Is Shiba Inu (SHIB) About to Lose to dogwifhat (WIF)?

2024-4-3 07:00

Shiba Inu (SHIB) is the second biggest meme coin in the market, but despite its stature, it is facing significant competition in one aspect from dogwifhat (WIF).

Could this lead to SHIB declining further on the daily chart, or is a recovery likely?

Are Shiba Inu Investors Opting for WIF?

Shiba Inu price action has been a disappointing affair since the beginning of March. The altcoin has already been struggling, and dogwifhat is adding to the trouble. The meme coin, which became an overnight sensation, is currently the third biggest meme coin in the world.

Despite having a market cap of just $4 billion, WIF is giving considerable competition to SHIB, with a market capitalization nearly four times larger than that of WIF, which is $15.7 billion. The total volume traded in the last 24 hours of WIF is about $903 million, while SHIB has noted volumes of $972 million.

Shiba Inu and dogwifhat Trading Volume. Source: CoinMarketCap

This shows that the potential that SHIB had is waning, and the emergence of WIF is giving the former a run for its money.

Read More: 6 Best Platforms To Buy Shiba Inu (SHIB) in 2024

This sentiment will likely extend since a chunk of SHIB is about to become loss-bearing. More than 77.44 trillion SHIB worth over $2.52 billion is close to losing profitability. This supply was bought for between $0.00003100 and $0.00002500, and the altcoin is already close to falling through the lower range.

Shiba Inu GIOM. Source: IntoTheBlock

Consequently, the decline in price could extend.

SHIB Price Prediction: Monthly Lows Are Close

Shiba Inu price, after noting a more than 15% correction in two days, is nearing a fall below $0.00002584. This support line has been tested multiple times in the past, which makes it rather substantial to fall through.

SHIB will likely trickle down to test the $0.00002268 support level. Given the aforementioned conditions, this decline could extend beyond this crucial support level.

SHIB/USDT 12-hour chart. Source: TradingView

Read More: Dogecoin (DOGE) vs Shiba Inu (SHIB): What’s the Difference?

However, given the importance of the $0.00002584 support line, Shiba Inu price might be able to recover and reclaim $0.00002853. If this level is flipped into support, the bearish outlook would be invalidated, and SHIB could once again cross $0.00003000.

The post Is Shiba Inu (SHIB) About to Lose to dogwifhat (WIF)? appeared first on BeInCrypto.

origin »

SHIBA INU (SHIB) на Currencies.ru

$ 8.5E-6 (+0.42%)
Объем 24H $101.379m
Изменеия 24h: 1.94 %, 7d: 0.13 %
Cегодня L: $8.4E-6 - H: $8.5E-6
Капитализация $5.021b Rank 24
Доступно / Всего 589244.332b SHIB / 589552.695b SHIB

wif dogwifhat inu shiba shib lose correction

Источник: beincrypto.com

wif dogwifhat → Результатов: 117


WIF Price Prediction: Is Dogwifhat the Next 100x Meme Coin in 2025?

While most of the crypto market has been fighting for survival, one token has managed to stand out, Dogwifhat (WIF). At writing, WIF is the top gainer in the market and has managed to pump 17%. That decent spike has once again put WIF in the spotlight, and top analyst Crypto Aarav took a closer […] The post WIF Price Prediction: Is Dogwifhat the Next 100x Meme Coin in 2025? appeared first on CaptainAltcoin.

2025-6-3 14:45


Dogwifhat (WIF) Price Prediction: Can WIF Hit $10 by Q1 2025? Smart Investors Set Sights on Bigger Gains with This Competitor

The drama has always marked the sector of cryptocurrencies, particularly the sub-sector of meme coins, which has gained millions of admirers as well as their pockets. Dogwifhat (WIF) continues to draw attention in this volatile meme coin space as more positive and negative sentiments brew in the background while the coin tries to regain its […] The post Dogwifhat (WIF) Price Prediction: Can WIF Hit $10 by Q1 2025? Smart Investors Set Sights on Bigger Gains with This Competitor appeared first on CaptainAltcoin.

2024-10-17 09:46


MYRO price soars post Binance listing as Kangamoon (KANG) makes waves

MYRO price surges post Binance listing. Kangamoon (KANG) project gains traction. $KANG token presale offering investors early entry and growth potential. In a significant development in the cryptocurrency market, MYRO has experienced a significant price surge following in the footsteps of other meme coins like dogwifhat (WIF), PEPE, and Dogecoin (DOGE).

2024-3-14 20:47


Floki Burns More Tokens Than Shiba Inu (SHIB), PEPE, Dogwifhat (WIF), and Other Top Meme Coins Combined

Floki, a popular meme-inspired cryptocurrency, has recently made headlines by burning an impressive 212. 86 billion tokens in just two weeks. According to a post by BITCOINLFG, this massive token burn, worth over $60 million at current prices, has solidified Floki’s position as the most deflationary meme coin in the market.

2024-3-14 23:30


дальше еще 68 новостей →

Партнеры Currencies.ru



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Why Shiba Inu Could See a Bounce Despite Market Slump 

Despite the market slump, SHIB shows signs of resilience. On-chain metrics hint at reduced selling pressure and liquidity buildup that could fuel a near-term bounce. The post Why Shiba Inu Could See a Bounce Despite Market Slump  appeared first on BeInCrypto.

Shiba Inu’s Summer Surge Ends—Price Dips as Big Holders Exit

Shiba Inu's summer surge ends as whales offload their holdings, driving prices below key support levels. A dip in market sentiment signals a bearish trend. The post Shiba Inu’s Summer Surge Ends—Price Dips as Big Holders Exit appeared first on BeInCrypto.