• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: FTX Trust Sues Genesis To Recover $1 Billion Allegedly Misappropriated By SBF
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: FTX Trust Sues Genesis To Recover $1 Billion Allegedly Misappropriated By SBF
Shiba Inu

Shiba Inu Stagnates As Meme Coin’s Social Score And Market Cap Plunge

Christian Encila
by Christian Encila
2 years ago
·
Posted in Crypto News
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

As of writing, Shiba Inu has been up 41% in the monthly time frame. This rally is being boosted by the renewed investor sentiment in cryptocurrencies which led to major cryptocurrencies like Bitcoin and Ethereum regain ground lost when FTX collapsed. 

SHIB is one of those tokens that has climbed hard because of its high correlation with Bitcoin and Ethereum. Along with the news of the token’s network upgrade being hyped up, SHIB’s rise is a sure win for investors and traders. 

However, the token has recently entered a sideways market movement ahead of its Shibarium upgrade. Can Shiba Inu continue its rally or will it experience pain? 

SHIB Compared To Other Meme Coins

The token compared to other meme coins can be summarized into two words; second best. According to The Gem Hunters, a crypto research Twitter account, Shiba Inu is second in terms of social score, only behind DOGE by a few percentages. At its current market cap of $6.8 billion, it is behind DOGE by $5 billion. 

TOP 10 MEME TOKENS BY SOCIAL SCORE
26.01.2023

1️⃣ $DOGE
2️⃣ $SHIB
3️⃣ $QUACK
4️⃣ #BABYDOGE
5️⃣ $FLOKI
6️⃣ $CATE
7️⃣ $RABBIT
8️⃣ $TSUKA
9️⃣ $KIBA
🔟 #VOLT2 pic.twitter.com/2d8rQ1KNfq

— The Gem Hunters.™ 💎 (@TheGemHunters) January 26, 2023

This can be a sign that the supposedly DOGE-killer still has a long way to go in dethroning the king of meme coins. But 2023 might be the year SHIB dethrones DOGE in terms of social dominance. Recent news shows that Kusama recently confirmed a 3 trillion burn, marking the end of one of the ecosystem’s goals. 

Shiba InuImage: Cointribune

Shytoshi also recently teased the release of the network upgrade, calling Shibarium’s launch “soonauryish” which may indicate that the upgrade is going to happen before the start of February. However, SHIB’s sideways movement is a threat to its long-term prospects. 

Shiba Inu Might Face Pain On These Levels

The token’s stagnating market movement is the result of investors and traders exercising caution. This profit-taking opportunity has already passed and the SHIB bulls are fighting back. If the token can close today’s trading day in a green candle, SHIB might have a chance to retest $0.00001192 resistance. 

Related Reading: Bitcoin As Legal Tender: Arizona Senator Pushes Bill To Make Crypto Legal Form Of Currency

But with the token still experiencing volatility in the short to medium term, we might see bears retest $0.00001117 support. However, the Shiba Inu Shibarium upgrade might give the token some breathing room in these levels. 

SHIB total market cap at $994 billion on the daily chart | Chart: TradingView.com
Related Reading: FTX Attorneys To Drag SBF’s Parents And Brother In Questioning About Their Personal Wealth

If ever the token fails to move past $0.0000117, the bears will have a field-day to claw towards $0.00001038 support. Investors and traders should then watch the $0.00001117 support as this could lead to further pain in the market. 

Monitoring the major cryptocurrencies could also benefit Shiba Inu holders as the token has a high correlation with them. For now, investors and traders should defend the token’s support as this is crucial for SHIB. 

Featured image by Change.org

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Christian Encila

Christian Encila

Follow

Christian, a journalist and editor with leadership roles in Philippine and Canadian media, is fueled by his love for writing and cryptocurrency. Off-screen, he's a cook and cinephile who's constantly intrigued by the size of the universe.

Full Profile

Related Posts

Bitcoin could reach $200,000 following Powell’s replacement

Mike Novogratz Sees Bitcoin at $200,000 Following Powell’s Replacement, as Bitcoin Hyper Soars

20 minutes ago
Best Altcoins to Buy After Vanguard’s Big Crypto ETF Shift

Best Altcoins to Buy After Vanguard’s Big Crypto ETF Shift

1 hour ago
Kraken

Kraken Secures $500 Million In Latest Funding Round, Boosting Valuation To $15B

4 hours ago
Best Crypto Presales to Buy as SWIFT Tests Blockchain Payments with Ethereum Linea

Best Crypto Presales to Buy as SWIFT Tests Blockchain Payments with Ethereum Linea

4 hours ago
Vanguard

$10 Trillion Asset Manager Vanguard Prepares To Offer Access To Crypto ETFs For The First Time

5 hours ago
crypto

Celebrity Downfall: South Korean Actress Sentenced For $3-M Crypto Scam

7 hours ago

Premium Sponsors

Press Releases

  • 上線倒計時:僅剩25天可搶購 Snorter Bot 代幣

    1 day ago
  • 加密錢包掀起發幣熱潮 Best Wallet...

    3 days ago
  • Bitcoin Hyper

    ChatGPT предсказва следващата 1000x...

    4 days ago
  • Snorter надхвърли $4 милиона след...

    5 days ago
  • Experience the Next Chapter of Pickleball with the $PKL Token Presale.

    Experience the Next Chapter of Pickleball with the $PKL...

    1 week ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.