Tag: cryptocurrencies

Shiba Inu (SHIB) Marketing Lead Teases Collaboration with Shibacals for Potential Surge in Token Burns

Shiba Inu (SHIB), the popular meme cryptocurrency, is generating excitement in the crypto community with hints of a potential surge in token burns. Here’s what we know about this development:

  1. Marketing Lead’s Announcement

Lucie, the marketing specialist for the Shiba Inu ecosystem, recently revealed a collaboration with Shibacals, a project that uses blockchain technology to authenticate physical collectibles[1]. While specific details about the partnership were not disclosed, Lucie teased that they were “cooking up something special” and advised the community to prepare for an increase in burn rates[1].

  1. Recent Burn Rate Surge

The burn rate of Shiba Inu has already seen significant spikes recently:

  • In the last 24 hours, the burn rate surged by 1611.81%, with 17,695,347 SHIB tokens burned in 4 transactions[4].
  • Another report indicates that the burn rate skyrocketed by 3800% on July 2, 2024[7].
  1. Shiba Inu Burn Mechanism

The Shiba Inu burn mechanism is designed to gradually reduce the circulating supply of SHIB tokens over time[8]. This process involves sending tokens to specific “dead” wallets or addresses from which they can never be retrieved, effectively removing them from circulation[2]. The burn process is transparent and can be tracked on the Ethereum blockchain[8].

  1. Impact of Token Burns

Token burns can potentially impact the cryptocurrency in several ways:

  • Scarcity: By reducing the circulating supply, burns can create scarcity, which may increase the value of remaining tokens[8].
  • Price Dynamics: The reduced supply could potentially influence the token’s price, although this is not guaranteed[8].
  • Investor Sentiment: Burns often generate positive sentiment among investors, as they are seen as a way to potentially increase token value[8].
  1. Shiba Inu Burning Portal

The Shiba Inu ecosystem includes a burning portal called ShibBurn, which allows users to burn their SHIB tokens in exchange for rewards[8]. This portal has been integrated into ShibSwap and provides multiple addresses for burning tokens[8].

While these developments are generating excitement in the Shiba Inu community, it’s important to note that the impact of token burns on price and value is not guaranteed. Investors should always conduct their own research and consider the risks involved in cryptocurrency investments.

As the Shiba Inu team continues to work on new initiatives, the community eagerly awaits more details about the “special” project hinted at by the marketing lead.

Citations:
[1] https://www.benzinga.com/markets/cryptocurrency/24/07/39611818/shiba-inu-marketing-lead-hints-at-potential-surge-in-burns-cooking-up-something-special
[2] https://www.shibburn.com
[3] https://www.crypteye.io/burntracker/coins/shiba-inu
[4] https://thecryptobasic.com/2024/07/03/shiba-inu-burn-rate-surges-1600-details/
[5] https://shiba-burn-tracker.com
[6] https://www.reddit.com/r/SHIBArmy/comments/1ba7qux/13_billion_shiba_inu_coin_burned_just_now/
[7] https://coingape.com/shiba-inu-team-hints-major-development-boost-shib-burn/
[8] https://www.tokenmetrics.com/blog/shiba-inu-burn-rate
[9] https://www.forbesindia.com/article/crypto-made-easy/record-number-of-shib-burnt-in-a-single-retail-transaction/76481/1
[10] https://www.tronweekly.com/shiba-inus-optimistic-july-prediction-surge-63/
[11] https://cryptopotato.com/shiba-inu-shib-burn-rate-explodes-by-almost-600-details/
[12] https://tokenpost.com/Shiba-Inu-Community-Urges-Binance-and-Coinbase-for-1-Token-Burn-12102
[13] https://dailyhodl.com/2024/06/14/shib-marketing-lead-hints-at-unreleased-token-shares-update-on-upcoming-shiba-eternity-blockchain-game/
[14] https://lunu.io/news/shiba-inus-burn-rate-explodes-will-prices-skyrocket-next/
[15] https://coinpedia.org/sponsored/shiba-inu-ethereum-and-furrever-tokens-market-impact/

Recent SHIB Token Burn: Price Target Optimism and Expert Opinions

Based on the provided search results, I can offer an analysis of the recent Shiba Inu (SHIB) token burn and its potential impact on the price target. Here’s a comprehensive overview:

Recent SHIB Token Burn:

A significant SHIB token burn has recently occurred, with over 900 million SHIB tokens being destroyed in June 2024[1][2]. This burn represents a substantial reduction in the circulating supply of SHIB tokens, which could potentially impact the token’s value.

Current SHIB Price and Market Status:

As of July 1, 2024, SHIB is trading at approximately $0.00001735, showing a 3.67% increase in the last 24 hours[1]. The token’s current market cap stands at about $10.12 billion, ranking it 13th on CoinMarketCap[3].

Price Target Optimism:

The recent token burn has sparked optimism among SHIB investors regarding a potential price target of $0.00003[1][4]. This target represents a significant increase from the current price, nearly doubling the token’s value.

Factors Contributing to Price Optimism:

  1. Token Burns: The continuous burning of SHIB tokens reduces the circulating supply, potentially increasing scarcity and value[2].
  2. Market Sentiment: The cryptocurrency market has started July 2024 on a bullish note, with global valuations increasing by over 4%[5].
  3. Historical Performance: SHIB has shown significant price volatility in the past, with substantial gains recorded in short periods[9].
  4. Community Support: SHIB has a large and active community, which can contribute to increased adoption and demand[3].

Challenges and Considerations:

  1. Market Volatility: The cryptocurrency market, especially meme coins like SHIB, is known for high volatility[9].
  2. Competition: SHIB faces competition from other meme coins and established cryptocurrencies[6].
  3. Regulatory Environment: Changes in cryptocurrency regulations could impact SHIB’s price and adoption.

Expert Opinions:

Some analysts have made even more bullish predictions. For instance, one expert suggested that SHIB could potentially reach $0.003 if Bitcoin hits $150,000 in the upcoming bull run[10]. However, it’s important to note that such predictions are speculative and should be viewed with caution.

Conclusion:

While the recent 900 million SHIB token burn and overall market sentiment have sparked optimism about reaching the $0.00003 price target, investors should approach this prediction with caution. Cryptocurrency prices are influenced by numerous factors and can be highly volatile. As always, it’s crucial to conduct thorough research and consider your risk tolerance before making investment decisions.

Citations:
[1] https://coingape.com/shiba-inu-news-900m-shib-burn-sparks-optimism-over-0-00003-price-target-ahead/
[2] https://thecryptobasic.com/2024/07/01/unknown-wallet-burns-290m-shiba-inu-as-june-monthly-burn-surpasses-900m/
[3] https://coinmarketcap.com/currencies/shiba-inu/
[4] https://coinmarketcap.com/community/articles/668062ebb244f954c0291650/
[5] https://coinpedia.org/price-analysis/top-ethereum-based-tokens-to-buy-for-this-july/amp/
[6] https://www.coinbase.com/price/shiba-inu
[7] https://tokenpost.com/SHIB-Surges-in-Token-Burns-000003-Price-Target-Grows-Likely-11770
[8] https://coinpedia.org/news/bitcoins-rollercoaster-ride-in-q2-2024-analyzing-the-12-price-drop/amp/
[9] https://www.coindesk.com/price/shiba-inu/
[10] https://www.cryptonews.net/news/analytics/29284939/
[11] https://malaysia.news.yahoo.com/vitalik-buterin-burns-6b-shib-092057759.html
[12] https://www.coingecko.com/en/coins/shiba-inu
[13] https://watcher.guru/news/shiba-inu-may-end-price-prediction-can-shib-reclaim-0-00003
[14] https://coingape.com/binance-warns-of-delisting-these-tokens-price-drop-ahead/
[15] https://crypto.com/price/shiba-inu
[16] https://www.binance.com/en/price-prediction/shiba-inu
[17] https://bitcoinist.com/shiba-inu-burn-rate-shib-price/
[18] https://consent.yahoo.com/v2/collectConsent
[19] https://u.today/mysterious-whale-withdraws-1-million-in-shiba-inu-as-shib-price-targets-000003
[20] https://blockonomi.com/shiba-inus-shib-may-price-outlook-historical-data-suggests-potential-100-pump/

Analyzing the Impact of SHIB Futures Listing on Coinbase Derivatives Exchange

The potential listing of Shiba Inu (SHIB) futures contracts on Coinbase Derivatives Exchange could have several impacts on SHIB’s price, though the exact effects are difficult to predict with certainty. Here’s an analysis of how this development might influence SHIB’s price:

  1. Increased Liquidity and Trading Volume:
    Futures contracts typically increase liquidity and trading volume for an asset. This could lead to more price stability for SHIB in the long term, as increased liquidity often reduces volatility[6].
  2. Institutional Interest:
    The introduction of regulated futures contracts may attract more institutional investors to SHIB. This could potentially increase demand and drive up the price[6].
  3. Short-term Price Volatility:
    In the short term, the news of the futures listing could cause increased price volatility as traders speculate on the potential impact. This could lead to both upward and downward price movements[1].
  4. Market Sentiment:
    The listing on a major platform like Coinbase Derivatives could improve overall market sentiment towards SHIB, potentially leading to increased investor confidence and price appreciation[1].
  5. Price Discovery:
    Futures markets often contribute to more efficient price discovery. This could lead to SHIB’s price more accurately reflecting its market value[6].
  6. Potential for Price Increase:
    Some price predictions suggest that SHIB’s value could increase in the coming months. For example, one forecast indicates that SHIB could reach $0.00002780 by July 1, 2024, which would represent a 59.86% increase from its current price[1].
  7. Long-term Growth Potential:
    While short-term effects may vary, the introduction of futures contracts could contribute to SHIB’s long-term growth potential. Some predictions suggest that SHIB could reach an average price of $0.000042 by 2025[1].
  8. Market Dynamics:
    It’s important to note that SHIB’s price is influenced by various factors beyond just the futures listing. These include overall market trends, investor sentiment, and developments within the Shiba Inu ecosystem[2].

As of June 29, 2024, SHIB’s price is approximately $0.00001687, with a market cap of about $9.94 billion. While the futures listing could potentially drive price growth, it’s crucial for investors to conduct thorough research and consider the high volatility and risks associated with cryptocurrency investments, especially meme coins like SHIB.

Remember, cryptocurrency markets are highly unpredictable, and past performance or predictions do not guarantee future results. Always exercise caution and only invest what you can afford to lose.

Citations:
[1] https://changelly.com/blog/shiba-inu-price-prediction/
[2] https://www.coindesk.com/price/shiba-inu/
[3] https://www.coinbase.com/price/shiba-inu
[4] https://www.binance.com/en/price-prediction/shiba-inu
[5] https://www.forbes.com/advisor/au/investing/cryptocurrency/shiba-inu-price-prediction/
[6] https://cryptorank.io/news/feed/8ac68-coinbase-applies-to-list-shiba-inu-futures
[7] https://www.youtube.com/watch?v=8FixYKGAIHg
[8] https://www.kraken.com/prices/shiba-inu
[9] https://news.shib.io/2024/06/28/coinbase-boosts-shib-etf-prospects-with-shiba-inu-futures-filing-with-cftc/
[10] https://cryptoticker.io/en/shiba-inu-price-prediction-shib-price-crash-soon
[11] https://primexbt.com/for-traders/shiba-inu-price-prediction-forecast/
[12] https://bitcoinist.com/shiba-inu-gets-major-boost-from-coinbase-with-latest-cftc-filing/
[13] https://coingape.com/price-predictions/shiba-inu-shib-price-prediction/
[14] https://news.shib.io/2024/05/24/bullish-shiba-inu-soars-to-new-heights-with-upcoming-perpetual-futures-listing-by-renowned-crypto-etf-custodian/
[15] https://www.coinbase.com/blog/coinbase-derivatives-to-launch-new-cftc-regulated-crypto-derivatives
[16] https://www.benzinga.com/money/shiba-inu-price-prediction
[17] https://www.delta.exchange/futures-guide-shiba-inu
[18] https://coinstats.app/news/ea03911b06851725854e637c60c0af5f0a43a561cdcd6f1c13f9945f5eb84e87_Shiba-Inu-Coinbase-Listing-Could-Spark-Frenzy-Towards-101-Gains
[19] https://coincodex.com/crypto/shiba-inu/price-prediction/

Coinbase to Launch SHIB Futures Contracts: Impact on Cryptocurrency Market

Coinbase, one of the largest cryptocurrency exchanges in the United States, has recently announced plans to list Shiba Inu (SHIB) for futures contracts, along with several other altcoins. This development marks a significant expansion of Coinbase’s derivatives offerings and could potentially impact the cryptocurrency market. Here are the key details:

  1. Coinbase Derivatives Exchange, formerly known as FairX, has submitted an application to the U.S. Commodity Futures Trading Commission (CFTC) to list regulated futures contracts for Shiba Inu (SHIB)[1][2][3].
  2. The proposed product is called “1k Shib Futures (SHB)” and is planned to be listed under a self-certification model[5].
  3. Coinbase Derivatives intends to launch trading for this product on July 15, 2024[5].
  4. The SHB Futures contract specifications include:
  • Contract size: 10 million SHIB
  • Minimum tick size: $0.00001 per token
  • Minimum tick value: $0.10 per contract
  • Position limit: 30,000 SHB Futures (equivalent to 300 billion SHIB tokens)[5]
  1. The contracts will be monthly cash-settled and margined[5].
  2. Final settlement prices will be based on the Market Vector Coinbase 1k Shib benchmark reference rate at 4:00 PM London time[5].
  3. Trading hours for the SHIB contract will be from 5:00 PM to 4:00 PM (CT), Sunday through Friday, with a trading break scheduled for Monday through Thursday from 04:00 PM to 05:00 PM (CT)[5].

In addition to Shiba Inu, Coinbase Derivatives has also submitted applications for futures contracts on four other altcoins:

  1. Stellar Lumen (XLM)
  2. Polkadot (DOT)
  3. Chainlink (LINK)
  4. Avalanche (AVAX)[5][6]

These new futures contracts are also expected to launch on July 15, 2024, alongside the SHIB futures[5][6].

The introduction of these new futures contracts is seen as a significant move by Coinbase to expand its derivatives offerings and provide more options for traders to manage risk, speculate on price movements, and invest with lower upfront capital requirements[6].

It’s worth noting that while this news has generated interest in the cryptocurrency community, it has not significantly impacted the prices of the involved tokens as of the announcement date[6]. As always, investors should conduct thorough research and consider the risks before making any investment decisions in the cryptocurrency market.

Citations:
[1] https://coinstats.app/news/ea03911b06851725854e637c60c0af5f0a43a561cdcd6f1c13f9945f5eb84e87_Shiba-Inu-Coinbase-Listing-Could-Spark-Frenzy-Towards-101-Gains
[2] https://coinmarketcap.com/community/articles/66804cb9d7ae9a73218766f7/
[3] https://bitcoinist.com/shiba-inu-gets-major-boost-from-coinbase-with-latest-cftc-filing/
[4] https://ground.news/article/coinbase-us-plans-to-list-shiba-inu-futures-and-4-other-altcoin-futures
[5] https://thecryptobasic.com/2024/06/29/regulated-futures-for-shiba-inu-filed-with-us-cftc-details/
[6] https://cryptoslate.com/coinbase-to-launch-cftc-regulated-futures-trading-for-5-altcoins/
[7] https://cryptoadventure.com/coinbase-reveals-futures-on-shib-ava-to-deepen-crypto-market-access/

SHIB Cryptocurrency: Flag Pattern Breakout and Potential 240% Rally

The Shiba Inu (SHIB) cryptocurrency is currently generating significant interest due to its recent entry into a “buy zone,” which many analysts believe could precede a substantial price rally.

Current Price and Market Data

As of June 28, 2024, the price of Shiba Inu (SHIB) is approximately $0.00001725 USD, with a market capitalization of around $10.2 billion and a 24-hour trading volume of $224.7 million[1]. The circulating supply of SHIB is 589.27 trillion tokens[1].

Reasons for the Anticipated Rally

Several factors contribute to the optimism surrounding SHIB’s potential price increase:

  1. Technical Indicators: Analysts have identified that SHIB has entered a buy zone after a recent price dip below the $0.000017 support level[3]. This technical setup is often seen as a precursor to a price rally.
  2. Bullish Predictions: Various sources predict significant price increases for SHIB. For instance, some forecasts suggest that SHIB could reach $0.000052, representing a substantial rise from its current levels[2]. Another prediction indicates a potential surge to $0.00008009, which would translate to a 240% increase[5].
  3. Market Sentiment: The overall sentiment in the SHIB market is currently neutral to bullish. Technical indicators show a mix of bullish and bearish signals, but the prevailing sentiment leans towards optimism due to recent market activities and positive news[8].
  4. Flag Pattern Breakout: Analysts have noted the formation of a bullish flag pattern on SHIB’s price chart. This pattern typically indicates a period of consolidation followed by a breakout, which could lead to further upward movement[6][12].

Potential Price Targets

  • Short-term: Analysts are targeting a price of $0.000052 in the near term, supported by strategic price levels and increased investor interest[2].
  • Mid-term: Predictions for mid-2024 suggest that SHIB could reach $0.00008009, driven by market dynamics and investor sentiment[5].
  • Long-term: Some forecasts are even more bullish, with targets as high as $0.000085, contingent on a successful breakout from the current flag pattern[6][12].

Conclusion

Shiba Inu (SHIB) is currently in a buy zone, and multiple indicators suggest that it could be poised for a significant rally. While the exact future price is uncertain, the combination of technical patterns, market sentiment, and bullish predictions points to a potentially strong upward movement in the coming months. Investors should, however, remain cautious and consider the inherent volatility and speculative nature of cryptocurrencies.

Citations:
[1] https://coinmarketcap.com/currencies/shiba-inu/
[2] https://coinpedia.org/news/shiba-inu-price-poised-for-a-massive-rally-as-it-enter-into-buy-zone/
[3] https://bitcoinist.com/shiba-inu-enters-buy-zone/
[4] https://www.coingecko.com/en/coins/shiba-inu
[5] https://watcher.guru/news/shiba-inu-shib-predicted-to-rally-240-heres-when
[6] https://techreport.com/crypto-news/shiba-inu-enters-buy-zone-targets-0-000085-following-flag-breakout-what-next/
[7] https://www.kraken.com/prices/shiba-inu
[8] https://www.newsbtc.com/news/shiba-inu-on-the-verge-of-600-rally-analyst-weighs-in/
[9] https://www.binance.com/en/square/post/10068418888713
[10] https://www.binance.com/en/price/shiba-inu
[11] https://coingape.com/shiba-inu-coin-rises-signaling-further-rally-shib-price-to-hit-0-00002/
[12] https://thecryptobasic.com/2024/06/27/will-shib-go-up-as-shiba-inu-enters-buy-zone-targets-0-000085-upon-flag-breakout/
[13] https://www.coinbase.com/price/shiba-inu
[14] https://watcher.guru/news/shiba-inu-forecasted-to-rally-125-heres-when
[15] https://coinstats.app/news/7c621596eac885b2512f069aa677a687787e23bcd2e3155f7cdba3a1e0b6bb80_Shiba-Inu-SHIB-Enters-Buy-Zone-Amidst-Market-Recovery-Prospects
[16] https://www.coindesk.com/price/shiba-inu/
[17] https://www.youtube.com/watch?v=iZyHlf059p0
[18] https://cryptonews.com/news/shiba-inu-price-set-for-surge-shib-eyes-0-000085-as-it-enters-buy-zone.htm
[19] https://crypto.com/price/shiba-inu

Latest Information: Shiba Inu (SHIB) Delisting Clarified on Binance

There has been some confusion and conflicting reports regarding the status of Shiba Inu (SHIB) on Binance, one of the world’s largest cryptocurrency exchanges. Here is a detailed breakdown of the situation based on the latest information:

Conflicting Reports on Delisting

  1. Delisting Announcements:
  • Some sources have reported that Binance is delisting Shiba Inu (SHIB) along with other cryptocurrencies such as Chainlink (LINK) and Memecoin (MEME) due to declining trading volumes and liquidity issues. This delisting is part of Binance’s periodic review to maintain market quality and protect users[1][11][17].
  • Specifically, Binance announced the removal of the SHIB/TUSD trading pair, among others, effective June 28, 2024, at 03:00 UTC[11][17].
  1. Contradictory Statements:
  • Other sources, including official statements from Binance and community representatives like LucieSHIB, have clarified that Shiba Inu is not being delisted as an asset from the platform. Instead, only specific trading pairs with low liquidity are being removed[2][5].
  • This means that while certain trading pairs involving SHIB are being delisted, SHIB itself remains available for trading on Binance through other pairs.

Market Impact and Reactions

  • Price Movements:
  • Following the delisting announcements, the price of SHIB experienced some volatility. Initially, there was a slight increase in SHIB’s price, but it has since stabilized[11].
  • The broader crypto market has also been experiencing volatility, with significant price movements across various cryptocurrencies, including Bitcoin and Ethereum[3].
  • Community and Investor Sentiment:
  • The Shiba Inu community has been active in addressing the delisting rumors, emphasizing that SHIB remains a viable asset on Binance despite the removal of certain trading pairs[5].
  • Major SHIB holders, or ‘whales,’ have been observed reallocating their capital, potentially signaling strategic shifts in investment within the crypto space[15].

Conclusion

In summary, while Binance is delisting specific trading pairs involving Shiba Inu (SHIB) due to low liquidity and trading volumes, SHIB itself is not being removed from the platform. Users can still trade SHIB through other available pairs on Binance. The delisting of certain pairs is part of Binance’s efforts to maintain a high-quality trading environment and protect its users.

Citations:
[1] https://bitcoinist.com/shiba-inu-binance-delisting/
[2] https://www.binance.com/fr-AF/square/post/10035533665346
[3] https://www.forbes.com/digital-assets/assets/shiba-inu-shib/
[4] https://www.binance.com/en/square/post/4778141833002
[5] https://news.shib.io/2024/06/27/binance-not-delisting-shiba-inu-separating-fact-from-clickbait/
[6] https://www.coinbase.com/price/shiba-inu
[7] https://www.binance.com/ar-BH/square/post/9735646268714
[8] https://www.binance.com/en/square/post/9996191518730
[9] https://www.youtube.com/watch?v=USsNJKcA3ig
[10] https://blockchair.com/news/shiba-inu-caught-in-the-crosshairs-of-binances-crypto-delisting-spree–ddad01919a
[11] http://tokenpost.com/Binance-Delists-Shiba-Inu-Chainlink-and-Five-More-Cryptos-Due-to-Market-Conditions-12134
[12] https://cryptonews.net/news/analytics/29320181/
[13] https://www.linkedin.com/posts/todayq_binance-set-to-delist-these-shib-link-spot-activity-7211716955802591232-lZLg
[14] https://www.binance.com/en/square/post/2847380998953
[15] https://coinedition.com/18m-shiba-inu-crypto-burned-in-hours-shib-whales-move-capital-to-low-cap-altcoin-playdoge/
[16] https://cryptorank.io/news/feed/11c4c-monero-crashes-30-after-binance-includes-xmr-in-altcoin-delisting-spree
[17] https://coinstats.app/news/ec1cf65c0d76439f88d64f58b483efcea8e9f66a4cfcef4afd3329a396b7f0bf_Binance-to-Delist-Shiba-Inu-%28SHIB%29-and-Other-Low-Liquidity-Pairs-on-June-28/
[18] https://economictimes.indiatimes.com/markets/cryptocurrency/shiba-inu-price/cryptodetail/symbol-shib.cms
[19] https://www.binance.com/en/square/post/1781336094273
[20] https://watcher.guru/news/category/altcoins/shiba-inu