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After retracing below the psychological $100,000 threshold, Bitcoin has investors wondering if this is a short-term decline or a more substantial change on the market. As of right now, Bitcoin is trading at about $95,933, down 1.04% from the previous day.
The Shiba Inu (SHIB) community was left stunned when Crypto.com, one of the leading cryptocurrency exchanges, moved a massive 32.74 trillion SHIB—worth approximately $390 million—into an unknown wallet. The massive transaction, initially flagged by blockchain tracker Whale Alert, fueled various speculations, including concerns of potential hacks, whale activity, and market manipulation.
Wednesday was another trading session full of losses for all types of cryptocurrencies. Several macroeconomic news items from the previous day continued to push down sentiment, as did rising bond yields.
The Shiba Inu and Dogecoin prices have suffered double-digit losses today, having started the week on a positive note. This price drop has occurred thanks to macroeconomic factors, which present a bearish outlook for these coins.
Crypto's second biggest doge-themed meme coin, the $12.6 billion Shiba Inu ($SHIB), has experienced a significant 2,133% surge in its burn rate, which coincided with a 10% increase in price. The community says these burns are helping $SHIB keep its place among the best meme coins even as the top ten leaderboard gets a reshuffle.
A whale transferred a significant 8.18 trillion SHIB coins worth $195.1 million.
Shiba Inu's Layer 2 solution, Shibarium, has just crossed a huge milestone—over 700 million transactions. This marks a pivotal moment for the network, which is quickly becoming a key player in the Shiba Inu ecosystem.
In recent developments, Stellar (XLM) has surpassed Shiba Inu (SHIB) in the cryptocurrency market rankings. Stellar is ranked 15th among the top cryptocurrencies by market capitalization, with a market value of $13.15 billion, while Shiba Inu has dropped to 16th, with a current market valuation of $12.69 billion.
Shiba Inu lead developer Shytoshi Kusama has recently commented on the utility of SHIB, BONE, LEASH, and the soon-to-launch TREAT token. This has gained notable traction from the investors, as the market participants eagerly await the launch of the TREAT token, expected on January 14.
Shiba Inu coin price has crashed by over 35% from its December high and faces further downside risks as the burn rate and Shibarium fees continue to decline. Shiba Inu (SHIB) retreated to $0.
Dominating the crypto narrative, crypto bears are pushing down on meme coins. However, Shiba Inu, clinging to a crucial support, hints at a bounce back. Will this result in a quick V-shaped reversal?
In the last 24 hours, Shiba Inu's burn rate has surged by an astonishing 4,100%, with a total of 21,709,094 SHIB tokens permanently removed from circulation.
Leading meme coin Shiba Inu has noted a 10% price fall in the past 24 hours. This drop follows a surge in profit-taking by traders, who cashed out a staggering $426 million on Tuesday, its biggest single-day selloff since 2022.
The cross-border market has witnessed a strong bearish action with major cryptocurrencies recording a double-digit drop. Moreover, the memecoin category is the most affected with an 11.48% drop in the segment's valuation. Following this, Dogecoin and Shiba Inu have both secured a spot in the top losers list.
Shiba Inu (SHIB) price fell sharply on Wednesday, dropping over 10% in the past 24 hours. The decline broke crucial support levels following a market-wide correction that erased gains from the recent bullish trend.
A change in market sentiment is indicated by Shiba Inu's recent decline below a crucial support level. SHIB is currently trading below the 100 EMA and getting closer to the crucial 200 EMA, per the charts.
Finding the next great prospect is an ongoing hunt as the cryptocurrency market enthrals investors. Rexas Finance (RXS) has become a convincing substitute for those let down by Shiba Inu price drop.
The trading volume of Ethereum, the second-largest cryptocurrency by market capitalization, has significantly increased recently. This significant rise is a sign of increased market activity since it implies that traders and investors are participating more actively.
Shiba Inu (SHIB -9.94%) is seeing big sell-offs in Tuesday's trading. The cryptocurrency's token price was down 8.2% over the last 24 hours -- a period that also saw Bitcoin's price fall 5% and Ethereum's price fall 7.4%.
Shiba Inu (SHIB) has recently drawn attention as large-scale transactions involving the token were spotted on-chain. According to Whale Alert, a blockchain analytics platform, more than 1.6 trillion SHIB tokens, worth about $39 million, were transferred from Crypto.com to anonymous wallets.
Shiba Inu (SHIB) trading volume soared, hitting $503 million as anticipation of the TREAT token launch drives activity.
Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB) are falling on Tuesday, as Bitcoin finds itself trading back below $98,000. Cryptocurrency Price Market Cap 24-Hour Trend 7-Day Trend Dogecoin (CRYPTO: DOGE) $0.3669 $54.12 billion -5.8% +12.9% Shiba Inu (CRYPTO: SHIB) $0.00002253 $13.3 billion -7.9% +3.9% Pepe (CRYPTO: PEPE) $0.00001906 $8 billion -9.8% -10.4% Trader Notes: Crypto chart analyst Ali Martinez flagged a sell signal on DOGE's daily chart, predicting a potential price correction.
The American crypto exchange Coinbase has increased SHIB's spot trading volume by 1,711%. The rise has been attributed to the SHIB/USD pair on Coinbase, which has generated $13.12 million in trading over the last 24 hours.
