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TL;DR Shiba Inu’s price faces further downside risks due to a sharp drop in Shibarium activity, a collapse in the burn rate, and other factors. However, a predominantly negative exchange netflow suggests investors might be moving SHIB off exchanges into self-custody, potentially easing selling pressure and hinting at a short-term price rebound. What Signals a Severe Pullback? The second-biggest meme coin has not been in good shape lately. Its price has fallen over 25% in the past month, currently trading at roughly $0.00001543. SHIB Price, Source: CoinGecko Some key elements indicate the meme coin might be headed for a deeper correction. One of those is the decreased Shibarium activity. Daily transactions processed on the layer-2 scaling solution have dropped from over 4.5 million last week to under 100,000 on February 17. Shibarium is specifically designed to foster the development of the Shiba Inu ecosystem, and its further advancement could positively impact the price of the underlying token. Conversely, its stalled progress may have the opposite effect. Next on the list is Shiba Inu’s burning program. The burn rate has collapsed 95% over the last 24 hours, resulting in just 1.7 million tokens sent to a null address. The mechanism’s ultimate goal is to reduce the circulating supply of SHIB, potentially making it more valuable in time. Lastly, we will touch upon the overall bearish environment of the entire meme coin niche. The sector’s total market capitalization has slipped by 5% in the past day, currently set at less than $75 billion. The vast majority of the memes, including Dogecoin (DOGE), Pepe (PEPE), Official Trump (TRUMP), Bonk Inu (BONK), Floki Inu (FLOKI), and many more have recorded substantial losses. Meme coins are often driven by hype, community sentiment, and speculative trading. A downtrend of the entire sector can dampen enthusiasm, leading to reduced trading volume and selling pressure on numerous tokens, including SHIB. Something for the Bulls Despite the aforementioned bearish factors, it is not all doom and gloom, with one on-chain metric suggesting a possible price reversal in the short term. This is Shiba Inu’s exchange netflow which, according to CryptoQuant, has been predominantly negative in the last month. The development signals about a potential shift from centralized platforms toward self-custody methods, which in turn, reduces the immediate selling pressure. The post Another Shiba Inu (SHIB) Price Crash Ahead? 3 Factors Driving Bearish Sentiment appeared first on CryptoPotato.

As of today, Shiba Inu (SHIB) has reached a reset point, stabilizing after notable price fluctuations. This phase is characterized by reduced volatility and market indecision, with SHIB’s price hovering around $0.00001546 . This means that the cryptocurrency has reached a level where past trends, momentum, and trading patterns have essentially been neutralized, allowing for a fresh start in price movement. SHIB has formed a double bottom near the $0.00001485 level, suggesting potential support and a trend reversal. A recent death cross , where the short-term moving average crosses below the long-term moving average, indicates bearish momentum. Historically, this pattern can precede further declines or serve as a precursor to a significant reversal. The current inactivity of large holders (aka whales) suggests possible declines in volatility and liquidity. Their absence may keep SHIB’s price relatively stable around this reset point, frustrating traders seeking profit from price movements. Also, SHIB exhibits a pattern of increased trading volume at the start of each week, followed by a decline. Such cyclical behavior may influence short-term price movements and trader strategies. It’s hard to predict where this will lead. The fact remains that the market is no longer heavily biased toward either buying or selling, meaning SHIB is consolidating after considerable price fluctuations. For investors, one could say that the market is in a state of indecision, where something huge will need to happen for SHIB to break out of its current stagnation. It’s also worth noting that prolonged periods of low volatility often build pressure, leading to substantial price movements once a breakout occurs – if it occurs at all, that is. In addition, if big investors aren’t actively trading, it can reduce volatility and cause the price to remain stagnant. On the other hand, if buying pressure increases due to positive catalysts such as whale accumulation or major announcements, SHIB could rally upward. Whatever the case, SHIB’s stabilization at this reset point reflects a balance between potential support levels and bearish indicators. The future trajectory of this cryptocurrency will largely depend on market catalysts and the re-engagement of prominent market participants. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

Shiba Inu (SHIB) has just caught the attention of analysts, who are predicting a possible breakout based on a technical formation. According to market analyst Javon Marks, SHIB looks like it has broken out of a Falling Wedge pattern, which could set the stage for a price increase. If this breakout holds true, SHIB might skyrocket over 422%, possibly reaching a new all-time high of $0.00008841. However, certain price resistance levels must be cleared before any upward movement can happen. The current technical analysis of Shiba Inu shows the formation of a Falling Wedge pattern. This structure is seen in a series of lower highs and higher lows, signaling a potential reversal after the price breaks above the upper trendline. The wedge formation has been forming since August 2021 and is nearing completion. If SHIB breaks out from this pattern, the price could trend higher in the coming months, with many investors viewing this as a high-risk, high-reward opportunity. Related: Shiba Inu Hints at Price Reversal After a 284% Spike in SHIB Burns The price must clear critical resistance levels for Shiba Inu to start a confirmed uptrend. Based on data from IntoTheBlock, about 757 trillion SHIB tokens were purchased above $0.000016, with 84% of 637 trillion tokens bought between $0.000016 and $0.000024. These investors are currently “out of the money,” so breaking through the $0.000018 to $0.000022 range would bring most of them back into profitability. At the time of writing, SHIB’s price was $0.00001531, a decrease of 3.92% over the past 24 hours. SHIB had surged to $0.00001593 earlier in the day before the decline. This fluctuation shows the volatility inherent in SHIB’s price action. Despite the recent downturn, the market capitalization remains at $9.02 billion, and the 24-hour trading volume has jumped by 50.70%, reaching $257.67 million. However, the circulating supply of SHIB stands at 589.25 trillion tokens, which may increase the risk of inflationary pressure. The MACD and RSI further suggest the downward pressure on SHIB’s price. The MACD is showing a bearish signal, with the MACD line below the signal line and the histogram displaying red bars, indicating stronger selling pressure. Related: Shiba Inu Battles Resistance Levels as Whales Bet Big on Recovery In the meantime, the RSI stands at 37.67, suggesting that SHIB is not yet in an oversold condition but is approaching a critical juncture. If the RSI remains above 30 and holds steady, a potential rebound could occur, possibly leading to a more favorable market environment for SHIB. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

As the meme coin craze continues, the market capitalization increased from $20 billion in January 2024 to $120 billion by the end of the same year. It is no surprise that Dubai’s Virtual Assets Regulatory Authority (VARA) has issued an alert informing consumers and investors of the risks associated with advertisements promoting subscriptions to memecoins. The alert emphasized that many meme coins lack intrinsic value and derive their pricing from social media trends, hype, or misleading promotional strategies. Memecoins issued out of Dubai need to adhere to VARA regulations Per VARA, “Investors should exercise caution when presented with claims of unrealistic returns, as these often indicate fraudulent schemes.” VARA also alerts investors and consumers to the fact that there is a risk of significant financial loss within short timeframes due to price collapses, liquidity shortages, or scams. The regulator also clarified that any virtual asset issued from Dubai including any promotions, advertisements, or solicitation needs to adhere to regulations and rulebooks set by VARA. VARA warns entities engaging in unauthorized virtual asset activities of possible enforcement action. “Both consumers and investors should be aware that access to memecoin platforms may be restricted without prior notice. Thus, everyone must take necessary measures to safeguard personal financial security.” The announcement from VARA comes days after the UAE Ministry of Energy (MOEI) partnered with Shiba Inu to develop Web3 solutions in energy, infrastructure, and more. The UAE Ministry of Energy will leverage Shiba Inu’s broad range of Web3 technologies to support public service efficiency, green infrastructure, and citizen-focused governance models. Cryptopolitan Academy: Are You Making These Web3 Resume Mistakes? - Find Out Here