Bears have become more active at the end of the week, according to CoinMarketCap's ranking.

SHIB/USD

The price of SHIB has risen by 0.20% over the last 24 hours.

On the hourly chart, SHIB is trading near the local support level at $0.00001096. If a bounce-back does not happen, the breakout can lead to a sharp drop to the $0.00001050 area.

On the daily chart, the price of SHIB keeps accumulating energy as neither side has seized the initiative yet. If buyers want to see a midterm rise of SHIB, they need to restore the rate to the $0.00001150 mark and fix it above.

Only in that case is there a possibility of a breakout of the resistance at $0.00001169.

A similar situation is on the weekly time frame as the price is stuck in the middle of the channel. Low volume also confirms the ongoing sideways trading. All in all, further consolidation in the narrow range of $0.00001050-$0.000011 is the more likely scenario for the next few days.

SHIB is trading at $0.00001093 at press time.

#SHIB #SHIBAINU #crypto2023 #Binance #crypto

Positive sentiment has dominated the Shiba Inu (SHIB) market in the past 24 hours, with bulls thwarting the bear effort to control the market, which brought the price to an intra-day low of $0.00001065. Because of the bulls’ vigor, the SHIB price rose from the 24-hour low to an intra-day high of $0.00001157, where it met firm resistance.

The market’s positive optimism remained at press time, resulting in a 5.92% increase from the intra-day low to $0.00001135. If the bulls break through the resistance level, the following resistance levels could be $0.0000118 and $0.000012, while support levels might be $0.0000108 and $0.0000105 if the bears retake control.

Market capitalization and 24-hour trading volume increased by 6.01% and 140.21%, respectively, due to the optimistic attitude, reaching $6,696,499,422 and $546,774,675. The increase in market capitalization and trading volume suggests investors are bullish on the market’s prospects. This trend will continue if the bulls retain their momentum and break through the resistance levels.

SHIB/USD 24-hour price chart (source: CoinMarketCap)

The upward movement of the Average True Range (ATR) in the positive zone with a value of 0.00000031 indicates that SHIB bulls are gaining power and momentum in the market, signaling a probable bullish trend.

This action enhances the confidence of traders eager to purchase SHIB and may increase trading volume and price appreciation in the near run.

A Chaikin Money Flow (CMF) value of 0.18 on the SHIB/USD 4-hour price chart indicates a net influx of money into the SHIB market, supporting the probable bullish trend. Nevertheless, if the CMF score falls below zero, it may signify a negative trend and a potential market sell-off.

SHIB/USD chart (source: TradingView)

The recent crossing of the Fisher Transform above its signal line with a value of 0.77 indicates that bullish momentum in SHIB has acquired traction and may continue to drive the price higher in the near term.

To add to the optimistic attitude, the Klinger Oscillator has a value of 23.41, indicating that there is significant purchasing pressure in the market and that the trend may continue to be suitable for SHIB in the foreseeable future.

These patterns suggest that SHIB might be a substantial investment opportunity for traders trying to profit from the positive momentum. Still, monitoring any market volatility and appropriately modifying trading methods is critical.

SHIB/USD chart (source: TradingView)

SHIB’s positive sentiment continues to surge as bulls push past resistance levels, signaling a probable bullish trend with increasing trading volume and market capitalization.

#SHIB #SHIBAINU #Binance #crypto2023 #crypto

Shiba Inu (SHIB) has recently experienced an unexpected downturn after failing to break through the local resistance level previously mentioned on U.Today. Instead of continuing its upward momentum, the token encountered a swift reversal from the local 200-day moving average, causing it to plummet by 8.8% in just two days.

This sudden reversal could raise concerns among investors, as it may suggest that the asset lacks the buying pressure necessary to sustain its upward trajectory. The inability to breach the local resistance and the subsequent sharp decline could indicate a bearish trend in the short term, potentially leading to further price depreciation.

Swift reversals, such as the one witnessed on Shiba Inu's recent price action, can often signify a change in market sentiment or a shift in investor confidence. In this case, the market may have turned more bearish on SHIB, prompting traders to sell off their holdings and take profits. This selling pressure may be the primary driver behind the token's abrupt drop in value.

Arbitrum is on fire, but for wrong reasons

Arbitrum, a Layer 2 scaling solution for Ethereum, is currently experiencing market pressure following the release of a controversial proposal that would permit the foundation to spend an additional 750 million tokens on their requirements. This proposal has sparked debates and raised concerns about the decentralized nature of the project, as a portion of these funds has already been utilized prior to the vote.

The controversy surrounding the proposal has led to increased selling activities on the market, despite the foundation's efforts to address concerns. Investors and community members are questioning the transparency and governance practices of the project, as the proposal appears to concentrate power in the hands of the foundation.

This situation has highlighted the critical importance of decentralized governance and decision-making in blockchain projects. As more stakeholders become involved in a project, it is essential to ensure that decisions are made collectively and transparently to maintain trust and support from the community.

Arbitrum's controversial proposal has not only affected the project's market performance but has also cast doubt on its commitment to decentralization.

Solana is becoming anemic

Solana (SOL), a high-performance blockchain platform, appears to be entering another stagnation period following a significant decrease in trading volume on the market. This drop in volume has led to a more subdued price performance, raising concerns among investors and traders.

Since the FTX implosion, Solana has faced challenging times on the market as its primary driver vanished. This unfortunate event has left the project struggling to maintain its momentum, with the network encountering several obstacles that have hindered its growth.

One of the primary issues facing Solana is its notorious downtimes and technical difficulties. The network has experienced multiple instances of outages, undermining its reputation as a reliable and scalable platform. These technical challenges not only impact the platform's users but also discourage new investors from entering the ecosystem.

Moreover, Solana is facing increasing competition from other blockchain platforms, particularly Ethereum, which offers similar functionality but with greater convenience.

#SHIB #SHIBAINU #crypto2023 #Binance

The long-awaited documentation detailing an overview of the Shibarium Layer 2 protocol and its operations has now been made public, as reported by U.Today.

Nice! Also 10,000 times lower fee than etherium! Someone do that math real quick. I'm bad. If I paid $10 in Eth fees last transaction and it's now 10,000x lower how much Shib will burn?! 🚀 🌙 pic.twitter.com/rMm9NHe1Lo

— OhGodYes (@ohgodyes) March 24, 2023

According to the documents, Shibarium would be 10,000 times cheaper than Ethereum. Shibarium transaction fees are separated into base and priority fees.

The base fee is a crucial component of transaction fees on a blockchain. When a user makes a transaction on the network, the base fee is locked in a contract on Shibarium, while the priority fee is paid to the validator.

The part that excites the SHIB community is that this base fee will be split into 70% that will be burned and 30% that will be set aside to maintain the network.

During this process, accumulated BONE is sent to Ethereum's L1, where an automated swap for SHIB occurs, and this amount is burned by invoking its contract function.

Users will be able to use a specific portal on Shibarium's website for this process, the document states.

Other developments: Shibarium new ID chain, new Discord, Shiba Eternity

In positive developments, the chain ID of the Shibarium testnet has been changed from 917 to 719.

💢 BREAKING 💢#Shibarium Testnet Chain ID has officially been updated to 719. pic.twitter.com/5f239dRTwd

— SHIB HODLER (@ShibaInuHodler) March 24, 2023

SHIB developer Kaal Dhairya said that a new chain ID would be deployed for Shibarium beta after similarities between its chain ID and that of Rinia sparked speculation.

Following the events that stirred up FUD in the Shiba Inu community, Shiba Inu lead Shytoshi Kusama has unveiled a new Discord channel for Shibarium-related discussions.

#shibaeternity #Shibarmy $Shib #Shib #Shiboshis pic.twitter.com/9pYVHhdCRD

— Mazrael (@_Mazrael_) March 24, 2023

Shiba Eternity, Shiba Inu's CCG game that launched in October last year, has gotten a new update. The new version 1.1.7 onboard memory optimizations, rampage sequencing and performance optimizations are aimed at improving the user experience.

#SHIB #SHIBAINU #Binance #crypto2023

Shibarium Public Beta Testnet Launch Drives Massive Growth in Shiba Inu’s Network Activity.

Shiba Inu has seen a record surge in network activity since the start of the year. The number of active addresses interacting on the SHIB network reached nearly 36,000 in late March 2023, according to analyst Ali Martinez, citing data from the Santiment portal.

Over a year, the Shiba Inu cryptocurrency experienced a significant surge in daily active addresses, with 35,788 distinct SHIB addresses engaging on the network, marking the highest spike to date.

#ShibaInu saw the largest spike in daily active $SHIB addresses over a year, with ~35,788 unique #SHIB addresses interacting on the network! pic.twitter.com/gNoH7UrYgf

— Ali (@ali_charts) April 1, 2023

This surge is attributed mainly to the success of Shibarium Public Beta Testnet, Puppynet, which has surpassed 200,000 wallet addresses and processed over 1 million transactions in just one week since its launch.

Despite the growing interest in Shiba Inu, the price has remained relatively stable, trading within a narrow range of $0.00000964 to $0.00001167 since March 3, 2023. However, the growing community of Shiba Inu holders and investors could push the price higher and overcome the critical resistance level at $0.00001167 on the 4-hour chart.

As of press time, Shiba Inu is trading at $0.00001081, experiencing a decline of -3.95% over the past day, with a 24-hour trading volume of $225,800,648 ($225.80M).

Shiba Inu’s WAGMI Temple Hub Featured in Forbes Tech Article: On the other hand, Shiba Inu’s Metaverse WAGMI Temple Hub, which debuted at this year’s SXSW festival, has recently caught the attention of the American business magazine Forbes. The popular project was mentioned in a recent tech article for its innovative approach to the Metaverse.

$65.44 Million Worth of Shiba Inu Moved to Coinbase: Recently, it has been reported that three unidentified wallets have transferred an enormous 6,087,952,185,063 (6.08T) SHIB tokens, worth $65.44M, to a Coinbase-associated wallet named “Coinbase 10.”

#SHIB #SHIBAINU #crypto2023 #Binance #crypto

Popular meme coin Shiba Inu (SHIB) is witnessing a major change in the number of large transactions processed through its network, according to the crypto analytics firm IntoTheBlock.

IntoTheBlock defines large transactions as transfers that are bigger than $100,000 and says the metric “acts as a proxy” for the activity of institutional investors and high-net-worth individuals.

According to the analytics firm, Shiba Inu’s current large-transaction momentum indicator is down 3.08%, which it says is a bearish signal.

SHIB is trading at $0.000011 at time of writing. The 15th-ranked crypto asset by market cap is down more than 1.70% in the past 24 hours and more than 15% in the past 30 days. Even with the recent correction, the Ethereum (ETH)-based memecoin is up 37.5% since the start of 2023.

IntoTheBlock also reports that the vast majority of SHIB holders continue to remain underwater on their investments in the asset.

The insights firm notes that only 30% of SHIB holders are making money at the asset’s current price, compared to 5% that are breaking even and 65% that are sitting on losses.

The firm also says 67% of Shiba Inu holders have held on to their SHIB for over a year, with 30% owning the top meme token for a period of between one month and 12 months. The remaining 3% of SHIB holders have owned their Shiba Inu for less than a month.

Shiba Inu remains more than 87% down from its all-time high of $0.00008616, which it hit in late October 2021.

#SHIBAINU #SHIB #Binance

Previous year's meme coins become this year's serious coins! I love #crypto and big things are happening for #SHIB and #SHIBARIUM

#SHIBAINU #SHIBARMY

Elon Musk's recent move of replacing Twitter's bird symbol with the #DOGE #SHIBAINU dog has resulted in a significant surge of over 30% in the cryptocurrency's price. Musk's lawyers had recently requested a federal judge to dismiss the $258 billion lawsuit against him that accuses him of manipulating Dogecoin's price and inflating it by 36,000%. The lawsuit had also named Tesla, Twitter, and the Boring Company as co-defendants.

Musk's tweets have been known to influence Dogecoin's price, with most of his comments causing significant fluctuations. Dogecoin, which started as a joke coin in 2013, is now the eighth most valuable cryptocurrency with a market cap of around $13 billion. While the lawsuit against #ELONMUSK claims his comments on Dogecoin were manipulative, his lawyers have defended them as "innocuous and often silly."

Musk's recent move to replace Twitter's bird symbol with Dogecoin's shiba inu dog has not only caused a surge in the cryptocurrency's price but has also sparked memes and celebrations on social media. Dogecoin's official Twitter account also posted a meme to mark the occasion. The move by Musk is daring, considering the ongoing lawsuit against him, but it is another example of his influence on the cryptocurrency market.

#SHIB #Binance

DOKE is a cryptocurrency project that aims to provide an ecosystem for safe and efficient transactions. The project is commited to transparency. The team behind DOKE is dedicated to providing users with accurate and up-to-date information about the project, including details about development progress and upcoming features. The DOKE community is also very active, with regular updates and discussions taking place on social media and other platforms.

The DOKE token itself is designed to be a utility token, providing users with access to various features and benefits within the DOKE ecosystem. For example, users can use DOKE tokens to pay for transaction fees within the DOKE wallet or to access premium features such as advanced trading tools.

The DOKE wallet is designed to provide users with a seamless and intuitive experience. It allows users to easily send and receive DOKE tokens, as well as other popular cryptocurrencies such as Bitcoin and Ethereum. The wallet also features a built-in exchange, allowing users to quickly swap between different cryptocurrencies without the need for an external exchange.

The project was also followed by the #SHIBAINU dev recently...

You can check some of the DOKE WALLET features in the screenshots bellow

The DOKE WALLET is built for those looking to invest and store their tokens in a private and independent manner. It's a non-custodial, peer-to-peer wallet where only the user has control over the funds. It doesn't collect any data and keeps the user independent by not locking the user's funds to a specific wallet app.

The DOKE WALLET is fully open-source and anyone can confirm the app works exactly as it claims to.

The DOKE team believes that this wallet is significantly more advanced than any other out there!

Worth mentioning that DOKE will expand to the #SHIBARIUM Chain very soon!

Shibarium embarks on becoming a powerful Layer 2 blockchain and a transitional evolution to the Shiba Ecosystem. Shibarium’s layer 2 is a collective blockchain that scales and invites solutions, innovation, and security to the Decentralized Finance Space.

This blockchain (L2) runs on top of the Ethereum blockchain, which the SHIB ecosystem tokens (SHIB, LEASH & BONE) utilize. A Layer 2 blockchain provides the benefits of scalability, faster transaction times, lower fees, and an expanded development framework.

With the evolution of Web 3, blockchain technology is starting to emerge into the commonplace. Some of the biggest obstacles to mainstream adoption are the cost and speed of transactions.

Shibarium’s Layer 2 blockchain protocols can serve different industry areas such as metaverse, web3 innovation, and gaming. This is primarily due to the commonality of scalability and performance limitations of current existing blockchain networks.

This layer aims, as a protocol, to work on top of existing blockchain networks, allowing for faster, cheaper, and more private transactions to be processed off-chain, while still relying on the security of the underlying blockchain.

This can help to reduce the load on the blockchain network and improve the user experience for metaverse and gaming applications. Combined, web3 and Shibarium's layer 2 blockchain technology can enable a new decentralized metaverse and gaming ecosystem, where players can interact and transact in a decentralized way and where players can own, buy and sell the digital assets they acquire.

Something i kept for the end... More of this on a later article!

DOKE & DOKE WALLET seem they have a bright future and they're adapting to the rapidly changing market!

This is the only way for a project to stay alive and thrive!

#BTC #crypto2023 #buildtogether

Over the past month, the Shiba Inu (SHIB) token has seen a remarkable 5% increase in the number of holders who have become trillionaires, bringing the total count to 42. This growth has also occurred in the segment of investors holding between 1 million and 10 million SHIB tokens. The surge in the number of whales, or large token holders, can have significant implications for market dynamics and the price performance of the meme cryptocurrency.

The growth in the number of Shiba Inu trillionaires can be interpreted in multiple ways from a market perspective. On one hand, it may suggest heightened interest in the token and its potential for growth. As the number of whales increases, it can create a sense of optimism among investors, leading to a surge in demand for the token and a subsequent rise in its price.

Conversely, an increase in whale activity could also be a cause for concern. With a higher concentration of wealth in the hands of a few holders, the market becomes more susceptible to manipulation and large price swings. In such a scenario, a single sell-off by one of the whales could trigger a domino effect and lead to a significant drop in the token's value.

In the case of Shiba Inu, the token has experienced a 7% decline in its value over the last six days, trading at $0.00001. This downward trend could be attributed to various factors, including the recent decrease in the overall demand for risk on the cryptocurrency market. It is important to consider the potential influence of the growing number of whales on this price performance, as it may exacerbate the volatility of the token.

#SHIB #SHIBAINU #Meme #Binance #crypto2023