Shiba Inu ($SHIB) Crypto Forecast: Down 5.1% Today

What is Shiba Inu?

SHIB, the meme cryptocurrency token Shiba Inu, experienced a significant bearish movement in the market today amidst a flurry of news and speculation.

Why is Shiba Inu going down?

SHIB crypto is down 5.1% on Dec 15, 2024 7:42

• The surge in SHIB burn rate by 515.33% could have led to increased selling pressure as investors may have been concerned about the token's future supply and value.
• The overall bearish sentiment in meme cryptocurrencies, as seen with Dogecoin's 19% decline despite Bitcoin's rebound, could have contributed to SHIB's downward movement.
• The anticipation of a 130% surge in SHIB price due to bullish patterns marked by higher highs may have created a speculative environment, leading to profit-taking and subsequent price decline.
• The questions raised about SHIB's coin burn rate potentially hinting at a price crash could have further fueled market uncertainty and triggered a sell-off among investors.

SHIB Price Chart

SHIB Technical Analysis

SHIB News

Shiba Inu Burn Rate Skyrockets 515.33% - Will The Price Increase?

The burn rate of the meme cryptocurrency, Shiba Inu SHIB/USD, has surged by a whopping 515.33%. This data comes from the widely used transaction tracker Shibburn. What Happened: The Shibburn data shows there has been a significant rise in SHIB transfers to dead-end wallets.

https://www.benzinga.com/markets/cryptocurrency/24/12/42497241/shiba-inu-burn-rate-skyrockets-515-33-will-the-price-increase

Dogecoin Down 19% Since Hitting 3-Year High-Despite Bitcoin Rebound

Even with Bitcoin up on the week, Dogecoin is the biggest loser in the top 10 cryptocurrencies-and other meme coins are down bad too.

https://decrypt.co/296618/dogecoin-down-since-3-year-high-bitcoin-rebound

Shiba Inu Price Ready For 130% Surge With Bullish Patterns Marked By Higher Highs

Shiba Inu Price Ready For 130% Surge With Bullish Patterns Marked By Higher Highs

https://www.newsbtc.com/shiba-inu/shiba-inu-price-ready-for-130/

Is Shiba Inu Coin Burn Rate Hinting At SHIB Price Crash?

Is Shiba Inu Coin Burn Rate Hinting At SHIB Price Crash?

https://coingape.com/is-shiba-inu-coin-burn-rate-hinting-at-shib-price-crash/

Just 1.9 Trillion SHIB in 24 Hours: What's Really Happening?

Just 1.9 Trillion SHIB in 24 Hours: What's Really Happening?

https://u.today/just-19-trillion-shib-in-24-hours-whats-really-happening

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Shiba Inu Price History

13.11.2024 - SHIB Crypto was down 5.2%

• Despite positive trends identified by analysts and a rebound in price towards $0.00003, Shiba Inu experienced a strong bearish movement today.
• The price prediction of SHIB reaching $0.00004000 and the significant amount of SHIB leaving exchanges could not prevent the bearish trend.
• The mysterious Shiba Inu whale, Shibtoshi, turning 37 ETH into $5 billion with SHIB might have initially boosted confidence but was not enough to sustain the bullish momentum.
• The overall market sentiment and profit-taking behavior by traders could have contributed to the bearish movement of Shiba Inu today, despite some positive indicators.

13.11.2024 - SHIB Crypto was down 5.5%

• Despite positive trends identified by analysts, SHIB experienced a strong bearish movement recently.
• The rebound in SHIB price towards $0.00003, taking a significant portion of all holders back into the green, might have been a short-lived recovery.
• The fate of Dogecoin, closely tied to Bitcoin according to industry experts, could have influenced market sentiment towards meme-based tokens like SHIB.
• The involvement of a crypto whale who made profits trading meme coins like SHIB and DOGE in a new project, 1Fuel, could have diverted attention and investment away from SHIB, contributing to its bearish movement.

12.11.2024 - SHIB Crypto was up 6.8%

• SHIB saw a notable increase of 133% in its price movement today.
• The token is currently testing a crucial support level, potentially signaling consolidation or further upward movement.
• The positive sentiment towards SHIB aligns with the overall market excitement, with tokens such as XRP also experiencing notable price fluctuations.
• The buzz surrounding new exchange listings and the emergence of other meme tokens like Peanut The Squirrel and Popcat may have also influenced SHIB's bullish trend.

11.11.2024 - SHIB Crypto was up 13.8%

• Despite challenges faced by the memecoin market, SHIB demonstrated a strong bullish movement.
• The burning of 17 million SHIB tokens likely contributed to positive sentiment and speculation of considerable growth potential for SHIB.
• The recent surge in Dogecoin's value and optimistic forecasts may have had a favorable impact on SHIB's price, given the tokens' association in the meme coin category.
• SHIB's resilience in a tough market environment, reflecting an overall positive sentiment in the crypto market, likely fueled its bullish momentum.

11.11.2024 - SHIB Crypto was up 14.2%

• The burning of 17 million SHIB tokens could have created scarcity, driving up demand and pushing the price higher.
• Positive sentiment around SHIB's resilience in a challenging market environment could have attracted more traders to invest in the token.
• The release of a new token airdrop within the Shiba Inu ecosystem could have generated excitement and interest, contributing to the bullish movement.
• Overall, the combination of burning tokens, positive market sentiment, and upcoming developments within the Shiba Inu community likely fueled the strong bullish movement of SHIB today.

12.11.2024 - SHIB Crypto was up 8.7%

• SHIB surged over 10% in the last 24 hours, outperforming other meme coins like Dogecoin.
• Analysts are predicting a potential 180% upside for SHIB, fueling investor optimism and attracting more buyers.
• Despite some concerns about testing a key support level, SHIB managed to rise by 133%, showcasing strong bullish momentum.
• Speculation and price predictions, including the idea of SHIB reaching $1, are contributing to the hype surrounding Shiba Inu and driving further gains in the token's value.

11.11.2024 - SHIB Crypto was up 6.2%

• SHIB demonstrated significant bullish momentum, potentially spurred by a price rebound.
• Expert speculation on SHIB potentially reaching $0.01 may have boosted investor confidence and interest.
• The divergence in performance between Dogecoin (DOGE) and SHIB, with DOGE declining while SHIB surged, could have shifted focus and investments to SHIB.
• Positive market sentiment and price increases in other cryptocurrencies like XDC and ONDO may have also played a role in SHIB's upward movement.

11.11.2024 - SHIB Crypto was up 7.5%

• SHIB experienced a strong bullish movement today, possibly fueled by the overall positive sentiment in the meme coin sector.
• Exchange listings and the approval of stablecoins for other cryptocurrencies like XRP may have contributed to the bullish momentum of SHIB.
• Despite the bullish movement of SHIB, it's essential to note that meme coins like DOGE and SHIB also faced double-digit losses, indicating the inherent volatility and risk associated with these assets.
• The frenzy surrounding meme coins and the attention they are receiving in the market could have played a role in SHIB's bullish movement, as investors seek high-risk, high-reward opportunities in the cryptocurrency space.

11.11.2024 - SHIB Crypto was up 12.0%

• Today, SHIB showed a bullish trend, possibly influenced by positive updates related to the SHIFU Coin airdrop, shared by a Shiba Inu executive.
• The positive sentiment in the cryptocurrency market could have also played a role in SHIB's rebound, demonstrated by the price movements of tokens like XDC and ONDO.
• The successful presale of Wall Street Pepe ($WEPE), which raised over $4M, might have had a positive impact on the overall crypto market sentiment, benefiting tokens such as SHIB.
• Traders are encouraged to monitor key price levels for SHIB, as these levels could indicate potential support or resistance zones in the coming days.

12.11.2024 - SHIB Crypto was up 9.1%

• SHIB witnessed a notable surge today, likely influenced by the positive overall market sentiment in the realm of cryptocurrencies.
• Speculative price forecasts and optimistic views on the token could have spurred heightened investor interest and purchasing behavior regarding SHIB.
• Reports of SHIB's successful test of a crucial support level and subsequent substantial ascent further bolstered trader confidence in a positive market trajectory.
• Despite XRP's price surge following Ripple's approval for RLUSD stablecoin, which briefly diverted focus, SHIB attracted attention through its remarkable 133% increase, emphasizing its ability to endure market fluctuations and attractiveness to potential investors.

14.11.2024 - SHIB Crypto was down 5.0%

• The bearish movement in SHIB today could be attributed to concerns about the coin burn rate hinting at a price crash. Investors might be reacting to the potential negative impact on the token's value.
• Despite bullish patterns indicating a possible surge, the market sentiment might have shifted due to uncertainty surrounding the coin burn rate.
• Conflicting news about the coin burn rate could have caused confusion among investors, leading to a sell-off and contributing to the bearish movement in SHIB today.
• The overall market sentiment towards meme coins, as indicated by the performance of Dogecoin, could have also influenced the bearish movement in SHIB, especially if investors are moving away from meme coins in favor of more established cryptocurrencies.

15.11.2024 - SHIB Crypto was down 5.1%

• The surge in SHIB burn rate by 515.33% could have led to increased selling pressure as investors may have been concerned about the token's future supply and value.
• The overall bearish sentiment in meme cryptocurrencies, as seen with Dogecoin's 19% decline despite Bitcoin's rebound, could have contributed to SHIB's downward movement.
• The anticipation of a 130% surge in SHIB price due to bullish patterns marked by higher highs may have created a speculative environment, leading to profit-taking and subsequent price decline.
• The questions raised about SHIB's coin burn rate potentially hinting at a price crash could have further fueled market uncertainty and triggered a sell-off among investors.