• bitcoinBitcoin (BTC) $ 108,254.00
  • ethereumEthereum (ETH) $ 2,534.67
  • tetherTether (USDT) $ 0.999999
  • xrpXRP (XRP) $ 2.33
  • bnbBNB (BNB) $ 658.45
  • solanaSolana (SOL) $ 150.91
  • usd-coinUSDC (USDC) $ 0.999891
  • tronTRON (TRX) $ 0.286591
  • dogecoinDogecoin (DOGE) $ 0.168052
  • staked-etherLido Staked Ether (STETH) $ 2,534.86
  • cardanoCardano (ADA) $ 0.584187
  • wrapped-bitcoinWrapped Bitcoin (WBTC) $ 108,178.00
  • hyperliquidHyperliquid (HYPE) $ 39.51
  • wrapped-stethWrapped stETH (WSTETH) $ 3,058.83
  • suiSui (SUI) $ 2.88
  • bitcoin-cashBitcoin Cash (BCH) $ 492.68
  • chainlinkChainlink (LINK) $ 13.49
  • leo-tokenLEO Token (LEO) $ 9.07
  • stellarStellar (XLM) $ 0.252398
  • avalanche-2Avalanche (AVAX) $ 18.00
  • usdsUSDS (USDS) $ 0.999802
  • the-open-networkToncoin (TON) $ 2.77
  • shiba-inuShiba Inu (SHIB) $ 0.000012
  • wrapped-eethWrapped eETH (WEETH) $ 2,715.15
  • hedera-hashgraphHedera (HBAR) $ 0.159924
  • wethWETH (WETH) $ 2,535.90
  • litecoinLitecoin (LTC) $ 85.99
  • whitebitWhiteBIT Coin (WBT) $ 44.95
  • binance-bridged-usdt-bnb-smart-chainBinance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 1.00
  • moneroMonero (XMR) $ 314.18
  • coinbase-wrapped-btcCoinbase Wrapped BTC (CBBTC) $ 108,216.00
  • ethena-usdeEthena USDe (USDE) $ 1.00
  • polkadotPolkadot (DOT) $ 3.39
  • bitget-tokenBitget Token (BGB) $ 4.30
  • uniswapUniswap (UNI) $ 7.34
  • aaveAave (AAVE) $ 285.33
  • pepePepe (PEPE) $ 0.000010
  • daiDai (DAI) $ 1.00
  • pi-networkPi Network (PI) $ 0.459622
  • ethena-staked-usdeEthena Staked USDe (SUSDE) $ 1.18
  • okbOKB (OKB) $ 48.45
  • bittensorBittensor (TAO) $ 322.51
  • aptosAptos (APT) $ 4.45
  • blackrock-usd-institutional-digital-liquidity-fundBlackRock USD Institutional Digital Liquidity Fund (BUIDL) $ 1.00
  • jito-staked-solJito Staked SOL (JITOSOL) $ 183.11
  • nearNEAR Protocol (NEAR) $ 2.16
  • internet-computerInternet Computer (ICP) $ 4.78
  • crypto-com-chainCronos (CRO) $ 0.081318
  • ethereum-classicEthereum Classic (ETC) $ 16.55
  • ondo-financeOndo (ONDO) $ 0.783069
  • susdssUSDS (SUSDS) $ 1.06
  • usd1-wlfiUSD1 (USD1) $ 1.00
  • kaspaKaspa (KAS) $ 0.075877
  • fasttokenFasttoken (FTN) $ 4.44
  • mantleMantle (MNT) $ 0.565693
  • cosmosCosmos Hub (ATOM) $ 4.06
  • gatechain-tokenGate (GT) $ 15.50
  • vechainVeChain (VET) $ 0.020552
  • fetch-aiArtificial Superintelligence Alliance (FET) $ 0.667100
  • official-trumpOfficial Trump (TRUMP) $ 8.61
  • bonkBonk (BONK) $ 0.000022
  • skySky (SKY) $ 0.078328
  • polygon-ecosystem-tokenPOL (ex-MATIC) (POL) $ 0.184332
  • ethenaEthena (ENA) $ 0.259019
  • lombard-staked-btcLombard Staked BTC (LBTC) $ 107,486.00
  • render-tokenRender (RENDER) $ 3.16
  • arbitrumArbitrum (ARB) $ 0.328809
  • filecoinFilecoin (FIL) $ 2.27
  • binance-peg-wethBinance-Peg WETH (WETH) $ 2,538.83
  • jupiter-perpetuals-liquidity-provider-tokenJupiter Perpetuals Liquidity Provider Token (JLP) $ 4.49
  • algorandAlgorand (ALGO) $ 0.175350
  • worldcoin-wldWorldcoin (WLD) $ 0.872557
  • usdtbUSDtb (USDTB) $ 0.999775
  • first-digital-usdFirst Digital USD (FDUSD) $ 0.998378
  • sei-networkSei (SEI) $ 0.255533
  • binance-staked-solBinance Staked SOL (BNSOL) $ 160.34
  • kucoin-sharesKuCoin (KCS) $ 10.98
  • usdt0USDT0 (USDT0) $ 1.00
  • jupiter-exchange-solanaJupiter (JUP) $ 0.439455
  • kelp-dao-restaked-ethKelp DAO Restaked ETH (RSETH) $ 2,657.61
  • nexoNEXO (NEXO) $ 1.21
  • spx6900SPX6900 (SPX) $ 1.29
  • rocket-pool-ethRocket Pool ETH (RETH) $ 2,888.68
  • fartcoinFartcoin (FARTCOIN) $ 1.18
  • flare-networksFlare (FLR) $ 0.016430
  • celestiaCelestia (TIA) $ 1.58
  • polygon-bridged-usdt-polygonPolygon Bridged USDT (Polygon) (USDT) $ 0.999938
  • xdce-crowd-saleXDC Network (XDC) $ 0.065110
  • injective-protocolInjective (INJ) $ 10.45
  • binance-bridged-usdc-bnb-smart-chainBinance Bridged USDC (BNB Smart Chain) (USDC) $ 1.00
  • blockstackStacks (STX) $ 0.649495
  • sonic-3Sonic (S) $ 0.308061
  • virtual-protocolVirtuals Protocol (VIRTUAL) $ 1.49
  • mantle-staked-etherMantle Staked Ether (METH) $ 2,700.58
  • syrupusdcSyrupUSDC (SYRUPUSDC) $ 1.11
  • stakewise-v3-osethStakeWise Staked ETH (OSETH) $ 2,663.57
  • optimismOptimism (OP) $ 0.541005
  • pax-goldPAX Gold (PAXG) $ 3,329.82
  • pudgy-penguinsPudgy Penguins (PENGU) $ 0.014587
  • solv-btcSolv Protocol BTC (SOLVBTC) $ 108,191.00
  • arbitrum-bridged-wbtc-arbitrum-oneArbitrum Bridged WBTC (Arbitrum One) (WBTC) $ 108,152.00
  • story-2Story (IP) $ 3.13
  • wbnbWrapped BNB (WBNB) $ 659.02
  • kaiaKaia (KAIA) $ 0.149693
  • paypal-usdPayPal USD (PYUSD) $ 0.999691
  • renzo-restaked-ethRenzo Restaked ETH (EZETH) $ 2,657.78
  • dogwifcoindogwifhat (WIF) $ 0.847479
  • clbtcclBTC (CLBTC) $ 109,014.00
  • the-graphThe Graph (GRT) $ 0.083549
  • tether-goldTether Gold (XAUT) $ 3,321.56
  • flokiFLOKI (FLOKI) $ 0.000082
  • vaultaVaulta (A) $ 0.495771
  • jupiter-staked-solJupiter Staked SOL (JUPSOL) $ 168.85
  • pancakeswap-tokenPancakeSwap (CAKE) $ 2.26
  • immutable-xImmutable (IMX) $ 0.416935
  • msolMarinade Staked SOL (MSOL) $ 196.68
  • liquid-staked-ethereumLiquid Staked ETH (LSETH) $ 2,740.46
  • ousgOUSG (OUSG) $ 111.69
  • theta-tokenTheta Network (THETA) $ 0.691504
  • superstate-short-duration-us-government-securities-fund-ustbSuperstate Short Duration U.S. Government Securities Fund (USTB) (USTB) $ 10.74
  • curve-dao-tokenCurve DAO (CRV) $ 0.503134
  • usdx-money-usdxStables Labs USDX (USDX) $ 0.998333
  • lido-daoLido DAO (LDO) $ 0.731180
  • jito-governance-tokenJito (JTO) $ 1.87
  • galaGALA (GALA) $ 0.014149
  • ondo-us-dollar-yieldOndo US Dollar Yield (USDY) $ 1.09
  • wrapped-hypeWrapped HYPE (WHYPE) $ 39.47
  • zcashZcash (ZEC) $ 38.25
  • saros-financeSaros (SAROS) $ 0.234203
  • iotaIOTA (IOTA) $ 0.158792
  • ethereum-name-serviceEthereum Name Service (ENS) $ 18.51
  • bittorrentBitTorrent (BTT) $ 0.00000061
  • the-sandboxThe Sandbox (SAND) $ 0.244711
  • solv-protocol-solvbtc-bbnSolv Protocol Staked BTC (XSOLVBTC) $ 107,753.00
  • raydiumRaydium (RAY) $ 2.20
  • jasmycoinJasmyCoin (JASMY) $ 0.012141
  • aerodrome-financeAerodrome Finance (AERO) $ 0.683101
  • usual-usdUsual USD (USD0) $ 0.997800
  • super-oethSuper OETH (SUPEROETH) $ 2,533.58
  • tbtctBTC (TBTC) $ 108,242.00
  • syrupMaple Finance (SYRUP) $ 0.526622
  • pyth-networkPyth Network (PYTH) $ 0.096683
  • pendlePendle (PENDLE) $ 3.37
  • newton-projectAB (AB) $ 0.008286
  • walrus-2Walrus (WAL) $ 0.397161
  • tezosTezos (XTZ) $ 0.522060
  • l2-standard-bridged-weth-baseL2 Standard Bridged WETH (Base) (WETH) $ 2,535.53
  • mantle-restaked-ethMantle Restaked ETH (CMETH) $ 2,702.89
  • falcon-financeFalcon USD (USDF) $ 1.00
  • cgeth-hashkey-cloudcgETH Hashkey Cloud (CGETH.HASH) $ 2,657.36
  • flowFlow (FLOW) $ 0.327324
  • bitcoin-avalanche-bridged-btc-bAvalanche Bridged BTC (Avalanche) (BTC.B) $ 108,232.00
  • decentralandDecentraland (MANA) $ 0.264675
  • arbitrum-bridged-weth-arbitrum-oneArbitrum Bridged WETH (Arbitrum One) (WETH) $ 2,535.91
  • true-usdTrueUSD (TUSD) $ 0.998384
  • coredaoorgCore (CORE) $ 0.491507
  • bitcoin-svBitcoin SV (BSV) $ 24.89
  • ripple-usdRipple USD (RLUSD) $ 0.999790
  • venomVenom (VENOM) $ 0.230518
  • apecoinApeCoin (APE) $ 0.606893
  • staked-hypeStaked HYPE (STHYPE) $ 39.54
  • bridged-usdc-polygon-pos-bridgeBridged USDC (Polygon PoS Bridge) (USDC.E) $ 0.999898
  • chain-2Onyxcoin (XCN) $ 0.013647
  • thorchainTHORChain (RUNE) $ 1.32
  • dog-go-to-the-moon-runeDog (Bitcoin) (DOG) $ 0.004385
  • beldexBeldex (BDX) $ 0.061159
  • apenftAPENFT (NFT) $ 0.00000044
  • dexeDeXe (DEXE) $ 7.60
  • morphoMorpho (MORPHO) $ 1.36
  • heliumHelium (HNT) $ 2.34
  • binance-peg-dogecoinBinance-Peg Dogecoin (DOGE) $ 0.168171
  • usddUSDD (USDD) $ 1.00
  • kavaKava (KAVA) $ 0.391040
  • based-brettBrett (BRETT) $ 0.042770
  • reserve-rights-tokenReserve Rights (RSR) $ 0.007110
  • hashnote-usycCircle USYC (USYC) $ 1.09
  • starknetStarknet (STRK) $ 0.112755
  • usdbUSDB (USDB) $ 0.998158
  • stader-ethxStader ETHx (ETHX) $ 2,696.67
  • dydx-chaindYdX (DYDX) $ 0.522038
  • movementMovement (MOVE) $ 0.150617
  • neoNEO (NEO) $ 5.48
  • build-onBUILDon (B) $ 0.385954
  • mog-coinMog Coin (MOG) $ 0.00000098
  • compound-governance-tokenCompound (COMP) $ 40.60
  • elrond-erd-2MultiversX (EGLD) $ 13.31
  • mantle-bridged-usdt-mantleMantle Bridged USDT (Mantle) (USDT) $ 0.999655
  • conflux-tokenConflux (CFX) $ 0.073569
  • ecasheCash (XEC) $ 0.000018
  • kaitoKAITO (KAITO) $ 1.51
  • ether-fi-staked-btcEther.fi Staked BTC (EBTC) $ 108,125.00
  • ether-fi-staked-ethether.fi Staked ETH (EETH) $ 2,534.14
  • ether-fiEther.fi (ETHFI) $ 0.970260
  • aioz-networkAIOZ Network (AIOZ) $ 0.305869
  • deepDeepBook (DEEP) $ 0.144733
  • polygon-pos-bridged-dai-polygon-posPolygon PoS Bridged DAI (Polygon POS) (DAI) $ 0.999950
  • eosEOS (EOS) $ 0.496428
  • axie-infinityAxie Infinity (AXS) $ 2.13
  • eigenlayerEigenCloud (prev. EigenLayer) (EIGEN) $ 1.13
  • telcoinTelcoin (TEL) $ 0.003808

Can SHIB price surge 150% as Shiba Inu burn rate rockets over 3,200%?

0 36

Can SHIB price surge 150% as Shiba Inu burn rate rockets over 3,200%?

Shiba Inu price has been in a strong downward momentum after peaking at $0.0000329 in December last year.

Shiba Inu (SHIB) has dropped by 61% and crashed to its lowest level since September 5, 2024.

This crash has coincided with the overall weakness in the crypto industry, especially meme coins. Most meme coins, including the likes of Dogecoin (DOGE), Pepe (PEPE), and Floki (FLOKI) have fallen by double digits.

Shiba Inu price has three potential catalysts that may push it higher in the coming days. First, its burn rate has jumped in the past few days. The daily burn rate rose by 3,253% to 29.3 million on March 8.

This means that the network has incinerated over 410 trillion coins since its inception, leaving the circulating supply at 584 trillion. A token burn is a mechanism where cryptocurrencies are transferred to an inaccessible address.

You might also like: Wonder why Bitcoin dropped following the US BTC reserve launch? Wolf of All Streets podcast host Scott Melker explains

Second, Shiba Inu price has become a bargain, according to the Z score of the Market Value to Realized Value or MVRV indicator. Santiment data shows that the MVRV-Z score has crashed to minus 2.143, its lowest level since August last year. It has fallen from the December high of 0.35.

The last time the MVRV indicator dropped to these levels it triggered a 215% surge to its December highs. That could be a sign that investors will start buying the dip.

Can SHIB price surge 150% as Shiba Inu burn rate rockets over 3,200%?

SHIB MVRV-Z score | Source: Santiment

SHIB technicals

Can SHIB price surge 150% as Shiba Inu burn rate rockets over 3,200%?

SHIB price chart | Source: crypto.news

The daily chart shows that the SHIB price has crashed to a key support level, where it failed to move below four times since July last year. That is a sign that bears are afraid of shorting the coin below that level.

The accumulation and distribution indicator has continued rising, a sign that smart money investors are buying. Also, the Relative Strength Index and the Moving Average Convergence/Divergence (MACD) indicators have formed a bullish divergence pattern.

Additionally, Shiba Inu price has formed a falling wedge pattern, with the two lines about to converge. Therefore, the coin will likely have a strong bullish breakout, with the next target to watch being the December high of $0.00003325, up by 155% from the current level.

Read more: ‘We do not need to be in a hurry’: Powell urges patience in speech

Source

Leave A Reply

Your email address will not be published.