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Shibburn Explodes by 499,416%, Placing SHIB on Verge of BreakoutSHIB dwells around the $0.000008 support area as Shibburn goes parabolic. Shiba Inu’s official cryptocurrency burning tracker, Shibburn, reported an unforeseen surge in SHIB burning over the last 24 hours. A whopping 264,204,009 SHIB tokens were set ablaze, totaling $2,245 in 13 transactions to dead on-chain wallets. Five hours ago, one Good Samaritan burned 261,408,966 tokens in a single transaction; the SHIB community praised the move on X (Formerly Twitter). The price roller coaster for Shiba Inu escalates with the canine coin sustaining the $0.000008 key support line for five days in a row.  As most altcoins face a slight market correction this Monday afternoon, SHIB picked up 1.3% gains in the last 24 hours and now trades at $0.00000846, according to independent price aggregator CoinGecko. SHIB Monthly Upswing Bolstered by Shibarium Besides the burn count, another significant reason for SHIB’s 8.6% monthly increase is Shibarium. The Layer-2 scaling network solution shows high demand for usage in several key metrics: crypto wallet addresses, total transactions, and average block production time.  Currently, Shibarium L2 encompasses over 1.2 million cryptocurrency wallets, while the transaction count recently hit 4,206,686, according to the on-chain signals provided by blockchain explorer ShibariumScan.io. Shibarium’s average block production time has increased from five seconds to 8.3 seconds, and it currently has 1.83 million on-chain blocks in creation. Notably, this slightly prolonged block production time is concurrent with the increased developer activity on the network Why This Matters Cryptocurrency burning is an efficient way of maintaining the coin’s long-term price. Layer-2 blockchains offer builders a wide range of scaling options, while memecoins can expedite this innovation through mass appeal.
COINBASE:SHIBUSDLong
by DEXWireNews
SHIB Burn Rate Plunges 40% Amid Shiba Inu Price SurgeShiba Inu is once again gaining significant traction in the world of cryptocurrencies as its price surged today amid a declining burn rate. Shiba Inu, an Ethereum-based altcoin, amassed noteworthy attention in the world of cryptocurrencies as it recently witnessed a price jump amid a decrease in the burning of tokens. Shibburn, a platform offering SHIB burn insights, recently unveiled data showcasing the plunge in the burning of SHIB tokens. Moreover, Shibarium, a layer two blockchain for Shiba Inu, also witnessed a significant boost in testnet activities, stirring up speculations among crypto market traders and investors. Shiba Inu Burn Rate Amid Testnet Activity As of writing, the data offered by Shibburn showcased a 34.89% decrease in Shiba Inu’s burn rate over the past twenty-four hours. Besides, the total number of tokens burnt over the past twenty-four hours totaled 5.94 million. Interestingly, amid the constant burning of SHIB, the burn rate over the past week also experienced a fall of 43.33%. A total of 130.90 million SHIB was burnt over the past seven days. The Shiba Inu crypto community created a buzz in the world of cryptocurrencies following the massive burning of SHIB tokens over the past few days. In a series of transactions, the Shiba community appears to have burnt a whopping 410.662 trillion SHIB tokens to date. The abovementioned burning of tokens comes forth as a result of the Shiba community building up support for their token. Despite the Shiba community’s efforts, the SHIB price did not gain much momentum in 23, following which the community initiated burning colossal amounts of tokens. Furthermore, the Shibarium testnet activity also skyrocketed over the past few days. As per the data revealed by a blockchain explorer, not a single transaction was carried out on the Shibarium testnet in recent weeks. However, since November 9, a whopping 400,000 transactions occurred, gaining attention throughout crypto markets. Shiba Inu Price Report At the time of writing, the Shiba Inu price witnessed a surge of 1.27% over the past twenty-four hours, evaluating $0.000008329 today, November 25. However, the token witnessed a marginal fall of 3.28% over the past week. Furthermore, the twenty-four-hour trading volume witnessed a significant increase of 17.63%, reaching $119.77 million while writing. The price surge witnessed by SHIB over the past month evaluated 12.25%, lining up with the community’s efforts to jack up the SHIB tokenomics. As the Shiba community continues to burn massive amounts of tokens, the scarcity of the token continues to surge, which might push the token for a better future outlook within broader crypto markets.
COINBASE:SHIBUSDLong
by DEXWireNews
Shiba Inu (SHIB) On-Chain Surge Hits 500% in Amazing 2-Day RallyShiba Inu (SHIB) has experienced remarkable 500% surge in on-chain transactions in just two days, sparking speculation about token's future trajectory. In a seismic shift within the Shiba Inu (SHIB) ecosystem, the past 48 hours have seen an unparalleled surge in on-chain dynamics, as whale transactions involving the token skyrocketed by an astonishing 498%. Shiba Inu, a popular token in the crypto sphere, is making waves with a surge in transactions valued at $100,000 and more, according to on-chain analytics platform IntoTheBlock. During this whirlwind period, whale transactions injected a whopping $40.93 million into SHIB, exchanging an epic 5.1 trillion tokens. This surge has pushed the total daily transactions to an astonishing 6.38 trillion tokens, equivalent to a staggering $51.71 million. This surge in on-chain activity coincided with a noteworthy price rebound for SHIB. After a brief setback where the token experienced an 8.2% loss on Tuesday, it rallied impressively, gaining 6% over the next two days. This resurgence brought SHIB's value back above the critical threshold of $0.000008 per token, reigniting optimism among the Shiba Inu community. We are now closely watching whether this rally in on-chain transactions is a precursor to sustained positive momentum for SHIB. The main questions looming are whether the token's price recovery will persist and if it can fully recover from the losses incurred on Tuesday. The surge in whale transactions suggests renewed interest in SHIB, prompting speculation about potential future developments and positive market sentiment. The next few days are poised to be crucial in determining whether Shiba Inu's newfound momentum is a temporary phenomenon or the beginning of a sustained bullish trend.
COINBASE:SHIBUSDLong
by DEXWireNews
$SHIB - Up or down? Bias leans up.This chart is a tossup for me. However, I lean bullish here. To me, it looks like CRYPTOCAP:SHIB has 1 more leg higher to go before turning bearish over the short term. As you can see on the chart, price has held that bullish trend line. RSI is completely bottomed out on lower timeframes which to me indicates a move higher needs to happen before price can fall lower here. I lean towards a move higher to that $.00001074 area to mark off a high on the short term. The bearish scenario would be a break of the trendline and then falling to that lower support area. After that region gets tapped, then I think the higher target will play out. Let's see what happens.
COINBASE:SHIBUSDLong
by benjihyam
SHIB Pennant IncomingOn the journey to a complete W pattern at the $0.000015 price tag there will be a few, if not more, periods of consolidation. After a hot run up to the 0.00000970 range, Shiba Inu is beginning to consolidate into what may be a week long, or slightly longer, pennant formation. Buying opportunities may present themselves around the Fib Retracement Levels with a potential bottom near the 38.2% level. A breakout from the projected pennant could take Shib's value to the 1W (1 week) 38.2% Fib Retracement Level with the 1W 50% level being the next stop if this ceiling is blown through with significant volume. However, more consolidation should be expected in my opinion. As always, a breakdown is also possible which could hemorrhage Shib's value to prior lows. At the time of this article I am still confident on a pending completion of the W pattern (see my other idea linked at the bottom) but macroeconomic factors can accelerate or derail this formation. Stop-losses should be utilized and traders should be cognizant of any significant changes in the climate of the market. COINBASE:SHIBUSD
COINBASE:SHIBUSDLong
by Shepherd_Investor
Shiba Inu (SHIB) Poised For Greatness Shiba Inu (SHIB) are indicating an upward trend, signaling a breakout rally. Following a successful retest of the $0.000080 support level, Shiba Inu has seen an increase of over 15% in the past 24 hours. The memecoin needs to surpass and maintain a level above $0.0000093. At the time of writing, SHIB is trading at $0.0000092, recording a 10.23% increase in the past 24 hours. The lowest and highest price levels during this period were $0.00000815 and $0.0000095, respectively. The trading volume of the memecoin also experienced an 81% increase in the past 24 hours.
COINBASE:SHIBUSDLong
by DEXWireNews
Bullish on Shib!Stuck between supply and demand areas. IMO shib is basing nicely here in a possible reversing pattern ( ascending triangle ) holding the 21 day MA currently. Price still needs to close above and hold 00000750 to continue to the upside. Personally I have been accumulating at these levels. I hope my chart is easy to understand. I would appreciate any feedback. This is not financial advice please do your own research. I believe october is going to be a great month. My bearish thoughts are we sharply dip into the demand zone with a wick. that is if you think getting more at a discount bearish. lol
COINBASE:SHIBUSDLong
by biggmitch
1
Shiba Inu (SHIB) Promising Setup for a Bullish Price BreakoutShiba Inu (SHIB) is poised for a potential surge as bulls gear up to overcome a crucial resistance barrier. While Shiba Inu (SHIB) is currently trading at $0.000008201, down 1.24% in 24 hours, it stands in a relatively favorable position, as it is up 4.92% in the past seven days and 13.66% in the past month. SHIB is still trading below its peak price for the year. It soared above $0.000015 back in February. After that, SHIB saw a dip to $0.000006555 in mid-June. Notably, this price level played a vital role as a crucial support level, causing a rebound. Shiba Inu (SHIB) Headed for $0.00001? Following this rebound, SHIB encountered significant resistance at the $0.000008 mark. A breakout eventually occurred in August, pushing the price to $0.00001071. This breakout came with the excitement surrounding the relaunch of Shibarium by the Shiba Inu team. However, an issue in the performance of the layer-2 scaling solution led to a selloff, causing SHIB to revisit the mid-June low of $0.000006555 on October 19. If historical patterns repeat themselves, there’s potential for the bulls in the market to erase another zero, pushing SHIB to $0.00001. Now that SHIB has successfully overcome the $0.000008 resistance zone, the possibility of a breakout candle could strengthen the bullish sentiment in the market. Hope for Shiba Inu (SHIB) Growth The Shiba Inu community maintains an optimistic outlook for the token, particularly concerning retesting the $0.00001 level, which is already a short-term target. Shibarium also presents a promising avenue to stimulate demand and work towards achieving the $0.1 price target. Supporters believe that reaching this milestone will depend on a combination of internal and external factors, including the potential approval of a Bitcoin spot ETF in the United States. Shiba Inu is at a critical juncture, with the potential for a bullish breakout. The historical context, along with recent developments, paints a good picture, driving optimism in the Shiba Inu community.
COINBASE:SHIBUSDLong
by DEXWireNews
6
Shiba Inu at Crossroads: What is the Future of the Memecoin? Shiba Inu (SHIB) and other meme coins embarked on a rollercoaster ride in October. The crypto market saw SHIB’s value surge significantly as Bitcoin hit a new milestone at $35,000 before retracing to $34,000. This surge ignited a sense of urgency among investors, leading them to secure their positions in anticipation of the bull run swiftly. However, as November unfolds, the pivotal question looming over the market is whether these gains can maintain momentum. Shiba Inu Recent Price Movement Shiba Inu came close to initiating a fresh recovery phase, aiming to break through the $0.000008 resistance level. However, profit-taking and a potential lack of buyers resulted in a minor pullback. SHIB currently trades at $0.00000779, reflecting a 2.3% dip in the past 24 hours and a 1.1% loss over the last seven days. The meme coin market is known for its rapid and unpredictable price fluctuations. Meanwhile, large volume holders, often called “whales,” have made significant moves in the SHIB market this week. Whale Alert reported a transfer of SHIB tokens worth about $35 million from an unknown wallet to another undisclosed destination. Are the Whales Making Waves? In another development, approximately 4.46 trillion SHIB tokens ($33.9 million) were transferred from the Bitvavo exchange to an unknown wallet. Investors are now pondering the potential price impact of these whale movements. While it’s challenging to predict how these transfers will influence the market, they add an element of intrigue to Shiba Inu’s future. Whale activity can sometimes lead to increased market volatility, so it’s wise to monitor SHIB’s performance closely. Furthermore, well-known trader and analyst Rekt Capital suggests that the bear market is a distant memory, and a full-fledged BTC bull market is on the horizon. This optimism could provide momentum for meme coins like Shiba Inu. Shiba Inu’s remarkable journey in October, along with the broader meme coin movement, has garnered global investor attention. While the meme coin market is characterised by its inherent volatility, it continues to be an exciting space for those seeking high-risk, high-reward opportunities.
COINBASE:SHIBUSDLong
by DEXWireNews
2
Surfing the Waves of Shiba Inu's ConsolidationShiba Inu is currently undergoing a consolidation pattern that is approaching a descent to the 50% retracement line with an approximate $0.00000745 price target. This greets the support line of what may be a several week long symmetrical pennant and an opportunity for a short-term trade that garners notable profits. Significant buy back at this level will most likely cause the asset to retrace back to the 78.6% Fibonacci level ($0.00000790). Significant resistance at this level will most likely result in a support touch at 61.8% ($0.00000763) before returning to a resistance range around $0.00000780. This completes the M pattern and places us several days from a potential breakout or breakdown around the second week of November. With a total increase in value of +24.65% during this uptrend, a high volume breakout can take Shiba Inu's price to 0.00000927 while a high volume breakdown can diminish its value to 0.00000599. COINBASE:SHIBUSD
COINBASE:SHIBUSD
by Shepherd_Investor