🐶 Optimism Abounds Despite Shiba Inu Drop

However, as the crypto market suffered a pullback, Shiba Inu’s price decline led to a steep collapse in its market cap. The asset’s valuation has since dropped below the $10 billion mark it started November 2024 with, currently hovering around $9.92 billion at press time.

The current position represents a 49.6% crash in Shiba Inu’s market cap from the December 2024 peak. For context, SHIB’s price dropped from a high of $0.00003343 to the current figure of $0.00001684 as of the time of reporting.

Nonetheless, despite the bearish turn of events, confidence in Shiba Inu’s long-term potential has not waned. While some analysts believe a run to $0.000473 is imminent, others like Javon Marks expect the leading meme coin to claim a less ambitious price target of $0.0001553.

Regardless, the consensus is that SHIB will eventually recover from this pullback. As a result, the current situation presents an attractive opportunity to procure Shiba Inu at lower prices. For instance, an investor who commits $1,000 to Shiba Inu at the current price would amass 59,382,422 (59.38 million) tokens.

🐶 Returns of $1,000 in Shiba Inu if SHIB Hits XRP Market Cap

Should any of the projected price targets materialize, this investment will likely yield impressive returns. However, the extent of these returns remain uncertain. Most recently, we assessed how much ROI such an investment would bring in if Shiba Inu grew to claim the market cap of a top 3 asset like XRP.

Currently, XRP boasts a market cap of $161.54 billion, making it the third-largest asset by market cap. If Shiba Inu claimed this valuation, the price of one SHIB token would sit at $0.000274, a new all-time high, assuming its circulating supply remains fairly stable at 589.2 trillion tokens.

Notably, at the $0.000274 price, the 59.38 million Shiba Inu tokens, initially procured with the $1,000 investment, would have skyrocketed to about $16,270, bringing in a profit of $15,270. This target price will mark a 1,527% return on investment. Meanwhile, an initial investment of $100K would have resulted in a profit of about $1.5 million.

However, while the returns seem attractive, the prospect of Shiba Inu claiming a $161 billion market cap remains merely speculative at press time. For context, SHIB’s peak market cap was $51.8 billion, attained in October 2021 when Shiba Inu reached the all-time high of $0.000088.

DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

🐶 We are preparing for something exciting!

Be in charge ‼️

#Shibarmy

🐶 LOOK for something positive every day! Even some days you LOOK even harder!

Our time has to come! 🚀

ENDURANCE 👊🏼💎

#Shibarmy #Shibainucoin

🐶 Shiba Inu (SHIB): Reset Point Reached

Shiba Inu has finally reached a level that might become a foundation for a proper price reversal. Following the death cross, the price action suggests that SHIB could be around the bottom. The double bottom pattern is quite often regarded as a trend reversal level, but there is still a need to look back at the rest of the market.

SHIB has been on a downward trading trajectory and has had difficulty regaining momentum following a protracted sell-off. A double bottom that formed close to the $0.00001485 level, however, indicates that the meme token might be stabilizing. When buyers start to intervene and stop further declines, this pattern usually signals a possible support level. The death cross is one of the most important technical indicators to keep an eye on; it recently showed up on SHIB's chart.

When the short-term moving average crosses below the long-term moving average, it indicates bearish momentum. In the past, this configuration has frequently resulted in additional drops, but occasionally it has served as a starting point prior to a significant reversal. In order to validate a bullish reversal, SHIB must break above significant resistance levels, beginning with the 50-day moving average close to $0.00001700.

If this level is maintained, a recovery toward $0.00002000 may be possible. The asset may not be able to stage a significant recovery, though, as upside volume is still weak. SHIB may continue to drop toward $0.00001300 or lower if selling pressure continues and it is unable to hold the $0.00001485 support. SHIB's capacity to maintain a recovery is still in doubt, though, due to the absence of potent bullish catalysts on the market. SHIB has achieved significant technical support, but the direction of the market as a whole and the resurgence of buyer interest will determine much of its future course. Staying vigilant might be the key here as the rest of the market is yet to shown its true direction.

🐶 Coinbase Stunned by Mysterious 151,942,008,799 Shiba Inu (SHIB) Transfer

Despite the lack of action on the cryptocurrency market lately, there is still a lot going on behind the scenes of the price charts, especially in the on-chain realm.

Large transfers are still taking place, whales are shuffling their crypto capital and exchanges are managing their hot wallets and deposits. What the recent Shiba Inu (SHIB) shift was between these two options remains open to speculation.

However, it is a fact that just a week after acquiring nearly 152 billion SHIB, which is equivalent to about $2.28 million in the popular meme-inspired cryptocurrency, a wallet under the address "0x4c92" transferred all of its tokens to leading cryptocurrency exchange Coinbase.

What id interesting is that the tokens were also withdrawn from Coinbase, in two separate tranches. They made it back to the exchange a week later with a single batch of SHIB sent directly to the exchange.

🐶 What was this?

In the common perception of crypto market participants, such shifts are seen as an intent to sell by a large entity. The logic is that whales choose the most liquid platform to unload their holdings. This guarantees minimal slippage and price impact. If you try to look at it from another angle, it can be seen as an internal operation of Coinbase itself. However, this theory has some flaws, such as the fact that a small amount of ETH was purchased to facilitate the initial transactions, and this may indicate that the receiving address was indeed a decentralized one and did not belong to Coinbase. There is still some ETH left in the wallet.

What caused such a rapid change in sentiment is not really a question, as the cryptocurrency market looks like a hot mess these days. However, the lack of patience when dealing with billions of coins worth millions of dollars can still be surprising.

🐶 Shiba Inu price forms a death cross as Shibarium woes mount

Shiba Inu price remains in a deep bear market after crashing by over 50% from its highest level in November last year.

Shiba Inu, the second-biggest meme coin, has crashed to $0.00001610, and the downward trend may continue after it formed a death cross.

Shibarium TVL has crashed
Third-party data shows that the total value locked in the Shibarium ecosystem has crashed this year. It dropped to $2.3 million on Sunday, Feb. 16, from an all-time high of $6.27 million.

The TVL makes it a small player in the DeFi industry that has over $110 billion in assets. It is also smaller than several newer blockchains like Linea, Berachain, Sui, Base, and Sonic.

All dApps in Shibarium’s ecosystem have lost assets this year. ShibaSwap’s TVL has dropped by about 40% in the last 30 days to $1.26 million. Similarly, the TVL of protocols like WoofSwap, ChewySwap, and DogSwap has dropped by over 30% in this period.

The performance of Shibarium is important because its transactions happen in BONE. Some of these BONE tokens are then converted into Shiba Inu and then burned.

Data by ShibariumScan shows that the number of active accounts in Shibarium has dropped to 1,260 from last month’s high of near 4,500. The total transaction fees in the network have dropped to the lowest level in weeks. It made 450 BONE worth $130 on Saturday.

Shiba Inu launched Shibarium, a layer-2 blockchain with the goal of transitioning from just a meme coin into a utility token.

🐶 Shiba Inu price forecast

The daily chart shows that the SHIB price has retreated in the past few weeks. It dropped from $0.000033 in November to $0.000016 today.

This decline occurred after it formed a head-and-shoulders-like chart pattern, a highly bearish sign. It also dropped below the key support level at $0.00001856, its lowest swing on December 20.

Worse, the token has formed a death cross pattern as the 200-day and 50-day Weighted Moving Averages crossed each other. A death cross is one of the most bearish patterns in technical analysis.

Therefore, the token will likely continue falling as bears target this month’s low of $0.00001170, down by 30% from the current level.

Shiba Inu, launched in August 2020 by an anonymous developer known as Ryoshi, positioned itself as a so-called “Dogecoin killer.”

SHIB would gain traction in early 2021 for its decentralized nature and branding as an alternative to DOGE. It eventually attracted a strong following, dubbed the Shib Army.

That same year, Ethereum co-founder Vitalik Buterin burned 90% of his holdings (around $6.7 billion at the time) and donated the rest to India’s COVID-19 relief fund, boosting SHIB’s visibility.

🐶 Be greedy when there’s FEAR in the market!🫡

Find your edge! Then take off 🚀🚀

🐶 Shiba Inu Bounces Back After Death Cross; Will It Rally Next?

Shiba Inu (SHIB) is in the green days after posting a recent death cross, a technical indicator that typically signals bearish momentum. A death cross occurs when a shorter-term moving average, often the 50-day, dips below the longer-term 200-day moving average.

In the case of Shiba Inu, the daily SMA 50 has dropped beneath the daily SMA 200, confirming a death cross. Ahead of this bearish signal, Shiba Inu plummeted for four days at a stretch before slightly rebounding.

At the time of writing, SHIB was up 2.22% in the last 24 hours, trading at $0.00001555, extending its rebound from Feb. 19 lows of $0.000015. Taken from this date, Shiba Inu has marked three out of four days in green.

Friday's drop was driven by the market's reaction to an over $1.5 billion heist of the Bybit exchange, which analysts claim was the biggest crypto theft ever, with Shiba Inu posting a daily red candlestick. Shiba Inu rebounded in Saturday's trading session and was sustaining this rebound at press time.

🐶 Will SHIB rally higher?

If this happens and momentum sustains, a rally toward $0.00003 or higher could be possible. However, failure to sustain the upward movement may lead to further consolidation.

While the death cross initially signaled bearish pressure, SHIB’s rebound is sending a different signal, sparking speculation on whether Shiba Inu has formed a price bottom. This is because moving average crossovers are considered lagging indicators as they might occur when the asset is already oversold and due for a rebound.

Traders will be watching closely to see if the current rebound can turn into a sustained rally in the coming days. An overall recovery in the crypto market would also help SHIB's price rise in the short run. #Shiba Inu (SHIB) News

🐶 At Shiba Inu Price of $0.00001520, Here’s How Much $1,000 Could Turn Into if SHIB Repeats History

This analysis explores how much $1,000 invested in Shiba Inu at $0.00001520 could grow if the token replicates its past 884,400% surge.

In the last 24 hours, Shiba Inu dipped to the $0.000014 level after an initial attempt to break into the $0.000016 region. The dip worsened Shiba Inu’s monthly performance, with a 26% loss. Meanwhile, SHIB is gradually recovering, trading at $0.00001520 at press time.

While Shiba Inu’s recent performance has been unimpressive, many are still hopeful due to its historical performance. This optimism stems from the fact that Shiba Inu was one of the best-performing tokens of the last cycle. It experienced a staggering 150 million percent gain from its low point.

In light of this, The Crypto Basic explores the potential worth of $1,000 invested in Shiba Inu today, assuming the asset successfully replicates its past performance.

🐶 Shiba Inu Historical Performance

Notably, Shiba Inu launched three months after Bitcoin’s 2020 halving with a modest price of $0.00000001 and minimal trading activity during Bitcoin’s late 2020 surge. However, on January 31, 2021, it gained attention, recording $5.7 million in trading volume. From then on, its trading volumes consistently hit million-dollar thresholds.

As Bitcoin peaked at $64,000 in April 2021, Shiba Inu rose to $0.00000417. By October 2021, it reached $0.00008845, marking an incredible 884,400% increase from the start of the year. Meanwhile, Bitcoin set a new all-time high of $68,789 in November.

In the current cycle, Bitcoin initially reached a peak of $73,750 in March 2024, and Shiba Inu rallied to a four-year high of $0.000045.

However, as Bitcoin has risen to the $100K level, reaching peaks near $110K, Shiba Inu’s performance has not mirrored Bitcoin’s. In fact, Shiba Inu has yet to regain the $0.000045 it reached in March 2024.