Will There Be A Meme Coin Rally This Weekend? SHIB And DOGE Prices Are On The Verge Of A Bullish Rally
In recent weeks, the crypto market has seen a surge in the popularity of meme coins as popular cryptocurrencies like Shiba Inu and Dogecoin are leading the meme coin rally this year. The price action of SHIB and DOGE has created a buzz amid the bullish market trend and has gained investors’ attention to accumulate enough buying pressure in the price chart.
Shiba Inu And Dogecoin Prices To Surge Above These Levels
As meme coins are less affected than significant crypto assets like Bitcoin and Ethereum from the ongoing macroeconomic factors, investors gain more confidence to invest in this asset category.
Shiba Inu Price Analysis
Shiba Inu is on the cusp of a game-changing moment as it heads toward its key resistance level. Though the recent interest rate hike by the Fed has brought some uncertainty in the crypto market, it hasn’t demotivated big players from grabbing massive amounts of SHIB tokens. If the token manages to break above this resistance, a wild ride in the North may be witnessed with intense volatility.
As of writing, the SHIB token trades at $0.00001234 with an uptrend of nearly 2% from yesterday’s performance. A well-known altcoin trader, Bizmark, noted that Shiba Inu had formed a triangle pattern in the price chart. He predicts that SHIB’s price may gear up for a bullish trend continuation if it breaks above the level of $0.0000128, which may push SHIB’s price to a short-term bullish goal of $0.00001386.
Dogecoin Price Analysis
After a solid bullish trading session, the DOGE price has been rejected from its critical resistance level and is currently hovering in a red region. Moreover, the accumulation rate from DOGE investors witnessed a downturn as the meme coin failed to spark any promising upward journey.
According to CoinMarketCap, Dogecoin’s price trades at $0.092 with a minor uptick. Looking at the daily price chart, Dogecoin hovers around a crucial price zone as it can build up two scenarios. First: if the DOGE price moves above the 23.6% Fib level and breaks its immediate resistance of $0.098, it can test its crucial price level at $0.111, above which it may confirm a clear uptrend.
Second: the DOGE market may see domination from bears if bulls fail to maintain its price above the EMA-100 trend line at $0.085. A breakout below $0.078 may plunge the meme coin by 16% and force it to trade below $0.065.
After trading on a bearish cycle for months, it looks like the second largest meme currency, Shiba Inu price has finally started its move towards $0.1 level. Starting with Bitcoin, Shiba Inu has now spiked nearly 50% in just a few weeks. This comes as a surprise move for the investors as SHIB outperforms its rival currency, Dogecoin.
At the time of reporting, Shiba Inu Is trading at $0.00001245 with a surge of 3.30% over the last 24hrs.
Shiba Inu Price At $0.1 ?
Meanwhile, a veteran trader Ali claims that Shiba Inu is about to hit a target of $0.017. However, he believes that this can happen only if SHIB maintains its trade above $0.011.
It was on January 19 that Shiba Inu had its last trade below $0.000011 after which the meme currency is maintaining its trade between $0.000011 and $0.000012.
Shiba Inu was created in August 2020 which was then viewed as a pump-and-dump scheme. However, now the Shiba Inu network has developed tremendously well and all thanks to the team that is working strongly towards its use cases. The team is achieving this goal through various methods and one such is the business partnerships.
Recently, the Shiba Inu has entered into partnership with Flex network which is a known fraud-proof payment network. This partnership will allow SHIb holders to use their digital holdings in the US and Canada.
Binance Transfers 6.4 trillion SHIB To An Anonymous Wallet
The other reason for SHIB’s continued bull run is the hype for Shibarium, a layer-2 solution scheduled to be launched this year. One of the core developers, Shytoshi Kusams recently posted a testing tweet ahead of the Shibarium launch.
On the other hand, the lead crypto exchange, Binance, has moved 6.4 trillion SHIB to an anonymous wallet in the past day. The same was confirmed by Etherscan data. The reason for such a huge transaction is still unknown.
However, there was no impact on Shiba Inu’s SHIB price action as the currency is still among the top 20 gainers list
Shiba INU price surges marginally, although the bullish market sentiments have spiked within the crypto space. With the fresh interest rates released by the FOMC, Bitcoin prices surged beyond $23,800. Following the star crypto, the majority of the altcoins also spiked beyond their resistance levels. However, SHIB’s price despite accumulating enough strength could rise marginally, failing to flow along the current market trends.
The SHIB bulls appear to remain passive as the value rose not more than 1% at the momentum, indicating the bulls maintaining a safe distance. Moreover, the current trade setup indicates the possibility of a bearish reversal with the formation of an inverted bearish hammer.
Shiba INU prices surged by more than 60% since the beginning of 2023 but have been maintaining a significant descending trend over the past week. The asset failed to surge beyond the crucial resistance despite the recent bullish push triggered by the FOMC. The price is currently struggling hard to defend the $0.000012 level and prevent the rally from re-testing the lower support around $0.000011.
However, the bullish pressure has mounted, while the MACD remains within the positive ranges. On the other, RSI has been sliding down but somehow managed to halt the bearish trend and displayed a minor bullish divergence. Therefore, the possibility of a bullish reversal may not be completely eliminated but could be extended for a while.
The bankrupt cryptocurrency lender Voyager Digital has transferred 270 billion SHIB to Coinbase, Kraken, and BinanceUS over the course of three transactions totaling 90 billion each.
Today, crypto on-chain analytics firm Lookonchain made the announcement on Twitter, where they also shared a link to the transaction details. According to a snapshot that was supplied, the initial transfer was sent to what Lookonchain identified as the deposit address for BinanceUS.
The now-defunct cryptocurrency lender is said to be in possession of 6.8 trillion SHIB, as reported by Lookonchain and corroborated by the data on the Voyager address.
This move has aroused suspicions in the cryptocurrency world, with some believing that the bankrupt crypto lender is trying to cash in on the recent market boom in order to repay creditors, but Voyager has yet to comment on the matter. In addition to this, it has aroused worries about an impending sale of Shiba Inu, which has the potential to have a detrimental influence on the price of the breed.
How Shiba Inu is Doing?
As for SHIB, while continuing its ascent, the value of the meme token is being bolstered by a significant amount of support from the community. In the last thirty days, the price of SHIB has increased by more than 47 percent. Nevertheless, the recent revival of the cryptocurrency market was the primary driver of this spike. It is currently worth $0.00001201.
In conclusion, the most probable scenario for the Shiba Inu price forecast for the month of February is a bullish breakout, followed by a climb that is headed toward $0.000014. This bullish price projection, on the other hand, would be rendered worthless if the price closed below the support line of the triangle, which may set off a downward trend below $0.0000103.
Shiba INU price is flashing bullish signals that may amplify the rally to secure levels beyond $0.00002 in the coming bullish cycle
The Shiba INU price is displaying significant bullish momentum and broke out from the rising wedge pattern. Although the breakout was bearish, the price continued to trade parallel to the support levels and the crucial 200-day MA levels which are acting as a strong base. After, holding up the price levels for quite a long time, bulls were believed to get drained and hence paving way for a notable price drain.
However, the current trade set-up indicates the price to be due for a massive upswing and may maintain a notable rally to reclaim the lost positions above $0.00002 in the coming days.
The rally had been bearish for quite a long time, while the much-awaited launch of Shibarium has also been delayed which may have impacted the trend of the rally. However, the Shib INU price is flashing the possibility of rising by more than 190% which may further flip the market sentiments of the entire crypto space.
- The current trade setup shows the token is closer to undergoing extreme pump in the immediate short-term
- The price is trading within a descending parallel channel on a daily chart which is closer to undergoing a bullish breakout.
- The price is undergoing a corrective zig-zag pattern within the descending channel which may validate the possibility of an explosion toward the north
- The next strong resistance is between $0.00002514 and $0.00003384 which are pretty strong and the token may definitely experience selling pressure on testing these levels
Collectively, the Shiba INU (SHIB) prices are displaying acute strength and if the offered a good opportunity may rise far beyond the expectation.
In recent weeks Shiba Inu (SHIB) has performed really well along with other cryptocurrencies. On January 14, the Doge killer successfully moved beyond $0.00001 resistance after which the currency recovered to a high of $0.0001269.
At the time of publication, Shiba Inu is changing hands at $0.00001198 with a surge of 3.91% over the last 24hrs.
Shiba Inu which is popularly known as Doge killer was created in 2021, eight years after the first meme currency Dogecoin was introduced. Mainly Shiba inu was created for the users to earn maximum rewards for the content that is created. When market capitalization of both the meme currencies are compared, Dogecoin tops the list with $9 billion against Shiba Inu’s 1 quadrillion tokens.
Shiba Inu To Overpower Dogecoin ?
Even though Shiba Inu and Dogecoin are quite similar along with Dogecoin boasting its higher market capitalization, SHIB has managed to gain a lot of traction in a short time. Through upcoming upgrades, new projects and ongoing partnerships, Shiba Inu has now become talk of the crypto space.
- Shibarium’s Atomic Support
Shiba Inu’s upcoming upgrade Shibarium which is a layer-2 Blockchain is set to function on Ethereum mainnet. Shibarium mainly focuses on allowing users to create their own project. Now a Crypto wallet service provider, Atomic Wallet has come in support of Shibarium.
- SHIB Burn
Next is the SHIB burn through which the network can increase demand for SHIB. Recently, Shiba Inu’s developer, Shytoshi Kusama has claimed to burn trillions of Shiba Inu tokens. This statement has an increased social media activity for Shiba Inu.
Moreover, not to forget that Shiba Inu has also got listed in South Korea’s lead crypto exchange, Upbit which has fueled the recent price surge.
Since the beginning of the bull market in 2023, the price of Shiba Inu (SHIB), which is the world’s second-largest meme token, has been increasing along with the price of the rest of the cryptocurrency market. In the previous twenty-four hours, the token’s value has increased by 3.6%, while in the past seven days, it has decreased by 3.75%.
Why Whales are Not Interested in Shiba Inu?
For quite some time now, the whales have been showing a significant amount of interest in the meme token. One of the reasons why many retail investors are hesitant to get into the project is because of this. A sale of tokens by the “whales” would result in a precipitous decline in the price of the token.
On the other hand, the difficulty or unwillingness of whales to drive the token’s price any further may be connected to the need for a brief correction that would cool down SHIB and the market as a whole.
On the 26th of January, there was a significant reduction in the number of SHIB tokens that were burnt on the network. A dip of this magnitude might be seen as a signal of declining network activity, which is unfavorable to SHIB and should be avoided at all costs.
The burn rate, as well as the general activity of the Shiba Inu network, are thankfully seeing a recovery. The burn rate has now returned to the levels that we typically observe when the network is operating normally. SHIB failed to push through the protracted downward trend and made a U-turn at the three-month regression line.
If the current trend on the market continues, the meme token will revert to the downward movement dynamic, at which point it will give up all of the ground it has gained since the commencement of the market’s bull rally.
Despite a recent bearish wave brought on by the broader market headwinds, Shiba Inu (SHIB) has managed to maintain stability above its key support levels. Bullish sentiments on Shibarium have dwindled as a result of the recent lack of noteworthy updates, leaving the asset vulnerable to bearish swings.
Important advancements in the L2 network’s development have come to a standstill this week, leaving SHIB to the general market trend. EMAs are nonetheless often bullish, and the asset is currently trading above the 100-day EMA.
The Shiba Inu coin saw a U-shaped recovery from the 0.0000079 support during the cryptocurrency market’s recovery at the start of the new year. This bullish turnaround has propelled the coin 50% higher in the last three weeks, where it is now trading at the $0.0000119 level.
The R2 and the 200-day Simple Moving Average (SMA), which operate as stabilizing factors close to $0.00001100, support the price movement. The release of US GDP data later on Thursday afternoon could serve as a catalyst. If this happens, Shib would quickly fall toward $0.00001000 in search of support. Due to the overwhelming demand, Shiba Inu’s buy-side volume would skyrocket and swiftly pierce the green ascending trend line towards $0.00001511.
What is the Shibarium bridge?
Shibarium, a Layer-2 scalability platform, is currently being developed by the Shiba Inu developers. The team behind the cryptocurrency project is also developing a bridge that will enable users to transfer assets between Ethereum and Shibarium.
SHIB Knight revealed information and specifics on a brand-new meme-based cryptocurrency initiative that aims to increase the usefulness of Shibarium. Shibarium Bridge will be developed by the Kai Ken Inu team, according to SHIB Knight’s tweet. Kai Ken Inu is the group behind the community-focused project.
To stand out in the cryptocurrency market, investors must have solid fundamentals and fantastic growth potential, and Orbeon Protocol (ORBN) possesses just that. Investors are looking to find out why even Shiba Inu (SHIB) and Cosmos (ATOM) investors are turning their focus on this presale project currently in phase 4.
Shiba Inu (SHIB)
Shiba Inu (SHIB), established in 2020, is a parody of Dogecoin, another joke coin. The decentralized currency called Shiba Inu (SHIB) aims to compete with Bitcoin (BTC) and Ethereum (ETH).
In recent developments, the Shiba Inu (SHIB) developers revealed that the highly anticipated Shibarium would come in early 2023. The primary goal of this L2 solution is to move Shiba Inu (SHIB) transactions away from the Ethereum mainchain and onto a quicker network. This news was praised as the Shiba Inu (SHIB) coin price jumped by 20% in the past week.
However, Shiba Inu (SHIB) is trading for $0.00001228, and a lot has to happen for it to reach $1 so as it currently stands, Shiba Inu (SHIB) should be avoided by those seeking long-term profit yield.
The robust and practical base for various blockchain applications is provided by the decentralized network known as Cosmos (ATOM). Cosmos (ATOM) is a desirable infrastructure for decentralized applications due to its capacity for handling large volumes of trade and its capabilities for compatibility.
Currently, Cosmos (ATOM) is trading for $13.31, a 10% increase in the past 24 hours. The trading volume for Cosmos (ATOM) also increased by 103% in that same period. These are all positive indicators for the future of Cosmos (ATOM), but many crypto insiders predict its rise won’t be noteworthy.
Although Cosmos (ATOM) could see a jump soon, investing in other projects with more growth potential is a wiser idea since Cosmos (ATOM) has limited use cases.
Orbeon Protocol (ORBN)
With a novel fundraising method, a new project called Orbeon Protocol (ORBN) aims to revolutionize the venture capital sector. Orbeon Protocol (ORBN) will be a one-of-a-kind investment platform providing fractionalized NFTs underpinned with actual equity in startup companies.
Since these NFTs will be fractionalized, more Orbeon Protocol (ORBN) investors may purchase them at a much lower cost, low as $1 even. This method will benefit both investors and companies – equity and rewards for investors at a low price, much faster funding, and community growth for companies.
If investors have any security concerns, know that the Orbeon Protocol (ORBN) team has gone to great lengths to protect their funds. A unique “Fill or Kill” mechanism will refund every investment investors make if a business fails to meet its funding goal. This mechanism has been implemented into the smart contract, making it never-ending and transparent. Furthermore, the Orbeon Protocol (ORBN) team has locked liquidity for ten years, proving their long-term commitment to this project.
The presale for Orbeon Protocol (ORBN) is relatively young, with an ORBN token price of just $0.06, which is a massive jump from its initial price of $0.004. And for the benefits like staking and discounts, this price is an excellent deal. Due to high demand, many prominent analysts forecast the price for Orbeon Protocol (ORBN) will surge and reach $0.24 by the conclusion of the presale, so do not miss out on this potential blue-chip coin.
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Polygon Targets Boosted Network Performance And Matic Price In 2023, Shib Holders Still In Losses, Snowfall Protocol Releases Much-anticipated Dex Feature
Bear markets are excellent for ecosystem development, as Snowfall Protocol (SNW), Polygon (MATIC), and Shiba Inu (SHIB) have demonstrated. Snowfall Protocol (SNW) has recently launched its highly anticipated DEX, Polygon has undergone a hard fork, and Shiba Inu’s Shibarium layer-2 network is coming soon. In this article, we’ll explore what these developments mean for their respective ecosystems.
Polygon Hard Fork Will Enhance Network Performance and Boost MATIC Price
Ethereum scaling protocol Polygon recently completed a hard fork to reduce gas spikes and address chain reorganization in the network. The January 17 upgrade was a significant milestone in the Polygon network and for MATIC as it promises to significantly improve Polygon’s network performance and thus attract more users and developers. As a result, the value of MATIC may rise as demand for the token increases.
However, a week later, this hasn’t yet happened. This could be due to the crypto market rally finally cooling down and the possibility that Polygon investors had already priced in this news. Nonetheless, from a long-term fundamentals standpoint, the hard fork will add value to MATIC and the Polygon network, paving the way for future developments.
Most Shiba Inu Holders Are Still in The Red Despite Shibarium-Induced Rally
Shiba Inu has been on a price rally for the majority of January since the ecosystem’s developers announced the upcoming launch of Shibarium, an Ethereum layer-2 scaling network. However, despite inducing a price increase from $0.000008 on January 1 to $0.000012 today, most Shiba Inu investors remain in the red.
According to data from blockchain analytics firm IntoTheBlock, only 35% of Shiba Inu holders are profiting, while 55% sit in losses at the current price. Moreover, 63% of these Shiba Inu holders invested in Shiba Inu more than a year ago, while only 34% invested in the last year. Only 3% purchased Shiba Inu in the last month.
However, Shiba Inu’s prospects still look promising thanks to Shibarium’s promises of scalability, quicker transaction times, lower fees, and an expanded development framework.
Investors Are Apeing Following Release of Long-Awaited Snowfall DEX
The Snowfall Protocol (SNW) much-anticipated DEX is now live, and investor interest has never been higher!
Snowfall DEX facilitates a secure and transparent transfer of assets across the most widely used Ethereum Virtual Machine (EVM) and non-EVM compatible chains. Users can easily use any token address to swap with another token.
The release of Snowfall’s dApp has increased interest in Snowfall Protocol and its native token, (SNW). Investors are pouring into the protocol to get a piece of the less than 15% remaining presale tokens before they are all gone.
Snowfall Protocol (SNW) is your one-stop shop for interoperability and cross-chain communication. It is the first cross-chain bridge for crypto assets and NFTs. Users can exchange stablecoins, bridge assets, stake assets, wrap NFTs for cross-chain swaps, and transfer their assets to any cryptocurrency all in one place.
Snowfall’s unique use case has been a key price driver during the protocol’s presale campaign and is expected to continue pushing it even higher after launch. Snowfall Protocol (SNW) goes live on February 3 with the first listing on PancakeSwap. According to post-launch technical analysis, Snowfall Protocol will easily return 1000% to 5000% returns in 2023. In January alone, Snowfall Protocol (SNW) is up 500% and currently going for $0.191. The launch price will be $0.22 so the current price is a bargain. Take advantage of the discounted price and invest in the next big thing today
For more information on Snowfall Protocol, visit:
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The crypto market has suffered a dramatic and stormy 2022, with the fall of many giant names in the industry. Despite the commotions, crypto assets have found their ground, and market bulls are pushing prices higher. While the market is expected to rebound for a bull run in 2023, it is important to plan by bagging the best coins.
Snowfall Protocol (SNW) is undebatably the best coin to buy before the next bull run. The token has seen exceptional value, price, and demand gain. Even expert technical analysts are confident it would easily surge by 1000x soon. This article will highlight some of the best coins to buy before the next bull run.
Snowfall Protocol (SNW): Multipurpose Hub for Cross-Chain Bridging Solution
Snowfall Protocol (SNW) is a disruptive force driving the change for better blockchain interoperability. The one-stop multipurpose swap and bridging protocol has been deemed the next biggest asset transfer DEX in the DeFi space. Created by long-standing industry experts, Snowfall Protocol (SNW) aims to take out the lingering issue of cross-chain incompatibility by simplifying the swap, exchange, and transfer of funds to and from more than 200 chains.
Like a bridge,Snowfall Protocol (SNW) serves as a highway for driving innovative change and harnessing the full potential of blockchain networks simultaneously. This way, it will remove technical barriers and make interaction easier between chains.
What makes Snowfall Protocol (SNW) the most inclusive bridging solution is that it supports cryptocurrencies as well as non-fungible tokens. For NFT collectors, Snowfall Protocol’s swap/wrap system is a huge win as it will make NFT minting and bridging easier and cheaper.
Due to its multiple use cases and importance, the Snowfall Protocol (SNW) has seen a mighty increase in demand and price. The token is in the final presale stage, trading for $0.191. Technical analysts have predicted a 1000x increase in Snowfall Protocol token value. Since it is underpriced, you still have a chance at securing a life-changing opportunity with Snowfall Protocol (SNW).
Dogecoin (DOGE): Most Valuable Meme Coin
Dogecoin (DOGE) is the biggest meme coin by market cap. The meme coin started as a joke by Billy Markus and Jack Palmer but became a resounding success in the crypto space. Like other cryptocurrencies, Dogecoin (DOGE) has made a sizeable drop due to the bearish condition of the crypto market in 2022.
Dogecoin (DOGE) is relatively underpriced and considered one of the most profitable cryptocurrencies to invest in 2023. In the last bull run, Dogecoin (DOGE) spiked by 1750% from $0.044 to $0.74 in only three months. Its market valuation also rose by tens of billions of dollars.
Currently, Dogecoin (DOGE) is at a deeply discounted price. However, it is seeing excellent demand from investors looking to improve their returns when it moons in the next bull run. The price of Dogecoin (DOGE) is $0.08 – about 88% below ATH. So far this year, the token has grown by almost 20%, and its community is hyped for a bullish trend soon.
Shiba Inu (SHIB): Dog-Themed DeFi Ecosystem
Shiba Inu (SHIB) has gained so much recognition as the potential Dogecoin-killer. The token had a lot of mainstream attention because it offers more than utilities than just being an ordinary meme coin. The Shiba Inu token (SHIB) and its DeFi ecosystem projects pride itself as a leading name in aiding the adoption of blockchain technology and web 3.0.
At its peak, the Shiba Inu token (SHIB) gained more than 20,000% to clinch an all-time high price of $0.000088. Much of its astronomic price gain was due to numerous periodic developments mapped out for the project. Less than two weeks ago, Shiba Inu (SHIB) launched Shibarium, an Ethereum-based layer-two solution. This will help anyone enjoy open, scalable, low-fee, and high-speed transactions.
Shiba Inu (SHIB) is currently trading at $0.000011, about an 88% drop from ATH price. Regardless, Shiba Inu (SHIB) is poised for greatness. Its accessibility, flexibility, numerous utility, web3, and metaverse objectives are mesmerizing. 2023 is already looking great for the token with the launch of Shibarium.
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Shiba Inu (SHIB) and Dogecoin (DOGE) Are Doing Well Despite The Economic Uncertainty But Snowfall Protocol (SNW) Is Set For 1000x Gains!
Shiba Inu (SHIB) and Dogecoin (DOGE) have been some of the most popular cryptocurrencies in recent months, gaining significant attention from both retail and famous investors. Shiba Inu (SHIB) is a meme token based on Ethereum’s ERC-20 standard, while Dogecoin (DOGE) started as a joke cryptocurrency but has since become popular and increasingly valuable.
However, investors can now look beyond Shiba Inu (SHIB) and Dogecoin (DOGE), as Snowfall Protocol (SNW) could be the next big cryptocurrency on the block. With its presale ending soon and the launch date set for February 3rd, getting in now would mean being one of the first to experience 1000x gains
What Is Snowfall Protocol (SNW)?
Snowfall Protocol (SNW) is the first of its kind. SNW is the first cross-chain transfer ecosystem built for fungible and non-fungible tokens. Their dApp enables users to swap assets across the most widely used EVM and non-EVM compatible chains.
As the leading cross-chain ecosystem, Snowfall Protocol (SNW) is building the highways needed for millions of people to communicate with every blockchain.
Imagine how difficult it would be to get essential goods and products without a highway in real life. The same applies to the blockchain, as digital transactions will be limited if there are no pathways between different networks.
Snowfall Protocol (SNW) is setting up these highways, connecting each blockchain, and allowing users to freely swap assets securely and efficiently.
Snowfall Protocol (SNW) Beats Both Shiba Inu (SHIB) and Dogecoin (DOGE)
Think about it. With its low entry price of $0.191 in the presale, Snowfall Protocol (SNW) has the potential to become one of the most widely used cross-chain transfer platforms. The protocol is set to be a game-changer as it can connect users across multiple blockchains and enable them to securely swap assets with minimal fees and maximum security.
Sure, Shiba Inu (SHIB) and Dogecoin (DOGE) both have strong communities. But Snowfall Protocol (SNW) could be adopted by many different communities in the blockchain industry. Shiba Inu (SHIB) and Dogecoin (DOGE) are siloed on Ethereum but Snowfall Protocol (SNW) benefits users on a variety of blockchain networks.
So don’t miss out on the opportunity to get in on Snowfall Protocol (SNW) while it is still in its presale! With its potential to fuel 1000x gains in the long term, now is the best time to invest in Snowfall Protocol (SNW).
Shiba Inu (SHIB), Dogecoin (DOGE), and Snowfall Protocol (SNW) – Which Is The Most Profitable?
Some people made millions on Shiba Inu (SHIB) and Dogecoin (DOGE). But the hype is finished for them. Without a strong use case, Shiba Inu (SHIB) and Dogecoin (DOGE) have likely peaked already and are not going to break any new records. On the other hand, Snowfall Protocol (SNW) is still in its early stages and could be adopted by millions of users in the future.
❌ Shiba Inu (SHIB)
✔️ Snowfall Protocol (SNW) – 1000x Gains Potential!
Shiba INU Coin News Today: SHIB Price Explodes After Being the Most Favoratie Token of Ethereum Whales
The crypto markets seem to have inculcated acute strength as the bears are not finding enough room to expand. After maintaining a narrow upswing since the beginning of 2023, the SHIB price exploded and has risen by more than 21% since the early trading hours. Apart from breaking the descending trend line that it maintained for nearly 5 months, SHIB has become the most preferred token among the top 100 Ethereum whales.
As per the data from the Whalestats, the Shiba INU coin has entered the list of top traded assets, top sold tokens and top purchased tokens. It is also featured in the top holdings of these whales. Other than Ethereum, the ETH whales hold nearly 505.52 billion SHIB worth more than $6 million.
SHIB Price Analysis
After receiving enough boost from the positive market sentiments and massive whale accumulation, SHIB price now appears to be poised to reach the next target above $0.000013. The price underwent a parabolic recovery to overcome the losses incurred after the collapse of the FTX exchange. However, a fresh bullish divergence is witnessed that may uplift the price towards the interim resistance.
The SHIB price broke out of the falling wedge during the previous trading day and surged magnificently to reach levels above $0.000012. However, the price is facing a minor rejection after testing the resistance at $0.00001299 and experiencing a pullback to reach $0.00001261 at the press time. However, the RSI is maintaining ascending trend while MACD just displayed a bullish cross-over within the positive ranges.
Therefore, after a brief consolidation, the Shiba INU may resume the upswing intending to close the weekly trade above $0.000015. Presently, SHIB’s price is trading around $0.00001262 with a jump of 20.63% in the past 24 hours with a market capitalization of $6.9 billion and a trading volume of $761.66 which witnessed a huge jump of 133.62%.
Dogecoin (DOGE) Price Analysis
Dogecoin, similar to other cryptos ignited a significant upswing since the beginning of 2023 which assisted the price to recover the loss incurred in the past 30 days.
The upswing was limited to levels close to $0.09 which later fell prey to a minor bearish action. However, the token still trades under the bullish influence and is believed to manifest a giant price explosion very soon.
The analyst here highlights the previous touch points of the DOGE price rally. The price, each time tested the upper resistance, witnessed a significant rejection that compelled the token to mark the lows.
Interestingly, the price followed a similar trend and rebounded each time it tested the lower support. Hence, considering the previous bearish crackdown, the analyst believes the DOGE price could be due for a massive breakout.
Shiba INU (SHIB) Poised to Reach the Next Target
Like many other tokens, the Shiba INU price also maintained a consolidated trend for quite a long time. The price later broke out and surged heavily to mark new highs close to $0.000011 and is displaying bullish momentum to prevail for a long.
The market optimism is growing extensively this week and hence a minor pullback may be expected any moment from now. After undergoing bearish action throughout 2022, it’s very tough for the crypto space to re-ignite a crypto bull run.
Therefore, after a gigantic price surge, SHIB price could be poised for a minor downswing. However, a correction may still trigger a bullish move that may enable the price to reach the upper target above $0.0000133.
The Shiba Inu (SHIB) cryptocurrency, which is the world’s second-biggest meme token, has been doing quite well as of late. The value of the token has increased by 3.7% in the last twenty-four hours and by 24% in the last seven days. This comes after a short period during which it seemed to be falling, but it has now returned to its upward trend.
Community Remains Excited for Shibarium
Following the unveiling of the first glimpse of SHIB’s forthcoming layer 2 network Shibarium, which is something the community has been eagerly expecting and is pretty thrilled about, the token seems to be continuing its rally along with the rest of the market.
The developers have emphasized that Shibarium will be made available in stages. Inside the Shibarium protocol, the native token of the project, which is going to be referred to as BONE, will be used to pay for gas transactions as well as reward validators and delegators.
It is expected that Shibarium’s beta testnet, which is a blockchain that simulates the operation of the actual world, would go live in just a few weeks.
In addition to its usage as a cheap settlement for decentralized apps (dApps) established on the network, the developers of Shiba Inu have said that Shibarium would have an emphasis on metaverse and gaming applications.
This is particularly important considering that the NFT sector is anticipated to witness another massive hype again in the near future.
It’s also possible that the launch may contribute to SHIB and other related cryptocurrencies having solid foundations and massive price surges.
It is interesting to note that any transaction carried out on Shibarium will result in the destruction of a certain quantity of SHIB tokens; however, the precise number that will be destroyed has not yet been determined.
SHIB’s signals at press time are showing neutral, but a bit heavier on the bears’ side, so let’s hope that the current bullish action overpowers the bears and sticks around for a long time.
Is Shiba Inu Preparing For A Boom In 2023? SHIB Price May Kick A Massive Explosion As Bulls Gain Strength
The last two months have been a nightmare for the entire crypto space as the altcoin market experienced its bottom levels since its bull run in 2021. Meme coins like Shiba Inu and Dogecoin have become the headlines as they dropped by 50% of their bullish values.
However, the founding team behind Shiba Inu seeks to approach a bullish way by introducing SHIB to the metaverse and unveiling a new plan at the South by Southwest (SXSW) festival 2023, which will be organized in Austin, Texas.
Additionally, the Shiba network brings more eventful moments to the community as the hype around the release of the beta version of Shibarium, a layer-2 blockchain solution, adds more value to the SHIB token in building bullish expectations among investors.
Shiba Inu Forms A Breakout Pattern!
Shiba Inu price rallies upward with a smooth bull run due to positive news from the recent CPI data and projects itself to extend its bullish momentum further. Moreover, Shiba Inu has now focused on its burning mechanism as the SHIB army believes in “More Shia Inu burned, the higher the token’s value,” resulting in an increased whale accumulation with a hope of a future bull run.
As the crypto market’s popular meme coin Shiba Inu breaks above its consolidation range, the price trend of SHIB brings positive vibes to the community with a massive explosion ahead. A prominent crypto trader and analyst, Klejdi Cuni, predicts that Shiba Inu may surge more and break its third predicted level of $0.00001332.
The analyst previously predicted specific resistance levels for the SHIB price, and the initial resistance level was $0.00000961, which has already been broken. The analyst now believes that the SHIB token may vertically climb to its second target zone, which is at $0.00001165; if broken, the meme coin may head toward its third target zone, bringing an excellent bullish rally after consecutive boring trading sessions.
What Lies Ahead For SHIB’s Price?
The Ethereum-based Shiba token decentralized community has gathered a wide range of investors and users due to its potential announcements and updates to its network. As Shibarium’s announcement and its official digital asset, Bone ShibaSwap (BONE) promise a joyous future ahead, SHIB’s price inches closer to forming new tops.
As of writing, Shiba Inu trades at $0.00001032, with a rise of 0.84% from yesterday’s performance. The last few days must have been a profitable session for altcoin traders as Shiba Inu gained over 30% and now attempts to touch extra heights with bullish announcements.
Analyzing the daily price chart, Shiba Inu’s price now completely depends upon its social hype and future announcements, and any downside momentum can be from negative market sentiments. Shiba Inu has recently failed to break its resistance near the EMA-100 trend line at $0.00001119 and made a slight downward correction near 31.8% Fib levels. The RSI-14 indicator moves around the level of 72, hinting at an overbought region which may soon trigger a price reversal.
If SHIB holds its price above the EMA-200 level, the buying pressure may increase drastically, pushing the token’s price to Bollinger band’s upper limit of $0.00001368. Furthermore, the MACD line supports a breakout as it trades exponentially with the SMA-14.
However, a bearish trend may be witnessed if SHIB’s price breaks below the 23.6% Fib channel and takes support at EMA-100 at $0.00000961. As bears are still in the driving seat, a validation of the bearish analysis may bring a sudden downturn for the SHIB token as it can slump hard to its December price levels if it comes across negative sentiments.
For those not familiar with Floki, it is a popular meme coin named after Tesla founder Elon Musk’s Shiba Inu dog.
Like the Dogecoin (DOGE) and Shiba Inu (SHIB) cryptocurrencies, Floki (FLOKI) is a popular meme coin with millions of fans all around the world and it has been trending recently with Dogecoin and Shiba Inu as the crypto market experiences a resurgence.
Floki is the third most popular memecoin after Dogecoin and Shiba Inu, and it was recently ranked by popular financial news website Finbold as a top memecoin to watch in January 2023.
Why You Should Pay Attention to Floki and Its Upcoming Announcement
Floki bills itself as “the people’s cryptocurrency.” The popular memecoin has 420,000+ holders and an army of social media followers that are passionate about it and can’t stop talking about it; as a result, Floki is consistently ranked among the most talked about crypto projects and regularly trends on Twitter.
Floki recently posted a tweet that they will be making an announcement on the 17th of this month:
The tweet about the announcement, which has got a lot of tongues wagging with speculation of what it could be, has been viewed 410,000 times at the time of writing, which is a sign of strong interest in both the announcement and the Floki project during a period many widely consider to be a bear market.
Dogecoin, Shiba Inu, and Memecoins: Could Floki’s Announcement Be a Catalyst for Memecoins?
Memecoins have shown strength and resilience during the bear market, and contrary to the expectations of many they did not die with the bear market. In fact, memecoins have tended to surge and trend higher during the various relief rallies the current bear market has experienced.
Floki’s upcoming announcement has renewed interest in the popular cryptocurrency as well as memecoins in general and it very well could be a catalyst for Dogecoin, Shiba Inu, and a host of other memecoins.
Shiba Inu, a popular cryptocurrency, achieved a major milestone yesterday when it eliminated a zero from its value due to a massive spike in prices. This milestone comes amid an enormous rally in the crypto market, where other cryptocurrencies, including Bitcoin, have also seen significant growth.
The recent surge in cryptocurrency prices is attributed to increasing mainstream adoption of these digital assets, as well as growing interest from institutional investors. Many experts predict that these digital assets will continue to see growth in the coming months and years, indicating a bright future for the crypto market as a whole.
Shib’s Current Value
As of now, the current value of Shiba Inu (SHIB) is showing significant growth, with the current market price being recorded at $0.000011 USD, according to CoinMarketCap.
Additionally, the trading volume of SHIB within the last 24 hours is $553,570,747 USD. The crypto has seen a 14.23% increase in the last 24 hours and is currently ranked #15 on CoinMarketCap with a live market cap of $5,944,296,217 USD and a circulating supply of 549,063,278,876,302 SHIB coins.
This is a significant achievement for the crypto, which had struggled to return to its former high of above $0.00001 following a collapse on FTX in November, where it fell to a low of $0.00000850. The recent rally is a positive development for the asset and the crypto market as a whole.
Key Developments For The Asset
The recent elimination of a zero from Shiba Inu’s (SHIB) price is attributed to several significant events that have taken place in the crypto ecosystem.
Binance reduced the number of SHIB in circulation by staking 4T units on January 10th, CoinGate, a leading cryptocurrency payments processing company, expanded SHIB’s use as a payment method by partnering with Wix to enable European merchants to accept SHIB payments.
Additionally, the team behind the development of Shibarium announced that the upcoming layer-2 scaling network would be able to burn SHIB tokens, reducing the crypto’s supply.
Last week, CertiK ranked ShibaSwap, SHIB’s decentralized exchange, as the most-watched DEX on the platform. All these events have positively impacted the value of SHIB.
With the Bitcoin prices displaying significant strength, one of the popular memecoin, Shiba INU is also forecasting its potential to slash a zero in its price very soon. The price had experienced a steep descending trend ever since the markets collapsed in November 2022 due to the collapse of FTX.
Moreover, the descending trend prevailed until the end of the year 2022 as the SHIB price marked the lows around $0.00000778 and close the yearly trade slightly higher than these levels.
The SHIB price is currently trading at $0.000009137 with a 24hr jump of 2.55% as the community sentiment and the market news drove the price close to the $0.00001 mark. More indicators are flashing bullish signals at the moment as the Bollinger bands exploded towards the north after experiencing a squeeze during the first few days of 2023.
However, the current trade setup signifies that the price is due for a major upswing of more than 110% very soon.
A popular analyst, discovers the formation of an ‘Adam & Eve’ pattern which is largely considered as bullish. It is one of the varieties of a double bottom with spiky first bottom and a u-shaped second bottom. However, to began with the bull run, the Shiba INU price could complete the pattern first by reaching beyond $0.00002 with a 100% jump from the current levels in the next couple of months.
However, on achieving the neckline of the pattern, the Shiba INU prices are believed to retrace slightly which could be followed by a massive upswing, probably towards its ATH. Importantly, in case of any pullback, the Shiba INU prices are required to sustain above $0.00000820 to $0.00000830.
The medium targets for the Shiba INU (SHIB) price rally are around $0.00001300 to $0.00001700 while the long-term target hovers around $0.000035.
The crypto markets have been under a significant bullish influence since the beginning of 2023 and hence the bullish start is expected to keep up the prices to some extent. While the Bitcoin price after breaching $17,000 appears to be stuck under $17,500.
The ease in the BTC price rally has enabled the altcoins like Cardano, Polygon, and Shiba INU to undergo a notable upswing. The SHIB prices are on the verge to break out of the consolidation and rise high in the coming days.
The SHIB price has dropped by more than 70% from its highs at the moment in the past few days, it recorded a jump of over 25%. Meanwhile, the bears are trying very hard to validate their existence but excessive compression may lead to an explosion that is approaching very fast. A popular analyst Captain Faibik believes the SHIB price is due for a 250% to 280% upswing in the mid-term.
As the SHIB prices are testing the upper resistance, the analyst believes that the token is due for a massive upswing and also provided a reason for the speculation of a breakout.
“SHIB breakout is around the corner so keep your eyes on it..!!
-Descending channel Formation in 1D TF
-Buying volume Coming in
-Expecting Breakout Soon
+250%-280% Profit Potential in the Midterm..”
Shiba INU (SHIB) price is hovering around $0.000008957 with a jump of 3.02% in the past 24 hours. The market capitalization of the token also witnessed a 2% jump recording levels around $4.92 billion with a trading volume of $440.59 million. The SHIB price is attempting for a parabolic run to reclaim the levels close to $0.00000935 beyond which erasing a zero from its value may not be a tedious job.
The Shiba Inu (SHIB) token, the second biggest meme token in the world, has been doing quite well as of late. The token’s price is now $0.000008891, up nearly 3% percent in the last twenty-four hours and 8.77 percent in the last seven days.
The so-called “whale effect” may be credited for helping to drive up the price of Shiba Inu. As reported by CoinPedia yesterday, whales have amassed a staggering number of SHIB tokens over the previous several days.
SHIB is the Second Most Secure Crypto Project
The good news keeps coming: blockchain security company CertiK has classified SHIB as the second most secure cryptocurrency project out there. CertiK believes that the most notable aspects of the Shiba Inu project are that it is decentralized, has a significant market cap, has been operating for a long time, provides bug bounties, and has a large social following.
As can be seen in the tweet sent by CertiK below, the meme token achieved a Skynet Trust Score of 93 in CertiK’s Web3 Security Leaderboard report, which allowed it to secure the second spot on the leaderboard, after only Polygon.
This is an average of score of 92 for the Security category and a score of 95 for the Market & Community category. These scores are determined by analyzing the relative security, market performance, and social sentiment of a cryptocurrency project.
In addition to this, Shiba Inu has achieved the position of first place in the list of the Top 10 Watchlisted DEX Projects on CertiK, the report shows. Shibarium’s long-awaited debut as a Layer-2 scaling platform is another factor that may have contributed to the recent increase in the price of SHIB.
Shiba Inu after rebounding back within the descending triangle is striving to sustain the rising momentum of the token.
Despite this uptrend, SHIB cryptocurrency still has to contend with the possibility of a drop if bears decide to stop the positive trend. Meanwhile, sellers are continually attempting to pull back during intraday trade, although volume movement is still weak. It is still highly likely that the meme coin will keep up its bullish movement, which is exactly what all of us are hoping would happen.
The Shibarmy continues to support the metaverse initiative that was revealed last year. The project’s Lands are selling quickly, alongside the tokens required for trading within the shib.io metaverse.
The most well-known meme coin, meanwhile, ends the year on a high note after increasing by +3.22% over the past 24 hours, pushing the coin’s price to €0.00000816. A respectable performance was achieved by the trend, which began shortly after New Year’s Eve and gave Shiba Inu a 7.33% increase in value in just 7 days.
Whales Accumulate Shiba Inu – Binance Now Largest Holder
A huge Shiba Inu transfer was recorded on the Ethereum blockchain, according to data from the cryptocurrency transaction tracker firm Whale Alert. This transaction involved the transfer of 3,373,256,285,000 SHIB, which was worth up to $28.7 million at the time of the transfer.
For this transaction, there were no known addresses for either the sending or the receiving parties. The sender of this transfer is almost certainly a whale because it entailed moving a sizable quantity of money.
Furthermore, according to data by etherscan.io, Binance, the largest cryptocurrency exchange in the world, now has 83 trillion SHIB, or $738,549,274 ($738.54M), stored in two of its related wallets, designated “Binance 28” and “Binance 8” making it the largest holder of the token. In addition, Shiba Inu was named by Binance as the third-most-watched cryptocurrency for the year 2022, behind Ethereum and Bitcoin.
Shiba Inu Burning
According to the SHIB burn website, the Shiba Inu burn rate increased by more than 1390% in the previous 24 hours. The massive burn rate is connected to both the anticipated early 2019 launch of the Layer-2 blockchain system Shibarium and the whales’ comeback.
In the past 24 hours, 410,384,426 SHIB tokens have been burned altogether. The burn rate has increased by 1395.89% over the previous day.
Since there will be fewer tokens in circulation as a result of the mass burn, prices will increase. One transaction reveals the burning of 14,999,999 SHIB tokens in an effort to condense the supply of the meme cryptocurrency.
Why is SHIB Price Surging?
This recent burn has resulted in an almost 5% increase in SHIB. There were also noticeable gaps in the price of SHIB between its burn and its occurrence. SHIB was trading at $0.00000832 prior to the burn and then skyrocketed to approximately $0.00000900 following the burn. SHIB’s value could increase more than anticipated if there is greater demand than supply over time and more SHIB burned.
The second biggest meme token in the world, Shiba Inu (SHIB), had a strong start to 2023, with a consistent rising trend within the first few days of the year. However, the asset appears to be moving in the other way today, with a drop that has nearly erased the entirety of its gains acquired during its latest short-lived rally.
SHIB to Undergo Layer-2 Upgrade
Coming soon to the Shiba Inu ecosystem is the Shibarium project, a layer-2 blockchain. The layer-2 blockchain is a scaling mechanism designed to alleviate the slow transaction performance of Shiba Inu’s Ethereum-based host chain.
Recently, Shibarium has decided on Bone ShibaSwap (BONE) as its utility token for usage in payment of blockchain transaction fees and other purposes. Additionally, BONE enables users to vote on forthcoming project proposals.
The launch of the Shibarium project has not been officially announced, however it is anticipated that it will occur early this year. In December, the developer alias Shytoshi Kusama promised that Shibarium will be released shortly. Also, the anticipated inclusion of additional features, such as the burning of SHIB tokens, may boost the value of Shiba Inu.
Whales Accumulate Trillions of SHIB
On-chain data shows that “crypto whales” have been buying up Shiba Inu tokens by the billions. The number of Shiba Inus held by Ethereum’s “whales” has increased significantly. SHIB token is now the most traded token among the top 1000 whales, according to statistics compiled by Whalestats, a blockchain tracker and whale surveying tool.
These whales have been using Shiba Inu as their preferred smart contract, causing it to become the most used among this group. In addition, Whale Alert reported that a massive transfer of Shiba Inu tokens, over 3.37 trillion, took place from one unknown wallet to another. The sending wallet is now empty, while the receiving wallet holds the full amount of transferred tokens. At the time of this report, Shiba Inu was being traded at a value of $0.00000843.
Shiba Inu is a meme-based cryptocurrency, named after the popular Shiba Inu dog breed and featuring it as its mascot. It is also a deflationary coin, with a limited supply of approximately 1 quadrillion tokens.
As more tokens are bought and removed from circulation, the value of the remaining tokens is expected to increase. This scarcity can be appealing to investors seeking a potentially high return on their investment.
The coin’s strong presence on social media platforms, such as Twitter and Reddit, has helped to generate buzz and hype around it. It is impossible to predict the future of any cryptocurrency, but it is clear that SHIB has gained the attention of ETH whales and many other investors.
Shiba INU bears appear to have again activated as the prices are falling apart for the past few hours. The price is experiencing extreme selling pressure due to which it has plunged by more than 6% in the past 24 hours and still counting. The RSI is heading south, the price rejected the crucial 50-day MA levels, and MACD displays an accumulated bearish volume while the cross-over is still distinct.
This may indicate the bearish trend may be continued for some more time which could drag the price lower to reach the support zone below $0.0000082. However, despite the bearish clouds prevailing over space, the current trade set-up appears to just trap the short traders as the price is closer to manifesting a notable upswing. But well before the bullish breakout, the price is closer to manifesting a notable pullback.
Supply on Exchanges Surge
The supply on exchanges denotes the percentage of the tokens stored in their wallets. This signifies the presence of liquidity in order to carry out the buy or sell trade. The supply has reached rock bottom levels which had created a liquidity crunch, and with an intensified demand, the price was set to inflate. However, the slight rise in the supply has eased the pressure mounting on the demand which may assist the bears to dominate over the crypto for some more time.
Whales Intensify Their Accumulation
Whales largely do not contribute towards the volatility of the asset which is much required for the price to rise. However, if the whales again start accumulating, it indicates the price may turn bullish in the near future but may remain under bearish captivity for now. As they usually accumulate the tokens in the bearish market.
Daily Active Address (DAA) Consolidates Around the Lows
The daily active address indicated the number of addresses interacting with the platform regardless of whether they want to carry out a buy trade, a sell trade, or just swap the tokens. An increase in the metrics indicates the high involvement and interest of the market participants over the network.
However, the DAA in the case of Shiba INU remains drowned, indicating the shift of focus of the market participants over the other assets. This may largely impact the price as the volatility may be slashed in the coming days.
MVRV-Z Score Heading Towards Lows
MVRV is an indicator that determines whether the asset is undervalued or overvalued, and Z-score enables you to compare the current price to its historical moving average price. It offers the fair value of the asset by comparing the market value with its realized value and determining if the prices are overvalued or undervalued. Presently, the values have declined to hover within the negative levels and hence indicating the price to be under a bearish influence.
Collectively, Shiba INU (SHIB) Price appears to remain under bearish pressure for an extended time frame, beyond which a suitable upswing may be framed. However, until then the short traders may place their bets and on liquidation, the SHIB price may be compelled to rebound and spike high.
Shiba Inu (SHIB) suffered a similar fate to other cryptocurrencies in 2022, experiencing a steep pullback during the crypto winter of that year. Despite this, the meme currency managed to remain in the spotlight, with some developments taking place.
However, it has struggled to gain bullish momentum.
SHIB’s Major Developments In 2022
In April 2022, Shiba Inu announced the Shiba Inu Metaverse, which featured Shiba Lands open for public purchase.
The project’s goal was to utilize the entire Shiba network, including its tokens SHIB, LEASH, and BONE. In February, Shiba Inu launched DOGGY DAO on ShibaSwap to move the network towards decentralization.
Additionally, the network aimed to launch Shibarium, a Layer-2 blockchain, to increase transaction speed and allow for more transactions to occur simultaneously. However, the launch was delayed until 2023.
Despite significant whale activity, the price of SHIB was not impacted.
Will 2023 Be A Good Year For SHIB?
With these developments and others that are planned for the future, it is possible that SHIB’s fate could improve in 2023. It is worth noting that Shiba Inu had a relatively high burn rate last year, but the network is planning to provide a better user experience going forward.
Additionally, the Shiba Inu network is planning to launch a new token called TREAT.
These developments are surely expected to give a major push to the SHIB price in the coming days.
As the markets are steeping into a fresh yearly trade, the bearish clouds are expected to perish. Meanwhile, the possibilities of a decent upswing emerge as the top 2 memecoins appear to be preparing for a giant move ahead. Shiba INU’s Shiabrium is all set to explode in 2023 while Dogecoin is expected to be pushed as Elon Musk continues to remain Twitter CEO.
Shiba INU’s lead developer took on Twitter recently to update the progress of Shibarium. As per the update, the layer 2 protocol is on the final stage of its creation. The SHIB price which is consolidating around $0.000008 but sliding slowly towards the bottom.
The SHIB price is continuing to trend within a falling wedge which is considered as bullish largely. With an extended bearish pressure, the price is believed to drop towards the lower support of the channel in the coming days which may trigger a rebound to flip towards the north and regain the levels above $0.00001 during Q1 2023.
Moving ahead, Dogecoin price continues to trade below $0.07 and is constantly facing rejection above these levels. The price is testing the crucial support levels and trying to hold right above these levels. A significant bearish pressure may compel the price to break below the last point of defense at $0.056 which cannot be completely discarded.
The dropped volume and slashed volatility are pointing towards the bearish outlook for the crypto. Therefore, with the beginning of the fresh yearly trade, the prices are believed to drop heavily, dragging the price towards 2022 lows. Here if the bulls re-enter strongly, a significant upswign may lead a notable rebound reclaiming the levels at $0.07 initially and later at beyond $0.088.
The memecoins are believe to regain bullish momentum in 2023, due to which a notable rally may uplift the Shiba INU (SHIB) & Dogecoin (DOGE) prices, once the bulls are triggered after meeting the lows.
Shiba Inu is one of the market’s most well-known meme coinage. Many are attempting to determine the coin’s future for the months and years ahead as it draws more investors.
Shiba Inu’s value dropped significantly as the general cryptocurrency markets became bearish in 2022. As of November 2022, the popular meme token had lost 74% of its value since the beginning of the year.
At its all-time high, SHIB reached a price of $0.00008845. It is now trading at $0.0000090 per token. SHIB, like many other coins, has been impacted by the repercussions of the FTX meltdown, which has pushed the price down to these levels.
Let’s examine what the predictions for the currency in 2023 show.
Shiba Inu Community Bullish for 2023
The layer 2 Shibarium’s debut and prospective new payment integrations have the Shiba Inu community optimistic for the coming year. From its peak in October 2021, the token has fallen by more than 90%. Will it be able to meet the community’s high expectations in 2023? is the question on everyone’s mind.
Shytoshi Kusama, the lead developer, took to Twitter to inform the community that Shibarium would be released very soon, but not during the New Year’s Eve party. He also affirms that next year will be ‘critical for humanity,’ implying that Shibarium will be released in 2023.
Shibarium is being developed as a layer-2 blockchain to increase the scalability of Ethereum, which serves as Shiba Inu’s host chain. Shibarium is being developed by the Shiba team with unique features for the Shiba ecosystem.
Kusama anticipates that the Shibarium upgrade will be a significant advancement for the Shiba Inu ecosystem and that 2023 will be a pivotal year for Shiba and the entire planet.
Businesses to Accept SHIB Payments?
Shiba Inu’s popularity has led a number of companies to start taking payments in meme coin. Businesses like GameStop and Nordstorm accept payments in SHIB through Flexa, and Twitch fans can use meme coins to support their preferred streamers. Shiba Inu payments are also being promoted by NOWPayments. However, businesses face issues as a result of regulatory ambiguity and a huge concentration of Shiba Inu tokens in whale wallets.
What Does 2023 Look Like For Shiba Inu?
The burning question is whether Shiba Inu can reach $1. The only way this would be possible is if the token burns its way to $1. This would mean burning trillions of tokens which is practically impossible. Shiba Inu will increase by 760% to $0.00008 if it can reach its all-time high. But from there, it’s a long way to $1. For the time being, the bearish cycle in the crypto market continues and it is best to seek more achievable targets.
In the crypto market, ApeCoin (APE) and Shiba Inu (SHIB) are two blockchain-based projects that are popular. When they were launched, both started solid and profitable.
Now, with the weak market, ApeCoin (APE) and Shiba Inu (SHIB) investors are nothing but disappointed. With the continuous downward trend, investors are more interested in investing in other alternative investments like Sparklo.
Investors Are Not Interested In Shiba Inu (SHIB)
Most cryptocurrency investors feel unmotivated to invest in Shiba Inu (SHIB). That’s because Shiba Inu (SHIB) was a short-lived cryptocurrency.
Some cryptocurrency whales, such as Elon Musk, bought Shiba Inu (SHIB) tokens in massive amounts. After profiting, they sold their cryptocurrencies. As of now, nobody is interested in investing with Shiba Inu (SHIB).
ApeCoin (APE) Is Trapped In The Bear Market
ApeCoin (APE) project received a lot of positive attention with the increasing popularity of NFTs. There was a time when everyone wanted to become a member of the Board Ape club.
Currently, the hype for the NFT market has gone down, and the bear market is not doing good with cryptocurrencies like ApeCoin (APE). ApeCoin (APE) was once being traded at $27, but its current value of it is just above $4. Hence, investing in ApeCoin (APE) will not be an excellent decision to make until the bear market comes to an end.
Investors Should Think About Investing In Sparklo (SPRK)
Not all cryptocurrency projects are doing poorly now in the bear market. Some are stuck, but some are staying stable and strong. There are a few new initiatives in the market, and they are still in their presale stage. One example is Sparklo.
Sparklo is an alternative investment platform allowing people to invest fractionally in silver, gold, and platinum. Each investment will result in an NFT being minted and fractionalized.
The presale price of Sparklo is only $0.013, but this is expected to grow by 4,000% in the next three months. With this potential, there is no doubt Sparklo will become the next big thing in the crypto world.
To assure investors of how secure the investment is, Sparklo has been successfully audited by Interfi Network. Also, its liquidity is locked for 100 years, and the team tokens are locked for 1,000 days.
|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|
The price of SHIB surged to a new all-time high in October of 2021. However, from that point on, everything for SHIB holders got worse because of the poor macroeconomic environment and the instability in the cryptocurrency market. With its prices falling by more than 70% in 2022 due to high-interest rates and other factors, SHIB has had a terrible year.
Trader il Capo Of Crypto recently said that SHIB would reach a new low in 2023. Taking to Twitter, he predicted that the price of the SHIB coin will fall all the way to $0.00008616. In October 2021, the SHIB price reached a brand-new record high. Another trader agreed with Capo and replied :
“Agreed, SHIB has a very aggressive bear target, like ~95% below current levels according to its H&S pattern.”
On the flip side…
Despite the underwhelming performance of SHIB coins and the negative mood of the crypto industry, the project and its community have made numerous substantial steps to drive utility and support additional use cases.
Starting with the introduction of the P2E-based Shiba Racing Game, the Layer-2 Blockchain solution known as Shibarium, and the SHIB Metaverse. Shiba Inu is one of the most searched cryptocurrencies this year, according to the most recent research in 2022, which was done by Google search engines directly.
There was a recent tweet from SHIB Super Store, that Travis Johnson, a game developer, used the official SHIB Burn Portal to send a massive 32,314,923 (32.31M) SHIB to the dead wallet in one single transaction.
Shiba Inu’s burn rate increased by only 32.87% over the previous day as a result of the mentioned burn transaction. According to data given by Etherscan.io, 10,410 new holders have joined the Shiba Inu Community just in the last two weeks.
The crypto space again appears to have descended under the bearish influence as the major crypto lose their respective gained levels. While Bitcoin price is hovering around the $17,500 level, Ethereum price has dropped below the $1300 mark. Meanwhile, the Shiba INU price which has been bearish for quite a while is expected to slash hard offering a good buy opportunity.
The SHIB price rally appears to have weakened to a large extent wherein the sellers tend to place bets with high leverage to drag the price lower. Along with the price remaining within the bearish captivity, the trading volume also suffered a huge drop of more than 31% which is largely composed of selling pressure as the buying volume has waned off.
However, in the coming couple of days, the sellers are believed to gain more influence to drag the price lower.
The technical indicators on the daily chart suggest that the popular meme coin is all set to pull a massive leg down. The RSI is below the neutral in the daily chart, trading within a stagnant trend, pointing towards the south. Meanwhile, the MACD is also flashing bearish signals as a crossover is yet o take place which may drag the price below the immediate support at $0.000008 or even lower.
Besides, a slight increase in traders’ sentiments is witnessed as the daily active address recorded a steep drop in the past couple of days. The addresses which had spiked significantly high to reach more than 17,000 has dropped to as low as 1854 during the early trading hours. However, the number of accounts trading on SHIB remained constant since the beginning of the week, indicating the undermined buying pressure.
Therefore, until the Bitcoin (BTC) price surpasses and sustains above $18,200, the markets could remain unpredictable. This may push the Shiba INU(SHIB)’s price above the resistance which may further invalidate the bearish trajectory.