Connect with us

SHIB

Memecoin Bloodbath: Shiba Inu, Doge and Floki Drop by 8% on Average

Published

on

Memecoins are triyng to survive in this market but are not doing well, unfortunately.

A large sell-off on the cryptocurrency market has not excluded meme-based coins like Shiba, Doge and Floki, leaving them with an average 8% loss in the background of an even greater dip that begun after assets reached local tops.

Shiba Inu fails to recover

After the retrace that began on the SHIB/USDT pair slowed down and the token started consolidating around the $0.00005 area, a lot of Shiba Inu market participants hoped that the token would proceed to breakthrough the consolidation range and reach a new high, but according to the chart, SHIB reached a 20-day low.

Advertisement
Shiba Inu Daily Chart
Source: TradingView

At press time, SHIB lost more than 40% of the previously gained price even though whale-tier investors and on-chain data in the background show that investors are still interested in purchasing more tokens.

Dogecoin’s struggle

While DOGE remains the oldest dog-based digital asset, it unfortunately struggles to show positive results and has been moving in a wide range for the last 100 days.

Dogecoin Daily Chart
Source: TradingView

The most recent price action of Dogecoin mostly follows the market with 12% of weekly loss on the chart.

High potential Floki loses its positions

Floki was designed to be the third-largest meme-coin out there and should have become Shib’s main competitor but, unfortunately, it has not been showing any impressive market performance since the most recent ATH.

In the last two weeks, Floki lost 51% percent of its value and 62% from its recent ATH. Floki has not shown green candles on the chart since Nov. 12.

Advertisement

News Source

SHIB

SHIB Price Triumphs Toward New Milestones! Will Shiba Inu Flip Dormant ADA and XRP?

Published

on

Shiba Inu (SHIB) has achieved a new breakthrough by excelling beyond a 1 million user base although its price has been trading 50% below its ATH. The meme coin has managed to drag the attention of a larger user base amid raising FUDs over the new Covid strain and US inflation. However, an update of the breakthrough and generation of subsequent higher lows in the recent past stimulated community growth. 

SHIB Adoption Peaks!

Moreover, the SHIB token was recently listed on the Kraken exchange on high user demand, followed by which the token enjoyed significant gains. A surge in the excitement towards the asset has been prompting other popular exchanges to list the meme token. Interestingly, a popular Brazilian cryptocurrency exchange Mercado Bitcoin is all set to list SHIB on December 2nd, 2021. So, the meme coin now gets exposure to a larger user base. 

Owing to the recent developments, investors pile up their portfolios with a huge chunk of SHIB tokens. A reputed healthcare service provider Ask the Doctor has recently purchased approximately 31 billion SHIB worth $1.5 million USD. In addition, the institute would soon enable SHIB payments with their healthcare partners. 

Advertisement

SHIB to Challenge Cardano and Ripple?

SHIB price has seen exponential growth since the start of the quarter with record-high gains. However, prime coins under the top 10 such as Cardano and Ripple have been depreciating in their market cap with nil volatility. In the recent rally, SHIB’s trading volume on the Binance exchange has surpassed Bitcoin’s trading volume. Hence, it would be no surprise, if ADA and XRP fail to find any momentum in the short term, then the meme coin would easily outstrip them. 

However, SHIB’s price has managed to break $0.00003849 followed by its listing on the Kraken exchange. Along with fundamentals, the altcoin holds a bullish technical perspective to chug up toward new highs. RSI is at 45.65 favoring a bull run to commence soon, hence it would again breach the resistance around $0.00004258. 

Collectively, traders are pleading SHIB to be listed on Robinhood. If speculations come into reality and altcoin manages to keep up the price momentum, then Shib would soon skyrocket to break old records. 

Advertisement

News Source

Continue Reading

Shiba

Shiba Inu price edges closer to another 50% upswing

Published

on

  • Shiba Inu price has dropped 18% into a high probability reversal zone, hinting at a new leg-up.
  • Investors can expect SHIB to shatter intermediate resistance levels and tag the $0.0000625 resistance level.
  • A breakdown of the $0.0000362 support will invalidate the bullish thesis.

Shiba Inu price looks ready for a reversal as it enters a crucial support area that is likely to trigger a massive uptrend. This move has a high chance of occurrence as it allows sidelined buyers who missed the initial run-up to get in on the next leg-up.

Shiba Inu price prepares for liftoff

Shiba Inu price rose 50% in under two days as it triggered an upswing on November 28. This rally set up a swing high at $0.0000543 and has dropped 23% to where it currently trades – $0.0000422.

Interestingly, SHIB has entered the high probability reversal zone, extending from $0.0000400 to $0.0000431. This is an oversold area that is likely to trigger an inflow of buying pressure from investors that missed the initial spike in price.

Therefore, market participants can expect Shiba Inu price to reverse its downtrend soon. The resulting uptrend will take a jab at the range high at $0.0000543 and attempt to move higher. In this case, SHIB will revisit the $0.0000579 and $0.0000625 resistance barriers.

Advertisement

In total, this run-up from $0.0000415 would indicate a 50% gain for Shiba Inu price. 

SHIB/USDT 4-hour chart

SHIB/USDT 4-hour chart

While things are looking gloomy at the moment, investors can expect a decent bounce from Shiba Inu price soon. A failure to do so could result in a breakdown of the 79% Fibonacci retracement level at $0.0000400 and a revisit of the range low at $0.0000362.

A daily close below this level will create a lower low and invalidate the bullish thesis. In such a case, Shiba Inu price could tag the $0.0000330 support level.

Advertisement

News Source

Continue Reading

SHIB

Healthcare Company Adds Shiba Inu to Its Balance Sheet

Published

on

A Toronto-based healthcare company now holds Shiba Inu on its balance sheet.

Ask The Doctor, a Canadian online healthcare company, has added $1.5 million worth of Shiba Inu to its balance sheet, according to an announcement posted on its Twitter account.

Kraken facilitated the seven-figure buy. As reported by U.Today, Shiba Inu started trading on the San Francisco-based cryptocurrency exchange on Tuesday.

Advertisement

The medical information website will also begin accepting the meme cryptocurrency with its healthcare partners within the next three days.

It already allows clients to pay with Dogecoin for certain services in the U.S. and Canada.   

The Toronto-based company was launched in 2010, allowing its clients to connect with medical professionals via text messages or video streaming. Notably, its list of co-founders includes former NBA player Israel Idonije and former NBA star Dikembe Mutombo.

In 2016, Ask The Doctor started accepting Bitcoin payments, becoming the first healthcare company around the globe to embrace crypto.

Advertisement

The reason for adding the new payment option was to offer customers who share sensitive medical data more privacy.

News Source

Advertisement
Continue Reading