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Shiba Inu price saw a massive price increase in 2021 when Vitalik Buterin burned 410 trillion SHIB tokens sent to him by developers. This burn process led to SHIB erasing three zeros from its price within a short time.
Shiba Inu saw a minor price increase, which raises recovery expectations, but a closer look at the chart shows there is not much of a foundation for a full-blown bullish retrace. SHIB's longer-term future does not look as bright as one would like to see.
The Shiba Inu (SHIB 1.83%) cryptocurrency could have turned an investment of just $1 into over $1 million between Jan. 1, 2021, and Oct. 28, 2021. That's right -- after opening at a price of $0.00000000008 per token that year, it soared by more than 100,000,000% to a record high of $0.000086 in just 10 months.
Market reactions will determine if burns can stabilize SHIB's price or if further action is required.
Shiba Inu (SHIB) bulls are nervously prodding the price higher early on Thursday as traders await Friday's highly anticipated White House crypto summit that could reveal the launch of a US strategic Bitcoin reserve. The post Shiba Inu Stuck In a Downtrend – SHIB Price Collapse Coming? appeared first on Cryptonews.
Over the past year, Bitcoin has remained one of the few stable forces in the crypto market, marking significant growth. In contrast, many altcoins, including Shiba Inu (SHIB), have struggled to maintain momentum.
Trading volume for Shiba Inu is rising significantly, but the conditions surrounding this upswing are not encouraging. Although a spike in volume frequently indicates increasing momentum and interest, the fact that it appears during a downtrend should be interpreted differently.
Shiba Inu (SHIB) price a popular meme-based coin, holds above the $0.000013 support level. The price has seen slight gains in the past 24 hours as market sentiment improves.
The Shiba Inu futures' open interest has been in the spotlight in the past 24 hours as the broader market momentum shifted positively. Per data from CoinGlass, open interest has jumped by over 6% in 24 hours.
Few things have been stable on the cryptocurrency market over the past 12 months, except for the rise of Bitcoin. If you compare the prices then and now, only the main cryptocurrency has shown any significant growth over this period.
Pi Network's subscribers base on X may soon exceed Dogecoin's (DOGE).
Shiba Inu (CRYPTO: SHIB) is benefiting from renewed optimism in crypto markets, but technical analysis suggests caution despite rising burn rates. Cryptocurrency Price Market Cap 24-Hour Trend 7-Day Trend Shiba Inu (CRYPTO: SHIB) $0.00001324 $7.8 billion +5.4% -6.7% Dogecoin (CRYPTO: DOGE) $0.2019 $29.9 billion +6.6% -2.3% Pepe (CRYPTO: PEPE) $0.057123 $2.9 billion +6.4% -12.4% Trader Notes: According to TradingView's technical analysis, SHIB's Relative Strength Index (RSI) sits at 38.5, indicating oversold conditions.
The Shiba Inu (SHIB) community has again shown its dedication to lowering the token's overall supply. According to Shibburn data, 39,185,585 SHIB tokens were burned in the last 24 hours, resulting in a staggering 5,440.85% surge in the daily burn rate.
The combined digital currency ecosystem has pared off its losses from the past week after a swift rebound pushed Bitcoin (BTC) and altcoins like Shiba Inu (SHIB) to a new monthly high. Shiba Inu, in particular, has recovered from its worst sell-off earlier in the week and is now changing hands for $0.00001309, up by 3.33% in the past 24 hours, per data from CoinMarketCap.
Shibburn, a leading on-chain data tracker for Shiba Inu (SHIB), reported a massive burn transaction that removed 20 million SHIB from circulation. This transaction, carried out by an anonymous whale, contributed to todays total burn of 20,794,281 SHIB, marking a 34.24% increase in the daily burn rate.
Shiba Inus marketing lead, Lucie, addressed the SHIB community amid the latest crypto market downturn, advising holders to focus on building strong connections rather than reacting to negative sentiment. She noted that despite numerous project announcements, the current bearish trend is dragging prices down across the board.
Shiba Inu (SHIB) recently attempted to break above the 26-day Exponential Moving Average (EMA), but the move was a fakeout, trapping bullish traders before the price retraced. Currently, SHIB is trading around $0.00001410, lacking strong upward momentum.
Shiba Inu (SHIB) price has been consolidating after the recent crypto market correction. However, analysts see signs of a rebound, indicating a potential bullish trend.
Shiba Inu (SHIB) has been facing a difficult period in the cryptocurrency market, with its price nearing a critical point where it could lose even more value. Once a top contender in the coin space, SHIB is now under intense selling pressure, erasing most of its recent gains and trading at its lowest levels in months.
March appears promising for Bitcoin and the broader cryptocurrency market, as a handful of bullish events and historic market patterns are expected to occur in the coming weeks.
Popular onchain data platform Shibburn, which tracks SHIB burn transactions on the Ethereum chain and then shares the details on its website and its X handle, has noticed a massive SHIB transaction which proved to be a burn transfer.
The Dogecoin and Shiba Inu prices have witnessed double-digit crashes in the last few days, sparking a bearish sentiment for the foremost meme coins. This price decline has occurred due to several factors, including Trump's tariffs on Mexico and Canada.
Meme coin battle heats up as Catzilla rises with a 700% ROI potential, challenging SHIB's dominance. #partnercontent
Shiba Inu (SHIB), the dog-themed meme coin, has posted a rebound in its price action after witnessing intense volatility in the past seven days. SHIB dipped to a low of $0.00001238 from a high of $0.00001512 within this time frame.
