Shiba Inu (SHIB) the top meme coin is showing strong bullish potential with a confirmed double-bottom pattern and rising open interest. Shiba Inu (SHIB) Price Prediction for February 23 After a notable price drop following Bybit's $1.4 billion crypto heist, the overall cryptocurrency market appears to be recovering.

A single transaction totaling 13,046,414 SHIB has recently caught the attention of the Shiba Inu community.

In the last seven days, Shiba Inu (SHIB) has dropped in value by a significant 8.09%. The dog-themed meme coin has fallen more profound in the previous 30 days, declining by 22.81%.

Cryptocurrency prices fell in the early Saturday trading session, with major cryptocurrencies XRP, Dogecoin (DOGE), Shiba Inu (SHIB) and Cardano (ADA) all in red. Traders had reacted to an over $1.5 billion heist of the Bybit exchange, which analysts claim was the biggest crypto theft ever.

Cryptocurrency analyst and trader Ali Martinez has shared a chart provided by the on-chain data aggregator Santiment.

Shiba Inu price remains bullishly eyed by traders and investors despite the broader market volatility as its burning chronicles constantly kill supply. The latest burn metrics indicated that nearly 128 million SHIB was burnt over the past week.

On-chain data shows Bitcoin (CRYPTO: BTC) has maintained its strength comparatively to overall crypto market volatility as a major market move may be imminent. What Happened: In a post on X on Friday, analytics provider Glassnode showed meme coins experiencing sharp declines, with TRUMP (CRYPTO: TRUMP) dropping by 33.1% and Shiba Inu (CRYPTO: SHIBA) falling by 27.9%.

Frog-themed cryptocurrency PEPE rose 6% alongside the larger crypto market in the early Friday session on news that the U.S. Securities and Exchange Commission (SEC) is set to drop charges against the Coinbase crypto exchange.

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Rexas Finance is emerging as a meme coin contender, poised to surpass PEPE and change the DeFi market. #partnercontent

The market intelligence platform IntoTheBlock has revealed how Pepe & other memecoins are currently going through a decline in on-chain activity.

A new player is capturing the attention of investors tired of chasing outdated memecoins. Mutuum Finance (MUTM), priced at just $0.01 in the opening phase of its presale, has already raised over $1 million from more than 1,900 holders.

Pepe coin has entered a bear market this year after plunging 65% from its all-time high. Pepe (PEPE), the second-biggest Ethereum (ETH) meme coin after Shiba Inu (SHIB), has plunged to the key support at $0.000010.

Shiba Inu has faced significant challenges in recent months, failing to break free from its ongoing downtrend. Despite the altcoin's struggles, recent investor activity indicates a potential shift.

One of the biggest resistance levels in Shiba Inu's recent trading history is currently in the market. It may be difficult for the asset to break through because more than 515 trillion SHIB tokens are positioned at a critical price level.

A total of 20,423,263 SHIB have been shifted in one swoop, attracting the attention of the Shiba Inu community.

Shiba Inu price is gearing up for a potential 300% surge as it holds firm above strong support. The leading assets within the crypto market demonstrate a recovery as the broader market experiences small improvements.

Technical analysis shows Shiba Inu breaking out of a Falling Wedge pattern with increased volume, while whale activity and declining futures interest create mixed market dynamics that traders are closely monitoring.

Glauber Contessoto, popularly known as SlumDOGE Millionaire , advocated buying ‘conviction plays' like frog-themed Pepe (CRYPTO: PEPE) on Thursday, amid a broader slump in the meme coin market. What Happened: SlumDOGE Millionaire encouraged his X followers to seize the opportunity presented by the ongoing correction to invest in meme coins “like there's no tomorrow.

Shiba Inu price has recently broken out of a Falling Wedge pattern, a formation commonly recognized as a bullish reversal signal in technical analysis. The pattern is characterized by a downward consolidation with lower highs and lower lows, which eventually leads to a meme coin rally breakout.

The recent market decline has made it difficult for Shiba Inu to regain its bullish momentum. Technical indicators, however, point to the possibility of a golden cross formation developing earlier than anticipated, which could support a robust recovery for SHIB despite the uncertainty.

The PEPE price is currently trading within a Falling Wedge pattern, a historically bullish indicator that suggests an imminent breakout. A crypto analyst predicts that a decisive move above key resistance levels could trigger a 150% rally towards new all-time highs for PEPE.

Data shows the Dogecoin Open Interest has seen a large drop recently. Here's how the trend has compared for Shiba Inu and other memecoins.

Shiba Inu dips to $0.00001514, but traders target $0.000078 by summer, while Panshibi sparks meme coin speculation. #partnercontent

The Pepe price has been navigating extreme volatility throughout February, but recent whale activity may be hinting toward a bottom. The post PEPE Trading Volume Explodes 164% – Are Whales Preparing for $1 PEPE? appeared first on Cryptonews.

Shiba Inu (SHIB) has shown signs of potential recovery despite facing hurdles, with the price hovering around $0.00001534 at press time. However, for a sustainable rally, Shiba Inu must tackle a significant challenge: the decrease in transaction count and its broader impact on demand.

Dog-themed cryptocurrency Shiba Inu recently experienced a remarkable surge in its burn rate, a strategy aimed at lowering SHIB's total supply while potentially increasing long-term value. However, after a period of increase, Shiba Inu's burn rate has now taken a breather, settling at just 1.97% in the last 24 hours.

Dog-themed cryptocurrency Shiba Inu (SHIB) has been trading down in the last 24 hours; at the time of writing, SHIB was down 0.21% daily to $0.00001538. Weekly, Shiba Inu was recording higher losses, down nearly 7%.

The number of Shiba Inu trillionaires is decreasing in rapid fashion, which could be a signal for the rest of SHIB holders. The on-chain data is certainly not positive, and as large holders decrease their SHIB holdings, the market might see continuous selling pressure.

Shiba Inu could be poised for an uptrend if current level holds but transactions count create a major obstacle.

Pepe (PEPE) price, the frog-themed memecoin, has seen a sharp decline, losing 40% of its value over the past month. After briefly touching $0.000028, the token struggled to maintain momentum and is now facing further downside risks.

The crypto market is having a hard time gaining positive movement, and meme coins are particularly suffering. This has caused the price of PEPE to stabilize within a bearish region for an extended period. Also, on-chain metrics indicate a possible 20% drop in value because buyers couldn't overcome resistance levels.

Shiba Inu (SHIB) - once one of the leading meme coins - is currently stagnating and has been moving in a downward trend for several months in a row. Against this backdrop, the token's popularity is rapidly declining.

Shibarium, the Ethereum-based layer-2 scaling solution for the Shiba Inu ecosystem, has suffered decreased activity in the past couple of days. Daily transactions being processed on the protocol plummeted from 4.77 million on Feb. 14 to just 54,640 on Feb. 17.

According to on-chain analytics platform Glassnode, frog-themed cryptocurrency PEPE has seen a major deleveraging as Futures Open Interest across the meme coin sector has dropped significantly since their peaks.

Most of the coins are coming back to the green zone after a bearish market opening.

Major news just broke out regarding the U.S. wing of the world's largest cryptocurrency exchange, Binance. In the last couple of years, the activity of Binance US, and the black-and-yellow exchange broadly, has been significantly shredded due to regulation and law enforcement implemented by the previous SEC administration.

A new study sheds light on the common phenomenon of cryptocurrency tokens experiencing sharp price declines after achieving all-time highs. The research identifies key factors contributing to both the rise and subsequent fall of popular digital assets like Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH), and Dogecoin (CRYPTO: DOGE).

Shiba Inu Price faces mounting pressure as market corrections continue to impact its performance. The popular meme-based coin has experienced volatility over the past month.

Despite the lack of action on the cryptocurrency market lately, there is still a lot going on behind the scenes of the price charts, especially in the on-chain realm.

The pseudonymous marketing lead of the Shiba Inu team, famous on social media as Lucie, has taken to the X network (formerly popular as Twitter), to issue a crucial message to the SHIB army and assure them that SHIB and all other Shibarium tokens are likely to have a bright future.

Open interest in meme coin futures has significantly decreased as prices have dropped, sparking a debate about the sector's future. What Happened: In a post on X on Feb 19, Glassnode data shows the decrease, with Dogecoin (CRYPTO: DOGE) open interest down by 58.45%, falling from $3.58 billion on Dec. 9, 2024 to $1.49 billion recently.

The meme coins have noted massive volatile trading lately amid a broader crypto market downturn. Notably, top players in the segment like DOGE, PEPE, SHIB, FLOKI, and others have also gone through a topsy-turvy lately, sparking market concerns.

PEPE's breakout hinges on overcoming resistance, with a surge forecasted if key levels hold.

Shiba Inu, once a leading meme coin, is currently facing a prolonged downtrend. The price has continued to struggle with recovery, and the lack of upward momentum is causing concern among both current holders and potential investors.

The market condition has once again turned bearish, pushing several crypto prices down, including PEPE price. However, investors might as well consider these top cryptos in order to earn profits in the days to follow.

Prominent blockchain tracker Shibburn has revealed an impressive rise shown by the SHIB burn rate over the last day. A large amount of meme coins were burned to reached it.

Shiba Inu has finally reached a level that might become a foundation for a proper price reversal. Following the death cross, the price action suggests that SHIB could be around the bottom.