Shiba

Source

Burn

Shiba Inu

Inu.

<p>The post <a href="https://coinpedia.org/news/binance-to-burn-shib-can-it-reach-0-00002065/" rel="noopener noreferrer nofollow">BINANCE to Burn SHIB! Can it reach $0.00002065?</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a></p>
<p>Shiba Inu, along with other meme coins like Doge, Pepe, and DOGwifhat, has experienced a significant price rise in the past 24 hours. The enthusiasm of the Shiba Army and the activity on the charts suggest that Shiba Inu might be gearing up for a price rally.</p>
<h2 class="wp-block-heading" id="h-shiba-army-s-request-to-binance">Shiba Army’s Request to Binance</h2>
<p>Recently, Binance CEO Richard Tend tweeted about US listed Bitcoin ETFs. In response, the Shiba Army actively requested that Binance burn SHIB tokens, similar to how they burn LUNC collected as trading fees.</p>
<div class="wp-block-image">
 <figure class="aligncenter size-full is-resized"><a href="https://x.com/CryptoLollla/status/1810587322121146478" target="_blank" rel="noopener noreferrer nofollow"><img decoding="async" width="625" height="423" src="https://image.coinpedia.org/wp-content/uploads/2024/07/13232240/richard-tweet.png" alt="" class="wp-image-326889" style="width: 100%;height:auto" srcset="https://image.coinpedia.org/wp-content/uploads/2024/07/13232240/richard-tweet.png 625w, https://image.coinpedia.org/wp-content/uploads/2024/07/13232240/richard-tweet-300x203.png 300w, https://image.coinpedia.org/wp-content/uploads/2024/07/13232240/richard-tweet-220x150.png 220w, https://image.coinpedia.org/wp-content/uploads/2024/07/13232240/richard-tweet-150x102.png 150w" sizes="(max-width: 625px) 100vw, 625px"></a>
  <figcaption class="wp-element-caption">
   Source : X (Formerly Twitter)
  </figcaption>
 </figure>
</div>
<p>Shortly after, the Shib burning tracker Twitter handle quoted a fan’s tweet to Richard, asking to imagine if Binance burned SHIB like LUNC. This tweet received massive support from Shiba Inu fans.</p>
<div class="wp-block-image">
 <figure class="aligncenter size-full is-resized"><a href="https://x.com/shibburn/status/1810737834124529942" target="_blank" rel="noopener noreferrer nofollow"><img decoding="async" width="627" height="271" src="https://image.coinpedia.org/wp-content/uploads/2024/07/13232405/shib-burn-tracker-tweet.png" alt="" class="wp-image-326890" style="width: 100%;height:auto" srcset="https://image.coinpedia.org/wp-content/uploads/2024/07/13232405/shib-burn-tracker-tweet.png 627w, https://image.coinpedia.org/wp-content/uploads/2024/07/13232405/shib-burn-tracker-tweet-300x130.png 300w, https://image.coinpedia.org/wp-content/uploads/2024/07/13232405/shib-burn-tracker-tweet-150x65.png 150w" sizes="(max-width: 627px) 100vw, 627px"></a>
  <figcaption class="wp-element-caption">
   Source : X (Formerly Twitter)
  </figcaption>
 </figure>
</div>
<h2 class="wp-block-heading" id="h-technical-aspect-of-shib">Technical Aspect of SHIB</h2>
<p>According to IntoTheBlock data, Shiba Inu may face significant resistance at its next price stage. Between $0.000017 and $0.000019, there are 30.37k addresses holding a total of 424.11T SHIB tokens purchased at this price. Once the price breaches this zone, these holders might book profits, potentially causing the price to drop again.</p>
<div class="wp-block-image">
 <figure class="aligncenter size-large is-resized"><img decoding="async" width="1024" height="226" src="https://image.coinpedia.org/wp-content/uploads/2024/07/13232445/shib-break-even-price-1024x226.png" alt="into the bloc showing shib in out money" class="wp-image-326891" style="width: 100%;height:auto" srcset="https://image.coinpedia.org/wp-content/uploads/2024/07/13232445/shib-break-even-price-1024x226.png 1024w, https://image.coinpedia.org/wp-content/uploads/2024/07/13232445/shib-break-even-price-300x66.png 300w, https://image.coinpedia.org/wp-content/uploads/2024/07/13232445/shib-break-even-price-768x170.png 768w, https://image.coinpedia.org/wp-content/uploads/2024/07/13232445/shib-break-even-price-1536x340.png 1536w, https://image.coinpedia.org/wp-content/uploads/2024/07/13232445/shib-break-even-price-150x33.png 150w, https://image.coinpedia.org/wp-content/uploads/2024/07/13232445/shib-break-even-price.png 1678w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Source : IntoTheBlock
  </figcaption>
 </figure>
</div>
<p>On the other hand, the Stoch RSI shows a rising pattern for Shiba Inu. A similar pattern in the first week of July led to a 36% price rise.</p>
<div class="wp-block-image">
 <figure class="aligncenter size-large is-resized"><img decoding="async" width="1024" height="469" src="https://image.coinpedia.org/wp-content/uploads/2024/07/13232529/shiba-4-h-chart-1024x469.png" alt="shiba price chart" class="wp-image-326892" style="width: 100%;height:auto" srcset="https://image.coinpedia.org/wp-content/uploads/2024/07/13232529/shiba-4-h-chart-1024x469.png 1024w, https://image.coinpedia.org/wp-content/uploads/2024/07/13232529/shiba-4-h-chart-300x137.png 300w, https://image.coinpedia.org/wp-content/uploads/2024/07/13232529/shiba-4-h-chart-768x352.png 768w, https://image.coinpedia.org/wp-content/uploads/2024/07/13232529/shiba-4-h-chart-1536x704.png 1536w, https://image.coinpedia.org/wp-content/uploads/2024/07/13232529/shiba-4-h-chart-150x69.png 150w, https://image.coinpedia.org/wp-content/uploads/2024/07/13232529/shiba-4-h-chart.png 1969w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Source : TradingView
  </figcaption>
 </figure>
</div>
<p>In the past 24 hours, the price of this meme token has already increased by 8.87%. If it overcomes the resistance and rises by 30%, Shiba Inu’s price could reach $0.00002065, another major resistance point.</p>
<div class="wp-block-image">
 <figure class="aligncenter size-large is-resized"><img decoding="async" width="1024" height="461" src="https://image.coinpedia.org/wp-content/uploads/2024/07/13232602/shiba-price-prediction-1024x461.png" alt="" class="wp-image-326893" style="width: 100%;height:auto" srcset="https://image.coinpedia.org/wp-content/uploads/2024/07/13232602/shiba-price-prediction-1024x461.png 1024w, https://image.coinpedia.org/wp-content/uploads/2024/07/13232602/shiba-price-prediction-300x135.png 300w, https://image.coinpedia.org/wp-content/uploads/2024/07/13232602/shiba-price-prediction-768x346.png 768w, https://image.coinpedia.org/wp-content/uploads/2024/07/13232602/shiba-price-prediction-1536x692.png 1536w, https://image.coinpedia.org/wp-content/uploads/2024/07/13232602/shiba-price-prediction-150x68.png 150w, https://image.coinpedia.org/wp-content/uploads/2024/07/13232602/shiba-price-prediction.png 1871w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Source : TradingView
  </figcaption>
 </figure>
</div>
<p>The Rising Star candlestick pattern on the chart confirms this. The last three months of Shiba Inu’s movement indicate a bearish trend. The formation of the Rising Star at the end of this trend suggests a potential trend reversal.</p>
<div class="wp-block-image">
 <figure class="aligncenter size-large is-resized"><img decoding="async" width="1024" height="461" src="https://image.coinpedia.org/wp-content/uploads/2024/07/13232648/shiba-end-of-bear-trend-1024x461.png" alt="shib end of down trend" class="wp-image-326894" style="width: 100%;height:auto" srcset="https://image.coinpedia.org/wp-content/uploads/2024/07/13232648/shiba-end-of-bear-trend-1024x461.png 1024w, https://image.coinpedia.org/wp-content/uploads/2024/07/13232648/shiba-end-of-bear-trend-300x135.png 300w, https://image.coinpedia.org/wp-content/uploads/2024/07/13232648/shiba-end-of-bear-trend-768x346.png 768w, https://image.coinpedia.org/wp-content/uploads/2024/07/13232648/shiba-end-of-bear-trend-1536x692.png 1536w, https://image.coinpedia.org/wp-content/uploads/2024/07/13232648/shiba-end-of-bear-trend-150x68.png 150w, https://image.coinpedia.org/wp-content/uploads/2024/07/13232648/shiba-end-of-bear-trend.png 1875w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Source : TradingView
  </figcaption>
 </figure>
</div>
<h2 class="wp-block-heading" id="h-looking-forward">Looking Forward</h2>
<p>If we analyze the candlestick pattern and on-chain data on the chart, it becomes clear that Shiba Inu’s price is currently in a very critical zone. If SHIB holders refrain from selling off in this zone, we could soon see a significant price surge in this meme token. Binance accepting their burning request could further boost the price. However, investors and traders should always remember that meme coins are highly volatile. Even a small move by <a href="https://coinpedia.org/news/shiba-inu-news-today-shib-price-poised-for-breakout-as-whale-accumulation-surge/" rel="noopener noreferrer nofollow">whales can greatly impact</a> price movements. Proceed with caution.</p>

BINANCE to Burn SHIB! Can it reach $0.00002065?

Table of Contents

CoinPedia News

Other articles published on Jul 13, 2024

MicroStrategy Stock Split: Company Announces 10-for-1 Split to Boost Accessibility and Investor E...

5 Altcoins You’ll Regret Missing Out On – Potential 4000% Upside

iEXEC RLC price prediction 2024-2030: Is RLC a good investment?

Can Elon Musk Favorite Dogecoin Make A New All-Time This Year? Experts Feel Kaspa (KAS) and Rollb...

Solana-Based Pump.fun Emerges As The Go-To Platform For Memecoin Creation, Report

Cosmos and Bittensor’s Declining Prices Lead Investors to MoonBag’s Best Presale in July 2024!

Join our free newsletter for daily crypto updates!