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The market is trading sideways as the prices of some coins are rising, while others keep falling.

The Crypto Market Cap fell sharply last week and now trades slightly above an important horizontal support area.

Here are three overvalued cryptos for 2024 that long-term investors should avoid at all costs. The risks are too high.

A groundbreaking partnership is reshaping Brazil's financial landscape as Binance introduces its revolutionary payment solution, Binance Pay, to the thriving market of the world's fifth-largest country. This strategic move not only promises to modernize payment mechanisms but also propels the adoption of major cryptocurrencies like Shiba Inu (SHIB), XRP and Bitcoin to unprecedented heights.

Despite the high crypto volatility YTD, the second largest meme coin by market capitalization and daily traded volume, Shiba Inu (SHIB), has undeniably oscillated between the same price it opened the year.

In the ever-evolving landscape of cryptocurrencies, SHIB, the renowned meme coin, is orchestrating an impressive rebound after encountering a recent setback in the deployment of the Shibarium Layer 2 protocol. Fueled by unwavering support from the SHIB community, the project is demonstrating remarkable resilience and determination in its pursuit to regain lost ground.

The Shiba Inu (SHIB) price has increased by 50% since its June lows, reclaiming the $0.0000080 area in the process.

Leading canine cryptocurrency Shiba Inu continues to acquire new holders, expanding the so-called SHIB army. Over the past 24 hours, the total holder count of SHIB has seen a significant increase.

The ongoing correction in SHIB price has found suitable support at $0.000007 walking close to the 61.8 Fibonacci retracement level. Within a week, the coin price bounced twice from this support indicating a compelling level of interest from investors seeking to accumulate at a discounted price.

The Shibarium gas token, which is also the Shiba Inu governance token, Bone ShibaSwap (BONE), has scored a new exchange listing. Shiba Inu team member Lucie calls attention to the latest development in a new X post.

Summary

Cryptocurrency tracker Whale Alert has spotted a staggering chunk of Shiba Inu shifted over the past 24 hours. The transaction carried several trillion SHIB worth nearly $40 million.

The crypto market is welcoming a slow but broad-based sell-off as key triggers that deepened the losses experienced since the start of the week appear to be wearing off. Shiba Inu (SHIB) is one of the mainstream tokens with a positive start to the day after picking up a 5% upsurge to peg its price at $0.000008187 at the time of writing, per data from CoinMarketCap.

SHIB's recent journey resembles a roller coaster, plunging since 13 August. A flicker of recovery is seen but overshadowed by earlier losses as the bearish RSI at 40 lingers.

Shiba Inu (CRYPTO: SHIB) has experienced a 4% increase in the past 24 hours, outperforming both Dogecoin (CRYPTO: DOGE) and Floki (CRYPTO: FLOKI). What Happened: The rise in SHIB's price comes after Shibarium, Shiba Inu's Layer-2 network, announced the impending relaunch of its enhanced network, stating it is “almost ready” to be reopened to the public.

Shibarium has detailed its fourth upgrade, highlighting system optimizations, the introduction of new monitoring tools, and forthcoming governance structures. On Aug.

After facing initial challenges during its launch last week, Shibarium, the Layer-2 network associated with the Shiba Inu project, is gearing up for a relaunch.

Off the back of the much-anticipated Shibarium launch, the SHIB burn rate has seen a tremendous rise. This surge in the burn rate comes despite the Layer 2 blockchain running into problems on the day of its launch last week, and still being in private mode.

Meme coins reflect a higher beta to the entire crypto sector, but does their recent 25% price drop signal a deepening bear market for BTC, ETH and large caps?

Shiba Inu's lead developer Shytoshi Kusama has announced that the Shibarium layer-2 network is almost ready to reopen to the public after tremendous engineering work.

4.6 trillion Shiba Inu tokens have been spotted to have moved from Bitvavo exchange to a wallet whose details remain unknown. The tokens are said to be worth 38.39$ million at the time of writing.

Shiba Inu (SHIB) has recently witnessed a tumultuous journey marked by a sharp reversal from its peak at $0.00001136. This reversal, known as a V-top, has raised significant concerns within the crypto community and the trading floors.

Shiba Inu and BNB coin have recently been in the spotlight because of their latest developments. While Shiba Inu is creating excitement with the introduction of Shibarium, it also faces challenges. Simultaneously, Binance Coin is in trouble due to Binance's regulatory issues and significant liquidations on the Venus protocol.

A huge Shiba Inu (SHIB) whale has been activating ‘whale alerts' in the crypto community with a total of 13 transactions that follow the same pattern, which could indicate that they were done by the same entity. Finbold looked at the ‘4 trillion token shuffle' tracks, and this is what was found.