ShibaInu On Solana priceSHIB

$SHIB has bounced off the support zone and on the verge of breaking above the trendline.

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The crypto market has concluded another week with significant developments, particularly with Bitcoin ($BTC) grabbing attention. Despite market optimism expecting a bullish Q4, top cryptocurrency prices have experienced volatility. However, Shiba Inu ($SHIB) has maintained a bullish stance, driven by remarkable community developments. *Key Highlights:* 1. *Bitcoin's Volatile Week*: $BTC closed the week at the $94K level, reversing recent gains. Long-term prospects remain bullish, with market participants showing a "buy-the-dip" sentiment. 2. *Investor Sentiment*: American company KULR's $21M BTC purchase sparked market optimism, but Bitcoin ETFs saw slight outflows, leading to uncertain investor sentiment. 3. *Japan Rejects Bitcoin National Reserve Proposal*: The rejection has sparked market speculations, while Robert Kiyosaki predicts $BTC to hit $350K by 2025. 4. *Altcoins See Remarkable Gains*: Despite market turbulence, altcoins are experiencing significant gains, with experts like Titan of Crypto and Michael van de Poppe remaining bullish on the altcoin market's future. 5. *Shiba Inu's Community Advancements*: Shibarium addresses have crossed the 2 million mark, adding to market optimism. The ongoing SHIB burn saga has reduced the token's circulating supply, paving a bullish path for future movements. *Market Outlook:* Market watchers are eagerly awaiting a market recovery in the coming days, with the bull run expected to continue in 2025. The crypto market's volatility is expected to stabilize, with $BTC and altcoins potentially experiencing significant gains. Shiba Inu's community developments and ongoing burn saga have positioned it for a bullish run, making it an interesting asset to watch in the coming weeks.

$SHIB Inu Coin Faces Pressure: Decline in Burn Rate and Shibarium Fees 🔥 Shiba Inu ($SHIB) is facing bearish sentiment as key metrics signal reduced activity and enthusiasm around the token. A significant drop in burn rate, coupled with falling Shibarium fees, has raised concerns about its short-term price trajectory. --- 📉 Key Developments: 1️⃣ Burn Rate Crash: In the past 24 hours, SHIB’s burn rate has plummeted by over 98%, with only 507,123 SHIB burned. This marks a steep decline compared to recent levels, reducing the deflationary momentum for the coin. 2️⃣ Shibarium Fees Falling: Shibarium, Shiba Inu’s Layer-2 scaling solution, is experiencing declining activity. Average transaction fees, which peaked at 0.0004 earlier this month, have continued to drop. --- 📊 Current Market Stats: Price: $0.00002229 24H Trading Volume: $638.55 million Market Cap: $13.14 billion Circulating Supply: 589.26 trillion SHIB --- 📉 Bearish Indicators: The total value locked (TVL) on Shibarium has fallen sharply, now sitting at $3.55 million, down from over $6 million earlier this month. Analysts suggest that Shiba Inu could face further downside, with a potential drop to $0.00001590, a level last seen on October 25. --- ⚠️ What This Means for Investors: The decline in the burn rate and reduced activity on Shibarium highlight a critical phase for Shiba Inu’s ecosystem. While the bearish sentiment prevails, the cryptocurrency market remains volatile, and unexpected catalysts could still drive price action in either direction. --- 📈 What to Watch: Recovery in Shibarium's activity and transaction fees will be crucial for restoring investor confidence. Look for potential support at $0.00002000 and resistance near $0.00002400 for short-term trading opportunities.

A significant Shiba Inu whale has liquidated 250 billion $SHIB, worth $6.05 million, after initially investing just $3,800 in August 2020. This whale's holdings peaked at a value of $1.22 billion and have generated a total profit of $109 million. Despite the sale, the whale still holds 2.15 trillion $SHIB, valued at approximately $52.18 million. This large-scale liquidation may impact the market mood, potentially frightening smaller investors and increasing volatility, especially since it occurred at a crucial support level. The sell-off highlights the importance of monitoring whale activity to predict future price movements. The price chart shows that Shiba Inu has been declining, recently breaking below the 50 EMA, a strong support line. This breakdown indicates a lack of bullish momentum and increased selling pressure. $SHIB is currently trading at $0.00002408, with the next significant support levels at $0.00002283 and $0.00002045. Failure to maintain these levels could lead to a more substantial correction. Despite the short-term pessimistic outlook, Shiba Inu's potential in DeFi and meme culture continues to attract a robust community and speculative interest. However, investors should exercise caution due to the current market conditions and whale activity. The whale's profit-taking has added pressure on $SHIB, which is still struggling to find a stable support level. It is essential to monitor future price changes and any resurgence of whale activity, as it is a key indicator of the asset's performance.