Shiba Inu Eyes Critical Resistance as Market Volume Declines
Shiba Inu (SHIB) approaches a crucial resistance level that could shape its short-term price direction. The resistance, linked to a transactional level of five trillion SHIB, is likely to trigger substantial selling pressure. This barrier may either support SHIB’s upward movement or force a retracement, making it a pivotal moment for the asset. Price Momentum Slows After Recent Rally SHIB’s price action reveals a mixed outlook. Despite an earlier rally, momentum appears to be fading. Bulls have struggled to maintain control, failing to push the price past the key $0.00003300 mark. Weak market participation and low trading volume have limited the potential for a sustained upward move. Source: CoinMarketCap Currently, SHIB hovers near $0.00003000, a level that has acted as short-term support. However, this support level may not hold for long. The past few days have seen a significant drop in trading volume, weakening the support at $0.00003000. Related article: Shiba Inu (SHIB) Shows Potential for Growth Despite Market Challenges If the price breaks below this zone, SHIB could decline to $0.00002700 or even $0.00002500. Historical data shows that these levels have served as important support points during past trading cycles. Potential Upside If Resistance Breaks On the flip side, a rally could emerge if bulls regain momentum. If SHIB surpasses the $0.00003300 resistance, it may aim for $0.00003500 or higher. For this to happen, trading volume and market participation must increase. Without a boost in market activity, sustained bullish momentum appears unlikely. Related article: SHIB Burn Rate Skyrockets: Can It Boost the Price? The Relative Strength Index (RSI) signals market indecision. Currently, SHIB remains in a neutral zone, reflecting a lack of clear bullish or bearish dominance. This uncertainty makes it harder for the token to maintain its previous bullish momentum. Investors should keep a close eye on two critical levels: $0.00003300 on the upside and $0.00003000 on the downside. A breakout above $0.00003300 could signal a bullish reversal, while a breakdown below $0.00003000 might trigger a deeper decline. Given the market’s current indecisiveness, caution is advised as SHIB navigates this crucial resistance level.
Shiba Inu (SHIB) Shows Potential for Growth Despite Market Challenges
Shiba Inu (SHIB) continues to attract attention due to recent price movements and positive on-chain data. Its resilience amid broader market uncertainties has piqued investor interest, especially those eyeing a potential recovery. Notably, 56.34% of SHIB holders are currently profitable, highlighting strong returns at existing price levels. Key Support and Resistance Levels SHIB’s activity clusters between $0.000027 and $0.000029, marking a crucial support zone. Meanwhile, resistance looms between $0.000031 and $0.000033, posing a challenge for sustained upward movement. Breaking through this resistance could pave the way for further gains, while maintaining the support zone is essential to avoid deeper pullbacks. Related article: Shiba Inu Developer Hints at Shifu Token: A New Addition to the Ecosystem Although 129,000 to 139,000 addresses are profiting, only 16-45% of addresses are active in the current price range. This imbalance signals potential for increased demand if market sentiment improves. The gap suggests room for additional accumulation as investor confidence strengthens. Recent Price Fluctuations and Volume Trends SHIB recently rallied to $0.000033 before retracing to $0.000031. While this pullback may seem concerning, the asset remains in a promising position. Increased trading volumes and steady price recoveries hint at a possible return to an upward trajectory. Source: CoinMarketCap Immediate resistance stays at $0.000033, with a potential breakout pushing prices toward $0.000035. However, losing support at $0.000026 could lead to retesting the $0.000022 zone, signaling deeper corrections. Related article: Shiba Inu Targets New Peaks Amid Bullish Sentiment Shiba Inu’s long-term success hinges on its ability to sustain momentum and break through significant resistance levels. Expanding network engagement and rising on-chain activity suggest growth opportunities. However, broader market recovery and stronger bullish sentiment remain vital for SHIB’s continued progress. Holding 108 billion SHIB may not guarantee success, but consistent market support and favorable conditions could drive future gains. SHIB’s resilience and market positioning indicate potential, but its trajectory will depend on overcoming key hurdles.
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.
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.
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 Lead Disassociates from Shiro Neko Amid Partnership Announcement
Shytoshi Kusama, lead developer of SHIB has issued a statement, distancing himself from Ethereum-based cat-themed memecoin Shiro Neko. This comes amid the announcement of a partnership between Shiba Inu and Shiro Neko. Shiba Inu and Shiro Neko Launch Dual-Staking Initiative The partnership was highlighted on Shiba Inu’s official X handle, which described it as “crypto’s fiercest.” Shiro Neko will introduce a dual-staking initiative after its launch on December 2. SHIB and SHIRO holders will benefit from staking rewards as part of this initiative. SHIB stakers will receive SHIRO rewards, while SHIRO stakers will earn SHIB as incentives. This move is considered a significant advantage for holders of both tokens. Concerns Raised Over Shiro Neko’s Legitimacy The partnership announcement has received mixed reactions from the Shiba Inu community. While many welcomed the collaboration as a way to boost SHIB’s adoption, others raised concerns regarding Shiro Neko’s credibility. A prominent community member, Danoshi, commented sarcastically on the partnership, hinting at scepticism over its authenticity. In response, Kusama clarified that he has no association with Shiro Neko and requested that his name not be linked to the project. Read Also: Shiba Inu Unveils Christmas Giveaway Plans Early Interactions Between Shiro Neko and Shiba Inu Concerns surrounding Shiro Neko were already present within the SHIB community. Last month, Susbarium, a community-driven anti-scam channel, cautioned about Shiro Neko. In October, Shiro Neko burned 5.58 billion SHIB in a single transaction and sought a partnership with Shiba Inu. Following the burn, the Shiro Neko team publicly inquired about forming a friendly relationship with the Shiba Inu ecosystem. Susbarium advised community members to remain vigilant, emphasizing that new projects using SHIB burns as promotional tactics should be cautiously approached. Although Shiro Neko was not directly labelled a scam, a warning was issued to encourage thorough research before investing. Dual-Staking Initiative Fuels Legitimacy Debate Despite earlier warnings, Shiba Inu’s partnership with Shiro Neko for the dual-staking initiative has reignited concerns. Discussions continue within the community about Shiro Neko’s authenticity, underscoring the importance of due diligence in cryptocurrency investments.
Shiba Inu Price Surge: Whale Activity and Market Trends Examined
The recent price surge of Shiba Inu (SHIB) has brought renewed attention to the meme-inspired cryptocurrency. The coin’s value appreciated by over 80% within a week in October 2023, sparking widespread speculation about its future. This sudden rise has been linked to whale activity, which offers insights into the current market dynamics and potential price movements. Whale Activity in Shiba Inu Shows Signs of Caution Recent data has shown a decline in Shiba Inu’s whale activity. Metrics from IntoTheBlock reveal that large inflows into wallets holding at least 0.1% of the total SHIB supply dropped to 1.51 trillion SHIB in a single day. Similarly, outflows decreased to 1.3 trillion SHIB during the same period. Read Also: Ripple Balances Testing and Regulation in RLUSD Stablecoin Push This reduced activity suggests that large holders refrain from significantly buying or selling despite the recent price rally. This cautious behaviour reflects market uncertainty and a preference to wait for more precise signals. Transaction Volume Highlights Declining Confidence Shiba Inu’s transaction volume has slowed considerably after reaching recent peaks. Daily transactions worth $100,000 or more have fallen by about one-third, with the total volume reaching $84.22 million. While this figure remains high compared to pre-surge levels, the decline indicates reduced trading among whales. This trend suggests that major investors are cautious while gauging the market’s stability following SHIB’s price rally. Market Consolidation or Potential Retreat? The current data points to a consolidation phase for Shiba Inu rather than an aggressive trading environment. Net positive flows suggest that more SHIB tokens are being accumulated than sold. However, this accumulation phase could shift if whales decide to liquidate their holdings. The cautious behaviour among large holders raises questions about whether this consolidation is a sign of market health or a precursor to potential price declines. Community Sentiment Plays a Vital Role in Shiba Inu’s Future The Shiba Inu community remains optimistic but cautious as prices continue to fluctuate. Social media discussions indicate a strong belief in SHIB’s potential but emphasize the need for robust fundamentals to support long-term growth. Community sentiment has historically influenced cryptocurrency market trends, making it a vital monitoring factor. Positive engagement within the SHIB ecosystem could help sustain momentum during market consolidation periods. Whale Behavior and Sentiment to Shape Shiba Inu’s Trajectory The post-surge behaviour of Shiba Inu suggests a cautious phase marked by reduced whale activity and slowing transaction volumes. While the price rally has been significant, large investors appear to wait before making major moves. The SHIB community’s cautious optimism and ongoing whale activity will likely play crucial roles in determining the token’s future. Observing these trends closely will be essential to understanding Shiba Inu’s trajectory in the ever-evolving cryptocurrency market.
Shiba Inu Supply Shrinks as Whale Burns Boost SHIB Value
The SHIB community has intensified its token burn, leading to the destruction of nearly half a billion SHIB coins. Shibburn, a prominent tracking platform, reported a massive 1,837% increase in SHIB burn rates, amounting to 463,450,468 SHIB burned. This rise in burn activity coincided with a 24% price jump for SHIB, taking its value to $0.00002753. Major Burn Transactions Led by a Mysterious Whale Within the past day, seven significant burn transactions played a pivotal role in reducing the SHIB supply. Notably, a mysterious whale took center stage, conducting the largest burn of 412,144,084 SHIB. Furthermore, other substantial transactions included burns of 46,754,762; 3,000,000; and 1,240,000 SHIB, which were sent to unspendable blockchain addresses. Lucie, a Shiba Inu marketing expert, recently voiced her support for decentralized finance (DeFi) on social media platform X. Lucie emphasized DeFi’s core purpose—allowing users to maintain full control over their assets through self-custody, removing the need for centralized intermediaries. She warned that centralized exchanges expose users to potential threats, such as data breaches, surveillance, and manipulation, as they control the users’ wallets and assets. Push for Blockchain-Based Crypto Purchases Lucie further suggested that instead of relying on centralized exchanges, platforms should focus on developing ways to buy crypto directly on the blockchain using fiat currency. She argued this method would be safer, faster, and cheaper, helping users avoid the risks associated with third-party oversight. Moreover, Lucie stressed that decentralized purchasing options protect user privacy and keep their assets under their own control. To Lucie, the primary goal of DeFi is to enable private and secure crypto transactions that uphold the foundational principles of blockchain. She urged platforms to stay true to these values, warning that they could undermine the freedoms blockchain technology aims to safeguard if they fail to do so.
Massive 200 Billion SHIB Acquisition: Is Gemini Positioning for a Market Shift?
In a major move, Gemini has added 200 billion Shiba Inu (SHIB) tokens, worth about $3.39 million, to a new multisignature custody wallet. This new wallet, created just 18 days ago, has rapidly amassed a variety of altcoins, highlighting Gemini’s strategic positioning in the altcoin space. In addition to SHIB, the wallet holds significant amounts of other assets like Ethereum (ETH), Chainlink (LINK), and PEPE tokens, showing Gemini’s commitment to building a diversified portfolio for its clients. Altcoin Holdings in Gemini’s New Wallet The new Gemini wallet, labeled “0xc96,” holds 42,000 ETH, valued at approximately $103.8 million. This substantial holding in Ethereum further underscores Gemini’s emphasis on established cryptocurrencies alongside its recent acquisition of meme-inspired tokens. Alongside ETH, the wallet contains 350,000 LINK tokens, worth $3.77 million, and an impressive 400 billion PEPE tokens valued at around $3.29 million. These assets, stored in a single wallet, demonstrate Gemini’s robust custodial services and its active interest in maintaining a broad range of crypto assets. Increased Institutional Interest in Shiba Inu (SHIB) The acquisition of 200 billion SHIB tokens signals rising institutional interest in Shiba Inu. Initially launched as a playful alternative to Dogecoin (DOGE), SHIB has evolved into a significant community-driven project. With a loyal following and increasing adoption in the crypto community, SHIB appeals to both new and existing investors. By securing such a large quantity of SHIB, Gemini has shown confidence in SHIB’s potential, potentially making it more attractive for other institutional players. Gemini’s Commitment to Custodial Services Founded by the Winklevoss brothers in 2014, Gemini remains a major force in the cryptocurrency world. The exchange currently manages assets worth $6.05 billion and sees an average daily trading volume of $53.98 million. By consolidating millions of dollars in altcoins into its new wallet, Gemini appears to be strengthening its custodial offerings. This move aims to secure popular assets and provide investors with the assurance of Gemini’s advanced custodial infrastructure. Read Also: Dogecoin Signals Bull Run with Key Support: Price Target Revealed! Gemini’s decision to actively accumulate altcoins, including 200 billion SHIB, highlights its strategic commitment to expanding its altcoin custody services. By aligning with community-focused projects like SHIB, Gemini not only supports emerging crypto assets but also attracts a broader audience of investors. This active accumulation of assets indicates Gemini’s long-term vision for growth and its role in providing secure, diversified investment options for the future.
