Shiba Inu (SHIB) Price at Crossroads as 90% of Investors Fall Into Loss Positions

Shiba Inu (SHIB) price rebound mission has suffered a major setback this week after another 10% drop on Wednesday. With panicking investors moving coins away from the memecoin market, is SHIB set for a more bearish outlook in the coming weeks?

Timeline of Shiba-inu

Shytoshi Kusama, the pseudonymous lead developer of Shiba Inu ecosystem has teased a a new “physical” product may be launching soon. This doesn't come as a surprise to many SHIB community members as Kusama had previously promised to provide “many updates” in addition to information about the official launch of Shibarium.

Introduction This report provides a comprehensive analysis of Shiba Inu's (SHIB) price dynamics on Binance, covering technical indicators, moving averages, and pivot points. Price and Volume Overview As of 12:47 p.m. UTC on 14 June 2023, on Binance, the price of SHIB is $0.00000691, which is an increase of $0.00000013 (+1.92%) from the previous close.

The second largest memecoin by market cap, Shiba Inu has been making waves in the crypto world with recent news highlighting both community engagement and a high-profile supporter. There have been two significant developments after the release of its Rocket Pond trailer and metaverse updates: Welly's announcement of new fully connected stores and US politician

The native test network of Shiba Inu's layer-2 Shibarium, fondly called Puppynet, has recorded an impressive tally of over 20 million transactions, emanating from an estimated 16 million wallets. This notable achievement signals the network's steady march towards a broader release slated for the forthcoming months.

A mysterious Shiba Inu ($SHIB) whale has quietly amassed a significant amount of the meme-inspired cryptocurrency in a series of transactions that lasted several hours, and prompted speculation and intrigue among observers on-chain.

The bustling realm of cryptocurrencies is abuzz with a major development centered around Shiba Inu (SHIB). This news broke as Lookonchain, an on-chain analyst platform, reported a transaction involving a significant accumulation of Shiba Inu tokens by a major holder.

Shiba Inu (SHIB), a meme-inspired cryptocurrency, is currently experiencing a significant slump, dropping to a crucial price level that has prompted a sharp decline in the asset's profitability. In fact, about 93% of its holders are now grappling with losses, underlining the dire state of affairs for SHIB at this point in time.

The Shiba Inu ecosystem's testnet, Puppynet, part of the Shibarium network, has recently achieved an impressive milestone. It has successfully processed over 20 million transactions, a feat accomplished with the participation of 16 million wallets.

According to the prominent crypto tracker Whale Alert, slightly more than two hours ago, a massive amount of SHIB – 3,821,233,843,288 meme coins – were transferred between unknown wallets.

In a motivational post on his Twitter account, the celebrated British fashion designer, John Richmond, ignited excitement about the beloved meme-coin Shiba Inu (SHIB). Richmond praised the force behind Shiba Inu, emphasizing how it can infuse limitless vigor into one's week and fuel the realization of dreams, contributing to a world brimming with optimism.