Shiba Inu Displays Surprising Price Movement – Can SHIB Ditch The Flatline?

News BTC

Shiba Inu (SHIB) is full of surprises up its sleeve. The top dog meme coin’s latest price rally was impressive as the coin was able to showcase the lowest level of daily volatility as seen in the entire crypto trading history.

As of this writing, SHIB is up by 2.66% or at $0.00001217.

According to the daily chart, SHIB has been consistently darting on a straight line seen in the past few days. In fact, the dog meme coin’s price hasn’t moved a bit for a straight week, which is bizarre especially for a volatile asset such as SHIB.

How To Get Free Crypto  
5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!
Chart: TradingView.com

Shiba Inu On A Flatline?

It’s uncertain why Shiba Inu has been showing a flatline or sluggishness in performance – but there are some talks coming from investors and traders that the volatility issues of SHIB seems to have cropped up from the decline in the burn rates of the token, which is said to have been fueled by previous Shiba Inu projects lke Shibarium Multiverse.

On June 21, SHIB penetrated the descending channel as it rolls down which could have signaled a coin reversal. However, the discrepancy in trading inflows and volume prompted SHIB to roll back to $0.00001.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?

Get 110 USDT Futures Bonus for FREE!

Shibaswap Outperforming BAYC And OpenSea

Shiba Inu isn’t just another meme coin you’ve heard of because it’s committed to growing and scaling the network. Shibaswap’s launch and its continuous thrust as the top Ethereum dApps in terms of social signals cements Shiba Inu’s status in the crypto space. Shibaswap was able to rake in an average of $10.8 million in terms of daily volumes.

This is an exceptional performance coming from a DEX that was able to outperform both Bored Ape Yacht Club and OpenSea. Notably, there was also an in exchange withdrawals which is quite normal especially at discounted levels. Currently, SHIB trades at a huge discount from its ATH.

Coinbase Banner  

More so, Shibaswap has had a huge influence on the performance of SHIB. But, its impact isn’t as powerful compared other economic or market forces that may have caused its uncanny price movement or behavior. The Shibaswap ecosystem is expected to grow and expand which may influence more people to stake SHIB, but people just have to wait and see.

Read our comparison of 50 different crypto casinos. Find out who has most generous bonuses, best UX, knowledgeable customer support and best provably fair games.

In other news, while SHIB is no longer a part of the top cryptocurrencies according to market cap, the meme coin is still favored by the crypto space. Shiba Inu is planning to develop a reward token, stablecoin built for its ecosystem, and a collectible card for the metaverse.

SHIB total market cap at $384 billion on the weekend chart | Source: TradingView.com

Featured image from Slate.com, chart from TradingView.com

Go to Source
Author: Jet Encila


Recommended Crypto Services, Products and Strategies:

The first thing any crypto investor needs is is a reliable and secure Crypto Wallet.  Whether you’re looking for an online wallet, hardware wallet, desktop or mobile wallet, Crypto Renegade provides you with all the Best Crypto Wallets in each category.

FreeBitcoin Banner  

Best Crypto Wallets Banner

When you’re ready to buy more crypto, or exchange your coins for others, Crypto Renegade’s list of the Best Crypto Exchanges has you covered.  The Crypto Exchanges recommended here offer everything from simplicity and convenience to advanced trading platforms and profit sharing. 

Best Crypto Exchanges Banner

If you want to learn more about the methods and tools that can be used to find Great Crypto Projects, then be sure to check out Crypto Renegade’s strategy for How To Find The Best Cryptocurrency.

Crypto Strategy Banner

For those people that don’t have any money to invest right now, or just want to understand the technology a bit more, you’ll definitely want to check out Crypto Renegade’s Free Crypto Strategy and start collecting Free Coins today!

Free Crypto Banner

What do you think about cryptocurrency? Do you have any questions about it? Be sure to leave a comment below.

This site uses Akismet to reduce spam. Learn how your comment data is processed.