In the latest edition of The SHIB Magazine, the Shiba Inu team has unveiled new details about the upcoming DevPortal which is about to reshape the Shibarium Layer 2 blockchain landscape. This new tool is a comprehensive platform engineered to empower developers and significantly streamline the decentralized application (dApp) development process in the Shiba Inu […]
Shiba Inu burns have become a staple in the industry after the community sponsored burning began around two years ago. Every month, community members have been sending millions to billions of SHIB tokens to the burn address in a bid to reduce the total supply. The month of August 2024 has been no different as […]
Shiba Inu (SHIB) has started the month on a bearish note, as its price has dropped significantly since September 1. Based on historical data, SHIB could suffer more price declines this month, as the meme coin has often closed at a loss in September. Shiba Inu Begins September In The Red Data from CoinMarketCap shows […]
In an announcement on X, Lucie (@LucieSHIB), the marketing lead for Shiba Inu, delineated the commitment of the Shiba Inu team towards implementing a robust governance framework centered around their digital asset LEASH. With a fixed supply of 107,000 units, LEASH serves as a key financial asset and as a linchpin in the governance structure […]
The Shiba Inu ecosystem has taken a significant step forward with the introduction of a closed beta version of Shiba Eternity, its first game built on the Shibarium blockchain. Lucie, the Shiba Inu marketing lead, detailed the release schedule and features of the game in a comprehensive announcement on X today, marking a pivotal moment […]
During the latest episode of the AB Majlis podcast, the lead developers of Shiba Inu Shytoshi Kusama and Kaal Kaal Dhairya unveiled their intention to transition control of the project entirely to its community by the end of this year. This strategic move is part of a broader initiative to realize what they describe as […]
The Shiba Inu (SHIB) burn rate has again tumbled with the number of tokens burned in the last 24 hours, painting a bearish picture for the meme coin. Shiba Inu’s burn rate has continually fluctuated since the start of the year, with a lack of a catalyst to sustain a significant amount of tokens burned […]
Dogecoin (DOGE) and Shiba Inu’s (SHIB) price actions have been unimpressive in the last 24 hours. This is mainly thanks to Bitcoin’s strong price correlation with the foremost meme coins, with the flagship crypto’s price also on the decline. Why Dogecoin And Shiba Inu’s Prices Are Down Dogecoin and Shiba Inu’s prices are down due […]
On Thursday, the Shiba Inu marketing lead Lucie (@LucieSHIB) announced the official launch date for liquid staking on the Shibarium network. The announcement was made through a video posted on X on August 15, marking a pivotal moment for the project. Lucie celebrated the progress of the development team, stating, “Let’s give a huge shout […]
Shiba Inu (SHIB) is again catching the attention of crypto whales as on-chain data shows a 240% spike in this crucial metric. Thanks to the surge in this on-chain metric, a massive price rally for the second-largest meme coin by market cap might be on the horizon. Shiba Inu Records 240% Surge In Large Transactions […]
Shiba Inu’s lead developer, Shytoshi Kusama, has highlighted a feature that gives Shiba Inu an edge over the foremost meme coin, Dogecoin (DOGE). Despite this development, Dogecoin still looks to be the most preferred choice among crypto enthusiasts based on this important on-chain metric. Shiba Inu’s Edge Over Dogecoin In an X (formerly Twitter) post, […]
A recent transaction from Binance, the largest crypto exchange in the world, has caught the attention of the Shiba Inu community. This transaction was reported carrying a large number of SHIB tokens, sparking speculations of why the exchange executed this transaction in the first place. However, the destination of the tokens could serve as a […]
Data from the market intelligence platform IntoTheBlock shows that Shiba Inu whales have been offloading their holdings over the last 30 days. This development is likely due to several factors, including the meme coin’s unimpressive price action in recent times. Shiba Inu Whales Reduce Their Holdings Data from IntoTheBock shows that Shiba Inu whales have […]
The Shibarium network, a layer-2 solution built on the Shiba Inu blockchain, introduced an automated burn mechanism today. The update will be effective as of block 6,206,570 and was first announced by Lucie, the marketing lead of Shiba Inu, via X: “Starting at block 6206570, the Shibarium network will roll out a long-awaited update: a […]
Shiba Inu (SHIB) is at risk of significant selling pressure thanks to the bankrupt crypto firm Genesis Trading. This comes amid a spike in large transactions for the meme coin, which is undoubtedly a bullish development. How Shiba Inu Could Face Significant Selling Pressure Data from the on-chain analytics platform Arkham Intelligence shows that Genesis […]
The Shiba Inu (SHIB) marketing lead, Lucie, has provided insights into the challenges that lie ahead for the meme coin. She also highlighted how the SHIB ecosystem has evolved since launching four years ago. Challenges That Lie Ahead For Shiba Inu Lucie mentioned in an X (formerly Twitter) post that “building a decentralized network state […]
The cryptocurrency market has experienced a significant downturn over the past 24 hours, with assets such as Shiba Inu showing losses. A comprehensive review of CoinMarketCap reveals that the top 30 cryptocurrencies by market capitalization have recorded declines in both the past 24-hour and seven-day periods. As such, Shiba Inu hasn’t been left out, with […]
Shiba Inu (SHIB) turned four on August 1, a remarkable milestone for the meme coin, especially considering how far it has come. One of Shiba Inu’s highlights has been its token burns, which were again on display throughout July. Over 379 Million SHIB Tokens Burned In July Shiba Inu’s burn tracker Shibburn revealed in an […]
A crypto analyst has unveiled a new price target for Shiba Inu (SHIB) price, the second-largest meme coin by market cap. While highlighting Shiba Inu’s immense growth potential, the analyst placed a significant condition on his ambitious price forecast, stating that if Bitcoin reaches $3 million per coin, SHIB could rise to a multi-trillion dollar […]
Shiba Inu Games, an affiliated company specialized in the development of games for the Shiba Inu ecosystem, announced a major update to their flagship game, Shiba Eternity. The collectible card game (CCG) will see a system overhaul that renders previous accounts and collections incompatible with the new version. Shiba Inu Games Announces Major Overhaul According […]
Shiba Inu is close to officially complete the integration of its popular game, Shiba Eternity, with its proprietary layer-2 blockchain, Shibarium. Lucie, the marketing lead for Shiba Inu, disclosed today on X that the Shiba Eternity Web3 upgrade is coming. Shiba Inu’s Shib Eternity Goes Web3 Lucie describes this upgrade as a significant evolution for […]
The Shibarium network, an Ethereum Layer 2 network that was developed and launched by the Shiba Inu team, did well following its initial launch in August 2023. However, less than one year following its launch, the Layer 2 network has run into some hard times, losing market share to larger counterparts. This has led to a decline in activity for the network as a whole, and so far this week, the Shibarium network has seen a major decline in active accounts. Shibarium Active Accounts Drop 80.3% In 4 Days The Shibarium network is currently struggling with adoption of the blockchain as its parent Layer 1 blockchain, Ethereum, is fighting against the likes of Solana to keep its users. Furthermore, Ethereum Layer 2 networks such as Base by Coinbase have also drawn out a reasonable number of decentralized finance (DeFi) users, putting it ahead of Shibarium. Related Reading: Golden Cross Appears On XRP Price Chart, Factors That Could Drive A Fresh Rally As a result of this, the Shibarium network has been unable to keep users, leading to a decline in active addresses. According to data from ShibariumScan, active accounts at the start of the week, on Sunday, July 21, were sitting at a mere 667. As the week has drawn on, this already small figure has crashed further down. On Wednesday, July 24, the total active accounts recorded on the Shibarium network was only 131. This means that between Sunday and Wednesday, the total active accounts on the Ethereum Layer 2 network had plummeted by 80.3%. In the same vein, there has also been a notable decline in new transactions. This metric saw a total of 6,353 transactions on Sunday. However, by Wednesday, the figures had declined to 1,023, representing an approximately 84% decline. Likewise, the number of new blocks mined dropped 66.6% from 17,220 on Tuesday to 5,739 on Wednesday. These all show that interest in the Shibarium network is completely down with number of new accounts created was only 11 on Tuesday, July 23. Playing With The Big Dogs While the popularity and success of Shiba Inu over the years played into the anticipation for the Shibarium network, it has failed to live up to the app. When it comes to Ethereum Layer 2 networks that were launched between 2023 and 2024, the Shibarium network doesn’t hold up a candle to these other players. Currently, the Total Value Locked (TVL) on the Shibarium network is only $1.5 million, according to data from DeFiLlama. In contrast, Coinbase’s Base network was launched in the same month of August 2023 as Shibarium currently boasts $2.175 billion in TVL. Related Reading: Analyst Says Solana Price Will Surge 1,000% To $1,800, Here’s When The Linea network was launched a few months before Shibarium in March 2023, and the Layer 2 network currently has a TVL of $1.198 billion. Likewise, the BLAST network, which was launched much later in February 2024, has $1.47 billion in TVL. What this suggests is that the Shibarium network may have failed, given its incredibly low usage. However, there is always the question of if the Layer 2 network will be able to rise from the ashes and become a top DeFi contender once again. Featured image created with Dall.E, chart from Tradingview.com
With the vast popularity of Shiba Inu in the crypto space and millions of investors holding the SHIB token, the direction of the price has always been an interesting and hotly debated topic. Expectations are that the meme coin will continue to rise drastically as theme coins become some of the frontrunners of the crypto market, and many analysts agree. Even a machine learning algorithm has predicted that the Shiba Inu price will surge in the next few days. Machine Learning Algorithm Predicts 119% Surge The CoinCodex machine learning algorithm, taking into account a number of indicators, has concluded that the Shiba Inu price is extremely bullish from here. According to the website, sentiment toward the meme coin is still very bearish, which is usually a good time to buy and when a bounce is more likely. Addition the Fear & Greed Index is still sitting at a score of 71 representing Greed. This means more willingness among investors to put money in the market. Related Reading: Crypto Analyst Says XRP Is Still On Course To Rise To $150 The predictions from the machine learning algorithm span various time periods, but the one of interest is the 5-day prediction. As the data from the website shows, the machine learning algorithm is expecting the Shiba Inu price to double in less than one week. At the time of writing, the Shiba Inu price is still skirting around the $0.000017 level, and the price prediction puts it at $0.00003839. Such a price increase for the SHIB price would mean a 119.45% increase in less than a week. However, on a longer time frame, which is 30 days, the machine learning algorithm expects the price to turn bearish again. It puts it at a price of $0.00001686, which is a 3.66% decline from the current price. But would be an over 50% decline if the price does hit $0.00003839 in the next five days as predicted. When Will Shiba Inu Reach A New All-Time High? Despite the bullishness of the past year, the Shiba Inu price has failed to reclaim its 2021 all-time high of $0.00008845. Its current value puts it around 80% below this all-time high price, meaning that the meme coin still has a long way to go before it sets a new peak. According to the CoinCodex machine learning algorithm, investors in the Shiba Inu meme coin may be waiting a long time before this happens. The longer timeframe forecasts expect that the Shiba Inu price will hit a new all-time high in the year 2029 and rise as high as $0.000156. This would mean that it would take another half a decade before those who bought at the peak in October 2021 to see profit on their holdings again. Featured image created with Dall.E, chart from Tradingview.com
Crypto exchange OKX has revealed plans to delist trading pairs for several crypto tokens, including Cardano (ADA), Shiba Inu (SHIB), and XRP. This follows a performance check by the crypto exchange, which shows that these trading pairs aren’t meeting up to expectations. OKX To Delist These Trading Pairs OKX announced in a blog post that […]
Recent price action indicates that Shiba Inu (SHIB) is currently underperforming compared to other major cryptocurrencies. Over the past seven days, SHIB has experienced a significant decline of 7.26%, and in just the last 24 hours, the token has fallen by an additional 2.58%. This downturn is particularly noteworthy when compared with the performance of […]
Polygon recently provided more details on the proposed migration of MATIC tokens to its new POL tokens. This forms part of Polygon’s plan to build “aggregated blockchains” as its innovative approach to scaling these networks. Everything To Know About MATIC’s Migration To POL Polygon revealed in a blog post that the mainnet upgrade from MATIC […]
The marketing lead of Shiba Inu, Lucie (@LucieSHIB), announced today, July 18, the upcoming full integration of the Shiba Eternity game with the Shibarium blockchain. Shared via a post on X, Lucie stated, “THIS IS BIG FOR Shibarium & BONE & SHIB. To play this game, you will need to own a Shiboshi, and later, […]
The Shiba Inu burn rate has seen a notable recovery over the last day as the number of tokens being sent to the burn address has increased drastically. This recovery comes at a time when the crypto market has started to move into the green once again, and digital assets such as Shiba Inu are […]
The dog-themed meme coin Shiba Inu (SHIB) has seen a notable price recovery over the past 24 hours amid the broader market rally. After hitting a five-month low of $0.00001274 on July 5, the coin has gained 8% in the past 24 hours and is up a steady 20% over the past week. However, a prediction report published by Forbes suggests that the Ethereum-based altcoin is poised for major price gains throughout the rest of the year and may even surpass all-time highs. Expert Insights For SHIB According to the report, industry experts such as Himanshu Maradiya, founder and chairman of CIFDAQ Blockchain Ecosystem, offered a prediction for SHIB’s price by 2024-2025, ranging from $0.0001 to $0.0003, depending on favorable market conditions and continued ecosystem development. This would position SHIB’s price for a potential gain of 416% in the scenario of reaching the $0.0001 mark and even a substantial increase of 1440% in the case of reaching the $0.0003 benchmark. Related Reading: Ark Invest’s Bitcoin Report: Why They Bet Big On BTC’s Recovery On the other hand, Utkarsh Tiwari, Chief Strategy Officer of KoinBX, emphasized the difficulty of predicting cryptocurrency prices, including SHIB. Nevertheless, he noted the bullish sentiment surrounding SHIB and suggested a more conservative approach, stating a potential price range of $0.0000298 to $0.0000396 by the end of 2024. Tiwari also highlighted the importance of monitoring price movements, stating that if SHIB surpasses $0.00003682 and continues its upward trajectory, it could target $0.00006697 in 2024. Conversely, a price reversal could see SHIB drop to $0.000010, indicating the presence of decline risks. Shiba Inu Price Predictions According to the prediction algorithm of the crypto data platform Coincodex, Shiba Inu’s price predictions for the coming years are as follows: 2024 Prediction: SHIB is projected to trade between $0.00001453 and $0.00003859, with the upper price target representing a potential increase of 123.30% to reach $0.00003859. 2025 Prediction: Coincodex predicts SHIB will trade between $0.00001453 and $0.00007515 in 2025. Reaching the higher value target would signify a significant increase of 332.26% to reach $0.00007515. 2030 Prediction: The price prediction for Shiba Inu in 2030 ranges from $0.00002237 on the lower end to $0.00006428 on the higher end, with the upper price target indicating a potential gain of 270.72% to reach $0.00006428. Possibility of Reaching $0.01: While the enthusiasm surrounding SHIB is evident, reaching $0.01 would require a staggering gain of 46,144.44%. However, according to Coincodex’s prediction algorithm, SHIB is unlikely to reach $0.01. According to the algorithm, the highest expected price is estimated to be $0.000852 by January 1, 2049. Related Reading: Why Is The Ethereum Price Up Today? At the time of writing, SHIB is trading at $0.0001939, still recording losses of 6.7% in the monthly time frame, illustrating the price correction the meme coin has undergone. According to CoinGecko data, it is still up 141% in the year-to-date time frame. Featured image from DALL-E, chart from TradingView.com
On Tuesday, the Shiba Inu team reiterated in an official press release its commitment to innovation and community engagement as it announced its return as a title sponsor for ETHToronto. The event, slated for August 13-14, 2024, is a highlight of the Blockchain Futurist Conference and marks a significant week in Canada’s cryptocurrency and blockchain […]