• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
No Result
View All Result
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
No Result
View All Result
NewsBTC
No Result
View All Result
Nexo Logo

Shiba Inu Barks At Bears With 25% Gains, But Social Media Continues To Trend Dogecoin

Anifowoshe Ibrahim by Anifowoshe Ibrahim
5 months ago
in Shiba Inu
Reading Time: 3 mins read
Advertisement

Leading altcoins like Shiba Inu saw decent gains as the global crypto market value rose past $1.71 trillion on the strength of Bitcoin’s climb above $42,000. Meme coins, on the other hand, still had the hearts of the crypto audiences, with Shiba Inu recording the largest market gains and Dogecoin, the top dog coin, remaining the most talked about crypto in social media after BTC.

Interest Surge In Shiba Inu

On Monday, the memecoin surged to $0.00002961, its highest level since January 18, as the cryptocurrency market saw fresh buying interest. SHIB’s price has plummeted by nearly 80% from its all-time high of $0.00008870 prior to the retracement.

Daily increases of near to 25% and weekly gains of more than 36% were recorded by the meme token. SHIB also saw a remarkable surge in trading volumes, with almost $2.8 billion traded at press time, a 244% increase.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Shiba Inu

The 24 hours price chart of SHIB/USDT. Source: Tradingview

SHIB was the sixth most traded cryptocurrency by Coin Market Cap at the time of publication, following Tether, Bitcoin, Ethereum, Bitcoin Cash, and Binance USD.

According to Ishan Arora, Partner at Tykhe Block Ventures, a crypto hedge fund, the general crypto markets have been given a relief rally after weeks of persistent downtrend.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

Ishan noted:

“Bitcoin and Etherum both bouncing off the lows have again given investors confidence in other coins such as Shiba Inu which have also bounced off weeks of downtrend.”

shiba Inu

Crypto market turn green. Source: Coin360

Despite the recent rebound, Shiba Inu is still 72% below its all-time high, which was reached in October 2021, as the memetoken followed in the footsteps of the other altcoins.

Shiba Inu, also known as the ‘Dogecoin Killer,’ has a maximum supply of 589,735,030,408,323 SHIB, with a total circulating supply of 549,063.28B SHIB.

On the basis of a review of the tech charts, Shiba Inu’s price consolidation and an on-chain analysis suggest prices are inching towards $0.000054, he stated.

Related article | Shiba Inu Enters The Metaverse, But Will This Help Its Price?

Dogecoin Still Rules Social Media

As a result, while SHIB may have a high chance of flipping DOGE (while it has in the past), the flipping may have to wait as DOGE’s social media sentiment remains positive.

Notably, DOGE appears to have declined in popularity in comparison to SHIB, yet Dogecoin remains the most popular cryptocurrency on social media, second only to the king coin BTC. For example, the official Dogecoin Twitter account recently topped 3 million followers. With 4.5 million followers, Dogecoin is the second most popular cryptocurrency after Bitcoin. Shiba Inu comes in second with 2.7 million followers, but Dogecoin remains the most popular cryptocurrency.

For the time being, Shiba Inu’s price has been boosted by retail enthusiasm and respectable trading volumes, as well as market-driven gains. Dogecoin rallies have been boosted in the past by Elon Musk-driven price increases as well as external news such as Tesla accepting the coin as payment for some Tesla-branded items.

So, as the meme token war continues, with Dogecoin still leading, it’s unclear whether Shiba Inu will be able to surpass DOGE in the near future.

Related article | Recapping 2021 Memecoin Mania: Dogecoin, Shiba Inu, & More

Featured image from Unsplash. Chart from Coin360,and TradingView
Tags: bitcoinDogecoinSHIBSHIB priceShiba Inu
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Anifowoshe Ibrahim

Anifowoshe Ibrahim

Related Posts

Shiba Inu

Shiba Inu (SHIB) Shines Green In Pool Of Crimson – Who’s Buying?

13 hours ago
Shiba Inu

Shiba Inu Hops By 45% In A Week – What Could Have Pushed SHIB Up?

3 days ago
Shiba Inu

Shiba Inu Now The Largest ETH Whales’ Holding Despite Crypto Market Turmoil

2 weeks ago
Shiba Inu

Shiba Inu Ranks No. 1 In List Of Coins Americans Want To Sell, Survey Shows

2 weeks ago
Shiba Inu

Shiba Inu (SHIB) Profitability Plunges To Hell As Bloodbath Continues

2 weeks ago
Shiba Inu

Shiba Inu Vs. Dogecoin And LUNA: Which One Will Survive The Crypto Carnage?

2 months ago

Premium Partners

Top Brokers

PrimeXBT

PrimeXBT

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
7BitCasino

7BitCasino

Review · Visit
BC.Game

BC.Game

Review · Visit
Punt Casino

Punt Casino

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bspin

Bspin

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit
BC.Game

BC.Game

Review · Visit

Crypto To Add The Best Gains To Your Portfolio For Bull Market: Gnox (GNOX), Cronos (CRO) And NEAR Protocol (NEAR)

July 1, 2022

U Promise Me: The Digital Promise Platform

July 1, 2022

XT.com Lists Land of Fantasy (LOF) With USDT Trading Pair

July 1, 2022

LYOTRADE Launches Crypto Loans—Get USDT and Win Against Volatility

July 1, 2022

Torches Genesis NFT Launching, Win Torchlight NFT to Unlock IDO Allocation

June 30, 2022

ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2021 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play Games
  • Bet & Win

© 2021 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.