SHIB Is Facing Threats That Could Lead to 20% Drop in Price By CoinQuora

SHIB Is Facing Threats That Could Lead to 20% Drop in Price

Cryptocurrency Jun 11, 2022 08:00AM ET

This article has already been saved in your Saved Items

SHIB Is Facing Threats That Could Lead to 20% Drop in Price

Shiba Inu (SHIB) is facing a variety of threats at the moment.
The SHIB burn rate has dropped by 75% overnight.
Another threat to SHIB is that its exchange reserves have plummeted.

Shiba Inu (SHIB) is facing a variety of threats at the moment. One of these threats is the fact that the SHIB burn rate has dropped by 75% overnight. This comes after the SHIB burn was doing pretty well at the beginning of the week.

About 34.72 SHIB tokens were burned over the last 24 hours. At the moment, around 41% of SHIB’s circulating supply has already been burned. The fact that SHIB’s burn rate is decreasing is a problem as many believe it is a key driver of bullish sentiment in the ShibArmy.

Another threat for SHIB is the fact that its exchange reserves have plummeted. Investors have amassed around 1.02 trillion SHIB, which is worth about $10.6 million. These tokens have all been pulled out of SHIB’s circulating supply.

If SHIB were to see a trend reversal, there is a possibility that over $1 trillion SHIB coins will hit exchanges. This will then increase the selling pressure which will then lead to a drop in price.

SHIB’s support at the $0.0000095 level could play a crucial role in the price trend. Unfortunately, many analysts believe that SHIB could break this support level and then decline by about 20%.

At the moment, SHIB is worth $0.00001014 after a 3.57% drop in price over the last 24 hours. SHIB also saw a 6.64% price decrease over the last seven days, according to CoinMarketCap.

SHIB’s market cap currently stands at $5,564,712,360. The CDoge-killer also saw a 24-trading volume of $232.21 million, which is a 19.12% increase over the last day.

Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CQ. No information in this article should be interpreted as investment advice. CQ encourages all users to do their own research before investing in cryptocurrencies.

Continue reading on CoinQuora

Coinsquare chief operating officer shares thoughts on being the first regulated crypto dealer exchange in Canada By Cointelegraph - Aug 10, 2022

It's a story that still haunts the early generation of Canadian crypto users to this day. Four years prior, Gerald Cotten, co-founder of Canada's then-largest cryptocurrency...

Wealth managers and VCs are helping drive institutional crypto adoption — Wave Financial execs By Cointelegraph - Aug 10, 2022

Two executives at Wave Financial, an asset management firm providing bespoke strategies to high-net-worth individuals and entities, have reported seeing increased institutional...

Anonymous user sends ETH from Tornado Cash to prominent figures following sanctions By Cointelegraph - Aug 10, 2022

On Tuesday, one day after the U.S. Treasury sanctioned cryptocurrency mixer Tornado Cash for its alleged role in cryptocurrency money laundering operations, intervals of 0.1 Ether...

Add a Comment

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:

Enrich the conversation, don’t trash it.
Stay focused and on track. Only post material that’s relevant to the topic being discussed.
Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.
Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

I have read Investing.com's comments guidelines and agree to the terms described.

I Agree

Write your thoughts here

Are you sure you want to delete this chart?

Delete Cancel

Post

Post also to:

Replace the attached chart with a new chart ?

Replace Cancel

1000

Comment Guidelines

Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.

Please wait a minute before you try to comment again.

Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.

Comments (2)

CTCS INSTITUTO Jun 11, 2022 6:55PM ET

Follow this post

Unfollow this post

Save

Saved. See Saved Items.

This comment has already been saved in your Saved Items

Block User

0.01

1 0

Report

JR Pierce Jun 11, 2022 12:17PM ET

Follow this post

Unfollow this post

Save

Saved. See Saved Items.

This comment has already been saved in your Saved Items

Block User

let me summarize Shib Scam is done.

1 4

Report

<div id="comment">
				<div class="comment js-comment" data-comment-id="{commentID}" id="comment-{commentID}" data-user-id="223217091">
    <div class="mainComment js-content">
       <div class="commentInnerWrapper">
        <a href="{userLink}" class="js-user-link"><img src="{userImage}" width="33" height="33" alt="{usernameAlt}" class="img" onerror="this.src='https://i-invdn-com.investing.com/defaultUserMaleTmp.png';"></a><div class="commentBody">
                					<span class="commentUsername">
                    	<a href="{userLink}" class="js-user-link js-user-name">{username}</a>
					</span>
                                <span class="js-date" comment-date="{dateFormat}" comment-date-formatted="{dateFormatted}" title="{dateTitle}">Just Now</span>
                <div class="commentDropDown js-commentDropDownWrapper " data-user-id="223217091" data-cid="{commentID}">
	<a href="javascript:void(0);" class="threeDotsIconSmall js-thinDropdownArrow"></a>
	<div class="tooltipPopup commentActionsPop noHeader js-commentDropDownOptions displayNone">
		<div class="addRow js-option share">
			<a href="javascript:void(0);" class="js-commentSharePopup" data-cid="{commentID}" data-curl="{commentLink}"><span class="smallShareIcon middle"></span>Share</a>
		</div>

<div class="js-option addRow follow">
            <div class="js-follow-post-button">
                <span class="alertfollowIcon middle"></span>Follow this post            </div>
            <div class="js-unfollow-post-button displayNoneImp">
                <span class="alertUnfollowIcon middle"></span>Unfollow this post            </div>
        </div>

<div class="addRow js-option save">
		<a href="javascript:void(0);" class="js-save-item-btn" data-item-type="comments" data-item-id="{commentID}">
			<i class="saveItemBigIcon middle"></i>
			Save		</a>
	</div>
	<div class="addRow saveItemsConfirmation noHover displayNone js-saveItemResult">
		
<div class="content js-saveItemSuccess displayNone">
	<span class="mediumGreenSuccessIcon"></span><span>Saved. See <a href="/members-admin/saved-items" target="_blank">Saved Items</a>.</span>
	<a href="javascript:void(0);" class="bugCloseIcon js-close"></a>
</div>
<div class="content js-saveItemAlreadySaved saveItemAlreadySaved displayNoneImp">
	<span>This comment has already been saved in your <a href="/members-admin/saved-items" target="_blank">Saved Items</a></span>
	<a href="javascript:void(0);" class="bugCloseIcon js-close"></a>
</div>
	</div>

<div class="addRow js-option blockUser js-block-option" data-comment-id="{commentID}"  data-user-id="223217091">
			<a href="javascript:void(0);">
				<span class="blockIcon middle"></span>Block User			</a>
		</div>
				<div class="addRow shareButtons js-sharePopup displayNone">
			<div class="js-shareComment"><span class="js-shareCommentSpan"></span></div>
		</div>
	</div>
</div>
                 <div class="commentAuthor js-comment-by-author"><span class="commentAuthorIcon"></span>Author's response</div>             </div>
		<div id="commentText-{commentID}" class="js-text-wrapper commentText withImage">
							<div id="commentBigChart{commentID}" class="commentBigChart js-comment-chart" onclick="openViewChartPopup('{commentID}')">
					<img src="https://d1-invdn-com.investing.com/comments_images/{commentImage}" alt="{commentAlt}">
					<i class="newMagnifyChartIcon"></i>
				</div>
						<span class="js-text">{commentContent}</span>
			<div class="clear"></div>
							<div class="commentButtons js-not-master-user">
					<a href="javascript:void(0)" class="reply js-reply-btn" data-real-parent-id="{commentID}" data-to-user-name="{username}" data-to-user-id="223217091">Reply</a>
					<div class="inlineblock likeDislikeBox js-like-dislike-box" data-item-id="{commentID}">
	<input class="js-like-checkbox" type="checkbox" name="option" value="Yes" id="like_{commentID}">
	<label for="like_{commentID}" class="like" title="I agree"></label>
	<span class="numOfLikes js-like-count lighterGrayFont">0</span>
	<input class="js-dislike-checkbox" type="checkbox" name="option" value="No" id="dislike_{commentID}">
	<label for="dislike_{commentID}" class="dislike" title="I disagree"></label>
	<span class="numOfDislikes js-dislike-count lighterGrayFont">0</span>
</div>

<div class="reportComment js-flag float_lang_base_2">
                            <a href="javascript:void(0);" id="commentFlag_{commentID}">
                                <span class="reportCommentIcon middle"></span><span class="inlineblock middle">Report</span>
                            </a>
                        </div>
                    				</div>
					</div>
	   </div>
	</div>
	</div>			</div>
			<div id="reply">
				
    <div class="commentReply js-comment js-comment-reply" data-comment-id="{commentID}" id="comment-{commentID}" data-user-id="">
		<div class="commentInnerWrapper"><a href="{userLink}" class="js-user-link"><img src="{userImage}" width="33" height="33" alt="{usernameAlt}" class="img" onerror="this.src='https://i-invdn-com.investing.com/defaultUserMaleTmp.png';"></a><div class="commentBody js-content">
            				<span class="commentUsername">
					<a href="{userLink}" class="commentUsername js-user-link js-user-name" onMouseOver="">{username}</a>
				</span>
                        <span class="js-date" comment-date="{dateFormat}" comment-date-formatted="{dateFormatted}" title="{dateTitle}">Just Now</span>
			 <div class="commentAuthor js-comment-by-author"><span class="commentAuthorIcon"></span>Author's response</div> 			<div class="commentDropDown js-commentDropDownWrapper " data-user-id="" data-cid="{commentID}">
	<a href="javascript:void(0);" class="threeDotsIconSmall js-thinDropdownArrow"></a>
	<div class="tooltipPopup commentActionsPop noHeader js-commentDropDownOptions displayNone">
		<div class="addRow js-option share">
			<a href="javascript:void(0);" class="js-commentSharePopup" data-cid="{commentID}" data-curl="{commentLink}"><span class="smallShareIcon middle"></span>Share</a>
		</div>

</div>
		<div id="commentText-{commentID}" class="js-text-wrapper commentText withImage">
							<div id="commentBigChart{commentID}" class="replyBigChart displayNone js-comment-chart">
					<img src="https://d1-invdn-com.investing.com/comments_images/{commentImage}" alt="{commentAlt}">
					<i class="newMagnifyChartIcon"></i>
				</div>
				<span id="commentSmallChart{commentID}" class="commentSmallChart pointer js-comment-chart" onclick="openViewChartPopup('{commentID}')">
                    <img src="https://d1-invdn-com.investing.com/comments_images/{commentImageSmall}" width="116" height="52" alt="{commentAlt}">
                    <span class="chartMagnifyOverlay displayNone"></span>
                    <span class="searchGlassIcon chartMagnify displayNone"></span>
                </span>
						<span class="js-text">{commentContent}</span>
			<div class="clear"></div>
							<div class="commentButtons js-not-master-user">
					<a href="javascript:void(0)" class="reply js-reply-btn" data-real-parent-id="{commentID}" data-to-user-name="{username}" data-to-user-id="">Reply</a>
					<div class="inlineblock likeDislikeBox js-like-dislike-box" data-item-id="{commentID}">
	<input class="js-like-checkbox" type="checkbox" name="option" value="Yes" id="like_{commentID}">
	<label for="like_{commentID}" class="like" title="I agree"></label>
	<span class="numOfLikes js-like-count lighterGrayFont">0</span>
	<input class="js-dislike-checkbox" type="checkbox" name="option" value="No" id="dislike_{commentID}">
	<label for="dislike_{commentID}" class="dislike" title="I disagree"></label>
	<span class="numOfDislikes js-dislike-count lighterGrayFont">0</span>
</div>

Are you sure you want to delete this chart?

Delete Cancel

Post

Replace the attached chart with a new chart ?

Replace Cancel

1000

Comment Guidelines

Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.

US 30	33,305.5	-4.0	-0.01%
US 500	4,207.5	-2.7	-0.07%
Dow Jones	33,309.51	+535.10	+1.63%
S&P 500	4,210.24	+87.77	+2.13%
Nasdaq	12,854.80	+360.88	+2.89%
S&P 500 VIX	19.74	-2.03	-9.32%
Dollar Index	105.102	-1.150	-1.08%

Crude Oil WTI	91.56	-0.37	-0.40%
Brent Oil	97.05	+0.01	+0.01%
Natural Gas	8.198	-0.029	-0.35%
Gold	1,807.05	-6.65	-0.37%
Silver	20.552	-0.190	-0.92%
Copper	3.6418	+0.0056	+0.15%
US Soybeans	1,426.25	-2.50	-0.17%

SPDR S&P 500	419.99	+8.64	+2.10%
iShares Russell 2000	195.62	+5.43	+2.85%
Invesco QQQ Trust	325.93	+8.85	+2.79%
Direxion Daily Junior Gold Miners Bull 2X Shares	37.79	+0.15	+0.40%
iShares Silver	18.95	+0.02	+0.11%
ProShares Ultra VIX Short-Term Futures	9.17	-0.86	-8.57%
ProShares UltraPro QQQ	36.50	+2.77	+8.21%

Apple	169.24	+4.32	+2.62%
Alphabet A	119.70	+3.07	+2.63%
Tesla	883.07	+33.07	+3.89%
Amazon.com	142.69	+4.86	+3.53%
Netflix	244.11	+14.17	+6.16%
Meta Platforms	178.34	+9.81	+5.82%
Bank of America	35.07	+1.15	+3.39%

SHIB Is Facing Threats That Could Lead to 20% Drop in Price

Related Articles