TronWeekly

Crypto World News

You are here: Home / Archives for Shiba Inu Coin

Shiba Inu Coin

Elon Musk no more ‘The Dogefather,’ confesses to owning zero SHIB tokens

by

Elon Musk has been known for causing a lot of ups and downs in the crypto market. His recent comment caught the attention of a lot of Shiba Inu token holders. While Elon has been a long-time friend of meme tokens and coins, he let down a lot of his supports through this one tweet.

In a recent tweet by a Shiba Inu support page, the admin asked Elon Musk how many SHIB tokens he owns in his wallet. In reply to this tweet, Elon said that he owns zero SHIB tokens.

Following this news, the SHIB token dropped by 20%. The SHIB/USDT pair made its new all-time high recently, making a local high at $0.000044. Since the starting of October, the coin has already risen by about 500%.

Elon Musk is no more the ‘Dogefather’?

Elon Musk is one of the prominent supports of Dogecoin, and he has tweeted a lot of times about SHIB, DOGE, and other meme tokens. However, with this tweet, the Tesla founder attracted a lot of criticism, and of course, the once supporter of meme tokens is being called upon for his ‘brutal remarks.’

The comments to this Tweet have been ranging from hilarious to outbursts. Some claim that the SHIB community doesn’t need Elon Musk, while others believe that what the billionaire said was right. In the tweet below, @rpcorrear expressed his anger at Elon’s tweet.

On the other hand, @Underrated_Dom said, “Please stop letting this man influence your financial decision. Think and do your own research.”

Elon Musk revealed his cryptocurrency portfolio at the B-Word Conference that ARC Investment held. He stated that he personally owns Dogecoin, Ethereum, and Bitcoin, while his companies also own Bitcoin.

After causing a lot of prices surges in Dogecoin and Shiba Inu by uploading pictures on the dog on his Twitter, it seems that the Tesla CEO has disowned the currency.

Shiba Inu [SHIB] heats up despite crowd negativity; What to expect next?

by

Popular meme coin, Shiba Inu [SHIB] has surged by more than 26% in the past 24 hours and is fast approaching to record a new all-time high amidst a lull in the market. As observed by the leading data analytics forum, Santiment, the Dogecoin spin-off has witnessed a tremendous increase in its network activity despite the mostly negative market sentiments and a host of false narratives surrounding the Shiba Inu ecosystem.

In its analysis, the on-chain data provider shed light on the price structure of the asset and tweeted,

Shiba Inu is +26% in the past 24 hours while the rest of the crypto markets are mostly flat. The young, rising asset continues pumping eerily in tandem with moments of crowd negativity and doubtful commentary.

1
2

Adding to that, Santiment also noted that SHIB was among the 100 best-performing cryptocurrency assets that have managed to accumulate more than 20% gains in the last 24 hours along with the “highest increased discussion rates.” The above chart clearly depicts the performance of the SHIB token with respect to other top-ranking cryptocurrencies.

Let us look into the technicals indicators.

Shiba Inu 4-hour price analysis

shib

Parabolic SAR:- The dotted markers of Parabolic SAR cruising below the SHIB price candles indicated an optimistic price action and cushioning from a potential decline.

Chaikin Money Flow [CMF]:- The CMF indicator is seen to be rising rapidly above the zero line and depicted a significant increase in capital inflow in the market. This evidenced a bullish picture of SHIB’s growth trajectory.

Relative Strength Index [RSI]:- The RSI also spiked in response to the recent rally in the market. It was found to be trading above the 70-mark is in overbought territory and displayed the dominance of the buyers in the market.

shib2

MACD:- The MACD indicator is favoring the bulls as gauged from the above price chart.

Klinger Oscillator:- The Klinger Oscillator [KO] is also steadily rising above bullish territory.

Awesome Oscillator:- The Awesome Oscillator [AO] is depicting similar bullish tendencies in the coin market.

Shiba Inu’s meteoric rise

SHIB witnessed a major push on the 18th of October when its price climbed over 13% in less than 24-hours. For the next week, the asset treaded cautiously and was found to be consolidating within a tight range. Another notable spike occurred on the 23rd of the same month which fetched its ATH.

Owing to the massive popularity and demand of the crypto-asset, Public.com, which happens to be a social investing app has announced listing SHIB for its members with crypto access. Novadax’s fiat-crypto market also announced support for the asset last week granting access to the Brazillian crypto investors. These crucial developments may have further boosted the ongoing rally.

Shiba Inu still out of Robinhood’s interest? CEO Tenev remains mum

by

Shiba Inu [SHIB] emerged as the rival of Dogecoin [DOGE]. This asset garnered immense attention from the globe with its price fluctuation and swift surge onto the top 20. With this, Shiba Inu managed to amass a spot on an array of prominent crypto exchanges. However, one trading platform didn’t show any interest in listing the altcoin.

Robinhood made a lot of news over the last couple of years and this wasn’t for all the good reasons. While the platform got back into form, the CEO of Robinhood, Vladimir Tenev spoke all things crypto during a recent interview with CNBC. However, the one thing he decided to leave out or rather ignore was a question about Shiba Inu’s listing.

Completely steering away from the question about listing the meme coin, Tenev took a rather long pause. The CEO dodged the question and did not decline or affirm the listing of Shiba Inu now or in the near future.

Furthermore, Tenev noted that the firm intends to focus on safety and has already been upholding the same. At present, Robinhood has a total of seven assets and intends to keep it at this as safety comes first for the platform. He added,

“I think it goes back to safety first. We are not generally going to be the first to add any new asset. We wanna make sure that it goes through a stringent set of criteria.”

The demand for Shiba Inu seemed to be taking off. A petition was filed on Change.org urging Robhinhood to list the altcoin. The petition managed to garner a whopping 286,000 signatures. However, this seemed to make no big difference as Tenev decided to stay mum about it.

Shiba Inu [SHIB] price movement

After surging by over 10.81% throughout the week, SHIB was seen riding the bullish wave over the last couple of hours. At the time of writing, SHIB was trading for $0.00002771 with a 2.94% drop over the last 24-hours.

The market cap of the altcoin also endured fluctuations over the past couple of days. Currently, the meme coin was in the 20th position with its market cap at $10.8 billion.

Shiba Inu [SHIB] succumbs by 10% following a brutal bear attack

by

Despite being fairly new to the market, Shiba Inu [SHIB] had the attention of the entire crypto community. From being touted as a rival of the famous meme coin, Dogecoin [DOGE], Shiba Inu quite swiftly climbed the crypto-ladder. In no time, the altcoin had all eyes on it. Its latest price surge was another spectacular that was lauded by many.

Shiba Inu, however, failed to sustain its bullish notion. Despite garnering profits of about 29% over the previous few days, SHIB was drowning in the red sea. At the time of writing, SHIB was trading for $0.00002822 with a 10% drop over the last 24-hours. The altcoin’s hot streak was assuredly infringed by the bears.

SHIB wasn’t the only asset that was heckled by the bear, an array of other coins like Bitcoin [BTC], Dogecoin [DOGE], Terra [LUNA], and a few others were seen riding the bearish wave. Yet, none of these assets endured as big of a fall as Shiba Inu.

Moving on to its market cap, SHIB slid down the crypto ladder. The altcoin was evidently making its way onto the top 10, however, this was was disrupted and the coin stands as the 18th largest cryptocurrency. During press time, SHIB’s market cap was at $11.14 billion.

Shiba Inu [SHIB] one-hour price chart on FTX

Shiba Inu
Shiba Inu [SHIB] succumbs by 10% following a brutal bear attack 6

The one-hour price chart of SHIB noted major bearish signs. The Bollinger Bands indicator that keeps a check on the volatility rate in the market, revealed that SHIB wasn’t going to endure any major price fluctuations as the bands were close to each other. The MACD line fell below the signal earlier today, forming a bearish crossover.

The Relative Strength Index [RSI] indicator noted that Shiba Inu was being heavily sold than bought. The RSI marker was below the 50 median, however, not too deep towards the oversold zone. Therefore, the chances of recovery were still bright in the Shib market.

Shiba Inu [SHIBA] Pushes Its Price Boundaries As Token Continues Green Charge

by

After a week of multiple positive gains, the cryptocurrency market hit a price flux forcing investors to watch the trail. The altcoin ecosystem was inspired by Bitcoin’s run-up above the $50k mark with capital coming into the market. The meme-inspired Shiba Inu [SHIB] pushed new boundaries for itself as it climbed on both the daily and weekly timeframes.

At the time of writing, SHIB was trading for $0.000029 with a total market cap of $11.75 billion. The increased capital pump elevated the cryptocurrency into the top 20 cryptocurrency clubs. As more users bought into the world of Shiba Inu, the daily trading volume also shot up to $4.6 billion. As active players shilled the cryptocurrency, it became a major talking point on social media.

Shiba Inu 1 hour:

shib 1 hr
Shiba Inu [SHIBA] Pushes Its Price Boundaries As Token Continues Green Charge 9

After a successful week that propelled Shiba on the charts, the indicators all leaned towards the bull. Shiba’s immediate support rose to $0.000026 while new users constantly pushed for higher prices.

Relative Strength Index: Shiba’s RSI stayed near the overbought zone, a sign of the active ecosystem. The indicator showed that the number of users HODLing SHIB was more than the ones selling it.

Chaikin Money Flow: Staying bullish as well, the CMF rose strongly against the zero line. Since the bullish sentiment is strong, the graph is expected to rise some more towards the upper boundaries.

Parabolic SAR: All the markers for the past 48 hours stayed below the price candles, showing strong bullish momentum. Shiba Inu holders would want the consecutive green candle formation to go on for extended timeframes.

Shiba Inu 1 day:

shib 1 d
Shiba Inu [SHIBA] Pushes Its Price Boundaries As Token Continues Green Charge 10

Shiba’s long-term performance was just growing, helped along by strong October tides. Long-term support increased to $0.0000069 after the cryptocurrency’s most active month since inception.

Chaikin Money Flow: In the long run, Shiba moved parallel to the zero line. A deeper dive further pointed to the increasing interest from the larger cryptocurrency ecosystem.

Parabolic SAR: The markers from the last month have all stayed below the price candles as the momentum became bullish.

Relative Strength Index: The RSI in the long term showed similar characteristics to that of the CMF. This further meant that the buying pressure was a strong contributor to higher prices.

Shiba Inu’s [SHIB] price on a tear, but do investors need to worry?

by

After a stellar debut in September this year, Shiba Inu’s [SHIB] price fell into a lull as it followed the wider cryptocurrency market. Popularly known as the Dogecoin-killer, SHIB’s initial success can be attributed to the former’s craze after many market players FOMOed on Elon Musk’s tweets regarding the meme-coin.

Shiba Inu [SHIB] quickly surpassed several top tokens including Avalanche [AVAX] to position itself as the 12th-largest cryptocurrency by market cap on the 7th of September. However, this remained brief as it dropped two ranks below. Overall, it has amassed weekly gains of more than 370%.

Over the past 24-hours, Shiba Inu [SHIB] posted a staggering rally of 46.14% which pushed its price to $0.000033. The crypto-asset stood at a $13.02 billion market cap while recording a 24-hour trading volume of $18.5 billion, at the time of writing.

Shiba Inu [SHIB] Hourly Price Chart:

SHIBUSD 2021 10 07 17 25 55
Shiba Inu's [SHIB] price on a tear, but do investors need to worry? 13

The volatility in the SHIB’s market is increasing so is the trading volume which has cushioned the ongoing uptrend in the market. Further validating the bullish trajectory on the hourly chart were the upsloping moving averages, 50 [Pink], 100 [Blue], and 200 [Yellow] were at an ideal position while hovering below the SHIB price candles.

SHIBUSD 2021 10 07 17 29 28
Shiba Inu's [SHIB] price on a tear, but do investors need to worry? 14

The technicals were decently optimistic. The re-formation of bullish crossover by MACD depicted a resurgence in buying demand after a momentary lapse. The green closing bars also appeared on Awesome Oscillator [AO] as the market’s momentum switched to bullish. The Relative Strength Index [RSI], however, showed a bearish divergence in the short-term chart which could signal a profit-taking phase.

The overall market trend indicated a bullish phase. But the divergence formation may bring in sellers. Hence, Shiba Inu [SHIB] may retrace its steps to $0.000023, $0.000017, and $0.000012 respectively. Also, SHIB remained a highly volatile asset and its price movement is often speculated to be a pump and dump asset.

Ethereum’s Vitalik Buterin Burns $6.7B Worth Shiba Inu Coin [SHIB]

by

Shiba Inu coin [SHIB] is not the only Dogecoin knock-off to have been riding on the latter’s immense popularity. But its rise to prominence can be attributed Ethereum co-founder and crypto billionaire Vitalik Buterin’s association with it.

Vitalik Buterin Burns 41% of Shiba Inu Coins

Buterin has reportedly destroyed $6.7 billion worth of the Shiba Inu coin [SHIB]. Coin burn is a process by which digital currency miners and developers burn or permanently remove tokens from circulation, thereby reducing the total supply and hence slowing down inflation rates. Hence, this move does look promising for investors of the latest canine-featured meme coin. So far, its price has positively reciprocated and registered an uptick from $0.000013 to $0.000016 on the 17th of May.

In a note attached to the transaction, Buterin revealed that he was impressed by how the dog token communities have treated the recent round of donations made for COVID-related relief funds.

He had also stated,

“I’ve decided to burn 90% of the remaining Shiba tokens in my wallet. The remaining 10% will be sent to a (not yet decided) charity with similar values to crypto relief (preventing large-scale loss of life) but with a more long-term orientation,” wrote Buterin in the transaction hash”

Dog-themed Bull Part Halts

The latest move comes a week after the Ethereum exec donated 50 trillion SHIB to India Covid Relief Fund, alongside other cryptocurrencies. However after Buterin made the donation for covid relief, the value of Shiba Inu coins took a massive plunge by more than 40%. The Shiba Inu coin Founder, Ryoshi had a tacit understanding with Buterin to never sell these coins, which helped the coin to carry on artificial scarcity.

The bull run that was started by Elon Musk’s gimmicks came to an abrupt end right after Buterin went on to liquidate trillions of the tokens he was gifted.

At the time of writing. SHIB’s market cap was found at $6.49 billion, while its trading volume over the past 24-hours rose to $4.23 billion.

After Dogecoin; Another Spin-off Gains Traction After Binance Listing

by

Not Dogecoin, it’s Shiba-Inu Coin.

Who decides what’s legitimate and what is not in the cryptocurrency industry? It is the decentralized community that chooses a new success story before the FOMO catches up. Nobody expected meme-token called Dogecoin to gain legitimacy so much so that one of the world’s richest men, Elon Musk would engage in DOGE-related frenzied social-media commentary. Other celebrity endorsements include Dallas Mavericks owner Mark Cuban and rapper Snoop Dogg.

There is yet another meme token in town. The Shiba-Inu Coin [SHIB]. And, no, it is not Dogecoin [DOGE]. But the latter’s logo features a Shiba Inu puppy at the center of the meme.

Shiba-Inu coin, on the other hand, is another experiment that has captured the headlines over the past few days.

Dogecoin Killer Already?

SHIBA
After Dogecoin; Another Spin-off Gains Traction After Binance Listing 16

SHIB is an ERC-20 only token that declared its nickname to be “Dogecoin Killer” on its “woof paper” [whitepaper]. According to the document, SHIB’s 50% of the total supply is locked in Uniswap while the remaining 50% was burned to Ethereum Founder Vitalik Buterin. It further stated,

“We locked the 50% of the total supply to Uniswap and threw away the keys! The remaining 50% was burned to Vitalik Buterin and we were the first project following this path, so everyone has to buy on the open market, ensuring a fair and complete distribution where devs don’t own team tokens they can dump on the community.”

It would be safe to say that it’s a DOGE clone and are among several imitators that have jumped into the wave to ride on the tailwind of the Tesla Chief-championed coin.

This knock-off of DOGE who which was first trading on decentralized exchange Uniswap has expanded its footprint across Binance on the 10th of May. But the expansion does not stop here, SHIB has also now garnered fresh listings on the two other well-known cryptocurrency exchanges among – Huobi and OKEx.

Over the past couple of days, SHIB has attracted astonishing investment especially from Chinese players in the market. Its price rose to an ATH above $0.000003 on the 8th of May and subsequently surged by more than 1033% in a period of just three days. In contrast, Dogecoin’s price has taken a massive plunge Musk’s appearance on ‘Saturday Night Live’.