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The meme coin market saw substantial growth in early 2024 after US President Donald Trump introduced the TRUMP token to the market on January 18. The announcement triggered mass attention, producing unprecedented trading volume numbers across different platforms. However, the market has lost substantial enthusiasm because of numerous botched projects and rug pulls, which caused investors’ trust to evaporate. Bobby Ong, founder of CoinGecko, indicated that the TRUMP and MELANIA token launches served as the maximum point for memecoin popularity, which drained liquidity from the overall cryptocurrency industry. The token launchpad Pump.fun achieved $3.3 billion as its maximum weekly trading volume throughout this period. The “Libragate” controversy between token insiders who obtained significant profits from Libra (LIBRA) resulted in complete market inactivity. The metrics at Pump.fun indicate that newly made and graduated tokens fell by 90% from the February high. When the LIBRA token was launched with ties to Javier Milei, the Argentine President, CNF reported that major structural problems became evident within the memecoin market. Insider trading resulted in more than $107 million in profits before the LIBRA token value experienced a loss of 94% during its initial hours. The incident undermined all investor faith while proving that predatory launches occur when certain individuals benefit at stakeholder expense. Source The memecoin market tended to experience seasonal patterns previously, but the LIBRA controversy dramatically slowed up its deterioration process. Memecoins reached their peak market capitalization of $124 billion on December 5, but it declined to $54 billion based on CoinMarketCap statistics . Traders on Pump.fun reduced their volume activity by 63% throughout January and February due to weakening investor interest across the market. The cryptocurrency market now directs its attention back to Bitcoin (BTC) and Ether (ETH) because interest in memecoins has rapidly diminished. The analytics company Santiment detected that decreasing memecoin speculation indicates healthier market dynamics, allowing investors to focus on Bitcoin along with Ether and other first-layer altcoins. Ong predicts that the memecoin industry will transition toward a highly disproportionate distribution scheme that will allow only a few tokens to maintain long-term success. Disruptions in the crypto market failed to stop three memecoin, Dogecoin (DOGE), Shiba Inu (SHIB), and Bonk (BONK), from surviving multiple market cycles as leaders for future memecoin ventures. According to Ong’s perspective, success within the memecoin domain will persist only when strong communities are created. Memecoins with devoted user communities who consistently generate organic content present higher chances of remaining viable in the market. In the aftermath of recent failures, existing market doubts show that the memecoin market sector confronts future difficulties on its journey to success.

Dog-themed Shiba Inu (SHIB) has registered a significant 3% increase in price within the last 24 hours. This has seen the meme coin trade at $0.00001339 at the time of this writing, according to data from CoinMarketCap. Death cross's bearish impact on SHIB Despite this uptick, SHIB investors remain concerned about the token's future trajectory. SHIB has been in a death cross since last month, and market participants have expressed concern over its performance in the broader cryptocurrency market. For context, a death cross occurs when the 50-day Moving Average falls below the 200-day Moving Average. This metric indicates a fall in the price of an asset. SHIB has suffered this decline, and the current 3% surge has not done much to clear it off this bearish zone. Generally, a death cross signals bearish pressure. However, SHIB’s ability to register an uptick amid wild volatility raises market participants' anticipation of a possible rally out of the death cross zone. Analysts say ecosystem support remains crucial for this to happen. For instance, trading volume has dropped by 26.07% to $206.24 million within the last 24 hours, signaling investors' reduced market activity. Market experts say that for SHIB to witness a rally that could clear it off the zone, the trading volume must increase while maintaining a higher burn rate to trigger sentiment and sustain price rallies. Ecosystem trend to watch Meanwhile, according to data from Shibburn, the Shiba Inu ecosystem recently saw the incineration of 20 million SHIB tokens within minutes as part of a deflationary move to keep prices stable. An anonymous whale single-handedly sent over 12 million SHIB to dead wallets. While the move is commendable, analysts have called for consistency to support SHIB’s quest for higher price levels. Stakeholders backing the token remain optimistic thqt it might chart a rally drawing on the current outlook. #SHIB #Shibainu

Who’s leading the charge today? 🚀 Check out the top trending cryptos on BitDegree 👇 1. Pi $PI 2. Bitcoin $BTC 3. Solana $SOL 4. XRP $XRP 5. Ethereum $ETH 6. Dogecoin $DOGE 7. BNB $BNB 8. Shiba Inu $SHIB 9. Mines of Dalarnia $DAR 10. Cardano $ADA

Analyst Javon Marks projects 480% Shiba Inu (SHIB) surge; Price Target $0.000081 Shiba Inu (SHIB) bullish momentum; resistance at $0.00001380; next target $0.000014 SHIB strong support found at $0.00001320; key level for potential price action Market analyst Javon Marks projects a potential 480% surge for Shiba Inu (SHIB), setting a price target of $0.000081. Marks’ ambitious projection follows SHIB’s recent price movements above a key resistance trendline, with some analysts even forecasting a rise to $0.00015. As of press time, SHIB trades at $0.00001320, a blip of 3% over 24 hours. But then, trading volume is on the rise for the same timeframe, a 41% surge to $280 million, the market cap at $7.9 billion. This mixed market sentiment is the ongoing fight between bulls and bears. Price Momentum and Key Levels to Watch The price path of SHIB has shown a consistent upward trend. The token moved from a low of $0.00001298 to a recent high near $0.00001380 before pulling back slightly. This bullish momentum suggests that investor confidence remains strong, even as SHIB meets resistance at higher levels. However, the market remains volatile, and any big … The post Shiba Inu (SHIB) Set for 480% Surge? Analyst Price Target Sparks Hope appeared first on Coin Edition.

The Shiba Inu (SHIB) team is optimistic about the possibility of SHIB being included in the proposed U.S. strategic crypto reserve, following former President Donald Trump’s proposal to integrate BTC, ETH, SOL, ADA and XRP. Lucie, the marketing lead for Shiba Inu, echoed this optimism in a tweet on Sunday, stating, “SHIB. Never Say Never,” subtly hinting at the potential for SHIB’s future inclusion in the reserve. Her statement resonated with many SHIB supporters, who see the token’s expanding ecosystem as a strong argument for its consideration. “I believe that SHIB has one of the best chances of becoming a reserve asset,” said Midnight, the pseudonymous host of the Luckside Crypto YouTube channel. In a Tuesday video, the pundit pointed to SHIB’s resilience during bear markets and its growing ecosystem, which has seen increased partnerships and integrations through Shibarium, the project’s Layer-2 solution, as a key consideration for the meme-coins’ inclusion in the reserve. Midnight further suggested that serious discussions about its inclusion in the reserve could take shape if SHIB surpasses 3-4 million holders and climbs into the top 10 or even top 5 cryptocurrencies. “The more the SHIB ecosystem grows and the holder base expands, the more realistic the conversation about SHIB as a reserve asset becomes,” he added. Notably, the Shiba Inu ecosystem has been actively working to expand SHIB’s utility and mainstream adoption. The team recently introduced the S.H.I.B. (Strategic Hub for Innovation in Blockchain) initiative, which aims to transform the US into the global powerhouse for crypto and blockchain technology. Lucie has also previously underscored the team’s commitment to innovation, highlighting initiatives spanning gaming, a DAO, the metaverse, and blockchain utility projects to strengthen SHIB’s position in the evolving digital economy. Adding to SHIB’s growing prominence, data from Arkham Intelligence reveals that, alongside Bitcoin, Ethereum, Solana, and other major cryptocurrencies, the U.S. government currently holds approximately 54.9 billion SHIB tokens. This significant holding could serve as a strong foundation for a potential SHIB reserve. Despite the excitement surrounding Trump’s proposal, the idea of a U.S. crypto reserve remains contentious within the crypto community. While some view it as a step toward mainstream adoption, critics, particularly Bitcoin maximalists, argue that including smaller tokens could dilute Bitcoin’s perceived dominance as digital gold. Gemini co-founder Tyler Winklevoss has been particularly vocal in opposing a diversified reserve, emphasizing that Bitcoin alone should serve as the foundation for the U.S. strategic crypto holdings. “I have nothing against XRP, SOL, or ADA but I do not think they are suitable for a Strategic Reserve. Only one digital asset in the world right now meets the bar and that digital asset is Bitcoin.” He tweeted Tuesday, adding “An asset needs to be hard money that is a proven store of value like gold.”