A recent development in the world of #cryptocurrency has caught the attention of many investors and enthusiasts alike. A whale, or a large investor, has accumulated a staggering 229 billion Shiba Inu tokens. This news has left many wondering what the future holds for this particular cryptocurrency.

#ShibaINU , a relatively new cryptocurrency, has gained popularity in recent months due to its association with the meme-inspired Dogecoin. However, the sudden accumulation of such a large number of tokens by a single investor has raised questions about the potential impact on the market.

Some speculate that this whale's actions could lead to a significant increase in the value of Shiba Inu, while others fear that it could lead to a market crash. Regardless of the outcome, this development highlights the volatility and unpredictability of the cryptocurrency market.

As investors and enthusiasts continue to monitor the situation, it remains to be seen what the future holds for Shiba Inu and the wider cryptocurrency market. One thing is for certain, however: the world of cryptocurrency is constantly evolving, and it is important to stay informed and vigilant in order to make informed investment decisions.

#coingabbar #crypto2023 #dyor

During the month of February, the Shiba Inu coin experienced a consolidation period, during which a descending triangle pattern emerged. The price plummeted all the way down to a 0.786 Fibonacci retracement level. 

#ShibaINU (SHIB) has experienced a significant drop of over 10.00%, leading to a test below the $0.00001000 support level. While there may be a potential for a corrective increase, it is important to note that any upward movement may be restricted above the $0.000012000 threshold. 

The price of SHIB has encountered a significant obstacle in its upward trajectory, as it failed to surpass the resistance zone of $0.000012000. This has led to a surge in selling interest, causing a decline below the crucial support zone of $0.000010800.

The value of SHIB has plummeted by over 10%, resulting in a sharp decline towards the $0.000010000 support level. In fact, the price even dipped below this critical support zone, creating a new monthly low of approximately $0.000009648. Currently, the price is consolidating its losses and hovering around the $0.000009950 level. It's worth noting that SHIB is now trading below $0.000010000 and the 21 hourly simple moving average.

According to #priceanalysis , On the upside, there is an immediate hurdle at the $0.000010200 level. The first major hurdle lies near $0.000010600, which, if broken, could potentially spark an upward surge in the price. If the token sustains above $0.000010600, the price could reach as high as $0.000011200. Further advances could then propel the price to the $0.000011800 barrier.

If SHIBA fails to break above the $0.000010200 barrier, it may continue to decline. On the downside, the major support level is at $0.000009600. If the price falls below $0.000009600, selling pressure could intensify, potentially pushing SHIBA towards the $0.000009200 support zone in the near term. In the aforementioned scenario, the price of Shiba may fall in the short future towards the $0.000008500-$0.000008000 support zone.

KEY LEVELS :

RESISTANCE LEVEL : $0.000010200-$0.000010600

SUPPORT LEVEL : $0.000009500-$0.000009200

#coingabbar

Disclaimer: #crypto is not regulated and can offer considerable risks. There may be no regulatory remedies available in the event of any losses resulting from price analysis. As a result, before engaging in any transactions involving crypto products, each investor must perform in-depth examination or seek independent advice.

Bankrupt crypto lender Voyager recently shed its Ethereum holdings, while holding 5.17 Trillion Shiba Inu in its portfolio. 

Voyager holds $57.78 million worth of SHIB in its portfolio, alongside Ethereum, Chainlink, Avalanche and others. 

Experts believe Voyager is waiting for Shiba Inu price’s recovery before shedding its SHIB holdings. 

Bankrupt crypto lender Voyager sold Ethereum holdings in exchange for stablecoins like #USDC , while sitting on nearly $57.78 million worth of Shiba Inu holdings. Voyager’s portfolio consists of 5.17 Trillion Dogecoin-killer SHIB tokens. 

Voyager shed its Ethereum holdings while sitting on 5.17 trillion SHIB

#Voyager , a bankrupt crypto lender shed its Ethereum holdings in a recent transaction, exchanging ETH for stablecoins like USDC. According to a recent update from crypto intelligence tracker Lookonchain, Voyager sold 1,449 ETH tokens via Wintermute. The lender sold Ethereum at an average price of $1,553 and received 2.25 million USDC in exchange. 

The crypto lender is still selling assets and currently holds 5.17 Trillion Shiba Inu tokens alongside Chainlink, Ethereum and Avalanche. Interestingly, despite holding nearly $57.78 million worth of meme coin, Shiba Inu tokens, Voyager chose to sell its Ethereum holdings. 

Voyager is sitting on 148,774 #Ethereum tokens worth $233.5 million. It remains to be seen whether the bankrupt crypto lender will shed the rest of its Ethereum holdings or the meme coin is next. 

#ShibaINU price yielded nearly 14% losses for holders since February 27. It is a likely scenario that Voyager would line up to sell its SHIB holdings once the #Dogecoin -killer meme coin recovers from its recent losses.

The Shiba Inu community is awaiting the launch of layer-2 scaling solution Shibarium. The launch of the scaling solution could act as a bullish catalyst, fueling the meme coin’s recovery. 

#ShibaINU coin price has been stagnant for more than two weeks, oscillating between two fixed levels of $0.0000116 and $0.00001020. During this period, the coin price has displayed a cluster of daily candles, highlighting the market's persistent uncertainty.

In February, the SHIB price trend shifted from a downtrend to a sideways movement due to market uncertainty. As a result, potential buyers should avoid trading in this region and wait for a price breakout to release the trapped momentum.

As per recent news, the SHIB price has been on a robust upward trend, surpassing the critical resistance level of $0.000011000. The Meme coin is currently trading above its 20, 50, 100, and 200-day moving averages, indicating a strong bullish sentiment in the market. This is an encouraging sign for investors, as the SHIB price may continue to soar in the near future.

Shiba Inu (SHIB) has recently seen a substantial increase of nearly 5.50%, resulting in a test of the $0.00001100 resistance level. Although there is potential for further upward momentum, it is crucial to note that if SHIB surpasses the $0.000011800 barrier, a sudden spike in price may occur towards $0.000015800.

The initial obstacle lies at the $0.000011800 level. Once we surpass this hurdle, our attention can shift towards the first major challenge, which is situated near $0.000012000. A successful breakthrough at this point could trigger a significant upward trend in the token's value. In fact, if the token can maintain its position above $0.000012500, we may witness a remarkable surge in price, reaching as high as $0.000013000. Such a development could potentially lead to further advancements, propelling the price towards the $0.000015800 barrier.

If SHIBA fails to surpass the $0.000011800 barrier, it may experience a continued decline. The major support level is currently at $0.000011000, and if the price falls below this level, selling pressure could intensify. This could potentially push SHIBA towards the $0.000010500 support zone in the near term. In such a scenario, the price of SHIBA may fall in the short future towards the $0.000010000-$0.000009800 support zone.

KEY LEVELS :

RESISTANCE LEVEL : $0.000011800-$0.000012500

SUPPORT LEVEL : $0.000011000-$0.000010000

Disclaimer: #crypto is not regulated and can offer considerable risks. There may be no regulatory remedies available in the event of any losses resulting from price analysis. As a result, before engaging in any transactions involving crypto products, each investor must perform in-depth examination or seek independent advice.

#coingabbar #crypto2023 #SHIB

In recent months, Shiba Inu (SHIB) has emerged as one of the most successful meme coins, competing directly with Dogecoin (DOGE) in terms of popularity and market capitalization. The team behind SHIB has been tirelessly working on various projects for the community, and their efforts have paid off as they continue to gain more recognition in the cryptocurrency space.

One of the notable achievements of the SHIB team is their extensive network of partnerships and collaborations. This has allowed SHIB holders to pay for various services using their meme coin. And the latest update from BitPay, a leading payment platform, is set to make SHIB payments even more accessible.

@azcoinnews

BitPay has teamed up with Xeni, a blockchain-based B2B travel company, to allow SHIB holders to pay for their services using their meme coin. This partnership opens up new possibilities for SHIB holders, as they can now use their cryptocurrency to pay for commercial flights, hotels, car rentals, and other travel-related activities.

In addition to SHIB, BitPay also accepts other cryptocurrencies, including ethereum, dogecoin, bitcoin cash, litecoin, XRP, and more. This makes BitPay a versatile payment platform that caters to a wide range of digital assets.

This new development is a significant milestone for SHIB and its community, as it further legitimizes the use of meme coins in real-world applications. It also highlights the growing adoption of cryptocurrencies in the travel industry, as more businesses are beginning to embrace the benefits of digital assets.

As the popularity of SHIB and other meme coins continue to rise, it will be interesting to see how they will shape the future of finance and commerce. For now, it seems that SHIB and its team are paving the way for a new era of cryptocurrency adoption.

#SHIB #ShibaINU #crypto2023 #BTC #azcoinnews

This article was republished from azcoinnews.com