Shiba Inu Price Prediction As SHIB Jumps On 5,800% Burn Rate Surge And This Dog-Themed Meme Coin Challenger Races Towards $2M

The
Shiba
Inu
price


jumped

more
than
3%
in
the
past
24
hours
to
trade
at
$0.00002334
as
of
7:45
a.m.
EST
as
investors
enter
an
accumulation
drive
of
the
meme
coin.

SHIB’s
pump
comes
after
over
26
million
tokens
were
burned
in
the
past
24
hours,
according
to
the
SHIB
burn
tracking
platform,
Shibburn.
This
was
a
more
than
5,800%
increase
in
the
number
of
tokens
burned
during
the
previous
24-hour
cycle.

HOURLY
SHIB
UPDATE$SHIB
Price:
$0.00002344
(1hr
-0.32%
▼
|
24hr
3.12%
▲
)
Market
Cap:
$13,802,453,499
(3.13%
▲)
Total
Supply:
589,273,720,061,458

TOKENS
BURNT
Past
24Hrs:
26,430,838
(5803.56%
▲)
Past
7
Days:
160,003,103
(147.24%
▲)

—
Shibburn
(@shibburn)

May
10,
2024

The
was
also
a
147%
uptick
in
the
amount
of
tokens
burned
over
the
last
week.

The
Shiba
Inu
Price
Gets
Rejected
By
Resistance

4-hour
chart
for
SHIB/USD
(Source:


GeckoTerminal)

The


Shiba
Inu

price
was
able
to
break
out
of
a
short-term
negative
channel
in
the
last
24
hours.
It
then
attempted
to
overcome
the
$0.00002393
resistance,
but
was
rejected
by
the
mark.

As
a
result,
the
meme
coin’s
price
might
be
at
risk
of
correcting
down
to
the
immediate
support
at
$0.00002228.
Continued
sell
pressure
should
SHIB
reach
this
key
price
point
could
then
lead
to
it
falling
below
this
mark.
The
Shiba
Inu
price
might
subsequently
fall
to
as
low
as
$0.00002050.

On
the
other
hand,
a
4-hour
candle
close
above
$0.00002393
could
invalidate
the
bearish
thesis.
In
this
alternative
scenario,
traders
might
enter
into
a
long
position
for
the
altcoin.
With
the
backing
of
this
influx
of
bullish
volume,
SHIB
could
climb
to
$0.00002571
in
the
short
term.

Technical
indicators
on
SHIB’s
4-hour
chart,
combined
with
a
spike
in
sell
volume,
suggests
the
Shiba
Inu
price
might
drop
in
the
next
12
hours.
Both
the
Relative
Strength
Index
(RSI)
and
Moving
Average
Convergence
Divergence
(MACD)
indicators
are
flagging
bearish.

In
the
last
4
hours,
there
has
been
a
spike
in
sell
volume.
Meanwhile,
it
seems
SHIB’s
positive
trend
has
come
to
an
end.
This
is
evident
by
the
narrowing
gap
between
the
MACD
and
MACD
Signal
line.

The
Shiba
Inu
Price
Might
Enter
A
Bearish
Trend
Soon

Although
the
MACD
is
currently
positioned
bullishly
above
the
Signal
line,
the
former
collapsing
towards
the
latter
warns
that
SHIB
might
enter
a
new
negative
cycle. 

Traders
and
investors
will
want
to
watch
for
a
cross
between
the
MACD
and
MACD
Signal
lines
in
the
next
24
hours.
If
this
happens,
it
could
confirm
that
SHIB
has
entered
a
new
bearish
trend.

Concurrently,
the
RSI
on
SHIB’s
4-hour
chart
has
started
to
slope
negatively
towards
oversold
territory.
It
has
also
dipped
slightly
below
50,
which
indicates
that
sellers
have
a
bit
more
strength
than
buyers. 

Should
bears
build
and
capitalize
on
this
strength
against
their
bullish
counterparts,
they
might
drag
the


Shiba
Inu

price
down.
This
could
lead
to
the
meme
coin
falling
to
the
aforementioned
$0.00002228
safety
net.

SHIB’s
recent
rejection
from
resistance
could
push
traders
to
search
for
trade
opportunities
elsewhere.
One
opportunity
with
potential
that
investors
might
pivot
to
is


WienerAI,
which
has
already
raised
more
than
$1.4
million
via
its
presale. 

An
AI
Trading
Companion

WienerAI
is
the
latest
canine-themed
crypto
to
enter
the
vibrant
meme
coin
ecosystem.
What
separates
the
project
from
its
competitors
is
the
unmatched
utility
WienerAI
brings
to
the
market. 

Pls
don’t
miss
out.

PRICE
GOES
UP
IN
ONE
DAY!

The
time
is
NOW
????????????

pic.twitter.com/J0FyqI0hAX

—
WienerAI
(@WienerDogAI)

May
6,
2024

Through
sophisticated
AI
models,
WienerAI
serves
as
a
loyal
companion
to
crypto
traders
and
investors.
Not
only
can
the
intelligent
models
sniff
out
potential
trade
opportunities,
they
can
also
help
users
make
more
informed
investment
decisions.

Within
the
WienerAI
ecosystem,
investors
can
also
utilize
the
project’s
seamless
swap
platform
and
take
advantage
of
the
project’s
MEV
protection.
What’s
more,
all
of
this
is
available
with
zero
fees.

A
Potential
100X
Opportunity

Some
analysts
are
bullish
on
the
meme
coin,
with
the
99Bitcoins
YouTube
channel
speculating
that
the
altcoin
could
be
the
next
100X
opportunity.

Investors
that
want
to
buy
the
crypto
at
this
early
stage
can
do
so
through
the
project’s
official
website.

Selling
for
$0.000705,
the
crypto
can
be
bought
using
either
ETH,
USDT,
BNB
or
bank
card
with
the
simple
widget
embedded
on
the
site.

Investors
will
want
to
hurry,
because
the
crypto’s
price
is
set
to
increase
in
less
than
19
hours.
Another
reason
to
act
fast
is
that
the
653%
annual
staking
yield
that
it
offers
to
presale
buyers
will
reduce
with
time.

Purchase
and
stake
WienerAI
here
for
up
to
655%
in
annual
rewards.

Related
Articles: