Shiba

2024

Kusama

Shiba Inu

<div class="finbold">
 <p class="paragraph">Not long after famed puppy-themed meme cryptocurrency Shiba Inu (SHIB) started showing strength, propelling it to shed a zero from its <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a>, it has continued to add further gains, racing over 20% in a single day and more than 170% across the week, leaving crypto traders surprised.</p>
 <p class="paragraph">Indeed, Shiba Inu has recently made a massive rally that saw its price hit $0.00002597, which are the levels last seen in mid-2022, before it declined and started to move in a rather steady sideways pattern – right until March 2024, according to the most recent charts on March 4.</p>
 <h2 class="wp-block-heading" id="h-shib-price-analysis">SHIB price analysis</h2>
 <p class="paragraph">Specifically, the second-famous puppy-themed crypto asset was at press time changing hands at a <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> 20.90% higher than 24 hours earlier, adding up to an increase of a whopping 174.38% on its weekly chart and an even more significant monthly <a rel="noopener noreferrer nofollow" title="rally" href="https://thebittimes.com/tag/rally.html">rally</a> of 185.96%.</p>
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   <svg width="32" height="32" viewbox="0 0 32 32" fill="none" xmlns="//www.w3.org/2000/svg"><path d="M4 10.6665V25.3332C4 28.2678 6.392 29.3332 8 29.3332H28V26.6665H8.016C7.4 26.6505 6.66667 26.4078 6.66667 25.3332C6.66667 24.2585 7.4 24.0158 8.016 23.9998H28V5.33317C28 3.8625 26.804 2.6665 25.3333 2.6665H8C6.392 2.6665 4 3.73184 4 6.6665V10.6665ZM8 5.33317H25.3333V21.3332H6.66667V6.6665C6.66667 5.59184 7.4 5.34917 8 5.33317Z" fill="#EF4444"> 
    </path> <path d="M15.996 18.6668L20.4626 14.2815C20.738 14.0166 20.9571 13.6989 21.1068 13.3473C21.2564 12.9957 21.3336 12.6176 21.3336 12.2355C21.3336 11.8534 21.2564 11.4752 21.1068 11.1236C20.9571 10.7721 20.738 10.4543 20.4626 10.1895C19.9074 9.64148 19.1587 9.33422 18.3786 9.33422C17.5985 9.33422 16.8498 9.64148 16.2946 10.1895L15.996 10.4801L15.6973 10.1881C15.1423 9.64023 14.3938 9.33301 13.614 9.33301C12.8341 9.33301 12.0856 9.64023 11.5306 10.1881C11.2552 10.453 11.0361 10.7707 10.8865 11.1223C10.7368 11.4739 10.6597 11.852 10.6597 12.2341C10.6597 12.6162 10.7368 12.9944 10.8865 13.346C11.0361 13.6975 11.2552 14.0153 11.5306 14.2801L15.996 18.6668Z" fill="#EF4444"> 
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 <figure class="wp-block-image"><img decoding="async" width="1200" height="800" src="https://cdn.thebittimes.com/images/2024/03/04/0a31c3d666298b25b53744b9cb41b2cc.webp" alt class="wp-image-158561" srcset="https://cdn.thebittimes.com/images/2024/03/04/0a31c3d666298b25b53744b9cb41b2cc.webp 1200w, https://cdn.thebittimes.com/images/2024/03/04/0a31c3d666298b25b53744b9cb41b2cc.webp 300w, https://cdn.thebittimes.com/images/2024/03/04/0a31c3d666298b25b53744b9cb41b2cc.webp 1024w, https://cdn.thebittimes.com/images/2024/03/04/0a31c3d666298b25b53744b9cb41b2cc.webp 768w" sizes="(max-width: 1200px) 100vw, 1200px">
  <figcaption class="wp-element-caption"><em>SHIB 7-day <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> chart. Source: </em><em>Finbold</em>
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 <p class="paragraph">It is currently facing the strongest resistance at the $ 0.000028 <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> level, the surpassing of which could herald even stronger gains while having advanced far above its support area, which currently stands between $0.00001698 and $ 0.00002050.&nbsp;</p>
 <p class="paragraph">Earlier, data from the crypto market intelligence and advanced decentralized finance (DeFi) <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> platform <em>IntoTheBlock </em>revealed that 63% of SHIB holders at the time were making money, with 32% recording losses and 5% breaking it even, as Finbold reported on March 3.</p>
 <p class="paragraph">At press time, the number of SHIB holders in profit was even higher, hitting 69%, as the losing figure dropped to 24%, while 7% of the meme token’s holders were breaking it even, according to the most recent information retrieved from <em>IntoTheBlock </em>on March 4.</p>
 <figure class="wp-block-image"><img decoding="async" width="912" height="347" src="https://cdn.thebittimes.com/images/2024/03/04/407fefc1709eafd31915ac75f4e99d0a.webp" alt class="wp-image-158560" srcset="https://cdn.thebittimes.com/images/2024/03/04/407fefc1709eafd31915ac75f4e99d0a.webp 912w, https://cdn.thebittimes.com/images/2024/03/04/407fefc1709eafd31915ac75f4e99d0a.webp 300w, https://cdn.thebittimes.com/images/2024/03/04/407fefc1709eafd31915ac75f4e99d0a.webp 768w" sizes="(max-width: 912px) 100vw, 912px">
  <figcaption class="wp-element-caption"><em>SHIB holders making money at current price. Source: </em><em>IntoTheBlock</em>
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 </figure>
 <h2 class="wp-block-heading" id="h-bullish-price-action-indicators">Bullish price action indicators</h2>
 <p class="paragraph">At the same time, positive price action and profit for holders have given rise to an exceptionally bullish sentiment for the so-called ‘Dogecoin (DOGE) killer,’ which currently rates as a ‘strong buy’ on its 1-day, 1-week, and 1-month technical analysis (TA) gauges, based on optimistic moving averages (MA) and oscillators.</p>
 <figure class="wp-block-image"><img loading="lazy" decoding="async" width="1600" height="452" src="https://cdn.thebittimes.com/images/2024/03/04/78cd4f81b3f2bedb1f3fe8dbdcc90d8b.webp" alt class="wp-image-158562" srcset="https://cdn.thebittimes.com/images/2024/03/04/78cd4f81b3f2bedb1f3fe8dbdcc90d8b.webp 1600w, https://cdn.thebittimes.com/images/2024/03/04/78cd4f81b3f2bedb1f3fe8dbdcc90d8b.webp 300w, https://cdn.thebittimes.com/images/2024/03/04/78cd4f81b3f2bedb1f3fe8dbdcc90d8b.webp 1024w, https://cdn.thebittimes.com/images/2024/03/04/78cd4f81b3f2bedb1f3fe8dbdcc90d8b.webp 768w, https://cdn.thebittimes.com/images/2024/03/04/78cd4f81b3f2bedb1f3fe8dbdcc90d8b.webp 1536w" sizes="(max-width: 1600px) 100vw, 1600px">
  <figcaption class="wp-element-caption"><em>SHIB 1-month sentiment gauges. Source: </em><em>TradingView</em>
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 <p class="paragraph">On top of that, SHIB’s blockchain Shibarium has recently got closer to the 3.5 million total blocks, currently counting over 1.36 million crypto wallet addresses, and is nearing the transaction count of 400 million, in addition to the ceaseless innovations in its ecosystem, as per the latest <em>Shibariumscan</em> data on March 4.</p>
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   <blockquote class="twitter-tweet" data-width="500" data-dnt="true">
    <p lang="en" dir="ltr">Our latest partnershib is a BIG one. Pay close attention to why Encryption and Privacy are important to the Shib Ecosystem and state! #SHIB #Zama #FHE https://t.co/ZFoJaRJpJE</p>— Shytoshi Kusama (@ShytoshiKusama) February 28, 2024
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 <p class="paragraph">Taking into account the bullish momentum, as well as the relative strength index (RSI) at a historic level of 87 points and the moving average convergence divergence (MACD) indicator pointing at a ‘buy,’ it seems that SHIB holders could profit from the current meme mania revival, and possibly turn an investment of a mere $10 into $100 this week.</p>
 <p class="paragraph"><strong><em>Disclaimer:</em></strong><em> The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/shib-price-explosion-sees-170-rally-in-a-week-what-s-happening-tbt81536.html">https://thebittimes.com/shib-price-explosion-sees-170-rally-in-a-week-what-s-happening-tbt81536.html</a></p>

SHIB price explosion sees 170% rally in a week; What’s happening?

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