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Data shows social media users have been showing a negative sentiment towards XRP, Dogecoin, and Shiba Inu after their plunges in the past day. FUD Has Engulfed Traders Towards These Altcoins After The Latest Crash According to data from the analytics firm Santiment, the sentiment around XRP (XRP), Dogecoin (DOGE), and Shiba Inu (SHIB) has seen a significant drop recently.
The rate at which Shiba Inu ($SHIB) tokens are being burned has jumped 12,000% to 11.9 million tokens at a time in which the price of the meme-inspired cryptocurrency has been dropping amid a wider cryptocurrency market downturn.
As of 18 June 2024, the cryptocurrency market remains volatile, with Shiba Inu (SHIB) and Pepe (PEPE) capturing significant attention from investors.
The significant adoption of the Shiba Inu (SHIB) ecosystem in the recent past has been fueled by the notable Shibarium growth.
The mysterious leader of the SHIB developer team known by the pseudonym Shytoshi Kusama has reached a major milestone on social media giant X.
Shiba Inu was on the verge of losing an important support level that held it before the catastrophe at the $0.00002 price level. However, it did not hold the selling pressure, opening up a way toward $0.00001 for Shiba Inu.
Shiba Inu Coin (SHIB) has achieved another milestone in its quest for mainstream adoption, as highlighted by the popular SHIB community member Ragnar Shib. Notably, Crypto.com has announced that SHIB can now be used to fund its popular Visa card, joining other prominent cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH).
Meme coins are on the receiving end of a large-scale altcoin sell-off on Tuesday morning, suffering double-digit losses across the board. Cryptocurrency Price Gains +/- Dogecoin (CRYPTO: DOGE) $0.1198 -10.7% Shiba Inu (CRYPTO: SHIB) $0.00001775 -11.1% Pepe (CRYPTO: PEPE) $0.00001043 -10.1% Dogwifhat (CRYPTO: WIF) $2.02 -15.8% Floki (CRYPTO: FLOKI) $0.0001625 -13% Dogecoin saw $60 million worth of positions liquidated, as prices dropped more than 10%, while Shiba Inu's larger transactions spiked.
It was revealed in a recent report by Santiment that XRP, Dogecoin (DOGE) and Shiba Inu (SHIB) have experienced their most negative crowd sentiment of the year. This drop follows notable price declines for these popular altcoins.
It's been a bumpy bout of volatility for cryptocurrencies. DOGE, SHIB, ADA, SOL, and other alternative cryptocurrencies nursed losses Tuesday amid continuing profit-taking and another day of net outflows from U.S. spot Bitcoin exchange-traded funds (ETFs), adding to the bearish sentiment.
Check out what could have caused the most recent SHIB burn rate increase.
In the last 24 hours, Shiba Inu (SHIB) has seen a remarkable increase in large transactions, a metric often indicative of whale activity. According to data from blockchain analytics platform, IntoTheBlock, the volume of large transactions - which refers to those above $100,000 - has soared by 295%.
Shiba Inu (SHIB) has seen a 56.78% drop in whale activity, reflecting broader market volatility and investor caution amid unclear price direction.
Shiba Inu (SHIB) sees a dramatic increase in its burn rate despite a significant price drop. What are analysts' opinions on the matter, and what will be the future for SHIB and other meme coins?
Popular within the SHIB community tracking platform Shibburn has reported a massive surge in the SHIB burn rate noticed within the period of the last 24 hours. This metric now shows a five-digit reading with more than ten million meme coins destroyed over that period.
The meme coin sector is getting absolutely clobbered with double-digit losses, according to data provided by CoinGecko.
The Shiba Inu (SHIB) meme coin has been grappling with a massive price crash lately, plunging over 10%. However, the doge-themed crypto has recently garnered significant attention due to a substantial increase in its token burn rate.
After a strong hue around the possible altseason and the expectations of a mega rally coming in the altcoin market, the FOMO has finally cooled down for the better. Over the last week, we have seen the altcoins correcting anywhere between 10-20% barring a few like Ethereum.
Shiba Inu competitor FLOKI has been one of the best performers this year and continues to maintain a high level in the market. Its price has more than doubled in 2024, prompting an influx of new investments into the meme coin.
The cryptocurrency market had a rough start to the week, with popular large-cap currencies registering marked declines. What Happened: Memecoins Dogecoin and Shiba Inu, and payment-focused coin XRP traded in the red on Monday, as indicated below.
Shiba Inus burn rate has plummeted by over 62% as the SHIB price falls below the critical $0.00002 level, raising concerns among investors. Shiba Inu Burn Rate Plummets Amid Price Decline Below $0.00002 A significant price decline has resulted in a decrease in one of the most critical Shiba Inu metrics, per U.Today.
For Cardano, the chart presents a dismal image. ADA has consistently trended lower after failing to sustain its support levels, breaching multiple significant support zones in the process.
Key Shibarium metrics suggest the Shiba Inu ecosystem might be gearing up for a push to the upside. Notably, Shibarium's transaction data has seen triple-digit percentage jumps in transactions and fees paid in BONE over the past week.
‘Dogecoin Killer' Shiba Inu (CRYPTO: SHIB) saw its burn rate and new accounts spike, as the community revealed positive news. What Happened: Shibburn data shows the burn rate skyrocketing 84,642.4% in the past 24 hours.
