Shiba Inu (SHIB) price has dropped by 23% in the last week due to technical issues with the Shibarium L2 launch and concerns of potential exploitation risks, causing holders to reduce transactional activity; however, trading activity suggests a potential bullish reversal with strategic traders piling up purchase orders, indicating market demand for SHIB, and the price may consolidate around $0.000008 before another breakout.
Both meme coins Pepe (PEPE) and Shiba Inu (SHIB) have experienced significant losses of over 20% in the past week, with PEPE dropping 22% and SHIB falling 21.6%, possibly due to the troubled launch of the Shiba network's layer-2 blockchain, Shibarium. Additionally, Bitcoin and Ethereum have also seen declines after news of Evergrande's bankruptcy filing.
Swiss-based company Tangem announces the availability of a new batch of cold Shiba Inu wallets, allowing users to store over 6,000 cryptocurrencies and conduct transactions through smartphones. Additionally, a significant amount of SHIB tokens is being transferred by whales, taking advantage of the price drop, while the SHIB community burns over 1 billion tokens.
Investors need various amounts of money to purchase different quantities of Shiba Inu (SHIB) tokens at the current price, with 1 million tokens costing $8.25, 5 million tokens costing $41.25, 10 million tokens costing $82.5, 50 million tokens costing $412.5, and 100 million tokens costing $825.
The popular meme coin Shiba Inu (SHIB) is experiencing a resurgence in price, potentially signaling a second round of significant movement, while the outcome of the upcoming SEC appeal against Ripple could greatly impact the price trajectory of XRP, and Ethereum is showing signs of potential recovery with a bounce in price from its recent decline.
A massive amount of Shiba Inu meme coins, totaling 708 billion SHIB, was withdrawn from Gemini and transferred to an anonymous wallet, suggesting a reshuffling or potential sale of holdings by the anonymous whale. Additionally, the SHIB community continues to burn millions of tokens in an effort to reduce the circulating supply and potentially increase the value of the coin.
Despite the launch of the Shibarium Layer 2 protocol being abruptly halted for repairs, the majority of Shiba Inu (SHIB) investors find themselves in significant losses, with 74% of SHIB holder addresses in the red and a total of 951,320 addresses trapped in losses.
Mysterious Whale adds $6 million worth of Shiba Inu to her portfolio, accumulating a total of 5.37 trillion SHIB tokens in the past seven days, as the cryptocurrency gains attention following the launch of Shibarium and ranks as the third most trending cryptocurrency globally.
Shiba Inu's layer-2 blockchain Shibarium has seen a significant increase in interacting wallet addresses, surpassing 48,000, and has achieved positive results in transaction count and block production, recording its highest daily transactions at 100,905.
Shiba Inu investors can become multi-millionaires if the cryptocurrency reaches certain price levels, such as $0.0001, $0.001, $0.01, or $0.1, with different amounts of tokens needed to reach $10 million at each level.
The relaunch of Shiba Inu's layer-2 scaling solution, Shibarium, has attracted over 50,000 wallets and caused a rally for Bone ShibaSwap, resulting in a 6.6% increase in one day for the altcoin.
Shiba Inu's offspring token, ShibaSwap Bone (BONE), has seen a bullish stride with a 13.8% increase in the weekly charts, attracting a significant rise in holders, while Shiba Inu (SHIB) struggles to keep up with a 4.4% decrease in the weekly charts and a majority of holders currently facing losses.
Shibarium's fast transaction speed and the burning of SHIB tokens could lead to a potential breakout for the Shiba Inu token, while Bone ShibaSwap has seen a significant amount of tokens staked, indicating user confidence and potential rewards.
The SHIB community has successfully burnt 350 million Shiba Inu coins, locking them in unspendable wallets, in an effort to reduce supply and potentially increase its value, as the launch of the Shibarium Layer-2 blockchain approaches.
Despite the growth of Shiba Inu's Shibarium, the price of SHIB has remained down, while LEASH has outperformed with a 7% gain over the last week.
The Shiba Inu ecosystem is expanding, with experts predicting a major rally for SHIB, while Cardano sees a significant increase in staked ADA tokens, and Everlodge introduces a new co-ownership model that could disrupt the real estate industry.
The search interest in Shiba Inu in India has been high, indicating that people in the Indian community are closely monitoring this asset and considering investing in it, according to data from Google Analytics and a survey conducted by ConsenSys.
The recent increase in network activity on the Shibarium Layer-2 network and the corresponding rise in the SHIB token burn rate could potentially impact Shiba Inu (SHIB) prices positively, potentially triggering an increase in demand and a rebound in prices.
ChatGPT predicts that Shiba Inu (SHIB) could reach $0.9 within 6 to 12 months if there is a surge in positive sentiment, new partnerships, and increased adoption, and within 1 to 2 years if the cryptocurrency market remains bullish and user interest continues, potentially driving the price to $0.9 within 3 to 5 years if SHIB's ecosystem expands significantly.
