{"id":14821,"date":"2024-10-18T13:27:21","date_gmt":"2024-10-18T13:27:21","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=14821"},"modified":"2024-10-18T13:27:21","modified_gmt":"2024-10-18T13:27:21","slug":"3-warning-signs-for-the-shiba-inu-shib-price-to-watch","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=14821","title":{"rendered":"3 Warning Signs for the Shiba Inu (SHIB) Price to Watch"},"content":{"rendered":"

TL;DR<\/strong><\/p>\n

Shiba Inu (SHIB) has experienced a notable price increase recently, but stagnation in Shibarium\u2019s advancement and other factors indicate a potential downward pressure.
\nDespite these warning signals, some analysts remain highly optimistic, outlining bold predictions that SHIB\u2019s market cap could reach extreme levels.<\/p>\n

<\/a><\/span><\/h2>\n

SHIB\u2019s Rally About to End?<\/h2>\n

Shiba Inu (SHIB) has enjoyed a solid resurgence in the past month, <\/span>with its price pumping<\/span> by over 40%. <\/span>Currently,<\/span> it trades at around $0.00001865 (per CoinGecko\u2019s data), <\/span>which represents<\/span> a 5% daily increase.<\/span>\u00a0<\/span><\/p>\n

<\/a>SHIB Price, Source: CoinGecko<\/p>\n

Some factors <\/span>that may have contributed<\/span> to SHIB\u2019s rally include the overall revival of the cryptocurrency market (where Bitcoin (BTC) briefly soared above $68K) and the upswing of the entire meme coin niche.\u00a0<\/span><\/p>\n

However, some elements suggest that the near future may offer some pain for the Shiba Inu bulls. <\/span>The first component is the SHIB exchange <\/span>netflow<\/span> which has been on the rise in the last few days. This <\/span>suggests<\/span><\/a> a shift from self-custody methods toward centralized platforms, which in turn<\/span>, <\/span>increases the immediate selling pressure.<\/span><\/p>\n

Next on the list is Shibarium\u2019s stalled progress. Daily transactions on the layer-2 blockchain solution have been <\/span>hovering<\/span><\/a> below 10,000 since the beginning of the month, representing just a fraction of the figure recorded at the start of the year, when new transactions were in the millions.\u00a0<\/span><\/p>\n

Shibarium <\/span>is designed<\/span> to foster the development of the Shiba Inu ecosystem by improving speed and enhancing scalability. As such, its underperformance may lead to waning investor interest and a consecutive price pullback. For more updates on the ecosystem, check out our\u00a0Shibarium news<\/a>.<\/span><\/p>\n

Last but not least, we will focus on SHIB\u2019s burning mechanism. The burn rate is <\/span>down<\/span><\/a> approximately 36% today (October 18), with only 5.7 million tokens sent to a null address. <\/span><\/p>\n

The program\u2019s ultimate goal is to reduce the circulating supply of the meme coin, making it scarcer and potentially more valuable in time (should demand <\/span>remains constant or goes<\/span> up). Conversely, when fewer tokens <\/span>get<\/span> burned the supply remains high which could hinder SHIB\u2019s price growth.<\/span><\/p>\n

Wild SHIB Price Predictions<\/span><\/h2>\n

Contrary to the <\/span>aforementioned factors<\/span> hinting at a potential pullback, some market observers expect SHIB to chart further gains <\/span>in the future<\/span>.\u00a0<\/span><\/p>\n

Earlier this week, content creator Jake Gagain <\/span>promised<\/span><\/a> to delete his X account if the meme coin\u2019s market capitalization does not reach $100 billion. <\/span>As of now<\/span>, the forecast seems quite unlikely, considering that the figure needs to pump almost ten-fold to tap <\/span>such a level.<\/span><\/p>\n

Davinci Jeremie was even more bullish. <\/span>He <\/span>envisioned<\/span><\/a> an overall explosion of the meme coin niche, predicting its market cap could hit <\/span>the<\/span> ridiculous $1 trillion mark <\/span>this cycle<\/span>.<\/span> Currently, the sector\u2019s capitalization is <\/span>standing at<\/span> around $60 billion, or 6% of the depicted target.\u00a0<\/span><\/p>\n

The post 3 Warning Signs for the Shiba Inu (SHIB) Price to Watch<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

TL;DR Shiba Inu (SHIB) has experienced a notable price increase recently, but stagnation in Shibarium\u2019s advancement and other factors indicate a potential downward pressure. Despite these warning signals, some analysts remain highly optimistic, outlining bold predictions that SHIB\u2019s market cap could reach extreme levels. SHIB\u2019s Rally About to End? Shiba Inu (SHIB) has enjoyed a […]<\/p>\n","protected":false},"author":0,"featured_media":14822,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-14821","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/14821"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=14821"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/14821\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/14822"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=14821"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=14821"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=14821"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}