Already since the end of November, Shiba Inu has seen a steady increase in new addresses with assets greater than 0 SHIB. So the network has seen more than 50,000 new addresses in the last two months. Apart from transfers between wallets, SHIB coin can be exchanged with other popular cryptocurrencies on ShibaSwap, Shiba Inu’s native decentralized exchange . You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Also, it is called the DOGE killer as Shiba Inu is a potential contender to the largest memecoin, Dogecoin . Furthermore, the network is working on launching its new Defi project, Shibarium Financial Ecosystem . SHIBFE is followed by the launch of its native stablecoin project, SHI. Currently, he acts as a commentator across various asset classes, including Crypto, Stocks and FX, whilst also a startup founder. As a result of this move, the meme coin once again moved above a ceiling at $0.0935 earlier in the day.

Otherwise, according to one estimate, it would take about 1,157,174 years for the total supply to be reduced to 100 billion tokens if the meme coin burns only 1 million tokens per day. At that point, SHIB’s fully diluted valuation was over $13.5 billion. It was also the month when many other cryptocurrencies, including Ethereum, were recording their own respective all-time highs.

According to Cointelegraph, news of Shibarium’s launch on February 14th fueled the SHIB price recovery. In this article, we’ll look at what factors influence Shiba Inu’s price and make predictions on its future value. We’ll also look at two alternative coins to watch out for if you’re interested in investing in cryptocurrency. Although SHIB’s price growth partly relies on the general market momentum, the asset receives backing from increased network activity. In particular, the upcoming layer 2 scaling solution dubbed Shibarium is projected to spur network and price growth.

Over 25,000 new addresses have been added since the beginning of the year. Shiba Inu is hoping to become more than just a Dogecoin -inspired memecoin as it comes closer to launching its layer-2 networkcalled, Shibarium. Meanwhile, the Shiba Inu token has emerged as one of the best performers so far in 2023. However, a lack of updates will leave the pair in the hands of the broader crypto market.

Stablecoins like Ripple and Binance USD however, failed to record profits on Friday and opened with minor losses. The crypto market valuation dipped by 1.57 percent in the last 24 hours as several cryptocurrencies recorded losses on Friday, January 27. Bitcoin and Ether, along with Cardano, Polkadot, and Litecoin opened with losses.

Binance’s Audit of Crypto Holdings and Liabilities Not Coming Soon

In other words, it would enable developers to build and launch decentralized applications while aiming for lower transactional costs and improved network scalability. OKX’s native cryptocurrency has soared by almost 7% in the past 24 hours and has tapped another high at nearly $45. Ethereum, Binance Coin, Ripple, Cardano, Dogecoin, and MATIC are also slightly in the red from the larger-cap alts. Among the few alts that have done better is another memecoin – BabyDoge Coin. The Dogecoin spin-off has soared by roughly 150% within the same timeframe.

Unlike some of the previous weekends since the start of the year, this one has been rather calm for bitcoin, which remains slightly above $23,000. A move through the 50-day EMA ($0.0919) would support https://coinbreakingnews.info/ a breakout from R1 ($0.0959) to bring R2 ($0.0999) and $0.1000 into view. However, a pullback from the 50-day EMA ($0.0919) would give the bears a run at the 100-day EMA ($0.0895) and S1 ($0.0892).

Comparison of SHIB with BTC, ETH

Bitcoin is a significant factor that affects the price movement of Shiba Inu. How the upcoming Ethereum Merge affects the growth of Shiba Inu coins is also to be observed. Among the most anticipated changes are the reduced gas fees and more transactions per second. A new token, TREAT, is also upcoming that will be used as a reward token on Shiba Inu-based metaverse and games such as the Shiba Collectible Card Game. A limited supply of these coins is reserved for its most loyal Breed members who have been working for years to build public confidence in the entity. Soon, the memecoin will migrate to layer-2 following the Shibarium update.

Ryoshi thanked Buterin for his contribution to creating a decentralized financial system. Tamadoge appears to be a great altcoin for cryptocurrency gamers, as it plans to release a mobile app, as well as arcade and augmented reality games, in 2023. The Meta Masters Guild is an innovative Web 3.0 gaming platform where you can make money by playing games. The platform features NFTs (Non-Fungible Tokens) linked to digital wallets, and you can earn “Gems,” the in-app currency, by playing games and trading them for $MEMAG.

SHIB Eyes a Return to $0.000015 to Target $0.000016 on Shibarium News

DOGE also struggled on Sunday after briefly returning to the $0.100 handle on Saturday. While the Dogecoin Foundation has remained silent since the launch of the Development Fund, Elon Musk and Twitter continue to deliver a bullish outlook. Reversing a 3.34% gain from Saturday, DOGE ended the week up 2.22% to $0.0920.

The global crypto market cap grew by 3.35 percent in the last 24 hours. BTC, ETH and majority altcoins including Cardano, Solana, and Binance Coin opened with gains on Thursday, October 27. In the last 24 hours, the global crypto market cap crawled up the price ladder by just 0.02 percent. Along with Bitcoin and Ether, stablecoins such as Tether, USD Coin, and Binance USD saw losses.

In this article, we will give an overview of the key performance indicators of SHIB such as price and market cap. We will then share with you what most popular crypto-analysts have to say about the future of this meme coin. This information will be complemented by data charts for a better understanding of the trajectory of SHIB so far and later. Launched as an ERC-20 token on the Ethereum blockchain in August 2020, Shiba Inu coin is one of the two most popular canine-themed meme coins. Shiba cryptocurrency gained quick popularity as a potential ‘Dogecoin Killer’ post its launch and continues to rival Dogecoin . Bitcoin and Ether, along with majority other cryptocurrencies, rose in prices.

The easiest and quickest way to buy SHIB is through ShibaSwap, the SHIB ecosystem’s native DEX. The token can also be purchased from an ever-growing list of centralized exchange platforms . Whilst any Ethereum-compatible wallet will hold your SHIB tokens, MetaMask is the most popular choice for SHIB storage.

• Accordingly, this system attempts to measure the strength of price movement in the positive and negative directions using DMI indicators with ADX.
• The overall crypto market valuation dropped by 2.70 percent in the last 24 hours.
• Ryoshi thanked Buterin for his contribution to creating a decentralized financial system.
• Besides the community price predictions, technical analysis indicates that SHIB might be lining out for a possible price breakout.
• A dedicated writer who shows her interest in writing all sorts of content about the cryptocurrency market in NewsCrypto.

Relevance is automatically assessed so some headlines not qualifying as Shiba Inu token news might appear – please feel free to contact us regarding any persistent issues. Ethereum Open Interest, a measure of the amount of outstanding contracts on the Ethereum options and futures market, has recently reached a two-year high. This surge in open interest can be attributed to the cryptocurrency market recovery that began in January, with Ethereum leading the charge.

Shiba Inu (SHIB) Rallies Once Again As ShibaSwap (BONE) Gets Listed on Crypto Exchange Bitget

Every investment and trading move involves risk and readers should conduct their own research when making a decision. The primary cryptocurrency experienced some enhanced volatility at the start of the month after the US Federal Reserve announced raising the key interest rates by 25 basis points once again. Some altcoins, though, have performed more impressively, including OKB and a few memecoins.

Numerous factors are taken into account when forecasting prices including volume changes, price variations, market cycles, and similar coins. It is an indicator of how the current trading volume has changed over a period of time from the previous trading volume. Currently, the RVOL of SHIB lies below the cutoff line, indicating weak participants in the current trend. Shiba Inu was launched on the Ethereum blockchain and also resides on the Binance Smart Chain .

Furthermore, Shiba Inu is witnessing increased activity from the burning front, with the initiative aimed at reducing SHIB’s supply and consequently impacting the price. In this line, SHIB developers announced that every transaction on the Shibarium network would result in a burn of the token. Yuri is a crypto journalist interested in technology and technical innovations. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects.

Announcement about their relationship for Web 3.0 development initiatives. A select group of clients will also be able to pay for these services using SHIB and other cryptocurrencies. We’ll have to wait and see if the decision is implemented and if other businesses decide to follow suit. What the enterprise is certain to face is a challenge in this space from Big Tech metaverse ventures such as Yuga Labs’ Otherside and Zuckerberg’s Meta. It is difficult for an independent community such as the Shiba Inu Ecosystem to sustain the might of Big Money and Big Tech.

The team has deployed a host of new and innovative developers to build the UX/UI of its platform and web portals as a part of the same process. The post also informed that the developers are yet to determine the launch date of its beta version. And, not everyone agrees with whatever utility meme-coins like DOGE and SHIB might have either.

Shiba Inu (SHIB) Price Prediction 2023 — Will SHIB Hit $0.00005 Soon?

Impressive US economic indicators refueled Fed Fear over the weekend. Hawkish FOMC member chatter could weigh on the NASDAQ Index, DOGE, and SHIB in the afternoon session. A dedicated writer who shows her interest in writing all sorts of content about the cryptocurrency market in NewsCrypto. She is an enthusiastic reader and writer with passion for sharing crypto news and trends.

As Bitcoinist reported, the network recorded the most whale transactions (over $100,000) since January 17. These movements are usually accompanied by a larger movement in price. SHIB price mainly surged in October 2021 and famously created a billionaire who got covered by many news publications. Its market capitalization is still approximately $450 billion, while its dominance over the alts is down to 41.5% as several alts have surged notably in the past week or so. Following a bearish Sunday, SHIB and DOGE gave up early gains this morning. TheNewsCrypto is an online media publication that helps to educate readers about news, exchanges, and markets in the crypto and blockchain industry.