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Shiba Inu reacts to CoinMarketCap issues

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CoinMarketCap listed three fake Shiba Inu contract addresses on their website in a quite recent update. The SHIB token team took to Twitter to announce that the three contract addresses listed on CoinMarketCap, namely Binance Smart Chain, Solana, and Terra, are all fake and that interaction with these contracts must be avoided if not the user will be at risk of irreversibly losing their funds.

The SHIB token defense team expressed their disappointment in their tweet. Supposedly, the CoinMarketCap team had refused to communicate with the SHIB team concerning the updates on the token page. Allegedly, CoinMarketCap had willingly allowed these malignant troupe to deface the ‘dogecoin killer’ token. The meme coin team explicitly showed displeasure over the lack of professionalism rendered by the crypto asset price tracking website.

Wormhole addresses for Shiba Inu

In response to the squabble, CoinMarketCap interpreted that the contract addresses are indeed wormhole addresses for the SHIB. They explained that these addresses were used to aid cross-chain transactions of wrapped versions of the altcoin.

At the moment, the reason for the listing of the alternative addresses is uncertain, but such delinquency is adversely harmful not only to the altcoin but the entire crypto society.

At the time of writing, the three wormhole addresses were still visible on CoinMarketCap, in the dropdown segment next to the SHIB token’s official ETH contract address.

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Shiba Inu reacts to CoinMarketCap issues 2

Despite the warnings given by the Shiba Inu team, there seems to be an array of transactions on each of these fake contract addresses’ chains. This indicates that quite a few investors have already sent money to these addresses, which is alarming.

In a lighter perspective, Shiba Inu has risen as the most viewed cryptocurrency of the previous year, 2021, according to CoinMarketCap. It has been enumerated by the cryptocurrency price-tracking website that there have been more than 188 million views, for the meme token, over the last 12 months. The more astonishing fact happens to be, Bitcoin (BTC), the world’s largest and most sought-after cryptocurrency had only 145 million views at the same time, which makes it the second most viewed crypto asset.

Shiba Inu remains to be eminently frivolous despite its rising idolization among holders. At the time of writing, Shiba Inu was priced at $0.00003142 with a daily drop of 1.79%.

Shiba Inu snags a spot on two Indian crypto exchanges

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Yet another Indian crypto exchange platform, Giottus, has endorsed the meme coin, Shiba Inu (SHIB). Giottus Cryptocurrency Exchange took to Twitter to announce their launch of SHIB deposits starting at 7 pm IST on 11 January 2022.

Giottus was founded in 2018 by blockchain and cryptocurrency enthusiasts Vikram Subburaj and Arjun Vijay, two IIM Calcutta Alumni. The company drives on its mission to make it possible for anyone to become a cryptocurrency trading expert by providing a reliable and trustworthy platform that is supposedly easy to use. Giottus claims to adhere to the highest compliance and cyber security standards to protect customers and their crypto assets.

Just like all the other Indian crypto exchanges, Giottus also gained a lot of traction in the Indian crypto world when the Reserve Bank of India (RBI) ordered all the financial institutions to not encourage companies and individuals acquainted with cryptocurrencies. Just around that time, Giottus was helping people with crypto assets buy and sell with peer-to-peer (P2P) services. Luckily for all the crypto enthusiasts, in 2020, the Supreme Court lifted the RBI ban on cryptocurrencies.

Shiba Inu enlisted on Koinbazar

Indian cryptocurrency exchange, Koinbazar has enlisted the SHIB token on their platform, as announced on its Twitter handle on 11 January 2022.

Koinbazar is a global cryptocurrency exchange, founded in the year 2017 by Saravanan Pandian. With many Indian cryptocurrency exchanges enlisting the ‘dogecoin-killer’, Shiba Inu seems like the most sought-after meme token.

In recent news, the SHIB token project team had announced Bone as the gas token in Shibarium. Shibarium is a blockchain/layer2 solution that will work on the Ethereum program. Over time, it will function in a similar way to ETH and build its own network for the users to access.

Shiba Inu is currently in the 14th position according to Coin Market Cap. At the time of writing, Shiba Inu (SHIB) was priced at $0.00002872 and had taken a hike of 5.03% over the last 24 hours.

SHIB token announces BONE as gas in Shibarium

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The Shib token network took to Twitter to confirm that BONE will be used as the primitive gas token on the Shibarium blockchain.

Shibarium is a blockchain/layer-2 solution that will work on the Ethereum program. Over time, it will function in a similar way to ETH and build its own network for the users to access. The SHIB creator said,

“The line between an L2 and own blockchain is thin, I mean what is the difference really between Matic L2 and BSC?”

Although SHIB token and LEASH have more benefits in ShibaSwap, they will not be used as the basic duo token for Shibarium. BONE will be used instead. Ryoshi said that BONE will have a fair and 0 start in which he will not have to be concerned about overshadowing whale sacks.

There is not a lot of information regarding Shibarium, but we do know that the main intent will be to reduce transaction fees for the users of the Shib token ecosystem. While speaking on the Shiba Discord, Shytoshi Kusama, the project lead said,

“Shibarium will offer low fees for every service, game or whatever that builds on it.”

Special speaker Queenie took on every query asked about SHIB Token

Shiba Inu’s official Twitter handle and Gokhshtein Media saw nearly 11,000 people present on the ShibAMA space. The guest speaker, Queenie not only answered every question thrown at her but also confirmed that BONE will be used as the native gas token on the upcomming Shibarium blockchain. She said,

“It’s purely just that the gas token you’ll be paying is BONE. So you’re not losing any SHIB along the way. You will still be able to use Leash and Bone and get all your liquidity sorted.”

Nonetheless, she also affirmed that, LEASH will be tied with the NFT segment.

Queenie refused to specify a timeline for the release date of Shibarium, she however said that it will be released as soon as possible. She further said that there will be a big surprise when entering 2022, for the Shib token community. Specifics of the surprise hasn’t been mention though. According to Queenie, BONE wont me minted completely the year 2024 and ShibaSwap 2.0 will keep it balanced.

As her footnote, Queenie expressed gratitutde to everyone present and endorsed in an optimistic attitude. She added,

“I appreciate everybody. All of the support from the community. I was extremely nervous as anyone who’s been speaking to me would know. But I’m I’m really honored to be representing the SHIB community and the team in this space. I’m just really excited for 2022. I can’t express how optimistic and passionate I am about this project. It’s just something else. Something to look forward to.”

At the time of writing, Shiba Inu was priced at 0.000034 and experienced a daily drop by 4.09%.

Bitstamp pushes Shiba Inu [SHIB] listing to 2022

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Bitstamp had earlier mentioned that it will be listing Shiba Inu [SHIB] on its exchange portal. Along with the ‘dogecoin killer’, Bitstamp is also listing DYDX, GALA, and Perpetual Protocol (PERP) cryptocurrencies.

As the wait continued for Bitstamp to list Shiba Inu, the investors of the famous meme coin grew curious. The exchange has been experiencing a lot of technical difficulties while integrating SHIB on their portal, but they seem to be redressing the issue.

Better late than never; A happy Christmas for Shiba Inu community

Bitstamp has reassured its traders that the meme coin will be listed on their portal, but it might take a while. The exchange portal has taken to Twitter to announce that the asset will be enlisted in the coming year, 2022.

Shiba Inu being listed on Bitstamp has a hefty impact as SHIB accomplished this feature in less than two years of its initiation. Bitstamp isn’t just another trading platform in the market, it is the most trusted and user-friendly application that European investors rely on. Bitstamp is the largest exchange in Europe and claims to have 4.4 billion users all over the world.

The fans of this meme coin, who call themselves the ‘SHIBARMY’ have expressed their gratitude with a tweet

“Thank you for the update, #SHIBARMY truly appreciate you support”

Shiba Inu coin was created in the year 2020, anonymously. The altcoin rapidly gained speed and value as a swarm of investors were drawn by the appealing charm of the coin. The new listing has created a rampage of excitement amongst the Shiba Inu community and has created hope for many more first-time investors.

Many other exchanges are looking to list this meme coin as it gains more value by the minute. At the time of writing, Shiba Inu was priced at $0.0000338 and had taken a plunge by 0.42% in the last 24 hours.

Ethereum whales amass 50 billion Shiba Inu worth $1.8 million

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Shiba Inu aka SHIB continued to attract tremendous network activity despite the price tumbling to 13% in the past four days. According to data provided by Whalestats that monitor activity for the 1000 biggest Ethereum [ETH] wallets addresses, an ETH large-cap investor purchased 50 billion SHIB tokens, nearly $1.8 million worth of the popular meme coin amid sharp price correction during the panic sell-offs in the crypto market.

That being said, the total holdings in the Jiraiya portfolio now account for about 1.6 trillion SHIB coins, valued at a whopping $59.6 million. The latest news comes after another large-volume investor scooped up close to a massive 100 billion tokens worth around $3.5 million, on the Binance Smart Chain, last Tuesday.

As a matter of fact, the asset enjoys massive support from high-worth investors. According to data on CoinMarketCap, its biggest whale holds over 410 trillion of the token, which is 41% of its total supply. In addition to that, recent moves by SHIB whales have impacted the price of the cryptocurrency to swing up and down because of their huge influence.

Earlier in November, the meme coin plummeted to a low of 21% after a big holder moved $2.3 billion worth out of the wallets, which triggered a panic reaction across the crypto market. A month earlier, Shiba Inu’s price climbed by 22% to hit a new peak, after another whale bought 276.6 billion coins, worth nearly $11.5 million. At press time, the asset is trading at $0.00003389 and has fallen by 3.87% in the past 24 hours.

Shiba Inu comes to Bitpay

After its listing across several exchanges another US-based digital firm, BitPay announced that its platform has accepted payments in Shiba Inu (SHIB), while consumers have the option to choose to either buy, store, or swap the digital currency in its inbuilt wallet app. Speaking on the same, Stephen Pair, CEO at BitPay noted,

“The Shiba Inu community is passionate about its coin and serious about giving those consumers places to spend SHIB. BitPay believes that more community involvement from coin holders supports awareness and adoption helping to move the blockchain industry to pave the way for blockchain payments to disrupt the way consumers and businesses receive and spend funds.”

Shiba Inu [SHIB] whales accumulation spikes by 42% in 24 hours

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Shiba Inu [SHIB] whales went on a massive accumulation spree in the backdrop of its price surge. According to data on WhaleStats, the top 1k Ethereum wallets at the time of writing hold 42% more SHIB tokens in the last 24 hours. The latest development caused the Shiba Inu to soar by more than 35% in the day trade as the large-volume investors reaped the benefits. Typically these holders have a minimum balance of SHIB by least 2.5 billion tokens. If that’s the bare minimum, then one can imagine the sheer volume in the portfolio of the majority of whales.

Since the end week of July this year, whale movements in the Shiba Inu have shot up and from the month of this November, these large-scale holders have made good use of the recent dips and added loads of tokens to their portfolio.

As a matter of fact, on November 23, a Shiba Inu whale bought a whopping 850 billion coins worth $36 million during the dip. The recent purchase was preceded by a first-time SHIB investor who purchased up to 170 billion SHIB coins valued at $8 million during the dip on 17th this month.

Shiba Inu’s much awaited listing on Kraken Exchange

Previously Tronweekly had reported on the much anticipated Newegg listing of Shiba Inu to its catalog of the accepted modes of payment. After gaining entry across major exchanges, Kraken finally fulfilled its ‘overdue promise’ to allow the listing of the asset in its platform. According to the press release on Monday, the trading platform announced that asset deposits are open to users and trading is expected to start on Tuesday.

“Funding is live, and we anticipate trading will begin tomorrow, November 30 — at which point Kraken will enable order entry and execution.”

At the same time, the exchange also clarified that the futures and margin trading service will not be available for the time being and will be traded only against USD and EUR at the moment.

At press time, SHIB is trading at $0.000051 USD with a 24-hour trading volume of $8.66 billion. The asset rose by 30.88% in the last 24 hours. The 11th rank asset has a market cap of $28.03 billion as per Coinmarketcap.

Can Shiba Inu [SHIB] make it to the Top 10 ?

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The global crypto market continued to reel under pressure as most of the assets were trading in red, with some even dropping to monthly lows. Shiba Inu [SHIB], too followed the broader market meltdown as it went on a downward spiral ever since hitting an all-time high of $0.000088 a month back. The canine token slipped by more than 52% from its record high to its current level.

At press time, the asset is changing hands at $0.00003818 with a 24-hour trading volume of $2,09 billion. Its market cap was found to be at $21.15 billion. Shiba Inu was down by 1.97% in the last 24 hours and decline by 16.51% over the course of 7 days.

What do Shiba Inu [SHIB] price technicals depict?

SHIBUSD 2021 11 28 15 13 28
Can Shiba Inu [SHIB] make it to the Top 10 ? 5

In the above 4-hour chart, the Relative Strength Index [RSI] indicator hovering below the half-line signaling sellers are dominating the asset market. With regards to the Chaikin Money Flow [CMF] cruising below the zero line is projecting an increase in capital outflow in the market. The closing red candles of the Awesome Oscillator [AO] too reiterated the bearish narrative.

SHIBUSD 2021 11 28 15 17 28
Can Shiba Inu [SHIB] make it to the Top 10 ? 6

As gauged from the above short-term chart, the price has been going downhill after undergoing a DEATH CROSS by the 50 MA [Pink] with the 200 MA [Green] on 19th November, followed by another bearish crossover a few days later by the 200 MA and the 100 MA [Yellow] further signaling a downtrend.

The asset continued garnering tremendous traction despite the bearish price outlook. Previously Tronweekly had reported on its highly anticipated payment support in the retail firm Newegg. The latest listing follows after the meme coin gained entry across major crypto exchanges like Binance, Bitfinix, and Coinbase except for Kraken. Apart from that, the asset can also be in a huge turnaround in terms of its Metaverse development as evident from reports of Shiba Inu forging partnerships with William Volk, former VP at Activision Studios, to create a Shiba Inu game.

It’s Official: Shiba Inu [SHIB] scores Newegg support

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After several rounds of speculations, Shiba Inu [SHIB] finally gains acceptance in the electronics and hardware retailer Newegg. Confirming the news in the tweet, the firm stated that it will soon support the second-biggest dog-inspired cryptocurrency. The latest announcement follows after a series of cryptic tweets posted by the official Twitter account of the Shiba Inu and project lead Shytoshi Kusama, signing off with the #friendshib hashtag. 

As a matter of fact, rumors started to fly in after the retail giant tagged two prominent Shiba Inu Twitter accounts last Saturday and asked for a DM teasing that it has a question for them.

Interestingly, the retail entity introduced Bitcoin [BTC] to its customers back in 2014 and added Dogecoin [DOGE] a week ago. Apart from that, Newegg reportedly added a total of 11 cryptocurrencies. As of now It’s not clearly specified as to when Shiba Inu will feature on its list of accepted payment options.

Slew of Shiba Inu [SHIB] listing

The asset scored yet another listing from Singaporean cryptocurrency exchange Phemex, led by former Morgan Stanley execs. According to the official press release, the platform added support for spot trading. Besides Shiba Inu, it had also added support for dYdX [DYDX] and Fantom [FTM]. Earlier this week, Shiba Inu was also listed by Coinhako, another Singaporean exchange.

Despite the canine token bagging listings in some of the major global crypto exchanges such as Binance, Bitfinix, and Coinbase, Kraken is yet to make a much-anticipated announcement. The San Francisco-based crypto exchange’s product lead, Brian Hoffman had teased about a potential SHIB listing on their platform if his original tweet gets 2,000 likes. Even as it garnered significant traction well over its specified target, Kraken did not go ahead with its initial promise which irked the SHIB army on the micro-blogging website.

As for its price, SHIB’s recent slew of exchange supports has failed to make any notable impact. The asset was still down by more than 54% from its ATH of $0.000086 established in the last week of October to the press time price of $0.000039. In tandem with the broader market meltdown, SHIB recorded a decline of 20.19% over the past week.

SHIB token continues to fall as altcoins turn bullish

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Shiba Inu’s (SHIB) price action turned bearish as the entire crypto market acquired a different sentiment. With top gainers like Solana, Polygon, and Terra, the meme coins seem to be fading away. The dog coin that rose by more than 830% in the month of October, is currently trading below the support at $0.00006654.

The nearest price resistance is present at $0.00007812, and once the market resumes its uptrend, we might witness a retest of this price level. While the Shiba Inu token flipped Dogecoin a few days back and gained the 9th position in the market, DOGE has regained its supremacy over Shiba Inu, reclaiming the spot.

The recent price action of the coin has been extremely bullish, following an all-time high at $0.00008845 on Oct 28, 2021. According to the data from CoinmarketCap, the 24-hour trading volume of the token is at $5.2 billion, while the market cap rests at $37.7 billion.

SHIB token price analysis on the daily chart using technical indicators

According to our Shiba Inu price analysis on the daily chart by tradingview, the token’s long-term movement is bullish, rising from a low price of $0.00000516 to a high price of $0.00008845 in 52 weeks.

The price action remains above the 50-day and 100-day Moving Averages, indicating that the trend is bullish. Furthermore, the price action broke out from the upper end of the Bollinger Bands and is currently cooling off near the upper edge of the Bands.

SHIB token price analysis
Shiba Inu token price analysis on the daily chart by TradingView

The RSI levels are progressing with a negative gradient, hinting at bearish price action in the short term. However, the buying pressure still wins over the selling pressure.

On the other hand, the MACD indicator shows that the MACD line (blue) is moving towards the signal line (orange) although, the histogram is currently green. If the orange like breaks above, we will see lower prices in the near future.

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Shiba Inu token price analysis on the daily chart by TradingView

Final Verdict

Today’s Shiba Inu price analysis can be concluded on a bearish note as the token is below an important support level. However, if the bulls take over, the prices might reclaim this support, moving upwards to breach the all-time high.

Shiba Inu [SHIB] to soon be listed on Kraken; Another price rally in the making?

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Shiba Inu [SHIB] has been the talk of the crypto town ever since it made a debut. The asset proved that it wasn’t just all talk as it managed to amass significant investors across the globe. Despite thriving as a meme coin, Shiba Inu secured a spot on an array of prominent crypto exchanges like Binance, Coinbase and now another popular US exchange announced that it would onboard the asset.

Most of the crypto community is active on the social media platform, Twitter. Therefore, various firms have been seeking approval from the community before inducing certain assets into their system. American cinema operator, AMC’s CEO, Adam Aron went on to set up a poll asking the public about the inclusion of Dogecoin [DOGE] as well as Shiba Inu [SHIB].

Making use of social media the right way, crypto exchange, Kraken shared a tweet regarding the listing of Shiba Inu.

Shiba Inu [SHIB] to be listed on Kraken today

Crypto exchange, Kraken took to Twitter and shared a tweet putting the “SHIB Army” to work. In the tweet, Kraken revealed that the exchange’s product lead, Brian Hoffman affirmed that Shiba Inu would be a part of the platform if the following tweet got about 2,000 likes.

The tweet read,

Shiba Inu
Shiba Inu [SHIB] to soon be listed on Kraken; Another price rally in the making? 10

In less than 24-hour of the tweet being posted, it managed to garner a whopping 56K likes with 14K retweets and about 991 quote tweets, at press time. The SHIB army has been coming in stronger than the following of other coins. The latest tweet is proof enough of the same.

Kraken happens to be the latest to jump in on the Shiba Inu train. Kraken’s rival Coinbase listed the coin several weeks ago and even caused a pump. Coinbase even added the coin’s ticker symbol SHIB in its description.

The tales surrounding SHIB are numerous. While the altcoin continues to flourish several suspect a rally on the way following the news of its latest listing.

However, during the time of writing, Shiba Inu was riding the bearish wave. The asset was trading for $0.00007064 with a 2.73% drop over the last 24-hours. While most of the assets were bagging gains, SHIB was moving in the other direction. Nevertheless, the community was seen vouching for a rally.