SHIB News: Bulls Anxiously Await White House Crypto Summit Amid Speculation of US Bitcoin Reserve

Shiba Inu Stuck In a Downtrend – SHIB Price Collapse Coming?

Shiba Inu (SHIB) bulls are nervously prodding the price higher as traders await Friday’s highly anticipated White House crypto summit that could reveal the launch of a US strategic Bitcoin reserve. There is currently a 67% chance that Trump creates a National Bitcoin Reserve this year. The SHIB price was last around $0.0000135, modestly higher on the session and up over 10% from Tuesday’s lows. The meme coin continues to trade around 60% down from its December 2024 highs. As Bitcoin gears up for a potential rush back to record highs, the meme coin market’s future remains uncertain.

Shiba Inu Large Transaction Volumes Spike Over 150% In 4 Days

IntoTheBlock data reveals that Shiba Inu’s large transaction volumes have surged over 150% between March 2nd and 5th. On March 2nd, SHIB whales traded $17.28 million worth of Shiba Inu, which skyrocketed to $39.84 million on March 5th, marking a 7-day high. This indicates that SHIB whales are back, providing a bullish outlook for the second-largest meme coin by market cap.

Will Meme Coin Hype Ignite A SHIB Rally?

The crypto market stands at a critical point facing opposing market forces. Analysts predict Shiba Inu (SHIB) will increase 500% due to technical indicators and rising enthusiasm for meme-based cryptocurrencies. Meanwhile, the second stage of Mutuum Finance (MUTM) presale launches with a price of $0.015, having accumulated $2.2 million from 4,200 investors. Planners expect MUTM to reach $3.50 per unit after its exchange listing at $0.06, while investors anticipate 300% profits. The structured lending model of MUTM establishes it as a potential market disrupter while SHIB encounters challenges.

Shiba Inu (SHIB) Price Prediction for March 6

In the last 24 hours, Shiba Inu (SHIB) has rebounded by 2.09% to $0.00001344. This suggests short-term buying interest, likely due to temporary bullish sentiment. However, SHIB’s price has dropped by 14.42% in the past 30 days, indicating long-term bearish pressure. While the 24-hour trading volume supports the current rally, the longer-term trend shows sellers dominating the market.