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Shiba Inu (SHIB)

Crypto Coins on the Radar for October 2023

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As we approach October, the cryptocurrency community is eagerly anticipating this historically favorable month. In 2021, the crypto market embarked on a ‘double peak’ rally during October, and by November, numerous assets had achieved record highs. Recently, market sentiment has been on the rise, and analysts anticipate a shift in favor of the bulls. Therefore, in this piece, we will assess the leading cryptocurrency assets that warrant attention in October 2023.

October’s Crypto Standouts: Two Tokens to Monitor

Bitcoin

Since 2013, Bitcoin has registered negative returns for investors in only two Octobers, specifically in 2018 and 2014. Aside from these isolated occurrences, investors have typically enjoyed profits during this month. Presently, there are three critical indicators suggesting that Bitcoin may have emerged from its bearish trend. The Reserve Risk for Bitcoin is presently at historically low levels. To provide some context, when market prices are low and the reserve risk is low, it indicates a high level of confidence among holders.

Crypto

Historically, when this metric has lingered around the green band, the price has eventually rebounded. Moreover, the MVRV ratio for Bitcoin currently indicates that the market valuation of the asset is significantly lower than its realized value. It has consistently remained within levels that have historically acted as accumulation zones.

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Additionally, it’s noteworthy that the number of dormant BTCs (Bitcoins) held for at least one year has reached an all-time high (ATH). To decipher the implications, a recent Messari thread on X (formerly Twitter) highlighted,

“This trend suggests that a large percentage of the Bitcoin supply is held by long-term holders who hold the conviction that Bitcoin’s price will eventually rebound.”

Considering that the potential bottom has probably already occurred, it’s reasonable to anticipate increased activity in Bitcoin over the next month. Ethereum is presently closely correlated with BTC, boasting a strong 0.9 correlation. Consequently, both of these leading digital assets could jointly revitalize a bullish outlook as we enter the fourth quarter of 2023.

Shiba Inu & Co.

In addition to monitoring the most prominent cryptocurrency assets, investors and traders may also consider keeping an eye on meme coins such as Pepe Coin and Shiba Inu. Pepe Coin, which made its debut in the second quarter of this year, currently lacks historical patterns to follow in the fourth quarter. Lookonchain data indicates that numerous smart wallet addresses have initiated transactions involving Pepe Coin. Notably, an investor who previously realized a 38,860x gain on Pepe recently reinvested $645,000 in this asset. Another tweet from the same on-chain data tracking platform also disclosed,

“2 fresh wallets created 3 hrs ago spent a total of $801K to buy 1.08T PEPE.“

Experienced and astute investors typically boast a track record of success. Therefore, their recent surge in accumulating Pepe Coins could serve as an early indicator of how Pepe Coins might perform in October. Meanwhile, members of the Shiba Inu community have been eagerly anticipating October as well. In 2021, SHIB reached its all-time high during this month, resulting in an impressive 830.14% overall increase in value. In contrast, September and November of 2022 were marked by a bearish trend. However, SHIB showed a positive performance in October, with a 10% rally.

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Recently, SHIB has been accumulating liquidity at around the $0.000007 level. Given these dynamics, the token might follow the historical October trend in 2023 and potentially experience a recovery, provided the market conditions are favorable.

Shiba Inu’s 950% Price Surge Prediction: Timing and Analysis

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The crypto winter phase spanning 2022 to 2023 is still ongoing without a definitive conclusion. Assets like Shiba Inu have experienced multiple minor rebounds, but they have struggled to transform these recoveries into substantial rallies. The primary factors contributing to this price stagnation have been low trading volumes and inadequate liquidity.

However, in the past 24 hours, the cryptocurrency market has observed an influx of buyers. During this period, SHIB managed to appreciate by 2% and advance by one rank in terms of market capitalization. Nevertheless, this article will shift its focus towards the long-term perspective of SHIB rather than its short-term prospects.

Forecasting Shiba Inu’s Value in 2030

Investors can anticipate an improvement in Shiba Inu’s long-term prospects over time. Concerning its price, Shiba Inu has the potential to generate returns of up to 10 times the current value for investors within a few years. According to the cryptocurrency price-tracking platform DigitalCoinPrice, recent technical indicators for SHIB have indicated a “neutral” market sentiment, making it an unfavorable time to sell the asset. However, when taking a broader perspective, a different story emerges.

Shiba Inu

According to their analysis, SHIB is projected to remove a zero from its current value and reach $0.0000191 by 2024. Over the subsequent three years, DigitalCoinPrice estimates SHIB’s value to increase from $0.0000266 to $0.0000338. In 2028 and 2029, the asset is expected to achieve values of $0.0000401 and $0.00000554, respectively. The bullish trend is anticipated to continue, with SHIB potentially reaching a price of $0.0000775 by 2030. This would represent an impressive 946.59% increase from its current price of $0.000007405.

However, it’s crucial to note that there are no guarantees that SHIB will reach the mentioned target by 2030. The cryptocurrency market is highly volatile, and prices can fluctuate in either direction. As always, it is advisable to conduct thorough research before investing funds in SHIB or any other asset.

Shiba Inu Price Analysis: October’s Growth Potential

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The Shiba Inu (SHIB) ecosystem has experienced increasing adoption, but its price has remained relatively stable. With September characterized by minimal volatility, there are expectations that October could bring about more turbulent market conditions. As of the present moment, SHIB is trading at $0.000007254, showing a daily decline of 0.11%. Additionally, the asset’s market capitalization has dropped to $4.27 billion. Consequently, this shift in market dynamics has allowed other assets like Chainlink (LINK) to surpass SHIB in terms of their rankings.

It’s evident that the introduction of Shibarium did not have a positive impact on this meme coin. Currently, about 89% of SHIB holders find themselves in a position where they are experiencing losses, with only 9% of SHIB holders seeing gains at the current asset price. Nevertheless, the question remains: Can October bring favorable conditions for SHIB, and is there potential for the token’s price to rise from its current position? In this article, we will delve into the possible trading range for Shiba Inu in October 2023.

Shiba Inu’s October Odyssey: What Lies Ahead?

Changelly, a well-known price prediction company, has forecasted that Shiba Inu may not undergo a significant surge in value in the current month. Instead, it is expected to experience notable fluctuations, with a projected trading price of approximately $0.000007427. This reflects a modest increase of 2.65% when compared to its current value.

However, the second week of October could present substantial challenges for the meme coin. During this period, it is estimated to encounter a considerable decline of approximately 12.14% from its current value. On October 9, SHIB may potentially be traded as low as $0.000006357. Nevertheless, as the month approaches its end, there are anticipations that the meme coin will recover, reaching a peak of approximately 11.2%. As a result, SHIB is predicted to conclude the month with a value of $0.000008045.

Cryptocurrency analysts are poised to unveil their October 2023 SHIB price predictions. They suggest that the lowest trading price could dip to $0.00000636, while the highest might soar to $0.00000824 within the same month. On average, Shiba Inu’s value is anticipated to hover around $0.00000730. This implies a potential return on investment (ROI) of 13.5%.

Shiba Inu’s BONE Token Edges Towards $1 in its Pursuit of Full Decentralization

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The Shiba Inu [SHIB] ecosystem has garnered significant attention with the introduction of Shibarium. While Shibarium’s progress has been steady, the utility token Bone, which is utilized for covering gas fees within the Shibarium network, has seen notable growth. This offspring of the Shiba Inu network has had a somewhat turbulent year.

Shiba Inu

However, it has recently been making progress towards reaching the $1 milestone. In contrast to Shiba Inu, Bone has often been in the $1 price range, but recent days have presented challenges for this meme coin. After a notable 11.47% surge, the price of Bone fluctuated between a low of $0.8113 and a high of $0.9249. As of the latest update, Bone is currently trading at $0.9044, reflecting a daily increase of 6.86%.

But what has triggered this sudden uptick in BONE’s value? Could it be linked to Shibarium? BONE serves a critical role within the Shibarium network. Furthermore, the team behind this meme coin has recently revealed that they are nearing the final stages of minting the remaining BONE supply, likely contributing to the increase in the asset’s price. Nevertheless, there is another factor driving this upward trend.

BONE Attains Full Decentralization Status

The Shiba Inu development team has been consistently delivering timely network updates. In a recent development, they shared what they described as “exciting news” and announced that Bone has undergone a renunciation. This means that the controlling entity of BONE’s contract has voluntarily surrendered its control. As a result, BONE is now fully decentralized and immune to any potential future modifications or manipulations.

Shiba Inu

This accomplishment aligns with the decision made by the Shiba Inu community the previous year, which was to halt the creation of additional BONE tokens once the circulating supply reached 230 million. The remaining 20 million BONE tokens from the total maximum supply of 250 million were allocated for Shibarium validators, who play a crucial role in securing the L2 blockchain.

Shiba Inu’s Address Triumph: 3.6M Strong & Growing

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Shiba Inu has buzzed the community with a pivotal milestone. Demonstrating its unwavering popularity in the face of recent price fluctuations, SHIB’s address count reached an unprecedented surge of over 3.6 million. The latest stats sourced from IntoTheBlock not only highlight the meme token’s ability to maintain its user base but also showcase a surge in the number of addresses holding a balance.

At present, a whopping 1.25 million addresses boast a Shiba Inu balance, underscoring the enduring allure of this cryptocurrency. The uptick in the number of Shiba Inu addresses goes beyond being merely a statistic; in fact, this is a crucial indicator of gauging the cryptocurrency’s performance. In the short term, the total number of addresses with a balance serves as a key metric of trader sentiment, often foreshadowing price movements.

Over the long haul, this indicator reflects the sustained interest in holding a specific cryptocurrency. A surge in addresses with a balance is universally regarded as a positive sign, indicative of a robust and expanding user base. Lately, crypto enthusiasts have received a glimpse of the forthcoming initiatives within the meme token sphere.

Lucie, the marketing expert for Shiba Inu, shared a video teaser featuring the enigmatic leader of the project, Shytoshi Kusama, alongside another undisclosed developer. This cryptic duo assumed the spotlight to unveil intriguing information about an upcoming application designed to elevate the project’s community involvement, foster connections, and stimulate creative cooperation.

Shiba Inu Team Teased “Super App” Shiba Hub

This inventive application, named Shiba Hub, has been hailed by the Shiba Inu team as an “entryway to something remarkable.” Dubbed a “super app” by the unidentified developer, Shiba Hub is poised to inject fresh vitality into the cryptocurrency community while seamlessly integrating with the unique Shibarium ecosystem. It extends an invitation to the community to embark on an innovation-driven journey and encourages them to play pivotal roles in a project poised to make a lasting impact.

This recent revelation coincides with the Shiba Inu layer-2 Shibarium blockchain’s recent integration with the token approval management service known as Revoke.cash. This integration aims to enhance the security of SHIB community members by enabling them to manage token approvals and safeguard their assets against potential fraudulent activities.

Shiba Inu Unleashes It’s Secret Weapon, Shiba Hub

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Lucie, Shiba Inu’s marketing guru shared a video teaser featuring the enigmatic project lead, Shytoshi Kusama, along with another anonymous developer. The mysterious duo took center stage, to unveil exciting details about an upcoming application that aims to enhance the project’s community engagement, foster connectivity, and encourage creative collaboration.

This innovative application, known as Shiba Hub, has been heralded by the Shiba Inu team as a “gateway to something extraordinary.” Described as a “super app” by the anonymous developer, Shiba Hub is poised to breathe new life into the crypto community while seamlessly integrating with the distinctive Shibarium ecosystem. It beckons the community to embark on a journey of innovation and invites them to be pivotal contributors to a project poised to leave a lasting imprint.

While Shiba Hub’s intricate details remain shrouded in secrecy, Lucie reiterated the unique opportunity it offers, positioning users at the forefront of cryptocurrency innovation. This multifaceted application is set to elevate the Shibarium experience, addressing users’ daily needs, and evolving into a dynamic mix for the crypto community.

Meanwhile, Shiba Inu’s Shibarium, a layer-2 scaling network, has been steadily gaining prominence within the decentralized finance [DeFi] landscape. Recent insights from DeFiLlama, the crypto analytics platform, disclosed that Shibarium currently boasts a total value locked [TVL] of approximately $588,000. Though this figure represents a decrease from its zenith of over $1.42 million on August 30, Shibarium’s resurgence has captivated the attention of dedicated Shib enthusiasts.

Shiba Inu’s Shibarium: Eyes $600k TVL Mark

Despite the fluctuations, the Shiba Inu protocol continues to showcase formidable growth potential, poised to surpass the $600,000 milestone and potentially surge to new all-time highs in the near future. The prominent decentralized exchange, MARSWAP, operating on the Shibarium Chain, plays a pivotal role, contributing an impressive 35% to the network’s cumulative TVL.

Remarkably, Shibarium’s ascent isn’t solely attributed to MARSWAP. Other influential protocols such as DogSwap, ChewySwap, Woof Finance, and PunkSwap collectively constitute the top five contributors. These protocols remain steadfast in their mission to fortify their growth trajectories, all with the shared objective of bolstering Shibarium’s TVL over the long term.

Shiba Inu’s Path to $0.0001: Predicted 2 ‘Zeroes’ Removal and a 1,500% Spike

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Shiba Inu is presently being traded at levels around $0.000007 and faces difficulties in removing its fifth decimal place, even with the introduction of Shibarium. This year has not seen a significant uptrend in the token’s value, as the initial excitement surrounding the launch of the layer-2 network quickly faded away. It has been nearly half a year since Shiba Inu last traded with five zeros, which is putting the patience of its investors to the test. SHIB boasts nearly 1.3 million investors, and a substantial portion of them find themselves in a loss position due to the declining price.

Shiba Inu Token Forecast

Telegaon, a prominent on-chain metrics and price forecasting company, has offered an optimistic outlook for Shiba Inu. According to their price projection, Shiba Inu could eliminate two decimal places and reach $0.0001 by mid-2027. The forecast suggests that SHIB will maintain an average price of $0.000153 in 2027, following a peak of $0.000198 during the same year. This translates to a substantial increase and a potential return on investment (ROI) of around 1,500%.

However, the prediction indicates that SHIB might continue trading with three decimal places until the end of the decade. Nevertheless, the price estimate asserts that the dog-themed token is unlikely to reach $0.01 even 17 years from now. Achieving the 1-Cent milestone appears to be a formidable challenge, given the slow pace of the token burn process. The notion of Shiba Inu burning trillions of tokens annually seems more like a myth at the moment. For a more realistic price forecast on when SHIB could eventually reach the $0.01 mark, you can refer to the linked article. As of the latest update, SHIB is trading at $0.000007, marking a 0.2% decline in the past 24 hours.

Shiba Inu

Furthermore, SHIB has experienced a significant drop of nearly 92% from its all-time high of $0.00008616, which it achieved in October 2021. It has been nearly two years since the dog-themed token saw a significant price decrease, and it has struggled to regain its previous peak.

Shiba Inu Forecast: Machine Learning Tool Foresees SHIB Price on October 1

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Shiba Inu (SHIB) undoubtedly emerges as one of the most beloved cryptocurrencies. This relatively new meme coin generated significant excitement in the market and managed to ascend the cryptocurrency rankings. However, its growth was hindered by the prevailing market conditions. Despite the introduction of Shibarium, the coin’s performance didn’t meet expectations. In the past month, the asset witnessed a 10.3% decrease in its value.

Despite the challenging September, the SHIB community remains hopeful for an eventful October. Currently, Shiba Inu is trading at $0.00000732, indicating a minor 0.8% decline in its daily value. Notably, earlier today, the asset saw an increase from its lowest point of $0.00000728 to as high as $0.00000741. Additionally, it’s essential to highlight that this meme coin currently maintains a price level that is 91% below its all-time high of $0.00008616.

Shiba Inu’s Trend Reversal: What to Expect in October

It appears that the meme coin is likely to maintain its current price range in the upcoming month as well. According to data obtained from the PricePredictions machine learning algorithm, SHIB is projected to trade at approximately $0.0000073 as October commences. PricePredictions utilizes a diverse set of indicators to formulate predictions for the meme coin. This forecast relies on algorithms that conduct a comprehensive analysis of indicators such as the average true range (ATR), Bollinger Bands (BB), moving average convergence divergence (MACD), and relative strength index (RSI).

Shiba Inu

As depicted in the chart above, the entire month of October is anticipated to be challenging for SHIB, with a downward trend expected. Currently, only 10% of SHIB holders are experiencing gains, while nearly 88% of Shiba Inu holders are contending with losses. Given the lack of significant upward movements foreseen for this meme coin, it is likely that SHIB holders will continue to experience more losses than gains in the foreseeable future.

Shiba Inu’s Wild Ride: 782M Tokens Torched!

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In the ever-evolving world of cryptocurrencies, Shiba Inu (SHIB) has been making headlines yet again. Over the past week, the SHIB community has taken significant steps to reduce the circulating supply of this popular meme coin. In the past week, the Shiba Inu community has witnessed a remarkable surge in token burns, with a staggering 782,347,341 SHIB tokens incinerated through 75 transactions. This concerted effort reflects the community’s commitment to reducing the circulating supply and potentially influencing the coin’s value in the highly dynamic cryptocurrency landscape. In just the last 24 hours, an astonishing 244,753,783 SHIB tokens were burned, marking a major milestone for the SHIB army.

Source: Shib Burn

The majority of these burned tokens, a staggering 191,531,588 SHIB, found their way into dead-end wallets in a single massive transfer. This strategic move to lock away a substantial portion of the supply has been meticulously documented by Shibburn, a platform that tracks SHIB burns. As a result of these extensive burns, the SHIB burn rate has surged by an impressive 35.88%.

However, amidst this burning frenzy, a peculiar event unfolded on Friday. The Whale Alert crypto tracker reported an astronomical transfer of 4,595,530,677,374 SHIB tokens, valued at $33,377,339, from the crypto exchange Bitvavo, headquartered in Amsterdam. While this eye-catching transaction initially raised eyebrows, it was later revealed to be an internal maneuver by Bitvavo, aimed at reorganizing their SHIB holdings.

Empty Wallets Becoming Shiba Inu Whales

This incident harkens back to earlier in the year when Whale Alert observed similar transfers from Bitvavo, involving trillions of SHIB tokens. These transfers were distinct in that they involved empty wallets receiving massive amounts of SHIB, effectively creating new Shiba Inu whales. The practice of accumulating such substantial quantities of SHIB by previously empty wallets is a testament to the coin’s appeal and the allure of its community.

In summary, the SHIB community’s commitment to reducing the circulating supply through token burns has showcased their dedication to the project’s long-term success. While the crypto world is often characterized by volatility and unpredictability, these recent developments in the Shiba Inu ecosystem highlight the community’s strategic thinking and ability to adapt to changing circumstances, ultimately contributing to the coin’s ongoing narrative.

Shiba Inu Enthusiasm: AI Signals Positive Trends for SHIB

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Shiba Inu was introduced in 2020 and has made significant progress since its inception. In a relatively short period, the project has successfully cultivated a devoted following known as the “SHIB Army.” This dedicated community is highly active on social platforms such as X (formerly Twitter) and Reddit, where members regularly engage in discussions and constructive debates regarding both major and minor developments related to the project.

The value of the asset has also experienced a substantial increase over the years. Starting from a nearly negligible number of zeros in its price, SHIB has undergone remarkable growth, eliminating more than half of those zeros.

Shiba Inu

When questioned about its future prospects, the AI chatbot I consulted expressed optimism for Shiba Inu. It highlighted that SHIB has recently attracted significant attention, raising the possibility of lucrative opportunities on the horizon for this asset.

Shiba Inu’s Next Steps: Predicting the Future

In recent months, SHIB has encountered a series of setbacks, experiencing a greater number of declines than increases in its value. Due to this heightened volatility, it’s challenging to make definite predictions regarding its future trajectory. Nevertheless, the My AI chatbot maintains a positive outlook. When questioned about whether SHIB will witness a more favorable trend of increases compared to declines in the future, the chatbot encouraged further exploration of the topic.

“Shiba Inu might have some exciting ups in store for us!”

Shiba Inu

Shiba Inu currently boasts a diverse range of accomplishments. From a foundational standpoint, the project has advanced rapidly. It has successfully ventured into various domains, including the metaverse, card games, and the development of its native Layer 2 (L2) solution, effectively covering a multitude of significant aspects. Additionally, numerous sub-projects are currently in the works and are anticipated to launch soon.

In terms of adoption, SHIB has been on an upward trajectory. It has not only seen increased activity on various exchanges but has also gained acceptance as a valid payment method within various business ventures, cementing its status as a recognizable and mainstream name. What began as a humorous response to Dogecoin’s popularity has evolved into Shiba Inu establishing its unique identity and making substantial strides. Nevertheless, the journey is far from over, and the project remains steadfast in its pursuit, aiming for ambitious goals.