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SHIB price won’t last longer at current levels according to market analyst “Pepe is Friend,” who suggests the meme coin is approaching a critical support zone. Right now, Shiba Inu trades at $0.00001157, and it’s down 0.6% in 24 hours. The Shiba Inu price forecast indicates this stagnation won’t continue, and analysts are pointing to key technical levels that could trigger the next move. Those wondering whether to buy SHIB now should consider that current price action suggests significant movement is imminent, and at the time of writing, the technical setup looks interesting. Source; CoinGecko Also Read: Shiba Inu Could Hit Dogecoin’s Market Cap by 2027, Analysts Claim Why Shiba Inu Price Won’t Last Source: Watcher.Guru The analyst’s assessment reveals why SHIB price won’t last longer at these levels, and market cap Analysis shows a series of lower highs and also lower lows. At the time of writing, Shiba Inu faces a critical support zone ...

Shiba Inu (SHIB), a popular meme-based altcoin, has experienced a very notable price surge in the last 24 hours. The asset is in the middle of a rally that has driven prices up by 14.40% at press time. The marketing lead of SHIB, ‘Lucie’, revealed that a stablecoin for the Shibarium ecosystem was in the works in an X post earlier today. The SHI Stablecoin: A Key Development for Stability and Utility in the Shibarium Ecosystem The SHI stablecoin is a crucial development within the Shib ecosystem, currently in the works and not yet released. Its introduction is expected to significantly enhance the Shibarium… pic.twitter.com/UyrJgnYR45 — 𝐋𝐔𝐂𝐈𝐄 (@LucieSHIB) September 26, 2024 Over $1 billion in market cap added to SHIB The market reacted to the announcement quite positively — the 14.40% increase in price corresponds to just a little over $1 billion added to SHIB’s market cap in 24 hours. ...

As per the data from Shibburn, the accelerated rate for SHIB token burn has jumped by 15% over the last 24 hours. Crypto burning refers to the process of removing some portion of supply permanently from circulation. This creates a scarcity effect thereby driving the crypto value higher. advertisement Also, the developer activity has significantly contributed to driving the SHIB price higher. Over the past month since July 1, the SHIB price has surged more than 25% so far. Also, with the Shibarium launch nearing, the trading activity on the Shiba Inu blockchain is likely to spike further. Thus, investors can see more price activity in Shioba Inu, going ahead. Binance Increases OTC Trading Limits for Shiba Inu One more reason that’s supporting the Shiba Inu price rally is the crypto exchange Binance increasing the OTC trading limit for SHIB . With Binance being the largest crypto exchange in the world, it will significantly spurt the trading volum...