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  • Gaming, Giving, Grinding: The World of Charitable Crypto Projects ApeCoin, Dogeliens and Shiba Inu

    Gaming, Giving, Grinding: The World of Charitable Crypto Projects ApeCoin, Dogeliens and Shiba Inu

    In 2022, blockchain projects have taken on dimensions far beyond anything predicted when Satoshi Nakamoto engineered Bitcoin (BTC) in 2008, changing the world forever.

    While profitability and decentralised finance have been the critical aspects of most blockchain platforms and concepts for more than a decade now, some projects are trying to do something a bit different with their currencies, making money as they go.

    Three of those coins are Dogeliens (DOGET), Shiba Inu (SHIB), and Apecoin (APE). While these are all for-profit ventures, the development teams behind them have gone to great lengths to make sure that their platforms are giving back to the world’s communities and offering a helping hand.

    In this article, we’ll break down the charitable and philanthropic efforts of the above cryptocurrencies, and hopefully, put a smile on your face: blockchain projects aren’t always just about money. They can also be about making the world a better place.

    Shiba Inu: Crypto Relief Giant

    The meme coin Shiba Inu (SHIB) is responsible for the largest donation in cryptocurrency history. After the creation of the coin in August 2020, the platform burned 50% of its total token supply to a wallet belonging to Vitalik Buterin, one of the founders of Ethereum.

    A portion of this gigantic amount of decentralised money was then gifted to the India Covid Crypto Relief Fund, representing by far the largest and most valuable donation of crypto to date. Currently, the value of the tokens donated is worth over $500M. On the day they were donated, they were worth much more, with an approximate value of more than $900M.

    This extraordinary move was made to grant relief to the people of India, many of whom were ravaged by the COVID-19 pandemic and who were in desperate need of aid. The generosity of this donation can’t be overstated. Instead of pulling the tokens for his benefit, Buterin, with the support of Shiba Inu (SHIB) made the noble decision to give them away to help others.

    The charitable efforts of Shiba Inu (SHIB) don’t stop there: the platform also uses the wealth it generates to rescue and protect Shiba Inu dogs. On the Amazon Smile web platform, a service that allows a portion of your amazon purchase to be gifted to a charity of your choice, you can select the Shiba Inu Rescue Association, a brainchild of the same team behind Shiba Inu (SHIB).

    Monies raised from these sales will be used to fund shelters for Shiba Inus without owners, and protect these unique canines from being abandoned or abused.

    ApeCoin: Saving their Namesake

    The utility token ApeCoin (APE) is another cryptocurrency whose team has made specific efforts to do good while evolving its platform and ecosystem.

    This token was heavily inspired by Yuga Labs’ Bored Ape Yacht Club series of NFTs, the focus of which are pictures of apes with various accessories and physical traits making them unique from one another.

    Fittingly, the ApeCoin (APE) team have committed 10,000,000 tokens (or the equivalent in dollar value) to be donated to the Jane Goodall Legacy Foundation. This charitable foundation focuses on preserving the lives and rights of great apes, protecting biomes from destruction, and on community support in developing countries.

    Great apes, as higher primates, are intelligent and sensitive beings, a fact all too easily forgotten by humans. Apes are intrinsically funny and loveable to us humans, no doubt in part because they resemble us so much. Despite our love of our simian cousins, who are so close to us genetically, it is a sad fact that the living spaces of these animals are being eroded.

    It is excellent news that a blockchain project can help these endangered animals, and what coin would fit better than ApeCoin (APE)? True to their namesake, the team behind APE are going back to their roots by conserving the environments in which these majestic monkeys live.

    Dogeliens: Community-Driven Charity

    Last but not least, an honourable mention must go to the Metaverse-inspired Dogeliens (DOGET), a meme coin in its presale stage, which aims to take the GameFi sector by storm with an online gaming platform complete with NFT integration, play-to-earn mechanics, and partial community ownership.

    The most impressive of this lineup of features is a dedicated 3% tax on transactions within its ecosystem. This amount of Dogeliens (DOGET) will be added to a dedicated charity wallet. Community members and token holders will then be able to vote each month to determine which charity this wallet will support.

    In this way, the Dogeliens (DOGET) ecosystem will donate to different causes each month, and the more successful the token is, the higher the value of donations. This creates a virtuous cycle whereby community engagement and investment drive greater charitable gains.

    Final Thoughts

    Cryptocurrency and blockchain innovation in general can get a bad rap in mainstream journalistic circles. Much attention has been paid to the environmental impacts of crypto creation, mining, and operating blockchain networks.

    However, as we’ve learned from the examples above, there is also great potential for good in both the cryptocurrency community and the platforms they subscribe to. Real money has been gifted to real people to provide relief to their communities, protect the world’s environment, and improve the rights and conditions of animals.

    We can only guess what the future might bring, but with charitable giving becoming a powerful component of blockchain ecosystems, we might have a lot to look forward to.

    Dogeliens (DOGET)

    Presale: https://buy.dogeliens.io/
    Website: https://dogeliens.io/
    Telegram: https://t.me/DogeliensOfficial

    Disclaimer: This is a paid release. The statements, views and opinions expressed in this column are solely those of the content provider and do not necessarily represent those of Bitcoinist. Bitcoinist does not guarantee the accuracy or timeliness of information available in such content. Do your research and invest at your own risk.

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  • This Is why Shiba Inu and Dogecoin (DOGE) Investors Should Stay Alert This week

    This Is why Shiba Inu and Dogecoin (DOGE) Investors Should Stay Alert This week

    The Shiba Inu (SHIB) and Dogecoin (DOGE) investors need to pay a lot of attention to the Bitgert (BRISE) and Centcex (CENX) coins.

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  • Shiba Inu releases concept art for $210B market

    Shiba Inu releases concept art for $210B market

    • The Shiba Inu team has released the first concept art of Dunes, another hub in its Metaverse.
    • Shiba Inu has previously released concept art for other hubs in its Metaverse.

    Shiba Inu has released the first concept art of another hub in SHIB: the Metaverse (Dune), according to a new announcement from the SHIB’s Metaverse development posted on the network’s blog. Dune is the newest hub in the SHIB: the Metaverse hubs.

    The SHIB Metaverse development team remarked that it released the Dune concept art to share the best reference points that align with the creative aspect and outlook of the hub.

    All the concept artworks for SHIB’s metaverse hubs are usually displayed in black and white images, and the Dunes hub is no exception. The SHIB team notes that the black and white images will enable users to have a feel of the integral role the hub will play in the Metaverse.

    In the blog post for the Dune announcement, Shiba Inu explained that “abstract artwork such as black and white sketches connotes a powerful, strong and physical potential.”

    The Dune design inspiration

    According to the announcement, several natural architectural masterpieces inspired the Dunes design concept artwork. Such locations include the Sahara Desert; the Sand Dune national park in Colorado, US; Namibia’s Sossusvlei Park; the Pyramids, Egypt and Dubai city (UAE).

    The development team also shared its inspiration source for the flora in the Dunes hub. The sources were Thorns, Welwitschia, Twigs, Nara Melons, Bushel, Camel Thorn Tree, and Twigs. According to the team, Elephants, Dune scorpions, Giraffes, Cheetahs, and Sidewinder Snakes inspired the Dune’s Fauna.

    Shiba Inu also shared how landowners in the Dune hub will feel. It said, “imagine yourself looking at wind-shaped mounds of sand, with more smooth sand particles adding to the already available mounds of sand. At the same time, you’re feeling a heat sensation.”

    Then, when a closer look reveals a unique oasis that is very extensive and adequately designed. It is similar to a modern, adventurous place with cooling waters and lots of shiny architecture.

    Shiba Inu also revealed that it would be hosting a fireside chat on Thursday, October 27, by 8 pm EST. The chat will take place on the official shibtoken discord channel, and potential Dune hub landowners can learn more about it and other details of the dog-themed project.

    Shiba Inu and its Metaverse

    Releasing a concept artwork for SHIB Metaverse’s Dune hub isn’t a first. SHIB: the Metaverse had previously released its first concept artworks for its other hubs, such as rocket Pond, Canyon, and WAGMI Temple.

    SHIB’s Metaverse project is one way Shiba Inu proves that there is more to this cryptocurrency project than being a memecoin. Hence, the team is making efforts to ensure the project’s short- and long-term success.

    For instance, it has hired some of the leading experts in the entertainment industry to promote the SHIB: the Metaverse project. Nevertheless, the good news has yet to impact SHIB’s price positively. It is down 0.48 percent in the last 24 hours and trades at $0.000010.



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  • Investors Sees Promising Returns from Shiba Inu (SHIB), Dogecoin (DOGE), and Flasko (FLSK)

    Investors Sees Promising Returns from Shiba Inu (SHIB), Dogecoin (DOGE), and Flasko (FLSK)

    Given how stable the cryptocurrency market has been over the weekend, the next bull run may begin early this week. There are numerous indications that a bullish explosion may be imminent. Some coins that could perform well in the upcoming bull run include Flasko, Shiba Inu (SHUB), and Dogecoin (DOGE).

    Because of the developments and the enthusiasm surrounding these currencies, crypto experts believe these coins have a tremendous potential to post a bullish explosion in the coming days. Shiba Inu (SHIB) Showing Some Signs of Recovery Shiba Inu (SHIB) was another green coin at the time of publication. The Shiba Inu (SHIB) has risen by 0.8% over the last 24 hours. Therefore there is a chance that the coin will do well today. One of the main factors influencing the present Shiba Inu (SHIB) growth is the rapidly expanding adoption of the Shiba Inu (SHIB) Eternity Game. Several different factors drive Shiba Inu’s (SHIB) acceptance. Dogecoin (DOGE) Shows Promising Performance The recently completed upgrade of the Dogecoin (DOGE) Core Wallet to version 1.14.6 is now active. Dogecoin (DOGE) may perform well in the upcoming Bull Run due to the upgrade, which is anticipated to promote acceptance of the cryptocurrency. The DogeathonDownunder2022, a hackathon for Dogecoin (DOGE), will also significantly contribute to a bullish Dogecoin (DOGE). These are why Dogecoin (DOGE) may be a coin to keep an eye on. Flasko (FLSK) Is A Secure Long-term Investment Following the launch of its presale in the cryptocurrency market last month, Flasko has unexpectedly drawn several crypto whales to its cutting-edge platform. A market for investing in expensive wines and spirits, a sector with a market value of trillions of dollars, has been created by the ground-breaking enterprise. Flasko’s smart contracts were audited and approved by the German company Solid Proof.  Additionally, the platform locked liquidity for 33 years to demonstrate investors’ commitment to the protocol by forbidding sales of their holdings for the following two years, making it an even safer long-term investment. According to experts, Flasko has every quality that makes blockchain technology successful. Additionally, there is still time to participate in the presale for just $0.065, giving you a great chance to benefit from the growing spirits and wine industry. In our opinion, Flasko is the ideal choice if you want to replicate the profits of well-known cryptocurrencies like Shiba Inu (SHIB) and Dogecoin (DOGE) with minimal investment. Website: https://flasko.io Presale: https://presale.flasko.io Telegram: https://t.me/flaskoio Twitter: https://twitter.com/flasko_io

    Disclaimer: This is a press release post. Coinpedia does not endorse or is responsible for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company.

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  • How Does it Rank Tuesday on Long-Term Trading Metrics?

    How Does it Rank Tuesday on Long-Term Trading Metrics?


    Shiba Inu receives a strong long-term technical score of 71 from InvestorsObserver analysis. Our proprietary scoring system considers the trading patterns over the past several months to a year by analyzing the token’s consistency, volatility, and where it is relative to long-term averages to determine whether it’s a strong buy-and-hold investment opportunity.

    Currently, SHIB holds a superior long-term technical analysis score than 71% of crytpocurrencies. Long-term investors employing a buy-and-hold strategy will find the Long-Term Rank especially relevant when allocating their assets and may find additional value finding cyptos with a high short-term technical score to discover tokens that have bottomed out.

    Long-Term Technical - 71
    InvestorsObserver is giving Shiba Inu a 71 Long-Term Technical Rank. Find out what this means to you and get the rest of the rankings on Shiba Inu!

    Trading Analysis

    The current trading price of $0.000010002 for SHIB is -$0.0000018 (-15.20%) below the tokens 100-day moving average of $0.000011796. SHIB meanwhile is $0.0000028 (-152835551.42%) above its 52-week low of $0.000007197 and -$0.00007845 (-11305707.43%) under its 52-week high price of $0.000088451. Shiba Inu’s current price relative to the tokens long-term average and 52-week high and low, gives the crypto a strong long-term technical score of 71. The price movement and range of SHIB suggest that investors are neutral on the token at this time.

    Shiba Inu currently has a total market cap of $5,491,960,713.56 to go along with its average daily volume of $817,872,064.98 worth of the currency over the past seven days. SHIB’s volume is below its seven day average as of the past 24 hours, with 111,373,385.17 exchanged in that period.

    Summary

    Trading patterns over the last year for Shiba Inu leads to the token’s a strong long-term technical score of 71 as its consistency, volatility, and relation to long-term averages has given investors reason to be neutral on the token.

    Click Here to get the full Report on Shiba Inu (SHIB).

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  • Only Dogecoin and Shiba Inu? Why Is Nobody Talking About This Coin?

    Only Dogecoin and Shiba Inu? Why Is Nobody Talking About This Coin?

    Dogecoin and Shiba Inu are some of the top meme coins that is garnering heavy competition from Catecoin.

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  • As Shiba Inu Flops, Try New Meme Coin Dogeliens Instead

    As Shiba Inu Flops, Try New Meme Coin Dogeliens Instead

    Shiba Inu has not been doing so great in the market, so the investors are not trying the new meme coin Dogeliens to be safe.

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  • Shiba Inu Price Analysis (SHIB)

    Shiba Inu Price Analysis (SHIB)

    Bitcoin Analysis 

    Bitcoin’s price is experiencing its lowest level of volatility since 2012 and bullish traders defended the $19k level for the 41st consecutive day on Monday. Despite holding $19k, when traders settled-up at 12:00 AM UTC, BTC’s price was -$239.8 for the day. 

    We’re starting our price analyses today with the BTC/USD 1W chart below from ft-73. BTC’s price is trading between the 0 fibonacci level [$17,664.04] and the 0.382 fib level [$37,230.34], at the time of writing. 

    Bullish traders need to do more than just stall bearish momentum and they firstly need to regain BTC’s 2017 ATH [$19,891] with a second target of eclipsing the asset’s 200WMA [$23,719]. 

    Above those targets are the typical fib level aims of 0.382, 0.5 [$43,296.39], 0.618 [$49,362.44], 0.786 [$57,998.85] and the 1 fib level [$69,000] on the BITSTAMP chart. 

    From the perspective of bearish traders, they’re looking to again send BTC’s price below the 0 fib level which will mark a fresh 2022 and 12-month low for the asset.

    BTC/USD 1W chart
    BTC/USD 1W chart: the price is trading between the 0 fibonacci level [$17,664.04] and the 0.382 fib level [$37,230.34]

    Traders can see just how low the volatility is on the chart below from Babenski.

    index
    Chart with volatility index

    The Fear and Greed Index is 20 Extreme Fear and is -2 from Monday’s reading of 22 Extreme Fear.

    Fear and Greed
    The Fear and Greed Index is 20 Extreme Fear

    Bitcoin’s Moving Averages: 5-Day [$19,231.25], 20-Day [$19,438.56], 50-Day [$20,069.44], 100-Day [$21,267.31], 200-Day [$29,911.07], Year to Date [$30,612.38].

    BTC’s 24 hour price range is $19,157-$19,601.2 and its 7 day price range is $18,788.33-$19,660.63. Bitcoin’s 52 week price range is $17,611-$69,044. 

    The price of Bitcoin on this date last year was $63,100. 

    The average price of BTC for the last 30 days is $19,335.8 and its -0.2% over the same stretch. 

    Bitcoin’s price [-1.23%] closed its daily candle on Monday worth $19,331.4 and in red figures for the first time in four days. 

    Ethereum Analysis 

    Ether’s price was also sent lower on Monday and ETH finished the day -$20.31.  

    The ETH/USD 1D chart by EdgarTigranyan is the second chart we’re focusing on this Tuesday. ETH’s price is trading between the 100.00% fib level [$1,217.87] and 78.60% [$1,341.25], at the time of writing. 

    If bullish traders can regain the 78.60% fib level their targets are as follows, 65.00% [$1,419.67] 61.80% [$1,438.12], 50.00% [$1,506.15], 38.20% [$1,574.18], 23.60% [$1,658.36], and a full retracement at 0.00% [$1,794.43].

    Bearish Ether traders are conversely trying to continue ETH’s downtrend that began during the week leading up to The Merge. The targets to the downside for bears are the 100.00% fibonacci level followed by the 161.80% fib level [$861.56].

    ETH/USD 1D chart
    ETH/USD 1D chart: the price is trading between the 100.00% fib level [$1,217.87] and 78.60% [$1,341.25]

    Ether’s Moving Averages: 5-Day [$1,308.50], 20-Day [$1,321.38], 50-Day [$1,475.22], 100-Day [$1,444.33], 200-Day [$2,077.12], Year to Date [$2,145.14].

    ETH’s 24 hour price range is $1,324.17-$1,370.6 and its 7 day price range is $1,264.48-$1,370.6. Ether’s 52 week price range is $883.62-$4,878. 

    The price of ETH on this date in 2021 was $4,220.35. 

    The average price of ETH for the last 30 days is $1,316.22 and its +1.73% over the same interval. 

    Ether’s price [-1.49%] closed its daily candle on Monday worth $1,343.88 and in red digits also for the first time in four daily candle closes. 

    Shiba Inu Analysis

    Shiba Inu’s price followed the macro market cap low on Monday and when SHIB’s daily candle was printed it was -$0.0000024.

    The final chart we’re looking at today is the SHIB/USDT 4HR chart below from abanefsobulls. Shib’s price is trading between the 0.236 fib level [$0.000009884] and 0.382 [$0.00001021], at the time of writing. 

    The overhead targets for bullish SHIB traders are 0.382, 0.5 [$0.00001051], and 0.618 [$0.00001081]. 

    Bearish SHIB traders that are still short the asset want to push SHIB’s price below the 0.236 fibonacci level followed by a target of a full retracement back at 0 [$0.00000924]. 

    SHIB/USDT 4HR chart
    SHIB/USDT 4HR chart: the price is trading between the 0.236 fib level [$0.000009884] and 0.382 [$0.00001021]

    Shib’s 24 hour price range is $0.00000984-0.00001019 and its 7 day price range is $0.00000974 / $0.00001045. Shiba Inu’s 52 week price range is $0.00000716-$0.0000884. 

    Shib’s price on this date last year was $0.00003599. 

    The average price of SHIB over the last 30 days is $0.00001068 and its -8.2% over the same duration. 

    Shiba Inu’s price [-2.36%] closed its daily session on Monday worth $0.00000992 and in red digits for the second time over the last three days. 



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  • Shiba Inu And Rocketize Token Might Rule The Meme Coin Market In The Coming Days

    Shiba Inu And Rocketize Token Might Rule The Meme Coin Market In The Coming Days

    The crypto market is oversaturated with coins. The ease of entry provides investors with a plethora of options available, and crypto traders and investors have a wide array of options to choose from. To capture their attention, many developers have resorted to tokens and meme coins to capture the interest of crypto holders and users. The meme coin sector of the crypto market might have peaked in 2021, but it is still vital today. The meme coin craze started as a joke back in 2013.

    When Dogecoin (DOGE) was released, it was a response to a running gag on the internet at the time. The joke resonated with so many people that meme coins became a thing overnight. Soon, Dogecoin (DOGE) became more than an internet sensation; it became a viable source of income for crypto users. And with that, meme coins were created. Soon, many other developers began releasing their meme coin variations. There are now over 300 meme tokens in the crypto market, with many more gearing up for release. Of these many coins, two meme coins to look out for are Shiba Inu (SHIB) and Rocketize Token (JATO).

    Shiba Inu (SHIB) The Unique Coin

    Just like the meme coin king, Shiba Inu (SHIB) also started as a joke. However, Shiba Inu (SHIB) also gradually matured into a unique coin with a massive market cap. Today, Shiba Inu (SHIB) is a fascinating coin with several real-world applications. The coin has a one-of-a-kind payment system that supports online transactions without intermediaries, making the process cheap and stress-free. Shiba Inu’s (SHIB) decentralized protocol is founded on the Ethereum (ETH) blockchain. Because of this, Shiba Inu is interoperable with other tokens. The Shiba Inu (SHIB) tokens are utilized in the Shiba Inu ecosystem for yield farming, staking, trading, and even rewards. Shiba Inu (SHIB) rose to prominence by strategically positioning itself as the “Dogecoin Killer.” While many might argue about the tastefulness of the nickname, it certainly did its job by attracting attention. Now, the coin has a thriving community of over a million people. Shiba Inu (SHIB) might have a lot of successes under its belt, but the coin has no intention of stopping. With numerous other exciting projects under its belt, Shiba Inu (SHIB) plans to reign in the crypto market for a very long time.

    Rocketize Token (JATO) The Latest Meme Coin

    One of the latest meme coins that are set to make its mark is Rocketize Token (JATO). The meme token is based on the Decentralized Finance (DeFi) ecosystem. Rocketize Token (JATO) is planning on redefining the communal and financial objectives of human civilization by integrating the non-traditional economic structures of DeFi. Rocketize Token (JATO) is based on the Binance Smart Chain and its token, JATO, acts as a deflationary currency.

    Rocketize Token (JATO) plans to be a successful meme token, and its ambitious map is proof. One of its primary tools is collaboration. Rocketize Token (JATO) intends to make use of decentralized tools and governance to provide inclusiveness and transparency. With a budding community called the Atomic Nation, Rocketize Token (JATO) offers its token holders complete control over funds and choices. By making use of the power of its ever-expanding community, Rocketize Token (JATO) plans to build a broad and varied talent pool.

    One of the finest features of the crypto asset is RockMint. RockMint is designed to generate and store NFT collectables with Web 3.0 dApp wallets. The crypto asset will promote the development of dApps for mobile devices and Web 3.0 innovation for game creation. Rocketize Token (JATO) might also create a bridge to connect multiple blockchain networks and enhance the DeFi utility and popularity on the platform. With the unique features on the platform, there is no doubt that Rocketize Token (JATO) will become a leading coin in the crypto market in days to come.

    Presale: http://rocket.rocketize.io/

    Website: http://rocketize.io/

    Telegram: https://t.me/RocketizeTokenOfficial

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  • Shiba Inu Burn Rate Has Just Spiked By An Impressive 1,860%

    Shiba Inu Burn Rate Has Just Spiked By An Impressive 1,860%

    Shiba Inu, a cryptocurrency that is a spin-off of dog-themed crypto Dogecoin, is counting on massive token burning rates to stop its decline.

    • Over the last 24 hours, over 45 million SHIB Tokens were burned
    • During the same time frame, Shiba Inu failed to increase its trading price
    • Analysts think the asset might “die” by the end of 2023

    But despite the destruction of around 410 trillion of its supply since its introduction to the crypto space, SHIB failed to make any kind of rally as it continues to paint its charts in crimson.

    Over the last 24 hours, there were over 45 million Shiba Inu tokens that were burned. That accounted for an impressive 1,860% spike in the asset’s burn activity.

    This, however, failed to help the altcoin as it is price dropped during the same time period. At the time of this writing, the asset was trading at $0.00000997, based on tracking from Coingecko. It’s been down by 4.3% for the past week and 11.4% over the last 30 days.

    The crypto’s community pinned their hopes on reducing its supply to stop it from experiencing another decline. That did not happen and investors are now cautioned to pay attention to SHIB’s metrics to know where the novelty digital coin is headed right now.

    What Awaits SHIB In The Next Coming Days

    While traders are still buying Shiba Inu, they are not holding the asset for long. Instead, they are using it to trade.

    Source: TradingView

    This is reflected in the crypto’s Accumulation and Distribution Line (ADL) which stood at 97.95 trillion. This level has helped the altcoin to establish the crucial $0.00000994 support marker.

    More bad news for holders as SHIB’s Directional Movement Index (DMI) hints at its apparent fall to bears once again.

    Moreover, the virtual currency’s Average Directional Index (ADI) at 23.58. If this number goes up over the next few days, it would put investors in a very difficult position to gain even just short-term profit.

    Meanwhile, prediction for Shiba Inu from Coincodex reveals the cryptocurrency will maintain its current trading price over the next five days but will eventually decline to $0.00000556 30 days from now.

    Shiba Inu Could Be Gone Next Year?

    Some experts are predicting that SHIB, as a cryptocurrency, will die by the end of 2023 and there are very good reasons this might prove true.

    For one, at present, there is no viable utility for the crypto asset and because of that, network activity and development won’t come as often as investors would want to.

    The altcoin is also experiencing high supply inflation rate at 7.93%. Despite having a circulating supply that is close to 1 quadrillion, coins available for trading are very limited.

    Furthermore, the burn mechanics that was thought to help in initiating price rallies for SHIB failed to meet the expectations of the asset’s community.

    Investors must keep a close watch of Shiba Inu as it might be closing in on being a “dead” cryptocurrency.

    SHIB total market cap at $5.46 billion on the daily chart | Featured image from Coopers Fire, Chart: TradingView.com

Disclaimer: The analysis represents the author's personal views and should not be construed as investment advice.

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