Shiba Inu on Base Kurs SHIB

To understand the challenge of SHIB reaching $1, it’s crucial to examine its current supply and market capitalization. As of now, SHIB has a circulating supply of over 589 trillion tokens. If SHIB were to reach $1 per token, its market capitalization would exceed $589 trillion. This is astronomical figure that dwarfs the combined value of all global assets. How does a market cap of $589 trillion compare to other global assets? Far exceeding global GDP: The global GDP is approximately $96 trillion. SHIB’s market cap at $1 would be more than six times the GDP of the entire world, an unrealistic scenario. Greater than the value of all global stock markets: The total market capitalization of all the world’s stock markets combined is around $100 trillion. A $589 trillion market cap would be nearly six times the value of all global equities. Surpassing the global real estate market: The estimated value of the entire global real estate market is around $280 trillion. SHIB reaching $1 would make its market cap more than twice the value of all real estate worldwide. Larger than the total supply of money: The total supply of money (M1) worldwide is estimated at around $40 trillion. A $589 trillion market cap would mean SHIB is valued at over 14 times the global money supply. No matter how much we would like to see SHIB to hit $1, it is simply not realistic given the valuation comparisons outlined above and assuming the same supply of Shiba coins.$SHIB

Shiba Inu was created as a decentralized, community-driven cryptocurrency inspired by Dogecoin. Unlike traditional cryptocurrencies like Bitcoin or Ethereum, SHIB’s value is largely driven by social media buzz, celebrity endorsements, and the community’s enthusiasm rather than underlying technology or utility. SHIB’s ecosystem includes ShibaSwap, a decentralized exchange, and efforts to build utility around the token, but its core value remains rooted in its meme status and community support.$SHIB

The 4th (and last) indicator confirming a new alt season is Shiba, the 2nd largest meme, which ideally also confirms a breakoutShiba Inu (SHIB) did not breakout yet. It is right now testing its 50% Fibonacci level. Arguably, its chart suggests that it’s a matter of time, either hours or days, until SHIB clears THE most important Fibonacci level which is $.00002345. If and when SHIB moves above this level, it will be the final indicator confirming the new bullish trend in alts. It’s crystal clear – alts started a new bullish wave. This new alt season has legs, and will not peak before June 2025 is our thesis.$SHIB

The meme coin frenzy is back with tokens like DOGE and SHIB leading the charge.$DOGE $SHIB Newcomers such as PEPE and FLOKI are also gaining traction.$PEPE $FLOKI Watch for projects with strong communities and utility driven roadmaps to stand out in this surging sector.

Despite ongoing price consolidation in Shiba Inu (SHIB), the popular second-largest crypto meme coin by market cap has gained significant attention from crypto giants, as reported by the on-chain analytics firm IntoTheBlock. Today, December 18, 2024, IntoTheBlock revealed that the large transaction volume of SHIB has skyrocketed by 238.58% in the past 24 hours. Shiba Inu (SHIB) Bearish Outlook This notable volume appeared as SHIB began experiencing selling pressure and the formation of a bearish price action pattern near a resistance level. However, the meme coin’s bearish outlook emerged during a period when major cryptocurrencies like Bitcoin (BTC) and XRP witnessed notable upside rallies. SHIB Technical Analysis and Upcoming Level According to technical analysis, SHIB has formed a bearish inverted cup and handle price action pattern on the daily time frame and is currently on the verge of a breakdown. However, this is a resistance level where the meme coin has formed this price action pattern. Based on historical price momentum, if SHIB breaks down from the bearish pattern and closes a daily candle below the $0.0000258 level, there is a strong possibility it could drop by 20% to reach the $0.0000206 level in the coming days. However, it has been more than a month since SHIB has experienced any significant price gain or drop; it seems to be in continuous price consolidation. But the recent price action indicates potential downside momentum, selling pressure, and a price decline in the coming days. On the positive side, SHIB’s Relative Strength Index (RSI) currently stands at 55, indicating that it is still below the overbought area. This technical indicator suggests that the asset has enough room to soar in the coming days. Current Price Momentum Currently, SHIB is trading near $0.000026 and has experienced a price decline of 2.65% in the past 24 hours. During the same period, its trading volume dropped by 17%, indicating lower participation from traders and investors amid a bearish outlook. #Shib $SHIB