Shiba Inu on Edge: Can It Survive Below 67 Trillion SHIB Level?
Shiba Inu (SHIB) faces a critical moment as on-chain data highlights significant risks to the token’s future. The 67 trillion SHIB support level, closely tied to high transaction volumes and market stability, appears increasingly fragile amid a bearish market. Struggling Below Key Support Levels SHIB has failed to maintain crucial support levels on the daily chart. The token recently dropped below its 50 EMA, a key indicator of market strength, and now trades near $0.0000222. The 200 EMA, typically the last line of defense for bullish momentum, is dangerously close. Source: CoinMarketCap If SHIB loses this level, the price could tumble further, targeting $0.0000204 or even lower. This threatens to erase most of the gains from its prior bullish rally. On-chain metrics paint a concerning picture. Related article: Shiba Inu Battles Resistance: Will It Break Through $0.000027? Large transaction volumes have sharply declined, indicating reduced interest from whales and institutional investors. Profitability metrics also show that most SHIB holders are currently at a loss, further contributing to bearish sentiment. Risks of Panic Selling Breaking important support levels could trigger panic selling, potentially creating a cascading effect. As selling pressure mounts, the 67 trillion SHIB level may vanish, adding to the asset’s downward spiral. This level not only represents a psychological threshold but also serves as a crucial technical indicator for market stability. Related article: Shiba Inu Profitability Drops: What It Means for the Future Despite the bearish outlook, SHIB still has a chance to recover. If the token bounces off the 200 EMA and enters oversold territory on indicators like the RSI, speculative buying could drive a recovery. In such a scenario, the 50 EMA at $0.0000250 and the psychological barrier at $0.0000300 would become immediate resistance levels to watch. Investors should monitor SHIB’s volume and key support zones closely. A stable recovery at these lower levels could attract new buyers, providing hope for a turnaround. However, the risk of further losses remains high if selling pressure persists.
Shiba Inu Battles Resistance: Will It Break Through $0.000027?
Shiba Inu (SHIB) continues to face hurdles in sustaining an upward trend, as Bitcoin’s price stagnates below the critical $100,000 mark. Currently, SHIB is trading at $0.00002172, reflecting a 1.39% decline over the last 24 hours, according to CoinMarketCap. Recent data highlights contrasting trends within the Shiba Inu ecosystem. Trading volume dropped sharply by 21.39%, while the burn rate surged by an impressive 404% overnight. This volatility underscores the uncertainty surrounding SHIB’s short-term prospects. Key Sell Wall at $0.000027 A significant sell wall looms over SHIB, posing a critical challenge to its price momentum. Data from IntoTheBlock reveals that approximately 73.96 trillion SHIB faces resistance near the $0.000027 price level. Meanwhile, SHIB struggles to surpass the smaller $0.000023 mark, where 36,810 addresses collectively acquired 56.62 trillion SHIB. Source: IntoTheBlock These holdings could trigger massive sell-offs if prices rise to this level, further complicating SHIB’s recovery. Investors must resist the urge to liquidate during ongoing market uncertainty for SHIB to maintain its growth. Related article: Shiba Inu Profitability Drops: What It Means for the Future If sellers remain cautious, SHIB could push past the $0.000027 resistance. However, breaking through this level remains a formidable challenge that could stall the token’s upward momentum. Role of Whales in Sustaining Growth Shiba Inu’s future trajectory heavily depends on Bitcoin’s price action. If Bitcoin attempts to surpass its all-time high of $108,000, the resulting market enthusiasm could catalyze a bullish rally for SHIB. Despite a slowdown in large transaction activities, SHIB whales have played a crucial role in maintaining the token’s momentum. Related article: Shiba Inu Burns 131.2 Million Tokens, But What’s the Real Impact? Over the past week, the number of active SHIB whales has increased, showcasing their confidence in the token. Shiba Inu’s low price continues to attract investors seeking long-term opportunities. If the broader SHIB community and the 213 addresses holding at the $0.000027 level refrain from selling, the token could potentially reach $0.00003 in the near future. With disciplined investor behavior, SHIB could overcome current obstacles and reclaim its upward trajectory.
Shiba Inu Profitability Drops: What It Means for the Future
Recent on-chain data reveals a tough period for Shiba Inu (SHIB) investors, with 43% of holders currently at a loss. Only 53% of SHIB investors enjoy profitability, highlighting challenges in the asset’s market trajectory. Profitability metrics, a key reflection of market health, point to growing concerns over SHIB’s performance. Decline in Large Transactions Signals Weak Momentum Large transactions involving SHIB have dropped by 60.9% in the past week, signaling reduced activity from whales and institutions. This decline significantly affects bullish momentum, as these players typically drive major price surges. Without their involvement, SHIB’s potential for recovery faces additional hurdles. Source: CoinMarketCap Major players control 73% of SHIB’s total supply, leaving the asset prone to sharp price swings. Currently, SHIB trades near the 100-day Exponential Moving Average (EMA), a critical support level. Related article: Shiba Inu Burns 131.2 Million Tokens, But What’s the Real Impact? A breach of this level could trigger further losses, potentially testing the 200 EMA. On the upside, resistance at $0.000023 remains key. Breaking this resistance might spark bullish sentiment, though current market conditions suggest this is unlikely in the near term. Slowing Network Growth Raises Concerns SHIB’s network growth shows troubling signs, with fewer new wallet activations. This indicates declining interest from new investors, a crucial factor for sustaining momentum in speculative markets. Additionally, community engagement on platforms like Telegram has slightly dropped, reflecting waning enthusiasm among supporters. Related article: Massive Transfer of 400 Billion SHIB from Early Whale Shocks Major US Exchange SHIB needs a shift in market sentiment to regain stability. Increased whale activity, stronger network growth, or a decisive break above resistance levels could help reverse its fortunes. For now, cautious optimism may be the best approach for SHIB holders. Investors should closely monitor the $0.000020 and $0.000023 price zones, as these levels could shape SHIB’s near-term outlook.
Shiba Inu Burns 131.2 Million Tokens, But What’s the Real Impact?
The SHIB community has successfully burned 131.2 million Shiba Inu (SHIB) tokens, according to data from the Shibburn tracking platform. This effort aimed to reduce the token’s circulating supply. However, the burn coincided with a 10% drop in SHIB’s market price, raising concerns about its overall impact. Despite the large token removal, the weekly burn rate declined by 67.29%, as revealed in a recent tweet. Daily Burn Rate Shows Improvement On a more positive note, the daily SHIB burn rate surged by 69.28%, but the total amount burned was significantly smaller. Only 6,181,175 SHIB tokens were sent to a dead-end wallet through eight burn transactions. The largest burns included 2,874,467, 1,701,750, 1,463,776, and 1,000,000 SHIB tokens, showcasing active community efforts to limit supply. Since its inception, the SHIB community has transferred a total of 410.7 trillion SHIB tokens to unspendable wallets. Related article: Shiba Inu Whale Sells 250 Billion SHIB Worth $6.05 Million Meanwhile, 584.1 trillion SHIB remain in circulation on the cryptocurrency market. These figures highlight the ongoing attempt to control the token’s supply and, by extension, its market value. Early Whale Sells Massive SHIB Holdings An early SHIB investor, who initially purchased over 15 trillion SHIB four years ago, recently sold two substantial batches totaling 650 billion SHIB. The larger transaction involved 400 billion SHIB, valued at $9.69 million, which was sent to the Gemini crypto exchange. The smaller batch of 250 billion SHIB was also sold, but its destination remains unknown. After these sales, the whale’s SHIB holdings have dropped to approximately 2 trillion SHIB, worth about $48.54 million. Related article: Analysts Identify Bullish Potential for Shiba Inu (SHIB) to Surge to $0.000070 SHIB’s price dropped by 10% in the past 24 hours, falling from $0.00002617 to $0.00002338. However, it has since recovered by 4.27%, trading at $0.00002440. This decline followed the broader cryptocurrency market’s reaction to Bitcoin’s sudden plunge. Bitcoin’s drop below $100,000 occurred after Federal Reserve Chair Jerome Powell announced a smaller-than-expected interest rate cut of 25 basis points instead of the anticipated 100 basis points. This shift triggered a ripple effect across the entire crypto market, affecting tokens like SHIB. While the SHIB community’s efforts to reduce token supply remain active, the impact on price appears mixed. The massive whale sales and broader market trends, including Bitcoin’s decline, have added to the uncertainty surrounding SHIB’s future price movements. The SHIB community’s ability to maintain a steady burn rate and limit major sell-offs could play a critical role in shaping the token’s long-term value.
Massive Transfer of 400 Billion SHIB from Early Whale Shocks Major US Exchange
Recent reports from analytics platform @Spotonchain revealed that two huge Shiba Inu (SHIB) transactions were carried out earlier today. This comes as the price of SHIB, the second-largest meme cryptocurrency by market capitalization, has seen a 10% decline. The drop in SHIB’s price follows a recent bearish trend in Bitcoin caused by statements from the Federal Reserve and the resulting disappointment among cryptocurrency holders. 400 Billion SHIB Moved to Gemini by Early Whale On-chain data indicates that a significant SHIB holder, who has made a considerable profit on their SHIB investment, moved 399.99 billion SHIB to the US-based exchange Gemini. This large sum of SHIB would be worth just under $10 million if liquidated. The whale originally acquired the massive amount of SHIB on August 7, 2020, purchasing 15.2 trillion SHIB for only 10 ETH. Related Article: Shiba Inu Whale Sells 250 Billion SHIB Worth $6.05 Million Currently, this early investor holds 2 trillion SHIB, valued at approximately $48.54 million. This results in a total profit of around $107.7 million, reflecting a 3.7x return on the original SHIB investment four years ago. Whales Liquidating SHIB as Price Declines Further analysis shows that SHIB whales have been moving large portions, if not all, of their SHIB holdings to exchanges as the price of SHIB has dipped. The coin’s price fell by about 10% in the last 24 hours, dropping from $0.00002618 to $0.00002345. However, a slight recovery has been observed, with SHIB gaining 2.64% in value. Over the last ten days, SHIB has experienced a loss of over 21%, plummeting from $0.00003076 to its current value of $0.00002409. Additional sources also point to the movement of SHIB to exchanges by whales, which has likely contributed to the recent price decrease. This decline in SHIB’s value reflects broader market trends, especially following Bitcoin’s decline of about 5%, briefly dipping below $100,000. The cryptocurrency market faced significant downturns after the Federal Reserve’s decision to lower interest rates by 25 basis points instead of the anticipated 100 basis points in 2025. Despite this, Bitcoin has partially recovered, now trading above $101,000 and nearing the $102,000 mark.
Shiba Inu Whale Sells 250 Billion SHIB Worth $6.05 Million
A major Shiba Inu (SHIB) whale recently sold 250 billion SHIB tokens, valued at $6.05 million, triggering concerns in the market. This move came as part of a broader trend of large-scale liquidations that could impact the overall sentiment of retail investors. The whale first entered the SHIB market on August 6, 2020, with an initial investment of just $3,800. This investment allowed the whale to amass an impressive 15.28 trillion SHIB tokens. At its peak, the value of these holdings surged to a staggering $1.22 billion. Over the course of this period, the whale secured a total profit of $109 million. Despite the recent liquidation, the whale retains 2.15 trillion SHIB, currently valued at around $52.18 million. Market Impact: How Whale Activity Influences Retail Sentiment Large-scale sell-offs like this one often shift retail market sentiment. Whale liquidations tend to increase volatility, especially when prices approach key support levels. Many smaller investors interpret these moves as warning signs, potentially leading to further selling pressure. Related article: Analysts Identify Bullish Potential for Shiba Inu (SHIB) to Surge to $0.000070 SHIB’s price has recently fallen below the 50-day Exponential Moving Average (EMA), a level often seen as a strong support point. This decline underscores a lack of bullish momentum and growing selling pressure. Source: CoinMarketCap SHIB’s current trading price stands at approximately $0.00002408. Analysts have identified the next crucial support levels at $0.00002283 and $0.00002045. A failure to maintain these levels could result in a more significant correction. Importance of Whale Monitoring for Price Forecasting The swift liquidation highlights the need to monitor whale activity for insights into potential price movements. Whales’ buying and selling actions can offer real-time indicators of the asset’s performance, especially in volatile markets like SHIB. Their behavior often precedes major price shifts, making it essential for both new and experienced investors to stay alert. Related article: Shiba Inu Investors on Edge: Will Support at $0.000025 Hold? While Shiba Inu continues to attract interest from DeFi enthusiasts and the meme culture community, the short-term outlook remains uncertain. The whale’s profit-taking move adds further pressure on SHIB’s price. Investors should exercise caution and keep a close watch on whale activity, as it could signal future market trends. For those looking to navigate the unpredictable market, staying informed on these large movements will be crucial to making timely investment decisions.
Shiba Inu Investors on Edge: Will Support at $0.000025 Hold?
The past week has been challenging for Shiba Inu (SHIB) holders as the meme-inspired cryptocurrency saw a sharp price decline. After an impressive 100% surge earlier in November, SHIB’s price dropped approximately 23% over the last nine days, hitting a critical support level at $0.000025 per token. Although the decline may seem alarming, it opens up potential opportunities for investors. The drop, which amounts to less than one-third of the previous rally, indicates a healthy market correction. More importantly, SHIB’s ability to maintain support at $0.000025 suggests it could be poised for a fresh upward move. Related article: SHIB Price Prediction: Analyst Forecasts 150% Rally to $0.000074 Key Support Level Holds Strong The support level at $0.000025 remains crucial for SHIB’s future price movement. Liquidity is heavily concentrated around this area, particularly following the December 10 price drop. Source: CoinMarketCap Traders and investors now view this point as a pivotal zone, with the 50-day simple moving average (SMA) lending further support at this price level. This alignment strengthens the case for a potential rebound. Bollinger Bands Signal Possible Price Movement Technical analysis reveals another key factor to watch—the Bollinger Bands indicator. According to this tool, SHIB’s price could slip to $0.00002456, where the lower band currently sits. While this would represent an additional 4.4% drop, it might not be all bad news. Related article: Shiba Inu Burn Rate Skyrockets by 319,571% – What’s Fueling the Surge? If SHIB finds a local bottom at this level, it would still form a higher low than the one recorded earlier in December. This higher low would keep the bullish bias intact, giving investors hope for an eventual recovery. While SHIB’s recent price action has caused concern among holders, there’s a silver lining. The current correction appears to be part of a healthy market cycle. If the price maintains support at $0.000025 or finds a bottom near $0.00002456, the stage could be set for a bullish resurgence. For now, investors are watching closely to see where SHIB’s next move will lead.
Analysts Identify Bullish Potential for Shiba Inu (SHIB) to Surge to $0.000070
Despite recent underwhelming price movements, analysts are highlighting Shiba Inu (SHIB) as having the potential for a significant price surge. Indicators are pointing toward the development of a bullish trend, suggesting positive momentum ahead. SHIB is currently priced at $0.00002574, reflecting a 5% decline over the past week and a modest 1.1% gain for the month. Market analyst Klejdi Cuni has drawn attention to a bullish pattern on SHIB’s TradingView chart. While SHIB has trailed other meme coins and altcoins during recent market rallies, Cuni believes the token could soon compensate for lost ground. Encouraging Trends in SHIB’s Daily Chart Cuni has observed promising signs on SHIB’s daily chart, noting that the price has been upward since a trend reversal in September. The chart shows higher highs, forming an oval pattern Cuni describes as indicative of bullish momentum. A strong support level at $0.00002424 has been identified, holding steady for over a month. Cuni suggests this stability indicates significant accumulation, which could set the stage for a breakout in the coming months. Key Price Targets Highlighted by Analysts If a breakout occurs, Cuni has outlined several key price levels for SHIB. The first target is $0.00003232, marking a 25.6% increase from the current price. The $0.00004 region, which was lost ten months ago, is considered another critical level, with a move to $0.00004167 representing a 61.6% rise. Related Article: XRP Price at a Crossroads: Can It Reclaim Bullish Momentum? The next target of $0.00005675 could yield a potential gain of 120.4%, a level last seen in 2021. Looking further ahead, Cuni’s most optimistic scenario projects SHIB reaching $0.00007012 by mid-2025. Achieving this would represent a 172.5% increase and bring the token close to its all-time high. Other Analysts Weigh In on SHIB’s Prospects Other analysts have echoed bullish sentiments about SHIB’s future. Sherif, another market expert, has expressed confidence that SHIB will surpass its all-time high of $0.00008654 during this market cycle despite its recent stagnation. Similarly, analyst CryptoELITES has predicted that SHIB could rise to $0.0004729, effectively cancelling another zero. This prediction, which equates to an 18X return for current holders, is based on a bullish cup-and-handle pattern observed on SHIB’s weekly chart. However, caution has been advised by one analyst, who warned of a potential drop to $0.000011 if the anticipated breakout fails to materialize. While multiple bullish signals have been identified, analysts emphasize the need for careful observation as SHIB’s market conditions evolve.
Shiba Inu Burn Rate Skyrockets by 319,571% – What’s Fueling the Surge?
The SHIB community has recently shown remarkable commitment to reducing the circulating supply of meme coins, with a massive surge in the SHIB burn rate. According to data from Shibburn, the burn rate has spiked by an astonishing 319,571.27%. Over the past 24 hours, a total of 35,713,674 Shiba Inu tokens were burned, permanently locking them in unspendable wallets. This significant burn activity indicates the community’s strong effort to enhance SHIB’s scarcity. Top SHIB Burns and Major Transfers Among the many burns, three large transfers stood out, each removing millions of SHIB from circulation. The biggest of these transfers included 15,546,918 SHIB, followed by 11,196,225 SHIB and 8,804,670 SHIB. The community continues efforts to reduce SHIB’s supply, aiming to boost its long-term value. Weekly burn data shows a 94.31% decline, though 138,987,010 SHIB were still burned, offering hope. Despite the drop, the community has burned a significant 138,987,010 SHIB over the past week. Related article: Shiba Inu (SHIB) Ranks High on MetaMask Despite Slowing Rally This decline contrasts with the efforts made on Monday, when an anonymous whale sent 20,035,968 SHIB to a dead wallet in a single transaction. Such moves continue to play a crucial role in reducing the overall circulating supply. SHIB’s Price Performance Amid Bitcoin’s Surge Meanwhile, Bitcoin has reached a new all-time high of $107,780, drawing attention in the crypto market. However, despite Bitcoin’s surge, SHIB’s correlation with BTC seems to have weakened. Related article: Shiba Inu Faces Mixed Signals: Rising Price but Declining Burn Rate SHIB, which had a solid recovery of over 22% last week, has since been struggling to break past the resistance at the $0.00002822 level. As of now, SHIB trades at $0.00002738, reflecting a slight 2% increase today but still following a downward trend from its recent highs. While SHIB’s price and burn activities show some volatility, the community’s dedication to reducing the token supply continues to grow, fostering hopes for future price improvements.
Shiba Inu (SHIB) Ranks High on MetaMask Despite Slowing Rally
A high level of interest in Shiba Inu (SHIB) has been observed among market participants, as confirmed by its ranking on MetaMask, even though the token’s rally has entered a consolidation phase. SHIB’s MetaMask Popularity Remains Strong It has been reported by MetaMask that Shiba Inu was among the most swapped tokens on its platform last week. Despite a 15% price decline during the same period, SHIB ranked fifth in popularity among users of the Ethereum wallet. Other tokens that made it into the top five included Pepe Unchained (PEPU), Pepe (PEPE), Baby Doge (BabyDoge), and HEX (HEX), occupying first, second, third, and fourth places, respectively. This ranking has been interpreted as a sign of sustained trader interest in SHIB. Given MetaMask’s extensive user base, which exceeds 30 million active monthly users, the token’s appearance in the top rankings carries significant weight. Furthermore, SHIB has now appeared in the MetaMask rankings for three consecutive weeks, reinforcing its relevance among traders. Related Article: XRP Market Shaker: Massive Whale Movement Sparks Buzz SHIB’s Rally Stalls After Election Surge Shiba Inu’s rally, which began after the U.S. election, saw its price increase by over 98%, climbing from $0.00001687 to a high of $0.00003343. However, the upward momentum has slowed, with the token’s price consolidating around $0.00002689 at the time of writing. Last week, the price opened at $0.00003219 but declined by more than 15%, closing at $0.00002788. Despite the downturn, the sustained interest indicated by MetaMask data suggests that investors remain engaged with SHIB as a potential high-return opportunity. Potential for High Returns or Further Decline? SHIB’s recent activity has sparked speculation about its future trajectory. While the token’s 98% rally in November was impressive, it underperformed compared to Dogecoin (DOGE), which surged by 220% during the same period. This disparity has led some to believe that SHIB may hold untapped bullish potential. An analyst has suggested that SHIB is currently at a critical juncture, testing the resistance levels of a long-term downtrend. A decisive move above or below this resistance could determine whether the token experiences a 150% rally or further declines. Outlook for SHIB Amid Uncertainty While Shiba Inu’s immediate price action remains uncertain, its consistent ranking on MetaMask and active trading interest highlight its potential in the cryptocurrency market. The sustained enthusiasm among traders suggests that SHIB could either capitalize on its bullish potential or face further challenges, depending on market conditions and technical factors.
