gains, its daily trading volume appears to be mute, decreasing by about 11.23%. Featured image created with Dall.E, chart from Tradingview.com
A lot of limelight has been seen recently on Shiba Inu (SHIB) making it one of the hottest topics to consider in the cryptocurrency arena. The price of SHIB rose by more than 70% over the past week, to the delight of investors and dealers. The trading volume has surged to as high as 246%, reaching an unprecedented high of $6.18 billion, putting to rest doubt over where SHIB will trend next. Related Reading: Shiba Inu Strategic US Hub Plan Sends SHIB Price On A 23% Moonshot SHIB & The Trump Effect Analysts however contend that the rise in SHIB can be ascribed to the rampant zeal witnessed in the cryptocurrency space fueled by some recent events in the US, including Donald Trump’s election victory, which has invigorated market sentiment – and his endorsement of Elon Musk for a proposed crypto department once he starts work as president. Amidst this anticipation, SHIB has set its sights on a rather steep growth curve. Currently situated a notch below where it should be, this degree of undervaluation points to the potential for a sharp uptrend within a few days from now. In the medium term, SHIB’s price forecast is rather optimistic given the projected 91.16% increase in the price over the next 6 months. This suggests that this meme token could be on an upward trajectory for quite some time as it cements its position among the leading crypto assets. Market Sentiment On The Rise The cryptocurrency landscape, on the other hand, paints a much broader and more optimistic picture, thereby raising a lot of expectations around SHIB. Market experts believe that the victory of Trump has created a market euphoria that complements the rally of Bitcoin and the rest of the digital assets and helps in the upward trajectory of SHIB. Whale Activity Indicates Interest Apart from market mood, on-chain data shows an increase in activity by important SHIB holders, known as “whales.” Data by IntoTheBlock shows that early November saw a notable rise in the volume of these high-value transactions—6.47 trillion SHIB overall. A high level of whale activity typically indicates a strong interest from significant investors, as they position themselves for potential future gains. An indicator that SHIB may be in for another round of price jumps is this pattern of accumulation among large participants. Still fairly fresh off of a confirmed Hidden Bull Divergence and holding broken out, $SHIB (Shiba Inu), in the midst of a roaring Bitcoin market, can be getting ready for its next level performance towards the $0.00081 target! This target’s currently over 306% away and a push to… https://t.co/0ySjEfPQgF pic.twitter.com/DwklAFs8zj — JAVON⚡️MARKS (@JavonTM1) November 8, 2024 Related Reading: Unstoppable Bitcoin: BTC Price Barrels Past $81,000 For New ATH — $82k Now Within Reach SHIB’s Route To A Significant Price Target Meanwhile, market observers are currently focusing on a potential target of $0.00081, which would represent a 306% increase from current levels, following recent technical breakouts and a confirmed concealed bullish divergence on the charts. Featured image from DALL-E, chart from TradingView
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 crypto industry is reveling in bullish sentiment, with most meme coins also participating in the action. Notably, a crypto analyst on the TradingView platform has dropped an interesting 160% bullish outlook for a meme coin, and it’s neither Dogecoin nor Shiba Inu. Instead, the focus is on DOGS, a relatively new meme cryptocurrency with […]
Experts are confident that Shiba Inu could potentially undergo a massive price surge on the back of a positive overall outlook on cryptocurrency. Donald Trump’s victory in the recently concluded US election brings waves of optimism in the cryptocurrency market which SHIB Inu can ride on to propel it to a 306% price hike. Related Reading: XRP On Fire: Analyst Predicts $4 Milestone As Token Rallies 11% Shiba Inu: Explosive Growth A market analyst predicted that the price of Shiba Inu could soar by at least 306%, as the entire cryptocurrency market is going on an overdrive excited by the results of the US elections. In a post, analyst Javon Marks said that it could potentially hit the $0.00081 mark, adding that this price surge is imminent for the meme coin and being forecasted to happen really soon. Still fairly fresh off of a confirmed Hidden Bull Divergence and holding broken out, $SHIB (Shiba Inu), in the midst of a roaring Bitcoin market, can be getting ready for its next level performance towards the $0.00081 target! This target’s currently over 306% away and a push to… https://t.co/0ySjEfPQgF pic.twitter.com/DwklAFs8zj — JAVON⚡️MARKS (@JavonTM1) November 8, 2024 “Still fairly fresh off of a confirmed Hidden Bull Divergence and holding broken out, $SHIB (Shiba Inu), in the midst of a roaring Bitcoin market, can be getting ready for its next level performance towards the $0.00081 target,” Marks said. Data showed that the meme coin has formed a Hidden Bull Divergence pattern. Reports explained that the Hidden Bull Divergence is a bullish indicator that usually occurs before a price rally happens. Moreover, analysts said that the cryptocurrency has already breached the consolidation phase which could beef up the bullish outlook for the meme coin. Shiba Inu-Bitcoin Relationship Analysts pointed out that there is a relationship between the price movement of Shiba Inu and Bitcoin, saying that any price movement with Bitcoin could also mean price movement for the meme coin. It is a correlation being monitored by many analysts as Bitcoin prices are soaring on the back of the newfound optimism on the overall crypto market. In previous reports, analysts discussed that Shiba Inu usually trails the price movement of Bitcoin, showing that there is a strong correlation between the two cryptocurrencies. They noted that whenever Bitcoin collapsed, the meme coin’s price also went down. Hence, any massive hike in Bitcoin could propel Shiba Inu into exponential growth. Many market observers are predicting that Bitcoin is on track for a massive price surge and in the last few days, the firstborn crypto has been hitting an all-time high price per coin. Therefore, BTC’s predicted price movement could also push Shiba Inu to its projected price. We aren’t even close to my crypto total MC prediction. Will it get there? Seems possible and likely imo. $10T+ $SHIB .0002 likely$BONE $50-$100$LEASH $15k-$20k $ETH $17k+$BTC $250k best case scenario$CRO $2.70$DOGE $2.70-$5 There may be a lot of “projects” out there… — HorBull™ (@HorBull) November 6, 2024 Related Reading: SEC Shake-Up: Robinhood Legal Boss On Shortlist For Top Spot—Report $118 Billion Market Cap Seen Meanwhile, analysts suggested that the market capitalization of Shiba Inu would soar and its price would increase by 950% once the market valuation of the global cryptocurrency reaches the $10 trillion mark. Market commentators said that if the $10 trillion market cap happens, the meme coin would be traded at $0.0002 and elevate its market capitalization to $118 billion. As of writing, the total global market capitalization of the crypto sector is pegged at $2.61 trillion while the current market cap of Shiba Inu is about $11.21 billion. Featured image from Chewy, chart from TradingView
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 […]
Meme coin Shiba Inu has seen a renewed surge in its price over the past 24 hours as it aims to breach the $0.000020 mark. This upward movement reflects some positive sentiment among investors, but a closer look at on-chain metrics paints a more complex picture. On-chain data suggests that the optimism might not be […]
Bitcoin hit a new all-time high at $77,000, boosting buying in several altcoins, which have also broken above their respective resistance levels.
Is SHIB price ready for a 90% price surge in early 2025? Technicals and chart fractals suggest that Shiba Inu is poised for a massive rally.
Recently, Shiba Inu (SHIB) has exhibited promising momentum, thereby attracting the attention of both investors and traders. After achieving a significant 30-day high, SHIB has embarked on an upward trajectory, leading many to speculate about its potential to attain new heights—perhaps even its all-time high (ATH). Related Reading: Solana Rockets Past BNB To Claim Coveted 4th Spot In Crypto Ranks With increasing buying volume, confidence in SHIB’s future is growing. Some individuals are beginning to believe that this could signal the onset of something more substantial; however, there remains a crucial obstacle: a resistance level at $0.00001900, which must be overcome. Shiba Inu: Breaking Through Resistance SHIB needs to break out above this zone of resistance, thus keeping the upward momentum intact. It has acted as a barrier in the past and hence inaccessible for SHIB to record more. If successful at breaking through, there is high hope for higher levels-and that may just kindle the hopes among investors that anticipate SHIB to test its all-time high again. A significant volume break at this level would, however, bolster the bullish sentiment. Conversely, if it fails to overcome this obstacle, SHIB might encounter a pullback toward its support levels, which are around the 50-day moving average, where it could consolidate and gather strength for another attempt. A More Favorable Market Environment? The timing of this likely breakout also looks pretty good in the context of a much larger, more favorable market environment. With the US elections out of the way, political uncertainty has diminished significantly, and investors appear to be willing to take on risk once again. This has caused a “de-risking” environment, and the asset here is a beneficiary. The overall crypto market is slowly showing a recovery trend, and it will bode well for SHIB in the long term. This would be especially true if short-term runs continue to favor SHIB. The next week to 10 days will be pivotal as to whether SHIB can sustain this trend or not. Related Reading: Binance Coin Breaks $600! Is There More Upside Ahead For BNB? Bold Vision Besides the technical details, there is a vision for the future of Shiba Inu. Recently, principal developer Kusama introduced an ambitious initiative designed to place the US as a global leader in blockchain technology through “Strategic Hub for Innovation in Blockchain” (S.H.I.B.). This project that has the potential to convert US into the “Silicon Valley of Crypto” will aim at attracting blockchain talent, stimulating innovation, and generating employment. However, despite these requiring hefty investments estimated between $1.3 billion and $2.35 billion for the next decade, it shows the growing ambition behind Shiba Inu and its much bigger role in the fast-changing blockchain landscape. At present, if it can break through the critical technical barriers and the market remains favorable, there is always the potential for significant growth down the line. Statistics from CoinCheckup indicate a six-month prediction increase of 107% for the meme coin, with a one year forecast of 77%. Featured image from blog.shib.io, chart from TradingView
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
Optimism toward the popular dog-themed meme coin, Shiba Inu, is gaining traction following a recent price rebound at the beginning of the week triggered by a positive market sentiment. Despite recent price fluctuations, several analysts are confident that SHIB is still capable of a short-term rally. Shiba Inu Undergoes Key Bullish Breakout Market expert and […]
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Dogecoin and the Shiba Inu price have recorded double-digit rallies in the last 24 hours, up 25% and 10%, respectively. The foremost meme coins have witnessed these massive price rallies thanks to developments in the US election, which present a bullish outlook for them. Why Dogecoin And The Shiba Inu Price Recorded Double-Digit Rallies Dogecoin […]