Current price and performance:
* SHIB is currently trading around $0.000015 per (SHIB / USD). (Based on Binance and Crypto.com data)
* The currency has risen by 3.65% in the last 24 hours, and nearly 16% during the month of May.
* The current market cap of SHIB is around $8.5 - $9.03 billion.
* Trading volume over 24 hours was approximately $222.81 million - $439.33 million.
* The burn rate has seen a significant increase, reaching 11,899% in the last 24 hours with around 28.6 million SHIB burned. (Based on Shibburn and TradingView data)
Key news and developments:
* Whale activity and increased trading volume: SHIB has seen a significant rise in whale activity, with over 576 trillion SHIB tokens exchanged in just 24 hours. Trading volume has also quadrupled to 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 network 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, which focuses on supporting cancer patients through NFTs, and new features like futures trading on the "Positions Exchange" platform.
* Burn Rate: The burn rate is seeing massive increases, with over a billion SHIB burned in the past week, and an 11,899% rise in the last 24 hours with over 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 $0.000014 – $0.0000147 level is a key support area. The next resistance is at $0.00001613, and breaking it could lead to a rise towards $0.00002.
* Price predictions for 2025: Analysts expect significant volatility in SHIB's price in 2025, with predictions ranging from a low of around $0.0000137 to a high possibly reaching $0.0000721. Some of the more optimistic predictions indicate the potential for SHIB to reach $0.000032 to $0.00005 by the end of the year, with the possibility of achieving the $0.000045 target in the near term if the bullish 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 relies on community momentum, Shibarium developments, and general cryptocurrency market conditions.
Disclaimer: This information is for news and analytical purposes only and does not constitute investment advice. You should always conduct your own research before making any investment decisions.
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