Shib Inu (SHIB) News Today

Shiba Inu's price remains under pressure, trading within a bearish structure with a key resistance at $0.0000065. Analysts warn of potential declines to $0.0000055 unless a breakout occurs. The token has lost 30.24% in the last month.

Jeff Park attributes the recent cryptocurrency decline to institutional risk management, particularly from hedge funds, leading to aggressive selling amid rising volatility. He suggests this forced capitulation is crucial for Bitcoin's longer-term recovery and predicts a rapid rebound after clearing out excess leverage.

Ripple CEO Brad Garlinghouse advises XRP investors to remain calm amidst a significant market crash, referencing Warren Buffett's advice to be opportunistic during fear. Despite XRP's historic decline, which has seen it drop 70% from its peak, Garlinghouse views the situation as a potential buying opportunity.

SHIB is trading within a narrow ascending channel, indicating controlled volatility around a support level of $0.056735. Despite reduced trading volume, price stability persists. Short-term scenarios predict potential movement between resistance at $0.056997 and support, maintaining the current range.

XRP has struggled with price declines amid market volatility, but signs of investor confidence are emerging as its derivatives market shows increased open interest. Despite a recent drop, the asset could be poised for recovery, supported by steady institutional ETF inflows.

Playnance has launched as a Web3 platform bridging traditional gaming with blockchain, facilitating 1.5 million daily on-chain transactions. With a focus on user-friendly onboarding, it attracts non-crypto users and emphasizes practical consumer applications over speculative growth.

Shiba Inu's price struggles persist, with an ongoing downturn reflected in low demand and rising selling pressure. Traders return more tokens than they buy, and the asset nears 2023 lows, raising concerns over potential further declines.

Peter Brandt warns that Bitcoin's recent downtrend is a methodical sell-off, not random liquidations. With key levels at $70,000 and $63,800, he suggests a larger market plunge may occur, impacting retail holders amid broader market declines.

Tim Draper and Samson Mow offer bullish insights on Bitcoin amid market downturns. Draper highlights Bitcoin’s long-term investment potential, while Mow argues it should currently be valued at $0.11 million, signaling a shift from bear market conditions.

Kyle Samani, co-founder of Multicoin Capital, is leaving the firm during a market downturn, emphasizing he's not giving up on Solana and remains long on crypto. He plans to explore new tech areas while expressing confidence in his team.

Mark Dow, a hedge fund manager and economist, has expressed a desire for Bitcoin to become worthless to punish what he calls "grifters" in the cryptocurrency industry. Known for his 2017 short prediction, Dow has criticized the market as disconnected from reality.

SHIB trades around the price ranges of mid-2023, after a larger drop that went up to about 13 percent in trackers. The short-term consolidation has price action that is between support and resistance of $0.056481 and $0.056831 respectively. SHIB is weak, but it is relatively strong