ReportWire

Tag: SHIB

  • Shiba Inu Keeps Sliding As Team Counters With Optimism

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    Shiba Inu’s price action has been harsh lately. It plunged to about $0.0000063588 over a single weekend, wiping away months of gains and leaving many holders uneasy.

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    Market moves like that are driven by big-picture forces — macro weakness, lower appetite for altcoins, and a general pullback across crypto.

    Yet inside the project’s camp, voices are still billing a comeback as likely. That contrast between numbers on a chart and upbeat messages from the team is where most of the current debate sits.

    Lucie Voices Confidence

    According to posts by the project’s marketing lead, Lucie, SHIB “will come back” in time. She argues that networks built and kept alive by active communities have a stronger chance of lasting than tokens pushed mainly by paid promoters.

    Reports say she also hinted at fresh activity coming from developer Kaal Dhairya, and the lead developer Shytoshi Kusama has been linked to moves toward artificial intelligence and NFT-related work for the broader lineup that includes SHIB, TREAT, BONE, and LEASH.

    Those plans are being positioned as part of a longer-term effort to give the ecosystem more purpose beyond speculation.

    Community And Developer Activity

    There is some actual work happening, though it is mostly in early stages. Updates were teased but details remain thin.

    Many community members keep watching the developers’ channels for concrete timelines and product launches. At the same time, Lucie has repeatedly told people to only risk money they can spare and reminded followers that her words are not financial advice.

    SHIB market cap currently at $3.8 billion. Chart: TradingView

    That caution was repeated after the token slid back from $0.00001265 in March 2025 to fresh lows more recently. Signals from developers are being noticed, but they have not yet translated into sustained buying pressure.

    Analysts Call For Realism

    Analysts and some community figures pushed back. Zach Humphries, among others, warned that being hopeful is fine, but it should not replace hard thinking about risk.

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    He noted that altcoins have underperformed for a long stretch since 2021 and that relying solely on team statements is risky. Diversification was urged.

    Some critics said the marketing tone is upbeat and that it can boost morale, yet market fundamentals need stronger backing to flip sentiment.

    Opinions in the space were split: some see potential if new features land and adoption grows, while others say the token’s long slump shows that talk alone won’t lift price.

    Featured image from thewave, chart from TradingView

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    Christian Encila

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  • Shiba Inu Whales Are On The Move Again, 361 Billion SHIB Stuns Community

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    Shiba Inu’s on-chain data shows an interesting dynamic among SHIB holders and their relationship with crypto exchanges. Recent metrics from CryptoQuant show sustained withdrawals from exchanges alongside a noticeable increase in burn activity in the past few days, all of which are signs of tighter supply conditions. 

    This dwindling exchange supply reflects hundreds of billions of SHIB tokens removed from exchanges in recent days in a trend that dates back up to a year.

    Massive Decline In SHIB Held On Exchanges

    According to data from on-chain analytics platform CryptoQuant, SHIB exchange reserves have declined noticeably as whale wallets withdraw large amounts of tokens from trading platforms. On January 16, the total Shiba Inu exchange reserves stood at approximately 82.6 trillion SHIB. As of January 20, that figure has fallen to about 82.23 trillion SHIB.

    This change means that roughly 370 billion SHIB has been removed from exchanges in just a few days. Such movements are typically attributed to whale activity, as transfers of this size are rarely caused by retail traders. When whales move SHIB off exchanges, the tokens are often sent to cold storage or long-term holding wallets, reducing the amount of supply immediately available for selling.

    SHIB Exchange Reserve. Source: CryptoQuant

    This short-term outflow also fits into a much larger trend of outflows from crypto exchanges since January 2025. CryptoQuant data shows that SHIB exchange reserves were close to 140 trillion tokens in early January 2025. Since then, however, SHIB whales have steadily reduced exchange balances, and this has pushed the reserves down to current levels around 82.2 trillion SHIB. The consistency of this decline suggests deliberate accumulation or long-term positioning by large holders.

    Shiba Inu 2

    SHIB Exchange Reserve. Source: CryptoQuant

    Whale Activity Correlates With Increased SHIB Burn Rates

    Burn activity across the Shiba Inu network has intensified alongside whales withdrawing SHIB from exchanges. According to recent on-chain data, the SHIB burn rate has witnessed a jump of more than 1,200% in the past 24-hour period, with almost 29 million SHIB permanently removed from circulation. 

    Although burns are not exclusively initiated by whales, large holders often play a role by sending large tokens to burn addresses or interacting with ecosystem mechanisms like Shibarium that lead to burns. Data from the burn tracker website Shibburn shows that the bulk of these burns were made with one single transfer of 28 million SHIB tokens sent to burn address CA.

    Shiba Inu 3

    SHIB Burn Rate. Source: Shibburn.com

    According to CryptoQuant data, over 51.2 billion SHIB tokens have been withdrawn from crypto exchanges in the past 24 hours alone. So far, Shiba Inu’s price action has not made a decisive move in response to these changes. At the time of writing, Shiba Inu is trading at $0.00000794, up by 1% in the past 24 hours but down by 7.6% in a seven-day timeframe.

    Shiba Inu 4

    SHIB Exchange Netflow. Source: CryptoQuant

    Shiba Inu price chart from Tradingview.com
    SHIB price shows bearish movement | Source: SHIBUSDT on Tradingview.com

    Featured image created with Dall.E, chart from Tradingview.com

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    Sandra White

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  • Shiba Inu Open Interest Crash To 2024 Levels, Is It Game Over For The Meme Coin?

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    The Shiba Inu open interest has been one of the worst-performing among the top cryptocurrencies by market cap in the year 2025. While there has been a general increase in open interest across the likes of Bitcoin and Ethereum, pulling the market up with them, Shiba Inu has not followed this trajectory. Instead, the meme coin’s open interest has crashed significantly, making new 2025 lows in the process.

    Shiba Inu Open Interest Crashes Below $100 Million

    At the start of the year, on January 16, 2025, the Shiba Inu open interest had hit a new all-time high above $519 million despite the SHIB price action remaining relatively muted. It wasn’t long until the open interest began to decline, and it has been mostly downhill from there since.

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    By the start of February 2025, the Shiba Inu open interest had crashed by more than 50%, recording one of the sharpest declines in the market. However, the open interest had managed to stay above the 2024 lows as the SHIB price fluctuations kept traders interested.

    Now, however, the majority of the open interest that was seen in Shiba Inu at the start of the year is almost completely gone. Data from the Coinglass website shows that the open interest has now fallen below $100 million for the first time in 2025, marking a new yearly low.

    Source: Coinglass

    The current average of around $89 million translates to an over 80% decline in the last 9 months, painting a similar picture to the alt coin’s price, which is down 88% from its 2021 all-time highs. As this decline continues, it continues to impact the price, affecting its ability to stage a meaningful recovery.

    SHIB Could Be At A Pivotal Point

    As mentioned above, the last time that the Shiba Inu open interest was this low was back in 2024, but the interesting thing is that periods of low interest have often preceded some of the biggest moves. Back in August 2024, the Shiba Inu open interest had fallen to its lowest levels since 2023, but the next three months would see a rapid increase in both interest and price.

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    Times of low interest, such as these, have often been breeding grounds for accumulation ahead of the next move. Thus, the Shiba Inu open interest dropping to yearly lows could be setting the stage for another price rally.

    Shiba Inu price chart from Tradingview.com
    SHIB price action remains muted | Source: DOGEUSDT on Tradingview.com

    Featured image from, chart from Tradingview.com

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    Scott Matherson

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  • Shiba Inu Looks Weak—But Hides A 2,000% End-Cycle Breakout: Analyst

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    Popular technician Charting Guy (@ChartingGuy) calls Shiba Inu “weak and choppy” and suggests the token may not break out until late in the current crypto cycle. Sharing a weekly Shiba Inu chart, he wrote on Oct. 26, 2025: “SHIB has been weak and choppy all cycle. Won’t do anything until the end imo.”

    How High Can Shiba Inu Price Go?

    The below TradingView chart is a weekly SHIB/USD study anchored to a Fibonacci ladder. The price marker on the right rail reads $0.000010205, placing SHIB fractionally below the 0.236 retracement band annotated at $0.000011043.

    Above that, the chart maps successive overhead levels at 0.382 near $0.000016434, 0.5 around $0.000022661, 0.618 near $0.000031247 and 0.786 at about $0.000049369. The red 1 line flags $0.000088410, with higher extension markers plotted at 1.272 ≈ $0.000185406, 1.414 ≈ $0.000272917 and a terminal 1.618 ≈ $0.000475605.

    Shiba Inu price prediction | Source: X @ChartingGuy

    A stylized projection trace on the chart depicts a late-cycle, near-vertical advance that only materializes after a prolonged base and then stalls inside the 1.0–1.272 cluster before breaking above the 1.272 Fib extension and topping below the 1.414 Fib extension roughly at $0.000022; the path visually reinforces the author’s contention that SHIB underperforms until the “end.”

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    In a separate post on Oct. 24, Charting Guy ranked market structures across majors and large-cap altcoins, explicitly placing SHIB in his “Bad Looking Charts” bucket while labeling Bitcoin, Ether, XRP, Solana, BNB and Stellar as “Good Looking Charts.” His list read, in part: “Good Looking Charts: BTC, ETH, XRP, SOL, BNB, XLM … Decent Looking Charts: XDC, DOGE, PENGU, ADA, ONDO, SUI, AAVE, LTC … Eh Looking Charts: PEPE, FLOKI, FLR, LINK, BCH … Bad Looking Charts: SHIB, WIF, ETC, AVAX, FET, RENDER, INJ, CRV, ALGO, SOLO, COREUM, NEAR, VET, COMP, DOT, IOTA, FIL, ATOM, And many more.”

    What To Expect

    The technical message is unambiguous: on a weekly timeframe, SHIB remains capped beneath early Fibonacci thresholds that many chartists treat as momentum gates. Remaining below 0.236 typically signals that price has yet to reclaim even the shallowest retracement of the prior cycle; clearing it often opens room to test the 0.382–0.5 midpoint zone where trends either accelerate or fail.

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    In Charting Guy’s map, structurally meaningful inflection areas stack tightly from roughly $0.000016 to $0.000031, with the 0.618 level near $0.000031 attributed the role of a trend-confirmation threshold. The cycle-top roadmap he drew concentrates risk and reward into the higher cluster around $0.000088 to $0.000185, a range often watched by Fibonacci practitioners for exhaustion and distribution in late-stage moves. However, a rise to $0.00022 could still mean an incredible upside for SHIB of around 2,055.81%—a roughly 20.56-fold increase.

    Contextually, his relative-strength table is just as important as the levels. By grouping SHIB with other “bad looking” structures while upgrading Bitcoin, Ether, XRP, Solana and BNB, he is signaling an expectation that market breadth will remain narrow and quality-led before any speculative rotation into meme-beta like SHIB. That framework aligns with his succinct call that SHIB “won’t do anything until the end,” implying a sequencing view rather than a categorical dismissal.

    At press time, SHIB traded at $0.00001046.

    Shiba Inu price
    SHIB bounces from the demand zone, 1-week chart | Source: SHIBUSDT on TradingView.com

    Featured image created with DALL.E, chart from TradingView.com

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    Jake Simmons

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  • Shiba Inu Price In Trouble? SHIB Team Goes After Attackers After Major Bridge Compromise

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    The Shiba Inu community is on high alert after a major compromise of the Shibarium bridge over the weekend. What began as reports from blockchain security firm PeckShield quickly escalated into a confirmed attack involving validator key leaks, flash loans, and malicious state changes. Developers have scrambled to contain the breach by freezing 4.6 million BONE tokens, but the situation has revealed vulnerabilities in the security of Shiba Inu’s infrastructure and has had an impact on Shiba Inu’s short-term price action.

    Developer Confirms Attack Details

    Taking to the social media platform X, Shiba Inu developer Kaal Dhairya revealed that the incident was probably planned for months and executed using a flash loan to acquire 4.6 million BONE tokens. After gaining access to validator signing keys, the attacker was able to gain majority control and approve a malicious state to siphon assets from the Shibarium bridge. Fortunately, the stolen BONE was delegated to Validator 1, leaving it locked by unstaking delays and giving the team a narrow opportunity to intervene.

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    Dhairya confirmed that the developers immediately froze the compromised funds, suspended all staking and unstaking activity, and transferred stake manager reserves into a hardware wallet secured by a 6/9 multisignature setup. However, the moves were temporary until the extent of the validator compromise could be confirmed, but the developer assured the community that protecting assets was the team’s top priority.

    The breach drew quick attention from multiple blockchain security outfits. PeckShield, a leading blockchain security company, posted an Etherscan transaction showing the breach by the ShibaSwap exploiter on X. 

    However, Kaal Dhairya noted that the Shiba Inu team is working with PeckShield, Hexens, and Seal 911 to continue investigations on the incident and the next steps to take.

    According to a separate analysis by Tikkala Security on X, the losses appear to extend beyond the BONE freeze. The post claimed that multiple signer keys appear to have leaked in Shibaswap, which caused an estimated $2.8 million loss. Tikkala Security pointed to an attacker address on Etherscan and explained that the exploit involved repeatedly submitting legitimate Merkle leaf exit requests tied to a root signed by ten different addresses.

    Market Impact And Price Outlook

    Despite the severity of the breach, BONE’s market price spiked by over 20% in the hours following the freeze announcement, and this is likely due to the rapid containment. However, the BONE price has calmed, and the breach could have long-term effects that extend beyond the next few days. 

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    The Shibarium bridge is important to Shiba Inu’s strategy. Any lingering doubts about validator integrity or the scope of the losses could weigh heavily on the price of Shiba Inu and BONE.

    As it stands, both the Shiba Inu and BONE prices have reversed gains in the past few hours. At the time of writing, BONE is trading at $0.1959, down by 4.4% in the past 24 hours, but still up by 24% from its price point seven days ago. Shiba Inu, on the other hand, is trading at $0.00001305, down by 7% in the past 24 hours.

    SHIB trading at $0.000013 on the 1D chart | Source: SHIBUSDT on Tradingview.com

    Featured image from iStock, chart from Tradingview.com

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    Scott Matherson

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  • Here’s What Powell’s Possible Rate Cuts Could Mean For The Shiba Inu Price

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    The crypto market moved quickly after Jerome Powell hinted that interest rate cuts may finally come. Many assets moved immediately, and the Shiba Inu price was among the top gainers. According to this post on X, more than just a price chart, this moment reminded many that SHIB’s strength lies in market timing and its loyal community support.

    Powell’s Hint Sparks Instant Shiba Inu Price Momentum

    When Powell suggested that long-awaited rate cuts may soon be possible, the market responded quickly. Investors waiting for a clear signal rushed to position themselves, and SHIB wasted no time showing its power. The coin’s price surged with a 12% green candle in a quick move that shows how possible rate cut hints from policymakers can send crypto prices soaring fast.

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    It was not just a random jump in price but a reminder of how closely tied SHIB is to larger economic shifts. When the Federal Reserve shows signs of easing, money tends to flow into risk assets, and SHIB has proven it can move with conviction. The sharp rise showed that the price can move much more quickly when the proper signals appear and that the meme coin is more active and responsive than many expected.

    The move suggests global signals could directly influence the Shiba Inu price. In this case, just a few words from Jerome Powell were enough to spark a strong reaction as his comments spread across markets and caught the eye of traders everywhere. It shows that when there are hints of a possible US interest rate cut, SHIB reacts quickly and moves in to align with the market trend.

    The ShibArmy Behind Shiba Inu’s Price Strength

    The X post states that price action can be exciting, but its community truly makes SHIB stand out. While price swings often draw attention, Shiba Inu’s true strength lies in its community. The ShibArmy has shown steady support even during uncertain times, and this loyalty helps SHIB stay strong and resilient in the crypto market. Instead of waiting for the world to tell them when to move, the ShibArmy stays active and prepared.

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    This strength is not new. From the beginning, Ryoshi’s vision for Shiba Inu was more than charts and numbers; it was about creating a project and a community that could endure and be ready when the world finally noticed. The latest reaction to Powell’s hint reflects that same vision, with holders not simply chasing prices but being committed to the bigger picture.

    The ShibArmy understands that charts can rise and fall, but true resilience comes from staying together and believing in the long-term story. Powell’s possible rate cuts may have lit the spark for the latest surge, but the community’s loyalty keeps the fire burning. As others wait on the sidelines for more signals, SHIB’s supporters repeatedly prove they are always ready for what comes next.

    SHIB erases gains triggered by Powerll’s speech | Source: SHIBUSDT on TradingView.com

    Featured image from Dall.E, chart from TradingView.com

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    Sandra White

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  • How High Can Shiba Inu Climb In 2025? Analyst Gives Candid Outlook

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    In a video published earlier this week titled “SHIBA INU — HOW HIGH WILL PRICE BE IN 2025?!! MY HONEST THOUGHTS!,” the crypto analyst behind the LuckSide Crypto channel argued that Shiba Inu’s upside for the remainder of 2025 depends almost entirely on whether retail investors finally return to crypto in size.

    “Retail has not shown up yet,” he said, adding that the share of people in crypto “remains very much unchanged from last market cycle,” which he put at “5 to 6% of the world.” In his view, without a fresh retail wave, Shiba Inu (SHIB) can rise but is unlikely to break its longer-term range; with a retail surge, he believes the token could “drop a zero” and set a new all-time high.

    LuckSide situated SHIB’s performance within a broader meme-asset rotation. He contended that the top tier of memes has been diluted as new entrants and brands pulled liquidity from incumbents: “When we look at Dogecoin, we’ve had Shiba Inu pull some of that market cap from Doge… Pepe has pulled some market cap from SHIB… and as each one of these has entered the space and done well… it’s just sucked… some of the life out of these assets.” He emphasized that this dynamic does not mean “SHIB is dead,” only that the ceiling has lowered until new participants arrive.

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    Macro headwinds dominated his account of the past 18 months. He summarized 2025 as a year of “tariffs, economic uncertainty, quantum computing concerns, [and] black swan events,” and described 2024’s late spring and summer as a period of “high interest rates” and “slowing down economy,” with overhangs such as “German government dumping” and “Mt. Gox concerns.” Against that backdrop, he argued, meme coins—“a small percentage of the total market”—typically require “a lively” market and “adoption taking place” to outperform. He framed the current meme-coin capitalization at “$69.88 billion versus the total market cap of crypto which is 4 trillion” to underline how dependent the niche is on incremental retail flows.

    How High Can Shiba Inu Still Go In 2025?

    On SHIB-specific fundamentals, LuckSide pointed to what he sees as constructive on-chain behavior: “We’ve seen whale accumulation except for like the last week or so,” and “huge supply removal from exchanges.” He also reiterated a long-standing call about price resilience during the drawdown: “Shiba Inu has not dropped off a zero. While many people said it would, I called… that Shiba Inu would never add back a zero.” Those signals, he said, have “set the table for basically a big Shiba Inu boom” if and when retail returns.

    His 2025 path splits into two scenarios. If retail continues to lag, he expects SHIB to remain capped within its broader trend, even if reflexive rallies occur: “Let’s say we get up here somewhere in September… that’s… kind of sucks in the grand scheme of things,” he said, arguing that such a move would still leave the token range-bound.

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    If retail adoption is “actually triggered and you see the masses flow into the market… which… is when the meme-coin percentage of market cap really tends to surge,” he believes SHIB could “drop a zero, moving past $0.0001 for the first time ever.”. In his words, “FOMO is a hell of a drug. Supply shock is a hell of a thing to witness in the market.”

    On timing, LuckSide sees a narrowing window in late 2025 into early 2026 for a renewed meme-coin phase. “Whether that’s here in 2025 still, whether that’s early 2026, I think our window is really closing to where the market is actually going to take off and you’re going to see this big meme-coin boom yet again,” he said. Until then, he counseled patience and focus on on-chain support: “We just have to… understand that we need fundamentals to stay strong, and eventually things are going to work themselves out.”

    The bottom line of his “honest” assessment is conditional rather than numeric. Absent a fresh retail cohort, SHIB’s upside in 2025 may be incremental. With a decisive retail return—evidenced by “people downloading exchange apps and actually pushing capital into the space”—he argues the token could finally shed a decimal and set new highs. As he put it, “Retail will not always be delayed in getting to the markets… and when it does… we have the potential for SHIB to hit some pretty insane highs.”

    At press time, SHIB traded at $0.00001212.

    Shiba Inu price
    SHIB remains in downtrend, 1-day chart | Source: SHIBUSDT on TradingView.com

    Featured image created with DALL.E, chart from TradingView.com

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    Jake Simmons

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  • Shiba Inu Price Could Jump 200% To $0.00006 In October, Here’s Why

    Shiba Inu Price Could Jump 200% To $0.00006 In October, Here’s Why

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    Shiba Inu has been on an uptrend recently, after suffering losses for the better parts of the second and third quarters of the year. This recovery going into the new month plays into the high expectations for the meme coin, especially in Q4, when the altcoin’s price is expected to more than double. Using historical data, this report elaborates on why the expectations for the Shiba Inu price are high going into the last quarter of the year 2024.

    The Most Bullish Month Of The Year For Shiba Inu

    According to historical performance, the end of September is about to usher in the most bullish quarter of the year 2024 for Shiba Inu. This is especially true for the month of October which has never ended in the red for the meme coin. If this trend holds, then the SHIB price could continue to rise from here.

    Data from the CryptoRank website shows that the Shiba Inu price has seen an average return of +283.4% in the month of October. This average return could mean that the Shiba Inu price could triple by the time the month of October is over.

    Such a rise would put the SHIB price around the $0.00006 level this month. Additionally, if the recovery continues through the end of the year as expected, then the meme coin’s price could be seeing a new all-time high price before the year is over.

    Also, the last time that SHIB ended the month of September in the green was 2021, and the month of October went on to see an 833% increase in the space of one month. Now, 2024 is about to be the first in three years when the SHIB price is ending in the green again. A repeat of the 2021 trend would also send SHIB toward a new all-time high.

    Will Q4 End In Green Or Red?

    While the crypto market has often seen a good turn in Q4, the Shiba Inu price has not been very lucky after the month of October. According to CryptoRank, the average returns for November and December are in the negative with -15.9% and -6.12%, respectively.

    This doesn’t bode well for the Shiba Inu price and could suggest a good time to sell for investors. If this follows, then October could be a good time to move out of the altcoin and move back in in December. However, if the Bitcoin uptrend continues into the end of the year, it could see the SHIB price rise into the new year.

    Shiba Inu price chart from Tradingview.com

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    Scott Matherson

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  • Shiba Inu Symmetrical Triangle Pattern Reappears, Why A 200% Rally Is Possible

    Shiba Inu Symmetrical Triangle Pattern Reappears, Why A 200% Rally Is Possible

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    Este artículo también está disponible en español.

    Shiba Inu (SHIB) may be on its way to reclaim former price highs, as a crypto analyst identified as the ‘Charting Guy’ has confirmed the reappearance of a unique symmetrical triangle pattern on the SHIB price chart. A breakout from this symmetrical triangle could see Shiba Inu potentially rallying above 200% from its current price. 

    Shiba Inu Triangle Pattern Points To Breakout

    On September 23, Charting Guy took to X (formerly Twitter) to unveil a new trend pattern in Shiba Inu’s price chart. The chart highlighted three wave patterns and several Fibonacci retracement levels which acted as resistance and support zones for Shiba Inu’s price.

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    Source: X

    In classic wave 1 and 2, Shiba Inu’s price movements exhibited a series of fluctuations, followed by a brief upward momentum before sliding downwards again. Now in wave 3 which the analyst has predicted would be an explosive one, Shiba Inu has formed a historical symmetrical triangle pattern which could trigger a potential surge to new highs at $0.0.0000493, representing a 244% rally. 

    Currently, Shiba Inu is trading at $0.0000143, with its next key resistance at the 0.382 Fibonacci retracement level, near $0.0000164. If the meme coin fails to surpass this resistance, the 0.236 Fibonacci retracement level at $0.000011 could provide strong support. 

    In contrast, if Shiba Inu exceeds resistance levels at $0.0000164, the cryptocurrency could see its price breakout to $0.0000226. More resistance can also be seen at Fibonacci retracement levels around 0.618 and 0.702, representing the $0.0000312 and $0.0000392 price marks, respectively. 

    If Shiba Inu can successfully break out of these key levels, the cryptocurrency would experience an explosive surge to $0.0000493, a price level well above its previous March high of around $0.000045. 

    Interestingly, this price level is not the highest Shiba Inu can reach based on its symmetrical triangle pattern. According to the Charting Guy, if SHIB can break above the 0.888 Fibonacci retracement level at $0.0000651, the meme coin could potentially skyrocket to new all-time highs at $0.0000884, corresponding to the 1 Fibonacci retracement level and marking a massive rally of approximately 518%. 

    However, in the event that Shiba Inu fails to surpass this key level, it is likely to find support at the 0.786 Fibonacci retracement level of $0.00004936. 

    Related Reading

    SHIB Price Analysis

    Supporting the optimism surrounding Shiba Inu’s future outlook, the cryptocurrency has been on a steady upward trajectory. In the past week, the price of Shiba Inu increased by an impressive 8.91%. However, it has recently retraced some of those gains, experiencing a 1.52% decline in the last 24 hours. 

    Earlier in March, Shiba Inu witnessed a significant rally, positioning it as one of the top gainers. According to data from CoinMarketCap, the cryptocurrency has seen a staggering 95.65% price increase since the start of 2024. 

    Shiba Inu price chart from Tradingview.com
    SHIB price pushes toward $0.000015 | Source: SHIBUSDT on Tradingview.com

    Featured image created with Dall.E, chart from Tradingview.com

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    Scott Matherson

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  • Shiba Inu Surprise! Binance Japan Listing Ignites 360% Price Spike

    Shiba Inu Surprise! Binance Japan Listing Ignites 360% Price Spike

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    Shiba Inu (SHIB), the meme coin with a loyal following, experienced a whirlwind of activity in the Japanese market this week. The catalyst? The listing of a new SHIB/JPY trading pair on Binance Japan, a move that initially sent the price soaring.

    Shiba Inu Soars On Binance Listing, But Briefly

    On April 30th, Binance Japan announced the addition of the SHIB/JPY pair to its spot trading platform. This move provided Japanese investors with a convenient way to trade SHIB directly with their yen, eliminating the need for currency conversions. The news was met with excitement in the Shiba Inu community, particularly in Japan, where the dog-themed coin enjoys a strong following.

    Following the listing, SHIB experienced a momentary surge, with its price briefly reaching ¥0.016666 (approximately $0.00011). This represented a staggering 360% increase from the opening trading price of the pair.

    A prominent Japanese Shiba Inu community member, KURO, documented the surge on social media, further fueling the buzz.

    However, the jubilation proved short-lived. The price quickly stabilized at a much lower point, ¥0.003741 (around $0.000024), highlighting the volatility inherent in the cryptocurrency market. While the initial spike generated excitement, it’s crucial to remember that such surges are often fleeting and don’t necessarily translate to long-term growth.

    Can SHIB Maintain Its Footing? A Look Beyond The Listing

    The impact of the Binance Japan listing on SHIB’s long-term price trajectory remains to be seen. While it undoubtedly increased accessibility for Japanese investors, several factors will determine the coin’s future performance.

    The cryptocurrency market itself is currently facing headwinds. Bitcoin, the world’s leading cryptocurrency, has seen a significant price correction in recent months, dragging other digital assets down with it. SHIB’s fate is likely intertwined with the overall market sentiment.

    Total crypto market cap currently at $2.14 trillion. Chart: TradingView

    The success of the Shiba Inu development team’s ongoing projects, such as the Shibarium Layer 2 blockchain and token burning initiatives, could significantly impact the coin’s value proposition. If these projects gain traction and deliver on their promises, they could attract more investors and drive up demand for SHIB.

    SHIB price action in the last day. Source: Coingecko

    The Rise Of Litecoin As A Fiat Onramp

    Interestingly, the increased focus on fiat-to-crypto gateways like the SHIB/JPY pair coincides with the growing popularity of Litecoin (LTC) as a method to buy other cryptocurrencies. Unlike Bitcoin, Litecoin boasts faster transaction times and lower fees, making it an attractive option for investors seeking a smoother entry point into the crypto market.

    Whether LTC can capitalize on this trend and establish itself as a preferred fiat onramp remains to be seen, but it presents an alternative pathway for those hesitant about the volatility associated with direct fiat-to-meme coin purchases.

    Featured image from Pexels, chart from TradingView

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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    Christian Encila

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  • Shiba Inu To Rally 100% To $0.000062? Analyst Reveals Why This Is Possible

    Shiba Inu To Rally 100% To $0.000062? Analyst Reveals Why This Is Possible

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    A crypto analyst has identified a key technical indicator in the Shiba Inu price chart that suggests that the cryptocurrency is set to witness a major price rally to new highs. 

    Asymmetrical Triangle Signaling SHIB Price Surge Appears

    A crypto analyst identified as Captain Faibik on X (formerly Twitter) has unveiled a distinctive technical pattern in Shiba Inu’s price chart. Sharing a 6-hour chart of Shiba Inu’s native token, SHIB against Tether (USDT), the analyst revealed an asymmetrical triangle pattern, which indicated that the cryptocurrency may enter a bullish trend during the first two weeks of April. 

    The asymmetrical triangle pattern is a technical indicator which displays a period of consolidation before the price of a cryptocurrency is forced to break out or down. Oftentimes, the triangle patterns are interpreted as bullish, especially if the cryptocurrency is already in an uptrend. This is because the emergence of the technical pattern is a sign that the price of the token will continue moving upwards. 

    Regarding Shiba Inu, Faibik has interpreted the technical pattern as a potential bullish breakout, predicting an upcoming rally that could see the price of Shiba Inu doubling. The price chart has revealed that SHIB’s price could potentially rise between 0.00058 to 0.00062 around the second to third week of April.  

    At the time of writing SHIB is priced at $0.000271, reflecting a 0.45% dip in the last 24 hours. Over the past week, the cryptocurrency saw a decrease of more than 10%. The emergence of this new technical pattern may offer investors renewed optimism, viewing declines as buying opportunities. 

    Shiba Inu Surpasses Bitcoin In Trading Volume on Indian Exchange

    Prominent Indian crypto exchange, WizarX recently revealed its top five most traded cryptocurrencies in March 2024, with Shiba Inu dominating the pack as the platform’s most traded cryptocurrency. The doggy-themed meme coin claimed first position, surpassing Bitcoin (BTC), the world’s largest cryptocurrency, which took second place. 

    Ranking third to fifth place were Pepe (PEPE), Dogecoin (DOGE), and Floki (FLOK), respectively, which are some of the trendiest meme coins in the crypto space currently. 

    Shiba Inu’s accomplishment as the most traded cryptocurrency on this Indian crypto exchange underscores its growing popularity across various global regions. The meme coin recently made headlines for being one of the top most searched cryptocurrencies on Google. Moreover, SHIB has consistently experienced a notable increase in demand and interest from investors and traders alike within the crypto space. 

    SHIB price recovers to $0.000027 | Source: SHIBUSDT on Tradingview.com

    Featured image from Analytics Insight, chart from Tradingview.com

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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    Scott Matherson

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  • Shiba Inu Dips Below $0.00003 Again

    Shiba Inu Dips Below $0.00003 Again

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    The $0.00003 price level has remained a critical point for Shiba Inu in the past few days. A recent market tug-of-war between bulls and bears has seen the meme coin particularly struggling to hold above $0.00003 in the past two days. This has led to uncertainty about the crypto’s direction as we break into a new month as a breakdown below the figure could lead to an extended price reversal. 

    However, the majority of SHIB holders continue to hold onto bullish sentiment as the cryptocurrency is still doing well in a larger timeframe. This has led to bullish predictions from crypto analysts. 

    Current State Of Shiba Inu

    Shiba Inu is currently trading at $0.0000305, up by 1.28% in the past 24 hours. Interestingly, the cryptocurrency’s price movement shows a lackluster action for the majority of the weekend. This saw it falling to as low as $0.00002958 yesterday.

    However, this wasn’t for long, as the cryptocurrency found its way back above $0.00003 in the hours after, signaling the ongoing fight between bulls and bears. 

    While the action shows the bulls might be getting tired in the short term, a larger timeframe indicates they might still be having the upper hand. This is because SHIB is still up by 8.60% in the past seven days, reaching as high as $0.00003253 on March 28.

    Similarly, the crypto is still up by 123% in the past 30 days, although it has reversed most of the gain it saw earlier in the month which saw the bulls pushing to $0.00004456 for the first time since December 2021.

    Bitcoin is now trading at $70.564. Chart: TradingView

    What’s Next For Shiba Inu?

    Shiba Inu’s bullish momentum might have waned from those witnessed earlier in the month, but some whales have continued accumulating in anticipation of an uptrend continuation. Crypto analysts have also predicted a bullish surge in the coming weeks. Crypto analyst Captain Faibik noted that SHIB is gearing up for another 2X rally. His prediction is based on a bullish price formation. 

    The price chart shared by the analyst shows that SHIB is currently forming a bullish pennant flag pattern. According to Captain Faibik, a breakout of the flag pattern could see Shiba the cryptocurrency surging to $0.000058 in April.

    Another popular analyst known as Rekt Capital predicted a similar surge based on history repeating itself. According to him, the current SHIB action could mirror the one in 2021. All it needs to do is just break above a major resistance at $0.0000332 before going on a strong uptrend.

    Featured image from Pexels, chart from TradingView

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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    Scott Matherson

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  • Shiba Inu Going To $0.0001: Crypto Analyst Reveals What Will Drive The Rally

    Shiba Inu Going To $0.0001: Crypto Analyst Reveals What Will Drive The Rally

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    Shiba Inu has gone on various price spikes in the past few months amidst a surge in activity and interest in the meme coin. This price movement has prompted traders and analysts to ponder on when SHIB can reach the much coveted $0.0001 mark, a price level which it has largely failed to reach despite the impressive price action. 

    Micheal_EWPro, a crypto analyst, posted an analysis on when SHIB could potentially reach the $0.0001 price level. According to him, the current dynamics could push SHIB above $0.0001 in June. Interestingly, his price prediction is based on the Elliott Wave Theory.

    Analyst Reveals SHIB Is Going To $0.0001

    According to the SHIB chart shared by Michael on the 3-day candlestick formation, the meme coin’s price formation since 2022 has largely followed the Elliott Wave count. The Elliot Wave Theory is basically a technical analysis method that analyses price movement traditionally in terms of a 5-wave move in the direction of the larger trend and a 3-wave correction in the opposite trend.

    Each of these Elliott Wave can be further subdivided into various patterns of smaller degree impulses based on their formations. However, all the subdivisions add up to one larger wave impulse.

    Using this knowledge of Elliot Wave Theory, the analyst noted that SHIB has started the formation of the third of five larger degree waves since October 2023 albeit with smaller degree impulses which he labelled as i, ii, iii, iv, and v. Traditionally, the third Elliot Wave is usually the largest and most powerful wave in a trend where most of the price action takes place. As a result, his analysis points to the third wave ending at a price just above $0.0001 in the first week of June.

    The analyst did implore a take-profit at $0.00008854 and a final price target of $0.00010191, while also noting that the bulls still have some work to do before this price point can come to a reality. 

    What’s Next For Shiba Inu?

    Shiba Inu has reversed since reaching $0.00004456 and has majorly traded between $0.000030 and $0.0000275 since the beginning of the week. However, analysts and SHIB enthusiasts remain positive, especially with SHIB securing a listing on an Australian-based crypto exchange.

    This positive sentiment recently pushed SHIB to second place in crypto searches. At the same time, Shiba Inu’s layer-2 platform, Shibarium, has seen its TVL surging to a new high of $3.9 million.

    At the time of writing, SHIB is trading at $0.00003097, up by 14% in the past seven days. 

    SHIB price at $0.000031 | Source: SHIBUSDT on Tradingview.com

    Featured image from TronWeekly, chart from Tradingview.com

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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    Scott Matherson

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  • Crypto Analyst Predicts Further Upside For Shiba Inu, Here’s The Target

    Crypto Analyst Predicts Further Upside For Shiba Inu, Here’s The Target

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    Shiba Inu is currently on a consolidation path after a strong upswing earlier in the month. Specifically, SHIB is currently down by 13% in the past seven days, although still up by 210% in a wider 30-day time frame. According to crypto analyst Javon Marks, Shiba Inu is on its way to another major breakout after the current consolidation. The analyst sees the meme coin surging to $0.000081, and then a further 90% increase to hit a new all-time high.

    Continued Uptrend For Shiba Inu

    Shiba Inu has seen massive gains recently, rallying 280% from $0.00001178 on the last day of February to $0.00004456 on March 5. This surge allowed the dog meme coin to outperform most cryptocurrencies amidst a wider bull market, taking a lot of traders by surprise. This price surge was accompanied by an increase in trading volume. Kaiko data reveals that Shiba Inu saw the largest volume among meme coins at $31 billion in just one week.

    However, according to social media posts, analyst Javon Marks had predicted a surge as far back as October 2023, with a SHIB price target of $0.000081. In a recent update to his prediction, Javon noted that the price is set for even more growth, with the breakout target of $0.000081 still valid. 

    It’s interesting to note that SHIB has done approximately a 531% increase since Javon’s prediction in October. Furthermore, according to his analysis, a break and hold above $0.000081 could set the stage for another 90% upside to $0.0001553, a new all-time high for the meme coin.

    Current State Of Shiba Inu

    Shiba Inu has reversed since reaching $0.00004456 and has majorly traded between $0.0000365 and $0.0000295 in the past week. On-chain data points to a surge in trading volume during this time period. Particularly, IntoTheBlock’s large trader flow metric, which measures transactions greater than $100,000 has surged, reaching $578.11 million (17.62 trillion SHIB) on March 11th. The last 24 hours saw 9.94 trillion SHIB ($300.55 million) in large transactions. 

    While this surge in trading volume could mean an increased accumulation from large traders, it could also mean a selloff, as indicated by the recent drop in price. However, the crypto looks poised to resume price gains, and on-chain signals from ITB point to a bullish sentiment. 

    Lola, a SHIB enthusiast, listed on X, key factors that could contribute to the meme coin’s growth in the near future. These factors range from SHIB’s decentralization, global accessibility and adoption, its strong community, and an efficient deflationary burn mechanism. Notably, over 25.6 million SHIB tokens have been burnt in the past 24 hours.

    SHIB price retraces to $0.0000288 | Source: SHIBUSDT on Tradingview.com

    Featured image from The Economic Times, chart from Tradingview.com

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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    Scott Matherson

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  • BONE Garners 20,000 Picks On Binance Futures NEXT Program

    BONE Garners 20,000 Picks On Binance Futures NEXT Program

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    In a unique display of community support and unity, one of Shiba Inu’s native tokens, Bone ShibaSwap (BONE) has risen to the top five in Binance’s Future NEXT program, aiming to secure the number one spot for a potential token listing. 

    SHIB Community Rally Over 20,000 BONE Picks

    The Shiba Inu community has been demonstrating an amazing amount of support for its burgeoning ecosystem, rallying around the BONE token to help propel its position to the top spot in Binance’s Future NEXT program. 

    Initially at the 14th position on Binance’s new program, BONE made an exponential leap, swiftly climbing more than 10 ranks within 24 hours to secure third position in Binance’s Future NEXT token listing challenge.

    With its popularity skyrocketing from a modest 2,657 picks to over 23,810 picks, BONE has become a major competitor for Delysium (AGI) and Baby Doge Coin (BABYDOGE), which, at the time of writing, holds the first and second position respectively. 

    This substantial climb in ranks underscores the Shiba Inu community’s strong support and dedication towards its ecosystem and native tokens. Moreover, it highlights the considerable interest and demand for the popular BONE token to be featured on Binance’s Future platform. 

    Championing BONE’s ambitious journey to claim the number one spot, Shiba Inu’s marketing influencer, Lucie has urged community members to keep up their unwavering support for BONE. She has motivated members to vote for the token to become the top choice for Binance’s Future NEXT listing. 

    As highlighted by Binance, the voting process entails a $1 fee per vote, enabling individuals to acquire as many votes as they desire. In this context, the financial commitment of the Shiba Inu community is also underscored, with a substantial contribution exceeding $20,800. This amount reflects the number of picks made towards elevating BONE to its current third position.  

    Total crypto market cap is currently at $2.5 trillion. Chart: TradingView

    Next Step For Potential BONE Listing

    As BONE continues its ambitious climb to the topmost position on Binance’s Futures NEXT listing, it’s important to mention that attaining the number one position does not guarantee an immediate listing.

    The cryptocurrency will have to undergo the necessary review and screening processes by Binance before being considered for the official listing. 

    Binance has revealed intentions to carry out a proper listing process, evaluating all contenders including Delysium and Baby Doge Coin.

    Despite this, SHIB remains a leading candidate for the listing process, demonstrating greater potential to accumulate more picks as community members continue to show their support. 

    Featured image from Pixabay, chart from TradingView

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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    Scott Matherson

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  • Shiba Inu Just Ballooned To 124% – What’s Pushing The Price Up?

    Shiba Inu Just Ballooned To 124% – What’s Pushing The Price Up?

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    Shiba Inu (SHIB) has experienced a remarkable surge in recent times, mirroring the broader optimism sweeping the cryptocurrency market. This uptrend coincides with Bitcoin’s impressive rise above $63,000.

    Shiba Inu Explodes On The Weekly Timeframe

    The memecoin has witnessed significant gains, with a solid 61% jump in a 24-hour timeframe, a more impressive 124% increase over the week, and a stellar 50% growth in the past month.

    Source: Coingecko

    Notably, SHIB has finally clawed its way into positive territory for 2023, boasting a 10% gain since February. In addition to this, its market capitalization crossed the $8.5 billion barrier for the first time in a year.

    This bullish momentum is further bolstered by technical indicators. The recent price climb above $0.000014 has demonstrably reignited investor interest, as evidenced by the substantial 75% surge in trading volume. This suggests a potential breakout from a previous consolidation phase and could signal further upward movement if buying pressure persists.

    SHIB seven-day price rally. Source: Coingecko

    Market Strength And Bull Run Potential

    The total market capitalization of cryptocurrencies is nearing $2.5 trillion, a significant milestone. This uptick has fueled speculation among some analysts for a potential bull run, a period of sustained price increases. While past performance doesn’t guarantee future results, this rising market cap does suggest a return of investor confidence.

    Bitcoin is now trading at $61.970. Chart: TradingView.com

    These often highly volatile assets have experienced explosive price jumps, potentially contributing to a positive feedback loop within the broader market. This “meme coin frenzy” could be a sign of increased retail investor participation, which can be a double-edged sword, driving prices up but also increasing volatility.

    SHIB Investor Sentiment

    An interesting technical indicator is the improvement in Shiba Inu (SHIB) investor sentiment. Data suggests that over 50% of SHIB holders are currently sitting on profits, compared to a mere 10% in September 2022. This shift reflects the positive impact of the recent price increase and could further fuel buying pressure if the trend continues.

    Shifting Tides

    Meanwhile, on-chain data from Lookonchain indicates a sizeable investor, commonly referred to as a “whale,” has made a strategic shift in their holdings. This whale liquidated nearly 2 trillion PEPE tokens, profiting $3.5 million. This divestiture suggests the whale perceived PEPE to be nearing a price peak or no longer aligned with their investment goals.

    Following the PEPE sale, the whale reinvested a portion, $893,000, into Shiba Inu (SHIB). This strategic allocation of 76 billion SHIB tokens suggests the whale anticipates potential growth in SHIB’s price. However, it’s important to remember that this is a singular instance.

    Featured image from Pexels, chart from TradingView

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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    Christian Encila

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  • Meme Coin Blues: Nearly 70% Of Shiba Inu Investors Underwater

    Meme Coin Blues: Nearly 70% Of Shiba Inu Investors Underwater

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    Shiba Inu (SHIB), often touted as the “Dogecoin killer,” finds itself at a critical juncture as it grapples with a recent downturn, inviting scrutiny into its stability and future prospects.

    Shibarium Surge Sparks Investor Optimism, Concerns Linger

    Despite some investors maintaining an optimistic outlook, buoyed by recent developments such as the surge in Shibarium, others harbor reservations about the token’s performance and distribution dynamics.

    The red signals flashing for SHIB investors are hard to ignore. A recent analysis by IntoTheBlock reveals that a substantial 67% of investors currently find themselves in the red, indicating that their investments are underwater.

    Source: IntoTheBlock

    This underlines the token’s struggle to gain traction in the prevailing market conditions. Over the past month, SHIB has experienced a 5.86% decline in price, coupled with a lackluster 0.78% decrease in the last 24 hours, currently trading at $0.000009039.

    Adding to the concerns, trading volume has dwindled by 10.03%, signaling diminishing interest and prompting investors to exercise caution. This wariness is further underscored by the fact that only 28% of SHIB investors are currently in profit, with an additional 6% breaking even.

    SHIBUSD currently trading at $0.00000896 on the daily chart: TradingView.com

    Wealth Accumulation, Another Challenge

    The accumulation of wealth within the Shiba Inu ecosystem poses another challenge. Nearly 80% of the total holdings are concentrated in the hands of a small group of large investors. This lopsided distribution raises legitimate concerns about market manipulation and heightened volatility, thereby increasing the risk for average investors.

    However, amidst the prevailing uncertainties, there exists a silver lining in the form of Shibarium. The project’s Layer-2 blockchain solution has witnessed a remarkable surge in activity.

    Source: Shibariumscan

    Within just three days, the number of new accounts on Shibarium skyrocketed by an astonishing 254%, reaching an impressive 63,162. This surge in network usage often foreshadows significant price fluctuations, providing a glimmer of hope for the future prospects of SHIB.

    As the token stands at a crossroads, its future hinges on several pivotal factors. Market sentiment, particularly towards meme coins, could play a decisive role in influencing the token’s price.

    Additionally, the success of any new initiatives or partnerships that enhance SHIB’s utility and adoption has the potential to attract fresh investors and elevate its overall valuation.

    SHIB investors are urged to tread carefully. While the recent performance and wealth concentration raise legitimate concerns, the surge in Shibarium activity suggests a potential avenue for growth.

    Featured image from Adobe Stock, chart from TradingView

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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    Christian Encila

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  • Crypto Analyst Predicts Shiba Inu Price To Surge Above $0.00001

    Crypto Analyst Predicts Shiba Inu Price To Surge Above $0.00001

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    After months of experiencing slow growth, the Shiba Inu native token SHIB has begun riding the bull market wave and surging with new gains. As a result, a crypto analyst has predicted new highs for the doggy-themed cryptocurrency, estimating the price of SHIB to reach $0.00001.

    Analyst Foresees Bullish Trajectory For Shiba Inu

    Crypto analyst and investor SHIB Knight took to X (formerly Twitter) on Monday to discuss SHIB’s recent price movements. Lately, the doggy-themed token has been witnessing significant price increases, pushing it closer to the coveted $0.00001 price mark. 

    According to CoinMarketCap, SHIB has recorded about 1.32% in gains over the last seven days and is trading at a price of $0.000009 at the time of writing. 

    Martinez shared a chart illustrating SHIB/Tether’s price movements. He disclosed that the price of SHIB was experiencing a technical breakout on a two-hour chart from the downtrend that has been plaguing the cryptocurrency market. This suggests that the Shiba Inu token may be on its way to a price recovery after experiencing significant declines despite its flourishing ecosystem and community.

    Subsequently, SHIB Knight shared another chart showing SHIB’s price movement with an arrow pointing toward a surge to $0.000014. The crypto analyst predicted that SHIB could pump at any time, suggesting that investors should stay alert and keep watch of the cryptocurrency’s present bullish outlook. 

    SHIB price at $0.00000899 | Source: SHIBUSD on Tradingview.com

    Analyst Predicts SHIB To Surge To $0.01

    As the crypto market gradually exits bearish trends that have been causing the declines of many altcoins, SHIB has positioned itself at the forefront of the potential market recovery, preparing for the anticipated 2024 bull run. 

    Crypto analyst Ali Martinez disclosed in an X post that SHIB is gearing up for a significant upswing that could push it to unprecedented highs. Martinez shared a chart initially published on TradingView, illustrating the price trends and movements of SHIB from November 2023 to February 2024. 

    The chart revealed red and green zones in Shiba Inu’s token price trend. Relying on his analysis of these price movements, Martinez predicted that the value of SHIB could climb as high as $0.010 or potentially surpass that price mark to $0.011. The occurrence of this event could signify a potential breakthrough for the cryptocurrency as SHIB has only been able to achieve an all-time high of $0.0009 since its inception. 

    Featured image from Dall.E, chart from Tradingview.com

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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    Scott Matherson

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  • Shiba Inu Burn Rate Surges Over 1,400%, As Price Recovers

    Shiba Inu Burn Rate Surges Over 1,400%, As Price Recovers

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    Shiba Inu, an Ethereum-based meme coin, is presently in the limelight as its burn initiative has witnessed a significant surge in its token burn rate in the past day, suggesting increased engagement from the community.

    Shiba Inu Daily Burn Rate Skyrockets

    Data from Shibburn reveals that the last 24 hours have seen a notable spike in the Shiba Inu burn rate. The tracker reported that the burn rate has recorded a massive 1,411% increase today, January 30.

    According to the platform, over 61 million SHIB tokens have been incinerated in the last 24 hours. The increase in burn rate coincides with a recent rally in the price of Shiba Inu.

    Shibburn shows that the present rise in burn rate was caused by two large burn transactions. It was discovered that the two transactions destroyed a total of 48.9 million SHIB in less than one hour.

    The first transaction orchestrated by the wallet address 0x85a860003705c56…7eb2f4bcc7 witnessed about 21 million SHIB being destroyed. Meanwhile, the second transaction carried out by another wallet address 0x85a860003705c56…7eb2f4bcc7 saw over 27 million SHIB tokens being burned.

    The Shiba Inu burn rate might have been up in the past day, but in the past week, the rate appears to have been down. From the hourly SHIB burn update on X (formerly Twitter), the rate is down by over 48% in the past week. Furthermore, the report noted that over 113.42 million Shiba Inu tokens have been destroyed in the past seven days.

    Even though tokens have been burned virtually every day for more than a year now, the burn rate has not made a crater in the supply that is in circulation. So far, Shiba Inu has burned over 410.70 trillion SHIB since the initiative was introduced. 

    Currently, the overall supply in circulation is about 581.29 trillion SHIB. This indicates more work to be done by the SHIB community before the incineration has a weighty effect.

    SHIB Prices Recovers Amid Burn Rate Rise

    Shiba Inu price, as of today, appears to have recovered from a lengthy bearish trend it has been struggling with. However, there is no solid proof that the rise in burn rate had any impact on the crypto asset’s recent rally.

    As of the time of writing, the price of Shiba Inu was sitting at $0.000009254, indicating a 2.24% rise in the past 24 hours. CoinMarketCap reveals that its market cap and trading volume are up by 2.19% and 45.16% in the past day.

    Furthermore, the digital asset is now ranked 17th overall in terms of market cap due to its recent price recovery. With the recovery, SHIB has attracted attention from investors and sparked fresh sentiments over possible long-term growth.

    SHIB trading at $0.00000927 on the 1D chart | Source: SHIBUSDT on Tradingview.com

    Featured image from iStock, chart by Tradingview.com

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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    Godspower Owie

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  • Solana (SOL) Bulls Imminent: Analyst Predicts Price Surge To $113

    Solana (SOL) Bulls Imminent: Analyst Predicts Price Surge To $113

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    In the ever-fluctuating world of cryptocurrencies, Solana (SOL), which has witnessed a significant decline in price in the past few days, might be poised for a breakout soon toward the upward trajectory.

    Solana Set To Hit The $113 Price Mark Soon

    As the development unfolds, Ali Martinez, a well-known cryptocurrency analyst, has revealed his short-term price predictions for Solana. The analyst took to the social media platform X (formerly Twitter) to share his latest projections with the crypto community. 

    In the X post, Ali Martinez has identified a notable shift in the direction of Solana. According to him, “SOL seems to be breaking out from a descending parallel channel.”

    As a result, Martinez has predicted the price of Solana to reach a new yearly high of $113. However, this is anticipated to take place if SOL manages to hold its position “above the $94” price mark.

    The post read:

    Solana appears to be breaking out from a descending parallel channel. If SOL can hold above $94, it has a great chance of advancing toward $113.

    Martinez’s price predictions for SOL came amidst the present market volatility, which is believed to be triggered by the Bitcoin Spot ETFs. Since the approval of the products, the larger crypto market has gone through a difficult time.

    SOL breaking out of the descending parallel channel | Source: Ali_charts on X

    Major cryptocurrency assets in the market have witnessed a major decline in value over time. Nonetheless, the expert’s recent price overview has sparked new hope for SOL traders and investors.

    Martinez’s positive price forecast for Solana has caused quite a frenzy in the entire crypto community. With SOL breaking free from a parallel channel that was falling, everyone is now talking about the token’s possible rise.

    It is noteworthy that Solana has experienced a significant upswing in popularity in recent years, especially in 2023. Due to this, the project has become a preferred investment option for crypto aficionados and investors.

    As of the time of writing, Solana was trading at $96.63, demonstrating a 10% increase in the past week. The digital asset boasts of a 47% rise in daily trading volume valued at $2.30 billion.

    The SOL Ecosystem Buzzing With Activity

    Lately, several exciting developments have put Solana’s ecosystem in the spotlight. One of the recent events is the introduction of the SOL-based meme coin Wen (WEN), which has seen a notable rise in its daily trade.

    According to a report, the meme coin’s 24-hour trading volume has elapsed that of the popular Shiba Inu (SHIB) token. The token has had a remarkable rise in its daily trade, recording over 40% increase.

    Data from the report shows that WEN recorded a whopping $115 million in its 24-hour trading volume. Meanwhile, Shiba Inu recorded a whopping $88 million in its daily trading volume.

    Currently, the daily trading volume of the coin is sitting at $123 million, indicating a 76% increase. This suggests increased trader interest, which could be connected to the recent market activities specific to the coin.

    Solana
    SOL trading at $96.86 in the 1D chart | Source: SOLUSDT on Tradingview.com

    Featured image from Shutterstock, chart from Tradingview.com

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