Shiba Inu Targets New Peaks Amid Bullish Sentiment
Shiba Inu (SHIB) has entered a renewed bullish phase, capitalizing on the broader recovery in the cryptocurrency market. Despite dipping to $0.00002713 within the past 24 hours, the token rebounded sharply, crossing the $0.00003 threshold. SHIB’s price climbed by 3.6% in a 24-hour window, signaling the beginning of its second bullish cycle. Price Fluctuations Highlight Resilience Over the past week, SHIB demonstrated volatility, recording significant highs and lows. However, it maintained a strong 22.37% upward trend, outperforming expectations despite frequent pullback attempts. The token’s burn rate remains erratic, often leaning toward the negative. Source: CoinMarketCap Still, Shiba Inu continues to ride the momentum of the broader market to sustain its uptrend. Breaking through the $0.00003 resistance level positions SHIB closer to its all-time high (ATH) of $0.00008845. The token now sits 65% away from reclaiming this peak. Related article: SHIB Burn Rate Soars: Massive 144,045% Spike Stuns Community Drawing inspiration from recent gains in Binance Coin (BNB) and Tron (TRX), SHIB could leverage the ongoing bullish sentiment to aim for this ambitious milestone. Despite uncertainty in the crypto space, Shiba Inu holds solid fundamentals to support its growth trajectory. Technical Indicators Signal More Growth Technical analysis suggests SHIB still has room to rise. The Relative Strength Index (RSI) currently reads 67, indicating the token has not yet entered the overbought zone. The next price target sits at $0.00003307, SHIB’s 30-day high. Related article: Shiba Inu Holders Eye Critical Levels with Trillions Incoming Retail and whale investors are increasing their SHIB holdings, reflected in a 17.32% surge in trading volume to $3.2 billion. Developers are also fostering innovation within the community, enhancing engagement with updates on reward programs and scam alerts. By strengthening its community and driving new initiatives, Shiba Inu aims to close the gap with its rival, Dogecoin (DOGE). Both tokens continue competing for dominance in the meme coin sector, with SHIB positioning itself for sustained growth.
SHIB Burn Rate Soars: Massive 144,045% Spike Stuns Community
Shibburn tracker data reveals a dramatic spike in Shiba Inu’s burn rate over the last 24 hours. The SHIB community witnessed a staggering increase of 144,045%, marking a significant milestone not seen in recent months. In total, 2,041,299,351 SHIB tokens were sent to unspendable wallets, effectively reducing the circulating supply. Weekly Burn Rate Doubles The recent burn rate extended beyond daily metrics. Over the past seven days, the total burn reached an impressive 4,251,012,135 SHIB. This surge represents a weekly increase of 1,990.39%, highlighting the community’s intensified efforts. Many SHIB enthusiasts responded enthusiastically to these developments, sharing optimistic predictions and expressing bullish sentiments on social media. The SHIB development team recently rolled out a significant upgrade for the Heimdall and Bor hardforks, previously integrated this year. This latest update aligns with Ethereum’s Dencum fork, focusing on enhanced performance, security, and blockchain management within Shibarium. Related article: Shiba Inu Price Falls 13%: What’s Next for SHIB Investors? The team also introduced a new SHIB burn contract. While they withheld detailed specifics, the announcement promised a considerable reduction in the circulating supply, aiming to add value for SHIB holders. Price Surge Follows Burn Event Following the burn news, Shiba Inu’s price saw a notable increase. SHIB’s value jumped by over 10%, rising from $0.00002757 to $0.00003060 within 24 hours. This price movement aligns with the growing optimism surrounding SHIB’s future prospects. Related article: Shiba Inu Price Rebounds: Will It Sustain Momentum? Shytoshi Kusama, SHIB’s enigmatic founder, recently expressed ambitious plans to elevate Shiba Inu into the top five cryptocurrencies. He emphasized a commitment to this goal, despite a limited budget. Kusama’s statement came shortly before XRP’s surprising leap from seventh to third place in market capitalization, further fueling speculation and excitement within the community. These developments reflect the SHIB community’s determination to drive growth and create long-term value through strategic initiatives and community engagement.
Shibarium Unveils Burn Contract in Latest Blockchain Upgrade
Shibarium’s official X account, @ShibariumNet, recently announced a significant update for its layer-2 blockchain. The upgrade includes updates to Heimdall and Bor hardforks, along with a new contract dedicated to burning SHIB tokens. This enhancement makes Shibarium compatible with Ethereum’s Dencun hardfork, aligning it with the latest blockchain advancements. The team’s guidance documents recommend starting with the Heimdall update before proceeding to Bor. The upgraded Heimdall ensures seamless operations within the post-Dencun environment, boosting efficiency. Heimdall and Bor Updates Focus on Performance The Bor upgrade emphasizes better performance, enhanced security, and improved blockchain management. Notably, it introduces a new SHIB burn contract, designed to support future updates and improvements. The burn contract will go live at block 8,200,512. Related article: Shibarium TVL Surges to All-Time High of $8.57 Million Though the details remain scarce, the team promises the upgrade will significantly help reduce the SHIB token supply, potentially adding value for holders. The guidance also stresses the importance of node runners updating their nodes before downloading the hardfork versions. Massive SHIB Burns Increase Burn Rate In the past 24 hours, SHIB enthusiasts burned a staggering 2,022,950,833 SHIB tokens. A single transaction accounted for 2,020,624,700 of these tokens, driving the SHIB burn rate up by 3,162.56%. Related article: Shiba Inu Holders Eye Critical Levels with Trillions Incoming According to comments on the Shibburn tracker, the founder of SquidGrow, Shibtoshi, likely initiated this massive burn. Last week, he destroyed an additional 1,003,266,585 SHIB. Thanks to these efforts, the SHIB community successfully burned 3,162,301,655 tokens in November alone. The new burn contract and continuous burns could strengthen SHIB’s position by reducing its overall supply. As Shibarium aligns with Ethereum’s latest updates, holders may see increased value over time.
Shiba Inu Holders Eye Critical Levels with Trillions Incoming
On-chain data signals a significant inflow of 33.7 trillion Shiba Inu (SHIB) tokens within the next 24 hours. This surge could introduce notable volatility in the token’s price. The substantial increase in SHIB supply may impact market dynamics, triggering shifts in investor behavior and price movements. Current Price Resistance and Key Support Levels The price chart reveals that SHIB currently faces resistance at $0.000031. In the past 24 hours, the token’s price has dropped by 1.7%, reflecting growing selling pressure after a recent rally. Investors are closely monitoring the $0.000027 and $0.000025 levels, which serve as crucial support zones. If buying interest emerges at these points, SHIB may stabilize. Source: CoinMarketCap However, the expected influx of 33.7 trillion tokens could lead to heightened volatility and further fluctuations. Large transactions, often referred to as whale movements, may drive this anticipated influx. These transactions could indicate significant accumulation or potential sell-offs. Related article: Shiba Inu Price Falls 13%: What’s Next for SHIB Investors? The outcome depends on whether whales choose to buy or offload their holdings. With the Relative Strength Index (RSI) hovering around neutral levels, the token’s price could swing in either direction. Community Sentiment and Profitability Metrics Despite recent price challenges, SHIB continues to maintain strong transaction volume and community engagement. However, profitability data suggests that many holders remain cautious about expanding their positions. Most investors appear to be waiting for clearer signs of upward momentum before increasing their holdings. Related article: Shiba Inu Lead Disassociates from Shiro Neko Amid Partnership Announcement Market psychology plays a critical role in understanding how the influx of SHIB might affect prices. A large supply increase often raises concerns about token dilution, which can lead to temporary price declines. On the other hand, if whales capitalize on the influx to accumulate more tokens, the market could interpret it as a bullish signal. In the coming hours, traders and investors will closely watch price movements and whale activity to gauge the token’s next steps. The balance between selling pressure and accumulation will likely determine SHIB’s short-term performance.
Charles Hoskinson Unveils Key Updates in Hydra Development
Cardano’s founder, Charles Hoskinson, has spotlighted a major milestone involving the Hydra Doom testing, which included active participation from the community. The developer team recently conducted a load test to push the Hydra Head protocol to its limits. Hoskinson, who closely monitored this initiative, shared performance statistics on X (formerly Twitter) to provide feedback on the results. Hydra Head Protocol Boosts Scalability Known for its speed and scalability, Cardano remains one of the fastest proof-of-stake (PoS) layer-1 blockchains. To further enhance its capabilities, Input-Output Global (IOG) developed the Hydra Head protocol. This innovation aims to increase throughput and improve transaction processing on the network. Related article: Cardano Enhances User Experience with Lace 1.17.5 Wallet Update Hydra’s potential extends beyond financial transactions. A gaming title, Doom, will soon host a large tournament on Hydra, testing the protocol under real-life conditions. During the recent load test, Cardano achieved an impressive 134,464 transactions per second (TPS), a significant leap from its usual 257 TPS. While these figures showcase Hydra’s potential, real-world simulations involving actual users will confirm if such performance levels are sustainable. Upcoming Developments and Projects Hoskinson remains committed to advancing Cardano’s ecosystem. In line with this, he recently announced his next project, Quantum Hosky, which aims to introduce new utilities. Though Hydra’s broader applications remain undisclosed, the protocol appears ready for retail use and expansion beyond gaming. Related article: Cardano Faces Resistance: What’s Holding Back the Rally? Cardano’s native token, ADA, has seen notable gains amid the ongoing bull market. Over the past 24 hours, ADA surged by 16.42%, reaching $1.245. Within this period, the token climbed from a low of $1.0723 to a peak of $1.318. Over the past week and month, ADA has risen by 37.88% and 269.31%, respectively. These gains put ADA on track to reclaim its all-time high (ATH) of $3.099. If historical trends continue, ADA may surge by another 66% this month, potentially helping Cardano achieve its long-term goals. The upcoming Hydra tournament and ongoing utility upgrades are expected to drive further momentum.
Shiba Inu Price Falls 13%: What’s Next for SHIB Investors?
Shiba Inu (SHIB) experienced a sharp 13% decline in the past 24 hours, falling from a high of $0.000033 to $0.000029. This drop follows a strong rally earlier in the week, where SHIB broke through key resistance levels. Notably, the price previously broke out of a bullish pennant pattern, raising hopes for a sustained uptrend. Market analysts suggest that SHIB’s recent correction may be due to overbought conditions. The Relative Strength Index (RSI) indicates a cooling-off phase as SHIB entered overbought territory during its rally. Despite the drop, on-chain data reveals that 73% of SHIB holders remain profitable at current price levels, signaling that most investors are still in the money. Source: CoinMarketCap Whale Activity Drives Volatility Large holders, or “whales,” have played a significant role in SHIB’s recent price movements. With 74% of SHIB’s supply concentrated among these major players, whale activity has driven both the rally and subsequent sell-off. Over the past week, transactions exceeding $100,000 totaled $1.63 billion, highlighting strong participation from these investors. Related article: SHIB Burns Surge Over 5,000%: Can It Fuel a Price Rebound? SHIB’s next crucial support level sits at $0.000027. If the token holds this level, a rebound could occur, driven by renewed interest from both institutional and retail investors. For SHIB to regain its bullish momentum, it needs to break through resistance levels at $0.000033 and $0.000036. Long-Term Holders Show Confidence Despite the recent downturn, SHIB continues to show strong network activity. A notable 77% of holders have kept their positions for over a year, reflecting confidence in the token’s long-term fundamentals. Related article: Shiba Inu Price Rebounds: Will It Sustain Momentum? While the current correction may signal consolidation, further declines remain possible if selling pressure persists or broader market conditions worsen. Investors should monitor key support and resistance levels closely. A sustained rally could follow if market sentiment improves and support holds, but caution remains essential in navigating this volatile period.
Shiba Inu Unveils Christmas Giveaway Plans
The Shiba Inu ecosystem team plans a special Christmas giveaway for its community. Lucie, the project’s marketing lead, revealed the news yesterday, confirming that the team has approved a budget for an “incredible Christmas giveaway.” Dubbed the “Amazing Christmas Bone December,” the event promises significant rewards for participants. Lucie hinted that prizes may include Bone ShibaSwap (BONE), Shibarium’s official gas token, or other related incentives. Although the giveaway hasn’t officially launched yet, the team encourages community members to stay updated. Key Accounts to Follow Lucie urged followers to track updates from Shiba Inu developers Shytoshi Kusama and Kaal Dhairya on X. She also recommended following two Shiba Inu-related projects: TREAT and Shibarium Updates. According to Lucie, staying connected is crucial as the event will be “HUGE.” Related article: Shiba Inu Price Plummets: Can It Regain Bullish Momentum? The announcement sparked excitement among community members. However, some questioned why BONE, rather than SHIB, is the focus of the giveaway. Neither Lucie nor other team members have addressed this yet. The decision may aim to boost BONE’s visibility and adoption during the festive season. BONE’s Market Performance Currently, BONE trades at $0.5378, reflecting a 1.99% daily decline. Despite this, BONE remains up 3.78% over the last seven days and has gained 35.67% over the past month. The planned giveaway could further enhance its market presence. Related article: Shiba Inu Price Rebounds: Will It Sustain Momentum? This Christmas giveaway follows similar initiatives from previous years. Last year’s “Shibarium Giveaway Party” featured collaborations with partners like Bad Idea AI and Welly. The event concluded with the distribution of ten branded blockchain wallets to participants. In addition to holiday giveaways, the team hosted several promotional events in 2024. These include a $2,000 contest for Shibarium users, an airdrop of 500,000 PHIL tokens for SHIB holders, and a raffle offering 300 Shibacals store credits. Shiba Inu’s Christmas event promises excitement and engagement for the community. With substantial rewards at stake, fans eagerly await further updates.
Cardano Faces Resistance: What’s Holding Back the Rally?
Cardano (ADA) has struggled to maintain its position above the $1 mark despite crossing it several times in recent days. According to data from CoinMarketCap, ADA reached a high of $1.11 on multiple occasions but quickly dropped below $1 afterward. These rapid fluctuations highlight the intense volatility in the market. Investors had hoped that ADA would solidify its position above $1, with some predicting a test of the $1.50 resistance level. However, the token’s erratic price action shows that it is facing significant resistance. Broader Market Sentiment Impacts ADA’s Momentum The broader cryptocurrency market’s sentiment appears to be influencing ADA’s performance. Bitcoin’s inability to surpass the highly anticipated $100,000 mark has dampened the outlook for altcoins like Cardano. Related article: Cardano (ADA) Investors Seize $130 Million Opportunity Amid Price Dip Many investors expected Bitcoin’s rally to have a positive spillover effect, boosting other digital assets. Instead, Bitcoin’s stalled momentum has made investors hesitant to increase their exposure to ADA. Without a clear upward trend from Bitcoin, confidence in ADA’s potential rally remains low. Volatility Remains a Key Challenge As of now, ADA trades at $0.9949, reflecting a 2.08% decline in the past 24 hours. The token has experienced significant price swings during this period, hitting a high of $1.03 before dropping to a low of $0.9852. Source: CoinMarketCap Although ADA attempted a rebound, it still struggles to convert the $1 mark from resistance into support. This ongoing volatility signals that the market remains unstable and uncertain. Analysts have used the Fibonacci sequence to predict ADA’s potential price levels during the current bull market. Related article: Cardano Enhances User Experience with Lace 1.17.5 Wallet Update Their projections place $2.453 as a significant target. However, for now, the market’s sentiment does not seem strong enough to push ADA toward this goal. Investors continue to watch for signs of a sustained rally and hope for a positive shift in the coming weeks. Cardano’s delayed rally underscores the influence of broader market forces and the challenges posed by volatility. Until Bitcoin regains momentum, ADA’s path to higher levels remains uncertain.
XRP Targets $2: Bullish Momentum Builds Amid Market Shift
XRP is steadily climbing toward the $2 mark, signaling strong intent to reach its long-awaited target. Despite a generally neutral crypto market, the token has broken out from its bearish flag pattern, igniting fresh bullish momentum. With Bitcoin’s dominance gradually declining, altcoins like XRP now have an opportunity to capitalize on this shift. Currently, XRP trades at $1.45, supported by rising investor confidence and increased trading activity. The recent breakout reflects changing market sentiment, drawing interest from traders anticipating further gains. However, trading volume remains somewhat muted, which could temper the pace of XRP’s rally. Related article: XRP Breakout Looms: Can It Sustain Momentum Above $1.50? Key Technical Levels Support Continued Gains From a technical perspective, XRP has reclaimed support above $1.40, establishing a strong base for its next upward move. Previously, the token encountered resistance at $1.70, which now stands as the next critical level to overcome. Source: CoinMarketCap A successful break above this level, especially with significant volume, could propel XRP toward the psychological $2 barrier. On the downside, the $1.20 support zone remains crucial. If bullish momentum falters, this level may face retests. Despite this, XRP’s outlook remains promising due to the rising popularity of altcoins amid Bitcoin’s waning influence. Cautious Optimism as Volume Holds the Key While market sentiment around XRP is improving, caution is still warranted. The token’s upward movement heavily depends on sustained trading volume and broader market dynamics. Related article: XRP Rebounds Strong: Will It Hit $1.50 Next? External factors could still influence price action, making it essential for investors to remain vigilant. A gradual climb toward $2 appears likely, though a sharp surge will require stronger trading activity to support the move. For now, XRP’s path remains upward, bolstered by a favorable environment for altcoins and growing market interest.
SHIB Burns Surge Over 5,000%: Can It Fuel a Price Rebound?
The Shibburn tracker reported a major surge in SHIB coin burns over the past 24 hours. The community sent 61,468,595 SHIB tokens to “inferno” wallets, removing them from circulation. This effort pushed the burn rate up by an astonishing 5,154%. A single transaction of 48,266,929 SHIB, accounting for nearly 81% of the total burn, fueled this spike. The wallet responsible for this transfer remains unidentified, adding intrigue to the event. Following this, two smaller burns occurred, involving 6,008,171 and 3,938,558 SHIB, respectively. Altogether, these transactions highlight the SHIB community’s ongoing commitment to reducing the token’s supply. SHIB Price Struggles After Brief Surge Despite the burn, SHIB’s price attempted a rally but failed to sustain momentum. Initially, the token climbed by 7.5%, hitting $0.00002652. This marked a peak in a 12% increase since Tuesday. Related article: Shiba Inu Price Plummets: Can It Regain Bullish Momentum? However, SHIB soon dipped by 4.3%, falling to $0.00002539 at the time of writing. The price fluctuation underscores SHIB’s volatile nature despite community-driven supply reduction efforts. SHIB’s Lead Marketer Urges Patience Lucie, Shiba Inu’s marketing lead, addressed the community with a message of patience and perseverance. She discouraged pumping millions into projects or influencer campaigns, emphasizing organic growth. According to her, unless one is a crypto billionaire, the best strategy involves staying committed to long-term goals. Related article: Shiba Inu Price Rebounds: Will It Sustain Momentum? Lucie advised SHIB holders to “focus on doing what you love” and let projects grow naturally. She also cautioned against shady individuals profiting without adding value, urging the community to ignore negativity and continue building. The SHIB community’s dedication to burning tokens highlights its determination to impact the coin’s supply. However, price volatility remains a challenge. As the SHIB team pushes for long-term growth and discourages shortcuts, the community’s patience will likely play a key role in shaping the token’s future.
