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Shiba Inu whales have been noticed recently making a lot of moves despite the high volatility of the meme coin right now. Most importantly, these large whales more than doubled their volume in 24 hours, which could have serious implications for the SHIB price.
The Shiba Inu is going through a tumultuous period, far from the past euphoria of meme coins. While its price struggles to break out of a narrow range, the activity of Shibarium, its layer 2 network, is dangerously waning.
The price chart of Shiba Inu has formed a symmetrical triangle, signifying a period of consolidation. Volume has been gradually declining as the price has stabilized, as the volume profile shows.
Shiba Inus burn rate increased by 450%, removing nearly 3 million SHIB from circulation in the last day. The tokens price has surged 32% over the past month, and analysts forecast a potential 30x price increase based on market momentum.
Ki Young Ju, founder and CEO of On-chain analytical platform CyproQuant, is convinced that meme coins can find order and become less chaotic. He made this statement in a post he shared on X, responding to meme coin analyst Murad Mahmudov's predictions.
The market capitalization of meme coins is trading sideways over the last 24 hours, with a majority of established memes like Shiba Inu (CRYPTO: SHIB), Pepe (CRYPTO: PEPE) and Dogwifhat (CRYPTO: WIF) failing to back up their September gains. What Happened: Crypto trader Unipcs highlighted that despite the hype around newer coins, established ones like Dogecoin (CRYPTO: DOGE), Shiba Inu, Floki (CRYPTO: FLOKI), Bonk (CRYPTO: BONK), Dogwifha, and Pepe are poised for a significant rally.
The Meme coins category has continued recording a volatile price action over the past few days. This highlights increased price action for these projects in the market.
Bitcoin's failure to hold $62,000 may trigger another selloff and pull altcoin prices lower.
SHIB stuck to the positive market sentiment it has experienced over the last month.
Dog-themed cryptocurrency Shiba Inu (SHIB) has seen 1.99 trillion SHIB in large transaction volume, according to data from IntoTheBlock.
Dogs (DOGS) and Notcoin (NOT), two major cryptocurrencies of The Open Network (TON) ecosystem, just finished their first joint token burn event. So far, it looks like the community remains unimpressed by the effects of the action, as both assets are losing value.
Buyers are becoming weaker as most of the coins have returned to the red zone, according to CoinStats.
Shiba Inu price remained in a tight range, underperforming some of the newly minted meme coins like Popcat, Neiro, and SPX6900. Shiba Inu (SHIB) was consolidating at $0.00001718 on Oct.
Considering the trajectory of the token's price, the 435 trillion Shiba Inu cluster has substantial potential. Based on the on-chain data the most active addresses hold SHIB between $0.000016 and $0.000017 and the cluster forms around this narrow range.
After an unexpected price drawdown in the past 24 hours, Shiba Inu (SHIB) is finally getting back to the game. The meme coin project is gradually seeing an uptick in growth metrics, including the burn rate.
Amid the broader market consolidation, the SHIB Price is once again picking up pack gaining over 3% as the Shiba Inu burn rate soared by 450% in the last 24 hours. As a result, more than 2.9 million SHIB coins have moved out of circulation thereby putting an upward price pressure.
The Shiba Inu teams marketing expert, Lucie, has urged the SHIB community to avoid gambling on risky new meme coins, citing an imminent supercycle and the rising dangers of sudden rug pulls. Instead, she emphasized the importance of supporting projects with real-world value.
Shiba Inu (SHIB) is experiencing renewed interest due to ETF speculation and long-term growth projections, but its future price movement remains uncertain and subject to market dynamics.
Shiba Inu (SHIB) was announced by a prominent crypto personality as the most donated meme coin as these type of coins continue to grow in importance for charitable causes. This kind of recognition shows how these digital assets can benefit communities and gain business traction.
SHIB is one of the best-performing cryptocurrencies today (October 9).
Shiba Inu price has been performing well recently, gaining 33.5% in the last 30 days. SHIB broke out of a bullish reversal pattern, and the market anticipates that it will rise even higher as speculation of a Shiba Inu ETF floods the crypto space.
Shytoshi Kusama, the mysterious lead developer and co-founder of the Shiba Inu (CRYPTO: SHIB) ecosystem, shared a cryptic post, sparking intrigue and speculation in the cryptocurrency community.
ETFSwap (ETFS) is quickly emerging as the cryptocurrency to watch, with experts predicting that it will outclass popular tokens like Shiba Inu (SHIB), Dogecoin (DOGE), and PEPE combined.
The price of Shiba Inu might be currently declining, but an analyst says the meme coin is gearing up for a bullish run as it is currently flashing a buy signal. According to Cantonese Cat, SHIB is now flashing a strong buy signal based on the L3 Banker Fund Flow Trend Oscillator, a relatively lesser-known indicator.
