{"id":595952,"date":"2024-03-02T18:00:57","date_gmt":"2024-03-02T18:00:57","guid":{"rendered":"https:\/\/uniquehot.com\/?p=595952"},"modified":"2024-06-11T07:55:58","modified_gmt":"2024-06-11T07:55:58","slug":"shiba-inu-just-ballooned-to-124-whats-pushing-the-price-up","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/shiba-inu-coin\/shiba-inu-just-ballooned-to-124-whats-pushing-the-price-up\/","title":{"rendered":"Shiba Inu Just Ballooned To 124% – What’s Pushing The Price Up?"},"content":{"rendered":"

Shiba Inu (SHIB) has experienced a remarkable surge in recent times, mirroring the broader optimism sweeping the cryptocurrency market. This uptrend coincides with Bitcoin’s impressive rise above $63,000.<\/p>\n

Related Reading: Pepe Coin Soars Over 250% \u2013 Will March Bring More Surprises?<\/a><\/div>\n

Shiba Inu Explodes On The Weekly Timeframe<\/strong><\/h2>\n

The memecoin has witnessed significant gains,<\/a> with a solid 61% jump in a 24-hour timeframe, a more impressive 124% increase over the week, and a stellar 50% growth in the past month.<\/p>\n

\"\"Source: Coingecko<\/pre>\n
Notably, SHIB has finally clawed its way into positive territory for 2023, boasting a 10% gain since February. In addition to this, its market capitalization crossed the $8.5 billion barrier for the first time in a year.<\/p>\n
This bullish momentum is further bolstered by technical indicators. The recent price climb above $0.000014 has demonstrably reignited investor interest, as evidenced by the substantial 75% surge in trading volume. This suggests a potential breakout from a previous consolidation phase and could signal further upward movement if buying pressure persists.<\/p>\n
\"\"SHIB seven-day price rally. Source: Coingecko<\/a><\/pre>\n
Market Strength And Bull Run Potential<\/strong><\/h2>\n
The total market capitalization of cryptocurrencies is nearing $2.5 trillion, a significant milestone. This uptick has fueled speculation among some analysts for a potential bull run, a period of sustained price increases. While past performance doesn’t guarantee future results, this rising market cap does suggest a return of investor confidence.<\/p>\n
<\/p>\n
Bitcoin is now trading at $61.970. Chart: TradingView.com<\/a><\/pre>\n
These often highly volatile assets have experienced explosive price jumps, potentially contributing to a positive feedback loop within the broader market. This “meme coin frenzy” could be a sign of increased retail investor participation, which can be a double-edged sword, driving prices up but also increasing volatility.<\/p>\n
SHIB Investor Sentiment<\/strong><\/h3>\n
An interesting technical indicator is the improvement in Shiba Inu (SHIB) investor sentiment. Data suggests that over 50% of SHIB holders are currently sitting on profits, compared to a mere 10% in September 2022. This shift reflects the positive impact of the recent price increase and could further fuel buying pressure if the trend continues.<\/p>\n
Shifting Tides<\/strong><\/h3>\n
Meanwhile, on-chain data from Lookonchain indicates a sizeable investor, commonly referred to as a “whale,” has made a strategic shift in their holdings. This whale liquidated nearly 2 trillion PEPE tokens, profiting $3.5 million. This divestiture suggests the whale perceived PEPE to be nearing a price peak or no longer aligned with their investment goals.<\/p>\n
\"\"<\/p>\n
Related Reading: BNB Barrels Past $400, As Binance TVL Nears $5 Billion \u2013 Details<\/a><\/div>\n
Following the PEPE sale, the whale reinvested a portion, $893,000, into Shiba Inu (SHIB). This strategic allocation of 76 billion SHIB tokens suggests the whale anticipates potential growth in SHIB’s price. However, it’s important to remember that this is a singular instance.<\/p>\n
Featured image from Pexels, chart from TradingView<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"
Shiba Inu (SHIB) has experienced a remarkable surge in recent times, mirroring the broader optimism sweeping the cryptocurrency market. This uptrend coincides with Bitcoin’s impressive rise above $63,000. Related Reading: Pepe Coin Soars Over 250% \u2013 Will March Bring More Surprises? Shiba Inu Explodes On The Weekly Timeframe The memecoin has witnessed significant gains, with a solid 61% jump in a 24-hour timeframe, a more impressive 124% increase over the week, and a stellar 50% growth in the past month. Source: Coingecko Notably, SHIB has finally clawed its way into positive territory for 2023, boasting a 10% gain since February. In addition to this, its market capitalization crossed the $8.5 billion barrier for the first time in a year. This bullish momentum is further bolstered by technical indicators. The recent price climb above $0.000014 has demonstrably reignited investor interest, as evidenced by the substantial 75% surge in trading volume. This suggests a potential breakout from a previous consolidation phase and could signal further upward movement if buying pressure persists. SHIB seven-day price rally. Source: Coingecko Market Strength And Bull Run Potential The total market capitalization of cryptocurrencies is nearing $2.5 trillion, a significant milestone. This uptick has fueled speculation among some analysts for a potential bull run, a period of sustained price increases. While past performance doesn’t guarantee future results, this rising market cap does suggest a return of investor confidence. Bitcoin is now trading at $61.970. Chart: TradingView.com These often highly volatile assets have experienced explosive price jumps, potentially contributing to a positive feedback loop within the broader market. This “meme coin frenzy” could be a sign of increased retail investor participation, which can be a double-edged sword, driving prices up but also increasing volatility. SHIB Investor Sentiment An interesting technical indicator is the improvement in Shiba Inu (SHIB) investor sentiment. Data suggests that over 50% of SHIB holders are currently sitting on profits, compared to a mere 10% in September 2022. This shift reflects the positive impact of the recent price increase and could further fuel buying pressure if the trend continues. Shifting Tides Meanwhile, on-chain data from Lookonchain indicates a sizeable investor, commonly referred to as a “whale,” has made a strategic shift in their holdings. This whale liquidated nearly 2 trillion PEPE tokens, profiting $3.5 million. This divestiture suggests the whale perceived PEPE to be nearing a price peak or no longer aligned with their investment goals. Related Reading: BNB Barrels Past $400, As Binance TVL Nears $5 Billion \u2013 Details Following the PEPE sale, the whale reinvested a portion, $893,000, into Shiba Inu (SHIB). This strategic allocation of 76 billion SHIB tokens suggests the whale anticipates potential growth in SHIB’s price. However, it’s important to remember that this is a singular instance. Featured image from Pexels, chart from TradingView<\/p>\n","protected":false},"author":557,"featured_media":595978,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[92559],"tags":[84471,4735,3505,83668,83667],"class_list":["post-595952","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-shiba-inu-coin","tag-meme-coin","tag-price-action","tag-price-analysis","tag-shib","tag-shiba-inu"],"acf":[],"yoast_head":"\nShiba Inu Just Ballooned To 124% - What's Pushing The Price Up?<\/title>\n<meta name=\"description\" content=\"Shiba Inu (SHIB) has experienced a remarkable surge in recent times, mirroring the broader optimism sweeping the cryptocurrency market. 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But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.","sameAs":["jomarjet01"],"url":"https:\/\/uniquehot.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Shiba Inu Just Ballooned To 124% – What’s Pushing The Price Up?","url":"http:\/\/uniquehot.com\/news\/shiba-inu-coin\/shiba-inu-just-ballooned-to-124-whats-pushing-the-price-up\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/shiba-inu-coin\/shiba-inu-just-ballooned-to-124-whats-pushing-the-price-up\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/03\/a_bb6fd4.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/03\/a_bb6fd4.jpg?fit=4928%2C3264"},"articleSection":"Shiba Inu Coin","author":[{"@type":"Person","name":"Christian Encila"}],"creator":["Christian Encila"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["meme coin","price action","price analysis","shib","shiba inu"],"dateCreated":"2024-03-02T18:00:57Z","datePublished":"2024-03-02T18:00:57Z","dateModified":"2024-06-11T07:55:58Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Shiba Inu Just Ballooned To 124% – What’s Pushing The Price Up?\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/shiba-inu-coin\\\/shiba-inu-just-ballooned-to-124-whats-pushing-the-price-up\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/shiba-inu-coin\\\/shiba-inu-just-ballooned-to-124-whats-pushing-the-price-up\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/03\\\/a_bb6fd4.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/03\\\/a_bb6fd4.jpg?fit=4928%2C3264\"},\"articleSection\":\"Shiba Inu Coin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Christian Encila\"}],\"creator\":[\"Christian Encila\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"meme coin\",\"price action\",\"price analysis\",\"shib\",\"shiba inu\"],\"dateCreated\":\"2024-03-02T18:00:57Z\",\"datePublished\":\"2024-03-02T18:00:57Z\",\"dateModified\":\"2024-06-11T07:55:58Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/03\/a_bb6fd4.jpg?fit=4928%2C3264","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/595952"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/557"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=595952"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/595952\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/595978"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=595952"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=595952"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=595952"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}