BlockNews
  • Crypto
  • Finance
  • Politics
  • Memecoins
  • NFT
  • Technology
  • Opinion
No Result
View All Result
FOLLOW
BlockNews
  • Crypto
  • Finance
  • Politics
  • Memecoins
  • NFT
  • Technology
  • Opinion
No Result
View All Result
BlockNews

Is Shiba Inu’s Bull Run Over? A Look at SHIB and its Recent Decline

by Drop Gorn
December 19, 2024
in Crypto
A A
Is Shiba Inu’s Bull Run Over? A Look at SHIB and its Recent Decline
11
SHARES
Share on TwitterShare on Reddit
  • Shiba Inu (SHIB) has dropped by 15% in the last 2 weeks, with declining burn rates and large transaction volumes signaling continued bearish momentum
  • Reduced exchange reserves and SHIB’s Relative Strength Index (RSI) nearing oversold territory suggest a potential rebound may be on the horizon
  • The meme coin sector as a whole is experiencing a downturn, with the market capitalization down 4% in the last 24 hours

The past two weeks have been tough for Shiba Inu (SHIB) as it experienced a significant drop of 15%. Several factors suggest that SHIB may continue to chart additional price decline in the foreseeable future, which we will explore in this article.

Shiba Inu’s Troubles in the Cryptocurrency Market

The past two weeks have not been easy for Shiba Inu. While leading cryptocurrencies like Bitcoin and Ethereum have seen impressive gains, Shiba Inu hasn’t been so fortunate. Its value has dropped by over 15% during this period, and it currently trades at approximately 0.00002575 per CoinGecko’s data, representing a 6% daily decline.

Factors Leading to Shiba Inu’s Market Struggles

Several factors could be contributing to Shiba Inu’s continued bearish momentum. One such factor is the overall decline in the meme coin sector, which has seen its market capitalization drop by 4% in the last 24 hours. Shiba Inu’s burning mechanism has also shown signs of slowing down, with the burn rate decreasing by almost 70% in the past week. Additionally, Shiba Inu’s large transaction volume, a crucial momentum indicator, has decreased by 42%, indicating potential bearish territory.

Positive Indicators for Shiba Inu’s Future

Despite the current bearish trend, some indicators suggest a potential rebound for Shiba Inu. For instance, the Shiba Inu exchange reserve has recently dropped to levels last seen in the spring of 2021. This shift towards self-custody methods could be considered bullish as it reduces the immediate selling pressure. Additionally, SHIB’s Relative Strength Index (RSI), which measures the speed and change of price movements, has been on a downtrend in the last week. This could suggest a potential buying opportunity, as readings below 30 are often seen as signs of oversold conditions.

Conclusion

In conclusion, while Shiba Inu has been underperforming in the recent weeks, not all hope is lost. Given the current indicators and market conditions, a potential rebound could be on the horizon. However, only time will tell whether Shiba Inu will be able to recover its losses and return to a bullish momentum. As always, investors are advised to conduct their own research before making any investment decisions.

Tags: $SHIBBlockchaincryptoShiba Inu
Tweet3ShareShare4

DON'T MISS THESE! HOT OFF THE PRESS

Is $300K Bitcoin Really Possible? Why Top Experts Say It’s Not as Crazy as It Sounds
Bitcoin

Is $300K Bitcoin Really Possible? Why Top Experts Say It’s Not as Crazy as It Sounds

June 20, 2025
Altcoin ETF Odds Surge: XRP DOGE ADA Nearing Approval Threshold
Cardano

Altcoin ETF Odds Surge: XRP DOGE ADA Nearing Approval Threshold

June 20, 2025
XRP Stuck Below $3 as Network Activity and Open Interest Decline
Crypto

XRP Stuck Below $3 as Network Activity and Open Interest Decline

June 20, 2025
Elon Musk Sparks Brief PEPE Rally With Another Meme Post
Crypto

Elon Musk Sparks Brief PEPE Rally With Another Meme Post

June 20, 2025
XRP Holds Steady Near $2.15 as Market Stagnation Drags On
Crypto

XRP Holds Steady Near $2.15 as Market Stagnation Drags On

June 20, 2025
XRP Positioned for Breakout Amid Global Uncertainty, Analysts Say
Crypto

XRP Positioned for Breakout Amid Global Uncertainty, Analysts Say

June 20, 2025
Load More

Related News

Is $300K Bitcoin Really Possible? Why Top Experts Say It’s Not as Crazy as It Sounds

Is $300K Bitcoin Really Possible? Why Top Experts Say It’s Not as Crazy as It Sounds

June 20, 2025
Altcoin ETF Odds Surge: XRP DOGE ADA Nearing Approval Threshold

Altcoin ETF Odds Surge: XRP DOGE ADA Nearing Approval Threshold

June 20, 2025
XRP Stuck Below $3 as Network Activity and Open Interest Decline

XRP Stuck Below $3 as Network Activity and Open Interest Decline

June 20, 2025
Vladimir Putin Says Global Tensions Edge Toward World War III

Vladimir Putin Says Global Tensions Edge Toward World War III

June 20, 2025
Elon Musk Sparks Brief PEPE Rally With Another Meme Post

Elon Musk Sparks Brief PEPE Rally With Another Meme Post

June 20, 2025
Discord Twitter Youtube TikTok Instagram

BLOCKNEWS.COM

BlockNews

BlockNews.com is your premier source for real-time cryptocurrency, blockchain, and financial market news.

Our mission is to deliver accurate, timely, and insightful information to help both seasoned investors and newcomers navigate the evolving digital economy.

With in-depth analysis, exclusive insights, and up-to-date news, BlockNews.com keeps you informed on the latest trends in crypto, DeFi, NFTs, tech, and beyond.

Stay ahead of the herd with BlockNews.com

RESOURCES

  • About
  • Contact Us
  • Terms and Conditions
  • Privacy Policy

POPULAR TOPICS

$ADA $XRP AI Avalanche Binance Bitcoin Bitcoin ETF blackrock Blockchain BTC Business Cardano Chainlink China Coinbase Coinglass crypto cryptocurrency Crypto Exchange Crypto Regulation DeFi Dogecoin Donald Trump Elon Musk ETF eth ethereum Federal Reserve FTX grayscale Memecoin metaverse Microstrategy NFT NFTs PEPE ripple sec Shiba Inu Solana Stablecoin Technology US Web3 xrp

GET QUICKER UPDATES ON X

© 2022-2025 BlockNews.com - Crypto and NFT news website by Aiur Labs.

No Result
View All Result
  • Home
  • Crypto
  • Memecoins
  • Technology
  • Politics
  • Finance
  • NFT
  • DeFi
  • Opinion

© 2022-2025 BlockNews.com - Crypto and NFT news website by Aiur Labs.