Shiba Inu Holders Increase Amid Market Crash, But There's A Catch

The number of entities holding popular memecoin Shiba Inu (SHIB) hit record highs during the recent crypto crash, as prices dropped to attractive levels. But the token also saw its whale holders fall drastically, a sign that the largest crypto holders may be losing faith in the memecoin.

Timeline of Shiba-inu

The year 2020 was a great year for meme coins and a lot of new crypto millionaires were made, mostly those that invested in the SHIBA INU token. So far, the proclaimed DOGECOIN killer has matured into a stable and reliable project with practical use cases.

Shiba Inu price research analysis shows that the altcoin is still in a downturn, as Shib-bulls struggle to build the necessary momentum for a turnaround. As a result, the altcoin is anticipated to continue the downward trend in the coming days. However, as market volatility decreases, the resistance and support levels move closer together, making …

Today's Shiba Inu price analysis displays a bearish movement in the market, and the market moves towards a negative direction, declining the price of SHIB significantly. After that, however, the cost of SHIB experienced a spike and increased to $0.00001420, from $0.00001060; on May 13, 2022, SHIB/USD lost momentum and obtained a massive decreasing movement.

BTC/USD Long positions on Bitfinex skyrocketed in the past couple of days and encouraged traders to believe that the local bottom was in for Bitcoin. BTC did indeed bounce from $28.8k to $30.8k but fell once more to trade at $29.3k at press time.

Cryptocurrency markets were mostly in the green on Friday, as DOT was up by nearly 40%, moving away from an 18-month low. Although SOL, AVAX, and MATIC all rose by over 20%, it was SHIB that was one of the standout gainers in today's session. Polkadot (DOT) DOT was one of today's biggest gainers, as

Shiba Inu price analysis for today is bearish as the market has failed to break out of the descending triangle pattern. The $0.00002764 resistance is still in play and if the market fails to break out of it, we could see a further decline towards the $0.00000917 support.

Shiba Inu price has dropped down to levels that were last seen in late September 2021 before the altcoin began its well-known exponential run-up to new highs. This massive crash comes at a time when the entire market is plagued with fear and where investors are panic selling their holdings in a frenzy.

The Shiba Inu ecosystem has been consistent with its updates as developers have been working hard at it. According to the official Shiba Inu blog post, the primary financial components, Shibarium, SHI and SHIBFE, are underway and shall be soon completed.

The Shiba Inu ($SHIB) community could soon have a token donation portal to complement its token burn portal in a bid to help burn tokens and decrease the cryptocurrency's circulating supply. During an interview with Gfinity Esports Trophias, a Shiba Defence Breed member who has called for a donations portal on Shiba Inu's Discord server

Today's Shiba Inu price analysis displays a bearish movement in the market, and the market moves towards a negative direction, declining the price of SHIB significantly. After that, however, the cost of SHIB experienced a crash and decreased to $0.00001122, from $0.00001667; on May 11, 2022, SHIB/USD lost further momentum and obtained a massive decreasing.