Shiba Inu Price Could Jump 200% To $0.00006 In October, Heres 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 altcoins price is expected to more than double. Using historical [...]

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Shiba Inu Rallies 34%, But Will FOMO End The Rally?

Data shows metrics related to Shiba Inu have seen rapid growth alongside the meme coin’s 34% surge, a potential sign that FOMO is developing among investors. Shiba Inu Has Seen An Uptick In Activity With Its Latest Rally In a new post on X, the analytics firm Santiment has discussed how the various indicators related [...]

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Is Shiba Inu Ready For A New All-Time High Above $0.00008? Analyst Says Yes

Doggy-themed meme coin, Shiba Inu (SHIB), could be gearing up for a major rally to new all-time highs this bull cycle. Given the cryptocurrencys recent bullish performance, analysts predict that Shiba Inu can surge above its all-time high of $0.000086.  Shiba Inu Targets New All-Time Highs The price of Shiba Inu recently jumped from around [...]

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Shiba Inu Breakout Eyes $0.00002631 Level After Rallying Over 19%

Shiba Inu is experiencing a notable price breakout, surging over 19% and positioning itself toward the critical resistance level of $0.00002631. This significant rally indicates a shift in market momentum, characterized by robust buying pressure and increased trading volume. Technical indicators suggest that SHIB is establishing a bullish trend, with key support levels solidifying its [...]

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

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 Inus price chart. The chart highlighted three wave patterns and several Fibonacci retracement levels which acted as resistance and support zones for Shiba Inus price. Related Reading: Analyst Predicts 8,500% Rally For Cardano To Reach $31 As Indicators Turn Bullish In classic wave 1 and 2, Shiba Inus 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: Diamond Hand Ethereum Whale Moves 15,000 ETH, Heres The Destination SHIB Price Analysis Supporting the optimism surrounding Shiba Inus 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.  Featured image created with Dall.E, chart from Tradingview.com

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Shiba Inu Jumps Nearly 6% In Latest Price Rebound, Rally Incoming?

Shiba Inu has caught the market’s attention once again with a nearly 6% price rebound, signaling renewed bullish momentum for the popular meme coin. After a period of consolidation, this jump has raised speculation that the bulls might be returning to drive the price higher. Could this price surge mark the beginning of a major rally, or is it just a temporary spike? All eyes are on the next move. This analysis aims to explore the recent 6% price rebound of Shiba Inu and assess whether this upward movement signals the start of a larger rally. By examining key technical indicators and market trends, we determine if the current momentum can sustain further gains and levels to watch for potential breakouts or pullbacks. Indicators And Trends: Are Bulls Gaining Strength? Recently, SHIBs price has turned bullish on the 4-hour chart, rebounding from the $0.00001272 support level. The cryptocurrency is trading above the 100-day Simple Moving Average (SMA) and is demonstrating strong momentum, with a current focus on moving toward the $0.00002045 level. An analysis of the 4-hour Relative Strength Index (RSI) reveals that bulls have been firmly established in the market. The RSI’s signal line has surged past the 50% threshold to around 69%, reflecting increasing positive movement for the cryptocurrency. This upward trend suggests that buying interest is intensifying, and momentum could continue to build, potentially leading to further price gains. Related Reading: Shiba Inu Seen Exploding 1,000%-7,300%: Bold Predictions Signal Massive Growth Meanwhile, on the daily chart, Shiba Inu is still showing upbeat momentum, marked by the formation of bullish candlesticks. This indicates a favorable shift in price action as the cryptocurrency moves towards the 100-day SMA and the $0.00002045 level, with the bullish candlestick patterns suggesting a growing upward strength. Furthermore, if this momentum continues, SHIB could see further advances as it approaches this key resistance level. Finally, on the 1-day chart, a careful examination of the formation of the 1-day RSI reveals that SHIB could sustain its optimistic trend as the indicator’s signal line has risen above 50% and is currently attempting to move towards the 60% threshold. What Could Next Moves Look Like For Shiba Inu As Shiba Inu continues its upward trajectory, several scenarios could unfold. If the cryptocurrency maintains its bullish momentum and breaks through the $0.00002045 resistance level, it could signal the start of a significant rally, potentially pushing toward the next resistance level at $0.00002631. Related Reading: Get Ready For Take-Off! Shiba Inu Price To Jump 7,350% Analyst Conversely, should SHIB encounter strong resistance or a pullback, the price might consolidate or move to test $0.00001272 support level. When the price breaks through this range with strong volume, it could indicate a continuation of the downward trend and possibly target the support level at $0.00000847. SHIB was trading at approximately $0.00001415, reflecting a 6.97% gain over the past 24 hours. Its cryptocurrencys market capitalization reached around $8.3 billion, with trading volume surpassing $230 million, representing an increase of 6.73% and 72%, respectively. Featured image from iStock, chart from Tradingview.com

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Why Is The Shiba Inu Price Crashing Today?

With the Bitcoin price crash over the weekend, the prices of other cryptocurrencies such as Shiba Inu have followed sharply. The result of this has been a double-digit price crash for Shiba Inu, alongside other altcoins. Naturally, the rapid decline has raised questions, with industry stakeholders wondering what is driving this massive crash. Shiba Inu [...]

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Shiba Inu Breaks Above Trendline: Can The Bulls Drive SHIB To $0.00002045?

Shiba Inu (SHIB) has recently surged past a key bullish trendline, sparking fresh optimism among traders and investors. This breakout marks a significant shift in momentum that could pave the way for a potential rally toward the $0.00002045 level. As the market eyes this potential rally, all attention turns to whether SHIB can sustain its upward trajectory and reach this ambitious target, or will the bears step in to stall the run? This article provides an in-depth technical analysis of Shiba Inu’s recent breakout above the trendline, evaluating whether this could trigger a rally toward the $0.00002045 target. Additionally, it will explore potential price reactions once SHIB approaches this critical level. In the last 24 hours, Shiba Inu has gained over a 6% increase, reaching approximately $0.00001519. The crypto assets market capitalization has surpassed $8.9 billion, with trading volume exceeding $311 million. Over this period, the market cap has increased by 6.59%, while trading volume has surged by 85.23%. Trendline Breakout: A Bullish Signal For Shiba Inu? Following the breakout above the trendline, SHIB’s price has maintained its bullish momentum, consistently trading above the 100-day Simple Moving Average (SMA) on the 4-hour chart. This sustained positive sentiment reflects strong upward momentum, signaling that the bulls are firmly in control and could push the price toward the next significant resistance level at $0.00002045. Also, the Relative Strength Index (RSI) indicator is currently at 73% showing that Shiba Inu is in an overbought territory. A sustained overbought condition signals strong buying pressure suggesting that bullish momentum remains robust in the market. On the daily chart, although SHIB is experiencing a short-term pullback, it is attempting to move toward the 100-day SMA following a successful breakout above the bearish trendline. The appearance of a bullish momentum candlestick on the previous day indicates a strong bullish sentiment, which could drive the cryptocurrency towards further gains. Finally, the 1-day RSI indicates that SHIB’s bullish momentum is strengthening, with the signal line moving toward the overbought region after recently crossing above 50%. The upward movement in the RSI suggests intensifying buying pressure and growing bullish sentiment for the asset. Potential Market Reactions: What Happens If SHIB Hits $0.00002045? Potential price reactions when Shiba Inu reaches $0.00002045 include a breakout above this level or a potential rebound. If Shiba Inu breaks above the $0.00002045 level, it could signal the beginning of a sustained bullish rally toward the $0.00002631 resistance level. A successful break above this level could propel the asset toward the next resistance at $0.00002960, with the potential for even higher gains. However, if the cryptocurrency encounters a rebound at the $0.00002045 resistance level, the price may retrace to its previous low of $0.00001272. When SHIB breaks below this support, it could indicate an additional downside momentum, potentially driving the asset toward the $0.00000847 mark and possibly lower levels. Featured image from Unsplash, chart from Tradingview.com

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The Shiba Inu Shibarium Suffers 97.6% Crash In Active Accounts, Whats Going On?

Shiba Inus Shibarium recently suffered a major setback following a massive crash in active accounts on the layer-2 network. This development undoubtedly presents a bearish outlook for Shiba Inu, considering Shibariums impact on the meme coins price.  The Shiba Inu Shibarium Records 97.6% Crash In Daily Active Accounts Data from Shibariumscan shows that the layer-2 [...]

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Heres Whats Going On With The Shiba Inu Price

The Shiba Inu (SHIB) price has remained lackluster for a while now, with the second-largest meme coin by market cap still below the crucial price level at $0.00002. This unimpressive price action is thanks to several factors, including Bitcoins tepid price movement.  Why The Shiba Inu Price Is Down Shiba Inus price has been on [...]

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Shiba Inu Secures Community Support To Rally To $1, Heres How

The possibility of Shiba Inu rising to $1 is one crypto community members look to support. This follows a recent poll by the crypto exchange CoinW, which showed that others besides the SHIB community believe such a price target may be attainable.  Shiba Inu Rising To $1 Gains Community Support In an X (formerly Twitter) [...]

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Prepare For Impact: Shiba Inu Whales Increase Their Holdings By 600% In A Single Day

Reports have revealed that Shiba Inu (SHIB) whales have dramatically increased their holdings by a whopping 600%. This massive SHIB accumulation signals investors growing confidence in the popular meme-based cryptocurrency. SHIB Whales Increase Holdings By Almost 600% In just a single day, Shiba Inu whales increased their holdings by approximately 596%. According to IntoTheBlocks data, on August 12, the total net flow of large scale SHIB holders had surged from 27.06 billion SHIB to 161.15 billion SHIB.  Related Reading: Private Investors Kicked Out Of Top Bitcoin Holder List, Here Are The Stats While the reason for this aggressive token accumulation remains uncertain, the slight stabilization of Shiba Inus price fundamentals may have contributed to the positive shift in investors sentiment.  Earlier in January 2024, large scale holder net flow had surged as high as 4.51 trillion. However as the months went by, whales have been offloading significant amounts of SHIB tokens as the market showed signs of bearishness.  This renewed influx of whale activity is particularly noteworthy as Shiba Inu aims to recover from previous price declines. Additionally, the increase in whale holdings comes after Shiba Inu lead developer, Shytoshi Kusama announced the imminent release of a potentially bullish project in the Shiba Inu ecosystem.  Highlighting Kusamas announcement, crypto analyst, Oscar Ramos has expressed optimism about Shiba Inus future price outlook. In an X (formerly Twitter) post Ramos revealed that he believes that Shiba Inu is heading towards the biggest coin breakout it has ever seen.  He highlights the ongoing developments and upcoming projects set to launch within the ecosystem as bullish catalysts for Shiba Inus price increase. Additionally, Ramos described Shiba Inu as a blue chip cryptocurrency which has been showing immense productivity and growth recently.   At the time of writing, the price of Shiba Inu is trading at $0.0000136, marking a 1.47% decrease in the last 24 hours after gaining 2.20% over the past week, according to CoinMarketCap.  Shiba Inu Whale Drains $2.2 Million Worth Of SHIB On-chain analytics platform, Arkham Intelligence has uncovered a massive SHIB transaction executed by an anonymous whale. According to Arkhams reports, an unknown Shiba Inu whale withdrew a whopping 165.37 billion SHIB tokens from Coinbase, the largest crypto exchange in the United States (US).  Related Reading: Crypto Analyst Reveals What Could Drive The Bitcoin Price To $48,000 Arkham Intelligence has disclosed that in the last six days, the anonymous whale executed three large scale transactions which amounted to the 165.37 billion SHIB. The total value of the SHIB withdrawal was estimated at around $2.25 million. In the first transaction, 32.537 billion SHIB, valued at $466,250 was withdrawn from Coinbase. The second transaction saw a withdrawal of 35.80 billion SHIB, worth over $480,530. The final and largest transaction involved the withdrawal of 97.027 billion SHIB, valued at over $1.33 million withdrawn.  Featured image created with Dall.E, chart from Tradingview.com

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Shiba Inu Sees Sharp 100% Decline In Whale Activity, Is This Good Or Bad For Price?

On-chain data shows that Shiba Inu (SHIB) has witnessed a massive decline in whale activity. This is significant for the meme coins ecosystem, considering the impact these investors usually have on Shiba Inus price.  Shiba Inus Whale Activity Declines By Over 100% Data from the market intelligence platform IntoTheBlock shows that Shiba Inus whale activity has declined by over 100% in the last seven days. This is based on the large holders’ netflow metric, which indicates when these whales are adding to their positions or offloading their tokens.  Related Reading: Bitcoin Closes CME Gap, Expert Predicts What Happens Next The 100% decline in large holders netflow points to these whales opting against accumulating and selling their Shiba Inu tokens instead. The large holders’ outflow metric also points to these whales offloading their tokens, as there has been an 18% increase in the amount of Shiba Inu tokens leaving these whales addresses in the last seven days.  Meanwhile, in the same period, there has been an almost 23% drop in the large holder inflows, which suggests that more whales are opting against adding their Shiba Inu positions. This is evidently bad for the Shiba Inu ecosystem as significant selling pressure from these whales could further make the meme coins price tumble.  Other on-chain metrics also paint a bearish outlook for the meme coin. For instance, data from IntoTheBlock shows that the In The Money metric is bearish, as 52.46% of Shiba Inu addresses are currently at a loss. This could pile more selling pressure on the meme coin as more investors look to cut their loss, fearing that Shiba Inu could further decline from its current price level.  Shiba Inu also risks losing most of the gains it made earlier this year if it fails to hold above its current support level. The In the Money metric shows that most addresses currently invested in Shiba Inu bought the meme coin at its current price range. As such, a decline below this range could send the crypto token on a free fall to levels not seen in a while.  Bitcoin Making Matters Worse For Shiba Inu Data from IntoTheBlock shows that Shiba Inu has a strong positive price correlation with Bitcoin. This has also significantly contributed to the downtrend that the meme coin is currently facing. SHIB’s price correlation with Bitcoin seems to be why the second-largest meme coin by market cap has been one of the most affected since the flagship crypto dropped below its crucial support level at $60,000.  Related Reading: XRP Stars Align: Indicators Point To Possible 7,500% Rally To $35 Shiba Inus price correlation with Bitcoin suggests that things could get worse for the meme coin. The flagship crypto is still facing intense selling pressure and is at risk of further price declines in the coming days.  SHIB is currently trading at around $0.00001327, down over 14% in the last 24 hours, according to data from CoinMarketCap. Featured image created with Dall.E, chart from Tradingview.com

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Shiba Inus NVT Ratio Sees Drastic Increase, Is A Rise To $0.00003 Still Possible?

The Shiba Inu (SHIB) network value to transactions (NVT) ratio has come into focus, with the meme coin currently enjoying an uptrend. However, this metric suggests that Shiba Inu could soon hit a roadblock on its journey to $0.00003.  Shiba Inu NVT Ratio Is On The Rise Data from the on-chain market intelligence platform Glassnode shows that Shiba Inus NVT has witnessed a massive increase and is currently way ahead of the meme coins price. This is significant as it presents a bearish outlook for Shiba Inu and hints at a potential price correction for the meme coin.  Related Reading: This Bitcoin Mining Giant Just Spent $100 Million To Buy BTC The NVT ratio isnt the only metric that Shiba Inu investors should be concerned about. Data from the market intelligence platform IntoTheBlock shows that Shiba Inus correlation with Bitcoin has drastically reduced since the flagship crypto began to enjoy an impressive rebound.  Before now, Shiba Inus correlation with Bitcoin was over 0.9, which indicated a strong positive price correlation. However, that figure has now dropped to 0.52, indicating a lesser correlation between both prices. Additionally, only about 51% of Shiba Inu holders are currently in the money, which means the meme coin is at risk of significant sell-offs as the remaining 49% that arent in the money look to break even once the meme coin records higher prices.  However, some other on-chain metrics paint a bullish picture for Shiba Inu, which could help avert such price correction and help sustain the meme coins current uptrend. One is the notable increase in Shiba Inus large transactions, suggesting that crypto whales might be accumulating the meme coin in anticipation of higher prices.  Data from IntoTheBlock shows an increase of over 2% in these large transactions over the last seven days. Further data shows that 365.69 billion SHIB have been traded in the last 24 hours. Meanwhile, these large transactions recorded a seven-day high on July 22, when these investors traded 2.14 trillion SHIB.  A Rise To $0.00003 Is Still Possible Crypto analyst Javon Marks recently provided a bullish narrative for Shiba Inu, predicting that the meme coin could rise above $0.00003 soon enough. He stated that SHIB has confirmed a macro Hidden Bullish Divergence with its Relative Strength Index (RSI), which indicates that a full recovery and continuation of its bull rally may be on the horizon.  Related Reading: Technical Indicators Show Strong Bitcoin Bullishness New ATH On The Horizon? He added that this confirmation sets Shiba Inu for a price recovery of over 162%, sending its price to the $0.0000456 range. Interestingly, Marks also claimed that Shiba Inu might rally further as it could break out of a larger resisting structure, putting a price target of $0.000081 in sight.  At the time of writing, Shiba Inu is trading at around $0.00001718, up over 2% in the last 24 hours, according to data from CoinMarketCap.  Featured image created with Dall.E, chart from Tradingview.com

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Machine Learning Algorithm Predicts Shiba Inu Price Will Rise 119% In 5 Days

With the vast popularity of Shiba Inu in the crypto space and millions of investors holding the SHIB token, the direction of the price has always been an interesting and hotly debated topic. Expectations are that the meme coin will continue to rise drastically as theme coins become some of the frontrunners of the crypto [...]

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End Of The Road? Shiba Inus Shibarium Sees Massive 80.3% Crash In Active Accounts

The Shibarium network, an Ethereum Layer 2 network that was developed and launched by the Shiba Inu team, did well following its initial launch in August 2023. However, less than one year following its launch, the Layer 2 network has run into some hard times, losing market share to larger counterparts. This has led to a decline in activity for the network as a whole, and so far this week, the Shibarium network has seen a major decline in active accounts. Shibarium Active Accounts Drop 80.3% In 4 Days The Shibarium network is currently struggling with adoption of the blockchain as its parent Layer 1 blockchain, Ethereum, is fighting against the likes of Solana to keep its users. Furthermore, Ethereum Layer 2 networks such as Base by Coinbase have also drawn out a reasonable number of decentralized finance (DeFi) users, putting it ahead of Shibarium. Related Reading: Golden Cross Appears On XRP Price Chart, Factors That Could Drive A Fresh Rally As a result of this, the Shibarium network has been unable to keep users, leading to a decline in active addresses. According to data from ShibariumScan, active accounts at the start of the week, on Sunday, July 21, were sitting at a mere 667. As the week has drawn on, this already small figure has crashed further down. On Wednesday, July 24, the total active accounts recorded on the Shibarium network was only 131. This means that between Sunday and Wednesday, the total active accounts on the Ethereum Layer 2 network had plummeted by 80.3%. In the same vein, there has also been a notable decline in new transactions. This metric saw a total of 6,353 transactions on Sunday. However, by Wednesday, the figures had declined to 1,023, representing an approximately 84% decline. Likewise, the number of new blocks mined dropped 66.6% from 17,220 on Tuesday to 5,739 on Wednesday. These all show that interest in the Shibarium network is completely down with number of new accounts created was only 11 on Tuesday, July 23. Playing With The Big Dogs While the popularity and success of Shiba Inu over the years played into the anticipation for the Shibarium network, it has failed to live up to the app. When it comes to Ethereum Layer 2 networks that were launched between 2023 and 2024, the Shibarium network doesnt hold up a candle to these other players. Currently, the Total Value Locked (TVL) on the Shibarium network is only $1.5 million, according to data from DeFiLlama. In contrast, Coinbases Base network was launched in the same month of August 2023 as Shibarium currently boasts $2.175 billion in TVL. Related Reading: Analyst Says Solana Price Will Surge 1,000% To $1,800, Heres When The Linea network was launched a few months before Shibarium in March 2023, and the Layer 2 network currently has a TVL of $1.198 billion. Likewise, the BLAST network, which was launched much later in February 2024, has $1.47 billion in TVL. What this suggests is that the Shibarium network may have failed, given its incredibly low usage. However, there is always the question of if the Layer 2 network will be able to rise from the ashes and become a top DeFi contender once again. Featured image created with Dall.E, chart from Tradingview.com

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Heres Why The Bitcoin Price Crashed Below $66,000, Taking Shiba Inu And Dogecoin With It

On Sunday, the Bitcoin price saw a sudden crash that sent the likes of Dogecoin and Shiba Inu spiraling alongside it. This crash saw $2,000 wiped off the Bitcoin price in mere minutes, bringing it back down below $66,000. While this decline did not last at the time, there were a few factors behind it, which inflicted worry in crypto investors across the space. Why Did The Bitcoin Price Fall? The Bitcoin price crash below $66,000 had one major factor behind it and that was the US President Joe Biden. For months now, the war between President Joe Biden and former US President Donald Trump had raged on, with the two being the leading candidates for the position. Related Reading: CBOE Global Markets Lists Spot Ethereum ETFs, Confirms Launch Date However, on Sunday, President Joe Biden made a shocking revelation, announcing that he was officially stepping down from the presidential race. In the announcement on X (formerly Twitter), which has so far garnered over 330 million views, Biden said that he was going to prioritize his duties as a president for the remainder of his current 4-year term, rejecting the Democratic Party nomination. In the same announcement, President Biden offered his support to Vice President Kamala Harris, to take on the presidential ticket for the Democratic Party. He also urged the party supporters to come together and beat Donald Trump, who is the strongest opponent so far. pic.twitter.com/RMIRvlSOYw Joe Biden (@JoeBiden) July 21, 2024 Following the announcement, the crypto market responded quickly, with the Bitcoin price plunging sharply. At the same time, coins like Dogecoin and Shiba Inu followed suit, dropping around 3% each in response to the announcement. Dogecoin, Shiba Inu Refuse To Stay Down Just like the plunge in price, the Bitcoin recovery was just as swift, rising to new monthly highs. The price eventually crossed $68,000 on Sunday, taking the crypto market with it. In response, Dogecoin and Shiba Inu followed, notching notable gains from their lows. For Dogecoin, the price rose back above $0.14 after falling below $0.128. This saw its overall daily gains at the time shoot up above 4%, with its daily trading volume also seeing a significant climb above $20 billion in one day. Related Reading: Solana Leads Crypto Rally As Expectations For A Break Above $200 Grow In the same vein, the Shiba Inu price also rose from its lows of $0.0000173 to rise above $0.0000184. However, unlike Dogecoin, the Shiba Inu daily trading volume remains muted, with around $383 million at the time. As for the Bitcoin price, it continues to lead market bullishness, still holding the $67,000 support following the recovery. This translates to an approximately 12% increase in the cryptos price in the last seven days. Featured image created with Dall.E, chart from Tradingview.com

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Shiba Inu Starts July On A High Note: Burn Rate Surges 16,854%, Trading Volume Rises 170%

Shiba Inu (SHIB) has begun July on a positive note, with several on-chain metrics painting a bullish signal for the second-largest meme coin by market cap. These bullish developments could provide the much-needed turnaround for the meme coin, which had a June to forget.  SHIBs Burn Rate Surges By 16,854% Data from the burn tracking website Shibburn shows that Shiba Inus burn rate spiked by over 16,854% in the last 24 hours, with over 300 million Shiba Inu tokens burned during this period. This is massive for the meme coin, given the positive impact the token burns have on its price. These token burns help decrease SHIB’s circulating supply, which ultimately drives up its price, especially if the demand for the meme coin is on the rise.  Related Reading: Crypto Analyst Predicts 45% Drop For Bitcoin, But Says It Wont Go Below This Level Interestingly, on-chain data shows that the demand for Shiba Inu is rising, with investors regaining their bullish sentiment towards the meme coin and looking to add to their positions. This is based on data from the Market Intelligence platform IntoTheBlock, which shows that the concentration metric has turned bullish, meaning that Shiba Inu whales and investors are adding to their positions.  The demand for Shiba Inu is also evident in its spot and derivatives trading volume, which have spiked since the beginning of this month. Data from CoinMarketCap shows that over $191 million in SHIB was traded in the last 24 hours. Additionally, data from Coinglass shows that SHIB’S derivatives trading volume has surged by 170% in the last 24 hours.  The increased demand for Shiba Inu is also significant, considering how much the meme coin declined in June due to the Shiba Inu whales who offloaded a considerable amount of their holdings. The meme coin also took a severe hit in June because of its strong positive price correlation with Bitcoin.  However, Shiba Inu is expected to enjoy a price recovery as the flagship crypto is rebounding nicely. History also suggests that this month will be bullish for the meme coin, with data from Cryptorank showing that SHIB has ended the last two Julys in the green.  Shiba Inu Bullish Fundamentals Coinbase Derivatives is already finalizing plans to list the first-ever US-regulated Shiba Inu futures contract. The crypto exchange revealed in its filing to the Commodity Trading Futures Commission (CFTC) that it plans to list SHIB’s future contacts on or after July 15. This move is bullish as it could help expand the meme coins adoption, especially among institutional investors. Related Reading: Analysts Says Cardano Has Bottomed And Will Rally To $0.8, But It Must Hold This Level Furthermore, listing a regulated futures market for SHIB could also set the stage for the launch of a Shiba Inu Spot ETF. Bloomberg analysts James Seyffart and Eric Balchunas have hinted at different times that the Securities and Exchange Commission (SEC) is unlikely to approve a Spot crypto ETF without a regulated futures market.  Featured image created with Dall.E, chart from Tradingview.com

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Can Burns Send The Shiba Inu And LUNC Price To $0.01? Expert Chimes In

The Shiba Inu (SHIB) and Terra Classic (LUNC) ecosystems have become known for their regular token burns, which aim to increase the value of these coins. A computer engineer has given his opinion on this burn mechanism, revealing between Shiba Inu and LUNC, which will likely reach their desired goal of $0.01.  Will Shiba Inu [...]

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Shiba Inu (SHIB) Tipped For Explosive 1,440% Rally To $0.0003 By 2024-2025

The dog-themed meme coin Shiba Inu (SHIB) has seen a notable price recovery over the past 24 hours amid the broader market rally. After hitting a five-month low of $0.00001274 on July 5, the coin has gained 8% in the past 24 hours and is up a steady 20% over the past week.  However, a [...]

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