Will Shiba Inu (SHIB) Lead The Memecoin Bull Run?
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Shiba Inu (SHIB) has built momentum this week following an increase in burn rates and whale transactions amid other factors.
Shiba Inu (SHIB) is igniting bullish interest in the cryptocurrency market following a wave of positive on-chain factors spurring price growth.
At press time, SHIB trades at 0.0000227, an 8% increase this week despite facing slight short-term corrections.
The uphill rally in SHIB and memecoins has been tipped by multiple traders on social media spaces as ushering in the next market bull phase. Shiba Inu’s market capitalization stands over $13.4 billion with daily trading volumes almost at $400 million.
Shiba Inu recorded surging transactions alongside its price uptick. The memecoin notched an increase in daily volumes and new active accounts on the back of network upgrades.

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#Bitcoin #Ethereum #SHIB #ShibaInu $SHIB

Shiba Inu’s partner, Bad Idea, has shared a potential design for its upcoming branded Tangem wallet. The project shared the concept in a tweet yesterday, emphasizing that the design is currently under consideration.
Bad Announces Upcoming Branded Tangem Wallet
Notably, Bad Idea first announced its upcoming Tangem branded wallet in an August 30 tweet. The Shiba Inu partner created a poll on the X platform, asking its followers to indicate whether they would buy three BAD-branded Tangem wallets for the price of $55.90.
“If $bad is supported as a branded card, you could buy , transfer , and swap $bad within the native app along with staking. For ~55.90 for a pack of 3 , would you buy it?” Bad Idea quizzed.
Interestingly, out of the 719 X users who participated in the poll, 86.4% declared they would purchase the wallet. However, 13.6% of voters were against it.
In response, the team behind Bad expressed gratitude to its community members for voting in support of a branded wallet.
Bad Gets Listed on Tangem
It bears mentioning that the initiative comes over a month after the crypto hardware wallet provider added BAD to its list of supported assets.
Tangem rolled out support for BAD shortly after Shiba Inu’s marketing specialist Lucie made the request.
Bad Benefits from Shiba Inu’s Partnership
Seeing Shiba Inu’s marketing specialist demand for BAD’s listing on Tagem is unsurprising. Bad Idea is a prominent partner of Shiba Inu. Shytoshi Kusama, the lead developer of Shiba Inu, announced the partnership last month.
Notably, the partnership has benefited Bad Idea immensely, as it has enjoyed free support from Shiba Inu community members.
As reported earlier, Lucie urged Shiba Inu community members to support a proposal that would give Bad Idea a free CertiK audit.
Launched in May, Bad Idea has made significant progress in the crypto industry. The project offers innovative crypto solutions by combining artificial intelligence, blockchain, and DAOs.
BAD has a market cap of $19.43 million, ranking as the 639th biggest crypto asset in the world. At press time, BAD is trading at $0.000000037049, down 5.3% over the past 24 hours, according to CoinGecko data.
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#Shibainu #Shib $SHIB

In a notable development within the cryptocurrency realm, a Shiba Inu whale has made headlines by purchasing a mammoth 690 billion SHIB tokens. This significant move comes amidst the meme coin's fluctuating price, igniting speculation of an impending rally that could bolster SHIB's market position.
Whale's Strategic Accumulation Amid Market Volatility
Shiba Inu, has been at the center of market attention due to its volatile price movements. The recent purchase by a whale, identified through data from Whale Alert, involves an acquisition of 692.40 billion SHIB, valued at approximately $19.26 million, from Crypto.com on April 8. This substantial investment reflects a growing confidence in Shiba Inu's potential, despite the coin's recent corrections and sideways price action.
The timing of this acquisition is particularly striking, occurring amidst a phase of price retracement and consolidation for SHIB. Following a period of impressive gains, Shiba Inu's price exhibited a downward adjustment, with the trend stabilizing in what appears to be a consolidation phase. However, the whale's bold move has injected a fresh wave of optimism into the market, with investors and analysts alike speculating on the possibility of a forthcoming SHIB rally.
Market Response and Sentiments
The immediate market response to the whale's purchase has been positive, with Shiba Inu's price witnessing a 1.8% increase within 24 hours of the transaction, trading at $0.00002833. This uptick is largely attributed to the renewed investor interest and speculative optimism triggered by the whale's accumulation.
Further bolstering the bullish outlook are the on-chain metrics and derivatives data for Shiba Inu. A notable rise in SHIB's open interest by 2.06%, coupled with a 34.97% surge in trading volume, underscores the heightened market activity and investor engagement with the meme coin. These metrics indicate a robust uptrend in the market, suggesting a bullish phase for Shiba Inu.
Additionally, recent technical analyses, including a report by CoinGape Media, have identified a bullish continuation pattern known as a "Pennant" in SHIB's daily chart. This formation further supports the anticipation of positive price movements ahead, reinforcing the optimistic sentiments surrounding Shiba Inu's market trajectory.
Conclusion
The strategic acquisition by a Shiba Inu whale, set against the backdrop of SHIB's price fluctuations, has sparked widespread market optimism. With on-chain metrics and technical analyses aligning in favor of a bullish outlook, the stage is set for what many hope will be a significant rally for the meme coin. As the crypto community watches closely, the actions of major investors and market dynamics in the coming days will be crucial in determining SHIB's path forward.
$SHIB
#Shibarium #Shib

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