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The cryptocurrency market is seeing mixed signals as Ethereum (ETH) struggles to maintain its upward momentum, while Dogecoin (DOGE) and Shiba Inu (SHIB) experience notable price fluctuations. After a recent spike, the market is now calming down, leaving investors to wonder what lies ahead.
Cat-themed cryptocurrencies Popcat (CRYPTO: POPCAT) and cat in a dogs world (CRYPTO: MEW) have emerged as top gainers in the overall crypto market. What Happened: According to Coingecko, cat coins are nearing a $5 billion market cap, with a 7.7% gain in the last 24 hours.
As investors grapple with the cryptocurrency market's next moves amid recent turbulence driven by geopolitical and economic concerns, attention is shifting away from established top-cap coins like Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and Cardano (ADA) toward the burgeoning appeal of meme coins.
Check out why XRP, SHIB, and other leading cryptocurrencies could head north soon.
The WoofSwap team, operating the decentralized exchange (DEX) on the Shibarium network, has unveiled a novel Shiba Inu token-burning mechanism through the introduction of a new token named FEED. TThe announcement was made via X, where WoofSwap detailed the intended impact of FEED.
Fiery competition between the blue-chip meme coins sends the meme section up 21%, defying broader market momentum.
The popular meme-inspired Shiba Inu (SHIB) cryptocurrency continues to make headlines, this time with a staggering more than fivefold increase in a key on-chain metric.
According to the market intelligence platform IntoTheBlock, Bitcoin (BTC), Dogecoin (DOGE), Shiba Inu (SHIB), and Ethereum (ETH) have emerged as the coins with the longest holding period. This is significant because it indicates that crypto investors have the most faith in these coins.
Per IntoTheBlock data, Dogecoin and Shiba Inu are among the longest HODLed coins in the market.
Shiba Inu (SHIB) has many battles to fight to keep up its promising outlook. Shiba Inu whales have stepped up in the ongoing fight against sell-offs from some HODLers.
Concern is being raised by Shiba Inu after a crucial on-chain metric provides an unexpected glimpse into the condition of its holders. Data shows that only 2% of SHIB holders are classified as short-term investors, which indicates that very little of SHIB's supply is being purchased and sold quickly.
According to data from Arkham Intelligence, an unknown whale took practically 12.7 billion Shiba Inu (SHIB) tokens from the largest crypto exchange in the United States, Coinbase, late yesterday. This amount of the popular meme-inspired cryptocurrency is equivalent to just over one-fifth of a million dollars and represents nothing out of the ordinary.
The second biggest meme coin, Shiba Inu, has been depending on the SHIB burn mechanism in hopes of increasing its scarcity and providing more stability in the price. Even since the introduction of token burning, Trillion of tokens have been reduced from the total supply, but there is no significant difference in the SHIB price
The price of Shiba Inu (SHIB) has fallen further above the moving average lines. The bulls and bears are trying to hold above the 21-day moving average as the cryptocurrency continues to lose ground.
The cryptocurrency market is currently grappling with bearish trends, and Shiba Inu (SHIB) is no exception. Recently, SHIB saw a 3% drop in value over 24 hours, trading at $0.0000185.
The value of Shiba Inu, the second-largest meme coin behind Dogecoin, has been fluctuating a lot recently, much like many other coins in the crypto market.
According to the Shibburn meme wallet tracker, over the past 24 hours, the SHIB community has not advanced in burning their favorite meme coin. The data source shows zero Shiba Inu coins scorched with a minus 100% reading of this metric.
At the time of writing, Shiba Inu (SHIB) has experienced significant volatility in its burn rate, with data from Shibburn revealing a dramatic -100.00% decline over the last 24 hours, indicating no SHIB tokens were burned during this period.
Shiba Inus burn rate skyrocketed by 6,750% within a single day, eliminating 27.1 million SHIB tokens, despite a 7.31% decline in price this week. The surge in burns comes alongside heightened transaction activity, indicating strong community support for the tokens supply reduction.
Shiba Inus Shibarium blockchain hit an unprecedented all-time high, with activity spiking by 1,557% in just 24 hours. This surge pushed daily transactions to an astonishing 1.76 million, marking a significant milestone for the network.
Santiments latest analysis ranks Bitcoin, Shiba Inu, and Chainlink among the top cryptos with soaring market sentiment. As analysts predict Bitcoin could hit $230K, these coins are set to be major players in the next rally.
The recent SHIB burns have surged significantly, with over 300 million tokens burned in just a week. Despite this, price has continued its downtrend.
Shiba Inu is currently hovering close to a crucial trendline support level putting, it on the verge of a major breakdown. Any decline below this trendline could be problematic for the price of SHIB, as it has been crucial to sustaining the asset's growth trajectory.
Shiba Inu (SHIB) price, a meme-based cryptocurrency, is experiencing a market correction. In recent days, a notable decrease in the SHIB's value has been observed, indicating a bearish trend.
