Meme coins continue to gain global acceptance, led by Dogecoin and Shiba Inu (SHIB). In particular, Shiba entered the list of thousands of companies from the beaches of Brazil to restaurants in the USA. In this article, let’s take a look at the latest news and developments from the Shiba Inu ecosystem. There are 3 hot news from Shiba Inu…
Shiba Inu (SHIB) team announce BONE token discounts for ShibaSwap rewards program
The team behind Shiba has announced that it will adjust the mint rate of the bounty token BONE. In a blog post today, the team shared that they set the BONE mint rate to 1 BONE (1 BPB) per block.
According to the announcement, they made such a decision to avoid overprinting the BONE rewards, following the community’s decision to stop printing the $230 million BONE rewards.
This company started accepting payments with SHIB
In other news, luxury yacht charter company Yachtzoo has announced that it will now accept payments in SHIB and Dogecoin. This move by the company is especially evident as the use of cryptocurrencies in the yachting industry increases. A few top brokerages now accept cryptos for buying and chartering yachts.
Cryptocurrencies that Monaco-based Yachtzoo will accept payments with BitPay:
- Bitcoin, Ethereum, Bitcoin Cash, Litecoin, XRP, Dai and Wrapped Bitcoin (WBTC)
Shiba Inu becomes largest hodl among Ethereum whales
According to a recent tweet from WhaleStats, the largest Ethereum whale is again accumulating massive amounts of SHIB. SHIB is also the largest dollar-based cryptocurrency held by these whales.
22.35% of whales’ portfolios include Shiba Inu. This means that the whales allocate $559,974,432 to SHIB.
What technical analysis says for SHIB price
SHIB once again proved that it can still manage strong demand after briefly falling below the $0.00001 level. Meanwhile, price action has been forming around its 50-day moving average for the past few days. The recent bullish resulted in a move above the same MA. On the other hand, SHIB’s RSI index is hovering on the neutral line, trading at $0.00001108 at the time of writing.
The price action of the Shiba Inu sets higher price floors. According to analysts, this is a sign of healthy demand. This observation is supported by the strong accumulation recorded by the Money Flow Index (MFI).
Do these indicators herald higher levels?
The rise and accumulation of the Shiba Inu reflects the high resistance observed at the largest addresses. Their balances increased by 0.32% between June 6 and June 9. While the percentage figure may seem small in the grand scheme, it represents a large increase in the number of SHIBs accumulated.
On the other hand, the number of whales actively accumulating SHIB is increasing. Thus, it reinforces the feeling that the overall mood is improving on the upside. This observation resonates with higher currency outflows, especially compared to the inflows in the last three days. Foreign currency outflows peaked at SHIB 194 billion on July 13 against a maximum inflow of 64.17 SHIB. A similar observation was seen on July 14, with outflows peaking at 159.39 billion, while inflows peaked at 101.5 billion SHIB.
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