{"id":22306,"date":"2024-11-21T09:42:13","date_gmt":"2024-11-21T09:42:13","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=22306"},"modified":"2024-11-21T09:42:13","modified_gmt":"2024-11-21T09:42:13","slug":"shiba-inu-shib-could-pump-by-over-50-if-it-surpasses-this-major-resistance-level-analyst","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=22306","title":{"rendered":"Shiba Inu (SHIB) Could Pump by Over 50% if It Surpasses This Major Resistance Level (Analyst)"},"content":{"rendered":"

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

Shiba Inu (SHIB) may see a solid price jump if it clears the $0.000025 resistance.<\/span>
\nThe burning mechanism could also push the valuation up. The destroyed tokens in the last 24 hours equal over 11.5 million.<\/p>\n

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

New Rally Under This Condition?<\/span><\/h2>\n

As CryptoPotato<\/em> <\/span>reported<\/span><\/a> earlier, the meme coin sector has suffered a substantial pullback, with numerous tokens nosediving by double digits on a 24-hour scale. The second-largest <\/span>in terms of<\/span> market cap \u2013 Shiba Inu (SHIB) \u2013 has also underperformed, albeit registering more mild losses than PEPE, PNUT, BONK, and others.<\/span><\/p>\n

Currently, the self-proclaimed Dogecoin killer is worth around $0.00002406, representing a 2% daily decline and an 8% weekly drop.\u00a0<\/span><\/p>\n

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

Some analysts<\/span>, though,<\/span> believe it may soon pump again if certain vital factors are in place.<\/span> The <\/span>popular<\/span> X user Ali Martinez <\/span>thinks<\/span><\/a> SHIB could experience a 50% price increase if it surpasses the $0.000025 resistance. Currently, the valuation is only 3% away from reaching the depicted mark.\u00a0<\/span><\/p>\n

Prior to<\/span> that, the analyst <\/span>claimed<\/span><\/a> that <\/span>almost 1.7 trillion SHIB tokens had been withdrawn<\/span> from exchanges on a 24-hour scale. \u201cThe last time we saw a similar spike, Shiba Inu surged 62% in price,\u201d he added.<\/span><\/p>\n

The move might indicate a shift from centralized platforms toward self-custody methods. <\/span>This<\/span> could be interpreted as a bullish signal <\/span>since it reduces the immediate selling pressure<\/span>.<\/span><\/p>\n

Earlier this month, X user Zack Humphries made<\/a> an even more optimistic SHIB prediction. He outlined several factors that could push the price to a new all-time high. Some of those include rising interest from retail investors and the further advancement of Shiba Inu\u2019s layer-2 scaling solution, Shibarium.<\/span><\/p>\n

The protocol has been <\/span>on a tear<\/span> lately, <\/span>hitting<\/span><\/a> the massive milestone of 500 million processed transactions. For its part, the number of total blocks is inching closer to 8 million. For more updates on the ecosystem, check out our\u00a0<\/span>Shibarium news page<\/span><\/a>.<\/span><\/p>\n

Burning on the Rise Again<\/span><\/h2>\n

One <\/span>important<\/span> element suggesting that SHIB\u2019s price may <\/span>indeed<\/span> head north in the short term is the resurgence of the meme coin\u2019s burning program.<\/span> The burn rate <\/span>is up<\/span> over 200% in the past 24 hours, resulting<\/a> in more than 11.5 million tokens <\/span>destroyed<\/span>.<\/span>\u00a0<\/span><\/p>\n

The mechanism\u2019s ultimate goal is to reduce the tremendous circulating supply of SHIB, potentially making it more valuable via scarcity. Since adopting the program, the team and the community have sent approximately 410.7 trillion tokens to a null address, leaving 583.7 trillion in circulation.<\/span><\/p>\n

The post Shiba Inu (SHIB) Could Pump by Over 50% if It Surpasses This Major Resistance Level (Analyst)<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

TL;DR Shiba Inu (SHIB) may see a solid price jump if it clears the $0.000025 resistance. The burning mechanism could also push the valuation up. The destroyed tokens in the last 24 hours equal over 11.5 million. New Rally Under This Condition? As CryptoPotato reported earlier, the meme coin sector has suffered a substantial pullback, […]<\/p>\n","protected":false},"author":0,"featured_media":22307,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-22306","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\/22306"}],"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=22306"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/22306\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/22307"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=22306"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=22306"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=22306"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}