According to a study by IntoTheBlock, 22% of Shiba Inu (SHIB) holders are in profit at the moment. A whopping 77%, or 4 in 5 SHIB holders, are facing losses, while only 1% have broken even.
The data also shed light on the holding time of the Shiba Inu tokens. According to IntoTheBlock, 63% of holders purchased SHIB in the last 12 months. Shiba Inu has been falling after it attained its ATH (all-time high) in October of 2021, one year ago. Hence it is not surprising that most of the holders are at a loss.
However, most of the circulating SHIB supply, around 81% of it, is in the hands of a few. And these whales are still in the money. Nonetheless, they could tank SHIB’s price if there was a sell-off.
Will Shiba Inu rise anytime soon?
The broader crypto markets breathed a sigh of relief this morning as most major tokens witnessed a much-needed spike. Bitcoin (BTC) crossed the $20k barrier, while Ethereum (ETH) turned out to be one of the biggest gainers with a 10% surge. Shiba Inu too surged by 4.2% in the last 24 hours.
Nonetheless, the markets are still bearish. For a proper bull rally, the general market would need to change direction. Moreover, the global economic slump has further weighed down on crypto.
However, Shiba Inu has a host of launches planned for this year, which have the potential to raise the token from its slumber. The Shibarium layer-2 network is one of the most anticipated launches of the year. With it, many expect SHIB prices to rally upwards. Moreover, layer 2 might have its own burn mechanism, which would further help in pushing SHIB prices. Moreover, SHIB has enjoyed a plethora of listings this year. Just yesterday, the token was listed in the US branch of Bitstamp.
At press time, Shiba Inu (SHIB) was trading at $0.00001042, up by 2.4% in the last week.
Since its debut, one of the most eye-catching elements of the blockchain economy has been the abundance of investment options it gives users. More than 100 million people use crypto daily, and the number of people who invest in the sector is growing. There are already over 18,000 currencies available on the cryptocurrency market, giving users a wide variety of blockchain options. Big Eyes Coin (BIG), a relatively new cryptocurrency, is making waves in the market as a ground breaking project focusing on advancing the DeFi industry and safeguarding the marine habitat. As such, the BIG token is the primary means of exchange in the cryptocurrency markets. Meanwhile, Dogecoin (DOGE) and Shiba Inu (SHIB) are steadily but unquestionably dominating the
Litecoin price has taken the market by a stunning surprise as the bulls have taken complete control of the trend prompting a 7% rally. The move was catalyzed by a classic retest and all signals from the 21-day simple moving average. Litecoin price currently auctions at $56 as the bulls have successfully taken out the October high. Now the only question is when will the uptrend pull back?
Analysts at crypto intelligence tracker Glassnode argue that Bitcoin’s volatility has hit historical lows and a breakout in BTC is likely. Evaluating both the bullish and bearish scenario for Bitcoin price, analysts noted a conviction among BTC holders in the bear market.
Shiba Inu’s burn rate has climbed 1,494% – a significant increase over the past 24 hours. Based on data from the portal that tracks Shiba Inu’s burn implementation and statistics, Shibburn, the pace of SHIB token destruction has picked up. Normally a bullish factor, the exponential increase in the burn rate is a reaction to SHIB price’s recent weakness, and holders are hopeful it will have a reversal effect.
The Shiba Inu (SHIB) community has been burning tokens for a while now. This burn is in an effort to reduce the supply of the meme coin, thereby increasing its value. There have been times where the burn has not been as high as expected but the community has been increasing its efforts to burn SHIB. This has led to a significant increase in the amount of SHIB being burned in the last week which could trigger some positive price movements.
Shiba Inu BurnSpikes Massively
Over the last 24 hours, there has been a massive rise in the amount of SHIB tokens being burned. Data from Shibburn on Twitter shows that there was approximately 23.3 million SHIB that were burned in the 24-hour period. Compared to the previous day, it is a more than 1,800% rise.
The tokens were burned across six different transactions, with a single wallet burning the majority of tokens. This wallet burned 19.2 billion SHIB in one transaction. But the total turn rate has plateaued since then as there have not been any more signifiant burns.
Presently, there have been 410.4 trillion SHIB that’s been burned. This figure also includes the amount that was burned by Ethereum founder Vitalik Buterin when about half of the total Shiba Inu supply was sent to his wallet. While approximately 30 trillion SHIB are currently staked.
The rise in the SHIB burn rate is significant but it is only so compared to the amount that was burned the previous day. When put into dollar figures, it is not so significant, neither is it so compared to the circulating supply of the meme coin.
The Shiba Inu burn has not really had much of an effect on the price of the digital asset since the Buterin burn and this continues to be the case with so little supply being burned. So while a 1,800% increase in burn rate may be impressive, it is still not enough to impact the price.
This is apparent given that the digital asset has not been able to knock off a zero off its price. It lost its hold on $0.00001 last week and has been unable to reclaim it. There are still sell-offs happening in the market to minimize losses and SHIB is not left out.
For a significant spike in the price of SHIB to occur, there would need to be more demand for the digital asset as well as more of the supply being taken out of circulation. However, this seems unlikely as momentum all across the crypto market remains low.
Featured image from Coinmarketcap, chart from TradingView.com
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Shiba Inu SHIB/USD is trading higher by some 3.65% to $0.00001037 during Tuesday’s trading session. Shares of several altcoins are trading higher in sympathy with apex cryptocurrency Bitcoin BTC/USD and second-largest market cap crypto Ethereum ETH/USD and U.S. equities. Major indices are higher as investors react to quarterly earnings reports from U.S. companies and assess the possibility of future Federal Reserve policy changes.
What Happened?
New economic statistics show a drop in consumer confidence in the United States, indicating that purchasers may reduce spending amid recessionary worries and aggressive interest rate increases.
The world’s largest digital currency by market capitalization Bitcoin BTC/USD crossed the psychologically important level of $20,000 Tuesday after concluding its longest stretch below that level since the token first crossed it in late 2020.
Bitcoin was trading up by around 4% to $20,185 on Tuesday.
For over three weeks, the token has traded below $20,000, deviating from the coin’s usual volatility…Read More
Shiba Inu is one of the most famous meme coins in the crypto space but while it has struggled to make any gains in 2022, crypto analytics platform Dash 2 Trade is expected to make significant gains – and secured almost $2 million in just three days after its presale went live.
Amid an ongoing bear market and SHIB unable to maintain any momentum, smart investors are turning to new crypto presale projects to maximize their returns.
SHIB Price Prediction: More Pain Ahead
Shiba Inu enjoyed exponential growth in 2021 but has struggled throughout 2022, where it is currently trading 70% down from January and a massive 87% down from its all-time high.
While the project has added utility, including gaming projects and a layer 2 solution, the announcements have done little to affect price.
With unfavorable macroeconomic conditions and Bitcoin forecast to drop even further, SHIB is predicted to bleed even more.
Just like early SHIB investors saw the most gains, investors in presale projects have continued to make strong returns in 2022.
Dash 2 Trade Presale Secures Nearly $2 Million in Three Days
The Dash 2 Trade presale went live on October 20 with 35 million tokens available for $0.0467 each.
Investors rushed to buy into the project with the phase 1 cap of $1.7 million reached in just three days given its low entry point and high returns potential as one of the best ICOs of 2022.
The crypto signals project, which will send out trading alerts and track various metrics to help users maximize their earning potential, has nine stages of presale.
By the final stage, the native D2T token will be on sale for $0.0662 – an increase of 39% over phase 1.
Dash 2 Trade 10x Potential
Dash 2 Trade has the potential to 10x by the end of the year given its low starting price and small max supply and is one of the best cryptos to buy now.
For D2T to 10x it would only need to trade at $0.472 – with a market cap of under $500 million.
With just a 1 billion max supply – and 700 million tokens available in the presale – it will also only take a $1 billion market cap to reach $1 each.
That would represent a massive 21x from the first phase and, given the potential of its protocol, is very achievable.
For SHIB to do 10x from its current price it would need a market cap of $50 billion – currently bigger than every coin except Bitcoin, Ethereum, and USDT.
Dash 2 Trade is a new crypto intelligence platform that aims to help users make better-informed decisions on their holdings and maximize returns.
It will do that in a number of ways, tracking various metrics to send out trading signals when good buy or sell opportunities appear, and spotting trends by analyzing on-chain data and social sentiment.
Users can also access a variety of trading and social trading tools, back-testing them in real-time and discussing strategies to optimize approaches without risking capital.
The dashboard will also include a new and bespoke tracker for crypto presales, using a variety of insights to ensure confidence.
Who is Behind Dash 2 Trade?
Crypto presales can come with risk attached but Dash 2 Trade is extremely low-risk.
The team is doxxed and KYC-verified by CoinSniper – they are the same group behind Learn2Trade, a beginners’ trading platform with more than 70,000 global users.
The token’s contract is rug-proof having been audited by SolidProof.
How Does Dash 2 Trade Work?
Dash 2 Trade works with a monthly subscription, with users picking one of three price tiers to access different features.
The tiers are Free (zero fees), Starter (400 D2T per month), and Premium (1,000 D2T per month).
While the Free tier has access to limited insights and intelligence, Premium level users are granted use of all metrics, and tools, as well as bonus features such as trading competitions.
Shiba Inu (SHIB/USD) has added another zero after the decimal point for its current price. As of press time, the cryptocurrency was exchanging hands at $0.00000996, losing 3% in the week. A brief technical outlook shows the meme token is back to its June and July lows. There are positive things, however, to note.
As the Shiba community ponders when the SHIB Metaverse will come to fruition, the developers are keeping hopes alive. The team has unveiled a new concept art for its virtual reality world, dubbed Dunes.
Of course, it’s not the first time the developers have released concept art. The previous ones included the WAGNI Temple, the Rocket Pond, and Canyon. The Shiba Inu community may be less excited about the concept art, going by the lack of enthusiasm around SHIB’s price. However, it at least shows the work in progress for Shiba Inu’s virtual reality world.
Meanwhile, the SHIB burn rate is also on the rise. In the last 24 hours, over 45 million tokens were burned. That represented a 1,860% spike in burn for the meme cryptocurrency. The burning mechanism aims to tame falling SHIB prices. However, investors are hearing none of it. Some are even questioning whether SHIB will survive till the end of 2023. How can that be?
The community is concerned that despite the introduced burn mechanism, SHIB continues to decline. The lack of real utility of the token has been blamed for limited network activity and growth.
SHIB continues to slide below moving averages
Source – TradingView
The technical outlook is bleak for SHIB. Despite sitting at support, sellers are active at the current price. An RSI reading of 38 suggests that there are more sellers, and we are yet to get to the oversold zone. The price momentum is weak as moving averages continue to offer resistance above.
What next for SHIB?
The technical indicators and price momentum pits SHIB back to the June lows of $0.0000072.
However, with the extremely low valuations, more utility for the meme token could allow SHIB to surprise markets. That’s what SHIB is known for – making parabolic moves at the slightest of positive news. Consequently, whereas there is a risk for SHIB, it also carries an unprofaned opportunity.
Where to buy SHIB
eToro
eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.
Bitstamp is a leading cryptocurrency exchange which offers trading in fiat currencies or popular cryptocurrencies.
Bitstamp is a fully regulated company which offers users an intuitive interface, a high degree of security for your digital assets, excellent customer support and multiple withdrawal methods.
In this blog post, we will discuss Shiba Inu (SHIB), Ethereum (ETH) and Snowfall Protocol (SNW) – three coins that you should definitely know about!
As the crypto market is going through a rough patch, Dogeliens, Shiba Inu and FTX tokens might help the investors gain profits they are looking for.
Since its debut, one of the most eye-catching elements of the blockchain economy has been the abundance of investment options it gives users. More than 100 million people use crypto daily, and the number of people who invest in the sector is growing. There are already over 18,000 currencies available on the cryptocurrency market, giving users a wide variety of blockchain options. Big Eyes Coin (BIG), a relatively new cryptocurrency, is making waves in the market as a ground breaking project focusing on advancing the DeFi industry and safeguarding the marine habitat. As such, the BIG token is the primary means of exchange in the cryptocurrency markets. Meanwhile, Dogecoin (DOGE) and Shiba Inu (SHIB) are steadily but unquestionably dominating the
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Source – TradingView-638023371670565673.png)
