Crypto Blog
Shiba Inu , one of the industry’s most popular meme coins and crypto ecosystems, trailed behind other popular tokens like Dogecoin last week, with a price decline of 8% on the weekly scale.The analyst, citing data from a 6-hour chart, highlights the emergence of a symmetrical triangle, which traders consider a bullish pattern characterized by lower highs and higher lows.In symmetrical triangles, an asset price usually hinders in a period of consolidation, fluctuating within narrowing levels.
However, the analyst noted that SHIB is undergoing a retest that, if successful, could catapult the token into a 2X rally by mid-December. This means SHIB could surge to around $0.000044. Yet this price remains well below SHIB’s all-time high of $0.000086., SHIB witnessed a surge in token burns, with over 15.5 billion tokens destroyed. This is a 2,300% increase compared to February’s figures, indicating significant activity within the SHIB ecosystem.
Interestingly, SHIB was involved in a massive transaction after KuCoin, one of the largest crypto exchanges, was indicted by US regulators. The regulators claim the broker failed to implement anti-money laundering and know-your-customer checks.The Best Shiba Inu Alternatives in 2024: Meme Coin Deep DiveSign-up FREE to receive our extended weekly market update and coin analysis report
Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
SHIB Lead Breaks Silence on Shiba Inu New Mega Deal: DetailsShiba Inu lead Shytoshi Kusama speaks as last piece in collection of Shiba Inu technologies unfolds
Read more »
Cryptocurrencies Price Prediction: Ripple, Shiba inu & Chainlink — Asian Wrap 11 MarchAutomated Market Maker (AMM) is set to debut on the XRPLedger and XRP holders will have the opportunity to provide liquidity to the AMM and earn passive income.
Read more »
Cryptocurrencies Price Prediction: Ripple, Shiba Inu & EthereumXRP price corrected after hitting its year-to-date peak of $0.7440.
Read more »
Shiba Inu Price Prediction: SHIB loses top 10 position to AVAXShiba Inu (SHIB) price is in a catch-22, filling up a triangle on the technical chart amid an ongoing meme coin cool-off.
Read more »
Cryptocurrencies Price Prediction: Bitcoin, Shiba Inu & PolygonBitcoin price journey to $80K still in cards as BTC ETFs poised to dethrone Gold ETFs Bitcoin (BTC) price northbound trajectory continues to sustain for weeks on end, with the apex cryptocurrency progressively recording new all-time highs weeks ahead of the halving.
Read more »
Cryptocurrencies Price Prediction: Ripple, Bitcoin & Shiba Inu — Asian Wrap 14 MarchXRP price is currently consolidating below its 2024 peak of $0.7440.
Read more »