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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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Bonk (CRYPTO: BONK), a memecoin rival to Dogecoin, surged 19.5% in the last 24 hours, with a 24-hour trading volume of $592 million. A bullish trader who previously profited from BONK has reinvested, purchasing 3.29 billion BONK with 386 Solana (CRYPTO: SOL). Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB) saw smaller gains. The market is also reacting to the approval of a Spot Bitcoin ETF, and influencers are comparing BONK to Dogecoin on the Solana platform.

Portfolio Pulse from Khyathi Dalal

January 11, 2024 | 9:00 pm

Shiba Inu (CRYPTO: SHIB) has seen a significant price increase of 12.15% in the last 24 hours, reaching $0.000010. Over the past week, the cryptocurrency has risen over 4.0%. The trading volume surged by 66.0%, and the circulating supply grew by 0.69%, now standing at 589.28 trillion. Shiba Inu's market cap is currently ranked #18, valued at $6.17 billion.

Portfolio Pulse from Benzinga Insights

January 11, 2024 | 3:03 pm

Shiba Inu (CRYPTO: SHIB) has seen a 27,500% increase in its token burn rate, with 9 billion SHIB tokens removed from circulation. Shibburn reported two entities transferred 9.5 billion and 30 million SHIB to a 'dead wallet'. IntoTheBlock noted a 1,300% rise in large SHIB transactions by whales. Shiba Inu's lead developer announced plans to apply for the .shib TLD to expand its domain use. SHIB's price is slightly down by 1.16% at $0.0000094.

Portfolio Pulse from Mehab Qureshi

January 10, 2024 | 12:38 pm

The cryptocurrency market is experiencing notable activity with a 588% surge in Shiba Inu's burn rate and a 1,300% increase in whale transactions. Solana's ecosystem boasts over 2,500 monthly active developers. Solana (SOL) and Avalanche (AVAX) are up in trading, while memecoins Bonk (BONK) and Celestia (TIA) have seen significant increases. XRP saw a large transfer of 100 million coins. Crypto analyst Ali Martinez predicts a potential bull run for Solana and a consolidation period for Cardano (ADA) until April 2024, with a possible resumption of a bull run thereafter. He also notes that the negative market sentiment for XRP could offer unique opportunities.

Portfolio Pulse from Khyathi Dalal

January 09, 2024 | 6:20 pm

The Solana-based meme cryptocurrency Bonk (BONK) has surged 30% in the past 24 hours, outperforming other meme coins like Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe Coin (PEPE). The market is optimistic about a potential Bitcoin ETF approval, which has contributed to a broader market recovery. Solana (SOL) has seen increased on-chain trading volumes and network fees, surpassing Ethereum (ETH). Crypto exchange OKX plans to list BONK and Jito (JTO) on January 8, 2024.

Portfolio Pulse from Mehab Qureshi

January 09, 2024 | 4:39 am

Shiba Inu (CRYPTO: SHIB) has seen a decline of over 10% in the past week amid reduced transaction activity and burn rates. The Shib team is encouraging investors to purchase Shibarium NFTs to increase transactions. A new whale withdrew 546 million SHIB from Binance, and the burn rate has decreased by 91.2% in the last 24 hours. Despite the weekly drop, SHIB is up 1.9% in the past 24 hours.

Portfolio Pulse from Khyathi Dalal

January 08, 2024 | 8:22 pm

Solana (CRYPTO: SOL) has experienced a 9.9% drop over the past week, with Solana-based memecoins such as Bonk, dogwifhat, and WOOF seeing even larger declines. Despite a strong rally in December, the recent downturn is attributed to profit-taking and a shift of investor interest towards other cryptocurrencies, possibly influenced by the anticipation of a Bitcoin ETF. Established memecoins like Dogecoin and Shiba Inu also fell but less sharply. Analyst Michaël van de Poppe suggests the altcoin correction is temporary and may rebound post-ETF frenzy.

Portfolio Pulse from Khyathi Dalal

January 08, 2024 | 6:07 pm

Shiba Inu (CRYPTO: SHIB) burn rate increased by 2500%, with 53.29 million tokens removed from circulation. This follows a year of active community participation in burning SHIB tokens, totaling over 76 billion. The Shiba Inu marketing lead announced incentives for accruing SHIB and LEASH tokens, with 90 million SHIB and LEASH tokens to be distributed in the next four months.

Portfolio Pulse from Mehab Qureshi

January 08, 2024 | 4:11 am

The first week of 2024 saw mixed expectations for a Bitcoin ETF approval by the SEC, with only 39% of financial advisors confident in an approval this year. BlackRock, VanEck, and Valkyrie Investments are awaiting the SEC's decision on their Bitcoin ETF applications. Economist Peter Schiff warned that the market might be disappointed by the outcome. Shiba Inu's burn rate surged by 373%, indicating a cautiously optimistic outlook for 2024. Crypto analysts highlighted the importance of Bitcoin and other cryptocurrencies like Solana and Ethereum, with the upcoming Bitcoin halving event also being a point of focus.

Portfolio Pulse from Benzinga Neuro

January 07, 2024 | 2:07 pm

Shiba Inu (CRYPTO: SHIB) has seen a 373% surge in its burn rate and a 41% increase in daily transactions, with 5.7 million SHIB tokens burned in the last 24 hours. The community is looking forward to the launch of an automated burn mechanism in January 2024, which is expected to significantly reduce the total circulating supply. A Twitter account named Shib Bezos suggested SHIB could reach $0.01, potentially surprising many. Despite these developments, SHIB's price is down 4% in the past 24 hours and 7.8% over the past week.

Portfolio Pulse from Khyathi Dalal

January 05, 2024 | 5:45 pm

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