Cena SHIB ON SOLANASHIB

Shiba Inu has been stuck in a persistent downtrend, with recovery attempts consistently failing. The meme coin has struggled to break through key resistance levels, and investor sentiment remains lackluster due to ongoing losses. With limited support from investors, SHIB now finds itself reliant on the performance of Bitcoin for any potential rebound. Shiba Inu Investors Need Help Over the past month and a half, losses in transactions have far outweighed those in profit for Shiba Inu. This reflects the ongoing bearish sentiment, as more investors are in a position of loss than profit. The dominance of losing transactions further dampens market confidence, leaving many hesitant to participate in network activities. As a result of this bearish outlook, investor behavior has shifted, with many pulling back from conducting transactions on the network. This cautious approach results in lower trading volume, which puts additional pressure on SHIB’s price. Until the sentiment changes or market conditions improve, Shiba Inu is likely to continue facing downward pressure. Shiba Inu Transactions In Loss. Source: Santiment Shiba Inu shares a strong correlation with Bitcoin, with a 0.94 correlation coefficient. This suggests that SHIB could follow Bitcoin’s price movements, especially if Bitcoin continues to show strength. Should Bitcoin break the crucial $100,000 barrier, it could signal a period of growth for the broader crypto market, including Shiba Inu. This close relationship with Bitcoin offers Shiba Inu a potential path to recovery. If Bitcoin rallies, it could provide the necessary momentum to lift SHIB from its downtrend. However, SHIB’s reliance on Bitcoin also means that its recovery is contingent on Bitcoin’s performance in the coming weeks. Shiba Inu Correlation With Bitcoin. Source: TradingView SHIB Price Prediction: Stuck Within A Range Shiba Inu is currently priced at $0.00001591, having been stuck under the $0.00001676 resistance for the past week. The coin has endured a month-long downtrend, pushing it to its current price level. Without a significant shift in market sentiment, SHIB is unlikely to breach this resistance in the short term. If the bearish market conditions persist, Shiba Inu may continue to consolidate below the $0.00001676 resistance. However, holding above the $0.00001462 support level could provide SHIB with some stability, preventing further downside and allowing for a potential slow recovery if broader market conditions improve. Shiba Inu Price Analysis. Source: TradingView Should Bitcoin recover and pull Shiba Inu along with it, SHIB could breach the $0.00001676 resistance and rise toward $0.00002000. A successful push above this key level would open the door for further growth, potentially marking the start of a new bullish phase for the meme coin.

⭐️ Almost 1 Trillion Shiba Inu ($SHIB) Flowed into Whale Wallets Overnight, But Is It Bullish? Not very much is happening these days on the cryptocurrency market as fear, greed, uncertainty and doubt took over and it seems that no concrete direction in which the prices on digital assets tend to lean is here yet. 🔸 However, the lack of action in the quotes does not mean the absence of activity at all. Thus, things are still happening behind the scenes of the market, in particular in the on-chain realm. This is at least true for popular meme-inspired cryptocurrency Shiba Inu (SHIB), which as matter of fact is still the second biggest meme coin on the market. As IntoTheBlock revealed, in the last 24 hours, Shiba Inu whales amassed a whopping 922.87 billion SHIB. This is 438,66 billion tokens, or 100% more than the day before. Worth mentioning is that only those wallets that hold no less than 0.1% of the Shiba Inu token circulating supply made the cut in the statistics. On the other hand, #SHIB also saw a rise in outflows from these wallets. A total of 619.44 billion tokens flowed out of the hands of the biggest Shiba Inu whales. The increase and total figure is less than the inflows, and as a result the net figure of flows is positive for the day - 303.43 billion $SHIB. The day before it was -48.41 billion tokens. 🔸 Who's really in control? Is it bullish, one might ask, and despite the initial impression, things are a bit more complicated. The catch is that the biggest Shiba Inu token holders are exchanges. According to various estimates, 565 trillion SHIB are now held by only five whales, and that is like 95.8% of its entire circulating supply. So, are the flows into the so-called whale wallets bullish for the meme coin? There does not seem to be an obvious answer.

Shiba Inu (SHIB), one of the most popular meme-based cryptocurrencies, has recently been experiencing a significant downturn, raising concerns among investors. The token has struggled to maintain its price levels, breaking through key support zones and facing the possibility of further declines. With the current bearish sentiment in the market, analysts speculate that $SHIB may "add another zero" to its price—an indication of a substantial loss in value. Current Market Conditions and SHIB’s Performance ----------------------------------- The cryptocurrency market as a whole has been under pressure due to macroeconomic factors, regulatory concerns, and fluctuations in investor sentiment. Shiba Inu, despite its strong community backing, has not been immune to these trends. The token has recently dropped below critical support levels, triggering speculation about its near-term price movement. One of the key indicators of SHIB's decline is its movement relative to the 50-day and 100-day Exponential Moving Averages (EMA). These technical indicators are widely used by traders to determine price trends. SHIB's price breaking below these levels suggests an increase in selling pressure, making further declines more likely. Furthermore, daily candlestick patterns have shown large shadows, indicating extreme volatility in SHIB’s price action. This volatility makes it difficult for traders and investors to predict the token’s next move with certainty. What Does “Adding Another Zero” Mean for SHIB? ----------------------------------- The term "adding another zero" refers to the token’s price dropping to a lower range, where an additional zero appears in its decimal representation. For example, if SHIB were to fall from $0.00001 to $0.000001, it would effectively "add another zero." This would signify a drastic drop in its valuation, making it even harder for the token to recover to previous highs. SHIB's price has fluctuated significantly in the past, with multiple periods of rapid gains followed by sharp declines. The latest downturn, however, raises concerns about whether SHIB will be able to regain momentum or continue its downward trajectory. Key Factors Contributing to SHIB’s Decline ----------------------------------- Several factors have contributed to SHIB’s recent price struggles: 1. Weak Support Levels SHIB has breached important support zones, and there appears to be little resistance to prevent further declines. If selling pressure continues, the token could experience an extended downtrend. 2. Market Sentiment and Investor Caution The overall cryptocurrency market has been highly volatile, with many investors becoming cautious about meme coins like SHIB. Unlike major cryptocurrencies such as Bitcoin and Ethereum, meme coins often face greater speculation and price manipulation, making them more prone to sudden crashes. 3. Lack of New Catalysts SHIB has historically benefited from major announcements, including token burns, ecosystem developments, and adoption news. However, the recent price action suggests that there hasn’t been enough positive news to counteract the bearish trend. 4. Macroeconomic and Regulatory Concerns The broader economic environment, including inflation concerns, interest rate hikes, and increased regulatory scrutiny on cryptocurrencies, has also contributed to declining investor confidence in riskier assets like SHIB. What’s Next for Shiba Inu? ----------------------------------- While the current market outlook for SHIB is bearish, it’s important to recognize that cryptocurrencies are highly unpredictable. Several scenarios could unfold: 1. Further Decline: If SHIB fails to find support, it may continue to drop, adding another zero to its price. 2. Sideways Movement: SHIB could stabilize around its current price, consolidating before making a move in either direction. 3. Potential Rebound: If new catalysts emerge—such as token burns, new partnerships, or market-wide recoveries—SHIB could regain some of its lost value. For investors, the key takeaway is to approach SHIB with caution. While some see the current price drop as a buying opportunity, others are wary of further losses. As always, conducting thorough research and understanding market trends are essential before making any investment decisions. Conclusion ----------------------------------- Shiba Inu's recent struggles highlight the volatility of the cryptocurrency market, particularly for meme coins. With SHIB breaking key support levels and facing increased selling pressure, there is a strong possibility that it could add another zero to its price. However, market conditions can change rapidly, and any new developments in the SHIB ecosystem could impact its future trajectory. Investors should remain informed and cautious as they navigate this unpredictable market.

Concerns have emerged over Shiba Inu’s (SHIB) token distribution after analysts revealed that several wallets hold a significant portion of its supply. On Friday, crypto analytics firm Santiment reported that the top 10 SHIB wallets collectively own 61.3% of the total supply. By comparison, Ethereum’s top 10 wallets hold 46.1% of its supply, while Chainlink and Toncoin have even lower concentrations at 33.1% and 32.8%, respectively. Notably, as per the firm, such a high concentration for SHIB raises fears of price manipulation and volatility. “When the top 10 largest wallets hold a big portion of a cryptocurrency’s total supply, like Shiba Inu at 61%, it means a small number of holders have significant control over the market. If these wallets decide to sell, it can cause sharp price drops, creating greater risks for smaller investors.” The firm tweeted. On the other hand, cryptocurrencies with more evenly distributed ownership are considered more stable, as they are less susceptible to market manipulation by a few large players. However, a closer look at the nature of these wallets reveals that the situation may not be as concerning as initially feared. While the numbers suggest that a small number of entities control SHIB’s supply, the firm noted that many of these top wallets do not belong to individual investors or whales but are controlled by exchanges and the SHIB burn wallet. Notably, the official burn wallet is the largest SHIB wallet, which holds an astounding 41% of the total supply. These tokens have been permanently removed from circulation, meaning they cannot be sold or reintroduced to the market. This significantly reduces concerns about potential sell-offs from this particular address. The second-largest wallet, containing 44.72 trillion SHIB, belongs to the South Korean exchange Upbit. Similarly, Binance holds 44.19 trillion SHIB as the third-largest wallet, while Robinhood controls the fourth-largest with 39.27 trillion SHIB. Other major exchanges like Crypto.com, OKX, and BitGo also hold substantial amounts. Since these exchanges hold SHIB on behalf of millions of retail investors rather than for personal investment, the likelihood of coordinated price manipulation is much lower than initially perceived. It’s also important to note that such entities, particularly Robinhood, have continued accumulating SHIB, signaling a growing interest in the meme coin. According to Santiment, such purchases indicate confidence in the meme coins future. “If these large holders continue to hold or accumulate, it generally signals confidence in the project and can actually reward traders who collectively hold less power and rely more heavily on the behavior of a few large key stakeholders.” Santiment wrote. SHIB traded at $0.00001569 at press time, reflecting a 1.10% surge in the past 24 hours.

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