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SHIB trade ideas

SHIB : Does SHIBA INU Have a Future?🤔📉Hi Traders, Investors and Speculators of Charts📈 Shiba Inu (SHIB) was initially created as a joke, based on the popular Shiba meme. However, unlike prior meme coins such as Dogecoin, SHIB operates as an ERC-20 token on top of the Ethereum blockchain, which means that the Shiba Inu network has access to a range of decentralized applications (dApps). This is one of the reasons that Shiba Inu is often referred to as the “Dogecoin killer.” There is a fixed supply of one quadrillion SHIB tokens but Shiba Inu utilizes a token burn strategy, including manual and automatic burns, to manage token value and stabilize prices. The current circulating supply of Shiba Inu is 589.28T . There is a larger network of cryptocurrency projects built around Shiba Inu, including: 👉 Shibaswap — a decentralised exchange (DEX) 👉 Shibarium — a layer 2 scaling solution for Ethereum 👉 Shiba Eternity — a play-to-earn (P2E) game 👉 Shib.io — the Shiba Inu metaverse 👉 Shiboshis — a non-fungible token (NFT) collection In terms of future prospective, SHIB offers a unique value proposition as a meme-based cryptocurrency that has real dApps built around it. While most meme coins disappear quickly, Shiba Inu has the potential to continue building a community that can stand the test of time. The fact that Shib is still around and has such a large community has to count for something. But let's talk about the biggest problem and obstacle to the price - the supply. In December 2023, Shiba Inu (SHIB) lead developer Shytoshi Kusama has teased that the project might undertake a massive burn soon. According to Kusama, almost $1.2 million worth of SHIB tokens might face incineration. SHIB's burn rate has taken a back seat in 2023, with sporadic, untimely burns occurring randomly. The effect of this is evident on the chart, as the price fails to make new highs under the pressure of infinite amounts of coins/supply/sellers. 💭My personal take is this - Shiba Inu can be traded, and if a big burn occurs it will definitely be bullish for the price... but for how long? For now, the supply is the biggest downside and until the burn-rate is improved, it's a big chance to take based on a "tease". If you found this content helpful, please remember to hit like and subscribe and never miss a moment in the markets. _______________________ 📢Follow us here on TradingView for daily updates📢 👍Hit like & Follow 👍 CryptoCheck CRYPTOCAP:SHIB BINANCE:SHIBUSDT
CRYPTOCAP:SHIB
by CryptoCheck-
1
Poly Network hackers have sold tokens such as SHIB, COOK, and RFAccording to Lookonchain monitoring, Poly Network hackers have sold 94 billion SHIBs for 360 ETHs, sold 495 million COOKs for 16 ETHs, and sold 15 million RFuels for 27 ETHs. Hackers are transferring assets and 1 ETH to multiple new wallets, likely for sale. According to reports today, according to Paidun monitoring, Poly Network was attacked. Hackers issued additional assets on several chains through Poly, among which nearly 100 million BNB and nearly 10 billion BUSD were issued on the Metis network.
CRYPTOCAP:SHIB
by babs7mo
Daily Renko looks strong, with bullish divergences20x puts this around ATH MC, and another tier jump puts it around 0.01 !! Can we see 5T MC within 2 years? By 2030, could fomo push crypto to insane blowoff top during mass, mainstream adoption, and SHIB jump another tier to 100T before correcting? Talk about ridiculous inflation if this happens… or maybe dollar drops status as world reserve currency by then, and this becomes less strong vs Bitcoin, assuming BTC becomes #1… Of course, continued consolidation could help ensure maximal boost, but also lower nearterm target—but likely stronger longterm growth. #HODL
CRYPTOCAP:SHIBLong
by ogdabber
1
Bullish idea for shibaHello! As these harmonic patterns a are flying through space as projections of themselves…. Both bearish and bullish orientations, competing for control… the shapes of the monsters of human emotion embodied in a 3D graph! And here we are with Shiba… These 3D monsters are leaping up and over a hill, coming at us in space… so the yellow one is the most recent projection on this scale, and the green one just before him. And we could trace him back to his original oscillation pattern, on the second scale at that bottom back in august… his trace and projection is blue. Ill have to zoom back for a screen shot of the original… here: The brightest part of the traces line up with three recent pattern (pink). Keep in mind, this chart doesnt go back tot eh beginning of all crypto… and those big emotional cycles are going to encompass these newer coins too… so make sure to study the whole market! Ok… thats all for tonight… good Luck!
CRYPTOCAP:SHIBLong
by DHLawrence
2