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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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The past week saw significant declines in the Dow, S&P 500, and Nasdaq Composite. Amidst this, the 10-year U.S. Treasury yield surged, hinting at potential interest rate increases due to inflationary pressures. Bullish views were expressed for Tesla and Nvidia, while bearish views were expressed for Roblox, Snapchat, SPDR S&P 500 ETF Trust, and Invesco QQQ Trust Series 1.

Portfolio Pulse from Michael Cohen

August 19, 2023 | 3:05 pm

A significant amount of Shiba Inu (CRYPTO: SHIB) tokens were transferred between unknown wallets, coinciding with the launch of Shiba Inu's new Layer 2 scaling solution, Shibarium. The Shiba Inu network, built on the Ethereum (CRYPTO: ETH) blockchain, faced technical issues due to a surge in traffic after the announcement of Shibarium's launch. The intentions of the SHIB whale remain unclear, but such movements often precede major market activities.

Portfolio Pulse from Murtuza Merchant

August 18, 2023 | 4:15 pm

FLOKI, a cryptocurrency that emerged in June 2021, has expressed its admiration for fellow meme coins Dogecoin and Shiba Inu. The Floki Core Contributor stated that there is no rivalry between Floki and other meme coins. Floki has amassed 470,000 holders and secured listings on over 100 exchanges. The cryptocurrency has also developed a DeFi platform called FlokiFy and the University of Floki, a crypto educational platform. At the time of writing, FLOKI was trading at $0.00002156, down 4.67% in the last 24 hours.

Portfolio Pulse from Mehab Qureshi

August 18, 2023 | 11:54 am

Shiba Inu (CRYPTO: SHIB) fell by 12% in a single day, underperforming compared to Dogecoin (CRYPTO: DOGE) and Pepe Coin (CRYPTO: PEPE). This decline comes after the launch of the Ethereum (CRYPTO: ETH) layer 2 solution, Shibarium, which faced technical difficulties. Bitcoin (CRYPTO: BTC) also saw a significant drop, falling below the $26,000 mark for the first time in two months.

Portfolio Pulse from Mehab Qureshi

August 18, 2023 | 7:55 am

Cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB), Ripple (XRP), Cardano (ADA), Solana (SOL), Dogecoin (DOGE), Shiba Unu (SHIB), and Shibarium governance tokens (BONE, LEASH) experienced a downturn following the Federal Reserve's signal of a potential rate hike. The Fed's July meeting minutes indicated concerns about 'upside risks' to inflation, leading to the steepest rise in the primary interest rate in over two decades.

Portfolio Pulse from Murtuza Merchant

August 17, 2023 | 5:21 pm

Shibarium, the Layer 2 network of Shiba Inu (CRYPTO: SHIB), launched amidst technical issues due to an unprecedented surge in traffic. The developers assured that there are no bridge issues and all user funds remain secure. The launch of Shibarium, built on the Ethereum (CRYPTO: ETH) blockchain, aims to tackle issues related to slow transaction speeds and elevated gas costs in the blockchain domain. The Shiba Inu crypto is trading down 11.4% at $0.00000859.

Portfolio Pulse from Murtuza Merchant

August 17, 2023 | 3:24 pm

Cryptocurrency prices fell on Thursday, with Bitcoin trading below $28,500 and Ethereum below $1,800. This follows the release of U.S. jobless claims data, which showed a decline of 11,000 to 239,000. The global crypto market cap also fell by 1.7% to $1.13 trillion. Rocket Pool was the top gainer over the past 24 hours, while Sei was the biggest loser.

Portfolio Pulse from Lisa Levin

August 17, 2023 | 1:42 pm

Cryptocurrency analyst Michael Van De Poppe predicts a potential rally for Shiba Inu (CRYPTO: SHIB), with a potential increase of more than 30% if it manages to sustain its position above crucial support levels. However, the price of Shiba Inu tokens has decreased by approximately 8% following the launch of the Shibarium network due to reported bridging issues.

Portfolio Pulse from Mehab Qureshi

August 17, 2023 | 12:14 pm

Shiba Inu's price has dropped by 8% following the problematic launch of the Shibarium network. Transactions on the network were halted for at least five hours, with users unable to transfer Ethereum and BONE tokens. The Shibarium RPC website is currently inaccessible or experiencing downtime. Shytoshi Kusama, the lead developer of Shiba Inu, admitted in a Telegram channel that they 'f***ed up hard' and can't recover the ETH bridge.

Portfolio Pulse from Mehab Qureshi

August 17, 2023 | 6:57 am

The Shiba Inu project has launched Shibarium, a layer-2 scaling solution, on the mainnet. This is expected to enhance the performance and capabilities of tokens in the Shiba Inu ecosystem, including SHIB and BONE. The launch has led to a significant burn rate spike, with over $342 million worth of SHIB burned in the last 24 hours. However, Shiba Inu's price has dropped 9.0% over the past 24 hours.

Portfolio Pulse from Mehab Qureshi

August 17, 2023 | 3:46 am

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