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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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Dogecoin (DOGE) and Shiba Inu (SHIB) have outperformed newer Solana-based memecoins Dogwifhat and Myro, which have seen significant declines from their recent highs. Despite a general downturn in the cryptocurrency market, Dogecoin maintains a strong network dominance, with high transaction activity suggesting its potential as a payment system. Shiba Inu's Shibarium blockchain has also seen a surge in activity. A notable SHIB transaction and a SHIB whale's involvement in burning tokens have been highlighted, indicating continued interest in these meme coins.

Portfolio Pulse from Khyathi Dalal

January 23, 2024 | 10:54 pm

Shiba Inu (CRYPTO: SHIB) has experienced a 4.33% price drop over the last 24 hours, continuing a weekly decline of 10%. The trading volume has increased by 56%, and the circulating supply has risen by 0.55%, with a current market cap ranking of #19 at $5.13 billion.

Portfolio Pulse from Benzinga Insights

January 23, 2024 | 7:03 pm

Shiba Inu's (CRYPTO: SHIB) burn rate increased by 450%, with over 146 million SHIB tokens burned in a single day. A significant transaction removed over 100 million SHIB. The crypto derivatives market saw increased activity in SHIB, with an Open Interest (OI) of $18 million. OKX exchange led in SHIB derivative trades with $7.5 million in OI. The long versus short position ratio suggests a bullish sentiment. Despite this, SHIB's price was down 3.45% at $0.000008949.

Portfolio Pulse from Mehab Qureshi

January 23, 2024 | 11:00 am

This week in crypto saw Shiba Inu's whale transaction volume surge by 551.4%, despite a 4.3% dip in its price. Over $200 million in long crypto positions were liquidated, with Bitcoin and Ethereum taking significant hits. Donald Trump expressed opposition to Central Bank Digital Currencies (CBDCs), vowing to prevent their creation in the U.S. An analyst predicted Dogecoin could reach $5, a 6000% increase. Edward Snowden commented on JP Morgan CEO's changing Bitcoin stance after SEC approved a Bitcoin ETF.

Portfolio Pulse from Benzinga Neuro

January 20, 2024 | 3:53 pm

Anita Max Wynn (WYNN), a Solana-based memecoin, saw a 70% price surge after being listed on Poloniex and receiving a casual mention from Drake's partner Stake.com. The coin's rally occurred despite an initial drop following Drake's involvement. WYNN's trading volume hit $7.7 million, outperforming other memecoins like Dogecoin (DOGE) and Shiba Inu (SHIB), which saw around 1% gains.

Portfolio Pulse from Khyathi Dalal

January 19, 2024 | 10:21 pm

Cryptocurrency analyst Michael Van de Poppe discussed the current state of meme coins, highlighting Solana's BONK, Floki, and TokenFi. BONK saw a 9900% increase in 2023, benefiting from strong community support and Solana's resurgence. Van de Poppe believes meme coins will continue to be driven by community strength and hype rather than utility. Floki's developers launched TokenFi, a tokenization platform for real-world assets, aiming to transition from a meme coin to a serious DeFi project. This aligns with industry trends towards tokenization, as noted by BlackRock's Larry Fink.

Portfolio Pulse from Mehab Qureshi

January 19, 2024 | 4:23 am

Shiba Inu (CRYPTO: SHIB) saw a 551% surge in whale transaction volumes, with Robinhood accumulating 231 billion SHIB. Daily transactions increased, and a wallet linked to TRON's Justin Sun withdrew 79.4 billion SHIB from Binance. Fundamental developments, such as the SHIB Name Token and Ryoshi Network's use of SHIB as a gas token, could improve SHIB's performance. Shiba Inu is the 16th most valuable cryptocurrency with a $5.4 billion market cap.

Portfolio Pulse from Khyathi Dalal

January 18, 2024 | 10:09 pm

Shiba Inu (CRYPTO: SHIB) has experienced a 3.93% price drop over the last 24 hours, continuing a weekly decline of 11%. The trading volume has decreased by 68%, while the circulating supply has increased by 0.32%, resulting in a current market cap ranking of #18 at $5.39 billion.

Portfolio Pulse from Benzinga Insights

January 18, 2024 | 7:03 pm

TradeStation Crypto, a subsidiary of TradeStation Group, has announced it will cease spot cryptocurrency trading. The company will stop accepting new account applications and customer deposits for its crypto division immediately. All trading and withdrawals will be suspended on Feb. 22, 2024. This decision does not affect TradeStation Securities, which will continue to support trading in crypto-related instruments on regulated exchanges. TradeStation recently added Aave, Compound, Chainlink, Polygon, Maker, and Shiba Inu to its trading offerings.

Portfolio Pulse from Murtuza Merchant

January 18, 2024 | 3:11 pm

The meme coin Dogwifhat (WIF), which operates on the Solana (SOL) blockchain, saw a 35% increase in value after Binance announced the launch of a USDⓈ-M WIF Perpetual Contract with up to 50x leverage. The announcement led to a surge in trading volume for WIF, with a 72% increase from the previous day, and a market capitalization now exceeding $454 million. This follows a trend of meme coins on Solana gaining popularity, as seen with BONK's previous rise.

Portfolio Pulse from Mehab Qureshi

January 18, 2024 | 9:01 am

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