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Shiba Inu to the Moon: SHIB Records New Groundbreaking Feat

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  • Shiba Inu reaches a new all-time high.
  • SHIB is ready to join the league to the top 10 cryptos.
  • SHIB rose by 47.2% and trades at $0.00004157 in the 24 hours.

Shiba Inu is gradually taking the center stage among other memecoins. The speculations, media, and buzz surrounding crypto is adding to its surge. Just when we thought the meme coin wouldn’t survive like Dogecoin (DOGE), it keeps exceeding lots of investors’ expectations. At the time of writing, the Shiba Inu (SHIB) gained over a 47.2% increase and trades at  $0.00004157 in the 24 hours.

Of note, the bullish position of the coin attests to its popularity and its subsequent move to break new heights. At the moment, Shiba Inu is surging in the crypto market, thus, rising tremendously. Likewise, a week-long media bustle around the memecoin sees it jump from $0.00002796 to a new all-time high. 

All around, it is exciting in the crypto space as Bitcoin and altcoins are hitting new ATHs and deflecting negative tales voiced by some crypto critics. Though, some memecoins are gaining more traction and even pushing some of these major cryptos off the cliff.

The crypto world is emerging, evolving, and moving toward being not just crypto but also a currency that the entire world will embrace soon. The last couple of days have been well off for Siba Inu. Furthermore, Elon Musk’s recent tweet of a text art image of a pup with a rocket ship triggered a rise in Shiba Inu’s price. As much as the image didn’t indicate he was talking about Shiba Inu, still, SHIB’s price went up 21%. 

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Not to mention, SHIB is truly living up to its nickname as the “Dogecoin Killer.”  Most of all, Shiba Inu has garnered lots of attention since its debut in August 2020 and has incurred more than 5,130,000% with a circulating supply of more than 498 trillion. So far, a good number of crypto exchanges now allow users to buy and trade the 11th largest crypto according to Coingecko.

For good measure, the team behind Shiba Inu launched a decentralized exchange ShibaSwap in July 2021. For this reason, some attribute the current status of SHIB to the foregoing. Distinctly, Shiba Inu’s team continues to build more use cases for SHIB. An initiative that aims to sustain its longevity, and value, and dispel crypto analysts’ claims about memecoins.

Equally, the hype around Shiba Inu is not stopping at any moment. This is because it successfully captured the minds of prominent crypto enthusiasts, celebrities alike. Alongside this, its tight-knitted community, adoption as a form of payment, and the entire team of Shiba Inu working round the clock to make the crypto more valuable will make the crypto much likely to survive.

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Even more, Shiba Inu needs no introduction again as the crypto keeps making a name for itself. Thus, moving away from the shadow of Dogecoin and in motion to join the top 10 cryptocurrencies. According to Coingecko, SHIB stands at the 11th position, swiftly marching to get to Dogecoin (DOGE) which stands at the 9th position.

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Shiba Inu Can Now Be Used for Booking Over 2 Million Hotels

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Travala has added support for the Shiba Inu cryptocurrency.

Cryptocurrency-focused travel company Travala has announced that it now accepts Shiba Inu as a means of payment after the community managed to win a “battle” against rival meme coin Floki Inu. 

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This means that the red-hot cryptocurrency can now be used for booking over 2.2 million hotels and accommodations around the globe.

Dogecoin, the original joke cryptocurrency, was added to the list of available payment options in early May.

In July, Travala launched Dtravel, a decentralized home rental service that aims to compete with incumbents of the likes of Airbnb. Its ownership is managed with the help of the decentralized autonomous organization (DAO) model.

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The service was launched in 2017 and quickly became popular with crypto-friendly travelers.

Last year, Travala merged with Binance-invested competitor TravelbyBit.   

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Wealth Of US Billionaires $3 Trillion Shiba Inu Market Cap $20 Billion

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Dan Held Expressed: Total wealth of US billionaires = $3 trillion.

If we confiscated all of their wealth, we’d only be able to run the federal government for less than 6 months. Perhaps our problem isn’t how much billionaires have but how much politicians spend.

Community Response:  Brilliant observation.  Total wealth of US billionaires = $3 trillion. Shiba Inu market cap = $20 billion. Still early.  +589 trillion tokens requires a lot of burning over the next millennium. Still early.

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That’s 100% our problem and anyone that tells you otherwise is pandering.

Who’s saying confiscate their money.  No one.  Just be nice if they paid a higher effective tax rate than the regular Joe.

Sure and I agree but we would only get enough taxes out of them to run the government for like two weeks.

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There are like 100 billionaires. The fact that so few people have wealth that could fund the entire US government, everything included, for 6 months is sort of a problem.

Nope, you’ve missed the point entirely.

If government spending was less, it would only mean that these individuals could fund it for even longer. How does that make it better?

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The point is that government is a machine designed to reward inefficiency and failure. Literally every dept in the gov burns resources at the end of the fiscal year so they don’t get a reduced budget the following year.

Have you ever worked in a business with a budget? Happens all the time.

Businesses subject to the free market cannot do this ad infinitum as the government can, a very notable difference, and when a private business makes bad financial decisions in that case, because I am not footing the bill.

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It is, but I suspect you are confused as to the source of the problem.

You are way off if that statistic.  The government money printer destroyed the natural mechanism of capital allocation. And still there are groups who are thinking that the government can solve every problem on earth. It’s time to take them their printing machine away.

“Your problems are not caused by someone else being a billionaire”

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Not everyone can be a billionaire. So actually, it is. Competition for wealth, yeah, but we don’t need to have loosers in that system. The system of the future will allow people to opt of even playing the game, and still survive.

It could also be both. Why target one thing vs a broad and sweeping solution?

What if we take their money and yield farm with it?  You want to take their money so you can make money for yourself then? And then, when you become the rich one, what happens then?

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Not to mention in order to do that you will need to liquidate their companies where the residual value lies. This would effectively shut down things like Tesla and Amazon. They just keep spending though.

Should anyone in a civilized society have this much power (political influence) without accountability?

But also, the world’s 2000 billionaires have as much wealth as the poorest 4 billion people.

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Shiba Inu restarts bull run as global tailwinds take over

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  • Shiba Inu has curbed the downtrend with a pickup in buying volume.
  • SHIB price looks bullish with a possible return to $0.00004490. 
  • Expect a possible start of an uptrend towards $0.00008373 if current tailwinds  persist.

Shiba Inu (SHIB) price has been under pressure over the weekend and accelerated its downtrend due to the spillover effect from the Bitcoin flash crash. SHIB price then bounced off the monthly S1 support level, however, and created a bullish knee-jerk reaction, reversing most of the incurred losses from the weekend. The short-squeeze could see SHIB price return, first to  $0.000004490, and then on the back of a global recovery, perhaps all the way back up to $0.00008373.

SHIB price sees bulls squaring incurred losses

Shiba Inu price sees bulls playing the global recovery story as the bear run was halted at the monthly S1 support level near $0.00003000, and the red descending trend line just below.. Expect bears that came too late to the party to now lick their wounds as the bullish knee-jerk reaction squeezes them out of their positions.. As global equity markets are recovering their losses from last week, more and more bears will be pushed out of their positions, obliged to revert to the buy side and square their losses.

This will result in SHIB price picking up steam to the upside, which will attract more investors to the price action and could easily see bulls reversing the fully incurred losses from past weekend towards the 61.8% Fibonacci level at $0.000004490. Bulls might face some resistance around that level as the 55-day Simple Moving Average (SMA) is hovering just above that 61.8% Fibonacci level. Current tailwinds look quite sound, expect further upside potential towards the 50% Fibonacci level at $0.00005690.

SHIB/USD daily chart

SHIB/USD daily chart

Expect bulls to further add to the rally as more technical levels get cleared, with equity markets pushing to new all-time highs and lifting investment sentiment. By the end of next week, SHIB price could be at $0.00008373, or the 23.6% Fibonacci level. If market sentiment flips back to the downside, expect bears to try and push price action below the red descending trend line with considerable support at $0.00002000 where the 200-day SMA is located.   

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