Shiba

Source

April

Change

Shiba Inu

<p>SHIB traders, get ready for a roller coaster ride this June! The latest analyses reveal bleak prospects for your favorite crypto. With surprising market movements and declining indicators, it’s time to brace for potential turbulence. Here’s a detailed overview of upcoming events for Shiba Inu (SHIB).</p>
<h2 id="h-shiba-inu-the-fall-of-hopes">Shiba Inu: The Fall of Hopes</h2>
<p><strong>The month of June starts chaotically</strong> for Shiba Inu, the meme crypto beloved by many investors eager for <a href="https://www.cointribune.com/combien-de-crypto-shiba-inu-vous-faut-il-acheter-aujourdhui-pour-etre-parmi-les-millionnaires-au-bull-run/#:~:text=Ce%20jeton%2C%20inspir%C3%A9%20du%20c%C3%A9l%C3%A8bre,de%20l%27achat%20en%202021." target="_blank" rel="noopener noreferrer nofollow">million-dollar gains</a>. The <a href="https://ambcrypto.com/why-shiba-inu-may-experience-a-messy-june/" target="_blank" rel="noopener noreferrer nofollow">experts at AMBCrypto</a> have noticed a significant shift that could leave holders in a delicate situation.</p>
<div class="my-4">
 <div class="ads " data-page-type="" data-location="1">
 </div>
</div>
<p>An in-depth analysis using Glassnode shows that <strong>SHIB’s net exchange position was positive on June 1st</strong>, with 2.60 trillion tokens traded.</p>
<p>This means that <strong>many tokens were sent to crypto exchanges</strong>, creating selling pressure.</p>
<div class="affiliate-button"><a class="affiliate-button__link" href="https://bitvavo.com/invite?a=2831A22E17" target="_blank" rel="noopener noreferrer nofollow">€20 bonus for registering on Bitvavo</a> <a class="affiliate-button__disclaimer" href="https://www.cointribune.com/en/sponsored-content/" target="_blank" rel="noopener noreferrer nofollow">This link uses an affiliate program.</a>
</div>
<p>Historically, such pressure often leads to <strong>a drop in prices</strong>, and SHIB seems no exception. After a period of stagnation in April and May, where <strong>the price remained stable</strong>, the increased supply on exchange platforms could indicate an imminent new drop.</p>
<p>At the time of writing, SHIB was trading at $0.00002497, marking <strong>a 6.49% decline over the last 90 days</strong>. Continuing this trend could see the price drop to as low as $0.000020.</p> 
<div class="tradingview-widget-container tradingview--mini-chart">
 <div class="tradingview-widget-container__widget"></div>
 <div class="tradingview--mini-chart--dark">
  <script type="text/javascript" src="https://s3.tradingview.com/external-embedding/embed-widget-mini-symbol-overview.js" async>{"symbol":"BINANCE:SHIBEUR","width":350,"height":220,"isTransparent":false,"autosize":false,"dateRange":"12M","trendLineColor":"rgba(253,64,19,1)","underLineColor":"rgba(253,64,19,0.6)","underLineBottomColor":"rgba(253,64,19,0)","locale":"en","largeChartUrl":false,"colorTheme":"dark"}</script>
 </div>
 <div class="tradingview--mini-chart--light">
  <script type="text/javascript" src="https://s3.tradingview.com/external-embedding/embed-widget-mini-symbol-overview.js" async>{"symbol":"BINANCE:SHIBEUR","width":350,"height":220,"isTransparent":false,"autosize":false,"dateRange":"12M","trendLineColor":"rgba(253,64,19,1)","underLineColor":"rgba(253,64,19,0.6)","underLineBottomColor":"rgba(253,64,19,0)","locale":"en","largeChartUrl":false,"colorTheme":"light"}</script>
 </div>
 <div class="tradingview-widget-copyright"><a href="https://fr.tradingview.com/symbols/SHIBEUR/?exchange=BINANCE" rel="noopener noreferrer nofollow" target="_blank"><span class="text-primary-color">SHIBEUR chart</span></a> by TradingView
 </div>
</div> 
<h2 id="h-a-decreasing-demand-for-shib-crypto">A Decreasing Demand for SHIB Crypto</h2>
<p>The other concerning indicator for SHIB is the <strong>growth of its network</strong>. This metric, which measures <strong>the number of new addresses interacting with the <a href="https://www.cointribune.com/shiba-inu-shib-le-memecoin-le-plus-populaire-aux-etats-unis/" target="_blank" rel="noopener noreferrer nofollow">favorite memecoin of Americans</a> for the first time</strong>, has recently dropped.</p>
<div class="wp-block-image">
 <figure class="aligncenter size-large"><img decoding="async" src="https://ambcrypto.com/wp-content/uploads/2024/06/shiba-inu-exchange-net-change.png" alt="variation-position-nette-SHIB">
  <figcaption class="wp-element-caption">
   SHIB Net Exchange Position Change – Source – Glassnode
  </figcaption>
 </figure>
</div>
<p>According to data from Santiment, this decline began after <strong>a peak on May 29th</strong>, signaling a decrease in network adoption. A stalled network growth often means <strong>less traction and interest in Shiba Inu’s crypto</strong>, which could further exert negative pressure on SHIB’s price.</p>
<p>Additionally, the <strong>daily circulation of SHIB</strong>, another key measure, was 965.89 billion at the time of writing. <strong>Lower circulation indicates fewer transactions</strong> and, consequently, reduced demand for the token. Without a significant increase in demand, it seems unlikely that SHIB can rally quickly.</p>
<div class="affiliate-button"><a class="affiliate-button__link" href="https://join.swissborg.com/r/frederEZU5" target="_blank" rel="noopener noreferrer nofollow">Buy your crypto with Swissborg</a> <a class="affiliate-button__disclaimer" href="https://www.cointribune.com/en/sponsored-content/" target="_blank" rel="noopener noreferrer nofollow">This link uses an affiliate program.</a>
</div>
<p>Some analysts suggest that <strong>to see a rebound, SHIB’s demand needs to be spectacular</strong>, which could push the price back up to $0.000030.</p>
<div class="my-4">
 <div class="ads " data-page-type="" data-location="2">
 </div>
</div>
<p>As June progresses, SHIB holders should prepare for potential market fluctuations. With key indicators pointing towards increased selling pressure and declining demand, SHIB’s price could experience a further correction. However, as always in the crypto world, <a href="https://www.cointribune.com/en/crypto-shiba-inu-spectacular-rebound-after-a-week-of-turbulence/" target="_blank" rel="noopener noreferrer nofollow">a spectacular reversal</a> is never off the table.</p>

Shiba Inu Crypto: Buckle up for an unleashed June!

Table of Contents

Cointribune EN

Other articles published on Jun 4, 2024

4 Cryptos for Long-Term Gains : Bitgert, Safle, Chain4Energy, Pawfury

Top Reasons Dogecoin (DOGE) is Poised for A Rally Soon

World of Dypians Wins the BNB Chain DAU Incentive Program, Securing $60,000 in BNB

Which ZK Rollup Projects Are Emerging As Influencers in 2024?

Cipher Mining Expands in Texas with $2.5M Bitcoin Mining Site Acquisition

BlockDAG Tops Crypto Investment Charts With Keynote 2 Launch as XRP Market Cap Climbs and Notcoin...

Join our free newsletter for daily crypto updates!