Shiba Inu ($SHIB ) is again struggling to reclaim the $0.00002500 level, although it briefly surpassed this mark earlier this month. SHIB is up by 1.1% in the weekly charts and 13.1% in the 14-day charts. However, the asset has faced a 0.9% correction in the daily and monthly charts.

The rally earlier this month may be due to the US SEC (Securities and Exchange Commission) approving all Ethereum (ETH) ETFs (Exchange Traded Funds). However, the market did not hold price levels, and a correction followed soon after the rally. It is possible that the ETH ETF was a ‘sell the news’ event, hence the rally was not sustainable. Or perhaps the rally has been delayed and will catch on later.
AI predicts Shiba Inu’s (SHIB) price for May 31, 2024
Shiba Inu (SHIB) may break out into a rally soon. According to CoinCodex, SHIB could hit $0.00002970 on May 31, 2024. Reaching $0.00002970 from current levels would translate to a growth of over 21%.
Furthermore, CoinCodex anticipates SHIB to continue its rally in June, hitting a high of $0.00008375 on June 24, 2024. Reaching $0.00008375 from current levels would translate to a growth of about 241.28%. If SHIB hits $0.00008375, it may surpass its previous high of $0.00008616.

Changelly also paints a similar image for Shiba Inu (SHIB) over the next few days. The platform predicts SHIB to hit $0.00002969 on May 31, 2024. Furthermore, Changelly anticipates SHIB to reach $0.00008373 on June 24, 2024.
The predicted rally could be due to the Ethereum (ETH) ETFs approved by the US SEC. Many analysts anticipate a market-wide rally, similar to the market rally after the SEC approved 11 spot Bitcoin (BTC) ETFs in January.

Source : Paigambar Mohan Raj (Watcher.guru)
#shibarium #shib #Shibainuholder #shibanews

The lead developer of Shiba Inu (SHIB) is denouncing the spread of fear, doubt, and uncertainty (FUD) as the crypto project launches the testnet of Shibarium, its new layer-2 project.

In a new blog post, pseudonymous SHIB developer Shytoshi Kusama aims to debunk a rumor allegedly started by a competitor that Shiba Inu creator Ryoshi is in fact Sam Bankman-Fried, the disgraced founder of bankrupt crypto exchange FTX.

Citing two pieces of “meme evidence” – his love of professional wrestling and his disdain for centralized exchange networks – Shytoshi says it’s not possible for Ryoshi to be Bankman-Fried.

“The biggest FUD and FUDDER goes to a dude making a competing product trying to convince you that [Sam Bankman-Fried] is Ryoshi. Now that the team, and everyone that ever saw Ryoshi post is done laughing, let’s give two pieces of meme evidence that this is not the case.

Ryoshi was a big fan of wrestling. WWF wrestling to be specific. He chose Gifs of people like Macho Man Randy Savage and Ric Flair! At one point we even considered getting Ric Flair for a Shib commercial. [Bankman-Fried] wasn’t even BORN at this time. So how could he even know how to step into a Slim Jim? More importantly, Ryoshi, as seen in his posts, was NOT a fan of centralized exchanges (CEX) and would NEVER have run one himself. Do better fudders, do better.

So, as we continue forward, and our former, and new frens attempt to attack the army, produce new FUD, and even YOUR projects… stay strong. We are building for a better future. WOO!”

The highly anticipated Shibarium project launched in its beta form last week. Its testnet, called “Puppynet,” does not support real crypto tokens yet, but the development team says once the beta is finished, the platform will create a new ecosystem where tokens can be swapped using the digital asset ShibaSwap (BONE) to pay for gas fees.

SHIB is moving for $0.000011 at time of writing, a 2% gain on the day.

#SHIB #bone #shibarium #shibainu #koinmilyoner

Shiba Inu is among the tokens that use a burning mechanism. It has continually burnt millions of SHIBs to balance its demand and supply, sometimes pushing the price slightly. The network removed 490 million SHIBs in one day in this latest burn.

One of the ways of improving token value is by reducing its supply. The crypto industry uses the burning mechanism to execute the process. This mechanism enables tokens with uncapped supply to reduce the circulating amount in the market, thereby preventing over-saturation and price crashes. 

490 Million Shiba Inu Tokens Removed From The Market 

In the latest report by Shibburn.com, Shib developers removed 489,895,235 permanently from circulation. The SHIB burn tracker disclosed that the burning occurred in 24 hours through eight separate transactions. 

Among the eight transactions, a “Shib Inu: Deployer2” wallet burnt the highest number by sending 485,682,280 SHIB to the Shiba Inu burn address in a single transaction.  

Notably, the total Shiba Inu burn rate decreased by 71.28% from the previous day’s burn. According to the burn tracker, the previous day’s transactions involved 58 transfers to the burn wallet, destroying 2,204,313,475 SHIB tokens. 

Due to the address that burned the massive number of tokens, the community has linked it to the upcoming Shibarium Public Beta. Notably, the address is a SHIB contract deployer.

But while the burn continues, some notable SHIB token purchases confirm the interest in the Shibarium release. Top whales, including “BlueWhale0073” and others, have accumulated almost 215 billion tokens in 10 days. The report disclosed that these Ethereum investors consider SHIB’s price at $0.00001034 the best time to accumulate the tokens.

BlueWhale0073 alone purchased a whopping 215,815,570 539 SHIBs worth $2,209,951 from an unidentified address that paid $33.46 in nominal fees. 

Shibarium And The Latest Updates

The Shibarium launch has created an unending buzz in the crypto community. Shiba Inu community anticipates several benefits from the new project. The project aims to become a decentralized hub for SHIB holders to trade the tokens and earn rewards without centralized exchanges. 

Moreover, the platform promises fast, low-cost transactions on SHIB and other tokens. It also aims to correct the issues such as high fees and slow transaction speeds that permeate other DEXs, thereby ensuring a seamless trading experience.

Most importantly, the new project should increase the SHIB token value as it will create new use cases. Notably, the demand will spike as its utility increases, potentially boosting the price. The team has announced that the public beta will go live this week, and the community gladly awaits D-Day. 

The project is already increasing Shiba Inu adoption as many firms are integrating it for payments. Xeni, a travel booking platform, and BitPay have partnered and will use SHIB and other cryptos as payment. Also, NOWNodes, a blockchain node infrastructure provider, announced its plans to integrate Shibarium. 

#SHIB #shibarium #koinmilyoner #crypto2023 #buildtogether

The chain ID of the Shibarium testnet was a source of significant FUD.

Daily transactions on the test network zoomed to 718 on 24 March.

The FUD which gripped the Shiba Inu [SHIB] ecosystem since the testnet launch of layer-2 blockchain Shibarium, could soon be a thing of the past.

According to the latest update provided by a SHIB influencer, the chain ID of the Shibarium testnet, also called ‘Puppynet’, has been changed. As per a screenshot posted in the same thread, the new chain ID was 719.

The chain ID of the Shibarium testnet was a source of significant FUD.

Daily transactions on the test network zoomed to 718 on 24 March.

The FUD which gripped the Shiba Inu [SHIB] ecosystem since the testnet launch of layer-2 blockchain Shibarium, could soon be a thing of the past.

According to the latest update provided by a SHIB influencer, the chain ID of the Shibarium testnet, also called ‘Puppynet’, has been changed. As per a screenshot posted in the same thread, the new chain ID was 719.

Basis of the FUD

The chain ID of the Shibarium testnet became a bone of contention as soon as it was launched. A Shiba Inu discord channel member pointed out that Shibarium’s chain ID shared the same ID as the Rinia testnet blockchain.

The member insinuated that Shibarium might have copied the genesis file from the Rinia testnet and changed their name to Shibarium without changing the chain ID.

While Shibarium developers termed this as a coincidence, the revelation caused much furor in the SHIB community and the price of SHIB fell by more than 8%.

However, after the announcement of a new chain ID, the FUD might subside. And there were strong positive signs coming from Puppyscan, the Puppynet explorer. The daily transactions on the network zoomed to 718 on 24 March, after staying lulled for the last few days.

Furthermore, the Shibarium team was also working on the faucet update. Faucets are used to obtain the test cryptocurrency needed to interact with the testnet blockchain. The Shibarium faucet will utilize a BONE token in order to allow users and developers to perform tests on the network.

Whales are back in business?

Meanwhile, SHIB exchanged hands at $0.00001055 at the time of writing, falling by 1.21% over the previous day, per CoinMarketCap.

With clarity on chain ID in place, big addresses were attracted to SHIB. As per Santiment, the supply held by large addresses as a percentage of the total supply increased over the last two days.

However, despite the increase in transaction numbers, data from Shibburn revealed that the burn rate declined by over 92% in the last 24 hours, with a little over 1.34 million tokens removed from circulation.

#SHIB #shibarium #koinmilyoner #Fed #GPT-4

The Shiba Inu ecosystem has been under extreme pressure in recent weeks as a wave of controversy dealt a blow to the confidence of investors in the ecosystem.

From speculation that the Shibarium testnet chain is the same as Rinia’s, to BitBoy accusing Shytoshi Kusama as being Sam Bankman-Fried, fear, uncertainty, and doubt about the ecosystem worsened. 

However, investors seem thrilled about the recent release of the Shibarium testnet called PuppyNet. This overcame the FUD surrounding the ecosystem, showing investors that SHIB is resilient even with the odds stacked against them.

However, the confidence seemed to be shaken with CoinGecko showing SHIB shedding more than 6% in the weekly timeframe. 

Burn Rate Falls By Nearly 70% This Week 

The burn rate for Shiba Inu has been in decline following the token’s price drop in the past couple of weeks. ShibBurn, a dedicated Twitter account for tracking the burn rate of SHIB, recently took note of a 70% decline in burn rate in the weekly timeframe. This already recovered to a general decline of 63%, but it remains a problem in the long term. 

This followed the FUD surrounding the ecosystem which worsened with the recent accusations around Shibarium and Shytoshi. Despite this, the Shiba Inu community still seems bullish on Shibarium with Shytoshi reassuring the community. 

At $0.00001055, Should Shiba Inu Investors Worry?

As of writing, the token is currently trading at a very narrow range. If the token breaks through $0.00001077, SHIB can target $0.00001192 with confidence. Investors and traders can also enjoy the low correlation with the major currencies which is currently stagnant right now. 

However, investors should also take note of the macroeconomic developments that are currently affecting the broader financial market.

The recent interest rate hike by the US Federal Reserve would affect sentiment surrounding financial assets, especially cryptocurrencies like SHIB as they are riskier than traditional financial instruments. 

If the crypto market reacts negatively to the recent interest rate hike in the coming weeks, we might see pain come to SHIB. However, the recent speculation around a possible collaboration with Paramount Pictures should pump the price in a couple of days. 

In the meantime, Shiba Inu investors and traders should be confident in buying SHIB as it currently shows a minimal possibility of a downside with a higher likelihood of an explosive upside. 

#SHIB #shibarium #koinmilyoner #BNB #Binance

Shiba Inu developers announced the Shibarium public beta launch this week, fueling bullish sentiment among SHIB holders. 

The SHIB layer-2 scaling solution will provide cheaper transactions, enhanced scalability and security, after months of testing and development.

It remains to be seen whether Shiba Inu price will witness a 65% upswing or sell-off as Shibarium launch unravels.

Shiba Inu developers announced the launch of SHIB’s awaited layer-2 scaling solution Shibarium this week. Shibarium will enhance the scalability of SHIB and provide cheaper transactions to Shiba Inu holders. 

Also read: What to expect from Shiba Inu after Shytoshi raises prize pool for monthly Shiba Eternity tournament?

Shiba Inu holders gear up for Shibarium launch this week

Shiba Inu holders anticipated Shibarium launch since Shytoshi Kusama teased the development of a layer-2 scaling solution. Developers announced that Shibarium will be launched this week in a public beta.

The Shibarium team spent months developing and testing the layer-2 scaling solution before releasing public beta. The announcement was made on Twitter via the official SHIB account, it urged followers to stay tuned for more details on how to access the beta. The launch of the public beta is a significant milestone for the Shibarium project, spearheaded by lead developer Shytoshi Kusama. 

Will Shibarium launch trigger a 65% upswing or sell-the-news event?

Based on data from crypto intelligence tracker IntoTheBlock, the next key resistance for Shiba Inu is the area between $0.000014 and $0.000020. This is a key zone as 98,240 addresses bought 469.97 Trillion SHIB tokens at this level. 

Once Shiba Inu price climbs to the zone between $0.000014 and $0.000020, the wallet addresses that acquired SHIB at this price level will turn profitable. These SHIB wallet holders would sit on unrealized profits once Shiba Inu flips the resistance into support. 

As seen in the SHIB/USDT one-day price chart below, Shiba Inu could find intermediate support at $0.00000961. Buy-side liquidity is expected to come in at $0.00000772. The bullish targets for Shiba Inu in its upswing are at $0.00001581 and $0.00001797 as seen in the chart below.

Since the announcement, the Dogecoin-killer meme coin’s price climbed nearly 5% to $0.00001130. The Shiba-Inu-themed meme coin is trading at $0.00001125 at press time. 

#SHIB #shibainu #shibarium #buildtogether #Meme

Shiba Inu (SHIB) broke out from a descending resistance line.

It has completed an A-B-C correction.

Shiba Inu (SHIB) is following a short-term descending resistance line.

The Shiba Inu (SHIB) price has broken out from a long-term resistance line and shows signs of a completed correction.

The Shiba Inu coin price broke out from a descending resistance line in the end of January. Afterward, it reached a new yearly high of $0.0000154 before falling. The decrease caused a validation of the line as support on May 7 (black icon). While the price has bounced since, the daily RSI is still below 50. Therefore, it is not clear that the trend is bullish.

If the increase continues, the price of Shiba Inu could reach the $0.0000147 resistance area. However, if it falls below the descending resistance line, it will confirm that the trend is bearish. In that case, the downward movement could accelerate toward the next closest support at $0.00000850.

The technical analysis from the six-hour time frame suggests that the entire SHIB price correction may be complete. The reason is the wave count. SHIB completed a five-wave upward movement beginning in January and decreased in an A-B-C structure afterward. Waves A:C had an exactly 1:1 ratio.

Moreover, the overlap between the current high and the wave A low (red line) indicates that the correction is complete. A breakout from the short-term descending resistance line and reclaim of the 0.618 Fib (white) support would confirm this. However, if the SHIB token price fails to break out, a fall to the $0.00000850 support could follow.

To conclude, it is possible that the SHIB price completed an A-B-C correction and will increase toward at least $0.0000160. However, if it fails to break out from the descending resistance line, a fall to the $0.00000850 support area could follow.

#SHIB #koinmilyoner #BTC #Binance #shibarium