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Tag: Shiba Inu

  • 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. 

    Related Reading

    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.

    Related Reading

    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.

    Related Reading

    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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  • We Asked ChatGPT if Shiba Inu (SHIB) Can Become a Top 5 Cryptocurrency This Year

    We Asked ChatGPT if Shiba Inu (SHIB) Can Become a Top 5 Cryptocurrency This Year

    TL;DR

    • Shiba Inu (SHIB) saw a price surge earlier this year but has since lost some of its momentum. ChatGPT sees low chances of reaching the top 5 cryptocurrencies despite further growth from Shibarium and a strong community.
    • Dogecoin (DOGE), backed by Elon Musk and Tesla, has better prospects for entering the elite club, driven by potential celebrity endorsements and market optimism.

    Is That a Mission Impossible?

    The popular meme coin experienced an impressive revival earlier this year, with its price tapping a two-year high in March. Back then, its market capitalization surged above $25 billion. Despite heading south in the following months, the asset remains one of the hottest topics across the community and one of the 15 biggest cryptocurrencies.

    As such, we decided to ask ChatGPT whether it can witness another substantial rally in the following months and whether it can enter the top 5 club before the end of 2024.

    The AI-powered chatbot said the chances are relatively low considering the current market dynamics. However, it claimed that SHIB has shown significant progress as of late, suggesting that further advancement of the layer-2 scaling solution—Shibarium—and other developments related to Shiba Inu’s ecosystem can help achieve that goal.

    ChatGPT also noted the meme coin’s devoted community, assuming that its potential growth could be beneficial for a price rally. A recent study revealed that Shiba Inu has the strongest community base among all meme coins, with Dogecoin (DOGE) occupying the second spot. 

    Last but not least, the chatbot maintained that favorable regulatory developments and endorsements from prominent figures might fuel additional adoption and price surge.

    “Overall, while Shiba Inu has opportunities for growth and can achieve significant milestones, becoming a top 5 cryptocurrency would require extraordinary gains and favorable conditions. This remains an ambitious and challenging goal given the current market landscape and competition,” Chat GPT concluded.

    Currently, Solana is the fifth-largest cryptocurrency, with a market cap of over $77 billion, meaning a gap of over $60 billion between SOL and SHIB.

    What About Dogecoin (DOGE)

    Dogecoin is the biggest meme coin, and according to ChatGPT, it has better chances to join crypto’s top 5 club this year. The chatbot assumed that the asset’s market cap could head north following possible support from celebrities. 

    Recall that DOGE is the favorite cryptocurrency of Tesla’s CEO – Elon Musk. One of the wealthiest people often praises its merits, whereas the EV giant recently integrated the token as a payment option on its website.

    In addition, ChatGPT noted that many industry participants are quite bullish on DOGE, expecting its price to soar in the following months. The popular X user Ali Martinez argued that the asset faces “significant resistance” between $0.166 and $0.171, where 75,000 addresses have accumulated approximately 10 billion coins. 

    “However, once this barrier is overcome, DOGE has the potential to double, with the next key resistance around $0.322,” he predicted.

    As of the moment, DOGE has a market capitalization of more than $23 billion, making it the ninth-biggest in the crypto industry. 

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    Dimitar Dzhondzhorov

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

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

    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.

    Christian Encila

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  • Importnat Shiba Inu (SHIB) Update Coming Up Next Week: Details

    Importnat Shiba Inu (SHIB) Update Coming Up Next Week: Details

    TL;DR

    • Shiba Inu’s layer-2 scaling solution is set for a major update on May 2, aiming to enhance user experience and streamline transaction fees.
    • The amendment aims to improve the platform’s security, with more details to be shared closer to the launch date.

    The Approaching ‘Transformative Upgrade’

    The team behind Shiba Inu announced on X that the layer-2 scaling solution, Shibarium, will undergo an important update on May 2 through “an upcoming hard fork.” 

    The advancement aims to enhance user experience, empower the community of developers and innovators, implement quicker block processing times, and respond directly to community feedback.

    “We are also smoothing out transaction fee variations during high traffic times, making costs more predictable and fair for everyone. This ensures our platform remains affordable and accessible,” the team added.

    Shiba Inu’s developers raised hopes that the upcoming changes will make Shibarium easier to use and more “robust and secure.” The update is also expected to boost the efficiency of the burning mechanism, which has witnessed significant progress lately.

    Last but not least, the team said the active participation of the SHIB army in such an amendment is “crucial,” adding that more details will be presented “as we get closer to launch.”

    Earlier this month, Shibarium underwent another key upgrade. The developers introduced a new user interface (UI), describing it as “faster, smoother, and more accessible than ever.” It enables compatibility with popular self-custody wallets, including Coinbase Wallet, MetaMask, and Trust Wallet. 

    Shibarium’s Future Roadmap

    Besides announcing the aforementioned essential updates, the Shiba Inu team unveiled the main agenda for Shibarium in the next two years. The network’s marketing strategist, using the X handle LUCIE, said the development of the DeFi platform ShibaSwap and the application Shiba Hub came first on the list.

    The launch of the TREAT token (a governance cryptocurrency of the upcoming layer-3 blockchain) and an enhanced focus on K9 Finance (a liquid staking derivative platform for the Shibarium network) were mentioned, too.

    Those willing to know how the L2 scaling solution aims to foster the advancement of the Shiba Inu ecosystem can take a look at our dedicated video below:

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  • Important Ripple vs SEC Development, Bitcoin (BTC) Price Retreat, and More: Bits Recap April 18

    Important Ripple vs SEC Development, Bitcoin (BTC) Price Retreat, and More: Bits Recap April 18

    TL;DR

    • After hitting a record high of around $73,800, Bitcoin (BTC) experienced a sharp correction to nearly $60,000. Despite the downturn, the upcoming halving on April 19 might trigger a bull run.
    • Ripple is gearing up for a trial against the US SEC set for April 23. This legal battle continues to capture attention, with significant updates expected soon.
    • Despite a recent 22% drop in its market value, Shiba Inu (SHIB) shows signs of potential recovery. Factors such as an increased burn rate and advancements in its layer-2 solution – Shibarium – may trigger a future rally.

    BTC’s Stubborn Correction

    The primary cryptocurrency stole the show in March, with its price rising to a new all-time high of approximately $73,800 and trading above the $70K mark for a while. However, the start of this month offered a severe correction, which intensified in the last few days.

    As CryptoPotato reported, the asset’s value plunged to nearly $60,000 on April 17, triggering over $200 million in liquidations.

    Some factors that might stand behind BTC’s downfall lately could be reports hinting that the US Fed may raise interest rates in the world’s largest economy instead of pivoting from its aggressive anti-inflationary policy. The escalating tension between Israel and Iran and fears of another war might also have contributed to the decline, which affected traditional finance, too.

    Still, numerous optimistic elements are signaling that Bitcoin’s retreat may soon be replaced by a bull run, with the upcoming halving being the most obvious one. Following the event, scheduled for April 19, rewards distributed to miners for validating blocks on the BTC blockchain will be slashed in half.

    This decreases the amount of coins entering the market, making them scarcer and potentially more valuable in time (assuming demand increases or stays the same).

    Historically, each halving in the past was a precursor for a significant resurgence of the entire cryptocurrency sector. Those curious to learn more about the event and prepare for it, feel free to take a look at our dedicated video below:

    Ripple vs. SEC

    Perhaps the most important news circulating around Ripple lately are the updates related to the lawsuit against the United States Securities and Exchange Commission (SEC).

    Earlier this week, several X users assumed a settlement between the entities might be just around the corner due to a final pretrial conference held before Judge Netburn on April 16.

    Nonetheless, Stuart Alderoty – Chief Legal Officer of Ripple – said Ripple and the SEC await the start of the trial (set for April 23), rejecting the option of a mutual agreement before that date. He also clarified that the firm will file its response to the regulator’s request for penalties by April 22, whereas the Commission’s reply should come by May 6.

    Is SHIB Poised for a Rally?

    Shiba Inu – the second-largest meme coin by market capitalization – is among the worst-affected cryptocurrencies during the ongoing crash, with its price dropping by 22% on a weekly scale. 

    Essential indicators, though, hint it may return to green territory soon. Such factors include the asset’s burn rate increase, the advancement of the layer-2 scaling solution Shibarium, and the negative SHIB exchange netflow.

     

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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 Dips Below $0.00003 Again

    Shiba Inu Dips Below $0.00003 Again

    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.

    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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  • Ripple Price Predictions, Shiba Inu (SHIB) Developments, and More: Bits Recap March 18

    Ripple Price Predictions, Shiba Inu (SHIB) Developments, and More: Bits Recap March 18

    TL;DR

    • Bitcoin hit a new all-time high of over $73,500 but dropped to $65,000, now recovering to over $68,600. Upcoming FOMC meeting and BTC halving could drive another price surge.
    • Shiba Inu (SHIB) saw a decline but performed better than BTC, with a significant price increase.
    • XRP remains stable between $0.60-$0.63, with predictions of a significant upcoming rally influenced by technical analyses and market trends.

    How’s BTC Doing?

    The price of the primary cryptocurrency reached a fresh all-time high of over $73,500 on March 14, following an impressive performance since the end of February. However, it could not keep the momentum, and its valuation plunged significantly over the weekend to as low as $65,000 (per CoinGecko’s data).

    BTC has recovered some of its losses and is currently trading at more than $68,600. Meanwhile, some upcoming events could ignite another rally for the asset. One example is the Federal Open Market Committee (FOMC) meeting scheduled for March 20. 

    America’s central bank previously promised to start reducing the interest rates, and we are yet to see whether the pivot will begin this week. Lowering the benchmark could allow more individuals and entities to deal with risk-on assets by securing outside funding, resulting in a surging price for Bitcoin. A survey conducted in 2022 estimated that 21% of the participants have taken loans to invest in crypto.

    Another factor worth observing is the BTC halving, which will take place next month. The event occurs roughly every four years and cuts in half the rewards distributed to miners for validating new blocks on the Bitcoin blockchain, thus reducing the rate at which new coins are produced. 

    It is a key part of BTC’s anti-inflationary feature that will make the asset scarcer and potentially more valuable in time. Those willing to learn more about it, feel free to check our video below:

    SHIB is Well in the Green

    The popular meme coin – Shiba Inu (SHIB) – also nosedived over the weekend but recorded more impressive comeback that BTC. As of the moment, the self-proclaimed Dogecoin-killer trades at approximately $0.00002876, an 13% increase on a 24-hour scale. Meanwhile, it remains one of the best performers in the past month, with its price skyrocketing by 200% for that period.

    Numerous analysts think SHIB is about to experience another substantial uptick in the near future. The X user JAVON MARKS noted the “massive strength” shown by the token as of late, predicting a nearly 150% rally in the event of overcoming a vital resistance level.

    “A break and hold above $0.000081 may only open up room for another +90% upside to $0.0001553,” the analyst concluded.

    Elements like the burning mechanism and the further advancement of Shibarium can also trigger a price ascent. Earlier this month, the burn rate exploded to a whopping 30,000% at one point, while today, it spiked by over 2,000%.

    For its part, total transactions on the layer-2 scaling solution Shibarium exceeded the 400 million mark, with wallet addresses inching toward 4 million.

    XRP Forecasts

    Ripple’s XRP has consolidated at the $0.60-$0.63 zone in the last week, but experts remain optimistic that a significant rally will be just behind the corner. 

    The X user EGRAG CRYPTO envisioned a bright future for the token and “life-changing, double-digit price targets.” They claimed XRP is currently in a so-called “bouncy-bounce” range, meaning the bull’s actions can greatly affect the valuation.

    EGRAG CRYPTO claimed that a breakout above the so-called “Fib 0.382 level” might result in a price rally to almost $1 in April. 

    Dark Defender also chipped in, doubling down on their previous stance that XRP is poised for a jump toward $1.88 and an all-time high of $5.85.

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  • Dogecoin, Shiba Inu face sharp declines as market corrects

    Dogecoin, Shiba Inu face sharp declines as market corrects

    Dogecoin (DOGE) and Shiba Inu (SHIB), two of the biggest meme coins by market cap, have both lost ground in the last 24 hours.

    DOGE, which is currently ranked ninth with an overall value of over $21 billion, shaved off more than 8% from its price amid a broader market correction. 

    While it ranked 12th in terms of daily trading volume, the $2 billion worth of DOGE that changed hands in the last 24 hours represented a 47% drop from the previous day’s levels.

    Dogecoin 24-hour price chart | Source: CoinGecko

    Over 30 days, Dogecoin’s current price is still a 75.8% improvement; however, it marks a steep 15.6% decline over seven days.

    Dogecoin’s drab performance comes in the wake of a mysterious whale offloading more than $14 million worth of DOGE onto Robinhood.

    Shiba Inu, another popular meme coin, has not faired any better. At the time of going to press, it was down 9.6%, per data from CoinGecko. The coin’s performance over the previous seven days was just as dismal, losing more than 26% of its value.

    Dogecoin, Shiba Inu face sharp declines amidst market correction - 2
    Shiba Inu 24-hour price chart | Source: CoinGecko

    However, the news is better for long-term holders, with SHIB’s current price being 163% higher than it was a month ago.

    As indicated by crypto.news analyst Ibrahim Ajibade, Shiba Inu has witnessed a notable change in its long-term investor demographics, with on-chain numbers indicating a decrease of 20,000 long-term investors in early March. 

    With long-term investors playing a vital role in the health of any cryptocurrency, a reduction in their numbers could potentially signal bearish trends to both current and prospective market participants, leading to the dip being witnessed.

    Alongside the two meme coins, several other heavy hitters, including Polkadot (DOT), Toncoin (TON), and Chainlink (LINK), have also seen their prices come down from their level 24 hours ago. 

    Of the three, DOT has been the least affected, losing 3.8% then. Currently priced at about $10, the coin has a market capitalization of $13.4 billion, making it the 13th largest cryptocurrency. 

    Dogecoin, Shiba Inu face sharp declines amidst market correction - 3
    Polkadot 7-day price chart | Source: CoinGecko

    While its price is 10.2% higher than it was 2 weeks ago, the last seven days have not been kind to Polkadot, with the coin surrendering 4.7% of its value in that time.

    Currently priced at $18.43, Chainlink has had a month full of peaks and troughs, as can be seen in the chart below. Its price across all timeframes is in the red, with the biggest difference being the 13.4% dip over the last two weeks.

    Dogecoin, Shiba Inu face sharp declines amidst market correction - 4
    Chainlink 30-day price chart | Source: CoinGecko

    In the previous 24 hours, the price of LINK dropped 4.8%, marking about $624 million in trading volume.

    In contrast, Toncoin has had a much better two weeks, with its price up 30.4% in that period.

    The coin is still holding most of the value it gained following Telegram’s announcement of an ad revenue-sharing scheme that will utilize the TON.

    Dogecoin, Shiba Inu face sharp declines amidst market correction - 5
    Toncoin 30-day price chart | Source: CoinGecko

    Its performance over the past seven days has also been positive. The price rose more than 225%, mostly buoyed by Telegram co-founder Pavel Durov saying the platform was considering an initial public offering.

    However, over the last 24 hours, TON dropped 8.1% as it failed to overcome broader market contractions.


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    Julius Mutunkei

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

    BONE Garners 20,000 Picks On Binance Futures NEXT Program

    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.

    Scott Matherson

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  • Shiba Inu (SHIB) Outperforms Ripple (XRP), Solana (SOL), and Cardano (ADA) in This Important Metric: Details

    Shiba Inu (SHIB) Outperforms Ripple (XRP), Solana (SOL), and Cardano (ADA) in This Important Metric: Details

    TL;DR

    • Shiba Inu sees significant gains for another consecutive day.
    • The token flipped some of the leading alternative coins in terms of transaction volume.

    The rally of Shiba Inu (SHIB), witnessed in the past few days, seems to be going strong. The asset’s price is well in the green today (March 4), surging by 30% in the last 24 hours and 180% on a weekly scale.

    In addition, SHIB’s market capitalization exceeded $16 billion for the first time in two years, making it the 12th biggest cryptocurrency.

    The impressive performance surrounding the second-largest meme coin does not end here. According to CoinGecko’s data, SHIB’s daily trading volume has reached $5.4 billion at the time of this writing, thus surpassing some leading altcoins. 

    Solana’s SOL has experienced a trading volume of around $3.2 billion for the same period, Ripple’s XRP has accounted for $2.1 billion, while Cardano (ADA) lags with $1.2 billion.

    Shiba Inu’s gains coincide with the spike of numerous indicators related to its ecosystem. As CryptoPotato reported, the asset’s burning rate exploded by 30,000% at the end of last week, while total transactions on Shibarium near the 400 million mark.

    The latter is a layer-2 scaling solution designed to elevate SHIB above its rivals by lowering transaction fees and improving speed. More information about the network could be found in the video below:

    The overall market revival and the frenzy surrounding the meme coin sector signal that SHIB might be on the verge of a further price explosion.

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  • Shiba Inu (SHIB) Price Explodes 130% in a Week: Here’s How Many Holders are Currently in Profit

    Shiba Inu (SHIB) Price Explodes 130% in a Week: Here’s How Many Holders are Currently in Profit

    TL;DR

    • Shiba Inu experienced a substantial price increase, outperforming major cryptocurrencies and bringing profits to a majority of its holders (at least on paper).
    • Its market cap rose notably, making it one of the top digital assets, but the token remains a risky investment due to its volatility.

    Shiba Inu’s Massive Resurgence

    The second-largest meme coin – Shiba Inu – was not among the best-performing cryptocurrencies last week when the market started booming. However, it quickly caught up with the gains recorded by Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Dogecoin (DOGE), and other digital assets and even outperformed them on a weekly scale.

    SHIB currently trades at approximately $0.00002119 (per CoinGecko’s data), a 130% price increase for the past seven days.

    SHIB Price
    SHIB Price, Source: CoinGecko

    Hitting a fresh 23-month high has benefited hundreds of thousands of Shiba Inu holders who have previously invested in the token. According to IntoTheBlock, more than 63% of those with exposure to the meme coin currently sit on paper profits. The trend was much different in September last year when around 90% of holders were underwater.

    SHIB’s price explosion coincides with a considerable spike in some essential metrics related to the coin’s ecosystem. Aggregated daily volume (where each transaction exceeds $100,000) surpassed the $1 billion mark, whereas daily active addresses reached almost 30,000 (a 230% increase compared to the figure observed on March 2).

    SHIB Climbs the Crypto Ladder

    Shiba Inu’s market capitalization skyrocketed from approximately $6 billion on February 27 to $13.5 billion at the start of March. Currently, the figure hovers at the $12.5 billion level, making SHIB the 12th biggest cryptocurrency. 

    To reach the current spot, it surpassed leading altcoins, such as Bitcoin Cash (BCH), Polygon (MATIC), Polkadot (DOT), TRON (TRX), and more. 

    Despite the triple-digit price increase in a matter of days and the chance of making substantial profits, investing in Shiba Inu and meme coins remains dangerous due to the infamous volatility of the realm, meaning investors should be extra cautious when diving in.

    Those willing to deeply explore the niche, find out which are the biggest tokens, and the risks associated with them could take a look at our dedicated video below:

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    Dimitar Dzhondzhorov

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