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

    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

    Scott Matherson

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

    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

    Jake Simmons

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

    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

    Scott Matherson

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

    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

    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

    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

    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

    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


    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

    Scott Matherson

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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

    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.

    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

    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.

    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

    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.

    Scott Matherson

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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


    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.



    Scott Matherson

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  • Crypto Analyst Predicts 100% Surge For Shiba Inu, But There’s A Roadblock

    Crypto Analyst Predicts 100% Surge For Shiba Inu, But There’s A Roadblock

    Through the rips and dips of the crypto market, the Shiba Inu price has been able to maintain a rather consistent bullish momentum, something that cannot be said for a lot of cryptocurrencies. Given this sustained bullish sentiment, the meme coin is primed to be one of the assets to see a massive rally as the market inches toward another bear market. In the short term alone, pseudonymous crypto analyst MMBTtrader is predicting that the price will mount a 2x rally.

    Shiba Inu Price Ready To Rise 100%

    In a recent analysis, crypto analyst MMBTtrader reveals why they believe that the Shiba Inu price is set to double.  As the chart shows, there has been a steady uptrend in the Shiba Inu price over the last few months, and even when the uptrend seemed to have come to an end, the SHIB price maintained a relatively high price compared to its October lows.

    This outperformance has continued into the new year as SHIB was able to still maintain the $0.00001 level despite dips rocking the crypto market. This suggests that bulls have been able to successfully turn $0.00001 into support. In this scenario, it could easily become a launchpad for the price.

    Source: TradingView.com

    The crypto analyst’s prediction suggests that it could begin to range at its current price. However, once this ranging ends and accumulation is complete, this is where the real fun begins for the SHIB price when the rally is expected to begin.

    A bounce from here would see SHIB easily clear the $0.000014 level with no hassle. However, the first roadblock lies just above here. In the event that Shiba Inu is quickly able to surmount the resistance at $0.0000143, another pump is expected that could lead up to $0.000018.

    Since there is no such thing as a single continuous upward movement, resistance is expected just below $0.000018. Nevertheless, this is the last resistance and if Shiba Inu climbs above this level, then it is expected to shoot above $0.00002, completing a 100% move from its current price.

    Shiba Inu price chart from Tradingview.com (SHIB 100% rally)

    SHIB price at $0.0000094 | Source: SHIBUSD on Tradingview.com

    SHIB Sways Amid Market Uncertainty

    In the weeks leading up to January, confidence around the potential approval of a Spot Bitcoin ETF was at an all-time high, with experts giving it a 95% chance of approval. However, this sentiment has begun to sway especially as BlackRock revealed it will be delaying its $10 million BTC purchase.

    As a result, the price of cryptocurrencies across the space declined rapidly and the Shiba Inu price was not left out. SHIB finally lost its footing at $0.00001 for the first time in over two weeks, falling to the $0.000009 region once again.

    However, this is not out of the ordinary and could lead to the SHIB ranging and accumulation that the crypto analyst outlines. In such a case, this could present a setup for a bigger price rally as expectations for a bull market grow high.

    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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  • Shiba Inu Vs LUNC Burn: Which One Has Had A Better Impact?

    Shiba Inu Vs LUNC Burn: Which One Has Had A Better Impact?

    Both the Shiba Inu and the LUNC tokens have seen their growth hindered by the fact that their circulating supply is incredibly large. As a way to curb this, both communities have come up with a burn initiative to reduce the supply of the tokens as much as possible. So far, there have been significant amounts of tokens sent to burn addresses by members of the community. But which community’s effort has had the best impact on the token price?

    LUNC Community Hits 85 Billion Mark

    The LUNC community burn has gained a lot of traction since it began around a year ago. Every week, millions of tokens are being taken out of circulation in an effort to reduce its over 5.8 trillion supply. This has resulted in tens of billions of tokens being burned so far.

    According to the LUNC Metrics website, the community has been able to hit the 85 billion tokens burned milestone. This was hit after over 1.7 billion tokens were burned by the community in a single-week timeframe, bringing the total all-time token burned to approximately 85 billion.

    On the back of this milestone, the prices of LUNC and USTC have begun to rally once more, suggesting a correlation between the burn and the price performance. Not only the Terra Classic ecosystem tokens are rallying but also the rebranded LUNA token has been on the rise.

    The LUNC burn initiative has seen a lot of support from the Binance exchange which continues to burn fees generated from the altcoin’s trading activity. Burning has also extended to the USTC token which sees thousands of coins burned daily.

    SHIB bulls show strength | Source: SHIBUSD on Tradingview.com

    Shiba Inu Burn Sees 2875% Explosion

    Compared to the LUNC burn, the Shiba Inu community burn has had more impact on the price. Unlike LUNC, around 45% of the total token supply has been burned. Most of this can be attributed to Ethereum founder Vitalik Buterin who received half of the SHIB token supply in 2021. Buterin eventually burned the majority of the tokens after donating some of it to a COVID relief fund.

    The community has, however, not relented in its efforts to reduce the supply. Last week, the burn rate saw one of the most significant spikes after rising over 7.6 million percent in a 24-hour period. This increased burn momentum has continued into the new week with Sunday’s figures coming in over 152 million tokens burned.

    This 152 million figure saw the SHIB burn rate rise another 2875%, data from Shibburn shows, starting the week off on a high note. The majority of the burned tokens came from a single wallet which incinerated 107.6 million tokens in a single transaction.

    However, unlike LUNC, the spike in the SHIB burn rate hasn’t seemed to have affected the price much with the token trading at near breakeven for the same time period.

    Featured image from Analytics Insight, chart from Tradingview.com

    Scott Matherson

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  • Shiba Inu Team Unveils Enhanced SHIB And BONE Burns, What This Means

    Shiba Inu Team Unveils Enhanced SHIB And BONE Burns, What This Means

    Shibarium’s burning mechanism has been in the limelight of late, especially with the recent record of over 8 billion Shiba Inu tokens burnt in a single day. This burning mechanism seems to have undergone an update, which could further enhance its performance. 

    Shibarium Undergoes Swift Hard Fork

    A screenshot containing a discord message from DaVinci (a member of the Shiba Inu development team) surfaced online recently. In the message, DaVinci mentioned that Shibarium would undergo a hard fork at Block 1962000. That suggests that the upgrade already took place as there are already over 2 million blocks on the layer-2 network at the time of writing.

    Meanwhile, the main purpose of this hard fork is to enhance the network’s burning mechanism. This will enable support for multiple burn tokens, with BONE and SHIB (the governance tokens of Shibarium) being the main focus. DaVinci also mentioned to node providers that a Genesis update would be required since it was a hard fork. 

    Further Clarification On What The Hard Fork Entails For Shiba Inu

    Shibarium had earlier provided clarification of what this new era of the network entails. A blog post published on the Shibarium site mentioned that Shibarium’s burning mechanism will initially be manually managed as part of this upgrade. This is to ensure alignment with the network’s health and sustainability. In this phase, the burn process will be managed by the official deployer.

    Once that is done, Shibarium will apparently transition to an automated system starting in January. As part of this transition, Shibarium is expected to witness further upgrades in a bid to “enhance efficiency and reliability.” According to the network, the automated burn process “will operate based on predefined rules,” although it didn’t provide further details on this. 

    Node provider NOWNodes noted in a blog post that this upgrade will also facilitate mass adoption for Shibarium. That could explain why there is a need to enhance the burning mechanism as part of the upgrade. Considering that there is a correlation between the transaction volume and token burns, Shibarium needs to be well prepared to handle the number of tokens that need to be burnt following a potential increase in transaction count. 

    The layer-2 network is currently flying high as the total transaction count on it continues to skyrocket. According to data from the Shibarium Explorer, the total transactions on the network stand at over 58 million at the time of writing. Shibarium has surpassed the milestones of 5 million, 10 million, 20 million, and 35 million mark in just about a week. 

    Shiba Inu price chart from Tradingview.com

    SHIB price reclaims $0.00001 | Source: SHIBUSD on Tradingview.com

    Featured image from Crypto News, chart from Tradingview.com

    Scott Matherson

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  • Shiba Inu Burn Rate Rises Rapidly In One Week, What’s Been Driving It?

    Shiba Inu Burn Rate Rises Rapidly In One Week, What’s Been Driving It?

    The rise in the Shiba Inu burn rate has no doubt been one of the most notable developments in the community. At the start of the week, the burn rate rose over 7,000,000% after more than 8 billion tokens were burned in a 24-hour period. This trend has not slowed down either given that the burn figures have continued to rise daily.

    Shiba Inu Burn Surge Continues

    Earlier in the week when the Shiba Inu burn saw one of its highest daily spikes, the total number of tokens burned had come out to just over 8 billion. At the time, this was a significant figure given that the burn rate had been slowing down over the last year. However, there has been a steady rise in the number of SHIB tokens that are being burned lately, which raises the question of what is driving the burn.

    After a dip in the burn rate following the 8 billion daily burn, the community is back at it again and their zeal has been rewarded once more. On Thursday, the burn tracker Shibburn reported that the 24-hour figure had crossed 10 million once again. This shows a steady recovery from Wednesday’s figures which had tanked significantly.

    Source: Shibburn

    As Shibburn data shows, the 10.34 million SHIB that were burned in the last 24 hours amounts to an 803.4% increase in the burn rate compared to the previous day. The majority of the burns have, however, come from a single wallet address. The address sent a little over 10.2 million SHIB to the burn address.

    This recent spike in the BURN rate has also added to the total amount burned on a weekly basis. The figure comes out to 8.497 billion, which is a 1,969.72% increase from the previous week’s figures.

    Shiba Inu price chart from Tradingview.com

    SHIB bulls struggle to maintain control | Source: SHIBUSD on Tradingview.com

    What Is Driving The SHIB Burn?

    The most significant burn for the week was the 8.2 billion burn, most of which came from a single address. This address was the ShibaSwap deployer wallet, which meant that the SHIB team was the one burning the tokens.

    The spike in the burn rate coincides with the increased usage of the Shiba Inu layer 2 blockchain Shibarium, which marked multiple milestones this week. As the usage has risen and more fees were collected on the network, the amount of SHIB to be burned rose drastically.

    Daily transactions on Shibarium have consistently come out above 7 million this week, bringing the total transactions on the network above 51 million. If this continues, then the burn rate could continue to rise as more usage of the L2 means more fees being burned.

    Best Owie

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  • Shiba Inu Community Project Calls Out Founders For Refusing To Burn 103 Trillion SHIB

    Shiba Inu Community Project Calls Out Founders For Refusing To Burn 103 Trillion SHIB

    Shiba Inu (SHIB) burn tracker, Shibburn, has called out the creator of the meme coin, who goes by the pseudonym “Ryoshi”. The community project seemed to suggest that Ryoshi wasn’t acting in the best interest of the SHIB ecosystem.  

    How “Ryoshi” Has Hampered SHIB’s Burn Rate

    In a series of posts on their X (formerly Twitter) platform, Shibburn alleged that the founders of the token haven’t always been honest in their dealings. Specifically, the platform suggested that the founders have forestalled the token’s burn rate by refusing to burn over 103 trillion SHIB. This particular allegation stemmed from their statement about Ryoshi’s SHIB holdings.

    Shibburn mentioned that Ryoshi lied about how much SHIB they held. They stated how the SHIB founder had, in their own words, claimed to hold “0 SHIB” as doing otherwise could bring about a conflict of interest. Meanwhile, that turned out to be a lie, as Ryoshi apparently holds over $1 billion worth of SHIB.

    The founders have apparently gone to great lengths to hide their holdings as they keep moving them across separate wallets. In doing so, Shibburn believes that they have impeded the ecosystem’s growth as some of these tokens are meant to be burnt. Shibburn went as far as alleging that Ryoshi didn’t care about SHIB’s development and was only out for themselves.

    Shiba Inu Founders Only Out To Enrich Themselves 

    As part of the shocking revelations, Shibburn mentioned that Ryoshi may not be who many think of them as. Instead, they are said to be a “group of greedy investors” who are just looking to profit off the community. To achieve this, SHIB is said to be their “golden goose,” which they use as a means to enrich themselves. 

    Besides Ryoshi, SHIB’s lead developer, Shytoshi Kusama, was also caught up in the mix. Shibburn accused the developer of not being a “real dev” and suggested that Shytoshi was also out to make profits off the community. One instance that they alluded to was how the developers allegedly rewarded themselves with a “large amount of $BONE” when ShibaSwap was created.

    Shibburn hinted that was the reason why BONE was made a gas token for Shibarium, possibly in a bid to increase the token’s utility and make it more valuable. Shytoshi has yet to respond to these allegations neither has anything been posted on the official announcements blog, where the developers are known to give regular updates.

    Shiba Inu also seems unfazed by these allegations. At the time of writing, the meme coin is trading at around $0.000008189, up in the last 24 hours, according to data from CoinMarketCap. 

    SHIB price stalls as bulls vie for control | Source: SHIBUSD on Tradingview.com

    Featured image from Coins.ph, chart from Tradingview.com

    Scott Matherson

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  • Shiba Inu Price Prediction: Machine Learning Algorithm Reveals December Target

    Shiba Inu Price Prediction: Machine Learning Algorithm Reveals December Target

    The crypto market has experienced somewhat of a resurgence in recent times. Shiba Inu (SHIB) happens to be one of the altcoins that many seem to have their eyes on during this period. And if the prediction of this machine learning algorithm is anything to go by, it would seem that these SHIB holders are well positioned for more profitable times ahead.

    SHIB’s Projected Price By December

    According to data from the price prediction algorithm on the crypto analytics platform CoinCodex, SHIB’s price is predicted to hit $0.000009534 by December 11. Such price action will represent about a 10% increase from its current price. 

    Meanwhile, the sentiment around the token continues to be bullish, which suggests that many expect the token to rally further despite the impressive gains it has already recorded. 

    With such a bullish sentiment, CoinCodex’s prediction seems more attainable as the ecosystem could see more whales and retail investors jump in on the token. If that happens, it could further add to the buying pressure, an important metric to determine if SHIB could continue riding on this momentum to attain CoinCodex’s prediction by December.

    In line with the bullish sentiment, CoinCodex noted that 24 technical analysis indicators are signaling bullish signals, with only a mere 4 indicators signaling bearish signals. Based on its forecast, the platform predicts that now remains a good time to buy the meme coin despite the impressive gains it has already recorded. 

    Another important metric that CoinCodex highlighted was the fact Shiba Inu’s RSI value currently stands at around 63.05, indicating that the token is neither oversold nor overbought. As to the exact time to buy the token, investors might be able to take a cue from CoinCodex’s five-day prediction as the platform expects a correction to around $0.000008008. 

    The Fundamentals Are Aligning For Shiba Inu

    The Shiba Inu ecosystem has continued to record interesting developments that suggest that the fundamentals are as bullish as the charts and technical analysis. Most recently, the SHIB non-custodial wallet was launched in a bid to promote the ecosystem’s vision of a decentralized state and enhance the crypto experience of Shibizens. 

    Interestingly, the wallet is equipped with certain features that address the fears of using a non-custodial wallet. One of them happens to be a feature that allows users to recover their tokens even if they were to forget their seed phrase. The wallet also integrated Web3Auth to make the user onboarding experience effortless and straightforward.

    At the time of writing, SHIB is trading at around $0.000009465, up by over 14% in the last 24 hours, according to data from CoinMarketCap. 

    SHIB crosses $0.0000092 | Source: SHIBUSD on Tradingview.com

    Featured image from Times Tabloid, chart from Tradingview.com

    Scott Matherson

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  • Shiba Inu Team Unveils ‘The SHIB’, What Is It? | Bitcoinist.com

    Shiba Inu Team Unveils ‘The SHIB’, What Is It? | Bitcoinist.com

    The Shiba Inu ecosystem continues to be a bubbling hub of activities with new projects and innovations coming out of the woodwork. The latest addition to this thriving ecosystem is “The SHIB” magazine, and many SHIB community members and crypto enthusiasts are looking forward to what this new publication brings to the ecosystem. 

    The Shiba Inu Magazine Takes Off

    The SHIB community has been brimming with excitement following the launch of ‘The SHIB,’ an exclusive magazine for the Shiba Inu ecosystem and the broader crypto community. Lucie, Shiba Inu’s market specialist made the official announcement of the release of The SHIB in an X (formerly Twitter) post on November 7.

    The publication marks a significant step forward for the Shibarium ecosystem as it serves as a gateway for crypto enthusiasts to obtain accurate and insightful information on Shiba Inu’s growth and evolution as well as the latest updates on disruptive blockchain technology and crypto industry developments. 

    The magazine will also cover a wide range of topics including Shibarium product updates and developments, community updates, trending tokens, exclusive interviews with key figures in the crypto industry, and entertainment events in the Shib ecosystem. 

    The SHIB magazine has also incorporated special features for users including a Non-fungible Token (NFT) minting feature which allows users to mint the cover of the newest edition of The SHIB magazine. Users can also collect many of these minted NFTs and trade them later.

    Additionally, the SHIB team has launched their Shib Name Service (SNS) allowing users to get their personalized SHIB names which come with a privacy feature that safeguards their online identity and allows easier access to The SHIB. 

    ‘The SHIB’ On A Rocky Start

    The highly welcomed Shiba Inu magazine, The SHIB has taken an unexpected turn as technical issues emerged following its release. 

    A Shib community member, Kaal revealed that the self-custodial authentication system integrated into The SHIB magazine was having several technical difficulties which was negatively impacting the experience of users. 

    “The newly introduced self-custodial authentication system as part of The Shib magazine is having some technical issues for some users, we are working towards fixing this as soon as possible,” Kaal stated. 

    Lucie also informed users of other technical challenges in The SHIB platform. She explained that the website’s login feature was temporarily unavailable and apologized for the delay and inconvenience caused by the issue. 

    Lucie assured SHIB community members that the technicalities were minor and promised to continually update members on the platform’s progress, adding that the Shib team was actively working towards solving the problem. 

    “We want to inform you that our log-in feature is temporarily unavailable due to a minor issue on our website. Please rest assured that we are aware of the situation and our team is actively working to resolve it,” Lucie stated.

    SHIB price holding above $0.000008 | Source: SHIBUSD on Tradingview.com

    Featured image from Watcher Guru, chart from Tradingview.com

    Scott Matherson

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  • XRP And Shiba Inu Rally Is Not Over According To This Indicator

    XRP And Shiba Inu Rally Is Not Over According To This Indicator

    The crypto industry saw a spectacular run in October, as a few cryptocurrencies like Bitcoin and Solana registered new yearly highs. However, the entire market seems to be taking a breather after this action-packed October that saw Bitcoin, XRP, and Shiba Inu lead impressive rallies. 

    On-chain data, particularly from the crypto analytics platform Santiment, showed October ended on a somehow bearish note. But history from this particular metric suggests that the rally might not be over. 

    XRP And Shiba Inu Rally Not Over

    The first few days of November appear to be devoid of significant crypto price movement, with the exception of occasional whale transfers. At the time of writing, XRP and SHIB are down by 1% and 2%, respectively, in a 24-hour timeframe. Bitcoin and Ethereum are also down by 2.51% and 1.93% respectively. Some crypto experts attribute this decline to traders taking profit, while others think the crypto market has returned to its normalcy of bearish sentiment.

    Popular crypto analytics platform Santiment predicted this sentiment a few days ago. According to Santiment, the Bullish Vs Bearish Sentiment Keyword turned towards a bearish ratio at the end of October. The metric, which tracks various keyword mentions like “buy,” “sell,” “buying,” “selling,” “topped,” and “bottom” on social media, spent the bulk of October on the bullish end of its range.

    The firm quickly pointed out that previous instances of higher ratios of bearish keywords had preceded gains in the market caps of popular cryptocurrencies. Aside from Bitcoin, on-chain metrics and fundamental analysis point to a continued rally for XRP and SHIB. These two cryptocurrencies, in particular, have dominated social mentions in the past few months, according to this indicator.

    Altcoins Still Poised For Growth

    On the fundamental side, XRP has done extremely well, especially as trading resumed on various crypto exchanges. XRP is up by 32% since the beginning of the year, and various analysts have pointed to another price surge. 

    A look into XRP’s price action shows a series of higher low formations since October 30, indicating waning pressure from the bears. XRP is now trading at $0.6036, and the bulls could make another attempt to break over the latest higher high of $0.62 if the price stays above $0.60.

    SHIB has also had a similar path, with updates to its ecosystem like Shibarium contributing to various price surges. SHIB’s price momentum has slowed down at the time of writing, but planned updates to the Shina Inu ecosystem could lead to another price rally soon. 

    At the same time, on-chain signals point to more bullish than bearish. SHIB whales have resumed large transfers to private wallets, as shown by data from Whale Alerts. SHIB is trading at $0.000007788 at the time of writing.

    Despite the entire market cap being down by 2.24% in the past day, data from Coinmarketcap points to greed on the Fear & Greed Index.

    SHIB holding steady above $0.000007 | Source: SHIBUSD on Tradingview.com

    Featured image from Medium, chart from Tradingview.com

    Scott Matherson

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  • Shiba Inu Accumulation: You Won’t Believe How Much SHIB Whales Have Bought

    Shiba Inu Accumulation: You Won’t Believe How Much SHIB Whales Have Bought

    Shiba Inu is up by 12.15% in a 7-day timeframe as investors continue to accumulate cryptocurrencies in the wider crypto market. However, on-chain data has shown that accumulation has been going on for a while, with SHIB whales now accumulating $300 million in the past three months. 

    Shiba Inu Whales Have Been Accumulating Large Amounts Of SHIB

    On-chain data from IntoTheBlock has shown that SHIB whales, meaning large holders, have been accumulating huge amounts of SHIB over the last few months. Large holders in the Shiba Inu ecosystem are divided into 12 whales (those with more than 1% of circulating supply) and 47 investors (those with more than 0.1% of circulating supply). These top SHIB wallet addresses have added an increase of +33.17%, around $300 million worth of SHIB in just the last 90 days.

    Data from the on-chain tracker Whale Alerts has shown various massive transfers during this time period. When investors accumulate large amounts, it often signals an incoming price rally. 

    These massive accumulations by large holders point to their bullish belief in SHIB, despite the crypto having a weak momentum before the ongoing spike in the crypto market. 

    This accumulation can, for the most part, be traced back to the introduction of Shibarium. The layer-2 solution developed by Shiba Inu, known as Shibarium, has had a good deal of success. At the time this article was written, the Shibarium blockchain had a total of 3,685,073 transactions and 1,257,858 wallet addresses.

    SHIB Future Outlook

    SHIB has had a price spike in relation to the ongoing inflow of funds into the crypto market currently being spearheaded by Bitcoin. At the time of writing, SHIB is trading at $0.00000784 after facing rejection at the $0.0000082 mark. 

    Bulls have defended the $0.0000061 support level and $0.0000077 levels very strongly to form support after the price tested the latter level multiple times. A sustained move above $0.0000082 could send SHIB skyrocketing to its August high of $0.00001137.

    Large SHIB holders now hold 71% of the total circulating supply, and some of them can manipulate the price to their advantage. While whale accumulation is a positive sign, there are other things to consider regarding SHIB’s price outlook. On the other hand, the Shiba Inu developers and team leaders have pointed at upcoming projects in the ecosystem, one of which is a stablecoin based on Shibarium. If successful, a SHIB-based stablecoin could attract new investors to the Shiba Inu ecosystem, leading to a strong SHIB price spike.

    SHIB price readies to test $0.000008 | Source: SHIBUSD on Tradingview.com

    Featured image from iStock, chart from Tradingview.com

    Scott Matherson

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