SHIB News: Volatile Market Conditions Affect Shiba Inu’s Price

Shiba Inu (SHIB) Price Prediction for March 14

Since the first week of December 2024, the Shibarmy has experienced a choppy market for Shiba Inu (SHIB) akin to Ethereum (ETH). The mid-cap dog-themed memecoin, with a fully diluted valuation of about $7.2 billion and a 24-hour average trading volume of about $169 million, has dropped more than 22 percent in the past four weeks to trade about $0.00001239 on Friday, March 14, during the mid-London trading session. As the largest memecoin on the Ethereum network, Shiba Inu price has moved in tandem with Ethereum. Consequently, a potential V-shaped reversal for Ether in the near future could directly impact Shiba Inu price action and the wider altcoin market.

Shiba Inu (SHIB) Rallies, Approaches Key Resistance

After trading within a falling wedge pattern, Shiba Inu (SHIB) price rallied to $0.00008469, nearing a key resistance level at $0.00008517. Traders are watching for a bullish move after the coin tests and surpasses resistance in the $0.00001280 to $0.00001300 range. However, failure to hold support levels may lead to further declines. Analysts anticipate a breakout above this resistance zone could confirm an upward trend, with the 50-day moving average acting as strong resistance.

Shiba Inu Price Prediction: What Investors Need to Know Before Buying

Shiba Inu price prediction has become a hot topic in cryptocurrency circles. Investors are seeking reliable Shiba Inu coin price predictions for 2025 as its price movements fascinate both newcomers and veteran traders. Meanwhile, new projects like Dawgz AI are challenging established meme coins with AI-powered solutions. Understanding Shiba Inu’s market position and growth potential is essential before diving into investments.

3 Reasons Shiba Inu Price May Skyrocket Soon

Shiba Inu’s price has crashed into a bear market this year, wiping out $12 billion as its market cap dropped to $7.4 billion. The retreat happened amid concerns about a potential recession in the U.S. However, there are signs that the ongoing SHIB price crash may be nearing its end. First, the amount of SHIB coins being burned has surged in recent weeks, with a burn rate jumping by over 62,000% in the last 24 hours due to a single user sending almost 460 million SHIB coins to a dead wallet. Over 410 trillion SHIB coins have been incinerated since inception, leaving the circulating supply at about 584 trillion. Additionally, Shiba Inu’s price could benefit from macroeconomic factors.