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Tag: SHIBUSD

  • Shiba Inu (SHIB/USD) whale buying intensifies but does price action show it?

    Shiba Inu (SHIB/USD) whale buying intensifies but does price action show it?

    • Shiba Inu is among the most purchased cryptocurrencies by Ethereum whales

    • The price action is still bearish despite a Shibarium update

    • SHIB could maintain the downtrend if new developments do not come up

    Meme cryptocurrency Shiba Inu (SHIB/USD) is again on Whale’s radar. According to Whalestats, Shiba Inu is among the most bought cryptocurrencies among Ethereum whales. The whale appetite has grown since the start of the year, and there is a reason. 

    A tweet on December 29 by Shiba Inu lead developer Shytoshi Kusama heightened speculations on Shibarium update. Shibarium will be a Layer-2 solution that will expand use cases for the Shiba Inu ecosystem. The update will see new features, including the Shiba Inu metaverse and blockchain games. These are expected to be game changers that will tilt Shiba Inu from its current meme label and make it competitive in Web3. 

    According to Kusama’s tweet, Shibarium could be on course to be launched “very soon.” The developer expressed optimism after meeting “the team from Unification UND about Shibarium.” As you already know, delays on the Shibarium update have been a thorn to SHIB. At the same time, frequent updates about Shibarium have failed to bear fruits in recent times. While the latest update is positive, speculators have expressed caution as the SHIB price remains weak. 

    Shiba Inu maintains a downtrend amid slight recoveries

    SHIB/USD Chart by TradingView

    The daily chart outlook shows SHIB is bearish, with SHIB maintaining a downtrend. The cryptocurrency is on a short term recovery, with the RSI shifting above the midpoint. SHIB is retesting a possible short-term resistance at $0.0000085. The price is already facing some rejection at the level, and a correction is imminent.

    SHIB concluding thoughts

    Shiba Inu is still bearish despite the increased whale accumulation. Potentially, the Shibarium update and whale accumulation are a bull trigger. However, investors would like to see the update happen after delays. As of the moment, investors would be better off watching the developments and buying SHIB on a confirmed bullish reversal.

    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.


    Buy SHIB with eToro today

    Binance

    Binance is one of the largest cryptocurrency exchanges in the world. It is better suited to more experienced investors and it offers a large number of cryptocurrencies to choose from, at over 600.

    Binance is also known for having low trading fees and a multiple of trading options that its users can benefit from, such as; peer-to-peer trading, margin trading and spot trading.


    Buy SHIB with Binance today

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  • Shiba Inu (SHIB/USD) nears a demand zone

    Shiba Inu (SHIB/USD) nears a demand zone

    • Shiba Inu recovered 1.21% on Monday after a bearish move

    • The developers teased a “countdown,” as some fans speculate the Shibarium update

    • SHIB could touch the June lows next

    Shiba Inu (SHIB/USD) gained 1.21% on Monday to trade at $0.0000087. The token is slightly recovering from a bottom price of $0.0000080 over the weekend. This is an important zone for SHIB, or rather, the cryptocurrency could touch a demand zone that was crucial to bulls in the past.

    A historical price movement of SHIB shows that $0.0000072 is a potential demand zone for SHIB. At the height of a bear market earlier this year, SHIB settled at this zone in June before embarking on a strong recovery. The gains took SHIB to a high of $0.0000179 in August before another bear cycle followed. Amid the intraday gains, this is the next level to watch for SHIB.

    Meanwhile, the Shiba Inu community is guessing about the Shibarium beta test. This was after a weekend tweet teased users with a “special countdown.” The countdown was still running down at 7 hours and 48 minutes as of press time. It is unclear what this countdown is all about, but users started to speculate on the Shibarium update. Others quashed it as a distraction to unimportant partnerships and hire.

    As the “countdown” unfolds, Shiba Inu fans will keep their hands crossed that something important will pop up. Probably, this could coincide with reports that SHIB is alongside BTC and ETH, the most watched cryptocurrencies on Binance. But technical indicators show a potential further slump.

    SHIB recovers slightly from an oversold level near the June lows

    SHIB/USD Chart by TradingView

    On the daily chart, SHIB is on a slight upside after touching a level slightly above the June lows of $0.0000072. The trend is still bearish, and a potential decline to June’s bottom could be on the card. The RSI reading is still below the midpoint, signalling a bear control.

    When will SHIB become bullish?

    The $0.0000072 could attract buyers again if bulls fail to capitalise on the current SHIB price recovery. This is the level to watch for bullish reversal signals.

    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.


    Buy SHIB with eToro today

    Bitstamp

    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.


    Buy SHIB with Bitstamp today

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  • Shiba Inu (SHIB/USD) surges 6% amid positive developments, metaverse prospects

    Shiba Inu (SHIB/USD) surges 6% amid positive developments, metaverse prospects

    • Shiba Inu token rose 6% on Monday amid listings on exchanges

    • The Shiba Inu team is expected to speak on the Metaverse project on December 5

    • The cryptocurrency faces rejection at the 50-day moving average

    Shiba Inu (SHIB/USD) rose more than 6% on Monday before sliding slightly. That comes even as Shiba Inu continues to get listed on major exchanges. The latest is the listing by Bitcastle Exchange. SHINB will join other altcoins Dogecoin, Solana, and XRP on Bitcastle.

    The cryptocurrency news followed another one at the end of November. That New York based Uphold will support Bone ShibaSwap. BONE is particularly important to the Shiba Inu ecosystem. It enables members to vote on new project proposals. Earlier, Indian-based platform SunCrypto also announced support for the Shiba Inu’s governance token. The support saw increased trading volume, with the token already growing in popularity.

    If you are wondering why there is increased social interest in BONE, here is the answer. The Shiba community continues to wait for the Shibarium update. That would see the shift from Ethereum’s ERC-20 token to an independent network. The end of Shiba Inu’s dependence on Ethereum is expected to boost the price of native tokens. Thus, investors are adding BONE in anticipation of a boom when the upgrade occurs.

    Shiba Inu metaverse is another much-anticipated development. On December 5, Shiba Inu is expected to present its Metaverse project at the Immerse Global Summit. The summit features top organisations such as Meta, Microsoft, and Walmart. The Shiba Inu community will want a peek at what the conference holds regarding the metaverse dream. But how bullish is SHIB after the latest gains?

    SHB shifts above the RSI midpoint

    SHIB/USD Chart by TradingView

    The RSI shifted above the neutral reading of 50 as buyers pushed the token’s price higher. The meme cryptocurrency has also recovered above the 20-day MA.

    However, from the daily chart outlook, bulls find it hard to break above the 50-day MA barrier. The rejection is confirmed by a slight correction in the price of SHIB as it surged.

    What next for SHIB?

    SHIB price could ride on the bullish momentum, but buyers must break the 50-day MA barrier first. The established resistance for the cryptocurrency lies at $0.000012.

    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.


    Buy SHIB with eToro today

    Bitstamp

    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.


    Buy SHIB with Bitstamp today

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  • Should you buy Shiba Inu (SHIB/USD) as whale accumulation intensifies?

    Should you buy Shiba Inu (SHIB/USD) as whale accumulation intensifies?

    • Shiba Inu has recovered 11% in a week.

    • Shiba Inu token has witnessed increased activity amid improving altcoin sentiment.

    • SHIB is still bearish and could remain vulnerable to $0.0000075.

    Shiba Inu (SHIB/USD) large investors are defiantly transacting the token against the prolonged bear market. November 28 WhaleStats data showed that SHIB was among the top 10 cryptocurrencies by trading volume among the biggest Ethereum whales. IntoTheBlock data also showed that large transactions on the Shiba Inu network had increased by 141% in the last 24 hours.

    A spike in trading volumes and transactions indicates traders are buying or selling SHIB aggressively. However, a price outlook of SHIB shows the cryptocurrency has gained an intraday of 2.24% and 11% in a week. It suggests that large investors could, in fact, be buying the meme cryptocurrency.

    The whale activity on Shiba Inu comes when Santiment data shows growing interest in altcoins. According to the data, Euphoric sentiment has hit a 3-month high for altcoins. As CoinJournal reported, Dogecoin was leading the surge on Musk news. The gains in SHIB reflect the improved sentiment, with the meme cryptocurrency known to follow DOGE moves.

    SHIB price outlook and analysis amid weekly recoveries

    SHIB/USD Chart by TradingView

    On the technical side, the SHIB price is still in a bear market. The MACD indicator has initiated a bullish crossover but remains bearish. The RSI reading of 45 is well below the midpoint.

    Besides, recent recoveries have taken SHIB to slightly above $0.000009. However, bulls are yet to recapture important levels. We consider a bearish view for SHIB in the short term.

    When to buy SHIB?

    SHIB price remains vulnerable as long as buyers do not recapture $0.000012. The level is the established resistance and a focal point for the SHIB trend pivot.

    Even as the price recovers slightly, the upside is weak, meaning sellers could try to push the token lower again. In a bear scenario, SHIB could find support at $0.0000075. This is the same low as June before the cryptocurrency initiated a recovery.

    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.


    Buy SHIB with eToro today

    Bitstamp

    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.


    Buy SHIB with Bitstamp today

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  • Is it now the time to buy Shiba Inu (SHIB/USD)?

    Is it now the time to buy Shiba Inu (SHIB/USD)?

    As cryptocurrencies continue to whipsaw, Shiba Inu (SHIB/USD) has been in the trenches. With a drop of more than 6% in a week, the cryptocurrency now trades at $0.0000092. A dip-buyer could be interested in the price level. That considers that SHIB has been holding it since touching a low of $0.000008 for a week.

    The main concern for SHIB and other cryptocurrencies has been a confidence crisis brought about by the collapse of FTX. The sentiment is so far bearish as most tokens are currently trading lower. Other than that, SHIB has been building on the meme token strengths and looked to have overcome resistance at $0.000012. 

    Aside from the negative sentiment, Shiba Inu continues to suffer from the lack of significant developments. Notable among these is the SHIB metaverse, which has stalled for a while. On November 16, however, the Shiba Inu team issued some positive updates. The team gave a first concept art reveal of what to expect once the metaverse becomes a reality. Although the update reawakens expectations of the key project, SHIB investors are yet to show optimism. The price of the meme token has remained muted.

    SHIB price outlook amid a bear market

    SHIB/USD Chart by TradingView

    Technically, SHIB is under pressure despite buyers having defended $0.000008. The level does not coincide with a support zone, and the cryptocurrency will likely fall further.

    The RSI reveals that SHIB is not yet oversold, although there are more sellers. The indicator shows a downside on SHIB. The meme token also trades below the moving averages.

    SHIB prediction

    Shiba Inu’s price could fall to the yearly lows of around $0.000007 if the current weak sentiment continues. The level coincides with support, meaning we will likely see a lower price. The cryptocurrency doesn’t present an attractive buy.

    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.


    Buy SHIB with eToro today

    Bitstamp

    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.


    Buy SHIB with Bitstamp today

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  • Is Shiba Inu (SHIB/USD) bull run over? Here is the technical outlook

    Is Shiba Inu (SHIB/USD) bull run over? Here is the technical outlook

    Cryptocurrencies continue to slide in a new week despite enthusiasm settling in previously. Shiba Inu (SHIB/USD) is one such cryptocurrency that posted massive gains. That allowed SHIB to overcome $0.000012 resistance, a key level that has always been watched as a price pivot. Consequently, SHIB went higher to a nearly 3-month high of $0.000015 on October 29.

    At $0.000010, SHIB has suddenly become bearish. That comes after a key technical level at $0.000012 failed to hold. The losses come amid concerns about huge amounts of SHIB being moved from the embattled FTX exchange. Etherscan data showed that whales transferred almost 1.5 trillion SHIB from the FTX exchange. The movement coincided with a nearly 10% price decline in SHIB on the same day.

    SHIB slides below the $0.000012 support as weakness mounts

    Source – TradingView

    A technical outlook shows SHIB trending down after bulls failed to hold firm the $0.000012 level. The price has also lost the 20-day and 50-day moving averages, underlining increasing bear pressure.

    The relative strength index shows a sharp selloff. The token is yet to hit the oversold levels, with the reading below the midpoint. 

    What next for SHIB?

    Shiba Inu is currently under the control of bears. A weak momentum and bearish indicators reinforce a further drop in the price.

    The area around $0.000008 is the next to watch should bulls fail to arrest the current weakness in SHIB. If bulls enter positions, SHIB price could rise to find resistance at $0.000012 again. A potential bullish momentum will be confirmed by a price recovery above the $0.000012 resistance. 

    Buyers should keep off SHIB for now until a proper bull confirmation. However, surprise recoveries on new developments should be monitored as SHIB is already known for that.

    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.


    Buy SHIB with eToro today

    Bitstamp

    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.


    Buy SHIB with Bitstamp today

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  • Shiba Inu Rises More Than 4% In 24 hours – SHIBA INU (SHIB/USD)

    Shiba Inu Rises More Than 4% In 24 hours – SHIBA INU (SHIB/USD)

    Shiba Inu’s SHIB/USD price has increased 4.46% over the past 24 hours to $0.000010. Over the past week, SHIB has experienced an uptick of over 4.0%, moving from $0.000010 to its current price.

    The chart below compares the price movement and volatility for Shiba Inu over the past 24 hours (left) to its price movement over the past week (right). The gray bands are Bollinger Bands, measuring the volatility for both the daily and weekly price movements. The wider the bands are, or the larger the gray area is at any given moment, the larger the volatility.

    The trading volume for the coin has climbed 103.0% over the past week, moving opposite, directionally, with the overall circulating supply of the coin, which has decreased 0.2%. This brings the circulating supply to 589.37 trillion. According to our data, the current market cap ranking for SHIB is #14 at $6.15 billion.

    Powered by CoinGecko API

    This article was generated by Benzinga’s automated content engine and reviewed by an editor.

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  • Why Dogecoin Rival Shiba Inu Is Rising – SHIBA INU (SHIB/USD)

    Why Dogecoin Rival Shiba Inu Is Rising – SHIBA INU (SHIB/USD)

    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

    See Also: Bitcoin Crosses $20K Mark, Ending 3-Week Slump — Will The Crypto Target $25K Next?

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  • Shiba Inu (SHIB/USD) continues to struggle. Here is the price outlook

    Shiba Inu (SHIB/USD) continues to struggle. Here is the price outlook

    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.


    Buy SHIB with eToro today

    Bitstamp

    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.


    Buy SHIB with Bitstamp today

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