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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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This week in crypto saw the rise of MAGA coin, a market crash prediction by Max Keiser, a significant burn rate increase for Shiba Inu, Dogecoin's acceptance by Ferrari, and Edward Snowden's support for Bitcoin. MAGA coin surged 20%, overshadowing Dogecoin and Shiba Inu. Keiser predicts a market crash and a Bitcoin boom, with potential government seizures of Bitcoin ETFs and mining operations. Shiba Inu's burn rate soared by 2,730%, and Dogecoin's value increased by 4% after Ferrari's acceptance. Snowden reiterated his support for Bitcoin.

Portfolio Pulse from Benzinga Neuro

February 25, 2024 | 5:49 am

Shiba Inu (SHIB) has seen a significant increase in its burn rate and daily transactions, indicating potential bullish momentum. A notable transaction involved a whale buying 551.4 billion SHIB tokens, reminiscent of a previous purchase that preceded a 1,100% price surge. The total burned supply now stands at 410.7 trillion out of 589.4 trillion tokens. The Shiba community is optimistic about the token's price potentially erasing one zero.

Portfolio Pulse from Khyathi Dalal

February 23, 2024 | 10:26 pm

Memecoins, cryptocurrencies valued for entertainment and speculation, show mixed performance with Dogecoin and Shiba Inu slightly down, while MAGA Memecoin surges. The overall memecoin market cap increased by 0.3% to $22.5 billion. Analysts attribute memecoin underperformance to the strength of core cryptocurrencies like Bitcoin and Ethereum, which have attracted more investor attention and capital. Despite this, some analysts remain optimistic about the potential of certain memecoins in the current market.

Portfolio Pulse from Khyathi Dalal

February 23, 2024 | 9:21 pm

The MAGA meme coin (CRYPTO: TRUMP) experienced a 20% increase in value, surpassing the growth of Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB), which both rose by 2%. This surge followed former President Trump's softened stance on Bitcoin (CRYPTO: BTC), acknowledging its growing acceptance in commercial transactions. MAGA, launched on August 11, 2023, aims to 'Make Crypto Great Again' without any official ties to Trump.

Portfolio Pulse from Mehab Qureshi

February 23, 2024 | 10:07 am

'Shiba Inu Killer' WIF has surged over 7,500% in less than three months, with predictions of further explosive growth. Cryptocurrency analyst Bluntz believes WIF will break the $0.50 resistance level, entering 'turbo parabolic' growth and challenging dog-themed coins like Dogecoin and Shiba Inu. WIF's rise signifies a shift in the memecoin sector, attracting new investors and challenging established coins. The total value of memecoins is $22.6 billion, with new entrants like Bonk and Pepe gaining traction.

Portfolio Pulse from Murtuza Merchant

February 22, 2024 | 5:33 pm

Cryptocurrency content creator Jake Gagain predicts Dogecoin (DOGE) will maintain a higher market cap than Shiba Inu (SHIB) in the 2025 bull run, despite Shiba Inu's utility and community support. Gagain highlights Dogecoin's market position, support from Elon Musk, and potential use in peer-to-peer payments on X. Contrarily, a Benzinga poll shows readers more bullish on Shiba Inu. Currently, DOGE and SHIB are trading up by 1% and 0.9% respectively.

Portfolio Pulse from Khyathi Dalal

February 22, 2024 | 4:48 pm

The Shiba Inu (SHIB) ecosystem has seen a 2,730% increase in its burn rate, with 3 trillion tokens moved to entities like Coinbase, Gate.io, Robinhood, and private wallets. The integration of Shibarium by Tangem and the launch of SHEboshi NFTs on Ethereum are notable developments. Daily transactions have surged to 4.21 million, and wallet addresses have exceeded 1 million. The introduction of Shiba Inu trading in UpDown Options on Crypto.com and the potential utility and burning capabilities of Shibarium are highlighted as key factors for SHIB's future growth.

Portfolio Pulse from Khyathi Dalal

February 21, 2024 | 11:47 pm

Benzinga's poll reveals GME Coin as the most popular meme coin among its social media followers, with Shiba Inu in second place. The interest in meme coins is rising, influenced by the cryptocurrency market's optimism and events like the approval of Bitcoin ETFs. GME Coin, inspired by GameStop but not affiliated, gained traction due to the 'Dumb Money' Netflix release and its narrative aligning with crypto traders' sentiments. Solana led 2023 returns among major cryptocurrencies, followed by Bitcoin, Ethereum, and Dogecoin.

Portfolio Pulse from Chris Katje

February 21, 2024 | 4:15 pm

Shiba Inu (CRYPTO: SHIB) has experienced a 3.76% decrease in price over the last 24 hours, marking a continuation of its -2.0% decline over the past week. Despite the decrease in price, trading volume for SHIB has increased by 95.0%, while its circulating supply has slightly decreased by 0.47%. Currently, SHIB's market cap ranks it 19th at $5.53 billion.

Portfolio Pulse from Benzinga Insights

February 21, 2024 | 3:02 pm

'Dogecoin killer' Shiba Inu (SHIB) sees a surge in daily transactions to 2.4M and is close to increasing its value significantly. The SHIB ecosystem is expanding with new NFT projects like Sheboshis, a metaverse project, a play-to-earn game, a decentralized exchange, and an L2 blockchain. A strategy to burn 10% of proceeds from the new NFT project aims to enhance ecosystem value. Daily transactions and active accounts have increased, with SHIB's price up 8% over the past month.

Portfolio Pulse from Khyathi Dalal

February 19, 2024 | 7:42 pm

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