Shiba Inu (SHIB) is again on top as crypto whales return to the meme coin’s ecosystem. On-chain data shows that these high-volume investors have been recently accumulating the meme coin, which could ultimately affect its price. Shiba Inu Sees Spike In Whale Transactions Data from the on-chain analytics platform IntoTheBlock shows that Shiba Inu saw […]
Well-known cryptocurrency expert and enthusiast Dami Defi has offered his insights on the price action of Shiba Inu, predicting a surge in the crypto asset as the Meme coin market sees a fresh wave of demand. Given the optimism around meme coins lately, Dami Defi is confident that Shiba Inu could rise by over 50% shortly. Shiba Inu Price Could Rise By 20% Shiba Inu (SHIB) has become one of the leading meme coins, attracting positive outlooks from several analysts in the crypto space today. Even though Shiba Inu began the week on a negative note, Dami Defi believes the meme coin can potentially surge in the short term. Related Reading: Crypto Analyst Predicts 350% Surge For Shiba Inu – Here’s The Target According to Dami Defi, the digital asset’s price has formed a descending wedge pattern in the 1-day timeframe. Should SHIB break out of this falling wedge pattern, Dami Defi anticipates an over 50% surge in Shiba Inu’s price. This 50% increase will take the crypto asset from its present price to the $0.000035 level. The analyst predictions align with Ali Martinez’s forecast, highlighting that the digital asset’s price is moving in a descending parallel channel. While Dami Defi anticipates an over 50% price surge for Shiba Inu, Martinez expects the crypto asset to rise by over 20% in the short term. Martinez’s anticipated 20% increase will take the crypto asset from the $0.00002444 price to the $0.00002954 level. Martinez appears bullish on Shiba Inu, as he had predicted the asset to reach $0.000072323. He highlighted that SHIB on the daily chart seems to be forming a bull flag, indicating an impending movement on the upside. Due to this, the expert opened trade at around $0.000018343 in hopes of a strong breakout that will take Shiba Inu to $0.000072323. Martinez’s prognosis, fueled by March’s rally, indicates that SHIB’s value may rise even further, providing investors in this thriving and active sector of the cryptocurrency market with a positive outlook for the meme coin. SHIB Predicted To Repeat 2021 Price Trend Or Even Better Shiba Inu’s marketing head, Lucie, delved into the memecoin’s price action. Lucie claims that during October 2021, SHIB, with no burns and no significant adoption at the time, witnessed a surge from $0.000007 to $0.000088 in just a matter of days, indicating an over 1,100% rise. Related Reading: Shiba Inu Price Prediction: Crypto Analyst Says Massive Surge Is Coming, Here’s The Target With the massive burns and widespread seen today within the SHIB ecosystem, Lucie might be suggesting the potential for the asset to reiterate this move or even further in this bull cycle. If this trend repeats, SHIB’s price might reach $0.00025 in this bull cycle. Lucie also underscored the consistent support by SHIB’s robust community and strong Shibarium ecosystem since 2021, which might also catalyze Shiba Inu’s growth. At the time of writing, SHIB was trading at $0.00002366, demonstrating an increase of over 4% in the past week. Despite the price rise, its market cap has been down by 2.59%, while its trading volume has been up by 1.79% in the past day. Given the momentum in the meme coin market, SHIB may be able to see more gains in the coming months. Featured image from iStock, chart from Tradingview.com
As the bearish pressures of the crypto market catches up to Shiba Inu, it has begun to manifest in other metrics of the meme coin. The most prominent in recent times is the SHIB burn rate, which has taken a significant nosedive during this time. Shiba Inu Burn Rate Crashes 91.94% In a surprising turn […]
In a significant move to commemorate Ethereum co-founder Vitalik Buterin’s historic SHIB token burn, Shiba Inu partner K9 Finance, the project’s official liquid staking productm has announced its plans to burn 410 million KNINE tokens, which has garnered widespread attention and appreciation within the cryptocurrency community. Vitalik Buterin’s Shiba Inu Burn Inspires K9 Finance to […]
Shiba Inu (SHIB) has expanded into the e-commerce market, scoring another major listing from the cryptocurrency payment platform, CoinGate. The payment company disclosed that it had boosted its cryptocurrency offerings with the doggy-themed cryptocurrency, allowing users to purchase traditional products like sports gear, gift cards and more. Shiba Inu New Listing In a recent X […]
The Shiba Inu team has issued a crucial warning to its community, alerting them to the presence of fraudulent groups seeking to exploit the trust of SHIB community members for personal gain. This cautionary message from the team arrives as the cryptocurrency scored another significant listing milestone. SHIB Team Cautions Against Scams The Shiba Inu […]
Major cryptocurrencies have exhibited an interesting price dynamic in the past few days. According to data from Coinmarketcap, the majority of cryptocurrencies, including Dogecoin, have posted losses in the past 24 hours. On the other hand, some of these cryptocurrencies are still on a price increase when looking at a larger timeframe and many more […]
Shiba Inu (SHIB) has demonstrated resilience despite recent market downturns. Data reveals that roughly over 700 trillion SHIB tokens held by more than 650,000 wallet addresses remain profitable, reflecting steadfast confidence among holders in the token’s long-term value. Shiba Inu Market Resilience Amid Volatility Recent on-chain analytics have uncovered an interesting trend among Shiba Inu investors. Despite a general dip in SHIB’s market price, investors continue to hold a substantial volume of tokens—totaling 733 trillion—showing unrealized gains. Related Reading: Massive SHIB Movement Ignites Market Speculation: Is A Big Surge On The Horizon? These holdings, maintained by approximately 653,530 individual wallets, were acquired at prices ranging from $0.000002 to $0.000022, averaging out at $0.000011. This indicates not only a significant level of acquisition but also a broad base of investors who entered the market at lower valuations, positioning themselves in profit despite the coin’s fluctuating fortunes. The “Break Even Price” indicator, a crucial tool derived from on-chain data, suggests that many SHIB holders are still in the green financially. This could point to a collective strategy among holders to weather short-term price movements, with an eye on potential long-term returns. Such data reinforces the notion of SHIB as more than just a speculative asset, hinting at a deeper conviction among its community regarding the token’s future potential. Long-Term Outlook And Ecosystem Developments Despite a decline of 5.2% over the past week and 11.9% over the past month, Shiba Inu has seen a recent uptick of 3.3% in its price in the last 24 hours, trading at $0.00002389. The SHIB price is moving sideways on the 4-hour chart. Source: SHIB/USDT on TradingView Notably, this upward trajectory in value mirrors the asset’s trading volume, which has also surged from below $400 million last week to above $600 million as of today. This recovery aligns with significant developmental strides within the Shiba Inu ecosystem, particularly the completion of a hard fork in its Layer-2 blockchain solution, Shibarium. The Shibarium hard fork, executed at block height 4504576, introduced enhancements aimed at improving usability and transaction efficiency. This was a response to community feedback advocating better performance and lower costs. This upgrade is expected to boost transaction speeds and stabilize transaction fees on Shibarium, making costs more predictable for users. Related Reading: Crypto Analyst Predicts 244% Shiba Inu Rally Based On Bull Flag Moreover, the recent hard fork’s dual focus—enhancing the Bor and Heimdall components of Shibarium—aims to refine the platform’s technical infrastructure. 1/ #Shibarium has successfully completed its hard fork at block height 4504576! Get ready for: •Blazing-fast transactions! ⚡ •Predictable gas fees! ⛽️ pic.twitter.com/oQrtF3OMTe — Shibarium Network (@ShibariumNet) May 2, 2024 By improving the calculation of state sync confirmation and ensuring deterministic finality, the Shiba Inu team appears keen on improving the network’s reliability and scalability. Featured image from Unsplash, Chart from TradingView
Pepe (PEPE) has been one of the best-performing crypto assets since the beginning of the year, with a year-to-date (YTD) gain of over 400%. This crypto analyst predicts that PEPE can continue this impressive run and become the largest meme coin by market cap, ahead of Dogecoin and Shiba Inu. PEPE To Flip Dogecoin (DOGE) And […]
In a recent X (formerly Twitter) post, Shiba Inu marketing lead, Lucie shared a blog highlighting the date for the upcoming launch of Shibarium’s network hard fork. According to Lucie, the new update will deliver fresh and advanced features for community members and users within the Shibarium ecosystem. Shiba Inu’s Shibarium Hard Fork Date Revealed […]
Crypto analyst Crypto Noan has revealed a profit-taking strategy that crypto investors can adopt as they invest in Shiba Inu (SHIB), the second-largest meme coin by market cap. This strategy would be most beneficial to those who need guidance in securing profits as the meme coin continues to make significant price gains. Price Levels To […]
In an interesting turn of events, the Shiba Inu burn rate has received a massive boost in the last day. This is a welcome change to the slow momentum which the burn initiative had recorded over the last week, proving that the SHIB community is coming back to the table to burn more tokens. Shiba […]
The Shiba Inu ecosystem has been subjected to updates in the last few days as developers look to bolster the cryptocurrency’s prospects in the long term. Behind the scenes, on-chain data also reveals a bullish trend among SHIB investors, with the exchange balance dropping to new lows. Adding to the bullish case is the fact that SHIB’s price has bounced right off the key 0.618 Fibonacci ratio level, otherwise known as the “golden ratio.” These metrics, in combination, are particularly setting up the stage for a price surge that could see SHIB surging in the current market cycle. Exchange Balances For SHIB Hit New Lows According to CryptoQuant’s SHIB analytics dashboard, the total SHIB reserve on crypto exchanges has been on a free fall for the majority of this year. At the time of writing, the SHIB exchange reserve now stands at around 150 trillion tokens, compared to 164 trillion SHIB tokens on February 29. This means the total number of SHIB tokens in crypto exchange reserves has fallen by 14 trillion SHIB in less than two months. Related Reading: Analyst Says XRP Price Will Reach $100, But This Needs To Happen First The drop in exchange reserve is somewhat of a bullish indicator for SHIB, as it shows that holders are less liable to sell their coins and are instead opting instead to store them in private wallets. This outflow from exchanges has particularly been compounded in the last few weeks, with on-chain data revealing an increase in activity from Shiba Inu whales. An example is a recent accumulation of 237.8 billion SHIB tokens worth $6.9 million by a new whale address. Furthermore, recent price action in recent months has seen the price of SHIB bouncing off the 0.618 Fibonacci ratio level on April 14th, setting up the stage for a golden ratio rebound. This is a key support level according to the Fibonacci tool, and the bounce indicated the start of a major uptrend. SHIB encountered this bounce on April 15 around the $0.00002117 price level after a correction of over 51% from its yearly high of $0.00004400. Shiba Inu To $0.0001? At the time of writing, SHIB was trading at $0.00002702, up by 19% in the past seven days. Interestingly, the SHIB price has increased by over 27% since its bounce above the golden cross to confirm the crypto has fully reversed into a bullish sentiment. Related Reading: XRP Wallets Holding At Least 1 Million Coins Nears All-Time High As Sentiment Improves Fundamentals point to a continued SHIB price surge in the coming days amid mainstream interest and adoption. One of these is the recent $12 million investment raised by the Shiba Inu team to develop a layer-3 blockchain on top of Shibarium. With supply on exchanges diminishing and SHIB building surging after bouncing off a key Fibonacci level, the ingredients are in place for a rebound to $0.00004400 or higher. If SHIB can clear this resistance, it opens up a run toward $0.00008616, which would represent a 218% increase from today’s price. SHIB price sitting at $0.000026 | Source: SHIBUSDT on Tradingview.com Featured image from Crypto News Flash, chart from Tradingview.com
Shiba Inu has constantly managed to trade above $0.000021 last week amidst an ongoing tussle between the bulls and bears. On-chain data has indicated some serious whale movements during this period, with trillions of SHIB shuffled in and out of exchanges. The price of SHIB went through a decline earlier in the week from an extended selloff in the previous week. As the week progressed, things started to change into bullish action during the weekend up until a resistance just below $0.000028. Interestingly, on-chain transaction data from whales shows the major holders moved trillions of SHIB over the weekend, with 3.19 trillion SHIB movement in the past 24 hours. Recent on-Chain Data Shows Large SHIB Whale Activity According to IntoTheBlock’s large transaction volume data, the number of Shiba Inu transactions over $100,000 went through a major uptick last week, with the value of transactions greater than $100,000 reaching $661.5 million. On April 19th alone, SHIB transactions in this cohort reached 6.36 trillion SHIB worth $144.76 million. Large transactions in the last 24 hours particularly reached 3.19 trillion SHIB worth $82.49 million. Related Reading: Were Bitcoin Miners Behind The BTC Price Crash Below $60,000? With so much SHIB on the move, the big question is where are these whales sending their tokens. Interestingly, on-chain data showed large transactions consisting of a to and fro movement into and outside exchanges, indicating mixed feelings from large holders. A notable transaction involved the movement of 100 billion SHIB tokens into a crypto exchange on Sunday. Speculations from investors are that this could be a potential selloff from the whale, suggesting that there is a possibility of a price decline in the short term. What Does This Mean For Shiba Inu Holders? For average SHIB investors, whale activity can be both promising and worrying. While more large holders and transactions may indicate growing mainstream interest and adoption of the token, their moves can also significantly impact price. A positive price movement is enjoyed by Shiba Inu when whales are accumulating from exchanges. However, movement into exchanges suggests a selloff, as in the case of the 100 billion SHIB transaction on Sunday. Related Reading: Ethereum Enters Accumulation Phase As $500 Million ETH Leave Exchanges At the time of writing, SHIB is trading at $0.00002726, a 6.65% increase from 0.00002556 in the past 12 hours. Shiba Inu is also up by 16% on a larger seven-day timeframe and is on the way to displacing Cardano in the market cap rankings. SHIB’s price action this week should be full of action as the week unfolds, with the bulls now retesting a resistance at $0.000028. According to IntoTheBlock’s “In/Out Of The Money” metric, 6.62 trillion SHIB tokens were bought at this price level, with 28,760 addresses waiting to make a profit. A break over this price level indicates further resistance levels at $0.000029 and $0.000030. SHIB price at $0.000026 | Source: SHIBUSDT on Tradingview.com Featured image from The News Crypto, chart from Tradingview.com
Despite experiencing steep price declines in the past few weeks, popular Shiba Inu marketing team member, Lucie, has remained optimistic about SHIB’s price fundamentals, stating that the cryptocurrency is still on track for a supercycle. SHIB Set For A Major Bullish Cycle On Wednesday, April 17, Lucie took to X (formerly Twitter) to shed light […]
The Shiba Inu ecosystem has hit another remarkable milestone, surpassing four million total addresses on its network. This achievement comes amidst fluctuations in the cryptocurrency’s price and a string of sharp declines that have pushed its value below market expectations. Shiba Inu Total Addresses Hit 4 Million The total number of addresses on Shiba Inu […]
Shiba Inu saw a lull in its burn rate last week, which coincided with the decline in the price of the meme coin. During this time, the number of tokens being burned on a daily basis dropped tremendously, causing the burn rate to suffer. However, as this week draws to a close, there has been […]
The entirety of the crypto market is experiencing a bloodbath right now after the Bitcoin price dumped below $70,000 and Dogecoin and Shiba Inu are not left out. Both meme coins have seen their values tumble by at least 5% in the last day alone, leaving investors to wonder what could be behind this price […]
Shiba Inu (SHIB) could be on the brink of a price recovery following a bullish reversal in critical on-chain metrics. This also includes the burn rate, with a recent development showing a sustained increase in the number of SHIB tokens burned. Shiba Inu Demand Looks To Be On The Rise There has been an increase in Shiba Inu whale activity these past few days. On-chain data shows the transfer of 1.7 trillion SHIB to a Robinhood-linked wallet. Transferring such an amount to a centralized exchange will usually raise fears about an incoming dump on the market, but that doesn’t look to be the case this time around. Related Reading: Expert Maps Out Timeline For The XRP Price To Cross $1,000 Instead, Robinhood looks to be accumulating as many SHIB tokens as possible to meet customers’ demand. This also seems to be the case with Binance, the largest crypto exchange by market share, which recently transferred over 464 billion SHIB from one of its wallets to another. These large transactions also come at a time when Bitcoinist recently reported a Shiba Inu whale that spent $19 million to purchase 692 billion SHIB. This whale in question also looks to be holding for the long term as they immediately transferred their SHIB holdings to a non-custodial wallet for safekeeping. The increase in whale activity presents a bullish outlook for the Shiba Inu ecosystem, which could aid the meme coin’s price recovery. SHIB had previously experienced a price dip thanks in part to multiple on-chain metrics, which turned red last week. One of those metrics included the number of large transactions on the network, which Bitcoinist reported had declined by over 10%. Shiba Inu’s Burn Rate Increases By Over 1,200% Data from the burn tracking website Shibburn shows that SHIB’s burn rate has surged by 1287% in the last 24 hours, with 135 million tokens burnt during this period. Furthermore, there has been a sustained increase in these SHIB burns, with the burn rate rising by 129% in the last seven days. Related Reading: Skybridge CEO Says Bitcoin Can Reach Half Of Gold Market, How Much Will BTC Be? This is significant considering these token burns’ impact on SHIB’s price. The sustained increase in the SHIB burns is also undoubtedly a welcome development, considering the decline these past few weeks. Interestingly, the SHIB community has pulled this off while Shibarium’s daily transactions continue to lag. However, activity on the layer-2 network is expected to pick up soon as the Shiba Inu team actively promotes it. Decentralized Exchange (DEX) WoofSwap also recently announced that they have introduced the SHIB -314 token protocol on Shibarium, which could also help drive up the number of transactions on the network. At the time of writing, SHIB is trading at around $0.00002884, up in the last 24 hours according to data from CoinMarketCap. SHIB price holding $0.000028 | Source: SHIBUSDT on Tradingview.com Featured image from Finbold, chart from Tradingview.com
Shiba Inu experienced a lull in its rally over the past few weeks, causing investor interest to decline in the asset. However, this is beginning to change as investors, especially whales, are back to filling up their bags once again. The most notable of these buys is a whale who bought 692 trillion SHIB from […]
Shiba Inu (SHIB) is at risk of further price declines based on several on-chain metrics, signaling a bearish sentiment in the ecosystem. This could no doubt present a setback for the meme coin, which is showing signs of recovery following a significant price correction. Shiba Inu Network Growth Is On The Decline According to data […]
The Shiba Inu burn rate has turned negative after a rather good week of momentum. This downturn in the burn rate is a deviation from the established trend this week and could have something to do with the decline in the SHIB price during this time. Shiba Inu Burn Rate Drops 28% The burn rate […]
The price of Shiba Inu has been predicted to experience a major increase amidst the 2024 bull market that has propelled various meme coins to new all-time highs. This forecast puts the spotlight on the doggy-themed cryptocurrency, highlighting a potential for more increases in its price value. SHIB Expected To Rise In April Machine learning […]
Shiba Inu (SHIB) has dipped below $0.00003 again after testing the price level for more than 48 hours. Despite this, the cryptocurrency has largely exhibited signs of resilience from the bulls after its strong price surge in early March, prompting analysts to persist on a bullish outlook. According to a crypto analyst known as Xanrox, […]
Recent reports have indicated an alarming increase in scam attacks targeting Shiba Inu community members, aiming to exploit the community’s enthusiasm for fraudulent purposes. The latest wave of these malicious acts has specifically focused on investors of Shiba Inu’s newest ecosystem token, K9 Finance (KNINE). SHIB Scam Alerts On The Rise Shibarmy Scam Alerts, a […]
Dogecoin and Shiba Inu are trending higher than they were a year ago, but they are still a long way from their 2021 all-time high prices. While they both feature prominently in the top 20 cryptocurrencies by market cap, they are still far below the market cap of Ethereum, the second-largest cryptocurrency by market cap. […]
Shiba Inu (SHIB) lead developer, Shytoshi Kusama, recently told Ethereum’s co-founder Vitalik Buterin that he should expect more improvement from the SHIB ecosystem soon. This comes in response to Vitalik’s comment in which he praised the meme coin. More To Come From SHIB Kusama responded to Vitalik in an X (formerly Twitter) post, in which […]
Shiba Inu (SHIB) whales look to be at it again following large transactions involving the meme token in the last 24 hours. As expected, these transactions have raised concerns that crypto investors might be looking to offload their tokens on the market. Shiba Inu Whales Move Billions Of SHIB On-chain data shows that Shiba Inu […]
The Shiba Inu (SHIB) team recently released the latest edition of ’The Shib’ magazine. As expected, it features exciting updates from the team on milestones achieved in their quest to grow the ecosystem. Shiba Inu’s Partnership With Binance Pay The Shiba Inu team drew the SHIB community’s attention to the fact that the SHIB token […]
Current market dynamics have seen Shiba Inu (SHIB) shedding off a lot of its gains earlier in the month. SHIB kickstarted a price surge on February 29th at $0.00001178 to reach $0.00004456 for the first time since December 2021, representing a surge of over 278% in the space of three days. However, it seems investors are now pulling away from the meme cryptocurrency, and the bull frantic earlier in the month seems to be disappearing. Interestingly, on-chain data indicates that a chunk of over 23 trillion SHIB has moved from the hands of long-term holders into the wallets of short-term holders in the past four days. This cohort of addresses is known to hold their SHIB tokens for quick returns instead of holding them long-term. Shiba Inu Price Downtrend Expected to Extend Beyond 45% SHIB has been on a general downtrend since March 5 with the formation of lower highs in cases of brief uptrends. Notably, the crypto has dropped by 46% since attaining this two-year high. At the time of writing, SHIB is trading at $0.000024, down by 4.79% and 27% in the past 24 hours and seven days, respectively. Related Reading: Is Ripple Behind The XRP Price Crash? Massive Selling Spree Sparks Concern According to data from IntoTheBlock, Short-term Shiba Inu owners have now increased their possession by 23 trillion SHIB in the past four days, signaling lower prices ahead. According to ITB’s “Balance by Time Held” metric, the balance held by traders holding for less than a month has increased by 385% in the last 30 days. At the same time, long-term holders (more than a year) and cruisers (holding for one to 12 months) have reduced their balance by 9.27% and 11.30%, respectively. This interesting movement demonstrates the current dynamic among the various cohorts of SHIB traders. The decrease in long-term holder balance indicates they might be taking profit after holding for so long. At the same time, so much of the supply is moving into the hands of short-term traders seeking quick profits, making SHIB vulnerable to continued selloffs. Technical Analysis: What’s Next For SHIB’s Price? The overall technical indicators for SHIB point to short-term correction unless there is a change in bullish sentiment. The meme token has now broken below support at the $0.000026 price level and is now moving towards $0.000023, a level that has acted as a major resistance earlier in the month. Related Reading: Crypto Report Says ‘Alameda Gap’ Is Gone After Bitcoin Rally, What This Means On the other hand, several fundamental factors point to a potential price recovery and continued growth for the meme coin. Despite its recent correction, the price of SHIB is still up by 144% in the past 30 days, which shows the uptrend can resume anytime soon. SHIB price rallies to $0.000026 | Source: SHIBUSDT on Tradingview.com Featured image from The Market Periodical, chart from Tradingview.com