Shiba Inu ($SHIB) Crypto Forecast: Down 6.6% Today

What is Shiba Inu?

SHIB, known as Shiba Inu, is a meme-based cryptocurrency token that has gained popularity as the "Dogecoin killer" due to its dog-inspired branding. The cryptocurrency market has been experiencing volatility, with investors closely following various meme coins and their price movements.

Why is Shiba Inu going down?

SHIB crypto is down 6.6% on Nov 20, 2024 19:48

• The downward movement of SHIB today may be linked to investors taking profits following a period of notable gains.
• Reports of a single whale holding 10% of the SHIB token supply could have prompted concerns about market manipulation and decentralization, resulting in a sell-off.
• Despite the optimistic price outlook for SHIB, market sentiment may have been swayed by uncertainties surrounding a significant update by Binance Exchange for SHIB and Cardano, prompting some investors to exercise caution.
• Comparisons between Dogecoin's market capitalization potentially surpassing luxury car brands like Porsche and Mercedes-Benz could have diverted attention and investments away from SHIB, exerting a negative influence on its price.

SHIB Price Chart

SHIB Technical Analysis

SHIB News

'Dogecoin Millionaire' Shares $50 Million Meme Coin Strategy For 2025: Pepe, Brett Are This Bull Run's DOGE, Shiba Inu

'Dogecoin Millionaire' Shares $50 Million Meme Coin Strategy For 2025: Pepe, Brett Are This Bull Run's DOGE, Shiba Inu

https://www.benzinga.com/markets/cryptocurrency/24/11/42097462/dogecoin-millionaire-shares-50-million-meme-coin-strategy-for-2025-pepe-brett-are-this-bul?utm_source=cryptopanic.com&utm_campaign=partner_feed&utm_medium=partner_feed&utm_content=site

Shiba Inu Price Forecast: 4 Reasons Why You Should Not Sell SHIB

Shiba Inu Price Forecast: 4 Reasons Why You Should Not Sell SHIB

https://coingape.com/markets/shiba-inu-price-forecast-4-reasons-why-you-should-not-sell-shib/

Dogecoin (DOGE) Market Cap Could Surpass Porsche and Mercedes-Benz If This Happens

Dogecoin (DOGE) Market Cap Could Surpass Porsche and Mercedes-Benz If This Happens

https://beincrypto.com/dogecoin-price-market-cap/

Binance Exchange Makes Major Shiba Inu and Cardano Update, What’s Next For Asset’s Price

Binance Exchange Makes Major Shiba Inu and Cardano Update, What’s Next For Asset’s Price

https://zycrypto.com/binance-exchange-makes-major-shiba-inu-and-cardano-update-whats-next-for-assets-price/

Shiba Inu $2.5 Billion Secret: A Single Whale Reportedly Controls 10% of the Supply

Shiba Inu $2.5 Billion Secret: A Single Whale Reportedly Controls 10% of the Supply

https://news.shib.io/2024/11/20/shiba-inu-2-5-billion-secret-a-single-whale-controls-10-of-the-supply/?utm_source=rss&utm_medium=rss&utm_campaign=shiba-inu-2-5-billion-secret-a-single-whale-controls-10-of-the-supply

Trending Today

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Shiba Inu Price History

18.10.2024 - SHIB Crypto was up 5.1%

• SHIB experienced a strong bullish movement today amidst a flurry of positive developments and market indicators.
• Speculation around a potential massive surge in SHIB, likely fueled investor optimism and buying pressure.
• The development of a Golden Cross, indicating a short-term bullish trend, may have attracted technical traders to enter long positions on SHIB.
• The warning issued by the Shiba Inu team regarding rising crypto scams could have also contributed to the increased interest in SHIB as investors seek safer alternatives within the crypto space.

17.10.2024 - SHIB Crypto was up 5.8%

• SHIB's recent bullish movement is linked to the development of a golden cross, suggesting a potential 23% breakout, which has boosted investor confidence.
• Optimistic price predictions for SHIB on November 17 have further fueled investor interest and contributed to its upward momentum.
• Despite trading within specific price ranges, the positive market sentiment and potential breakout have overshadowed any concerns, driving the bullish trend.
• Recent events, such as the surge in Polkadot's price and reports of the U.S. government's investigation into blockchain-based voting systems, have helped create a positive environment in the crypto market, indirectly benefiting SHIB.

17.10.2024 - SHIB Crypto was down 5.3%

• Today's downturn in SHIB may be linked to a scam alert issued by the SHIB team, causing concern among investors and prompting a sell-off.
• Reports of SHIB facing a significant resistance at $0.00003 could have fueled doubt and caution among traders, leading to a negative market outlook for the token.
• Despite initial price increases, the unrealistic anticipation for SHIB to reach $1 post-Dogecoin's surge may have encouraged profit-taking, subsequently impacting the token's price.
• Suggestions from a SHIB developer for Donald Trump to enlist a blockchain consultant, while not directly related to the token's performance, may have contributed to market noise and distractions, influencing the downward trend.

18.10.2024 - SHIB Crypto was up 5.5%

• SHIB displayed a bullish movement by forming a Golden Cross, suggesting a potential uptrend in its price.
• Despite facing challenges that may lead to price volatility, SHIB received this positive technical signal.
• While SHIB's price showed bullish movement, it did not match the momentum observed in XRP, potentially influencing its market performance.
• The performance of the meme coin Floki surged after news emerged about a potential listing on Coinbase, diverting some attention from SHIB and affecting its market performance.

20.10.2024 - SHIB Crypto was down 5.9%

• SHIB showed a bearish movement despite potential hints of a bullish reversal in the price, suggesting a possible disconnect between market sentiment and technical analysis.
• The mention of Shiba Inu by a prominent figure could have initially generated interest and buying activity, but the lack of sustained momentum eventually caused a sell-off.
• While other meme coins like BRETT & BONK saw a rally, SHIB consolidated, indicating a potential shift in investor focus to different assets within the meme coin sector.
• The overall bullish movement in the market, exemplified by BTC reaching a new all-time high, might have shifted attention and capital away from SHIB, contributing to its bearish performance.

20.10.2024 - SHIB Crypto was down 7.1%

• The bearish movement in SHIB today could be attributed to profit-taking by investors after a period of significant price volatility.
• The news of a single whale reportedly controlling 10% of the token's total supply may have raised concerns about market manipulation and concentration of power within the SHIB ecosystem.
• The competition from other meme coins like Shiba Shootout and the speculation around SHIB reaching $1 may have diverted investor attention and capital away from SHIB, leading to the bearish trend.
• Binance's update on Shiba Inu and Cardano may have also influenced the market movement, as traders could be reacting to the implications of these changes on SHIB's future price trajectory.

20.10.2024 - SHIB Crypto was down 6.0%

• Today's bearish trend in SHIB might be due to investors taking profits following significant price fluctuations.
• The appearance of a significant Shiba Inu whale holding $2.5 billion in SHIB across different addresses could have caused market anxiety, resulting in selling activity.
• Competition from new meme coins such as Shiba Shootout and speculation surrounding SHIB hitting $1 could have shifted focus and investment away from SHIB, influencing its price negatively.
• Though Mint Club's substantial investment in Shibarium, a related decentralized platform, could have positive long-term effects on the token, short-term market sentiment seemed to favor different assets, impacting the current bearish trend.

20.10.2024 - SHIB Crypto was down 6.6%

• The downward movement of SHIB today may be linked to investors taking profits following a period of notable gains.
• Reports of a single whale holding 10% of the SHIB token supply could have prompted concerns about market manipulation and decentralization, resulting in a sell-off.
• Despite the optimistic price outlook for SHIB, market sentiment may have been swayed by uncertainties surrounding a significant update by Binance Exchange for SHIB and Cardano, prompting some investors to exercise caution.
• Comparisons between Dogecoin's market capitalization potentially surpassing luxury car brands like Porsche and Mercedes-Benz could have diverted attention and investments away from SHIB, exerting a negative influence on its price.

19.10.2024 - SHIB Crypto was up 5.3%

• The positive sentiment towards meme coins, exemplified by a $116B market cap after recent events, likely influenced SHIB's bullish movement today.
• Analyst predictions of a significant price increase may have bolstered investor confidence, potentially contributing to SHIB's upward trajectory.
• The burning of 624M SHIB tokens within a week potentially created scarcity and drove up demand for the token, impacting its price positively.
• SHIB's comparison to Litecoin and its rebranding as a meme coin could have set it apart in the market, increasing interest and investment.

19.10.2024 - SHIB Crypto was up 5.3%

• The significant increase in Shiba Inu's burn rate by 938.7% in the past 24 hours indicates a positive sentiment among traders, leading to bullish momentum.
• The anticipation of SHIB breaking resistance levels for a potential rally is fueled by the spike in burn rate and positive market sentiment.
• Binance's announcement of a major update for SHIB could have also contributed to the bullish movement, as it signals increased utility and adoption for the token.
• The overall positive sentiment in the cryptocurrency market, with Dogecoin eyeing a $1 milestone and potential $100 billion market cap, could have also positively influenced SHIB's bullish movement.

16.10.2024 - SHIB Crypto was up 5.1%

• SHIB witnessed a notable surge in value today, recording an 8% price increase despite a substantial circulation of 5.72 trillion SHIB tokens in the past 24 hours.
• There is speculation circulating about the potential for SHIB to hit $1, driven in part by Dogecoin's recent 200% surge, which has captured the interest of investors and contributed to the current uptrend.
• Sentiments in the market towards SHIB appear optimistic, with industry participants and observers setting ambitious new price targets for the token, reflecting a growing belief in its ability to appreciate further.
• In the context of other alternative cryptocurrencies also experiencing price breakouts at this time, the positive performance of SHIB suggests a broader trend of bullish momentum in the digital assets space that SHIB is leveraging.

20.10.2024 - SHIB Crypto was down 5.2%

• The bearish movement in SHIB today could be attributed to the token failing to break resistance levels despite a significant increase in burn rate by 6070%.
• The slow movement of SHIB compared to other cryptocurrencies like Solana (SOL) reaching $300 and Bitcoin (BTC) hitting a new all-time high might have led investors to shift their focus to more active assets, contributing to the bearish trend.
• Despite the potential for a major rally, the market sentiment towards SHIB today seems to have been influenced more by its inability to capitalize on the increased burn rate, resulting in the bearish movement.