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Popular doggy-themed meme coin, Shiba Inu, has experienced a major crash in whale net flows, signaling a shift in sentiment among large-scale investors.
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Popular dog-themed meme coin Shiba Inu has taken a hit as its small wallet holdings have witnessed a significant decline in the midst of general market uncertainty, which has triggered heightened fear among cryptocurrency investors.
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In a disturbing turn of events, the attacker behind the WazirX cryptocurrency breach, who made off with $100 million in Shiba Inu, continues to launder stolen Ethereum (ETH).
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Dogecoin (DOGE) and Shiba Inu (SHIB) are currently experiencing a downtrend, highlighting the bearish sentiment towards these meme coins. This price decline is due to several factors, including developments in the broader crypto market.
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Shiba Inu is one of the altcoins that have been hit, especially in the crypto market crash, seeing a substantial decline from its 2024 highs. However, this has not deterred community members from their mission of trying to reduce the meme coin’s supply through burning.
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The crypto industry might be looking unfavorable in terms of price increases with Bitcoin’s break below $50,000, but Shiba Inu (SHIB) holders seem to be defying the odds.
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The meme coin market is undergoing a dramatic downturn, with prominent cryptocurrencies like Dogecoin (DOGE), and Shiba Inu (SHIB) facing substantial decline.
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Crypto analyst Zach Humphries has made a bullish case for Shiba Inu (SHIB), predicting that the crypto token could rise to as high as $0.00014 in this market cycle.
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Shiba Inu (SHIB) has started the month on a bearish note, as its price has dropped significantly since September 1. Based on historical data, SHIB could suffer more price declines this month, as the meme coin has often closed at a loss in September.
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Shiba Inu marketing lead LUCIE has chimed in on the Bitcoin bull run debate and when it is likely to begin in full force. She uses the legendary Bitcoin post-halving rally that has often even the start of a new bull run.
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Kraken, a prominent cryptocurrency exchange has recently expanded its support for dog themed meme coin Shiba Inu (SHIB). This notable development comes ahead of the highly anticipated launch of SHIB Eternity, marking a major milestone for the Shiba Inu ecosystem.
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The Shiba Inu burn rate has seen a notable spike in the past 24 hours that suggests a turn in the tide when it comes to SHIB burning. However, despite this notable spike, it is not exactly the most encouraging of burns given the number of coins that has been burned.
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As the cryptocurrency market turns optimistic, a crypto analyst has predicted that Shiba Inu (SHIB) is about to undergo a bullish breakout. However, he emphasizes that in order to validate the meme coin’s upward trajectory, it must first overcome a significant resistance level.
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