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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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  • Shiba Inu Price Prepares for Significant Move Following 23.3M SHIB Burn

    Shiba Inu Price Prepares for Significant Move Following 23.3M SHIB Burn

    Shiba Inu (SHIB) has been called many names — from ‘Doge killer’ to meme token. Nonetheless, with the SHIB supply shrinking, can demand kick price gains in gear?

    On Oct. 25, Shiba Inu’s burn rate spiked by a massive nearly 1800%, according to data from Shibburn.

    Despite the SHIB price moving in a narrow range near the $0.0000100 level, there are signs of a break in volatility. This could lead to more significant moves for the token. 

    Burning SHIB, breaking barriers 

    The SHIB burn rate spiked by over 1,800%, with 23 million tokens burned within 24 hours. The recent burn brought the total number of SHIB tokens burnt to 410 trillion. 

    While burn events aim to decrease the supply, thereby increasing price and demand, it didn’t pan out well for SHIB.

    Data from CoinMarketCap presented that 24-hour volumes for SHIB stood at $111 million, an 8.23% fall over the last day. 

    Additionally, from a social perspective, the weighted sentiment was still negative. Social volumes also oscillated at low levels. 

    Source: Sanbase

    Despite little-to-no retail euphoria and negative weighted sentiment, there is still some hope left for SHIB holders. 

    SHIB price volatility storm incoming?

    The SHIB price has still been trading close to the $0.000010 level, which has acted as a crucial support/resistance during Q2 and Q3 2022.

    The daily RSI was leaning more toward the oversold zone, showing that sellers were dominating the market as trade volumes maintained low levels. 

    SHIB/USDT 1-day chart | Source: TradingView 

    At press time, the SHIB price dropped below the key support level and was trading for $0.000009986. 

    Nonetheless, SHIB’s volatility oscillated close to its all-time low level noting 35% on the charts. With volatility at such low levels and a larger market looking overheated, the Shiba Inu price could potentially break out of the consolidation it has been stuck in. 

    Source: IntoTheBlock

    A look at IntoTheBlock’s In and Out of Money at Price presented that the next crucial level for SHIB is the $0.000010 mark, where 4.67 trillion SHIB is held by around 9.2K addresses. A fall below this level could lead to further losses pushing the SHIB price down to $0.0000090. 

    Source: IntoTheBlock

    In case of a bullish turnover, the SHIB price could potentially see a push to the $0.0000110 mark. 

    For now, healthy demand for SHIB from entities such as ETH whales could support a price push. Interestingly, Shiba Inu was still high up on the ETH whales’ holding list, as shown in data from Whale Stats: 

    Even though ETH whales could support the SHIB price, retail trading momentum and an uptick in volume would be key for Shiba Inu going forward. 

    Disclaimer

    All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.



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  • Brandt says Bitcoin to hit $13k before setting a new all-time high

    Brandt says Bitcoin to hit $13k before setting a new all-time high

    Bitcoin is trading above $19k, but Peter Brandt believes it will reach $13k in the near term before setting a new all-time high three years from now.

    Peter Brandt, founder and CEO of proprietary trading firm Factor LLC, told CoinDesk TV in a recent interview that he believes Bitcoin will set a new all-time high in three years.

    However, before it does that, Bitcoin will trade for around $13,000 first. Bitcoin has been underperforming since the start of the year.

    Since reaching the $69k all-time high in November 2021, Bitcoin has lost more than 70% of its value. It has been trading below $20k in recent weeks but has maintained its price around the $18k-$19k level. Brandt said;

    “We [will] just chop between … let’s say $17,000 and $23,000,” said Brandt. “I think we will bottom here at some point in time, maybe early next year, but then I’m not looking for bitcoin really to become exciting again for another couple of years.”

    Peter Brandt is a technical trader that has been around since 1970. According to his predictions, it would take Bitcoin 32 months before it reaches a new all-time high again. 

    There have been talks that the US Federal Reserve will halt its interest rate hiking. However, Brandt doesn’t see that happening and expects a 75-basis point increase on Nov. 2. This would be followed by another 75 bps increase on Dec. 14. He said;

    “I think that the Fed knows that inflation is a killer. The Fed needs to regain its credibility. And to do that, I think the Fed really needs to bring inflation rates back down to at least 4%.”

    The cryptocurrency market has been mirroring other traditional financial markets, including stocks and commodities, in recent months. However, Brandt said he believes Bitcoin’s performance will be unique in the long run. He added that;

    “Bitcoin is going to be correlated with bitcoin eventually.”

    The $13k bottom suggested by Brandt differs from his opinion two months ago. In August, he suggested that Bitcoin could have reached its possible bottom, with BTC trading at around $21k at the time.

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  • Things You Didn’t Know About These Meme Coins – Dogecoin, Rocketize and Shiba Inu

    Things You Didn’t Know About These Meme Coins – Dogecoin, Rocketize and Shiba Inu

    With some gains and seriousness also comes some fun. Cryptos like Siba Inu, Dogecoin and Rocketize have provided that in the crypto market as meme coins

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  • Big Eyes Coin (BIG), Shiba Inu (SHIB) and Floki Inu (FLOKI) Could Dominate the Meme Coin Market Very Soon

    Big Eyes Coin (BIG), Shiba Inu (SHIB) and Floki Inu (FLOKI) Could Dominate the Meme Coin Market Very Soon

    With Big eyes coin joining the crypto market, it seems very possible that along with Shiba Inu and Floki Inu, it can over take the current market situation

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  • Here's Why Uniglo.io, Shiba Inu, And Dogecoin Will Do Well In Asian Markets – Business 2 Community

    Here's Why Uniglo.io, Shiba Inu, And Dogecoin Will Do Well In Asian Markets – Business 2 Community

    Many cryptocurrency projects are finding growth opportunities in Asia, where populations are expanding and income levels are rising. The volume of

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  • Shiba Inu vs Cardano: Which Cryptocurrency will Reach US$1 Before 2023 Ends?

    Shiba Inu vs Cardano: Which Cryptocurrency will Reach US$1 Before 2023 Ends?

    Cardano and Shiba Inu are among the hottest crypto networks in the Cryptoverse. In Shiba Inu vs Cardano, which is the best crypto to buy before 2023?

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  • Shiba Inu [SHIB]: Why investors should closely watch the latest burn reaction

    Shiba Inu [SHIB]: Why investors should closely watch the latest burn reaction

    Contrary to its recent trend, Shiba Inu’s [SHIB] burn rate spiked incredibly by 1858% in the last 24 hours. According to Shibburn‘s data, the hike pushed the total SHIB burned within the period to a figure of 45,165,582 SHIB. In doing so, the total SHIB burned since initial supply is now 410.38 trillion.

    Here’s AMBCrypto’s Price Prediction for Shiba Inu for 2022- 2023

    Source: TradingView

    Not the SHIB you used to know

    In unusual fashion, SHIB did not follow the trend of an increased burn rate and decreased volume. According to CoinMarketCap, SHIB’s volume rose by 32.86% within the same period the burn rate increased. With the 24-hour trading volume at $123.72 million, SHIB’s price failed to react positively as it preferred an almost neutral position at $0.000010.

    While the whole outcome might be surprising, there were other unusual events that took place leading up to the present state. A look at the chart showed that SHIB’s accumulation and distribution had surged incredibly high. With the Accumulation and Distribution Line (ADL) at 97.95trillion, it meant that there was high demand for SHIB. In this case, traders were not only buying to hold, but also using the token to trade.

    Despite the neural reaction of the price, it seemed that the ADL had also helped in raising the SHIB support since 21 October. At press time, SHIB was holding its support level at $0.00000994.

    However, there were indications that the support might not be solid enough. This state was revealed by the Directional Movement Index (DMI). Based on the DMI indication, SHIB seemed to be at risk of falling to the bears. 

    This, because of the buyers’ (green) inability to overcome the sellers’ strength (red). Hence, giving the latter an edge over them. In addition, the Average Directional Index (ADX)  was close to hitting strong directional movement. With the ADX at 23.58, a move further north might spell doom for investors looking to make short-term profit.

    Source: TradingView

    What’s with SHIB on-chain?

    On-chain data from Santiment revealed that SHIB had not done much in terms of its one-day circulation. In fact, the decline from 18 October till the time of this writing was a glaring one. The platform revealed that SHIB’s circulation was 532.71 billion, at the time of writing. The circulating state might prove that investors should not take the DMI’s indications lightly.

    It was not also a positive sight, as per the transactions count. Santiment recorded the transaction count to be 133 billion, at press time. As such, SHIB seemed to be losing hold of attracting more investors to its shield. Considering all of this data, SHIB might require an “all-star” increase both on-chain and on-charts to see a significant hike.

    Source: Santiment

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