• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Shiba Inu Growth Obstacles: Key Reasons

user avatar

by Giorgi Kostiuk

9 months ago

Despite positive market trends, Shiba Inu's price has decreased by 55% since December. Blockchain data analysis may help uncover the reasons behind this situation.

Recent Trends in Shiba Inu

The Shiba Inu token (SHIB) has significantly declined since December, reaching almost yearly lows and showing no signs of recovery even during overall market positivity.

Blockchain Data Analysis

According to IntoTheBlock, 46,240 addresses accumulated 549.56 trillion Shiba Inu tokens in the $0.000014 - $0.000019 range. These tokens are underwater as the current price stands at $0.0000135.

Impact of Token Burning

Out of the total 549.56 trillion tokens, about 410.43 trillion are in the burn address used by Vitalik Buterin in 2021, indicating that a significant portion of tokens acts as market resistance.

The analysis of the Shiba Inu situation highlights the importance of understanding blockchain's role in evaluating market movements. Current resistance complicates the cryptocurrency's growth.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

Trump-Linked Venture Purchases Bitmain Hardware Amid Scrutiny

chest

A venture linked to Donald Trump has purchased thousands of Bitmain mining rigs, drawing attention to the ongoing investigation into the company's hardware.

user avatarMaya Lundqvist

Robert Kiyosaki Sells $225 Million in Bitcoin for New Investments

chest

Robert Kiyosaki disclosed the sale of $225 million worth of Bitcoin to invest in two surgery centers and a billboard business, emphasizing a strategy of converting crypto gains into cash flow assets.

user avatarLeo van der Veen

Future of Creator Tokens at Risk Due to Exploitation

chest

The exploitation of Jesse Pollak's token launch raises concerns about the future of creator tokens.

user avatarAisha Farooq

The Rise of Snipers in Cryptocurrency Token Launches

chest

Token launch snipers have become a significant concern in the cryptocurrency space, employing sophisticated techniques to gain unfair advantages over regular investors.

user avatarTenzin Dorje

Exploitation of Jesse Pollak's Token Launch by Snipers

chest

Exploitation of Jesse Pollak's token launch on the Zora platform by professional snipers who took advantage of system vulnerabilities.

user avatarLi Weicheng

Stellar and Bitcoin Cash Respond to Current Market Pressures

chest

Stellar and Bitcoin Cash are currently navigating through market challenges, with Stellar trading near crucial support levels while Bitcoin Cash shows signs of potential upside.

user avatarBayarjavkhlan Ganbaatar

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.