Bitcoin

Shiba Inu

According to IntoTheBlock, there are currently 5.9 trillion Shiba Inu (SHIB) tokens available for sale at an average price of $0.000017 each. This sale could total about $100 million in SHIB tokens.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/389668185175480e8352c9c0f8ecd65e.png" />The data also shows that buy orders have been placed for 3.4 trillion SHIB tokens, leaving 2.5 trillion tokens still on the market.<h3 id="strong-shib-faces-potential-price-drop-amid-increased-supply-strong">SHIB Faces Potential Price Drop Amid Increased Supply</h3>The <a href="https://cryptosheadlines.com/shiba-inu-rises-as-whales-accumulate-6t-shib/" rel="noopener noreferrer nofollow">rising supply of Shiba Inu</a> (SHIB) tokens could lead to a potential price drop for the popular meme coin. Currently, SHIB is down by 3.6% in the daily charts, 2.4% in the weekly charts, 15.3% over the past 14 days, and 7.5% over the previous month. The token has struggled to gain traction since March, when it reached a two-year peak of $0.000036.The current market downturn may be linked to Bitcoin (BTC) falling below $65,000. This <a href="https://cryptosheadlines.com/bitcoin-price-prediction-possible-drop-to-60k-amid-death-cross-concerns/" rel="noopener noreferrer nofollow">drop in Bitcoin’s price could be driven by concerns</a> over the Mt. Gox reimbursement plan and the US government’s recent movement of over $2 billion worth of BTC.Price Predictions for Shiba Inu (SHIB)According to CoinCodex, Shiba Inu (SHIB) could potentially rise to $0.00003465 by August 6, 2024. This would represent a significant rally of over 119% from its current price. However, CoinCodex researchers believe that SHIB’s price will likely correct back to current levels shortly after reaching this peak.Similarly, Changelly predicts that SHIB will reach $0.00003579 by August 5, 2024. Like CoinCodex, Changelly also foresees a correction after this peak, with the price expected to fall back to $0.000015 by the end of August.<a href="https://cryptosheadlines.com/exploring-the-best-crypto-presale-projects-2024-high-returns-and-zero-tax/" rel="noopener noreferrer nofollow">Also Read: Exploring the Best Crypto Presale Projects 2024: High Returns and Zero Tax</a><h3 id="strong-shiba-inu-s-recent-struggles-compared-to-other-meme-coins-strong">Shiba Inu’s Recent Struggles Compared to Other Meme Coins</h3>Shiba Inu (SHIB) remains one of the most popular cryptocurrencies, but it has faced challenges in achieving positive price movements recently. Over the past few months, <a href="https://cryptosheadlines.com/shib-and-arkm-show-patterns-indicating-huge-gains-shib-may-rally-60/" rel="noopener noreferrer nofollow">SHIB has struggled to gain</a> traction and show significant gains.In contrast, other meme coins such as Pepe (PEPE), Bonk (BONK), Dogfight (WIF), and Popcat (POPCAT) have outperformed SHIB over the last year. These alternative <a href="https://cryptosheadlines.com/terra-luna-classic-holders-uncover-25x-growth-meme-coin/" rel="noopener noreferrer nofollow">meme coins have demonstrated stronger performance and growth</a> compared to Shiba Inu.Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.Join Cryptos Headlines <a href="https://linktr.ee/cryptosheadlines.com" rel="noopener noreferrer nofollow">Community</a>Follow Cryptos Headlines on <a href="https://news.google.com/publications/CAAqBwgKMLz3-wowvuzoAg" rel="noopener noreferrer nofollow">Google News</a>

5.9 Trillion SHIB for Sale: Could Another Price Drop Be Ahead?

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