{"id":554596,"date":"2023-10-09T11:00:23","date_gmt":"2023-10-09T11:00:23","guid":{"rendered":"https:\/\/www.ktsl888.com\/?p=554596"},"modified":"2023-10-09T10:00:21","modified_gmt":"2023-10-09T10:00:21","slug":"shiba-inu-stagnation-whats-causing-meme-coins-recent-sluggishness","status":"publish","type":"post","link":"https:\/\/www.ktsl888.com\/news\/shiba-inu-stagnation-whats-causing-meme-coins-recent-sluggishness\/","title":{"rendered":"Shiba Inu Stagnation: What&#8217;s Causing Meme Coin&#8217;s Recent Sluggishness?"},"content":{"rendered":"<p><span style=\"font-weight: 400\">Shiba Inu (SHIB) investors have been caught in a whirlwind of uncertainty for the past month as the cryptocurrency&#8217;s price has stubbornly clung to a narrow range between $0.0000075 and $0.000007. <\/span><\/p>\n<p><span style=\"font-weight: 400\">This protracted period of stagnation has left traders and enthusiasts alike scratching their heads, wondering when the next significant move might occur.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The current SHIB price, as reported by <\/span><a href=\"https:\/\/www.coingecko.com\/en\/coins\/shiba-inu\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">CoinGecko<\/span><\/a><span style=\"font-weight: 400\">, hovers at $0.00000715, representing a modest 1.4% decline over the last 24 hours. Over the span of seven days, the meme coin has dipped by nearly 6%, indicating a gradual erosion of value.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">This pattern of price fluctuations within such a confined range underscores a lack of decisive action from both buyers and sellers, painting a picture of market ambivalence.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/www.ktsl888.com\/news\/xrp-journey-to-0-55-is-a-breakthrough-imminent-in-the-coming-days\/\" target=\"_blank\" rel=\"noopener \">XRP Journey To $0.55: Is A Breakthrough Imminent In The Coming Days?<\/a><\/div>\n<h2><strong>Implications Of A Range-Bound Market For Shiba Inu<\/strong><\/h2>\n<p><span style=\"font-weight: 400\">One can&#8217;t help but wonder about the implications of this seemingly <\/span><a href=\"https:\/\/coingape.com\/markets\/whats-next-for-shib-price-after-35-days-consolidation\/\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">stuck range<\/span><\/a><span style=\"font-weight: 400\">. Given the broader crypto market&#8217;s recent slump, it wouldn&#8217;t be surprising to see SHIB test the lower echelon of this range, potentially signaling an extension of its bearish undertones. <\/span><\/p>\n<p><span style=\"font-weight: 400\">With the larger market sentiment in a state of flux, SHIB&#8217;s fate remains intertwined with the broader crypto landscape.<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full\" src=\"https:\/\/www.tradingview.com\/x\/4YLUGlzV\/\" width=\"2475\" height=\"1179\"><\/p>\n<pre style=\"text-align: center\">SHIB market cap hitting $4.17 billion today. Chart: <a href=\"https:\/\/www.tradingview.com\/chart\/ajrdy9Lf\/\" target=\"_blank\" rel=\"noopener nofollow\">TradingView.com<\/a><\/pre>\n<p><span style=\"font-weight: 400\">The ongoing downtrend in SHIB&#8217;s price can be visually traced to the formation of a falling wedge pattern on the weekly chart. This pattern is characterized by two converging trendlines that serve as dynamic resistances and supports. <\/span><\/p>\n<p><span style=\"font-weight: 400\">While such patterns can sometimes hint at an impending bullish breakout, the prevailing market sentiment suggests that investors should remain cautious and prepared for any outcome.<\/span><\/p>\n<h2><strong>Declining Whale Activity: What Does It Mean?<\/strong><\/h2>\n<p><span style=\"font-weight: 400\">Another <\/span><a href=\"https:\/\/u.today\/shiba-inu-shib-whales-disappear\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">noteworthy development<\/span><\/a><span style=\"font-weight: 400\"> in the SHIB ecosystem is the decline in large network transactions. The number of significant transactions on the SHIB network has dwindled to a mere 20, marking one of the most inactive periods for the meme coin, especially concerning the activity of its large holders. Several factors could be contributing to this sudden drop in whale activity.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/www.ktsl888.com\/news\/bitcoin-price-ready-for-blast-off-as-key-metrics-signal-a-bull-run-top-analyst\/\" target=\"_blank\" rel=\"noopener \">Bitcoin Price Ready For Blast-Off As Key Metrics Signal A Bull Run: Top Analyst<\/a><\/div>\n<p><span style=\"font-weight: 400\">One of the potential reasons might be the waning interest in highly volatile assets like SHIB, particularly as Bitcoin&#8217;s dominance continues to rise within the crypto sphere. As the flagship cryptocurrency asserts its dominance, many investors appear to be realigning their portfolios, moving away from riskier assets to more established ones. <\/span><\/p>\n<p><span style=\"font-weight: 400\">This shift in investor sentiment could explain the reduction in significant SHIB transactions as market participants seek more stability in their cryptocurrency holdings.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The formation of a falling wedge pattern and the decline in large network transactions underscore the challenges facing SHIB&#8217;s price trajectory. SHIB holders and enthusiasts must remain vigilant and adaptable to navigate the ever-changing tides of the digital asset market.<\/span><\/p>\n<p><em>(This site&#8217;s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).<\/em><\/p>\n<p><em><span style=\"font-weight: 400\">Featured image from Shutterstock<\/span><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Shiba Inu (SHIB) investors have been caught in a whirlwind of uncertainty for the past month as the cryptocurrency&#8217;s price has stubbornly clung to a narrow range between $0.0000075 and $0.000007. This protracted period of stagnation has left traders and enthusiasts alike scratching their heads, wondering when the next significant move might occur. The current SHIB price, as reported by CoinGecko, hovers at $0.00000715, representing a modest 1.4% decline over the last 24 hours. Over the span of seven days, the meme coin has dipped by nearly 6%, indicating a gradual erosion of value.\u00a0 This pattern of price fluctuations within such a confined range underscores a lack of decisive action from both buyers and sellers, painting a picture of market ambivalence. Related Reading: XRP Journey To $0.55: Is A Breakthrough Imminent In The Coming Days? Implications Of A Range-Bound Market For Shiba Inu One can&#8217;t help but wonder about the implications of this seemingly stuck range. Given the broader crypto market&#8217;s recent slump, it wouldn&#8217;t be surprising to see SHIB test the lower echelon of this range, potentially signaling an extension of its bearish undertones. With the larger market sentiment in a state of flux, SHIB&#8217;s fate remains intertwined with the broader crypto landscape. SHIB market cap hitting $4.17 billion today. Chart: TradingView.com The ongoing downtrend in SHIB&#8217;s price can be visually traced to the formation of a falling wedge pattern on the weekly chart. This pattern is characterized by two converging trendlines that serve as dynamic resistances and supports. While such patterns can sometimes hint at an impending bullish breakout, the prevailing market sentiment suggests that investors should remain cautious and prepared for any outcome. Declining Whale Activity: What Does It Mean? Another noteworthy development in the SHIB ecosystem is the decline in large network transactions. The number of significant transactions on the SHIB network has dwindled to a mere 20, marking one of the most inactive periods for the meme coin, especially concerning the activity of its large holders. Several factors could be contributing to this sudden drop in whale activity. Related Reading: Bitcoin Price Ready For Blast-Off As Key Metrics Signal A Bull Run: Top Analyst One of the potential reasons might be the waning interest in highly volatile assets like SHIB, particularly as Bitcoin&#8217;s dominance continues to rise within the crypto sphere. As the flagship cryptocurrency asserts its dominance, many investors appear to be realigning their portfolios, moving away from riskier assets to more established ones. This shift in investor sentiment could explain the reduction in significant SHIB transactions as market participants seek more stability in their cryptocurrency holdings. The formation of a falling wedge pattern and the decline in large network transactions underscore the challenges facing SHIB&#8217;s price trajectory. SHIB holders and enthusiasts must remain vigilant and adaptable to navigate the ever-changing tides of the digital asset market. (This site&#8217;s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk). Featured image from Shutterstock<\/p>\n","protected":false},"author":557,"featured_media":554605,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[1144,8686,83767,4735,84473,83667],"class_list":["post-554596","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-btcusd","tag-ethusd","tag-meme-coins","tag-price-action","tag-shib-price","tag-shiba-inu"],"acf":[],"yoast_head":"\n<title>Is Shiba Inu About To Skyrocket? 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He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. 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But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.","sameAs":["jomarjet01"],"url":"https:\/\/www.ktsl888.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Shiba Inu Stagnation: What&#8217;s Causing Meme Coin&#8217;s Recent Sluggishness?","url":"http:\/\/www.ktsl888.com\/news\/shiba-inu-stagnation-whats-causing-meme-coins-recent-sluggishness\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/www.ktsl888.com\/news\/shiba-inu-stagnation-whats-causing-meme-coins-recent-sluggishness\/"},"thumbnailUrl":"https:\/\/www.ktsl888.com\/wp-content\/uploads\/2023\/10\/a-32.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/www.ktsl888.com\/wp-content\/uploads\/2023\/10\/a-32.png?fit=1014%2C568"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Christian Encila"}],"creator":["Christian Encila"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/www.ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["btcusd","ethusd","meme coins","price action","shib price","shiba inu"],"dateCreated":"2023-10-09T11:00:23Z","datePublished":"2023-10-09T11:00:23Z","dateModified":"2023-10-09T11:00:23Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Shiba Inu Stagnation: What&#8217;s Causing Meme Coin&#8217;s Recent Sluggishness?\",\"url\":\"http:\\\/\\\/www.ktsl888.com\\\/news\\\/shiba-inu-stagnation-whats-causing-meme-coins-recent-sluggishness\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/www.ktsl888.com\\\/news\\\/shiba-inu-stagnation-whats-causing-meme-coins-recent-sluggishness\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/www.ktsl888.com\\\/wp-content\\\/uploads\\\/2023\\\/10\\\/a-32.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/www.ktsl888.com\\\/wp-content\\\/uploads\\\/2023\\\/10\\\/a-32.png?fit=1014%2C568\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Christian Encila\"}],\"creator\":[\"Christian Encila\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/www.ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"btcusd\",\"ethusd\",\"meme coins\",\"price action\",\"shib price\",\"shiba inu\"],\"dateCreated\":\"2023-10-09T11:00:23Z\",\"datePublished\":\"2023-10-09T11:00:23Z\",\"dateModified\":\"2023-10-09T11:00:23Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/www.ktsl888.com\/wp-content\/uploads\/2023\/10\/a-32.png?fit=1014%2C568","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.ktsl888.com\/wp-json\/wp\/v2\/posts\/554596"}],"collection":[{"href":"https:\/\/www.ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ktsl888.com\/wp-json\/wp\/v2\/users\/557"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ktsl888.com\/wp-json\/wp\/v2\/comments?post=554596"}],"version-history":[{"count":0,"href":"https:\/\/www.ktsl888.com\/wp-json\/wp\/v2\/posts\/554596\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.ktsl888.com\/wp-json\/wp\/v2\/media\/554605"}],"wp:attachment":[{"href":"https:\/\/www.ktsl888.com\/wp-json\/wp\/v2\/media?parent=554596"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ktsl888.com\/wp-json\/wp\/v2\/categories?post=554596"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ktsl888.com\/wp-json\/wp\/v2\/tags?post=554596"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}