Days
Hours
Minutes
Seconds

What Factors Could Influence The Shiba Inu Coin to Break Through $0.00003?

Avatar

Published

on

The price of the Shiba Inu coin has seen fluctuations in recent weeks, rising as high as $0.00002927 on March 28 and falling as low as $0.00002481 on April 1. However, the price has always struggled to break $0.00003, even though it was very close.

At the time of writing, the price of the Shiba Inu coin was $0.00002669, down 0.36% in the last 7 days, but up 1.29% in the last 24 hours. The current market cap is $14.65billion and the 24-hour volume is $936.49. (Source: Gate.io) So what is causing such a drastic change in the price of the Shiba Inu coin? Let's find out.

Shiba Inu Coin's Meta-Universe Launched

The Shiba Inu Coin team announced the launch of the metaverse in the last week of March. The project is named: [SHIB: The Metaverse]. There will be over 1 million lands unlocked and opened depending on the time of year. Each phase of the land will be subdivided, and the price of each piece of land will be different. The cryptocurrency for purchase and trading will be Ether.

The Shiba Inu Coin Meta Universe will be available to all members of the Shiba Inu Coin community, and everyone can make purchases and investments. Landholders can enjoy the passive income generated by the meta-universe and the rewards generated by the related NFT game. The launch of this project is continuously attracting investors to buy Shiba Inu Coin.

The Third-Ranked Whale Bought 86 Billion Shiba Inu Coins

According to recent news, the third-ranked whale in the Ether blockchain nicknamed "Tsunade" spent $23,000 to buy 86billion Shiba Inu coins. This is one of the largest Shiba Inu coin purchases in recent memory.

According to the data from the WhatStats website, the Shiba Inu coin has been in the top three in terms of 24-hour purchase volume ranking. Previously many whales were hoarding Shiba Inu coins in large quantities. The current number one whale has 34,468,281,443,997 Shiba Inu coins worth $922,371,211, or 3.45% of the total Shiba Inu supply, which is a staggering amount.

95 Million Shiba Inu Coins Have Been Burned

The Shiba Inu Coin Burning Team has been burning Shiba Inu tokens, even in April. On April 1st the Shiba Inu Coin team burned 95million Shiba Inu coins. The total number of Shiba Inu coins in circulation is currently 549.06 trillion.

Bigger Entertainment chief executive Steven Cooper announced on Twitter on April 1 that he would shut down the Shiba Inu Coin Burning campaign and launch it permanently. However, many fans thought it was an April Fool's joke, as not all content related to the Shiba Inu coin burn was removed from Bigger Entertainment's website. Perhaps the token burning will still go on.

The fluctuation of the Shiba Inu coin price is influenced by many factors, not only the unilateral market movement of the Shiba Inu coin but also the market direction of the whole cryptocurrency. How long will it take for the Shiba Inu coin to break $0.00003 this time? Will the resistance level of $0.000028 in Shiba Inu Coin turn into a thrust level? Time will tell.
 

Crypto Prices Today:

Trending