Shiba

Burn

2024

Shiba Inu

Inu.

<p>The post <a href="https://coinpedia.org/news/shiba-inu-coin-heres-why-shiba-inu-price-is-surging-today/">Shiba Inu Coin: Here’s Why Shiba Inu Price Is Surging Today</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>The <a href="https://markets.coinpedia.org/shiba-inu/">Shiba Inu</a> cryptocurrency (SHIB) has experienced a notable 10.4% surge in its price over the past 24 hours, bringing it close to $0.000026. This rise has caught the attention of analysts and traders alike, sparking discussions about its underlying causes.</p> 
<p>However, some attribute this jump mainly due to SHIB’s burn rate increasing by 1000% and positive market sentiment following Bitcoin’s price recovery. While others speculate that this price surge may be influenced by different reasons.&nbsp;</p> 
<h2 class="wp-block-heading" id="h-shiba-inu-burn-rate-surge-high">Shiba Inu Burn Rate Surge High</h2> 
<p>Shiba Inu, known as an OG crypto meme token for many reasons is showing a sign of a bullish rally ahead. Meanwhile, the recent surge in SHIB’s burn rate has <a href="https://www.shibburn.com/" target="_blank" rel="noreferrer noopener">witnessed 1009%</a> in the last 24 hours, destroying 29.11 million SHIB tokens.</p> 
<p>This reduction in supply boosted SHIB’s price above critical resistance, now standing firm above $0.000026. Despite significant selling (211 billion coins in a day), Shiba Inu shows resilience, maintaining an upward trajectory.</p> 
<p>Meanwhile, On-chain data indicates reduced selling pressure, with SHIB liquidations <a href="https://coinalyze.net/shiba-inu/liquidations/" target="_blank" rel="noreferrer noopener">totaling $541.39K</a>. Additionally, coinglass <a href="https://www.coinglass.com/currencies/SHIB" rel="nofollow">reports suggest that</a> the open interest for Shiba Inu has risen by 17.73%, reaching $69.06 million, reflecting growing investor interest in Shiba Inu.</p> 
<h2 class="wp-block-heading" id="h-paypal-s-collaboration">PayPal’s Collaboration</h2> 
<p>Adding to the positive sentiment, a recent collaboration with <a href="https://coinpedia.org/news/here-is-why-the-crypto-market-is-up-today/" target="_blank" rel="noreferrer noopener">PayPal’s MoonPay has enabled </a>U.S. users to purchase SHIB tokens directly through PayPal’s crypto payment processor. This integration has contributed to increased accessibility and adoption of the meme coin.</p> 
<h2 class="wp-block-heading" id="h-kraken-listing-shiba-inu">Kraken Listing Shiba Inu</h2> 
<p>Furthermore, Kraken Pro, a prominent U.S.-based exchange, has announced a new development: the addition of Shiba Inu (SHIB) to its margin trading pairs.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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   <p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f4e3.png" alt="📣" class="wp-smiley" style="height: 1em; max-height: 1em;"> New margin pairs now available for:<br><br><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/2705.png" alt="✅" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://twitter.com/search?q=%24ICP&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ICP</a> <a href="https://twitter.com/dfinity?ref_src=twsrc%5Etfw">@dfinity</a> <br><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/2705.png" alt="✅" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://twitter.com/search?q=%24PEPE&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$PEPE</a> <a href="https://twitter.com/pepecoineth?ref_src=twsrc%5Etfw">@pepecoineth</a> <br><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/2705.png" alt="✅" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://twitter.com/search?q=%24SHIB&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SHIB</a> <a href="https://twitter.com/Shibtoken?ref_src=twsrc%5Etfw">@Shibtoken</a> <br><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/2705.png" alt="✅" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://twitter.com/search?q=%24WIF&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$WIF</a> <a href="https://twitter.com/dogwifcoin?ref_src=twsrc%5Etfw">@dogwifcoin</a> <br><br>Gain exposure to these tokens and 120+ margin pairs on Kraken<br><br>*Geographic restrictions apply<br><br>Trade now <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f447.png" alt="👇" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/wYKejnxiyV">https://t.co/wYKejnxiyV</a> <a href="https://t.co/uXH2PyM0YL">pic.twitter.com/uXH2PyM0YL</a></p>— Kraken Pro (@krakenpro) <a href="https://twitter.com/krakenpro/status/1786069017100276069?ref_src=twsrc%5Etfw">May 2, 2024</a>
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<p>Traders on Kraken Pro can now leverage SHIB against the U.S. dollar with a maximum leverage of three. The platform has set a cap of 1.5 billion SHIB for both long and short positions, catering to the growing demand for meme-inspired cryptocurrencies like SHIB in the market.&nbsp;</p> 
<h2 class="wp-block-heading" id="h-shiba-inu-price-analysis">Shiba Inu Price Analysis</h2> 
<p>As of now, Shiba Inu is trading at $0.000026, reflecting a 10% increase in the last 24 hours. The surge in trading volume has also risen by 32%, reaching $850 million, with a market cap of $15 billion.</p> 
<p>Looking ahead, analysts predict a significant price surge for Shiba Inu, projecting a 226.71% increase to reach $0.00007193 by June 1, 2024. This forecast highlights growing market optimism and potential future gains for SHIB investors.</p> 
<p>Also Check Out: <a href="https://coinpedia.org/price-prediction/shiba-inu-price-prediction/">Shiba Inu Price Prediction 2024 – 2025: Will SHIB Price Reach $0.1 With A New Bull Run?</a></p>

Shiba Inu Coin: Here’s Why Shiba Inu Price Is Surging Today

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