SHIB Army Remains Positive as Memecoin Social Sentiment Index Remains Positive

Despite the negative sentiment in crypto markets after the FTX collapse, many traders flock to memecoin Shiba Inu (SHIB). The post SHIB Army Remains Positive as Memecoin Social Sentiment Index Remains Positive appeared first on BeInCrypto.

Timeline of Shiba-inu

Shiba Inu price prediction remains bullish above $0.0000088 as it has closed Doji and spinning top candles above this level. Most of the bullish trend has been caused by an increase in Shiba Inu trades that has topped $1 billion.

Shiba Inu's NFT ecosystem witnessed growth last week A few metrics suggested that a trend reversal can be expected soon  Shiba Inu's ‘SHIB the Metaverse' recently unveiled its new concept art, named Dunes. After several weeks, a new update was revealed which looked promising for the much-awaited metaverse project.

While the crypto market has been severely affected by the recent collapse of famous crypto exchange giant FTX, the SHIB community continues to broader its adoption due to a potential announcement from the SHIB's team regarding its collectable card game (CCG) ‘Shiba Eternity' and upcoming layer-2 blockchain solution ‘Shibarium'.

Shiba Inu (SHIB) and XRP have shown strength in the present recovery in the market. The crypto market decline had been triggered by the FTX collapse, and even now, the negative effects are still being felt all across the space.

Although higher market volatility has changed the investors' sentiment, it didn't stop the global crypto-centric developments. For example, Dubai, which showed keen interest in cryptocurrency and web 3 technology, is again on the news cycle for being a rapidly growing crypto hub.

Shiba Inu has been high on the Ethereum whales' shopping list despite the SHIB price action looking mostly barren as of late. The post A Year-End Shiba Inu (SHIB) Price Rally Might Be on the Horizon appeared first on BeInCrypto.

Shiba Inu (CRYPTO: SHIB) suffered some volatility during Monday's 24-hour trading session, whipsawing up and down between $0.00000854 and $0.0000094. The volatility was instigated by Binance CEO and founder Changpeng "CZ" Zhao, who took to Twitter to try and calm investor fears over the liquidity crisis caused by the decimation of Sam Bankman-Fried's FTX trading platform last week.

Crypto.com revealed that it holds 22.91% of its reserves in the Shiba Inu (SHIB/USD) cryptocurrency. W Dubai – The Palm, a five-star hotel, allows guests to pay for accommodation in the SHIB cryptocurrency.  Shiba Inu is one of the most popular meme-cryptocurrencies, originally inspired by Dogecoin (DOGE/USD).

SHIB falls to an all-year low amid market subsidies and exchanges public revelation Price indicators reveal it might be much more difficult for the meme to revive in the short term In a bid to resist the downturn caused by the turmoil in the market, Shiba Inu [SHIB] hit its lowest price of 2022.

Kris Marszalek, CEO of cryptocurrency exchange, Crypto.com, tweeted on Friday that the company is working with Nansen to create a simple dashboard to show “a full audited proof of reserve.” Nansen tracked all wallets related to Crypto.com to show this dashboard view of the Crypto.com reserve.