Shiba Inu Price Soars More Than 45%
The year 2023 has had a positive impact on the entire crypto market especially Bitcoin which saw a jump of 40% in just one month. As the flagship currency began its recovery rally, so did the other altcoins, including the meme currency, Shiba Inu. The Dogecoin killer managed to gain more than 45% in January alone.
Currently, Shiba Inu is trading at $0.0000138 with a surge of 11.78% over the last 24hrs and 15.72% in the span of seven days. If SHIB continues the bull run, the currency shall pass its immediate resistance at $0.0000145 and if it fails, it could fall below its support of $0.0000130.
Meanwhile, when looking at the reason for Shiba Inu’s massive spike there could be two factors. The first is the token burn and next is whale movements which has increased interest among the community members.
Two Reasons For Shiba Inu’s Bull Run
As per the data, the rate at which Shiba Inu’s SHIB is burnt has surged nearly 502%. Here burning refers to moving tokens to dead wallets which reduces the circulating supply. On the other hand, Whale Alert, a crypto transaction tracker claims that there was a huge amount of Shiba Inu transactions on the Ethereum blockchain in the last 24hrs. Overall, the data states that there were 10 different transactions which were worth between $5.7 million to $6.4 million.
Whenever such huge transactions happen, it suggests that these movements are from whales. The report further indicates that one of the Shiba Inu whales have transferred 499,999,668,400 SHIB from an address that is in connection with Binance to an unknown wallet.
However, the reason for such a huge transaction still remains unknown, but if the transfer was to accumulate these coins, Shiba Inu will have a bullish moment ahead. On the contrary, if investors are planning to sell through over-the-counter (OTC) deals, Shiba Inu price will see a downfall soon.
Shiba Inu Price Jumps 50% In Jan, SHIB Break $0.1 Mark In 2023?
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 (SHIB) Price Fails to Spark Healthy Upswing, How Will SHIBArmy React?
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.
Voyager Bankruptcy Leads to Massive 270 Billion Shiba Inu Transfer! SHIB Price Drop On Horizon?
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 Closer to a 200% Breakout- This is Where SHIB Price May Trade by End of Q1 2023
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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.
Shiba Inu (SHIB) Holds Potential To Take Over Dogecoin (DOGE)
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.
Are Shiba Inu Whales No Longer Interested in SHIB Tokens?
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.
Here’s Why Long-Term Holders Are Key To Shiba Inu Ecosystem’s Success
The second largest meme-inspired cryptocurrency, Shiba Inu (SHIB), has seen a surge in positive market sentiment in recent weeks. With a 41% increase in the past 30 days, the top Ethereum-based meme coin is currently trading at around $0.00001153 on Friday.
The Shiba Inu network boasts over 1,288,164 holders, leading to a high trading volume of approximately $200 million, even amidst the bear market. However, it is the fundamental aspects of the coin that have truly excited the Shiba Inu community.
The Shib Ecosystem: A Work In Progress
The Shiba Inu ecosystem boasts a market capitalization of approximately $6,327,745,697.56. Long-term holders have been identified as a crucial aspect of the ecosystem’s success. According to analytics data from intotheblock, the number of Shiba Inu holders with over a year of holding history has increased in the past year. Additionally, short-term holders, or “cruisers,” those who hold the coin for between 1 to 12 months, have seen a decline.
According to on-chain data, some of the Shiba Inu long-term holders include Binance and crypto.com exchanges. The rest are unknown wallets with more than 1 percent of the total supply of Shiba Inu.
The Shiba Inu ecosystem is thrilled with the upcoming launch of the Shibarium network that will act as a layer 2 scaling solution. Reportedly, DogPad will be the first Launchpad ecosystem of the Shibarium network.
With the launch of Shibarium, the Shiba Inu ecosystem anticipates having more token burns that reciprocate to increased value. Already, the Shiba Inu network has burnt over 41 percent of the total supply.
In the future, the Shiba Inu ecosystem will be fueled by the decentralized financial ecosystems (DeFi) rather than the speculative aspect alone.
How Much Robinhood is Holding in Shiba Inu and Ethereum?
Robinhood Markets Inc. (NASDAQ: HOOD) holds approximately 8 percent of its assets in Ethereum-based Shiba Inu. According to Coinbase director Conor Grogan, Robinhood holds approximately $266 million in Shiba Inu, per publicly tagged wallets. In total, Grogan noted that Robinhood holds approximately $3.37 billion in digital assets on Ethereum Virtual Machines (EVM).
Robinhood has significantly shifted to the crypto market in the past three years with its launch of the Polygon (MATIC) Web3 wallet. According to the trading company, Robinhood Wallet allows users to swap crypto with no fees through the Polygon network.
“Not including BTC, Robinhood holds less than half of a percent of assets on chains outside of Ethereum, and only about a million on MATIC. I found this interesting because Robinhood’s Wallet is on Polygon,” Grogan added.
The company holds Ethereum mostly in its assets amounting to about $3.35 billion. Otherwise, the company does not hold Polygon assets but has about $17.42 million on the Avalanche network.
Shiba Inu Bigger Picture
With about 1,287,999 holders, Shiba Inu has grown to a $6.3 billion valued ecosystem. However, it is the Shibarium beta launch that has sparked optimism in the Shiba Inu ecosystem. Notably, the layer 2 Shibarium network is expected to bring scalable Web3 development to the Shiba Inu ecosystem.
As such, several non-custodial crypto wallets including Atomic have announced the support of the Shibarium network.
Nonetheless, Shiba Inu’s price seems to have hit a rather strong psychological resistance level of around $ 0.000011521. Notably, it is at this level that Shiba Inu capitulated after the FTX fiasco late last year.
Shiba Inu Makes A Skyrocketing Price! These Are The Price Levels For A Bullish Breakout
Is SHIB’s price staggering surge a sign of a bullish season or a risky gamble? Well, the answer to this remains a mystery as the meme coin’s price trades unpredictably nowadays. The popular meme coin Shiba Inu has made a solid start this year, gaining over 40% in just a few days, pushing investors to invest in this meme coin as the upcoming launch of Shibarium beta creates high anticipation among the meme community.
Will SHIB Price Accomplish Its Bullish Goal?
Shiba Inu’s bullish potential has now become a trending topic in the altcoin market as it paves its way to touch extreme highs in the next few weeks. However, Shiba Inu is preparing to test its potential with the release of US GDP numbers this Thursday, and its current price trend does not look promising.
As a result, SHIB may flash a slight downward correction and fall under intense selling pressure soon as it may develop a challenging situation to hold its uptrend.
In the last few days, the developing team of SHIB has continued to burn millions of SHIB tokens as the primary goal of the much-awaited Shibarium Layer 2 solution is to reduce the enormous circulation supply in order to stabilize the token’s price.
With optimistic comments from SHIB developer Shytoshi Kusama, the meme coin may invalidate any bearish analysis and quickly climb to break through its next resistance levels.
Shiba Inu To Turn Bullish Above This Level
The exponential surge in the SHIB price has caught the attention of potential investors to invest in this meme token amid an uncertain market sentiment. As the SHIB price inches closer to forming new tops, its uptrend wins the hearts of altcoin traders.
According to CoinMarketCap, SHIB’s price hovers around $0.00001157 with an uptrend of 3.15%. Looking at the daily price chart, the token may spark a short-term bearish retracement to trigger a strong upward rally.
SHIB price forms a ‘cup-handle’ pattern which may slump the token below the 23.6% Fib retracement to $0.00001083 near EMA-100. However, after retesting its support, SHIB may again initiate a bullish rally and follow its Elliott wave to break above its Bollinger band’s upper limit and trade near $0.000015.
However, the SMA-14 slowly heads toward an overbought region at level 76, which may begin a freefall for the SHIB token if the market makes a reversal due to high selling pressure. A breakout below EMA-50 may thrash the digital asset to trade at a bottom level of $0.00000775.
Shiba Inu Plummets: Early Investors Cash Out, Will the SHIB Price Recover?
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.
Shiba Inu (SHIB) And Cosmos (ATOM) Holders Intrigued By Orbeon Protocol (ORBN) Presale
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.
Cosmos (ATOM)
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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Dogecoin (DOGE), Shiba Inu (SHIB) & Snowfall Protocol (SNW)
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)
❌Dogecoin (DOGE)
✔️ Snowfall Protocol (SNW) – 1000x Gains Potential!
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Crypto Market Analysis: Why Shiba INU(SHIB) is Going Up Today?
The crypto markets continue to trade under a bullish influence despite another bankruptcy struck-in. Bitcoin price continues to trade close to the crucial levels around $21,000 and hence the other major altcoins also appear to have withstood the turbulence. Interestingly, Shiba INU prices continue to trade above the gained levels of around $0.000011 despite millions of tokens being dumped by the whales.
During the previous trading day, the SHIB prices rose to highs fueled by the Shibarium network update. Alongside, SHIB was also the most-held token by the top 100 Ethereum whales. Moreover, a huge whale transaction was encountered as soon as the SHIB prices spiked of more than 443 billion tokens worth $5.1 million in a single transaction. Interestingly, this was a sell transaction!
Post to which the SHIB prices were impacted notably which faced rejection from the levels close to $0.000013. Presently, the bears are attempting to compress the price but the bulls appear to carry enough strength to hold the selling pressure.
The Shiba INU price despite the current pullback continues to hover within the ascending rising channel which is largely considered as bearish. However, in the short term, the price is closer to testing the lower support of the channel. If the price rebounds successfully, then a notable rise beyond the highs at $0.000013 may be imminent. Else a bearish pullback may drag the price lower and compel it to trade along the lower support zone.
The Shiba INU (SHIB) price is trading around $0.0000114 with a notable rise of more than 2% in the past 24 hours. However, the trading volume also has dropped by nearly 60% due to which bulls are not getting enough room to swell. Meanwhile, if the price registers a bullish close above $0.00001150 or higher, then the upcoming trade may record significant gains.
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%.
Crypto Market Analysis: Dogecoin (DOGE) & Shiba INU (SHIB) Price May Explode Soon!
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.
Shiba Inu (SHIB) Continues to See Massive Surge Following Shibarium Update
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.
Could This Floki Catalyst Help Dogecoin (DOGE), Shiba Inu (SHIB), And other Memecoins?
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.
Here Is How Shiba Inu Could Hit $1
Shiba Inu, the popular meme currency right now, has been making news for a few weeks now. Shiba Inu is witnessing some massive price hike, especially on January 14, 2023 when the currency managed to eliminate a zero from its value in just one night. Since 2020 the year when this Dogecoin killer was introduced, Shiba Inu has claimed 11430362.4%
Currently, Shiba Inu is changing hands at $0.00001043 after a surge of 3.84% in the last 24hrs.
High Hopes On Shiba Inu’s Shibarium
Now, as SHIB is making some notable developments, various investors and traders are looking forward to Shiba Inu making a move towards $1. However, the lack of social media buzz is posing as an obstacle towards its massive spike. On the other hand, it is being reported that few whales hold massive SHIB coins which might be sold off anytime. If those whales decide to sell off their holdings, Shiba Inu will face a huge pull back. Moreover, the meme currency has a huge circulating supply which needs to be burnt to create a scarcity.
It was in 2021 when Shiba Inu introduced its burn portal which sends 2 SHIb coins to a dead wallet, but this process is not helping to reduce the supply.
At the moment, burning massive Shiba Inu, expected to be delivered by Shibarium, is the need for an hour which will fuel Shiba Inu’s price rally. For example, if 90% of SHIB is burnt leaving 50 trillion in circulation. Now, if SHIB makes it for $1, then its market cap will be $50 trillion. Hence, SHIB has to burn 99% of its supply so that it drops to billions or millions. Nevertheless, with Shiba Inu’s Layer-2 blockchain, Shibarium launch being just around the corner, hopes for some positive developments are high.
Shiba Inu Becomes ETH Whales Top Holding, As Devs Get Ready to Launch Shibarium Beta
The developers of the meme currency Shiba Inu (SHIB) have published an update on their website to provide the community with information on the forthcoming beta release of Shibarium, which is a layer-2 network that will operate on top of the Ethereum mainnet.
While this was taking place, evidence showed that Ethereum (ETH) whales were purchasing an increasing amount of SHIB in preparation for the launch. According to the information provided by WhaleAlert, the top 100 ETH whales’ combined holdings of Shiba Inu Coin now total more USD than any other cryptocurrency. To reclaim the lead, SHIB used a flip of the Staked Ethereum token, abbreviated as stETH.
In addition, the price of SHIB has climbed by 5% in the last day, and it has increased by 21.5% in the last week, making it one of the cryptos in the top 20 cryptocurrencies to perform the best in the past week.
The developers of Shibarium emphasized that the Shibarium project is being built in order to give a platform that will enable the community to construct and expand the project and realize the founder’s goal.
The developers have said that the intention was not to enhance the price of the meme currency, despite the fact that some people feel that developing Shibarium is a means to do so.
The addition of a burning mechanism for SHIB, which is one of the most often requested improvements for the project, is one of the most important updates included in the latest announcement.
The developers state that every transaction that takes place on the network will necessarily involve some number of SHIB tokens being burned. Every time a transaction is carried out inside the network, this process will be activated.
Though they did not provide a release date, the developers assured us that we will be hearing from them very soon with the answers to all of our pressing queries about when the beta would be available, so let’s wait and see.
With Shibarium Release Ahead, Is It the Right Time To Buy Shiba Inu?
Shiba Inu seems to be on the cusp of another bullish breakthrough as investors are stoked after a relief rally around the New Year. At the time of this writing, one meme token is worth $0.00000962, reflecting an increase of 1.9% over the course of the previous twenty-four hours and 14.6% over the course of the previous seven days.
SHIB Still In Hot Water
However, the on-chain data provided by InTheBlock demonstrates that Shiba Inu remains rather gloomy. In addition, 56 percent of people who are holding SHIB are submerged, while just 25 percent are keeping their heads above water.
The on-chain bear signals are more powerful than the bull and neutral signals, as can be seen in the screenshot that is presented above. In addition to this, the signals from the exchange are negative. The overall direction of the signals for SHIB is bearish.
Contrarily, data from IntoTheBlock’s In/Out of the Money Around Price (IOMAP) model indicates a bullish outlook in Shiba Inu price, at least until the big selling congestion zone around $0.000011 has been labeled.
Although notably, during the last several weeks, investors have moved their focus to alternative cryptocurrencies, with a particular emphasis on meme coins such as Dogecoin and Shiba Inu.
According to data that was only just made available by WhaleStats, a cryptocurrency platform that keeps track of huge transactions, SHIB is once again one of the smart contracts that are used the most often by the top 500 Ethereum (ETH) whales.
On January 13th, the coin was also included amongst smart contracts for the top 1,000 largest Ethereum whales. The Shiba Inu contract had the lowest volume in the top ten, behind WETH, BOBA, NMR, ETH, USDT, and USDT. Also, among the top 5,000 Ethereum whales, SHIB is the coin that has seen the highest trading activity.
SHIB Price Analysis
The Moving Average Convergence Divergence (MACD) indicator and the candlestick chart for Shiba Inu both point to the buyers being in the driver’s seat. After the 50-day Exponential Moving Average (ETH) passes over the 100-day EMA, investors who have been betting on long positions in the Shiba Inu price may choose to maintain their bets. Shiba Inu longs may rest easy as long as they stay just over $0.00001, its imminent resistance.
Traders and investors should use caution since Shiba Inu does not have widespread support on the IOMAP. However, given the increasing trade volume, shorting SHIB is not a good idea.
Why Shiba Inu (SHIB) Price Surged 30%?
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.
These Indicators Will Lead Shiba Inu And Dogecoin’s Next Bull Run
The year 2022 has been one of the worst years for crypto, however since 2023 has begun it looks like the crypto market will defy bearish sentiment. Today, as Bitcoin made its comeback with a claim of $20,000, the global crypto market cap has also surged above $1 trillion for the first time since November 2022.
Meanwhile, the meme coins like Shiba Inu and Dogecoin have decided to follow the bullish crypto market trend. The meme king, Dogecoin is once again trading above $0.085 which was not seen after December 16, 2022. At the time of publication, Dogecoin is selling at $0.886 with a gain of 10.82% over the last 24hrs.
The way DOGE is increasing its price rally, it seems like the investor sentiment is positive. Amidst the uncertainty of Dogecoin being integrated into Twitter, the Dogecoin Foundation has launched a Development Fund. This fund mainly focuses on enhancing Dogecoin network helping to be one of the large cap crypto.
SHIB And DOGE On A Crucial Move
Meanwhile, Shiba Inu has strongly surged above its crucial resistance of $0.0000102 after a week-long recovery rally. Currently, Shiba Inu has managed to gain 13.59% over the last 24hrs and is now trading at $0.00001076. The much looked forward upgradation on Shiba Inu, Shabarium is one of the main reasons for SHIB’s bullish momentum. This is because Shibarium aims to reduce Shiba Inu network’s transaction fee along with SHIB burning on every Shibarium transaction. The burning mechanism will reduce the circulating supply of SHIB and in turn increase the demand for that token.
However, once Shiba Inu’s Shibarium and Dogecoin’s successful integration into Twitter is completed, both the network is expected to surge even higher. If that happens, Shiba Inu can easily make its move above $0.00001100 while Dogecoin will lead its price action above $0.0920.
Is Dogecoin Dead? Shiba INU(SHIB) Price to Toss-Off a Zero Before DOGE!
Shiba INU is coming out to be the biggest Dogecoin killer over time as the price has achieved significant highs in the past few days. The price with a more than 11% jump at the moment aims to recover 100% loss incurred due to the collapse of the FTX exchange. Now when the SHIB price is hovering very close to $0.0001 a clear pass-through appears to be imminent.
The SHIB price is testing the upper trend line that it followed for more than the past 6 months. During the previous attempt to slice through the trend line, the bulls put up a good fight, which reduced the bulls’ strength significantly. However, the present scenario is slightly different as the bullish pressure has accumulated due to which the price may remain elevated for a longer time frame.
Therefore, the Shiba INU (SHIB) price may slice through the trend line and clear the resistance at $0.00001042 any moment from now.
Is Dogecoin Dead? Why DOGE Price is Less Volatile?
Dogecoin recently bounced off from its lows below $0.07 and laid down a notable upswing thereafter. With the beginning of the 2023 trade, most of the altcoins raised as Bitcoin price marked highs beyond $19,000. However, the DOGE price remained consolidated and display no notable price action, excluding some minor spikes which were nullified by bearish actions.
Despite the lowered pace, the DOGE price managed to sustain within a bullish frame. The price rose beyond the ascending triangle and is undergoing a restest. An upcoming couple of hours is important for the popular meme coin as the bulls are required to jump in, raising the levels beyond the immediate resistance at $0.0867. Else a drop below the interim support at $0.0748 may be imminent.
Top 5 Reasons Why Shiba Inu Might Be The Best Bet In 2023
The crypto bulls are holding quite well against the bears since the beginning of 2023. While the bull run is led by Bitcoin with its continued price rally, the altcoins, especially meme coins are trying their best to follow. One such currency is Shiba Inu which has been one of the most explosive currencies in the space.
Shiba Inu was just another meme coin in 2020 when it was launched. However, by Oct 2021 this meme currency had skyrocketed nearly 121,000,000% as it rose from Jan 1 trading of $0.000000000073 to hit $0.00008841 in Oct 2021. This made Shiba Inu one of greatest coins for securing such a huge single-year gain.
Shiba Inu At $1 By 2023 ?
Now, as we enter 2023, Shiba Inu investors and traders are cautiously wondering if SHIB could hit $1 in 2023. However, there are a few factors which have to fall in place for the meme currency to see such a spike.
Firstly, it’s the soon to be launched Shibarium which is a Layer 2 blockchain that aims to reduce transaction fees. It’s important for Shibarium to perform as expected so that it supports the network’s blockchain-based gaming.
Next is the non-fungible token (NFT) based games which are basically dependent on Shibarium launch. This is because through blockchain-based games people can own their creations along with buying and selling NFTs. The marketplace will be affordable only when transaction fees are reduced and that’s possible with Shibarium.
Third factor is Shiba Inu’s acceptance by notable retailers which will see its usage in the real world. Shiba Inu’s real-world-utility will increase the demand and in turn help in SHIB reaching the $1 target.
Fourth is the increase in coin burn so that the circulating supply is reduced to make the currency scarce. As per CoinMarketCap, currently, Shiba Inu’s outstanding tokens are currently positioned at 590 trillion
Lastly, it’s the huge social media recognition which will push Shiba Inu to rise more than 10,800,000% in 2023. Etherscan claims that there are more than 1.25 million wallets with SHIB coins and these addresses should get their fingers rolling on social media to create the buzz.
This Factor May Lead the Shiba INU (SHIB) to Enter the Top 10 Cryptocurrency Soon
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.
Orbeon Protocol Rockets To Success In Presale, Leaving Shiba Inu And Polygon Behind
The world of cryptocurrency is constantly evolving, with new digital assets emerging every day. While some coins and tokens rise to success, others struggle to maintain their value. In this article, we’ll take a closer look at three cryptocurrencies: Shiba Inu (SHIB), Polygon (MATIC), and Orbeon Protocol (ORBN). We’ll examine how these assets have performed in the market and analyze their prospects for the future.
Shiba Inu (SHIB) struggles to stand out in a saturated market
Shiba Inu (SHIB) is a meme-based cryptocurrency that has struggled to gain a foothold in the market. One of the main challenges facing Shiba Inu (SHIB) is the saturation of the meme coin market, which is largely dominated by Dogecoin.
Additionally, the name “Shiba Inu” is commonly associated with a breed of Japanese dog, which can be confusing for those unfamiliar with cryptocurrency. This lack of recognition makes it difficult for Shiba Inu (SHIB) to establish itself as a credible digital asset.
Another problem for Shiba Inu (SHIB) is its lack of innovation. As an ERC-20 token on the Ethereum blockchain, it is subject to the same limitations as Ethereum, including slow processing times and high transaction fees. Without a strong infrastructure or unique value proposition, Shiba Inu (SHIB) is at risk of being overshadowed by more established cryptocurrencies such as Bitcoin, Ethereum, and Dogecoin. The current price of Shiba Inu (SHIB) is $0.000008295, with a 24-hour trading volume of $64.57 million. In the past 24 hours, Shiba Inu (SHIB) has decreased by 0.18%.
Polygon (MATIC) struggles with allegations of financial incentives
Polygon (MATIC) has been facing allegations of offering financial incentives to encourage projects to move to its platform. The allegations came after y00ts and DeGods, the two largest NFT collections on Solana, announced their intention to move to other blockchains such as Ethereum (ETH) and Polygon (MATIC) in 2023.
While Ethereum was never questioned, many in the crypto community have raised concerns that Polygon (MATIC) may not have been chosen for the benefits it provides, but rather because of the financial incentives offered. The co-founder of Solana Labs has commented on the allegations and the DeGods founder has not yet refuted them. This news has raised concerns about the integrity and transparency of Polygon (MATIC) as a cryptocurrency.
It is important for any cryptocurrency to maintain a high level of trust with its users and any allegations of unethical behavior can damage that trust. In addition to these allegations, Polygon (MATIC) has also struggled in terms of price performance. In the past year, the price of Polygon (MATIC) has decreased by approximately 70%, going from $1.60 to its current price of $0.75. This price decline, combined with the allegations of financial incentives, has cast a shadow over Polygon (MATIC) and its future prospects.
Orbeon Protocol (ORBN) Rockets to Success in Presale
In contrast to Shiba Inu (SHIB) and Polygon (MATIC), Orbeon Protocol (ORBN) has seen impressive success in its ongoing presale. Analysts have predicted Orbeon Protocol (ORBN) to net 60x returns from the presale, a testament to the innovative nature of the platform.
Orbeon Protocol (ORBN) is changing the game in venture capital and crowdfunding by allowing anyone to invest in promising early-stage enterprises through the use of fractionalized, equity-backed NFTs. This decentralized investment platform allows retail investors to purchase NFTs representing equities for as little as $1. In addition to its innovative approach to investment, Orbeon Protocol (ORBN) also incorporates a “Fill or Kill” mechanism in its smart contract. This system returns NFTs to investors if an investment round falls short of its target, providing a level of protection for investors.
The native token of Orbeon Protocol, ORBN, gives holders voting and governance rights, access to exclusive investor groups and upcoming funding rounds, discounts on trades on the platform, and staking rewards. The price of ORBN right now is $0.0435. During the presale, analysts predicted that the price of ORBN would skyrocket by more than 6000%, from $0.004 to $0.24. With the potential for massive returns and a unique approach to investment, it’s no wonder that Orbeon Protocol (ORBN) is seeing such success in its presale. As the world of cryptocurrency and blockchain technology continues to evolve, Orbeon Protocol (ORBN) is positioning itself as a leader in the space. Its decentralized investment platform and innovative use of NFTs sets it apart from other cryptocurrencies and give it a strong foundation for future growth.
Conclusion
In conclusion, Orbeon Protocol (ORBN) has seen impressive success in its ongoing presale, with analysts predicting net returns of 60x for investors. In contrast, both Shiba Inu (SHIB) and Polygon (MATIC) have struggled. Orbeon Protocol’s (ORBN) innovative approach to venture capital and crowdfunding, along with its “Fill or Kill” mechanism and native token-giving holders governance rights, may contribute to it’s success.
Find Out More About The Orbeon Protocol Presale
Website: https://orbeonprotocol.com/
Presale: https://presale.orbeonprotocol.com/register
Telegram: https://t.me/OrbeonProtocol
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Solana Price Surges As Shiba Inu Rival BONK Takes Off, The Price Of Orbeon Protocol Price Increases Again
The crypto market has taken a turn in 2023. Solana is on the rise, BONK, a new Shiba Inu rival, has taken the market by storm, and Orbeon Protocol continues to defy trends, rising in value for the third month in a row by over 980%. As the market recovers, investors are looking to boost their portfolios. Here’s why they should consider Solana (SOL), BONK and Orbeon Protocol (ORBN).
Orbeon Protocol Is On Track To Become One Of The Biggest Cryptos In 2023
Orbeon Protocol is one of the most anticipated projects of 2023, with an exciting ecosystem and revolutionary real-world applications. To give investors peace of mind from the onset, Orbeon Protocol’s smart contract has been successfully audited by Solid Proof, and its liquidity has been locked for a decade. So what does it offer?
The main feature of Orbeon Protocol is its unique launchpad, which combines DeFi with fundraising to remove traditional barriers to entry. In the current funding market, startups rely on venture capitalists for funding. These venture capitalists often demand upwards of 20% of their business for funding, forcing startups into long-term congrats.
With Orbeon Protocol, startups can choose how much of their business they want to sell with NFTs representing equity in their business. These NFTs are fractionalized, which makes them accessible for as little as $1. This diversifies how startups generate funds, reducing risk while attracting investors who believe in their service or product.
All startups on Orbeon Protocol are vetted before they can be invested in, and investors are protected by a “Fill” or “Kill” smart contract mechanism, which refunds them if a startup misses its funding targets.
Each of these will be powered by ORBN. ORBN has a supply of 888,000,000 tokens, and provides access to an investor club called the “Winners Circle,” staking bonuses, governance rights, and more.
In total, 40% of the ORBN supply will be sold to the public, with 47,927,490 tokens being sold so far. During its presale, ORBN has increased from $0.004 to $0.0435, with analysts predicting this to further increase in 2023.
BONK Surges In Price After Solana Airdrop
BONK is a new dog memecoin created on the Solana blockchain. BONK was airdropped to the Solana community and has increased by 983% since the 29th of December, reaching a market cap of $50 million.
BONK has been described as the first Solana Dog Coin for the people and has become a big hit on Twitter. 50% of the initial BONK supply was airdropped to Solana NFT collectors according to the Bonk whitepaper, with the remaining BONK supply being sold on PancakeSwap.
Solana (SOL) Sees Huge Gains As We Enter 2023
Solana has bounced back in 2023, rising from $9.8 to over $13 in just seven days. Founded by the Solana Foundation, Solana was created to make decentralized finance more accessible worldwide.
In late 2022, Solana experienced an increase in trading volume, which has since been followed by a huge surge in price. Despite being significantly lower than its all-time high of $259.96, many investors believe Solana could be a strong investment in 2023.
Find Out More About The Orbeon Protocol Presale
Website: https://orbeonprotocol.com/
Presale: https://presale.orbeonprotocol.com/register
Telegram: https://t.me/OrbeonProtocol
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.