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SHIB: Despite the bearish market trend – community support and possible price gains in view
SHIB: Resilience despite market decline SHIB, the dog-themed meme coin, has been struggling with a bearish trend over the past 30 days. However, despite these challenges, there are 123.27 trillion SHIB that are in profit. According to data from IntoTheBlock, this represents 36.95% of the total token in circulation. Performance and Market Reaction The amount of SHIB that is “in the money” is approximately $1.54 billion. This figure shows that the meme coin continues to thrive despite the current market situation. At the time of this reporting, SHIB is trading at a price of $0.00001252, down 3.01% within…
SHIB: Despite the bearish market trend – community support and possible price gains in view
SHIB: Resilience despite market downturn
SHIB, the dog-themed meme coin, has been struggling with a bearish trend over the past 30 days. However, despite these challenges, there are 123.27 trillion SHIB that are in profit. According to data from IntoTheBlock, this represents 36.95% of the total token in circulation.
Performance and market reactions
The amount of SHIB that is “in the money” is approximately $1.54 billion. This figure shows that the meme coin continues to thrive despite the current market situation. At the time of this reporting, SHIB is trading at $0.00001252, down 3.01% in the last 24 hours. During this time, trading volume decreased by 19.80% to $143.11 million, indicating that SHIB investors did not make active purchases.
Community support and future developments
Amid bearish pressure, SHIB has found support at $0.000012 over the past seven days. This stability could be supported by the decline in tokens in circulation through the burn mechanism. Interestingly, in the last 24 hours, the burn rate has increased by 495%, with over 14 million SHIB deleted.
The amount of “out of the money” SHIB is 59.13% and equals 827.32 trillion SHIB, which is worth about $10.34 billion. Additionally, there are 33.97 trillion SHIB “at the money,” which represents 3.92% and is worth $424.49 million.
A look into the future
Market watchers speculate that SHIB could soon see a surge, fueled by recent interest. A significant inactive Ethereum whale recently acquired over 64 billion SHIB tokens, which analysts see as a bullish signal since whales typically invest in assets with growth potential. Another positive indicator is the blockchain surpassing 1.5 million holders, which is seen as a sign of increasing adoption and continued investor interest and could potentially trigger the next rally.
Overall, the analysis shows that SHIB is experiencing remarkable resilience and support from the community despite bearish market conditions, which cannot rule out the potential for future price increases.