Latest news with #Shibainu
Yahoo
10 hours ago
- Business
- Yahoo
Shiba Inu Slides to Two-Month Low as Trump Threatens Khamenei, Demands Unconditional Surrender
Shiba inu (SHIB), the world's second-largest meme token by market value, faced selling pressure alongside losses in the broader crypto market and U.S. stocks. SHIB fell over 3.5% to 0.00001134, the level last seen on April 9, according to data source CoinDesk. Bitcoin, the leading cryptocurrency by market value, slipped nearly 3% to $103,800. The risk aversion happened after President Donald Trump downplayed reports of his administration seeking truce with Iran and threatened assassination of Iran's Supreme leader Ayatollah Ali Khamenei, calling for IRan's unconditional surrender in the ongoing war with Israel. SHIB's decline follows rejection at the $0.00001230 resistance level Monday, which paved for the sell-off with exceptionally high trading volumes exceeding 1.2 billion tokens. Support had briefly emerged at around $0.00001167 early today, but was eventually pierced by bears, driving prices lower. Market analysts note that SHIB's performance reflects broader cryptocurrency market trends, which continue to be influenced by global economic factors and trade disputes between major economies. As traditional financial markets respond to these tensions, cryptocurrencies like SHIB face increased volatility while traders closely monitor key support and resistance levels for signs of directional movement. Clear rejection at the $0.0000123 resistance level during the 20:00-21:00 timeframe. Aggressive sell-off with exceptionally high volume (1.23B and 1.31B) during the 22:00-00:00 period. Support emerged around $0.00001167, coinciding with high-volume buying interest. Bearish momentum appears to be losing steam as price consolidates in the $0.00001176-$0.00001182 range. Decreasing selling pressure evident in the diminishing volume profile. Increased volatility in the last hour, forming a notable price structure between $0.00001175-$0.00001182. Recovery attempt reached a local high of $0.00001182 at 13:30, accompanied by substantial volume (8.8B). Bullish momentum was short-lived as sellers returned at 13:44, driving price down 3% with exceptional volume (9.7B). Final minutes show consolidation around $0.00001175, with decreasing volatility and volume suggesting exhaustion of selling pressure.
Yahoo
09-06-2025
- Business
- Yahoo
Shiba Inu's Downtrend Intact as Daily Burn Rate Tanks by 63%
Shiba inu (SHIB) remains locked in a downtrend despite recovering from overnight lows, as the sharp drop in the "daily burn" rate has dented deflation prospects. The token has recovered to trade near $0.000012650 at the time of writing, having reached a low of $0.00001234 during the Asian hours. Still, the downtrend identified by trendlines connecting May 12 and May 23 highs and the low reached on May 17 remains intact. SHIB's daily burn rate dropped by 63%, threatening to derail the progress toward deflationary tokenomics, while trading volume surged by 78%. The daily burn rate refers to the number of SHIB tokens permanently destroyed or removed from circulation each day. Token burns are widely used to introduce a deflationary appeal to cryptocurrencies. A deflationary token is a cryptocurrency whose supply is designed to decrease over time, typically through mechanisms like token burning. So, the slower burn rate presents a headwind for SHIB. Still, on-chain data signaled $0.000012 and $0.000013 as potential support zones. Despite the bearish trend, on-chain data reveals a significant concentration of tokens held by investors with a cost basis between $0.000012 and $0.000013, suggesting this may become a heavily defended price zone where trading volumes could spike dramatically. Over the past 24 hours, support emerged at around the 0.00001236 level, with strong buying volume, suggesting accumulation at lower levels. Volume spiked dramatically at 08:02 with over 14.9 billion in trading activity, confirming the bullish momentum that pushed prices to session highs. Price stabilization in the final hours indicates potential consolidation before the next directional move. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
