Shiba Inu (SHIB) is a cryptocurrency token built on the Ethereum platform, launched in 2020. Often referred to as a "meme coin," it has gained significant attention and a dedicated community. This article provides a detailed analysis of SHIB's current market status, historical performance, and key metrics.
Current SHIB Price and Performance
As of the latest data, Shiba Inu is trading at **$0.0000114**, reflecting a minor 24-hour change of **+0.09%**. The token opened today at $0.0000112 and has since experienced a modest increase of approximately 1.69%.
Key Price Data:
- 24-Hour Range: $0.0000101 - $0.0000114
- 52-Week Low: $0.0000101
- 52-Week High: $0.0000333
- All-Time High (ATH): $0.0000725 (currently down -84.30% from this peak)
Market Capitalization and Supply
SHIB holds a prominent position in the crypto market, currently ranked #23 by market capitalization.
- Market Cap: $6,707,494,668
- Circulating Supply: 589,255,151,920,720 SHIB
- Trading Volume (24h): $26,586,457
This trading volume is substantially higher than the average of other cryptocurrencies launched in 2020, which stands around $1.4 million, highlighting SHIB's exceptional liquidity and investor interest.
Technical and Market Analysis
A closer look at the market indicators provides insight into SHIB's current trajectory.
Performance Against Major Assets:
| Timeframe | vs. USD | vs. BTC | vs. ETH |
|---|---|---|---|
| 7 Days | -3.10% | -3.46% | -1.80% |
| 30 Days | -11.51% | -12.71% | -8.37% |
| 1 Year | -33.99% | -60.78% | -5.83% |
Technical Indicators:
The current technical analysis presents a mixed but cautious outlook. Key oscillators like the RSI (14) at 45.49 are neutral, suggesting a balance between buying and selling pressure. However, several moving averages (EMA 10, 20, 50, 100, 200) are indicating a "Sell" signal, pointing toward a prevailing short-term bearish trend.
- Volatility: SHIB has exhibited high volatility over the past year (87.94%), which is characteristic of meme coins.
- ROI (Return on Investment): Historical ROI figures are negative across 3-month (-6.76%), 6-month (-51.34%), and 12-month (-33.65%) periods.
Wealth Distribution
The distribution of SHIB tokens is a critical factor for investors to consider. The concentration among the largest holders is significant:
- Top 10 Addresses: Hold 61.20% of the total supply.
- Top 100 Addresses: Hold 75.00% of the total supply.
It's important to note that many of these top addresses are likely exchange wallets, which hold coins on behalf of millions of users. However, this high concentration level can contribute to price volatility.
Recent News and Community Sentiment
The SHIB community remains active, and recent news headlines reflect the ongoing narrative around the token:
- Despite an influx of new investors, the price has struggled to break out of a month-long downward trend.
- There has been a significant spike in the SHIB burn rate, a community-driven mechanism to reduce supply, which some analysts believe could precede a major price rally.
- Technical charts are showing potential signals for a bullish crossover after a 16-month low, sparking debate about a possible trend reversal.
The community's efforts, such as token burning and development within the Shiba Inu ecosystem (e.g., Shibarium layer-2 solution), are key factors that could influence future price action. For those looking to track these developments in real-time, you can explore more market strategies.
Frequently Asked Questions
What is Shiba Inu (SHIB)?
Shiba Inu is an Ethereum-based cryptocurrency token that started as a meme-inspired digital asset. It has evolved into a vibrant ecosystem with its own decentralized exchange (ShibaSwap), NFT projects, and a dedicated community known as the "SHIB Army."
How can I buy Shiba Inu?
SHIB is listed on over 68 major cryptocurrency exchanges. You can typically purchase it with stablecoins, Bitcoin (BTC), or Ethereum (ETH). The process involves creating an account on a supported exchange, depositing funds, and executing a trade for SHIB.
Will Shiba Inu price reach $0.01?
Reaching a price of $0.01 would require a massive increase in market capitalization, trillions of dollars, given the current circulating supply. While not impossible, it is considered highly speculative and would require unprecedented adoption and token burning mechanisms.
What is the main risk of investing in SHIB?
As a meme coin, SHIB's price is heavily influenced by social media sentiment, hype, and broader cryptocurrency market trends rather than fundamental utility alone. This makes it highly volatile and susceptible to sharp price swings.
What does "burning" SHIB mean?
Token burning is the process of permanently removing coins from circulation by sending them to a verifiably unspendable wallet address. This reduces the total supply, which, based on principles of supply and demand, can potentially increase the value of the remaining tokens.
How does SHIB differ from Dogecoin?
While both are meme coins, they are built on different blockchains (SHIB on Ethereum, DOGE on its own blockchain). SHIB also has a larger maximum supply and a more defined ecosystem plan, including decentralized finance (DeFi) elements, whereas Dogecoin focuses more on being a medium of exchange.