Shiba Ina price targets $0.000069 as weakness increase, why price can reject lower

Bitcoin has seen a significant drop, falling over 5% to around $105,105 as investors shift their focus from cryptocurrencies to gold amid market instability. This decline marks a 13% decrease from its recent peak of nearly $126,000 on October 6. The heavy liquidations in the crypto market have intensified selling pressure, prompting many to seek safer investments like gold. This trend highlights the growing caution among investors as they navigate the volatile landscape of digital currencies.

In a significant move for the Shiba Inu community, a Coinbase-linked wallet recently burned over 140 million SHIB tokens, effectively removing them from circulation. This event, which took place on October 15, is the largest burn in months and highlights the ongoing efforts to manage the token's supply. The transaction was executed by a newly created wallet, emphasizing the growing interest in Shiba Inu as a cryptocurrency. Such burns are crucial as they can potentially increase the value of remaining tokens, making this news particularly exciting for investors and enthusiasts alike.

The memecoin market has taken a significant hit, dropping nearly 40% in just one day, with popular tokens like DOGE and SHIB struggling to recover. This downturn is concerning for investors and enthusiasts alike, as it reflects broader market instability and raises questions about the future of these once-popular cryptocurrencies.

Shiba Inu has successfully reopened its Shibarium Plasma bridge after a month-long freeze due to a security incident. This restoration allows users to transfer BONE between Ethereum and the layer-2 network, enhancing the overall functionality and user experience. The core contributor, Kaal Dhairya, confirmed the bridge's return in a recent post, emphasizing the thorough review process that ensured its security. This development is significant as it not only reinstates a vital service for users but also reflects the team's commitment to maintaining a secure and efficient platform.

Shiba Inu's price is facing significant challenges as it continues its downward trend, currently trading at $0.00001052. A rare chart pattern suggests that further declines may be on the horizon, especially as large investors, known as whales, are selling off their holdings. This situation is concerning for investors, as rising exchange balances indicate that more coins are being moved to exchanges, potentially leading to increased selling pressure. Understanding these dynamics is crucial for anyone involved in the cryptocurrency market.

PEPE is currently trading at approximately $0.0000075, experiencing a 19% decline this week as it consolidates after an early bounce. The trading range has narrowed between $0.0000095 and $0.0000115, indicating a cooling-off phase among traders. This situation raises questions about whether PEPE can gain traction and potentially overshadow Shiba Inu in the competitive cryptocurrency market.

Bitcoin's recent crash to $105,000 has sent shockwaves through the cryptocurrency market, pushing the Fear & Greed Index into extreme fear territory. This index, created by Alternative, gauges trader sentiment based on various factors like volatility and trading volume. The current sentiment reflects widespread anxiety among traders, which could impact future market movements. Understanding these shifts is crucial for investors as they navigate the volatile landscape of cryptocurrencies.

The UK's tax authority, HMRC, has significantly increased its efforts to ensure crypto investors are reporting their gains, sending out nearly 65,000 warning letters last year—more than double the amount from the previous year. This crackdown is crucial as it highlights the government's commitment to tackling tax evasion in the rapidly growing cryptocurrency market, ensuring that investors comply with tax regulations and contribute their fair share to the economy.

Dubai has successfully completed a pilot program for cryptocurrency payments in government services, marking a significant step towards integrating digital currencies into everyday transactions. This initiative not only showcases Dubai's commitment to innovation but also positions the city as a leader in the global shift towards blockchain technology. By embracing crypto payments, Dubai aims to enhance efficiency and transparency in its services, making it easier for residents and businesses to engage with the government.

Bitcoin is facing significant challenges as it struggles to maintain its value after a sharp market drop last Friday. Traders are feeling the impact of one of the most volatile weeks in recent months, with Bitcoin currently hovering around the $105K–$106K range. Meanwhile, gold has reached new all-time highs, highlighting a growing uncertainty in global markets. This situation is crucial as it reflects the shifting dynamics between cryptocurrencies and traditional safe havens, which could influence investor behavior moving forward.

XRP is currently facing challenges in breaking through key resistance levels after a notable rebound. This price action aligns with an Elliott Wave pattern, indicating that the market might be in its final consolidation phase before a significant movement occurs. Following a sharp decline last Friday, prices have shown impressive recovery, but the momentum seems to be waning, leaving traders cautious about the next steps.

Bitcoin has seen a significant drop, falling over 5% to around $105,105 as investors shift their focus from cryptocurrencies to gold amid market instability. This decline marks a 13% decrease from its recent peak of nearly $126,000 on October 6. The heavy liquidations in the crypto market have intensified selling pressure, prompting many to seek safer investments like gold. This trend highlights the growing caution among investors as they navigate the volatile landscape of digital currencies.