Tag: Shiba Inu (Shib)

Crypto Price Analysis Feb-11: Ethereum, Ripple, Cardano, Solana and Shiba Inu

by CryptoPotato

This week, we take a closer look at Ethereum, Ripple, Cardano, Solana, and Shiba Inu.

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Ethereum (ETH)

ETH failed to push above $3,200 this week and fell back on the $3,000 support level yesterday, where the price is now consolidating. Despite this most recent pullback, the cryptocurrency had a stellar performance this week, with a 16% price increase in the past seven days.

The big question is if ETH can hold above $3,000. If it manages to do so, then bulls might be in a position for another shot at the $3,200 resistance in the coming week. If they fail, however, the cryptocurrency could fall to the next support level at $2,800, which would make it lose a critical psychological level ($3,000).

Looking ahead, the indicators remain bullish, which gives reasons to be optimistic. Buyers need to defend the $3,000 level. Otherwise, sellers may take over the price action in the coming week.

ETHUSD_2022-02-11_11-11-14
Chart by TradingView

Ripple (XRP)

XRP had a major breakout this week, with the price moving above the key resistance at $0.70 and quickly reaching $0.90 after that. Overall, it was a fantastic week for XRP with a 34% price increase.

However, it failed to push above $0.90 and is now found in a correction with support at $0.80. This is not surprising, considering the massive rally that happened not too long ago. If $0.80 fails, then XRP may fall all the way back on the $0.70 level, which is now acting as support (was resistance before the breakout).

The indicators are still bullish for XRP, and this pullback can also be explained by the daily RSI, which briefly entered overbought conditions during the rally and now fell back below 70 points. Once this correction is over, XRP may attempt a new rally to test the critical psychological level at $1.

XRPUSDT_2022-02-11_11-16-48
Chart by TradingView

Cardano (ADA)

ADA also had a good week, but the resistance at $1.2 did not allow it to move higher, and it has been struggling since then. Nevertheless, the cryptocurrency closes the last seven days in green with a nice 9% price increase.

Considering the ongoing correction, ADA may fall back on the key support at $1.1 before any renewed rally can be expected. Even if this happens, the overall price action remains bullish, and after the pullback, ADA may rally once more and try to cross above $1.2.

The indicators remain bullish and seem likely to stay if ADA does not fall under the key support. This should prepare it for a nice rally next week if the bullish momentum resumes. On the other hand, a drop under $1.1 would likely push ADA into a bearish trend.

ADAUSDT_2022-02-11_11-18-47
Chart by TradingView

Solana (SOL)

After a rally to $120, SOL failed to move higher, and since then, the price has been falling towards the key support at $100. It is unlikely for SOL to turn back right now, and a test of the key support appears probable. Despite the current correction, SOL still managed to close the past seven days in green with a 5% price increase.

Volume has been falling as price went higher last week, which was an early signal that SOL did not have the momentum to sustain the rally. The MACD remains bullish on the daily timeframe, but the histogram is showing a loss of momentum with lower highs.

Next week will be crucial for SOL, and buyers have to do their best to defend the $100 level. Any failure there will only embolden sellers to take SOL under $100, which would be a significant defeat.

SOLUSDT_2022-02-11_11-26-59
Chart by TradingView

Shiba Inu (SHIB)

SHIB has been the best performer from our list, with a 50% price increase in the past seven days after a major breakout from the descending channel (in blue on the chart). Now, the price is consolidating above the key support at $0.000029.

If this consolidation continues and the support level holds, then SHIB may chart another leg up, which could take it all the way to $0.000040. The indicators remain bullish for now, and the only concern is the decreasing volume, which may cast some doubts on the strength of this rally.

Looking ahead, SHIB has put an end to the downtrend and started a new surge with a bang. It is unlikely for SHIB to make a lower low considering this latest development. Therefore, the most probable scenario now seems to be a consolidation or continuation of the rally.

SHIBUSDT_2022-02-11_11-37-02
Chart by TradingView

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Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.




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Bitcoin Reclaims $44K: Shiba Inu Spikes 5% (Market Watch)

by CryptoPotato

Following yesterday’s brief retracement, bitcoin went on the offensive once more and touched $44,000. Most alternative coins are slightly in the green today as well, with ETH touching $3,200 and SHIB spiking by 5%.

BTC at $44K Again

It has been roughly a week since the largest cryptocurrency began its ascent. The asset struggled at $37,500 on February 4th, but the bulls stepped up and started to push it north.

Firstly, bitcoin broke above $40,000 before adding another grand in the following hours. After stalling there for a bit, BTC began adding more value once again. This time, it tapped a multi-week high of around $44,000 before surging to $45,500 for the first time since early January.

After several days of continuous gains, it was expected to some extent that there will be a slight retracement. It transpired yesterday when BTC dropped by a few thousand dollars to $42,500.

However, bitcoin reacted well to this price slide and has added more than $1,500 since then. As a result, it now stands above $44,000, and its market capitalization has neared $850 billion.




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BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

SHIB and Other Alts in Green

The alternative coins mimicked BTC’s performance to a large extent lately. As such, most corrected yesterday but have turned green today.

Ethereum slid below $3,100, but a 3.5% increase since then has driven the second-largest cryptocurrency to $3,200 now. Binance Coin, Ripple, Terra, and MATIC have marked similar gains, while Cardano, Solana, Polkadot, Avalanche, and Dogecoin have portrayed more modest increases.

Shiba Inu and CryptoCom’s native token are the most significant gainers as of now. Both are up by approximately 5%, with SHIB standing at $0.000033 and CRO trading above $0.5.

More price increases come from Secret (13%), Flow (13%), Kadena (10%), Harmony (9%), Arweave (8%), and NEO (8%).

The cryptocurrency market capitalization is up by around $40 billion since yesterday and is back above $2 trillion.

Cryptocurrency Market Overview. Source: Quantify Crypto
Cryptocurrency Market Overview. Source: Quantify Crypto

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Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.




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Shiba Inu Price Analysis: SHIB Attempts to Move Higher, Here is the Next Level to Watch

by CryptoPotato

After a short pullback, SHIB appears keen to move higher and challenge the next critical resistance at $0.000037.

Key Support level: $0.000029

Key Resistance levels: $0.000037

SHIB had seen a short-term spike as buyers were impatient following the descending channel’s breakout. Today’s bullish engulfing candle indicates that SHIB can continue higher and challenge the key resistance at $0.000037 very soon. On the other hand, the key support level at $0.000029 and was successfully tested yesterday.

SHIBUSDT_2022-02-09_15-32-00
Chart by TradingView

Technical Indicators

Trading Volume: After an impressive breakout, the volume has drastically decreased. This also reduced the bullish momentum, but SHIB remains short-term bullish.

RSI: The daily RSI appears ready to enter the overbought area. If SHIB moves to the key resistance, the RSI will likely become overbought. Best to be cautious when that happens.

MACD: The daily MACD expanded higher, which is a clear bullish signal. It’s important to watch how SHIB’s price action develops at the key resistance for any signs of weakness.

SHIBUSDT_2022-02-09_15-32-18
Chart by TradingView

Bias

The bias on SHIB is bullish.

Short-Term Prediction for SHIB Price

A retest of the key resistance at $0.000037 appears imminent considering the current price action. However, SHIB may see a sharp pullback following the parabolic run (with no major correction so far). This makes the risk-reward ratio less favorable for bulls, at this moment.

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Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.




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LEASH Skyrockets 40% as Shiba Inu Introduces Metaverse Real Estate

by CryptoPotato

LEASH is one of the ecosystem tokens of Shiba Inu (SHIB), and it is mooning today. This happens on the back of a recent announcement where the team behind the project introduced virtual real estate in their metaverse effort.

  • Earlier in January, CryptoPotato reported that Shiba Inu is to enter the metaverse space, but the team failed to disclose any further details at the time.

  • Now, one of the most popular cryptocurrencies on the planet is also introducing virtual real estate in the form of Shiba Lands.

These “lands” found inside our metaverse will be available for purchase/auction really soon, and it will be our first step towards allowing the community to jump into the metaverse prior to its full release! – Reads the announcement.

  • The official post also revealed that the team is working on a queue system that’s designed to prevent bots and gas wars, and it will allow exclusivity.

  • To do so, the system will require interested parties to hold the LEASH token, which in turn will give priority and exclusive access to “this first selling phase of land plots in our metaverse.”

  • Moreover, the team is also working on what they refer to as an “anti-dump system” designated to protect holders.

  • Once the exclusive selling process is finalized, the remaining lands will be unlocked and made available for the wider audience.

  • In light of the above, the price of LEASH has skyrocketed by 40% in the past 24 hours alone.

LEASHUSDT_2022-02-09_09-08-48
Chart by TradingView

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Top 100 SHIB Holders Control Over 25% of the Total Shiba Inu Supply

by CryptoPotato

Canine-themed tokens’ rally as Shiba Inu (SHIB) led the recovery on Monday. Amidst a renewed bullish momentum in the market, SHIB rose by more than 24%. Several other altcoins also posted decent surges as well, while Bitcoin (BTC) settled for a modest 3% over the past day.

Top 100 SHIB Holders

According to the latest stats compiled by WhaleStats, the top 100 SHIB holders control more than a quarter of the total supply of the memecoin. Several cryptocurrency whales have continued to acquire a massive amount of SHIB in recent times.

As a matter of fact, SHIB has also redeemed itself as the “most traded token.” The last week of January was devastating for investors, but the second-largest memecoin made a swift comeback as large holders or whales bagged more tokens, thereby increasing their positions.

Last week Etherscan came across four such transactions which involved the transfer of a total of 63 billion SHIB tokens to four wallets – likely to be acquisition transfers. The first two consisted of over 6.11 billion SHIB and 1.087 billion SHIB respectively. The remaining two totaled more than 28 billion SHIB.

The latest spike comes on the heels of the announcement of a layer 2 network called ‘Shibarium,’ which will be launched soon. Touted by many as a gamechanger, its second version of the private testnet is already live. Another factor that has catalyzed the uptrend over the weekend was Shiba Inu’s partnership with Italian fast food restaurant Welly’s to roll out a SHIB-themed joint.

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Where’s SHIB Heading?

SHIB’s even managed to outpace the OG memecoin and rival Dogecoin (DOGE), which is up by around 7% on a daily scale. It surpassed two major overhead resistances along the way to climb to a price of $0.000029 at the time of writing. As a result of the surge, SHIB’s market cap rose to a whopping $15.3 billion, eclipsing Polygon (MATIC), while the daily trading volume shot up to $3.03 billion.

According to CryptoPotato’s latest analysis, a decisive break above the hurdles of $0.000026 is likely to open the floodgates for more gains in the near term. So far, the asset seems on the right track for the bulls.

SHIBUSD. Source: TradingView
SHIBUSD. Source: TradingView

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SHIB Breaking Out Huge Resistance, Here is The Next Target

by CryptoPotato

Key Support level: $0.000023

Key Resistance levels: $0.000030

As indicated yesterday, SHIB closed in on the key resistance at $0.000023, which has now been firmly broken and turned into support. Once the price moved above this key level, the volume exploded, and the cryptocurrency rallied towards $0.000030, which is now acting as new resistance.

This breakout ends the downtrend, which has lasted since November 2021. The big question now is if SHIB can make a higher high or move beyond $0.000032.

SHIBUSDT_2022-02-07_15-22-21
Chart by TradingView

Technical Indicators

Trading Volume: The volume increased dramatically yesterday after the price broke above $0.000023. This hasn’t been seen since the crash in January.

RSI: The daily RSI has made a higher high and went from 30 points to 60 points in less than a week. This may mean a pullback is likely in the future due to profit-taking.

MACD: The daily MACD is bullish and moving higher at a fast pace. This latest increase in price only reconfirms the bullish bias. SHIB can continue up for quite a while based on the MACD, and this latest move appears like a significant reversal in the previous trend.

SHIBUSDT_2022-02-07_15-22-55
Chart by TradingView

Bias

The bias on SHIB is bullish. This latest breakout confirms a trend reversal.

Short-Term Prediction for SHIB Price

While SHIB may now consolidate just under the key resistance at $0.000030, the price has broken away from the downtrend, and this is a significant change in the market. If SHIB manages to make a higher high, then a sustained rally can be expected, depending on overall conditions.

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Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.




Cryptocurrency charts by TradingView.





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Shiba Inu (SHIB) Explodes 22% Daily, Other Memecoins Follow

by CryptoPotato

Shiba Inu (SHIB) has long been a trendsetter when it comes to memecoins, and alongside Dogecoin, the two cryptocurrencies set the tone for a whole new market that can no longer be ignored.

  • The whole market is in the green throughout the past 24 hours as Bitcoin’s price taps $43K in an interesting turn of events as of late.

  • Shiba Inu (SHIB), however, surprised the market today with a massive surge upwards of 22%.

  • This brings the total gains of the cryptocurrency to more than 34% for the past seven days, and it is now trading at around $0.00002764.

img1_shibchart
SHIB/USDT. Source: TradingView


  • The last time the cryptocurrency traded at these prices was back on January 18th this year.

  • Another interesting thing to note is that SHIB’s meteoric rise over the past 24 hours also brought many other memecoins up.

  • Dogecoin is up about 6.5% and is ahead by three spots by means of total market capitalization, sitting at number 11.

  • Teddy Doge (TEDDY) – one of the trending searches on CoinMarketCap – is up 31% at the time of this writing.

  • Floki Inu (FLOKI) is up 14%, which is the same as another copycat – Floki One.

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Shiba Inu Price Analysis: SHIB is Facing Huge Resistance that Can End the Bearish Trend

by CryptoPotato

SHIB has reached a critical resistance level. A break above would mean that SHIB could likely go for a short-term price rally following a series of bearish weeks.

Key Support level: $0.000018

Key Resistance levels: $0.000023, $0.000026

At the time of this writing, SHIB is facing the critical resistance of $0.000023, which is the only barrier preventing the price from exiting the downtrend that started back in November 2021.

A successful break of this level would likely propel SHIB much higher. In case of a failure, SHIB has decent support at $0.000018.

SHIBUSDT_2022-02-06_13-41-00
Chart by TradingView

Technical Indicators

Trading Volume: Volume spiked on Saturday following another attempt to break the key resistance. The bears stepped up and pushed SHIB back under this critical level, but a new attempt appears likely.

RSI: The daily RSI is making higher lows and also seems close to performing a higher high, particularly if the price can break the key resistance. If successful, SHIB may enter a significant rally.

MACD: Good positive momentum on the daily MACD with higher-highs on the histogram and expanding moving averages. As long as this persists, SHIB has an excellent chance to move much higher.

SHIBUSDT_2022-02-06_13-40-30
Chart by TradingView

Bias

The bias on SHIB is bullish unless SHIB fails to break the key resistance over the next hours or days.

Short-Term Prediction for SHIB Price

Considering the indicators and latest price action, a break of the critical resistance at $0.000023 seems inevitable. This is likely to take place early next week if this momentum maintains. The current price action favors the bulls, and sellers appear exhausted.

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Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.




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Shiba Inu Partners With Italian Fast Food Restaurant to Launch a SHIB-Themed Joint

by CryptoPotato

The team behind the popular memecoin has forayed into its first “real-world” venture by partnering with a small Italian fast-food brand called Welly’s. The duo promised healthy, not just fast food options, and to grow globally together.

  • The announcement from Shiba Inu developer – Shytoshi Kusama – explained that the memecoin’s team chose Welly’s because they were looking for someone who shares the same values.

  • As such, they refrained from partnering with “huge centralized conglomerates that are con-agriculture and known for selling “food” that is harmful, subpar, and possibly poisonous.”

  • Although Welly’s still has a single store in Naples, Italy, the company aims to open multiple new ones in the next few years. The partnership will Shiba Inu should help both sides expand rapidly on a global scale.

  • Being a one-store restaurant, though, allowed Welly’s to transform its place into a Shiba Inu-themed joint within a week.

Welly's Restaurant in Naples, Italy
Welly’s Restaurant in Naples, Italy

  • As part of the collaboration, the fast-food restaurant will start accepting Shiba Inu’s native cryptocurrency (SHIB) as a payment method. According to the announcement, both parties will also consider adding Dogecoin payments, even though Shiba Inu launched with a marketing campaign promising to be a DOGE-killer.

  • After launching in 2020, Shiba Inu gained mass popularity last year during the memecoin season. It became perhaps the biggest gainer in the crypto space, and the team tried to capitalize on all the attention by launching a decentralized exchange and an NFT collection.

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Shiba Inu Price Analysis: After Days of Consolidation, Is SHIB Breakout Incoming?

by CryptoPotato

After some hard days, SHIB is starting to give clear bullish signals that may emerge in the renewal of a possible price rally.

Key Support level: $0.000018

Key Resistance level: $0.000023

While SHIB continues to consolidate under the key resistance at $0.000023, the MACD has turned bullish. The longer price maintains its current level the higher the chance for a breakout. The support at $0.000018 is unlikely to be retested if this momentum continues.

SHIBUSDT_2022-02-02_16-07-23
Chart by TradingView

Technical Indicators

Trading Volume: Volume remains low. However, the buy-side seems to be leading the price action with four green days in the past week.

RSI: The daily RSI left the oversold area and is currently found at 35 points. In order to make a higher high and start an uptrend, the RSI needs to go over 50 points which seems a bit far right now.

MACD: The daily MACD did a bullish crossover three days ago which signals that this consolidation in price may see a breakout to the upside soon. If the key resistance is broken up, then this signal will be confirmed. Right now, the momentum favors the bulls based on the current MACD histogram and moving averages.

SHIBUSDT_2022-02-02_16-07-38
Chart by TradingView

Bias

The bias on SHIB is neutral. A break above the key resistance is needed to flip the bias to bullish.

Short-Term Prediction for SHIB Price

SHIB has not seen such a ‘flat’ trend since last year when the price consolidated for months. If this continues, SHIB may break above the current downtrend over the next few days. It is also possible for SHIB to attempt a break of the key resistance at $0.000023 earlier, as indicated by MACD. If that happens, SHIB may quickly move higher.

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Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.




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Bitcoin (BTC) $ 26,936.22 0.83%
Ethereum (ETH) $ 1,666.34 0.54%
Litecoin (LTC) $ 66.17 1.48%
Bitcoin Cash (BCH) $ 237.20 0.55%