Cryptonews Price Analysis

Shiba Inu Crashes 6% as $300 Million Volume Sends SHIB Tumbling: Price Analysis

Shiba inu

Crypto Writer

Arslan Butt

Crypto Writer

Arslan Butt

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Arslan Butt is an experienced webinar speaker, market analyst, and content writer specializing in crypto, forex, and commodities. He provides expert insights, trading strategies, and in-depth analysis...

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Last updated:

July 25, 2024

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shiba inu

Shiba Inu’s price has recently experienced a significant downturn, dropping 6% amidst a trading volume of $267.39 million. Currently priced at $0.00001667, the cryptocurrency is seeing a slight recovery, up 2.65% in the last 24 hours.

As Shiba Inu integrates its Shiba Eternity game with the Shibarium blockchain, expectations for the coin’s future performance remain high. This integration transforms digital game cards into blockchain assets, making them tradable and enhancing their value.

With a market cap of $9.81 billion and a circulating supply of 589.27 trillion SHIB coins, the potential for a price rebound is being closely monitored by investors and analysts alike.

Shiba Inu Integrates Shiba Eternity with Shibarium Blockchain for Enhanced Web3 Features

Shiba Inu is nearing the completion of integrating its Shiba Eternity game with the Shibarium blockchain, enhancing its functionality with Web3 features.

Marketing lead Lucie announced that this upgrade transforms digital cards into blockchain assets, making them tradable and increasing their collectibility.

Shiba Inu coin rebounds on news of Shiba Eternity Web3 launch, boosting community optimism. Consider monitoring its progress as it integrates Shibarium for enhanced gameplay and token burns. #crypto

— TheBrightCrypto (@thebrightcrypto) June 20, 2024

The game now includes a competitive ranking system where players progress from White Belt to Grandmaster, with 14 divisions in each 15-day cycle.

Players earn or lose points based on their performance. Gameplay cards are minted as NFTs on Shibarium, providing players with full ownership and the ability to trade their digital assets.

Key points:

Over 10,000 unique Shiboshis heroes with special abilities.
Players build a 30-card deck and manage a “Bark” pool for game moves.
The goal is to deplete the opponent’s stamina to zero to win.
Top players from ranked tournaments qualify for seasonal tournaments with greater rewards.

Shiba Inu Prediction

The Shiba Inu price today is $0.00001667, with a 24-hour trading volume of $267.39 million. Shiba Inu has seen a 2.65% increase after experiencing a 6% decline in the previous 24 hours.

It is currently ranked #13, with a live market cap of $9.81 billion. The circulating supply stands at 589.27 trillion SHIB coins, and there is no information on the maximum supply.

On the 4-hour chart, the key price levels to watch include the pivot point at $0.00001585. Immediate resistance is identified at $0.00001754, followed by $0.00001833 and $0.00001900.

On the downside, immediate support is seen at $0.00001525, with further support levels at $0.00001475 and $0.00001422.

The Relative Strength Index (RSI) is currently at 43.86, indicating a bearish momentum but also showing signs of a potential reversal.

The 50-Day Exponential Moving Average (50 EMA) is positioned at $0.00001725, reinforcing the bearish trend.

Shiba Inu Price Prediction – Source: Tradingview

A bullish engulfing candle on the 4-hour timeframe suggests a potential bullish reversal. However, the overall technical indicators, including the 50 EMA and RSI, still support a bearish bias.

Conclusion: The Shiba Inu price has recovered above the $0.00001585 level, indicating a slight bullish sentiment.

Alternative Meme Tokens for Significant Gains

Traders seeking quick and substantial profits might explore newer alternatives, including tokens in presales.

One promising token is PlayDoge (PLAY), an Ethereum-based cryptocurrency that recently launched its presale, raising $5.86 million of its $6.45 million goal.

PlayDoge stands out with its Doge-themed, Tamagotchi-style game featuring crypto-enabled play-to-earn mechanics. Players can breed, trade, and take their virtual Shiba Inu dogs on missions, earning PLAY tokens. The token has a max supply of 9.4 billion, and the current presale price is $0.00522 per token.

Current Status: $5.86 million raised
Token Supply: 9.4 billion PLAY

Additional game details will be released soon, but interested parties can participate in the presale on the PlayDoge website. Early investment is advantageous as the presale price increases with each stage, potentially leading to significant gains once the game launches and is listed on exchanges.

Visit PlayDoge Now

Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.