Shiba

Burn

Shiba Inu

Coin

Divergence

Shiba Inu Coin price prediction: SHIB, a popular meme coin, has seen a notable increase in its value over the past 24 hours, with a 2.97% rise in price. Currently trading at $0.00002341, the <a href="https://coingape.com/price/shiba-inu/" rel="noopener noreferrer nofollow">SHIB price</a> boasts a market capitalization of $13.79 billion, placing it as the 11th largest coin in terms of market cap. Over the past day, the trading volume has also grown by 1.79%, totaling $379.74 million.
<h2 id="span-style-font-weight-400-shiba-inu-coin-price-prediction-potential-rise-as-market-stabilizes-span">Shiba Inu Coin Price Prediction: Potential Rise as Market Stabilizes</h2>
<a href="https://coingape.com/price-predictions/shiba-inu-shib-price-prediction/" rel="noopener noreferrer nofollow">Shiba Inu Coin</a> has shown considerable resilience and a robust recovery in recent hours. This increase comes after a series of declines earlier today, catching the attention of investors and analysts alike. Over the past week, SHIB recorded a slight rise of over 3%, with prices oscillating between $0.0000224 and $0.0000261.&nbsp;
Despite a 14% decrease over the last month due to market corrections, the current surge in its value suggests a growing optimism among investors, potentially marking a transition from bearish to more bullish market conditions. This change in sentiment could signal a shift in investor confidence, heralding a new phase for the cryptocurrency.
<figure id="attachment_196235" aria-describedby="caption-attachment-196235" style="width: 100%" class="wp-caption aligncenter"><img decoding="async" class="size-full wp-image-196235" src="https://coingape.com/wp-content/uploads/2024/05/SHIBUSD_2024-05-10_11-16-27-e1715334597858.png" alt="SHIB Price Prediction as Burn Rate Soars, Will $0.00003 Be Next?" width="1200" height="617">
 <figcaption id="caption-attachment-196235" class="wp-caption-text">
 Shiba Inu Coin Price Prediction
 </figcaption>
</figure>
In recent news, the meme cryptocurrency Shiba Inu has captured attention with a significant increase in its burn rate, soaring by over 5500%. According to <a rel="noopener noreferrer nofollow" href="https://www.shibburn.com/">Shib burn</a>, approximately 26 million SHIB tokens were removed from circulation yesterday. This action has injected optimism into the market for this dog-themed <a href="https://coingape.com/glossary/cryptocurrency/" rel="noopener noreferrer nofollow">cryptocurrency</a>.&nbsp;
<h2 id="span-style-font-weight-400-shiba-inu-s-impressive-burn-rate-fuels-market-optimism-span">Shiba Inu’s Impressive Burn Rate Fuels Market Optimism</h2>
The impressive 5564.09% rise in the burn rate, which saw 25.93 million SHIB tokens destroyed, signals a positive outlook. Market spectators anticipate that the decrease in total supply may lead to an uptick in SHIB’s value. This recent development brings a hopeful perspective to <a href="https://coingape.com/shiba-inu-burn-rockets-5500-shib-price-braces-for-rally/" rel="noopener noreferrer nofollow">Shiba Inu</a> holders and investors.
If the market recovery persists, the meme cryptocurrency could surpass the $0.000025 mark, potentially elevating its price to $0.00003. This increase might pave the way for it to reach the $0.00003 level. With continued bullish pressure, <a href="https://coingape.com/markets/shib-coin-price-prediction-can-exploding-burn-rate-propel-shiba-inu-to-0-00005/" rel="noopener noreferrer nofollow">SHIB</a> might climb to $0.00005 by the end of April.
Conversely, a market downturn could drag SHIB down to the support level of $0.000023. A shift to negative market sentiment could further reduce its value to $0.000022. A surge in bearish activity could confirm a descending trend in its price.
<h2 id="span-style-font-weight-400-technical-indicators-suggest-a-steady-path-for-shib-span">Technical Indicators Suggest a Steady Path for SHIB</h2>
The four-hour technical indicators for meme-coins reflect a period of relative stability in price movement. The Moving Average Convergence Divergence (MACD) line is nearly flat, indicating a lack of significant momentum in either direction. The Relative Strength Index (RSI) hovers around 49.77, suggesting a balanced market condition without clear overbought or oversold signals.&nbsp;
<figure id="attachment_196237" aria-describedby="caption-attachment-196237" style="width: 100%" class="wp-caption aligncenter"><img decoding="async" class="size-full wp-image-196237" src="https://coingape.com/wp-content/uploads/2024/05/SHIBUSD_2024-05-10_12-51-27-e1715334738624.png" alt="SHIB Price Prediction as Burn Rate Soars, Will $0.00003 Be Next?" width="1200" height="617">
 <figcaption id="caption-attachment-196237" class="wp-caption-text">
 Shiba Inu Coin Price Prediction| Source: <a rel="noopener noreferrer nofollow" href="https://www.tradingview.com/x/FjCXuvD6/">Tradingview</a>
 </figcaption>
</figure>
The Bollinger Bands on the 4-hour chart of Shiba Inu indicate a period of consolidation. The upper Bollinger Band is currently at $0.00002391, while the lower band is at $0.00002233. This narrow band range suggests low volatility, with the price mainly fluctuating between these values over the observed period.
The post <a href="https://coingape.com/markets/shib-price-prediction-as-burn-rate-soars-is-shiba-inu-coin-poised-for-0-00003/" rel="noopener noreferrer nofollow">SHIB Price Prediction as Burn Rate Soars, Is Shiba Inu Coin Poised For $0.00003?</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

SHIB Price Prediction as Burn Rate Soars, Is Shiba Inu Coin Poised For $0.00003?

Obsah

Coingape News Media

Ďalšie články zverejnené 10. 5. 2024

Announcing: Conflux’s Developer Ambassador Program

North Korea’s BRICS Approach: Forging a New Global Equilibrium?

Magic Eden NFT marketplace surpasses Blur in trading volume

LayerZero Sybil Detection Report Is Being Conducted With Chaos Labs And Nansen

Binance Charts Path to Compliance, Resumes Operations in Indian Crypto Market

$1.4 Billion in Bitcoin on the Move: How Much Did It Cost to Transfer 22,329 BTC?

Pripojte sa k nášmu bezplatnému bulletinu a získajte denné aktualizácie kryptomien!