Current price and performance:
* The price of SHIB is currently trading at around $0.000015 per (SHIB / USD). (Based on data from Binance and Crypto.com)
* The currency has seen an increase of 3.65% in the last 24 hours, and an increase of approximately 16% during the month of May.
* The current market capitalization of SHIB is approximately $8.5 - $9.03 billion.
* Trading volume over 24 hours was approximately $222.81 million - $439.33 million.
* The burn rate has seen a notable increase, reaching 11,899% in the last 24 hours with the burning of approximately 28.6 million SHIB. (Based on data from Shibburn and TradingView)
Key news and developments:
* Whale activity and increased trading volume: SHIB has seen a significant increase in whale activity, with over 576 trillion SHIB tokens exchanged in just 24 hours. Trading volume has also surged fourfold to reach 2.83 trillion SHIB, indicating strong accumulation and renewed interest from investors.
* Shibarium developments:
* Decline in network activity: Despite SHIB's strong performance, Shibarium faces challenges as the number of new daily accounts has sharply declined from 5,111 to less than 100, and active addresses are also decreasing.
* Decentralization priority: The Shibarium team focuses on decentralization, increasing the number of independent nodes to enhance the network's robustness and resistance to control.
* Transaction processing: Shibarium has processed over 800 million transactions and includes 2 million active wallets, proving to be a reliable hub for daily activity.
* Projects on Shibarium: Various projects continue to launch on Shibarium, such as the "Tutti Frutti Women" project that focuses on supporting cancer patients through NFTs, and new features like futures trading on the "Positions Exchange" platform.
* Burn Rate: The burn rate is experiencing massive increases, with more than a billion SHIB burned in the past week, and an increase of 11,899% in the last 24 hours with more than 28 million SHIB burned. This increase is due to manual token burns by the community or whales, and Shibarium activity. The goal is to reduce supply and increase scarcity.
* Technical analysis and forecasts:
* Bullish signals: Technical indicators such as moving averages (50 and 200 days) show an upward trend. The Relative Strength Index (RSI) is in the neutral-bullish zone.
* Resistance and support levels: The level of $0.000014 – $0.0000147 is a key support area. The next resistance is at $0.00001613, and breaking through this level could lead to a rise toward $0.00002.
* Price predictions for 2025: Analysts expect significant fluctuations in the price of SHIB in 2025, with predictions ranging from a minimum of around $0.0000137 to a maximum that could reach $0.0000721. Some of the more optimistic forecasts suggest that SHIB could reach $0.000032 to $0.00005 by the end of the year, with the potential to achieve a target of $0.000045 in the near term if the upward momentum continues.
Summary:
SHIB appears to be in a bullish position currently, supported by significant whale activity, an increase in trading volume, and a rise in the burn rate. However, Shibarium faces some challenges in user growth. The future of SHIB still heavily depends on community momentum, Shibarium's developments, and the overall conditions of the cryptocurrency market.
Disclaimer: This information is for informational and analytical purposes only and does not constitute investment advice. You should always conduct your own research before making any investment decisions.