Shiba Inu's Burn Rate Surges by 22604%, Forecasting a 15% Price Increase?
Hop On the Shiba Inu Rollercoaster: A Quick Ride Through the Memecoin's March and Short-Term Predictions
The memecoin scene has been a wild ride, and Shiba Inu (SHIB) is no exception. After a 2.38% market-wide correction, SHIB has taken a nose dive, tumbling by 7% over the past week. But fear not, fellow meme-coin enthusiasts! There might be a silver lining on this cloud - and it comes with a strong bullish revival on the horizon.
Resembling a phoenix rising from the ashes, the Shiba Inu network has seen an astounding 22,604% surge in its burn rate over the last 24 hours. Approximately 25.77 million SHIB tokens have been torched, heading straight for dead wallets. It's quite the spectacle, don't you think? Now, let's talk about the icing on the cake: the new Shiba Inu self-custodial crypto payment system. This baby promises to reduce costs, speed up transactions, and give its users complete control - all the makings of a market-dominating powerhouse!
Now, you may be wondering what this means for ol' SHIB's price. Well, buckle up, because we're diving into the technical nitty-gritty to unravel the future.
As it stands, SHIB has dropped 2.16% over the past day, with a trading volume of $106.21 million and a listing value of $0.00001324. With a market cap of $7.81 billion, SHIB is currently trading at a staggering 85% discount from its all-time high (ATH) of $0.00001368.
The 50-day EMA serves as the support for SHIB's price chart in the daily time-frame, while the Moving Average Convergence Divergence (MACD) indicates a bearish convergence as the green histogram continually declines. However, the stage may soon be set for a price reversal: bullish sentiment has the potential to push SHIB towards its resistance level of $0.00001525, and if it manages to maintain that level, it could head towards its upper resistance level of $0.000020.
But, on the flip side, uncertainty and rising liquidation could potentially drag SHIB down to its crucial support trendline of $0.00001025 before the month is over. So, let's keep our fingers crossed and our eyes glued to the crypto-sphere.
Want more detailed insights? Check out our breakdown on Shiba Inu Price Prediction 2025: How High Will SHIB Rise?
References:
[1] CryptoPotato. (2022). Shiba Inu Price Prediction 2025: Will SHIB Break ATH Again? Retrieved from https://cryptopotato.com/shiba-inu-price-prediction-2025-will-shib-break-ath-again/[2] NewsBTC. (2022). Shiba Inu Price Analysis September 22: How Low Can SHIB Go? Retrieved from https://www.newsbtc.com/analysis/2022/09/22/shiba-inu-price-analysis-september-22-shib-lost-4-will-it-bounce-back-or-fall-lower/[3] CoinQuora. (2022). Why SHIB Has Failed to Maintain Recovery After Coinbase Listing. Retrieved from https://coinquora.com/why-shib-has-failed-to-maintain-recovery-after-coinbase-listing/[4] Coinpedia. (2022). Shiba Inu (SHIB) Price Prediction for Next 10 Years: Expecting MOON Or Dump? Retrieved from https://coinpedia.org/shib/shiba-inu-shib-price-prediction/[5] TradingBeasts. (2023). Shiba Inu Price Prediction 2023–2025. Retrieved from https://tradingbeasts.com/prediction/shiba-inu-price-prediction/shiba-inu-forecast[6] FX Empire. (2023). Shiba Inu (SHIB) Price Prediction: What Shiba Inu Can Hope To Achieve In 2023. Retrieved from https://www.fxempire.com/forecast/shiba-inu-price-prediction-shiba-inu-shib-will-attempt-to-bounce-back-in-2023/28462/article48245
- By 2025, the average finance enthusiast may be intrigued by the potential price prediction of Shiba Inu (SHIB), a memecoin, as various sources suggest it could aim for its upper resistance level of $0.000020.
- Investors should keep in mind that Shiba Inu's price volatility could potentially drag the memecoin down to its crucial support trendline of $0.00001025 before 2025, highlighting the importance of remaining vigilant in the finance world.
- The upcoming Shiba Inu self-custodial crypto payment system might play a crucial role in determining the average price of SHIB throughout 2025, as it promises to reduce costs, speed up transactions, and provide users with complete control.
- As we navigate the complex landscape of finance and investing, it's important to remember that predictions are only speculative, and actual values in 2025 could deviate significantly from estimates, as shown by the 85% discount that SHIB currently trades at compared to its all-time high.
