Here's Why Shiba Inu Coin Sees A 10% Jump in Near Future

In the recent sell-off in the crypto market, the Shiba Inu coin price tried to escape the ongoing consolidation with the breakdown of $0.0000082 support. However, the buyers actively defended this range support and reverted the price higher immediately.

Timeline of Shiba-inu

Shiba Inu, one of the largest altcoin projects in the cryptocurrency market with a loyal community of $SHIB holders backing it, has been rolling out multiple developments since it was first launched; from non-fungible token (NFT) collections to decentralised exchanges like ShibaSwap, the SHIB army has been patiently waiting for the release of Shibarium.

The now-bankrupt cryptocurrency exchange FTX undoubtedly had a significant impact on the Shiba Inu (SHIB) coin. With a market capitalization of a little below $5 billion, SHIB is the 16th largest cryptocurrency today.

According to latest news surrounding the Shiba Inu Coin (SHIB), the amount of SHIB burned in the past 1 hour has led to a massive decline in the token's circulating supply. Additionally, the total amount burned during the last 24 hours has surpassed the amount of tokens burned the day before.

The past few days have seen a decline in the price of crypto assets such as Shiba Inu (SHIB), with inflation and other macroeconomic factors in play, as other cryptocurrencies registered gains. Related Reading: Stablecoins Flow Into Spot Exchanges, Fuel For Christmas Bitcoin Rally?

Shiba Inu (SHIB) price today fell to $0.00000805, the lowest price recorded since June. The FUD in the crypto market and Shiba Inu whales continuously selling their SHIB holdings are the factors behind the recent drop in SHIB price.

An anonymous Shiba Inu (SHIB) whale is suddenly moving over a trillion SHIB in a single massive transaction. According to new data from whale-surveying platform Whale Alert, a deep-pocketed trader abruptly shifted a staggering 2.6 trillion tokens worth about $23 million at time of writing from one unknown crypto wallet to another.

Among the many new developments happening in the Shiba Inu ecosystem, the motorsport P2E racing game and its corresponding NFTs from the Shiba Racing Team have just been announced. Shiba Racing Team or SRT in shot, is a modern racing NFT initiative that draws inspiration from both Formula 1 racing sport and the Shiba Inu The post Breaking: Shiba Racing NFT Launch; All About SHIB Metaverse P2E Game appeared first on CoinGape.

The rate at which tokens of the meme-inspired cryptocurrency Shiba Inu ($SHIB) are being burned has surged by over 150% to reach 5.1 million SHIB in just 24 hours, at a time in which the number of users in the SHIBArmy has kept on growing.

Shiba Inu's [SHIB] weak market could give sellers leverage to push the price lower. At the time of publication, the meme coin was trading at $0.00000888, down 2% in the past 24 hours.

Shiba Inu (SHIB) price tumbled over 3% in the last 24 hours, with the current price trading at $0.000008894. On-chain data indicates a big whale dumped over 210 billion SHIB tokens, causing the price to fall over 3% in the last 24 hours.