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SHIBUSD

Shiba Inu / US Dollar

Industry

Digital Currency

SHIB is a token designed to be an Ethereum-compatible alternative to Dogecoin (DOGE). Like DOGE, SHIB is intentionally abundant — with an initial circulating supply of one quadrillion coins. The Shiba Inu ecosystem also supports projects such as an NFT art incubator and a decentralized exchange called Shibaswap.

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Meme coins Dogecoin (DOGE) and Shiba Inu (SHIB) experienced a downturn, with DOGE down 2% and SHIB slightly up by 0.2% over the past 24 hours. Despite a rise in Dogecoin's daily active addresses and a high correlation with Bitcoin, which is also down, both coins saw a decrease in large transaction volumes and SHIB's burn rate. However, the long-term outlook remains optimistic with expectations of a peak in the coming months and a notable interest in holding these coins.

Portfolio Pulse from Khyathi Dalal

April 17, 2024 | 6:57 pm

Roger Stone has partnered with MAGA memecoin, aiming to boost its appeal with his political notoriety. The coin, launched in August 2023, seeks to rival Dogecoin and Shiba Inu, with ambitious growth plans for 2024. MAGA Memecoin has also donated nearly $2 million in Ethereum to charitable causes. This partnership highlights the increasing integration of meme coins with political figures and societal frameworks.

Portfolio Pulse from Murtuza Merchant

April 17, 2024 | 5:44 pm

'Dogecoin Killer' Shiba Inu (CRYPTO: SHIB) has seen a significant increase in its token burn rate, with a 25.9% rise in 24 hours and a 269.9% increase over 7 days, as reported by Shibburn. This comes amid a market correction for SHIB, with the price recovering by 4.97% in the past 24 hours despite a nearly 16% fall over the past week. The burn rate's increase, reducing the token supply, could signal a potential turnaround for Shiba Inu's market performance.

Portfolio Pulse from Benzinga Neuro

April 17, 2024 | 3:42 am

Shiba Inu (CRYPTO: SHIB) saw a price increase of 4.97% in the last 24 hours to $0.000022, despite a 20% loss over the past week. The trading volume for SHIB increased by 54%, and its circulating supply rose by 0.11% to over 589.26 trillion, with a current market cap ranking of #12 at $13.19 billion.

Portfolio Pulse from Benzinga Insights

April 16, 2024 | 7:00 pm

Shiba Inu (CRYPTO: SHIB) has seen a 20% decrease over the week, yet analysts, including Yomi, predict a bullish future due to significant technical indicators and a surge in daily transactions and burn rate. Key indicators include a bullish monthly cross on the AZO momentum indicator and a potential cross of the Monthly MACD zero line. Additionally, a 489.9% increase in the burn rate and a doubling of daily transactions signal strong community engagement and potential for growth.

Portfolio Pulse from Khyathi Dalal

April 16, 2024 | 3:26 pm

TradeTheFlow, a crypto and macro researcher, has presented a thesis on the rise of meme coins, suggesting they are becoming a new asset class within crypto. This thesis categorizes meme coins into Original (OG) memes like Dogecoin (DOGE) and Shiba Inu (SHIB), Solana memes, and Base memes. The researcher argues that the popularity of meme coins is driven by societal shifts towards high-risk investments and a rebellion against traditional financial systems.

Portfolio Pulse from Khyathi Dalal

April 16, 2024 | 1:04 pm

Shiba Inu (SHIB) has seen a 3% increase in price alongside a 7,351% surge in daily transactions over four days, attributed to community developments and a decentralized building initiative by Ryoshi Network. The initiative aims to make SHIB a gas for a community-driven L2 ecosystem, enhancing DeFi utilities access. Shiba Inu's sponsorship of the Web3 Summit Dubai and strategic investment policies by its marketing lead, Lucie, further bolster its position. Additionally, a significant token inflow to large holders and a notable token burn have contributed to positive market sentiment.

Portfolio Pulse from Khyathi Dalal

April 15, 2024 | 3:28 pm

Shiba Inu (SHIB) experienced a significant liquidation event with $3.63 million worth of SHIB, or approximately 14.8 trillion tokens, being liquidated amid a market downturn. Despite a 12.17% price drop in the last day, large transactions surged by 276.29%, and trading volume increased to $1,199,915,774. Over 12,000 addresses hold at least 1 billion SHIB, with 73% of investors holding for over a year, indicating strong investor confidence and potential for recovery.

Portfolio Pulse from Bibhu Pattnaik

April 13, 2024 | 4:31 pm

Edward Snowden mocked the cryptocurrency community's reaction to recent market fluctuations, noting that Bitcoin's price has remained relatively stable over the past week despite a 4.9% drop in the last 24 hours. This commentary comes amid broader market turmoil, with significant drops also seen in Dogecoin and Shiba Inu. The cryptocurrency market is facing heightened volatility, with recent predictions of a major downturn and potential impacts on companies like MicroStrategy.

Portfolio Pulse from Rounak Jain

April 13, 2024 | 8:22 am

'Dogecoin Killer' Shiba Inu (SHIB) has seen a significant increase in daily transactions, with a 3,555% surge, and its burn rate spiked by 1,465%. This indicates a bullish sentiment among investors. Shiba Inu's lead developer, Shytoshi Kusama, expressed enthusiasm for contributing to the Content Delivery Security Association with blockchain technology. Additionally, D3 Global now accepts Shiba Inu and BONE for payments on Shibarium.

Portfolio Pulse from Khyathi Dalal

April 12, 2024 | 6:56 pm

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