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Here is What Shiba Inu Price Might Look Like if Doge coin Hits $1 Trillion Market Cap
Investors are closely monitoring Shiba Inu and Dogecoin, two of the world’s largest meme coins, and analyzing how their price movements impact each other.
This analysis gained momentum as several analysts project that Dogecoin might become the first meme coin to reach a $1 trillion market cap. Despite being the biggest meme coin, Dogecoin’s market cap is still around $50.88 billion. It is a 1,865% rally away from achieving the $1 trillion valuation.
Should it achieve this feat, its price will soar to $6.77 from the current $0.3447 value, assuming no changes to its circulating supply.
How Dogecoin Surge to a $1T Market Cap Could Impact Shiba Inu
Amid this optimistic projection, several investors are eager to know how Dogecoin’s potential surge to a $1 trillion market cap will impact the meme coin market, particularly Shiba Inu.
Shiba Inu, which launched in 2020, has quickly elevated itself as one of the leading meme coins, with its utility extending beyond just trading to decentralized finance (DeFi).
Several factors, such as Shiba Inu’s ecosystem developments, market sentiments, and its correlation with other assets like DOGE, have significantly influenced SHIB’s price.
For context, Shiba Inu boasts a correlation of 83% with Dogecoin over the past 30 days, soaring to 88% in the past two months. However, Shiba Inu’s correlation with other top assets like Bitcoin and Ethereum has been low compared to Dogecoin.
shiba inu SHIB and Dogecoin DOGE
Shiba Inu could eliminate a zero from its price if Dogecoin achieves a market cap of $1 trillion.
Investors are closely monitoring Shiba Inu and Dogecoin, two of the world’s largest meme coins, and analyzing how their price movements impact each other.
This analysis gained momentum as several analysts project that Dogecoin might become the first meme coin to reach a $1 trillion market cap. Despite being the biggest meme coin, Dogecoin’s market cap is still around $50.88 billion. It is a 1,865% rally away from achieving the $1 trillion valuation.
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Should it achieve this feat, its price will soar to $6.77 from the current $0.3447 value, assuming no changes to its circulating supply.
How Dogecoin Surge to a $1T Market Cap Could Impact Shiba Inu
Amid this optimistic projection, several investors are eager to know how Dogecoin’s potential surge to a $1 trillion market cap will impact the meme coin market, particularly Shiba Inu.
Shiba Inu, which launched in 2020, has quickly elevated itself as one of the leading meme coins, with its utility extending beyond just trading to decentralized finance (DeFi).
Several factors, such as Shiba Inu’s ecosystem developments, market sentiments, and its correlation with other assets like DOGE, have significantly influenced SHIB’s price.
For context, Shiba Inu boasts a correlation of 83% with Dogecoin over the past 30 days, soaring to 88% in the past two months. However, Shiba Inu’s correlation with other top assets like Bitcoin and Ethereum has been low compared to Dogecoin.
This indicates that SHIB has been moving in tandem with Dogecoin’s price movement than any other crypto over the past 60 days.
Shiba Inu Price if Dogecoin Hits $1T Market Cap
At press time, Shiba Inu’s market cap is $12.75 billion, trading at $0.00002134. Assuming Shiba Inu experiences a proportional surge of 1,865%, like Dogecoin on its way to a $1 trillion market cap, its price will soar to $0.0004193.
Therefore, if Dogecoin achieves a $1 trillion market cap, Shiba Inu’s price could rise to a staggering $0.0004193 per token.
At $0.0004193, Shiba Inu’s market cap will soar to $250.53 billion if SHIB’s circulating supply of 589.25 trillion tokens remains stable. Also, investors with portfolios of 100 million SHIB, currently worth $2,134 at the current price, will see their investments surge to $41,930 if SHIB hits a target of $0.0004193.
Similar Projections
The $0.0004193 target aligns with several optimistic predictions top experts have issued for Shiba Inu.
Last month, pseudonymous market observer CryptoELITES identified the formation of a bullish cup and handle pattern on Shiba Inu’s chart, forecasting a rise to $0.000472905 this cycle.
In October, popular market analyst Cantonese Cat referenced Shiba Inu’s 2023 performance to project a potential surge to $0.00047. Cantonese Cat emphasized that Shiba Inu was the only crypto asset flashing a buy signal at the time.
Even though Shiba Inu has demonstrated its prowess for recording substantial gains, its potential to hit the $0.0004193 target depends on several factors, ranging from market sentiment to burns. A considerable portion of Shiba Inu’s 589.25 trillion must be incinerated to hit the target quickly.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
This analysis gained momentum as several analysts project that Dogecoin might become the first meme coin to reach a $1 trillion market cap. Despite being the biggest meme coin, Dogecoin’s market cap is still around $50.88 billion. It is a 1,865% rally away from achieving the $1 trillion valuation.
Should it achieve this feat, its price will soar to $6.77 from the current $0.3447 value, assuming no changes to its circulating supply.
How Dogecoin Surge to a $1T Market Cap Could Impact Shiba Inu
Amid this optimistic projection, several investors are eager to know how Dogecoin’s potential surge to a $1 trillion market cap will impact the meme coin market, particularly Shiba Inu.
Shiba Inu, which launched in 2020, has quickly elevated itself as one of the leading meme coins, with its utility extending beyond just trading to decentralized finance (DeFi).
Several factors, such as Shiba Inu’s ecosystem developments, market sentiments, and its correlation with other assets like DOGE, have significantly influenced SHIB’s price.
For context, Shiba Inu boasts a correlation of 83% with Dogecoin over the past 30 days, soaring to 88% in the past two months. However, Shiba Inu’s correlation with other top assets like Bitcoin and Ethereum has been low compared to Dogecoin.
shiba inu SHIB and Dogecoin DOGE
Shiba Inu could eliminate a zero from its price if Dogecoin achieves a market cap of $1 trillion.
Investors are closely monitoring Shiba Inu and Dogecoin, two of the world’s largest meme coins, and analyzing how their price movements impact each other.
This analysis gained momentum as several analysts project that Dogecoin might become the first meme coin to reach a $1 trillion market cap. Despite being the biggest meme coin, Dogecoin’s market cap is still around $50.88 billion. It is a 1,865% rally away from achieving the $1 trillion valuation.
- Advertisement -
Should it achieve this feat, its price will soar to $6.77 from the current $0.3447 value, assuming no changes to its circulating supply.
How Dogecoin Surge to a $1T Market Cap Could Impact Shiba Inu
Amid this optimistic projection, several investors are eager to know how Dogecoin’s potential surge to a $1 trillion market cap will impact the meme coin market, particularly Shiba Inu.
Shiba Inu, which launched in 2020, has quickly elevated itself as one of the leading meme coins, with its utility extending beyond just trading to decentralized finance (DeFi).
Several factors, such as Shiba Inu’s ecosystem developments, market sentiments, and its correlation with other assets like DOGE, have significantly influenced SHIB’s price.
For context, Shiba Inu boasts a correlation of 83% with Dogecoin over the past 30 days, soaring to 88% in the past two months. However, Shiba Inu’s correlation with other top assets like Bitcoin and Ethereum has been low compared to Dogecoin.
This indicates that SHIB has been moving in tandem with Dogecoin’s price movement than any other crypto over the past 60 days.
Shiba Inu Price if Dogecoin Hits $1T Market Cap
At press time, Shiba Inu’s market cap is $12.75 billion, trading at $0.00002134. Assuming Shiba Inu experiences a proportional surge of 1,865%, like Dogecoin on its way to a $1 trillion market cap, its price will soar to $0.0004193.
Therefore, if Dogecoin achieves a $1 trillion market cap, Shiba Inu’s price could rise to a staggering $0.0004193 per token.
At $0.0004193, Shiba Inu’s market cap will soar to $250.53 billion if SHIB’s circulating supply of 589.25 trillion tokens remains stable. Also, investors with portfolios of 100 million SHIB, currently worth $2,134 at the current price, will see their investments surge to $41,930 if SHIB hits a target of $0.0004193.
Similar Projections
The $0.0004193 target aligns with several optimistic predictions top experts have issued for Shiba Inu.
Last month, pseudonymous market observer CryptoELITES identified the formation of a bullish cup and handle pattern on Shiba Inu’s chart, forecasting a rise to $0.000472905 this cycle.
In October, popular market analyst Cantonese Cat referenced Shiba Inu’s 2023 performance to project a potential surge to $0.00047. Cantonese Cat emphasized that Shiba Inu was the only crypto asset flashing a buy signal at the time.
Even though Shiba Inu has demonstrated its prowess for recording substantial gains, its potential to hit the $0.0004193 target depends on several factors, ranging from market sentiment to burns. A considerable portion of Shiba Inu’s 589.25 trillion must be incinerated to hit the target quickly.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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Reasons Why Shiba Inu Price Will Hit $0.001 In January
Discover Shiba Inu price rally fueled by Shibarium adoption, strategic burns, and bullish market trends as SHIB eyes $0.001 in January.
The year 2025 has started with a notable rally for Shiba Inu price, marking a 10% increase over the past 24-hours. After a period of stagnation, the SHIB has broken out from market consolidation, leading the charge among the top 10 meme cryptocurrencies. This surge has sparked optimism, with projections suggesting SHIB could reach $0.001 by January as the market looks to extend its gains.
Can Shiba Inu Price Hit $0.001 in January?
Shiba Inu price momentum is on an upward trajectory as it firmly holds above the $0.00002 mark, entering 2025 with a robust performance. In the past 12 months, the Shiba coin market witnessed a remarkable 104% increase. The question is whether the SHIB will reach $0.001 this month. Following the below reasons, the SHIB price may see a rally. In the last 24 hours, the sector has seen over 10% growth, with significant gains across key best meme coins like Dogecoin, WIF, and ai16z, potentially driving SHIB’s price even higher.
As of today most of the crypto market has seen a rebouns with Bitcoin price has surged above $96k fueling the rally. A critical factor in SHIB’s rising price is the growing adoption of the Shibarium Layer 2 solution, which enhances the coin’s utility and user base. The SHIB community’s efforts in ecosystem development are also pivotal, marking a community-driven surge in its market value.
Breaking through the critical resistance level of $0.000025 could unleash a new wave of bullish momentum for Shiba Inu price. Market watchers should keep an eye on trading volumes as an increase could reinforce this new support level, indicating strong market approval.
The Shibarium platform’s adoption continues to be a crucial driver for Shiba Inu, promising greater transaction efficiency within its network. Additionally, broader market trends in cryptocurrency will play a significant role in shaping SHIB’s path forward.
SHIB Burns Surges 105%
The SHIB community has reported a 105% increase in coin burns, effectively removing 584,175,384,093,818 SHIB from circulation. This aggressive burn strategy is expected to further fuel price gains in the past day.
An intriguing development is the upcoming inauguration of Donald Trump on January 20, 2025. The market experts predict could boost Shiba Inu and other crypto markets. Trump’s supportive stance on the cryptocurrency market, coupled with Tesla CEO Elon Musk’s involvement in governmental blockchain initiatives, is expected to influence the market positively.
Shiba Inu Price Analysis
The latest SHIB Price trading at $0.00002292, making a 10% in the past 24-hours in the U.S trading hours. If the Bullish mounts more pressure the Shiba Inu Price prediction could break severely key level. However if bears makes another comeback, the top meme coins will break below $$0.00002 support level. The Relative Strength Index is hovering above 60 nearing the overbought region. This signals the bullish signal on the 4-hour time frame.
Shiba Inu price is poised for significant gains, with forecasts suggesting a potential rise to $0.001 in January 2025. As the market sentiment remains high, and with strategic burns reducing supply, Shiba Inu’s financial trajectory looks promising.
The year 2025 has started with a notable rally for Shiba Inu price, marking a 10% increase over the past 24-hours. After a period of stagnation, the SHIB has broken out from market consolidation, leading the charge among the top 10 meme cryptocurrencies. This surge has sparked optimism, with projections suggesting SHIB could reach $0.001 by January as the market looks to extend its gains.
Can Shiba Inu Price Hit $0.001 in January?
Shiba Inu price momentum is on an upward trajectory as it firmly holds above the $0.00002 mark, entering 2025 with a robust performance. In the past 12 months, the Shiba coin market witnessed a remarkable 104% increase. The question is whether the SHIB will reach $0.001 this month. Following the below reasons, the SHIB price may see a rally. In the last 24 hours, the sector has seen over 10% growth, with significant gains across key best meme coins like Dogecoin, WIF, and ai16z, potentially driving SHIB’s price even higher.
As of today most of the crypto market has seen a rebouns with Bitcoin price has surged above $96k fueling the rally. A critical factor in SHIB’s rising price is the growing adoption of the Shibarium Layer 2 solution, which enhances the coin’s utility and user base. The SHIB community’s efforts in ecosystem development are also pivotal, marking a community-driven surge in its market value.
Breaking through the critical resistance level of $0.000025 could unleash a new wave of bullish momentum for Shiba Inu price. Market watchers should keep an eye on trading volumes as an increase could reinforce this new support level, indicating strong market approval.
The Shibarium platform’s adoption continues to be a crucial driver for Shiba Inu, promising greater transaction efficiency within its network. Additionally, broader market trends in cryptocurrency will play a significant role in shaping SHIB’s path forward.
SHIB Burns Surges 105%
The SHIB community has reported a 105% increase in coin burns, effectively removing 584,175,384,093,818 SHIB from circulation. This aggressive burn strategy is expected to further fuel price gains in the past day.
An intriguing development is the upcoming inauguration of Donald Trump on January 20, 2025. The market experts predict could boost Shiba Inu and other crypto markets. Trump’s supportive stance on the cryptocurrency market, coupled with Tesla CEO Elon Musk’s involvement in governmental blockchain initiatives, is expected to influence the market positively.
Shiba Inu Price Analysis
The latest SHIB Price trading at $0.00002292, making a 10% in the past 24-hours in the U.S trading hours. If the Bullish mounts more pressure the Shiba Inu Price prediction could break severely key level. However if bears makes another comeback, the top meme coins will break below $$0.00002 support level. The Relative Strength Index is hovering above 60 nearing the overbought region. This signals the bullish signal on the 4-hour time frame.
Shiba Inu price is poised for significant gains, with forecasts suggesting a potential rise to $0.001 in January 2025. As the market sentiment remains high, and with strategic burns reducing supply, Shiba Inu’s financial trajectory looks promising.
40 Trillion Shiba Inu (SHIB) Support Is Ready: What Comes Next?
Shiba Inu might see long-awaited recovery after this support gets activated
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Despite a general market slowdown, Shiba Inu has been having trouble gaining traction, but a major support level may be approaching. Supported by a huge trading volume of 40 trillion SHIB, data from the In/Out of the Money Around Price (IOMAP) metric indicates that if SHIB continues to decline, it will activate a strong support level around $0.000022.
Because 23,170 addresses have accumulated SHIB in this price range, making it a bull market stronghold, this level is crucial. These support clusters have historically given assets the stability they need to stage significant recoveries. The price of SHIB may serve as a springboard if it gets close to this area, easing selling pressure and providing bulls with an opportunity to gain ground.
The price of SHIB is currently at $0.00002236, just above the critical support zone that the IOMAP has shown. With the 100 EMA offering more support, SHIB's price looks to be consolidating on the daily chart. For the asset to resume its upward trajectory, it must overcome resistance at $0.000025.
#Shibalnu @Shiba Inu
Shiba Inu might see long-awaited recovery after this support gets activated
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Despite a general market slowdown, Shiba Inu has been having trouble gaining traction, but a major support level may be approaching. Supported by a huge trading volume of 40 trillion SHIB, data from the In/Out of the Money Around Price (IOMAP) metric indicates that if SHIB continues to decline, it will activate a strong support level around $0.000022.
Because 23,170 addresses have accumulated SHIB in this price range, making it a bull market stronghold, this level is crucial. These support clusters have historically given assets the stability they need to stage significant recoveries. The price of SHIB may serve as a springboard if it gets close to this area, easing selling pressure and providing bulls with an opportunity to gain ground.
The price of SHIB is currently at $0.00002236, just above the critical support zone that the IOMAP has shown. With the 100 EMA offering more support, SHIB's price looks to be consolidating on the daily chart. For the asset to resume its upward trajectory, it must overcome resistance at $0.000025.
#Shibalnu @Shiba Inu
Shiba Inu Team Reacts to SHIB 2024 Transformative Journey, Says ‘What a Wonderful Wrap of the Year
#Crypto2025Trends #SHIB
#Crypto2025Trends #SHIB
1 $TRB = $100🔥🔥
Elon Musk, Donald Trump and RFK Jr. enjoying McDonald's on the plane.
Will Elon buy McDonald's??
Trade Now 👇👇👇
#elonmusk #donattrum
Elon Musk, Donald Trump and RFK Jr. enjoying McDonald's on the plane.
Will Elon buy McDonald's??
Trade Now 👇👇👇
#elonmusk #donattrum
@Shiba Inu Shiba Inu (SHIB) is a meme token which began as a fun currency and has now transformed into a decentralized ecosystem. During the initial launch, 50% of the supply was allocated into Vital ikr But Erin's ethereum wallet. As a result of that, Vitalik proceeded to donate 10% of his SHIB holdings to a COVID-19 relief effort in India and the remaining 40% is burnt forever. That donation was worth about $1 billion at that time, which makes it one of the largest donation ever in the world. What is the Shiba Inu community working on right now? The Shiba Inu team launched a decentralized exchange called Shiba swap with 2 new tokens, LEASH and BONE. LEASH is a scarce supply token that is used to offer incentives on Shibaswap. BONE is the governance token for holders to vote on proposals on Doggy DAO
@Shiba Inu #shibainu
@Shiba Inu #shibainu
Binance Futures Launches CGPT/USDT Perpetual Contract
Trade $CGPT Perpetual Futures On Binance!
Binance Futures has announced the launch of the CGPT/USDT Perpetual Contract, which will go live on December 20, 2024, at 19:15 UTC.
This new addition offers traders the ability to leverage up to 75x and trade CGPT/USDT 24/7 with USDT as the settlement asset. It's also an exciting step for the ChainGPT token, reflecting its growing presence in the crypto ecosystem.
According to Binance’s announcement, the CGPT/USDT contract will support Multi-Assets Mode, allowing traders to “use a range of margin assets, such as BTC, to trade CGPT/USDT.” The funding rate is capped at ±2.00%, with settlements occurring every four hours to maintain a predictable trading environment.
What Are Futures Contracts?
Futures contracts are agreements to buy or sell an asset at a predetermined price at a specific time in the future. Perpetual contracts, like CGPT/USDT, take this a step further by removing the expiration date. Perpetual contracts are a versatile tool that allow users to engage with market movements across various timeframes, making them a popular choice for traders.Quote from Ilan Rakhmanov, Founder of ChainGPT and CEO of ChainGPT Software:
“The listing of CGPT/USDT on Binance Futures is a testament to the token’s utility and importance in the Web3 space. It offers our community another dynamic way to engage with CGPT while showcasing its role in the expanding ChainGPT ecosystem.”
Traders interested in the CGPT/USDT perpetual contract can access it starting on December 20. For more details on Binance Futures trading rules and margin requirements, visit Binance’s official support pages.
Binance Futures has announced the launch of the CGPT/USDT Perpetual Contract, which will go live on December 20, 2024, at 19:15 UTC.
This new addition offers traders the ability to leverage up to 75x and trade CGPT/USDT 24/7 with USDT as the settlement asset. It's also an exciting step for the ChainGPT token, reflecting its growing presence in the crypto ecosystem.
According to Binance’s announcement, the CGPT/USDT contract will support Multi-Assets Mode, allowing traders to “use a range of margin assets, such as BTC, to trade CGPT/USDT.” The funding rate is capped at ±2.00%, with settlements occurring every four hours to maintain a predictable trading environment.
What Are Futures Contracts?
Futures contracts are agreements to buy or sell an asset at a predetermined price at a specific time in the future. Perpetual contracts, like CGPT/USDT, take this a step further by removing the expiration date. Perpetual contracts are a versatile tool that allow users to engage with market movements across various timeframes, making them a popular choice for traders.Quote from Ilan Rakhmanov, Founder of ChainGPT and CEO of ChainGPT Software:
“The listing of CGPT/USDT on Binance Futures is a testament to the token’s utility and importance in the Web3 space. It offers our community another dynamic way to engage with CGPT while showcasing its role in the expanding ChainGPT ecosystem.”
Traders interested in the CGPT/USDT perpetual contract can access it starting on December 20. For more details on Binance Futures trading rules and margin requirements, visit Binance’s official support pages.
Why The Doge coin And Shiba Inu Prices Crashed
The Doge coin and Shiba Inu prices share a positive correlation with the flagship crypto, so it was expected that they would also follow suit as BTC corrected. If the Bitcoin continues to drop, then the Doge coin and Shiba Inu prices are also at risk of further declines.
What Next For DOGE?
In a recent X post, Kevin Capital mentioned that the bias is to the downside in the short term for the Doge coin Price. This came as he revealed that Dogecoin has witnessed seven straight candles in a row and failed to get above the Macro .786 Fib. The analyst added that DOGE is also losing the macro .5 Fib on the linear chart.
Related Reading: XRP Price Breaks Out On The Daily Chart, Rise To $5.85 Is Possible If This Happens
Meanwhile, Kevin also alluded to Bitcoin, considering the impact the flagship crypto could have on the Dogecoin and Shiba Inu prices by extension. The analyst stated that Bitcoin is getting rejected at the macro 1.703 level and printing a bearish daily candle while having a massive amount of long liquidity to the downside.
However, the analyst is confident these coins will still regain bullish momentum. He stated that people are overreacting to Powell’s speech and that the dip will be bought. In line with this, he remarked that this is a normal market correction.
The Doge coin and Shiba Inu prices share a positive correlation with the flagship crypto, so it was expected that they would also follow suit as BTC corrected. If the Bitcoin continues to drop, then the Doge coin and Shiba Inu prices are also at risk of further declines.
What Next For DOGE?
In a recent X post, Kevin Capital mentioned that the bias is to the downside in the short term for the Doge coin Price. This came as he revealed that Dogecoin has witnessed seven straight candles in a row and failed to get above the Macro .786 Fib. The analyst added that DOGE is also losing the macro .5 Fib on the linear chart.
Related Reading: XRP Price Breaks Out On The Daily Chart, Rise To $5.85 Is Possible If This Happens
Meanwhile, Kevin also alluded to Bitcoin, considering the impact the flagship crypto could have on the Dogecoin and Shiba Inu prices by extension. The analyst stated that Bitcoin is getting rejected at the macro 1.703 level and printing a bearish daily candle while having a massive amount of long liquidity to the downside.
However, the analyst is confident these coins will still regain bullish momentum. He stated that people are overreacting to Powell’s speech and that the dip will be bought. In line with this, he remarked that this is a normal market correction.
Shiba Inu Whale Makes $109 Million Profit Amid SHIB Price Crash
A savvy SHIB investor turned $3,800 into $109M, selling 250 billion tokens recently.
The whale’s early SHIB investment grew to $1.22 billion during the token’s all-time high.
Shiba Inu’s price declined to $0.0000241, raising concerns about its short-term performance.
Shiba Inu (SHIB) has come a long way from being a meme coin to a major player in the crypto world. With an impressive 153.3% price increase over the past year, SHIB continues to surprise investors and analysts.
Advertisement
Recently, a Shiba Inu whale made headlines by selling a huge chunk of tokens, yet still walked away with an astonishing $109 million profit. How?!
Read on for the full story.
Early Investment Pays Off
According to blockchain analytics platform Lookonchain, the whale’s journey began on August 6, 2020, with a small investment of $3,800 to buy 15.28 trillion SHIB tokens.
As SHIB’s price soared over time, the whale’s investment grew significantly. At its peak, their holdings were worth $1.22 billion, making it one of the most profitable trades in cryptocurrency.
Even after selling a large portion of its holdings, the whale still owns 2.15 trillion SHIB tokens, valued at $52.18 million. With total profits of $109 million from this venture, it highlights the power of early investments in Shiba Inu.
Shiba Inu Price Analysis
At the moment, Shiba Inu is experiencing pressure, with its price dropping 5.57% in the past 24 hours. Trading around $0.0000241, its market cap stands at $14.1 billion. This recent dip has raised concerns about SHIB’s performance in the short term.
Technical indicators, like the Bollinger Bands, suggest SHIB’s price might fall further in the short term. The lower band indicates the token could dip to $0.0000238, possibly reaching as low as $0.0000228 in search of a local bottom.
A savvy SHIB investor turned $3,800 into $109M, selling 250 billion tokens recently.
The whale’s early SHIB investment grew to $1.22 billion during the token’s all-time high.
Shiba Inu’s price declined to $0.0000241, raising concerns about its short-term performance.
Shiba Inu (SHIB) has come a long way from being a meme coin to a major player in the crypto world. With an impressive 153.3% price increase over the past year, SHIB continues to surprise investors and analysts.
Advertisement
Recently, a Shiba Inu whale made headlines by selling a huge chunk of tokens, yet still walked away with an astonishing $109 million profit. How?!
Read on for the full story.
Early Investment Pays Off
According to blockchain analytics platform Lookonchain, the whale’s journey began on August 6, 2020, with a small investment of $3,800 to buy 15.28 trillion SHIB tokens.
As SHIB’s price soared over time, the whale’s investment grew significantly. At its peak, their holdings were worth $1.22 billion, making it one of the most profitable trades in cryptocurrency.
Even after selling a large portion of its holdings, the whale still owns 2.15 trillion SHIB tokens, valued at $52.18 million. With total profits of $109 million from this venture, it highlights the power of early investments in Shiba Inu.
Shiba Inu Price Analysis
At the moment, Shiba Inu is experiencing pressure, with its price dropping 5.57% in the past 24 hours. Trading around $0.0000241, its market cap stands at $14.1 billion. This recent dip has raised concerns about SHIB’s performance in the short term.
Technical indicators, like the Bollinger Bands, suggest SHIB’s price might fall further in the short term. The lower band indicates the token could dip to $0.0000238, possibly reaching as low as $0.0000228 in search of a local bottom.
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