ReportWire

Tag: Shiba Inu (SHIB)

  • DOGE, SHIB, PEPE Explode: Is Meme Coin Frenzy Back in Full Force?

    Some of the biggest gainers over the past several days have been meme coins.

    The broader cryptocurrency market has signaled its first revival signs of the year after the painful Q4, 2025, in which many assets posted double-digit declines, pushing analysts to question the overall industry state.

    Interestingly, the biggest gainers since Friday come from the meme coin niche, which could signal a significant change in investor behavior.

    Data from CoinGecko shows that BONK has emerged as the top performer in the past 24 hours. The asset has returned to the top 100 alts by market cap after suring by 40% daily and more than 60% since this time last Sunday.

    PEPE follows suit. The frog-shaped meme coin is up by 13% daily and more than 66% weekly. Shiba Inu is also well in the green on both charts, 11% and 21%, respectively.

    Dogecoin became the biggest gainer from the larger-cap alts. The OG meme coin has surged by 6% since yesterday and 23% weekly. The Official Trump (TRUMP) token has performed even better today (a 7% surge), perhaps due to the most recent actions undertaken by the US President.

    In a statement to CryptoPotato, Jake Kennis, Senior Research Analyst at Nansen, said this early-year rotation into larger-cap meme coins may suggest “traders are positioning for upside after months of consolidation.” He added that these more speculative assets have been some of the hardest hit during the October crash in terms of downside volatility.

    “Markets may have been extremely bearish on memes based on price action and the risk appetite not being there,” he added.

    However, Kennis admitted that the meme coins have been trending down relative to bitcoin, and these brief upticks would “have to be confirmed on higher timeframes as both PEPE and DOGE are still down around 80% from their respective ATHs.”

    You may also like:

    SPECIAL OFFER (Exclusive)

    SECRET PARTNERSHIP BONUS for CryptoPotato readers: Use this link to register and unlock $1,500 in exclusive BingX Exchange rewards (limited time offer).

    Jordan Lyanchev

    Source link

  • This Shiba Inu Metric Drops to a 4-Year Low: SHIB Comeback on the Way?

    Check out why SHIB may be gearing up for a potential resurgence.

    Shiba Inu is currently a pale shadow of what it was years ago. Its price has been on a severe decline over the past several months, and the asset is no longer part of crypto’s top 30 club.

    However, one important factor signals that a long-awaited rebound could be knocking on the door.

    Time to Rally Again?

    As of this writing, the second-largest meme coin trades at roughly $0.000007478, representing a nearly 70% collapse on a yearly scale. Its market capitalization has fallen below $4.5 billion, making SHIB the 35th-biggest cryptocurrency.

    The shrinking supply of tokens stored on exchanges, though, raises the bulls’ hopes for a short-term resurgence. Data provided by CryptoQuant shows that the amount of SHIB coins on such centralized platforms has dipped to approximately 81.2 trillion on December 28, the lowest level since April 2021.

    SHIB Exchange Reserve
    SHIB Exchange Reserve, Source: CryptoQuant

    This is usually interpreted as a bullish signal because it leads to reduced immediate selling pressure. On the other hand, increasing the exchange reserves is typically seen as a pre-sale step and a precursor of a pullback.

    Just a few days ago, X user Lyvo argued that SHIB has hit its “real bottom,” meaning it might be positioned for a potential rally. The analyst revealed adding exposure for the mid-term and said:

    “People don’t believe in old coins and are selling their bags – that’s a good opportunity for smart money.”

    The Bears to Remain in Charge?

    Numerous other factors, including the burning mechanism, suggest that SHIB’s decline may continue. Data shows that around 30.7 million tokens have been scorched over the past seven days, a 14% decrease compared to the previous week.

    The program’s ultimate goal is to reduce the overall supply of SHIB coins, thus making the asset scarcer and more valuable over time. The team introduced the initiative in 2022, and since then, more than 410.7 trillion have been removed from circulation. Nonetheless, the circulating supply remains substantial at roughly 585.2 trillion tokens.

    SHIB SupplySHIB Supply
    SHIB Supply, Source: shibburn.com

    Shibarium’s stalled progress is another bearish element to consider. The protocol’s security was breached in mid-September, and since then, the network has not been able to reclaim its former glory. Recall that at the start of the year, it was processing millions of daily transactions, thereby advancing the entire Shiba Inu ecosystem.

    SPECIAL OFFER (Exclusive)

    SECRET PARTNERSHIP BONUS for CryptoPotato readers: Use this link to register and unlock $1,500 in exclusive BingX Exchange rewards (limited time offer).

    Dimitar Dzhondzhorov

    Source link

  • SHIB Army Alert: Shiba Inu Team Explains Security Breach – Are Funds Safe?

    TL;DR

    • Reports emerged on Friday that Shiba Inu’s Shibarium could be hacked following several suspicious transactions.
    • The team provided more updates today, indicating that investors’ funds are safe, and also outlined what has been done already and what the next steps are.

    SHIB Security Incident

    After PeckShield flagged the suspicious activity on Friday, the official Shiba Inu channel on X said the team had reached out to external security partners to investigate thoroughly. One of the first updates posted on Saturday noted that a sophisticated attack, which was probably planned for months, was carried out using a flash loan to purchase 4.6 million BONE tokens.

    The attacker gained access to validator signing keys, achieved majority validator power, and signed a malicious state to drain assets from the bridge. As the tokens were delegated to Validator 1, they remained locked (because of unstaking delays), which allowed the team to freeze them.

    A more recent Q&A from the team, reposted by LUCIE, said only a “small amount of ETH/SHIB was moved.” According to another post, the precise amount was 224.57 ETH (valued at around $1 million) and 92.6 billion SHIB (worth roughly $1.33 million).

    Other affected tokens include LEASH, ROAR, TREAT, BAD, and SHIFU, but they have not been moved or sold as of the time of the post. The attacker also tried to sell $700,000 worth of KNINE, but they failed as the K9finance DAO multi-sig blacklisted their address.

    Are Funds Safe and What’s Next?

    The team was adamant that all investors’ funds are safe. Staking and unstaking have been paused, and all funds have been moved and secured in multi-sig cold storage. The team has also engaged with leading security firms, such as PeckShield, Seal911, and Hexens, to investigate the incident further.

    In terms of next steps, the Shiba Inu team said:

    • Secure validator key transfers and confirm full chain integrity.

    • Restore stake manager funds once security is assured.

    • Continue coordinating with partners to freeze attacker-linked funds

    • Publish a full incident report once investigations conclude.

    Despite this incident, the largest native token of the project has skyrocketed in the past 24 hours. SHIB has gained over 9% of value and now sits close to $0.0000145, which is the highest level in about a month.

    SPECIAL OFFER (Sponsored)

    Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).

    LIMITED OFFER for CryptoPotato readers at Bybit: Use this link to register and open a $500 FREE position on any coin!

    Jordan Lyanchev

    Source link

  • Shiba Inu (SHIB) Awakens: Is a Mega Rally About to Begin?

    TL;DR

    • Analysts believe SHIB can soon pump by double and even triple digits.
    • The resurgence of Shiba Inu’s burning mechanism and the sharp rebound in Shibarium activity support the bullish thesis, but the RSI has reached near 70, signaling potential pullback.

    SHIB to Take Center Stage Again?

    The second-largest meme coin has not performed well in the past few months and is currently trading significantly below the local peaks reached at the end of 2024. However, it managed to close last week in green territory, climbing by nearly 5% to approximately $0.00001258 (per CoinGecko’s data).

    SHIB Price
    SHIB Price, Source: CoinGecko

    Some renowned analysts believe the resurgence is yet to reach impressive dimensions. On September 7, Carl Moon – an X user with around 1.5 million followers – claimed that a potential horizontal triangle is forming on SHIB’s daily price chart. That said, he envisioned a 34% pump to around $0.0000403 in the short term. 

    JAVON MARKS was even more optimistic, arguing that “a massive bullish reversal could still be in the cards,” which can lead to a 150% price explosion to $0.000032. It is important to note that the analyst has been consistently outlining this forecast in the past months.

    “Shiba Inu confirms a bullish pattern in a Regular Bull Divergence with the MACD Histogram! What this suggests is a major bullish reversal back to the upside, which can consist of an over 163% move back into the $0.00003s, and that may only be the start,” they said at the start of September.

    Other market observers who recently touched upon the meme coin include Mark.eth and CryptoELITES. The former thinks SHIB can “make you rich” like no other altcoin, whereas the latter predicted a staggering 17x surge to a new historical peak of $0.00023. 

    Examining Some Indicators

    Shiba Inu’s burn rate exploded by over 340,000% in the past 24 hours, resulting in approximately 1.3 million tokens sent to a null address. The program is specifically designed to reduce the overall supply of the meme coin, which can lead to a price rally (if demand stays the same or heads north).

    The layer-2 blockchain solution Shibarium also witnessed a substantial revival. Daily transactions processed on the protocol skyrocketed above 1.2 million on September 6 and nearly 500,000 the following day, marking a massive increase compared to the sub-20,000 transactions recorded towards the end of August.

    Nonetheless, some metrics hint at a bearish scenario. SHIB’s Relative Strength Index (RSI), which measures the speed and magnitude of the latest price changes, has reached almost 70. This suggests the asset could be overbought and poised for a correction. On the other hand, ratios below 30 are interpreted as a buying opportunity.

    SHIB RSI
    SHIB RSI, Source: CryptoWaves
    SPECIAL OFFER (Sponsored)

    Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).

    LIMITED OFFER for CryptoPotato readers at Bybit: Use this link to register and open a $500 FREE position on any coin!

    Dimitar Dzhondzhorov

    Source link

  • Top Ripple (XRP) Price Predictions, Bitcoin’s (BTC) Next Targets, and More: Bits Recap Sep 5

    TL;DR

    • XRP has underperformed lately, but analysts see upside potential. One popular X user thinks the price could explode above $100, which, as of the moment, seems quite unrealistic.
    • BTC is also the subject of optimistic predictions, with targets reaching as high as $150K.
    • SHIB recently saw a 200,000% burn rate spike, fueling optimism. However, weak Shibarium activity and higher exchange inflows suggest short-term downside risk.

    New ATH for XRP Remains Possible?

    The price of Ripple’s native cryptocurrency has hovered between $2.70 and $2.90 in the past week, which represents a substantial decline from the historic peak of over $3.65 registered in July. Still, the optimism among some popular analysts hasn’t disappeared, and they believe XRP is capable of breaking its record again during this bull cycle.

    John Squire (who is a firm supporter of the asset) argued that selling the token now is like “selling ice before summer.” Just a few weeks ago, he made a somewhat ridiculous forecast, envisioning XRP skyrocketing to $134.50. 

    Other market participants who have outlined future price tags (albeit not as bullish as Squire) include Crypto Tony and FOUR | Crypto Spaces. The former expects a resurgence if XRP closes the week above $2.90, whereas the latter predicted an ascent to a new all-time high of $5.06. 

    Meanwhile, the amount of tokens stored on crypto exchanges continues to rise and could spell trouble for the bulls. There are currently more than 3.55 billion coins held on Binance, which is the highest level ever.

    BTC’s Targets

    Despite its slight increase in the past week, the primary cryptocurrency also sits well below its ATH of over $124,000, and as of this writing, it is trading at around $112,000.

    Earlier this week, the popular X user Merlijn The Trader spotted an “inverse head and shoulders” formation on its price pattern, which could be a precursor of a rally towards $150,000. 

    “It’s the supercycle formation. This is the setup of a generation. Don’t fade it,” he assumed.

    Captain Faibik is optimistic, too. He claimed that BTC is “slowly but surely building momentum” and expects a “big bullish” move today after the Nonfarm Payrolls (NFP) report that shows how many new jobs (excluding farm workers, government employees, private household staff, and non-profits) were created in August. 

    On the other hand, analysts like CRYPTO₿IRB recently warned that BTC’s bull market may end in less than two months. The X user based the theory on the historical performance of the asset after previous halvings and former cycle lengths.

    How’s SHIB Doing?

    Lastly, we will touch upon the second-largest meme coin, which is down 50% year-to-date but remains an intriguing topic for the crypto community.

    At one point this week, SHIB’s burn rate exploded by over 200,000% on a 24-hour scale, sparking renewed hopes of an upcoming rally. After all, the burning program aims to reduce the overall supply of the asset, which, combined with non-declining demand, may lead to a soaring price. 

    The X user Mark.eth believes Shiba Inu can “make you rich” like no other altcoin, whereas CryptoELITES envisions a whopping 17x increase to a new all-time high of $0.00023. 

    However, the weak activity on the layer-2 blockchain solution Shibarium and the rising exchange netflows hint at a further correction in the short term.

    SPECIAL OFFER (Sponsored)

    Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).

    LIMITED OFFER for CryptoPotato readers at Bybit: Use this link to register and open a $500 FREE position on any coin!

    Dimitar Dzhondzhorov

    Source link

  • Why Is the Shiba Inu (SHIB) Price Up Today?

    Why Is the Shiba Inu (SHIB) Price Up Today?

    TL;DR

    • Shiba Inu showed strong performance in line with the crypto market’s bullish trend.
    • Increased SHIB burns and Shibarium transactions signal ecosystem growth, though RSI above 70 suggests a possible short-term pullback.

    SHIB Heads North

    The second-largest meme coin in terms of market cap experienced a substantial resurgence in the past 24 hours, with its price tapping a one-month high of $0.00001957. In the following hours, it erased some of the gains, dropping to the current $0.0000189 (per CoinGecko’s data). However, it remains well in the green on a daily and weekly scale. 

    SHIB Price
    SHIB Price, Source: CoinGecko

    Its impressive performance coincides with the reigning bullish environment in the cryptocurrency sector. Several hours ago, bitcoin’s (BTC) price exploded to $73,600 (just $150 away from hitting a new all-time high). As of the moment, it trades at around $72,400, representing an 8% weekly increase.

    Shiba Inu’s burning mechanism is worth mentioning, too. Over the past 24 hours, the burn rate skyrocketed by 450%, resulting in approximately 52 million tokens sent to a null address. The program’s ultimate goal is to decrease the circulating supply of SHIB, potentially driving its valuation up (assuming demand stays the same or rises). 

    Last but not least, we will touch upon Shiba Inu’s layer-2 scaling solution – Shibarium. Daily transactions on the network have soared by 13,500% in the span of 24 hours, suggesting increased user engagement. 

    Shibarium officially saw the light of day last August, aimed at fostering the development of the meme coin’s ecosystem. Those willing to check some of the latest upgrades involving the protocol can read our article here. For more updates on the ecosystem, check out our Shibarium news page.

    Something for the Bears

    Despite the overall bullish conditions mentioned above, one metric indicates a potential retreat for SHIB’s value in the short run.

    This is the Relative Strength Index (RSI), which measures the speed and change of price movements. The momentum oscillator varies from 0 to 100 as a ratio above 70 signals the asset could be overbought and poised for a correction. On the other hand, readings below 30 might be interpreted as a buying opportunity.

    Currently, the index is hovering at the bearish level of 70.

    SPECIAL OFFER (Sponsored)

    Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).

    LIMITED OFFER 2024 at BYDFi Exchange: Up to $2,888 welcome reward, use this link to register and open a 100 USDT-M position for free!

    Dimitar Dzhondzhorov

    Source link

  • Huge Shiba Inu (SHIB) Upgrade Imminent: Details

    Huge Shiba Inu (SHIB) Upgrade Imminent: Details

    TL;DR

    • Shibarium is set for a new upgrade promising exclusive events, rewards, and enhanced utility for future expansion.
    • SHIB rallied 9.5% daily as meme coins gain momentum, with other top performers including DOGE, WIF, and PEPE.

    ‘Big Things on the Way’

    Shiba Inu’s layer-2 blockchain solution – Shibarium – saw the light of day last summer with the main purpose of fostering the ecosystem’s development. Since then, it has completed multiple achievements and underwent numerous upgrades.

    Most recently, LUCIE (Shibarium’s Marketing Strategist) revealed that another advancement is on the way. It aims to bring new opportunities for users, such as exclusive events and rewards. The upgrade will also enhance the utility of the L2 network and allow for future expansion.

    “Shiboshis will play a part in future expansions across the Shib ecosystem, opening doors for unique interactions and potential benefits,” the announcement reads. 

    The previous upgrades unveiled earlier this year include a new user interface (UI) update that enables compatibility with popular self-custody wallets and a hard fork that empowers the community of developers and innovators.

    Last but not least, Shibarium embraced a designated “Burn Portal.” The primary goal is to decrease the circulating supply of Shiba Inu (SHIB) by transferring a portion of tokens to a null address, making it more scarce (and possibly more valuable if demand remains steady or increases).

    SHIB Price Outlook

    Shibarium’s development is sometimes closely related to the price performance of the meme coin. SHIB experienced a 9.5% rally in the last 24 hours, while its market capitalization surpassed $11 billion once again.

    SHIB Price
    SHIB Price, Source: CoinGecko

    The revival aligns with the overall bullish environment in the sector, with Bitcoin (BTC) crossing $71,000 for the first time since June.

    The meme coin niche took center stage, too. Dogecoin (DOGE) is up 16% for the day, while Popcat (POPCAT) hit a new all-time high of $1.75. Other notable gainers include dogwifhat (WIF), Pepe (PEPE), Floki Inu (FLOKI), Brett (BRETT), and more. 

    SPECIAL OFFER (Sponsored)

    Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).

    LIMITED OFFER 2024 at BYDFi Exchange: Up to $2,888 welcome reward, use this link to register and open a 100 USDT-M position for free!

    Dimitar Dzhondzhorov

    Source link

  • Shiba Inu’s Shibarium Blasts Through Another Key Milestone, What Does it Mean for SHIB?

    Shiba Inu’s Shibarium Blasts Through Another Key Milestone, What Does it Mean for SHIB?

    TL;DR

    • Shiba Inu’s Shibarium hit a fresh target, signaling strong user engagement.
    • Despite this, SHIB’s price has recently declined, though some analysts see potential for a rebound.

    Moving on to The Next Target

    Shiba Inu’s team launched Shibarium (a layer-2 blockchain solution) to improve the scalability, speed, and cost-effectiveness of transactions within its ecosystem. The network saw the light of day in August last year, achieving significant success in the first months of its existence.

    Daily transactions on the protocol were in the millions while the number of active accounts was also substantial, signifying high user engagement. Shibarium stalled its progress in Q2 and Q3 this year before witnessing another resurgence in the past several days. Recall that the combined processed transactions on October 22, October 23, and October 24 reached almost 10 million.

    This resulted in a new massive milestone for the L2 scaling solution, with total transactions exceeding a whopping 430 million. Data shows that wallet addresses are inching toward 2 million, whereas total blocks have gone above 7.5 million. 

    Shibarium implemented essential upgrades in the past months to improve user experience and introduce other benefits. In April, the team launched a new user interface (UI) update, describing it as “faster, smoother, and more accessible than ever.” Its primary goal was to enable better compatibility with popular self-custody wallets such as Coinbase Wallet, MetaMask, Trust Wallet, and others.

    Shortly after, the protocol underwent another upgrade via a hard fork. It aimed at enhancing user experience, implementing quicker block processing times, and empowering the community of developers and innovators.

    SHIB Price Reaction

    Shibarium’s further advancement is often touted as a factor that could positively affect Shiba Inu’s price. Nonetheless, the meme coin has been underperforming lately, with its valuation plunging by over 6% in the past week.

    SHIB Price
    SHIB Price, Source: CoinGecko

    According to crypto analytics platform Santiment, SHIB was among the top 10 cryptocurrencies involved in the most bearish narratives on October 23 (the day when the digital asset market experienced a significant correction). The entity, though, claimed that the negative sentiment could be a precursor of a rally in the short term:

    “Markets typically move the opposite direction of the crowd’s expectation, meaning the bearish narratives surrounding these coins can lead to rewarding results for those willing to go against the crowd selloffs that are beginning to mount.”

    SPECIAL OFFER (Sponsored)

    Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).

    LIMITED OFFER 2024 at BYDFi Exchange: Up to $2,888 welcome reward, use this link to register and open a 100 USDT-M position for free!

    Dimitar Dzhondzhorov

    Source link

  • Цена SHIB выросла на 23% благодаря FOMO – что будет дальше с Shiba Inu?

    Цена SHIB выросла на 23% благодаря FOMO – что будет дальше с Shiba Inu?

    • За последние девять дней курс Shiba Inu вырос на 43%, достигнув 10-недельного максимума $0,000019.
    • Увеличение объема торгов, активность китов и транзакции на цепочке способствовали росту бычьих настроений.

    За последние девять дней курс Shiba Inu (SHIB) значительно вырос благодаря увеличению активности на цепочке, что подстегнуло бычьи настроения на рынке. Монета-мем достигла 10-недельного максимума, обойдя другие популярные монеты-мемы и привлекая внимание трейдеров и инвесторов.

    Цена Shiba Inu находится на восходящем тренде, увеличившись на 43 % за последние девять дней и на 23 % за последние сутки. В результате роста SHIB достиг отметки $0,000019 — самого высокого уровня за последние десять недель, что подчеркнуло впечатляющие результаты токена в секторе мем-монет. Например, SHIB вырос за неделю, в то время как вторая по рыночной стоимости среди 10 лучших мем-монет — Doge (DOGE) — подорожала на 27,4 %.

    Недавний рост цен также сыграл свою роль в более продолжительном бычьем росте на криптовалютном рынке. Другой движущей силой является увеличение объема торгов и других показателей на цепочке, которые свидетельствуют о том, что инвесторы действительно обращают внимание. Как сообщает Santiment, 26 сентября объем торгов SHIB вырос до 1,19 миллиарда SHIB, и трейдеры стремились извлечь выгоду из растущего тренда.

    Активность китов растет, увеличивается количество сделок на миллионы долларов

    Более того, объем торгов значительно вырос, как и активность китов в экосистеме Сиба Ину. 26 и 27 сентября в сети SHIB второй раз за два месяца были отмечены сделки на сумму свыше 1 миллиона долларов. Рост числа дорогостоящих сделок свидетельствует о том, что крупные инвесторы, известные как «киты», вовлечены в нынешнее рыночное ралли и создают дополнительный пар для роста цен на SHIB.

    Кроме того, увеличилось количество отдельных токенов SHIB, торгуемых через платформу, поскольку 26 сентября общее количество SHIB в обращении составило около 5,7 триллиона. Повышение активности в сети Shiba Inu, вызванное растущим интересом рынка и постоянными улучшениями, вероятно, способствовало росту оборота.

    Средидругих факторов, способствовавших позитивному прогнозу, — интеграция жидкого стейблинга в сеть Shibarium и увеличение скорости сгорания SHIB. За один день рыночная капитализация экосистемы Shiba Inu увеличилась на 3,3 миллиарда долларов, что доказывает, что проект развивается с бешеной скоростью и привлекает инвестиции.

    Эксперты предупреждают о потенциальном FOMO и краткосрочных колебаниях цен

    Несмотря на то что цена SHIB и транзакций на цепочке в последнее время значительно выросла, эксперты предостерегают инвесторов от чрезмерного увлечения. Анализ Santiment показывает, что текущий резкий рост цены SHIB может привести к возникновению у инвесторов настроения FOMO, что может привести к краткосрочным колебаниям цены SHIB, пока рынок находит свой диапазон.

    Однако сегодня на рынке все еще много проблем, хотя он продолжает активно расти. Если цена на Shiba Inu достигнет $1, это будет означать беспрецедентный рост объема торгов и внимания инвесторов. В анализе также отмечается, что может потребоваться период охлаждения для поддержания «бычьего» тренда и предотвращения внезапных разворотов рынка.

    Source link

  • Shiba Inu (SHIB) Price Increased by 50% in the Past 9 Days, is a Correction Imminent?

    Shiba Inu (SHIB) Price Increased by 50% in the Past 9 Days, is a Correction Imminent?

    TL;DR

    • Shiba Inu (SHIB) surged 50% in two weeks, but indicators like high FOMO and an elevated RSI hint at a potential pullback.
    • The rally is possibly fueled by overall market momentum, Shibarium advancements, a spike in burn rate, and the expected launch of a Shiba Inu-related stablecoin.

    Further Rally or Time for a Correction?

    Shiba Inu (SHIB) is undoubtedly among the top crypto performers as of late, registering a 50% price increase in less than two weeks. Currently, it trades at around $0.0000196, representing a 10-week high. Its market capitalization exceeded $11.5 billion, making it the 14th-biggest cryptocurrency. 

    SHIB Price
    SHIB Price, Source: CoinGecko

    Despite the overall bullish conditions, some important elements signal that SHIB’s valuation may head south soon. Crypto analytics platform Santiment estimated that the FOMO (Fear of Missing Out) had reached a “significant” level, meaning the local top might be reached. 

    FOMO is a psychological phenomenon where investors feel anxious about missing a potentially profitable opportunity, leading them to make impulsive and emotionally driven decisions. It often occurs when prices are already on an upward trend, coinciding with hype on social media platforms.

    The price surge of cryptocurrencies during high FOMO periods is often unsustainable as it’s driven more by emotions than fundamentals. As such, it might indicate that a pullback could be imminent. 

    Another factor suggesting that SHIB’s uptick might be interrupted soon is the asset’s rising Relative Strength Index (RSI). The technical analysis tool measures the change and speed of price movements. It varies from 0 to 100, with readings above 70 hinting that SHIB is overbought and potentially heading toward a correction. The RSI is currently set at a seven-month high of 90.

    What’s Fueling the Rally?

    SHIB’s price revival aligns with the bullish condition of the entire cryptocurrency market, where Bitcoin (BTC) trades just south of $66,000, while Ethereum (ETH) surpassed $2,650.

    Other elements potentially benefiting its valuation include the further advancement of the layer-2 scaling solution Shibarium and the burn rate, which has exploded by almost 34,000% in the past 24 hours. 

    Last but not least, the resurgence could be linked to the recent announcement that the SHIB team is working toward launching a stablecoin called SHI. LUCIE (Shibarium’s Marketing Strategist) said the product will see the light of day once the infrastructure is “fully prepared, ensuring stability and utility within decentralized finance.”

    They also claimed that the stablecoin will provide price stability, increased adoption, enhanced utility, DeFi integration, community empowerment, and other merits.

    SPECIAL OFFER (Sponsored)

    Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).

    LIMITED OFFER 2024 at BYDFi Exchange: Up to $2,888 welcome reward, use this link to register and open a 100 USDT-M position for free!

    Dimitar Dzhondzhorov

    Source link

  • Ripple’s (XRP) Price Rally, Bitcoin’s Volatility Amid Trump Assassination Attempt, SHIB Price Outlook: Bits Recap Sep 16

    Ripple’s (XRP) Price Rally, Bitcoin’s Volatility Amid Trump Assassination Attempt, SHIB Price Outlook: Bits Recap Sep 16

    TL;DR

    • XRP gained 7.5% last week, boosted by Grayscale’s Ripple Trust launch and rumors of a Robinhood re-listing.
    • BTC dropped below $60,000 after briefly surpassing $60,500, affected by negative news in the broader market such as the supposed assassination attempt on Donald Trump.
    • SHIB increased by 2% over the week amid a high level of fear, uncertainty, and doubt (FUD) in the ecosystem.

    XRP’s Performance as of Late

    Ripple’s XRP was at the forefront of gains last week, following Grayscale’s decision to launch a dedicated Ripple Trust. The product, which allows users to have direct exposure to the asset without the need of purchasing, storing, or holding it, saw the light of day on September 12.

    XRP’s price charted a substantial green candle minutes after the announcement, rising to as high as $0.57. Its uptrend continued in the following days, reaching almost $0.60 on September 15. Another factor fueling the rally could be the increased rumors that Robinhood has re-listed XRP on its platform. The company’s website shows that Ripple’s native token is indeed among the supported cryptocurrencies. 

    Over the past several hours, XRP has lost some ground and currently trades at around $0.57 (per CoinGecko’s data). However, it remains in green territory on a weekly scale, up 7.5% for that period. Those willing to explore some interesting predictions from popular analysts can take a look at our article here.

    XRP Price
    XRP Price, Source: CoinGecko

    BTC Lost the $60K Level

    The primary cryptocurrency also witnessed a significant uptick in the past week, with its valuation jumping above $60,500 over the weekend. The rally was interrupted in the last several hours following the reports of an attempted assassination on Donald Trump.

    As CryptoPotato reported, the FBI has started an investigation into the incident where numerous gunshots were fired at the golf club at the time the presidential candidate was playing.

    The cryptocurrency sector reacted negatively to the news, and its global market capitalization is down 4% on a daily scale, currently set at approximately $2.12 trillion. BTC fell well below $60,000, hovering at $58,400 as of the moment of writing these lines.

    It will be interesting to see whether the asset’s downtrend will intensify in the following days or it will recover after the FOMC meeting (scheduled for September 18). Multiple industry participants expect the US Federal Reserve to lower the interest rates, thus making money-borrowing easier and potentially boosting investor interest in risk-on assets such as cryptocurrencies. 

    What About SHIB?

    The second-largest meme coin recorded a mild increase in the last seven days, with its value rising by 2%. Not long ago, the crypto analytics platform Santiment estimated there is a “tremendous” amount of FUD within the Shiba Inu ecosystem. 

    Fear, Uncertainty, and Doubt (FUD) describes the dissemination of negative or false information, rumors, or emotions that create panic among investors, potentially triggering selling pressure in the market. Such a rise is often viewed as a signal of impending significant price fluctuations.

     

    SPECIAL OFFER (Sponsored)

    Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).

    LIMITED OFFER 2024 at BYDFi Exchange: Up to $2,888 welcome reward, use this link to register and open a 100 USDT-M position for free!

    Dimitar Dzhondzhorov

    Source link

  • Meme Coin Revival as These Cat-Themed Tokens Lead the Rally: Details

    Meme Coin Revival as These Cat-Themed Tokens Lead the Rally: Details

    TL;DR

    • The meme coin market saw a strong recovery on September 10, with significant gains from tokens like DOGE, SHIB, POPCAT, and KOIN.
    • Neiro (NEIRO) jumped 450% weekly after being listed on Binance and other leading crypto exchanges.

    A Green Day at Last

    The meme coin sector suffered painful losses in the past several days, with its market capitalization briefly plunging below $40 billion at one point. However, the landscape looks completely different today (September 10), with numerous tokens charting substantial gains.

    The leading meme coin, Dogecoin (DOGE), hit a two-week high after surpassing $0.10, whereas its biggest rival, Shiba Inu (SHIB), saw its price rise by 2% daily.

    Those stealing the show are certain cat-themed memes like Popcat (POPCAT) and Kittekoin (KOIN). The former jumped by 15% in the last 24 hours, while the latter tapped a new all-time high of almost $0.25 after skyrocketing by over 80%. KOIN lost some of the gains in the following hours, currently trading at around $0.18 (per CoinGecko’s data).

    KOIN Price
    KOIN Price, Source: CoinGecko

    Other well-performing meme coins include BRETT (+6%), DOGS (+8.5%), PEOPLE (+16%), SUNDOG (+20%), and many more. 

    NEIRO Keeps Progressing

    The recently launched dog-themed meme coin Neiro on ETH (NEIRO) also found a spot among the biggest gainers. Its price surged by 15% in the last 24 hours, reaching $0.18 for the first time since mid-August. 

    NEIRO Price
    NEIRO Price, Source: CoinGecko

    Its resurgence happened shortly after an interaction with Binance. Specifically, the exchange launched a USDT-margined NEIRO/ETH perpetual contract with up to 75x leverage.

    This type of product enables users to bet on the price changes of the underlying digital assets without actually owning them. The contract offers high leverage, does not have a set end date, and requires traders to maintain a specific margin to keep their positions open.

    Earlier this week, Crypto.com and OKX hopped on the bandwagon, too. The former allowed deposits and withdrawals of NEIRO/ETH via ERC-20, while the latter added NEIRO/ETH on its perpetual futures market.

    The meme coin is up an impressive 450% on a weekly scale, with its 24-hour trading volume surpassing that of higher-ranked memes like BRETT, TURBO, MOG, and others.

    Crypto X is full of analysts envisioning a further rally for NEIRO. Johny – an X user with almost 700,000 followers – thinks the current price zone of $0.18 is the last resistance before a spike to a new ATH. For their part, MoneyLord believes NEIRO could repeat WIF’s success witnessed earlier this year:

    SPECIAL OFFER (Sponsored)

    Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).

    LIMITED OFFER 2024 at BYDFi Exchange: Up to $2,888 welcome reward, use this link to register and open a 100 USDT-M position for free!

    Dimitar Dzhondzhorov

    Source link

  • Centralization Threats Loom as Polygon and Shiba Inu Exhibit High Concentration Among Top Wallets

    Centralization Threats Loom as Polygon and Shiba Inu Exhibit High Concentration Among Top Wallets

    High centralization can lead to increased influence by a few entities, potentially undermining the decentralized ethos that crypto strives to uphold. However, centralization continues to be a major bone of contention in space.

    As such, popular project tokens – Polygon (MATIC) and Shiba Inu (SHIB) – have emerged as the leading examples of high concentration of holdings among top wallets.

    Centralization Concerns in MATIC and SHIB

    According to the data shared by Santiment, Polygon’s top ten wallets collectively control an astonishing 69.4% of its total market capitalization, making it the most centralized among major altcoins. Similarly, Shiba Inu’s top ten wallets hold 61.2% of its market cap.

    This significant concentration raises critical questions about the impact on market stability and governance for these widely traded assets. This concentration can also exacerbate risks such as price manipulation and volatility, as large holders have the power to affect market dynamics more substantially than smaller investors.

    Meanwhile, Uniswap (UNI) shows that 50.8% of its total market cap is held by the top ten wallets, indicating a significant concentration of power among a few holders. Closely trailing behind is the Pepe (PEPE) meme coin, with 46.1% of its supply concentrated in the top wallets.

    Ethereum (ETH), despite its broad adoption and decentralized governance efforts, still sees 44.0% of its market cap controlled by the largest wallets, primarily due to staking in the ETH 2.0 contract, which centralizes significant amounts of Ether.

    Tether (USDT), the most widely used stablecoin, has 33.1% of its supply in the hands of the top wallets, reflecting its widespread institutional adoption but also hinting at potential liquidity risks if these holders decide to move large amounts simultaneously.

    Moderate Centralization in LINK and TON

    Chainlink (LINK) and Toncoin (TON) show slightly lower concentrations, with 31.1% and 27.5% of their respective market caps held by the top ten wallets. For the former, this reflects the necessity of large holdings by nodes to secure the network, while Toncoin’s concentration is partly attributed to its recent growth phase, as per Santiment.

    On the other hand, stablecoins like Circle’s USDC and Multi Collateral Dai (DAI) exhibit more decentralized holdings, with the top ten wallets controlling only 19% and 24.5% of their market caps, respectively.

    SPECIAL OFFER (Sponsored)

    Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).

    LIMITED OFFER 2024 at BYDFi Exchange: Up to $2,888 welcome reward, use this link to register and open a 100 USDT-M position for free!

    Chayanika Deka

    Source link

  • Massive Shiba Inu (SHIB) Update: Details About Upcoming DAO

    Massive Shiba Inu (SHIB) Update: Details About Upcoming DAO

    TL;DR

    • Shiba Inu (SHIB) is moving toward greater decentralization by launching a DAO.
    • The anonymous developers of the meme coin announced they will step back by the end of 2024, handing full control over to the community to further empower decentralized governance.

    Shia Inu’s Next Step

    The popular meme coin – Shiba Inu (SHIB) – was launched four years ago as an experimental community-driven cryptocurrency. The project was inspired by the popularity of Dogecoin (DOGE) and aimed to build upon the concept of a decentralized token.

    LUCIE (Shibarium’s Marketing Strategist) recently revealed another step toward that goal. Specifically, the team is getting ready to launch a DAO (Decentralized Autonomous Organization).

    “This transition will empower every holder, regardless of the size of their stake, to have a say in the community’s direction,” the announcement reads.

    LUCIE added that the DAO is yet to be implemented and its introduction would give “Shibizens” further control over decisions that impact the ecosystem.

    The Marketing Strategist also revealed that the team will launch a designated governance structure anchored by two key councils: Charity Council and Culture & Heritage Council:

    “These councils will steer community initiatives, from charitable outreach to preserving the unique culture that defines Shib. With a focus on transparency and inclusivity, these efforts ensure that Shib’s growth remains true to the values that have driven it from the start.”

    More Control for the Community by the End of 2024

    Last week, two of the anonymous developers of Shiba Inu using the nicknames Shytoshi Kusama and Kaal Dhairya dislcosed that they will step back by the end of the year and hand full control over to the community.

    Kusama said this move aligns with their vision for true decentralization in the cryptocurrency space. The development is not about abandoning the project but rather “empowering the community even more than they already have.”

    While Shiba Inu is decentralized in terms of its governance and ecosystem, the actual level of decentralization can depend on how actively the community engages in development activities. If a significant portion of the SHIB Army (the collective term depicting SHIB investors, supporters, and traders) remains inactive, decision-making may become concentrated among a smaller, more engaged group of participants.

    Additionally, the developers said they will not reveal their identities, arguing that the power of the meme coin is based on its devoted community and not on just a few individuals. 

    “There’s no need for my face to become a public figure. Let the mask remain famous. The power of SHIB is not because of me or because of Kaal, it is because of the community. And that is what is most important: the technology to take Web 2 to Web 3 and the brand of a very special dog breed that has gone viral many times as a meme,” Kusama said.

    SPECIAL OFFER (Sponsored)

    Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).

    LIMITED OFFER 2024 at BYDFi Exchange: Up to $2,888 welcome reward, use this link to register and open a 100 USDT-M position for free!

    Dimitar Dzhondzhorov

    Source link

  • 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. 

    SPECIAL OFFER (Sponsored)

    Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).

    LIMITED OFFER 2024 at BYDFi Exchange: Up to $2,888 welcome reward, use this link to register and open a 100 USDT-M position for free!

    Dimitar Dzhondzhorov

    Source link

  • 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:

    SPECIAL OFFER (Sponsored)

    LIMITED OFFER 2024 for CryptoPotato readers at Bybit: Use this link to register and open a $500 BTC-USDT position on Bybit Exchange for free!

    Dimitar Dzhondzhorov

    Source link

  • 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.

    SPECIAL OFFER (Sponsored)

    Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

    Dimitar Dzhondzhorov

    Source link

  • 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.

    SPECIAL OFFER (Sponsored)

    Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

    Dimitar Dzhondzhorov

    Source link

  • 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:

    SPECIAL OFFER (Sponsored)

    Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

    Dimitar Dzhondzhorov

    Source link

  • The Reasons Behind the Shiba Inu (SHIB) 25% Surge?

    The Reasons Behind the Shiba Inu (SHIB) 25% Surge?

    TL;DR

    • Shiba Inu (SHIB) saw a notable price increase and a surge in market capitalization, coinciding with a general upturn in the cryptocurrency industry.
    • The rally might have been further boosted by the introduction of a new privacy-enhancing tool by the SHIB development team, signaling potential for future growth in the ecosystem.

    Shiba Inu (SHIB) Price Explosion

    The popular meme coin – Shiba Inu – has been among the best-performing cryptocurrencies in the past 24 hours, witnessing a price increase of over 25%. Moreover, its market capitalization surpassed the $8.5 billion mark for the first time in a year.

    SHIB Price
    SHIB Price, Source: CoinGecko

    Its remarkable rally comes at a time when Bitcoin (BTC) trades well above the $60K mark, while Ethereum (ETH), Solana (SOL), and many more altcoins have peaked at multi-year highs. 

    The global cryptocurrency market capitalization inches towards the $2.5 trillion level, with some industry participants expecting this to be just the beginning of a massive bull run that could last in the near future. 

    Another element that might have positively impacted SHIB’s performance as of late is the frenzy in the meme coin niche. Dogecoin (DOGE) witnessed a 30% price jump on a daily scale, Bonk Inu (BONK) skyrocketed by 40%, while dogwifhat (WIF) hit a new all-time high.

    According to IntoTheBlock, over 56% of Shiba Inu holders currently sit on paper profits. The trends were much different in September last year, when approximately 90% of SHIB investors were underwater.

    One Additional Factor

    It is worth noting that Shiba Inu’s price ascent came shortly after the development team behind the meme coin introduced a new tool for enhancing user privacy. As CryptoPotato reported, the innovation, known as “Fully Homomorphic Encryption (FHE), enables “complete on-chain data protection” to members of the SHIB community.

    Shytoshi Kusama, the pseudonymous developer leading meme coin, said that the tool is a “seminal milestone in delivering their promise to turn the SHIB community into a “nation-state” of “Shibizens.”

    Dr. Rand Hindi, an entrepreneur and CEO of Zama, chipped in, too, arguing that FHE will “catalyze the growth” of the Shiba Inu ecosystem and allow “a wide range of new use cases” on the platform. 

    SPECIAL OFFER (Sponsored)

    Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

    Dimitar Dzhondzhorov

    Source link