Shiba Inu (SHIB), one of the most talked-about meme coins in the cryptocurrency space, has seen a notable surge in whale activity in the past 24 hours. Particularly, data from on-chain analytics platform IntoTheBlock reveals a 265% increase in whale transactions within the past 24 hours. Interestingly, this surge in whale activity is more notable […]
The Shiba Inu price has crashed below $0.000022, declining by more than 20% in just one week. This massive crash has left 43% of SHIB investors facing losses. Moreover, the recent drop in the Shiba Inu price comes alongside a broader meme coin market decline, with top coins like Dogecoin, Pepe, and Bonk also experiencing […]
Shiba Inu has entered into a strategic partnership with Chainlink, according to a press release published in SHIB Magazine. This alliance will see Shibarium, Shiba Inu’s layer-2 (L2) blockchain network, integrating Chainlink’s Cross-Chain Interoperability Protocol (CCIP) as its canonical infrastructure for cross-chain communication, alongside the adoption of the Cross-Chain Token (CCT) standard for its native […]
A significant Shiba Inu (SHIB) transfer has caught the attention of traders today, December 19, as an early and highly profitable SHIB whale moved nearly 400 billion tokens. On-chain analysis service Spot On Chain (@spotonchain) highlighted that this well-known early buyer deposited 399.99B SHIB (worth $9.69 million) to Gemini, building on a history of substantial gains after initially acquiring 15.2 trillion SHIB in August 2020 for a mere 10 ETH. Spot On Chain wrote via X: “This early $SHIB whale with a $108M profit just further deposited 399.99B $SHIB ($9.69M) to Gemini in the past hour. Notably, on Aug 7, 2020, this whale bought 15.2T SHIB for just 10 ETH. Now, the whale still holds 2T SHIB ($48.54M) with an estimated total profit of $107.7M (3.7x return) from SHIB.” This is not the first time such profit-taking has occurred by the anonymous whale. In mid-November, Spot On Chain noted that the same early buyer (address “0xd6b”) was “back to offload tokens after 8 months of inactivity,” depositing 100 billion SHIB (worth $2.81 million at the time) to Gemini. Prior to that, the whale was last active in March, transferring 200 billion SHIB to both Gemini and Crypto.com. Related Reading: Shiba Inu Price Ready For 130% Surge With Bullish Patterns Marked By Higher Highs Shiba Inu Price Drops Within the last 24 hours, SHIB’s price has declined roughly 6.2%, extending a short-term downward move that saw a 10% drop on December 18. Notably, much of this weakness aligns with the broader crypto market downturn following the recent Federal Open Market Committee (FOMC) press conference. Although the expected 25 bps rate hike was delivered, Fed Chair Jerome Powell’s emphasis on a more restrained approach to interest rate cuts in 2024 resulted in a bearish market response across digital assets. Despite these macro headwinds and the high-profile whale sell-off, Shiba Inu’s higher time-frame technical structure remains relatively stable. In the daily chart, SHIB held key support which is the 100-day EMA which has proven to be a formidable support level for SHIB since the price first ascended above it in late September. Related Reading: Shiba Inu Bulls Aim Higher As SHIB Sights $0.00002960 For A Fresh Rally Marked by the yellow circles on the chart, this EMA has repeatedly served as a crucial pivot point for price action, sustaining support for the fifth time during the observed period. Currently, the 100-day EMA sits at approximately $0.00002264 Additionally, SHIB remains above the 0.382 Fibonacci retracement level at $0.00002409, another critical threshold currently being watched by analysts. The 0.5 Fibonacci level at $0.00002821 marks a pivotal midpoint from the recent high-to-low range, serving as a psychological test for traders should SHIB attempt a recovery. Beyond that, further upside resistance levels await at the 0.618 Fib ($0.00003234) and 0.786 Fib ($0.00003821), potential barriers if bullish momentum returns. Featured image from Shutterstock, chart from TradingView.com
Dogecoin and Shiba Inu prices have significantly crashed in the last 24 hours. This is partly due to Jerome Powell’s speech, which painted a bearish picture for crypto assets despite the announcement of a 25 basis point (bps) rate cut. Why The Dogecoin And Shiba Inu Prices Crashed The Dogecoin and Shiba Inu prices are […]
The Shiba Inu price is flashing bullish signals that could pave the way for an impressive 130% rally to new levels. A crypto analyst has highlighted a pattern of higher highs, solidifying his optimistic price projection of an imminent price surge for SHIB. Shiba Inu Price Gears Up For 130% Rally Klejdi Cuni, a TradingView crypto analyst, has released a detailed chart analysis displaying a bullish set-up for the Shiba Inu price. The chart highlights an ascending oval trend, with Shiba Inu consistently making higher highs on the daily. Related Reading: Bitcoin Daily Bollinger Bands Expand, Why BTC Price Could Rise To $120,000 As Early As Next Week The analyst disclosed that Shiba Inu has repeatedly faced strong support around the $0.00002424 level for about a month. This retest of the support level signals an Accumulation zone, where buyers consistently step in to avoid further price decline. Sharing a price chart, the analyst has set several upward targets as Shiba Inu continues its bullish trajectory. The sharp upward curve in the chart also indicates that the SHIB price could enter a strong parabolic move upwards after breaking key resistance levels. Cuni projects a steady but substantial price increase for Shiba Inu, projecting that the meme coin could surge 130% to reach an initial target of $0.00003232 in the near-term resistance. The analyst has also predicted that Shiba Inu could hit a second target at $0.00004167. If Shiba Inu can maintain its bullish momentum and stay above $0.000041, Cuni believes a significant breakout level to the third target at $0.00005675. Finally, representing the highest target on the price chart, the TradingView analyst forecasts a massive surge to $0.00007012. Although reaching these bullish price targets would mark a significant milestone for the Shiba Inu price, it would still fall well below the meme coin’s all-time high of $0.000086. This all-time high was achieved during the bull run in 2021 when the demand and price of meme coins surged dramatically. Related Reading: XRP Price Breakout Above $10: Analyst Tells Community To Pay Attention To This Fractal Cuni explained that Shiba Inu had already achieved his first projected target. However, despite being a meme coin, Shiba Inu has not displayed a price action similar to that of other meme coins in the market. Analyst Says SHIB ATH Incoming The Shiba Inu price is currently trading at $0.000028 after experiencing an 8% decline over the past week, according to CoinMarketCap. The meme coin had been one of the top gainers of this bull market, having surged above $0.00003 recently. With its current price action signaling a potential reversal, a prominent crypto analyst, identified as ‘The CryptoBull,’ has predicted that Shiba Inu could reach new all-time highs this bull cycle. Related Reading: XRP Price Breakout Above $10: Analyst Tells Community To Pay Attention To This Fractal The analyst shared a chart in an X (formerly Twitter) post displaying Shiba Inu’s price movements from May 2022 to the present. The analyst suggests that if Shiba Inu crosses $0.00003285, the meme coin could see an explosive surge to $0.00008852, making a new ATH. Featured image created with Dall.E, chart from Tradingview.com
The Shiba Inu price has rebounded towards $0.00003, which has put most of the SHIB holders back in the green. This is significant, considering how it could set Shiba Inu on a path to higher prices. Most SHIB Holders In The Green As Shiba Inu Price Rebounds IntoTheBlock data shows that most SHIB holders are in the green as the Shiba Inu price rebounds towards $0.00003. 69% of these SHIB holders are now in the money, while 24% are out of the money, and 6% are currently in the money. This could be bullish for the Shiba Inu price, considering that holders are less likely to sell when they are in the money. Related Reading: XRP Price Prediction: Last Phase Of ABC Wave Points To A Bounce To New ATH At $5.85 This could reduce the selling pressure on SHIB and sustain the Shiba Inu price recovery. The meme coin has recovered towards $0.00003. The ‘In the Money’ metric shows that the next significant resistance level that Shiba Inu needs to break above is $0.000033. 130,620 wallet addresses bought 15.06 trillion SHIB tokens around this level. However, on-chain metrics still paint a bearish picture for Shiba Inu, which is undoubtedly concerning. IntoTheBlock data shows that the ‘Concentration’ metric is in the red, indicating that SHIB whales currently have a bearish sentiment towards the meme coin and are opting against accumulating more coins. This large transaction metric is also bearish at the moment as Shiba Inu whales are opting against accumulating more coins. The net network growth also paints a bearish picture for the Shiba Inu price, as there is currently a low influx of new addresses buying the meme coin. The Shiba Inu burn rate has also remained inconsistent, further presenting a bearish outlook for the Shiba Inu price. Shibburn data shows that the burn rate is down over 79% in the last 24 hours, with three million coins burned during this period. From A Technical Analysis Perspective Crypto analyst Javon Marks has provided a bullish outlook for Shiba Inu from a technical analysis perspective. In an X post, he stated that Shiba Inu recently confirmed another bullish pattern, which could lead to a continuation of its upward trend. The analyst added that another major upside move could be in play for SHIB, with the meme coin possibly rallying to $0.00081 or even higher. Related Reading: Weekly Bull Flag Appears On XRP Price Chart, Why A Double-Digit Is Still Feasible The crypto analyst further mentioned that with this target at $0.000081, the Shiba Inu price could witness a 180% climb and that this rally may already be in play. A rally to $0.000081 could pave the way for Shiba Inu to surpass its current all-time high (ATH) of $0.000088. At the time of writing, the Shiba Inu price is trading at around $0.000029, up over 8% in the last 24 hours, according to data from CoinMarketCap. Featured image created with Dall.E, chart from Tradingview.com
The Shiba Inu burn rate has seen a turnaround, skyrocketing by 1,068% despite the meme coin’s recent price decline. This unexpected Shiba Inu burn recovery comes amid a bearish market trend, with indicators suggesting the potential for further SHIB price corrections. However, the sharp increase in burn rate could indicate a renewed interest from investors, […]
A wallet linked to the United States government has transferred over 54 billion Shiba Inu (SHIB) tokens to a newly created wallet. Popular blockchain analytics platform Arkham Intelligence indexed the transaction on December 3. Announcing the move on X, Arkham stated: “ALERT: US GOVERNMENT MOVING $1.5 MILLION OF SHIBA INU.” Specifically, the US government transferred 54,897,092,549 SHIB tokens to the Ethereum wallet ‘0x995’. Following the transaction, the sending wallet—associated with the US government—no longer holds any SHIB tokens. The recipient wallet, now with a total crypto portfolio valued at $33 million, has retained the assets. Notably, the US government acquired these SHIB tokens through the seizure of assets from Alameda Research, the trading firm affiliated with the now-defunct crypto exchange FTX. This seizure was part of a broader forfeiture action involving more than $700 million in assets due to legal issues surrounding FTX and Alameda. The SHIB tokens were among a variety of digital assets seized during this process. Related Reading: Shiba Inu Could Increase 75% If It Holds Current Level – Analyst Shares Price Target Data from Arkham suggests that the recipient wallet was newly created. Its first transaction occurred recently when it received $1.061 million worth of AEGRO tokens from the same wallet that moved the SHIB tokens. Within less than two hours, the wallet also received other crypto assets from the US government-affiliated address, including 4,815 ETH (approximately $17.9 million), 13.58 million BUSD ($133 million), and 631,959 POWR ($221,000). While it remains unclear whether the US government has sold its SHIB holdings, the absence of any identified exchange or over-the-counter (OTC) addresses linked to the transaction suggests that the government may still hold the tokens. Shiba Inu Price Analysis: Potential For A 130% Surge? Crypto analyst Rony Kapoor (@LearnRony) shared a comparative chart analysis between Dogecoin (DOGE) and Shiba Inu (SHIB) on X, stating: “Next leg up in SHIB will be like DOGE? Shib looks like big Cup & Handle pattern forming like doge before it run turbo. Sooner or later Shiba Inu will pump!!!” The chart for DOGE illustrates a clear “Cup and Handle” formation—a bullish continuation pattern that often precedes a significant price breakout. DOGE’s handle formed near the $0.21 mark, and following a period of consolidation, the token rallied to a peak of approximately $0.48. This move represented a substantial 128% increase from the breakout point. Related Reading: Shiba Inu All Set For ‘Bull Show’, Eyes 180% Rally – Analyst Similarly, SHIB’s chart indicates the potential formation of a Cup and Handle pattern, with the structure still developing. The current trading price is hovering around $0.000030, with resistance levels identified at $0.000038—the anticipated handle resistance. If SHIB follows a trajectory similar to DOGE, a successful breakout could target a price level around $0.000087, based on the proportional increase observed in DOGE’s previous movement. Technical indicators such as the Fibonacci retracement levels support this analysis. SHIB is currently trading below the 0.618 Fibonacci level at $0.000032. A break above this level could see SHIB targeting the 0.786 Fibonacci level at $0.000038. Subsequent targets include the yearly high from March at $0.00004569. Notably, the all-time high of $0.00008854 aligns closely with the projected target from the Cup and Handle pattern identified by Kapoor. Featured image from Shutterstock, chart from TradingView.com
The broader crypto market has witnessed a massive surge in the Shiba Inu burn rate, with the metric skyrocketing by 2,296% in just one day. This remarkable surge reflects the community’s desire to decrease the overall supply of Shiba Inu and possibly induce a price increase. With Shiba Inu showing signs of a strong revival, […]
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 […]
Shiba Inu lead developer Shytoshi Kusama has addressed inquiries regarding the ambitious goal to burn 99% of the circulating SHIB token supply. Kusama initially engaged with the community by inviting questions for his podcast, stating, “What a topic or question you want to hear answered on my podcast? #shyspeaks.” Burning 99% Of Shiba Inu Tokens ‘Can Be Achieved’ This call to engagement set the stage for subsequent discussions about the potential token burn strategy. Fang Zhang, Chief Financial Officer at LSP Finance, directly queried the feasibility and strategic planning behind such an extensive burn: “The timeline and roadmap of burning 99% Shib Token in circulation, pls.” Responding to Zhang’s inquiry, Kusama provided an explanation of the challenges and considerations involved in burning 99% of SHIB tokens. He acknowledged the historical improbability of such an endeavor, noting, “Burning 99% of Shib seemed impossible just a few years ago, but with many projects banding together to achieve this monumental task it can actually be achieved.” Related Reading: Shiba Inu ‘To The Moon’: Lead Kusama Unveils Key Catalysts Kusama elaborated on the necessary conditions for this outcome, emphasizing the adoption of the Shib tech stack by multiple projects, particularly large-scale ones, to facilitate the burn. “More and more projects or a few mega large ones have to adopt the Shib tech stack,” the SHIB lead dev stated. Kusama highlighted several significant obstacles to achieving the burn target. He explained that if the burning process begins to accelerate, it could drive up the price of SHIB as investors anticipate a surge, making the burn more expensive and thereby slowing the process. “Assuming things started spiraling to a huge burn, people will buy considering that the price will moon. In this case, it would be more expensive to burn Shib, slowing down burning,” Kusama stated. Related Reading: Shiba Inu Could See A 53% Surge If This Resistance Breaks, Analyst Explains Additionally, he emphasized that the strategic intent behind the burn is as crucial as the actual burning process itself, saying, “It’s not the burning that matters, it’s [the] intention.” Moreover, Kusama pointed out that token burns are not the sole pathway to SHIB’s success. He articulated that the development of utility for the memecoin is equally important, noting, “Finally, burns are not the only way Shib wins. If I say oh I approximate, that would take ANY LENGTH OF TIME, it’s not short enough for fudders. So we find other ways to give a memecoin utility and ensure we get to a point through viral distribution that people don’t want to burn the token anymore.” He stressed the importance of enhancing SHIB’s utility through mechanisms like staking and developing new use cases for associated tokens such as BONE, LEASH, and Treat. The proposed burn of 99% of SHIB’s total supply would create extreme scarcity. Should demand remain stable or increase, the reduced supply could lead to a significant rise in the value of each remaining SHIB token. This shift has the potential to elevate SHIB from its current status as a low-cost meme token to a more valuable asset. However, Kusama clarified that such a burn would be a gradual process, driven by the adoption and integration of SHIB’s technology across various projects probably over several years, rather than an immediate reduction. As of press time, SHIB is attempting to breach the 0.5 Fibonacci retracement level at $0.00002823. This technical level is derived from the March 5 high of $0.00004567 and the local low of $0.00001067 observed on August 5. In the short-term, a successful breakout above the 0.5 Fib level could pave the way toward the 0.618 Fib target at $0.00003235. Featured image created with DALL.E, chart from TradingView.com
The Shiba Inu community has launched a petition urging Binance to list Bone ShibaSwap (BONE), a pivotal token within the Shiba Inu ecosystem. This move aims to strengthen the ecosystem’s growth and enhance the interconnected utility of its tokens—SHIB, BONE, and LEASH. Shiba Inu Team Hopes For Another Successful Petition Lucie (@LucieSHIB), the marketing lead […]
Shiba Inu (SHIB) is currently consolidating after a massive rally earlier this month, which saw the token surge to $0.00003046 (on Binance). However, the momentum waned as SHIB retraced to levels below $0.00002303. With Bitcoin witnessing a push towards $100,000, SHIB investors have urged the development team to implement strategies that could catalyze a substantial rally Key Catalysts For Shiba Inu Price In response to these appeals, Shytoshi Kusama, the lead developer of the Shiba Inu ecosystem, addressed the community’s concerns by highlighting SHIB’s achievements and catalysts which will enhance the SHIB token valuation. Emphasizing the token’s prominence on the Ethereum blockchain, Kusama first stated via X: “‘Hey dude send Shib to the moon.’ Checks we are still #1 eth token in the world.” Addressing the notion that SHIB is merely a get-rich-quick scheme, a user commented: “What people don’t get is this token is about function and not just get rich quick.” Kusama agreed, replying that a superior technology and adoption are the key catalyst for the Shiba Inu token price: “Because through function we change the world and wagmi. No leader. Lots of tech. Unparalleled vision in the entirety of crypto. What more can you ask for?” Kusama wrote. Related Reading: Shiba Inu Could See A 53% Surge If This Resistance Breaks, Analyst Explains The conversation also turned to SHIB: The Metaverse, a project anticipated to drive broader adoption of the Shiba Inu ecosystem. When asked about its launch, Kusama revealed: “I expect a MV update in the Shib Mag soon :)” SHIB: The Metaverse is envisioned as a virtual world within the SHIB ecosystem, offering a digital playground where users can socialize, game, and trade digital assets. This metaverse aims to integrate Shiba Inu’s community, tokens, and services like ShibaSwap into a cohesive online environment. Users will be able to purchase virtual land, create unique experiences, and potentially mirror real-life businesses. Concerns about competition from other meme tokens were also addressed by Kusama. When a user asked about the competition from Dogecoin (DOGE) and BONK, Kusama emphasized that the SHIB ecosystem will be on an enterprise level: “I hope all memes do well so that wagmi. But they are playing ‘I Declare War’ and I am on the enterprise playing multilevel chess with the shields raised saying Check to a Klingon. #kipla” he stated. Related Reading: Shiba Inu (SHIB) Ready To Roar! Analyst Calls For A 200% Spike Further emphasizing upcoming developments, Kusama announced via X: “Analysis: Shib is still King! Bone is key. Leash is strong. TREAT is Coming.” He added shortly after: “Reminder that TREAT released by Shib Core is not yet available.” The TREAT token, designed as an access key to advanced features within the Shiba Inu ecosystem, is set to be released soon. This token will complement the existing SHIB, BONE, and LEASH tokens, each serving distinct roles within the ecosystem. While LEASH focuses on exclusivity and BONE on technology, TREAT will unlock advanced functionalities, enriching the overall user experience. In July, Kusama elaborated: “As you may know, Shib is home to a variety of tokens, including Shib, Bone, Leash, and our upcoming unreleased token: TREAT. Each token has its own utility and governance, and TREAT is the access token to all the advanced features of our system, in contrast to Leash, which is about exclusivity, or Bone, which focuses on technology.” Hinting at another potential catalyst, Kusama retweeted a post by artchick.eth (@digitalartchick), who speculated: “Memecoin ETF within 10 months.” Kusama commented: “I didn’t say it…. but I did RT it.” The prospect of a memecoin ETF in the United States is significant. Similar to the US spot Bitcoin and Ethereum ETFs, a memecoin ETF could attract substantial inflows from investors currently unable to access memecoin markets. Given its status as the second-largest memecoin by market capitalization, Shiba Inu would be a prime candidate for inclusion. At press time, SHIB traded at $0.00002502. Featured image from Shutterstock, chart from TradingView.com
Shytoshi Kusama, the pseudonymous lead developer of Shiba Inu, has laid out a strategic plan focused on driving mainstream adoption and enticing centralized exchange (CEX) support for Shibarium, Shiba Inu’s Ethereum Layer-2 solution. In an exchange on X, the team behind FEED (@feedcto), a Shiba Inu-based memecoin on the Shibarium network, raised concerns about the […]
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
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
Shytoshi Kusama, the lead developer of Shiba Inu, publicly mocked Charles Hoskinson, the founder of Cardano, over his alleged relations with the incoming Trump administration on crypto policy. The tension unfolded over X, drawing significant attention from the crypto community. As reported earlier, Charles Hoskinson has expressed plans to engage with lawmakers to foster clear […]
The rivalry between Shiba Inu (SHIB) and Dogecoin (DOGE) continues to rage, making headlines and becoming a top discussion among crypto community members. Recently, Investment firm Sistine Research unveiled a Shiba Inu chart analysis, which suggests that SHIB might be poised to outperform DOGE in 2025. The chart analysis points to a possible increase in […]
The Shiba Inu price has closely followed Dogecoin, considering that the two are the largest meme coins by market cap. This has led to talks of what SHIB’s price would be if it reached Dogecoin’s market cap. What The Shiba Inu Price Will Be If It Reaches Dogecoin’s Market Cap MarketCapOf data shows that the […]
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 […]
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
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 […]
Shytoshi Kusama, the lead developer of Shiba Inu, has unveiled an ambitious proposal to establish a “Strategic Hub for Innovation and Blockchain” (S.H.I.B.) in a United States city aka the “The Silicon Valley of Crypto.” Aiming to transform the selected location into a global epicenter for blockchain technology, the initiative seeks to position the US […]
Shiba Inu’s ecosystem has been expanding rapidly in the past year, thanks in part to Shibarium, its layer-2 platform. Interestingly, recent data shows Shibarium has seen an impressive uptick in activity, with daily transactions reaching 4.68 million in the past 24 hours. At the time of writing, SHIB is trading at $0.00001677 and is back into the negative movement in both the seven-day and 30-day timeframes. However, the uptick in activity has given SHIB investors something to watch closely to see if this momentum could drive the token’s price closer to $0.00008. Shibarium Sees Surge In Transaction Activity According to data from Shibariumscan, 4.68 million transactions were processed on the layer-2 network in the past 24 hours, which essentially kickstarts November on a good month. Speaking of November, it’s only been three days into the month, and Shibarium has already processed more than 13.4 million transactions. Related Reading: Bitcoin Completes Retest Phase: Only One Thing Left For A $110,000 Price By December A closer look at the transaction data reveals a progressive rise in network activity each day. Particularly, data from Shibarium scan shows that 4.21 million transactions were processed on November 1, 4.53 million transactions were processed on November 2, and 4.68 transactions were processed on November 3. Interestingly, this represents an increase of about 103,800% from the 6,540 transactions registered on Sunday, October 27. With this spike in activity, the Shiba Inu community is seeing increased interest in SHIB and related tokens like BONE, which also benefits from Shibarium. The uptick in transaction activity has, in turn, increased the number of BONE tokens recouped as transaction fees, which is also positive in terms of SHIB burns. This is because the accumulated BONE fees on Shibarium are exchanged for SHIB tokens. These SHIB tokens are subsequently burned and permanently removed from circulation, leading to a reduction in the total supply of SHIB. SHIB’s Price To Push Toward $0.00008? Shibarium has undoubtedly been one of the strong pillars of the Shiba Inu ecosystem since its launch. Therefore, the uptick in Shibarium activity is one of the first steps for the SHIB price to return to its all-time high levels of around $0.00008. Related Reading: Bitcoin Flashes Buy Signal After Price Closed 2nd Green Month Candle In A Row At the time of writing, SHIB is trading at $0.00001677 and has lost its footing above $0.000017 in the past 24 hours. While achieving $0.00008 would be a steep climb, sustained growth in Shibarium’s usage could provide a strong foundation for future price gains. Right now, the first step towards a return to $0.00008 would be SHIB bulls creating a price floor around $0.000017 or $0.0000165 that would reject any further declines. Nonetheless, November and the upcoming US elections promise to be a bullish month for SHIB and the wider crypto industry. Featured image created with Dall.E, chart from Tradingview.com
In a post on social media platform X, Lucie, the Shiba Inu marketing lead, expressed expectations for a November bull run and plans to seize the opportunity with a few interesting cryptocurrencies. Adding to the anticipation, the Shiba Inu team member recently emphasized this outlook, predicting that November will be a pivotal month for the […]
The Shiba Inu price movement has been marked by ups and downs in the past seven days. Particularly, the meme coin rallied from $0.00001660 to $0.00001996 in three days before dropping sharply to $0.00001770 in the three days after. This volatile Shiba Inu price action resulted in a fluctuating profitability for many SHIB addresses, with […]
The Shiba Inu burn rate has experienced a dramatic rise, soaring by over 24,271% in just one day. This massive token burn, as reported by the Shibburn tracking platform, coincides with a notable uptick in Shibarium transactions. Considering the significant volume of tokens burned in these large-scale SHIB transactions, this development could potentially serve as a catalyst for a rally, propelling the Shiba Inu price towards the $0.00008 milestone. Shiba Inu Burn Rate And Shibarium Transactions Skyrocket The Shiba Inu community has been filled with optimism as reports of an increase in SHIB burns spread across the crypto market. Just this week, recent data revealed that the Shiba Inu burn rate, which measures the number of tokens permanently removed from circulation, has seen a dramatic increase in the last few days. Related Reading: Dogecoin Bollinger Bands Squeezes Tighter Than It Was Before 2021 Rally, What This Means The Shibburn tracker reported a massive 24,271% increase in SHIB burns in a single day, destroying approximately 5,674,617,337 SHIB tokens. Earlier this week, Shibburn unveiled yet another significant rise in Shiba Inu burns via X. According to the SHIB burn tracking platform, the rate of tokens burned on October 31 had increased by an astounding 373,969.11% in just one day. This massive burn rate resulted in over 5.6 billion SHIB tokens sent to dead wallets. Furthermore, in the last 24 hours Shiba Inu recorded a historic moment as $100,019 worth of SHIB tokens were burnt in a single day. Notably, the SHIB burn rate has not been the only metric rising in the SHIB ecosystem. Lucie, SHIB’s marketing lead revealed in a recent X (formerly Twitter) post, that the daily transactions on the Shibarium Layer-2 network has skyrocketed to 3.89 million, recording a total transaction count of 446,904,690 at the time. The Shiba Inu marketing lead commemorated Shibarium builders, particularly WoofSwap for its steadfast commitment towards driving growth and innovation in the Shibarium ecosystem. Lucie disclosed that last year, WoofSwap had achieved a major milestone for the Shibarium network after they initiated a significant minting push that contributed to Shibarium burning nearly $1 million worth of SHIB tokens. Can Recent Rise In SHIB Burns Fuel Surge To $0.00008? The ongoing increase in SHIB burns, coupled with the recent rise in Shibarium transactions, marks a significant milestone for the Shiba Inu community. This achievement reflects the community’s desire for additional SHIB burns aimed at enhancing the token’s scarcity and driving more demand. Related Reading: PEPE Midterm Price Prediction: Is A 326% Rally To $0.00003474 Possible From Here? Typically, when a cryptocurrency is burnt, it means that it has been completely wiped out of circulation, which often creates scarcity and can lead to a potential price increase as demand for the cryptocurrency rises. In the case of Shiba Inu, the meme coin has a total circulating supply of 589.26 trillion SHIB. Of this substantial supply, 410.7 trillion SHIB tokens have been burned, representing nearly half of its original total supply of 1 quadrillion at its launch hour four years ago. Continuous SHIB burns could see the price of Shiba Inu rallying back to former all time highs of $0.000086. Moreover, the optimism generated from the burns is set to drive demand and potentially fuel gradual increase in the SHIB price to $0.00008. As of writing, the price of Shiba Inu is trading at $0.000017, marking a 2.3% rise in the last 24 hours. A price increase to the $0.00008 mark would require Shiba Inu jumping by approximately 370.59%. Featured image created with Dall.E, chart from Tradingview.com
The Shiba Inu price has seen a slight decline over the past 24 hours, suggesting that some traders may be taking profits after its recent price rally that peaked at $0.00001972. This dip, however, hasn’t dampened the overall bullish outlook for the meme coin. According to predictions from CoinCodex, a machine learning algorithm, the Shiba […]
The Shiba Inu burn rate skyrocketed by 252,910% as $100,000 worth of SHIB tokens was burnt in one transaction. This typically presents a bullish outlook for the Shiba Inu price, but the scam detector platform Susbarium has explained to investors why they should be wary of such token buns. Shiba Inu Burn Rate Skyrockets, But […]