SHIB

SHIB Price Live Data
The live Shiba Inu price today is €0.000011 EUR with a 24-hour trading volume of €164,845,039 EUR. We update our SHIB to EUR price in real-time. Shiba Inu is down 3.42% in the last 24 hours. The current CoinMarketCap ranking is #14, with a live market cap of €6,187,322,464 EUR. It has a circulating supply of 549,063,278,876,302 SHIB coins and the max. supply is not available.

If you would like to know where to buy Shiba Inu at the current rate, the top cryptocurrency exchanges for trading in Shiba Inu stock are currently Binance, BingX, OKX, Deepcoin, and BTCEX. You can find others listed on our crypto exchanges page.
About SHIBA INU (SHIB)
Shiba Inu (SHIB) is a decentralized cryptocurrency created in 2020 by an anonymous person under the pseudonym Ryoshi.

The SHIB token is an Ethereum-based ERC-20 token that was created as a direct competitor to Dogecoin. The token does not support smart contracts and is not backed by any asset. However, it can be transferred from one user to another.

SHIB is one of many dog-themed cryptocurrencies. However, unlike dogecoin, SHIB is building an entire ecosystem around itself named ShibSwap. As of now, ShibaSwap consists of two tokens: LEASH and BONE.

LEASH was originally a rebase token but the developers recently removed the rebase to increase the potential. It has a total supply of 107,646 tokens, offering different incentives and rewards on ShibaSwap.

BONE is a governance token that allows the #ShibArmy to vote on upcoming proposals for the latest project, Doggy DAO. BONE has a total supply of 250,000

SHIB token was born from the idea of being just another "meme" token, but over time has become its own ecosystem backed by a growing community. Read more on the coin at Binance Academy here.

The #ShibArmy consists of talented individuals, which Shiba Inu supports by cultivating an environment that incentivizes activity and growth. The Shiba Inu Incubator was created to help holders find the tools to bring their artwork to life.

Shiba Inu (SHIB) price has declined today.
The price of Shiba Inu (SHIB) is $0.000011965916 today with a 24-hour trading volume of $192,384,851. This represents a -3.40% price decline in the last 24 hours and a -8.70% price decline in the past 7 days. With a circulating supply of 590 Trillion SHIB, Shiba Inu is valued at a market cap of $7,053,300,629.

What is Shiba Inu (SHIB)?
Shiba Inu (SHIB) is a meme token which began as a fun currency and has now transformed into a decentralized ecosystem. During the initial launch, 50% of the supply was allocated into Vitalik Buterin's ethereum wallet. The price of SHIB has soared from as low as $0.000000000056 to an all time high of $0.000084, that is a 150,000 times increase within 8 months.

As a result of that, Vitalik proceeded to donate 10% of his SHIB holdings to a COVID-19 relief effort in India and the remaining 40% is burnt forever. That donation was worth about $1 billion at that time, which makes it one of the largest donation ever in the world.

What has the Shiba Inu community worked on?
The Shiba Inu team launched a decentralized exchange called Shibaswap with 2 new tokens, LEASH and BONE. LEASH is a scarce supply token that is used to offer incentives on Shibaswap. BONE is the governance token for holders to vote on proposals on Doggy DAO.

Shiba Inu coin in 2022
Right now in 2022, Shiba Inu coin has captured mainstream attention as a meme coin. On Oct 28th, 2021, the cryptocurrency reached an all-time-high price of $0.000084. That was a +150,000,000% increase from when it was launched in August 2020.

Looking at the overall chart, Shiba Inu grew at a faster rate and have overtaken Dogecoin in terms of market cap. Both are running the narrative as the dominant global meme coin and a very volatile as there are no utility other than speculation and for transaction purposes.

The rapid rise of Shiba Inu coin price have gotten a lot of crypto analysts and experts concern about an incoming massive correction.

Where can you buy Shiba Inu?
SHIB tokens can be traded on centralized crypto exchanges. The most popular exchange to buy and trade Shiba Inu is BingX, where the most active trading pair SHIB/USDT has a trading volume of $1,787,058 in the last 24 hours. Other popular options include Gate.io and Coinbase Exchange.

What is the daily trading volume of Shiba Inu (SHIB)?
The trading volume of Shiba Inu (SHIB) is $192,396,171 in the last 24 hours, representing a -1.30% decrease from one day ago and signalling a recent fall in market activity.

What is the all-time high for Shiba Inu (SHIB)?
The highest price paid for Shiba Inu (SHIB) is $0.00008616, which was recorded on Oct 28, 2021 (over 1 year). Comparatively, the current price is -86.09% lower than the all-time high price.

What is the all-time low for Shiba Inu (SHIB)?
The lowest price paid for Shiba Inu (SHIB) is $0.000000000056366, which was recorded on Nov 28, 2020 (over 2 years). Comparatively, the current price is 21,263,316.79% higher than the all-time low price.

What is the market cap of Shiba Inu (SHIB)?
Market capitalization of Shiba Inu (SHIB) is $7,053,480,544 and is ranked #15 on CoinGecko today. Market cap is measured by multiplying token price with the circulating supply of SHIB tokens (590 Trillion tokens are tradable on the market today).

How does the price performance of Shiba Inu compare against its peers?
With a price decline of -8.70% in the last 7 days, Shiba Inu (SHIB) is underperforming the global cryptocurrency market which is down -2.30%, while underperforming when compared to similar Ethereum Ecosystem cryptocurrencies which are down -1.80%.

What is the market sentiment of Shiba Inu today?
The community is bullish as more than 71% of users are feeling good about Shiba Inu (SHIB) today.

How to add Shiba Inu (SHIB) to MetaMask?
Adding Shiba Inu (SHIB) to MetaMask allows you to view your token holdings, trade on decentralized exchanges, and more. To add them, you’ll need to import SHIB as a token. You can copy SHIB’s contract address (0x95ad61b0a150d79219dcf64e1e6cc01f0b64c4ce) and import it manually, or if you've installed MetaMask's chrome extension, add SHIB to MetaMask with one click on CoinGecko.

Add SHIB to MetaMask.

What Is SHIBA INU (SHIB)?
Once upon a time, there was a very special dog. That dog was a Shiba Inu, and this dog inspired millions of people around the world to invest money into tokens with the dog's image on it.

According to the SHIBA INU website, SHIB is the "DOGECOIN KILLER" and is listed on their own ShibaSwap, a DEX. Shiba Inu coin was created anonymously in August 2020 under the pseudonym "Ryoshi." Ryoshi says about himself that he is a nobody and not important and that the efforts to unmask his identity, even if successful, would be underwhelming.

This meme coin quickly gained speed and value as a community of investors was drawn in by the cute charm of the coin paired with headlines and tweets from personalities like Elon Musk and Vitalik Buterin. Vitalik Buterin was long believed to be the originator of Shiba Inu, but denied such rumors on the Lex Fridman podcast on June 5, 2021.

Shiba Inu aims to be the Ethereum-based counterpart to Dogecoin's Srypt-based mining algorithm. Shiba Inu and the SHIB token are part of a swarm of dog-themed cryptocurrencies, including Baby Dogecoin (BabyDoge), Dogecoin (DOGE), JINDO INU (JIND), Alaska Inu (LAS) and Alaskan Malamute Token (LASM). These lesser-valued tokens have attracted investors who missed the Dogecoin pump from 0.0002 to nearly 0.75 USD.

Shiba's success sparked an avalanche of copycats, such as BitShiba, Shiba Fantom, Shibalana, King Shiba, SHIBAVAX, Captain Shibarrow, SHIBA2K22, SpookyShiba and countless others. In total, there may be well over 100 Shiba Inu copies, and the number keeps rising constantly.

On Sept. 17, 2021, Coinbase, the largest U.S.-based crypto exchange, listed Shiba Inu on their platform. This news caused Shiba Inu price to rise by over 40% in the following two days, bringing the meme dog token into the spotlight again.

Shiba Inu has since attracted more interest from other exchanges as well. Bitso, Mexico's biggest cryptocurrency exchange, announced in September that SHIB would start trading on its exchange. Giottus, an Indian crypto exchange, announced the same. Bitstamp, the biggest crypto exchange in Europe, said that it would list Shiba Inu for trading at the beginning of 2022. Korbit, a South Korean exchange, became the country's first exchange to list the SHIB token in 2021.

Who Are the Founders of SHIBA INU?
The SHIBA INU WoofPaper has three reasons why their team created SHIB:

"We started from zero, with zero."
"The brilliant minds behind Shib had never collaborated before."
"We love Shiba Inu Dogs."
The anonymous creator of the Shiba Inu coin is known as "Ryoshi." However, very little is known of the mystery founder of the dog-themed cryptocurrency, much like the founder of Bitcoin, Satoshi Nakamoto.

In his blog RYOSHI RESEARCH, he characterizes himself as "just some guy of no consequence tapping at a keyboard." Ryoshi said that usually in projects there are different roles like a CEO, a "tech guy," and a roadmap, resulting in "someone plebs can bitch at." He stresses that with Shiba, no one person is accountable or responsible and underlines that he owns 0 SHIB to this day. For this reason, Ryoshi can be "pure and unbiased," getting satisfaction from Shiba "in other ways."

It has been speculated that Vitalik Buterin was behind the initial liquidity that helped set up Shiba Inu's liquidity on Uniswap. According to Ryoshi, he had "a fren" he met at Devcon in Osaka that sent him 10 ETH to set up the liquidity pair on Uniswap. Ryoshi also stated that Shiba Inu was an experiment in decentralized community building, and he thus declined all the influencer requests and pitches from different exchanges he received. His "job" is to defend the brand and give suggestions, although he does so very sparingly, as his last blog entry dates back to May 2021.

What Makes SHIBA INU Unique?
The SHIBA INU website invites dog-inspired artists from all over the world to foster the "artistic Shiba movement" as they bring their SHIBA INU community into the NFT market. SHIBA INU has also created a campaign using Amazon Smile in order to collect donations to escue real, live Shiba Inu dogs with the Shiba Inu Rescue Association.

After initially being only one meme coin of many, Shiba Inu skyrocketed to popularity after Vitalik Buterin famously burned his share of the SHIB supply. Ryoshi had given Buterin 50% of the SHIB supply, announcing that "as long as Vitalik doesn't rug us," Shiba Inu would be fine.

However, Buterin decided to burn 90% of his share, which later would have been worth billions thanks to the soaring value of SHIB. The remaining 10% were sent to a charity, as were about 50 trillion SHIB more that Vitalik had donated to a COVID-19 relief fund. He stated that he did not want "to be a locus of power" and thus gave the tokens away. This resulted in a temporary loss of value for SHIB, which the token later recovered from after the community agreed on an arrangement with the charity in question.

Ryoshi's goal for Shiba Inu has been to see if a perpetual decentralized organization could work with no central leadership. In a blog post, Royshi noted that the rift caused by Buterin's token donation made the community stronger and would enable it to distribute further and decentralize the movement. His vision for the core ecosystem is to perform its utility while the Shiba Inu-own stablecoin becomes the globalized exchange of value.

In October 2021, SHIB surged on the news of a possible Robinhood listing and briefly flipped Dogecoin to become the most-valued meme coin by market capitalization. Thus far, Robinhood has not listed SHIB, despite a petition with over 500,000 signatures calling for it. Robinhood executive Christine Brown has lauded the efforts of the Shiba Inu community, saying that one of her favorite things was seeing it engage with the community to make its wishes heard. However, Robinhood would prioritize safety over the "short-term gain" of a new token listing and has left Shiba Inu fans waiting since.

The October 2021 price surge famously minted a billionaire, as one wallet was uncovered that had bought $8,000 worth of SHIB in summer 2020, which was worth over $5.7 billion at SHIB's all-time high valuation. The wallet owner has not been determined, although the person appears to have sent parts of their fortune to other wallets several weeks after the price explosion.

The price surge also led to increased adoption across token holders. WhaleStats compiled data of the largest ETH wallets and found that SHIB represents over 20% of the combined market shares of all ERC-20 tokens held by Ethereum whales. CRO was a distant second with only 5%. SHIB also surpassed the one-million holder mark following its all-time high.

Moreover, retailers increasingly started adopting SHIB as a means of payment following its popularity among small-time investors. American electronics retailer Newegg added SHIB at the start of December 2021, partnering with crypto payments platform BitPay to unlock payments in SHIB. This followed the adoption of SHIB by over 500 merchants, according to payments firm CoinGate, with even Samsung-backed digital wallet provider ZenGo adding SHIB to its options and a restaurant in Paris accepting it as a payment option. At one point, the Shiba Inu community called for McDonald's to accept Shiba Inu, although the social media effort eventually fell short.

A major reason for the surging price of SHIB was a continued effort by the SHIB community to build a utility for the Shiba Inu token and the subsequent emergence of an entire Shiba Inu ecosystem.

ShibaSwap is the coin's designated DEX that started as a fork of Sushiswap that has, in the words of Ryoshi, its "own little twists and elements." Furthermore, Shiba Inu also plans to develop SHI, which will be the "global exchange of value for plebs," an algorithmic stablecoin pegged to one cent instead of one dollar as most other stablecoins. Its launch is planned after the Shiba layer-two solution called Shibarium, and Ryoshi envisions SHI to work in a similar way to DAI. That way, SHI would have collateral as a backstop that would push it back to one cent if the peg was lost.

According to Ryoshi, the end goal is that SHI becomes a global stable currency "that plebs across all countries are able to use as both a store of value and method of payment."

In addition to SHI, a financial ecosystem is planned, and SHI would be added as a weighted pool pair on Curve. In that case, Ryoshi expects forks of the major DeFi protocols to appear in the Shiba Inu ecosystem, which would require an immutable bridge to function.

Shiba would also start hosting localized meetups and a once-a-year ShibaCon convention that would be hosted at an easily accessible location in a country without oppressive visa restrictions "for the sake of inclusiveness for global plebs."

One immediate change Shiba Inu has implemented is increasing token burns, which have sparked renewed interest in the token at the beginning of 2022. Bigger Entertainment, a crypto record label selling merch, NFTs and concert tickets, organized a SHIB burn party that burned over 239 million SHIB over Christmas. In total, the team has burned almost one billion SHIB since the end of October.

SHIB: The Metaverse and Shibarium
While looking to expand the utility of SHIB, the development team introduced a metaverse — a virtual reality project powered by non-fungible tokens (NFTs). Here, users can mint parcels of digital lands using ETH or its equivalent amount in SHIB tokens. Interestingly, other Shiba Inu-related tokens – BONE and LEASH – will also play various roles as different phases of the metaverse come to life.

According to the team, the goal is to create a fun, immersive and interactive environment where users can explore, earn passive income and collect in-game resources. Importantly, the metaverse will allow users to develop and launch their own projects. In total, there are 100,595 plots of land on SHIB: The Metaverse. Of the total, 36,431 digital lands were unlocked on April 13, 2022 – the launch date of the introductory phase of the metaverse.

Like most existing metaverses, the parcels of lands found on SHIB: The Metaverse are categorized based on the desirability of their locations. Naturally, lands in strategic areas are valued higher than the rest. The four tiers of lands on Shiba's metaverse are as follows:

Tier 4: Silver Fur: 17,030 Lands
Tier 3: Gold Tail: 7,356 Lands
Tier 2: Platinum Paw: 5,714 Lands
Tier 1: Diamond Teeth: 2,024 Lands
Below were the launch prices of the tiers listed above:

0.2 $ETH for (Tier 4) Silver Fur
0.3 $ETH for (Tier 3) Gold Tail
0.5 $ETH for (Tier 2) Platinum Paw
1 $ETH for (Tier 1) Diamond Teeth
Originally, the plan was to allow the use of ETH alone to mint unlocked lands. However, the team later decided to add the SHIB token as a minting currency, thereby expanding the utility of the token.

Although users have begun to purchase SHIB lands, the SHIB metaverse will not officially launch until Shibarium, an upcoming layer 2 scaling network that will eventually house the entire Shiba ecosystem, is deployed. The plan is to have a layer 2 ecosystem built on top of Ethereum's layer 1 network to meet the computational and memory demands for running the fast-expanding Shiba ecosystem. Apart from hosting the SHIB metaverse on Shibarium, the team is also looking to deploy a stablecoin, called SHI, on the layer 2 solution.

Another notable development that coincided with the introduction of SHIB: The Metaverse was the launch of a new website where future developments and expansions, including the launch of the metaverse, will take place.

Related Pages:
Learn more about Dogecoin.

Learn more about Dogelon Mars.

Learn more about the dog-related meme-coin craze.

Learn more about trading with our definition of a dead cat bounce.

Curious about the crypto space? Read our educational section — Alexandria.

Want to keep track of Shiba Inu prices live? Download the CoinMarketCap mobile app!

Want to convert the Shiba Inu price today to your desired fiat currency? Check out CoinMarketCap exchange rate calculator.

How Many SHIBA INU (SHIB) Coins Are There in Circulation?
The SHIBA INU website notes that they locked 50% of the total token supply on Uniswap, and "threw away the keys!" The remaining 50% was "burned to Vitalik Buterin." In response to the "gift" from the Shiba Inu team, Vitalik Buterin sent 50 trillion SHIB tokens, worth $1 billion in Shiba Inu price at that time, to India's Covid Crypto Relief Fund. Buterin then burned 40% of the total supply to a dead wallet.

There are several other tokens described on the SHIBA INU website — LEASH, which has "been unleashed and will not rebase," and BONE, the "Dogecoin Killer." LEASH has a fixed supply of only 107,646 tokens, and offers enticing rewards to liquidity providers, while BONE has 250,000,000 tokens, and is a governance token that allows holders to vote on the Shiba Inu's Doggy decentralized autonomous organization (DAO).

The WoofPaper notes that you will use SHIB to DIG for BONES or ShibaSwap, or even BURY your tokens. "Trainers" can teach their Shibas to SWAP tokens as well — all of these actions create "Returns" that are put into the Puppy Pools, where the #SHIBARMY has the option of BURYING or DIGGING for BONES.

At the beginning of May 2021, dog-themed meme tokens like Shiba Inu saw transaction volumes in the hundreds of millions of dollars. Shiba Inu price hit an all-time high (ATH) of 0.00005 on May 10, 2021, before going on a downtrend since.

As mentioned above, on May 13, Vitalik Buterin (who was given half of the token supply by the developers) announced that he was donating a large amount of these tokens to a fund helping India with COVID relief. The SHIBA developers had not anticipated Buterin selling his tokens, but eventually, the two parties came to a mutually satisfying agreement. Later, the fund actually lamented having sold its tokens too early, as its share would have been worth well over $1 billion at the token's all-time high.

Despite rumors alleging the contrary, Elon Musk does not own any SHIB. He confirmed as much in a tweet, which caused a temporary price drop.

How Is the SHIBA INU Network Secured?
According to 22-page-long SHIB's WoofPaper, SHIB is an ERC-20 token based on Ethereum, a proof-of-work blockchain currently transitioning to proof-of-stake.

Ryoshi announced in his final blog post to date that Shiba Inu would develop its own layer-two solution that would be more decentralized than Polygon or BSC, both of which Ryoshi regards as not truly decentralized. The Shiba L2 would be called "Shibarium" and is supposed to use BONE as its primary pair token, as written above.

According to Ryoshi, Shibarium would be built by a "very competent blockchain team" with experience building such solutions. Developer Eric M has announced in the Shiba Inu Discord server that Shibarium would launch "soon," although he did not specify a date.

Where Can You Buy SHIBA INU (SHIB)?
It is possible to buy Shiba Inu on Binance, Huobi, Coinbase, Gate.io, Uniswap (V2) and OKEx, among other exchanges.

To check Shiba Inu price live in the fiat currency of your choice, you can use CoinMarketCap's converter feature directly on the Shiba Inu currency page. Alternatively, use the dedicated exchange rate converter page. Popular Shiba Inu price pairs include: SHIB/USD, SHIB/GBP, SHIB/AUD and SHIB/EUR.

For more information about how to buy crypto with fiat, check out CoinMarketCap's education portal — Alexandria.

Our most recent articles about Shiba Inu:

Technical Analysis: DOGE, SHIB, BABYDOGE, CATE, FLOKI and SAITAMA (Mar. W1)
6 Crypto Innovations That Cannot Be Uninvented
Technical Analysis: DOGE, SHIB, BABYDOGE, CATE, FLOKI and SAITAMA (Feb. W4)
Technical Analysis: DOGE, SHIB, BABYDOGE, CATE, FLOKI and SAITAMA (Feb. W3)
Technical Analysis: DOGE, SHIB, BABYDOGE, CATE, FLOKI and SAITAMA (Feb. W2)

Technical Analysis: DOGE, SHIB, BABYDOGE, CATE, FLOKI and SAITAMA (Mar. W1)
By Young Crypto Wolf
3m
Created 1d ago, last updated 1d ago
Memecoins continue to create lower lows. How long will this continue?

Technical Analysis: DOGE, SHIB, BABYDOGE, CATE, FLOKI and SAITAMA (Mar. W1)
Table of Contents
DOGE/USDT
SHIB/USDT
BABYDOGE/USDT
CATE/USDT
FLOKI/USDT
SAITAMA/USDT
Summary
Last week, memecoins continued to sell off. In this week’s technical analysis, we will analyze the price charts of DOGE, SHIB, BABYDOGE, CATE, FLOKI and SAITAMA in the 4-hour time frame to monitor their current conditions.
DOGE/USDT

This week, DOGE printed a lower high as it continued to sell off. At the time of writing, the coin is sitting at a minor support level.It is important to note this is a critical level for the bulls. Losing this support will assist the price towards the November 2022 low. The bears have shifted the market structure since the rejection of the area of interest shown above.
Also Read: How to Use Market Structure In Trading?

SHIB/USDT

Last week, SHIB was looking to extend its rally to the upside. The token got rejected at the 1,380 level and printed a lower high.
At the time of writing, SHIB is sitting at a major support level. Losing it would be devastating for the bulls and assist the bears with a push towards the September low. This level will be pivotal, therefore, expect some consolidation first.
BABYDOGE/USDT

This week, BABYDOGE continued to sell off towards its major support level at 2.7. The bulls need to step in to prevent further lower lows.At the time of writing, there is no confirmation of support at this level. A close and hold above the most recent lower high is a sign of a reversal being on the way. Losing this level will assist the bears with a push towards the 2.0 zone.
Also Read: How to Use Moving Averages in Trading?

CATE/USDT

Last week, CATE attempted to break above the September low. It got rejected, which triggered a sell-off. CATE is sitting at the area of interest - a pivotal level for the token.
At the time of writing, the direction is not clear. The bulls need to close and hold above the September low for a breakout. However, the bears can shift the market structure with a close below the area of interest.
Also Read: Breakout vs Fakeout (False Breakout)

FLOKI/USDT

This week, FLOKI confirmed support with a bounce off the 3,700 level. Later, the token entered a consolidation pattern, and it is now trying to break out.Taking a step back, FLOKI is respecting the ascending channel pattern. The bulls need to close and hold above 5,500 to extend this rally.
SAITAMA/USDT

Last week, SAITAMA was rejected by its range resistance mentioned in the last week’s analysis.
Since then, the token has returned to its range support level. This is a critical level, as losing this support will assist the bears with a push towards the August low.
Summary
Here is a summary of the above:

DOGE has started to break down.
SHIB is looking to establish support.
BABYDOGE recently printed a lower low.
CATE is sitting at a pivotal level.
FLOKI is setting up for a breakout.
SAITAMA is sitting at its range support.
Writer’s Disclaimer: This article is based on my limited knowledge and experience. It has been written for educational purposes. It should not be construed as advice in any shape or form. As always do your own research.

This article contains links to third-party websites or other content for information purposes only (“Third-Party Sites”). The Third-Party Sites are not under the control of CoinMarketCap, and CoinMarketCap is not responsible for the content of any Third-Party Site, including without limitation any link contained in a Third-Party Site, or any changes or updates to a Third-Party Site. CoinMarketCap is providing these links to you only as a convenience, and the inclusion of any link does not imply endorsement, approval or recommendation by CoinMarketCap of the site or any association with its operators. This article is intended to be used and must be used for informational purposes only. It is important to do your own research and analysis before making any material decisions related to any of the products or services described. This article is not intended as, and shall not be construed as, financial advice. The views and opinions expressed in this article are the author’s [company’s] own and do not necessarily reflect those of CoinMarketCap. CoinMarketCap is not responsible for the success or authenticity of any project, we aim to act as a neutral informational resource for end-users.
6 Crypto Innovations That Cannot Be Uninvented
By Ivan Cryptoslav
8m
Created 1d ago, last updated 1d ago
Considering the kind of impact crypto has on the global economy, the crypto market is here to stay! Here is a list of 6 crypto innovations that cannot be uninvented!

6 Crypto Innovations That Cannot Be Uninvented
Table of Contents
Bitcoin as Legal Tender and Collateral
Stablecoin Settlements
Re-Decentralize The Net
Decentralized Finance
NFTs
DAOs
Conclusion
In a crypto bear market, it is easy to think the sky is falling.

"Crypto will go to zero, this time for real!"

"I knew it's all a scam!"

"The industry will never recover from the collapse of FTX!"

We even reviewed the book of crypto-hater, Stephen Diehl. And yet, in Q1 2023, crypto is still here. Bitcoin is still here, and it bounced 50% off its lows. Ethereum is gearing up for a major upgrade — the Shanghai hard fork.
Crypto is here to stay!

As Messari put it: "despite setbacks, crypto is inevitable."

This article examines Messari's six crypto innovations that cannot be "uninvented" and how they have changed the world.

Subscribe
Join us in showcasing the cryptocurrency revolution, one newsletter at a time. Subscribe now to get daily news and market updates right to your inbox, along with our millions of other subscribers (that’s right, millions love us!) — what are you waiting for?

Bitcoin as Legal Tender and Collateral

Let's start with the obvious one.

The OG.

The Big Daddy.

Heck, Bitcoin is already so normal that you can't even list it by itself anymore. So let's point out the fact that Bitcoin is effin' legal tender in, not one, but two countries!
Yes. The good ol' orange coin will pay for your McDonald's meal in El Salvador and the Central African Republic (they have McD, right?).

Nowadays, even the Swiss city of Lugano accepts Bitcoin for burgers:

McDonald's may be able to take away Bitcoin as a payment option, but nobody can take away the network anymore. Bitcoin can be considered money at this point; it's just not equally accepted across different places.

CoinMarketCap Alexandria has covered Bitcoin as an innovation in many articles:

“Can Bitcoin Become Money?” looks at how money works and whether Bitcoin is suitable as money. HyperBitcoinization still looks unlikely but bottom-up adoption is underway.
“Are Bitcoin and Ethereum Commodities?” explains what commodities are and why Bitcoin is a digital commodity.
“Is Bitcoin the Next World Reserve Currency?” explores what it would take for Bitcoin to be adopted as a reserve currency akin to the dollar.
And that’s before we start talking about Bitcoin’s benefits for the energy grid or the environment. It’s easy to forget that none of this existed two decades ago. What would we be doing with flare gas if there was no Bitcoin to mine it with?
In an era where central banks buy gold in record quantities, hard assets are king (cue Bretton Woods III). This appeal of “outside money” could be the catalyst that Bitcoin needs for a strong push in the coming years. But even if that doesn’t materialize, Bitcoin is here to stay. And the world is better for it.
Stablecoin Settlements

Stablecoins are unsexy and easily forgotten.

Because they are so normal and useful that you don't even notice them anymore!

The on-chain volume of stablecoin settlements has exploded over recent years. It barely budged in the bear market; quite the opposite. Last November holds the record for stablecoin settlements:

Is it any surprise that Messari says, "stablecoins should be our leading export"? Because they are already well on their way without the government even doing anything (or maybe because of).
Countries like Argentina, plagued by hyperinflation, are already adopting stablecoins autonomously. Argentines are exiting en masse to stablecoins. 17% of the population bought cryptocurrency and half of that are stablecoins. The province of San Luis realized what was going on and even allowed the issuance of its own stablecoin pegged to the USD.
Stablecoin regulation in some not-too-distant future looks highly likely. The Stablecoin Transparency Act would regulate how stablecoin issuers are licensed, if they receive banking licenses, and what kind of reserves they need.
Ironically, stablecoins would help the dollar a great deal. With the right regulation, they could accelerate the Dollar Milkshake Theory and allow the dollar to crowd out other currencies. The political and economic benefits for the US would be enormous. The US would extend its economic and financial power at almost no marginal cost. People in developing countries would opt in voluntarily to stablecoins.
Americans may not realize it but saving your money in a (fairly) stable fiat currency is a big deal for the better part of the world. Stablecoins fix this:

If you told an Argentine ten years ago that there would be a way to safely buy and store dollars without running the risk of being (physically) robbed, they almost certainly would have been all ears…

Re-Decentralize The Net
Remember Kazaa?

Or Napster?

And what about ICQ?

Ahh, good ol' times. Simpler times. More decentralized times.
Gen Z won't understand, but there was a time, a short time, when the internet was decentralized. Actually decentralized. Those programs are a testament to that.

And maybe, just maybe, blockchains fix that and bring back a decentralized internet.

Of course, the new and centralized internet has its perks. Google logins are convenient. And auto-logins across 295 websites that save you the hassle of remembering 47 different passwords are nice too.

But it also has a ton of downsides:

Like Big Tech censorship.
Or online echo chambers.
Or rampant social media disinformation that has real-world consequences for politics and society.
Now if only there was a way to re-decentralize the internet again...

over to you, Ethereum network

Signing in with Ethereum, though still far away, would be a great step to taking back control of the internet and user data. As Ethereum scaling progresses and the network grows, so will its bandwidth and its usability for ordinary internet users.
ENS could help decentralize domains and web registrars. Decentralized physical infrastructure, like file storage and sharing services, can help build a more open internet. Both hardware and software can and should become more decentralized in the future. That’s before considering the possibilities of decentralized content creation, thanks to AI programs.
The reason there is even a chance to pull this off is that we have blockchains. No uninventing of that one.

Decentralized Finance
If someone told you five years ago, you’d be able to get a loan on a dog-themed exchange with cryptocurrency as collateral, would you have believed them?

And yet, here we are.

DeFi is another sector that seems so familiar, so intimate as if it’s always been there. But it’s easy to forget that DeFi summer actually only kicked off in 2020. Before that, there were no money markets, no flash loans, and no algorithmic stablecoins. That last one may actually have been for the better…
DeFi in 2023 seems stuck in a rut after the recent bear market. But the state of DeFi in 2023 is much better than you might initially think. The innovations we take for granted, such as decentralized token swaps and lending markets are not going anywhere. And new utility is already on the horizon.
Regenerative finance could become DeFi’s bridge into the real world. Klima DAO already tried bringing carbon emissions trading to the blockchain. It didn’t go so well, but the next generation is gearing up to do it better.
And then there are real-world assets and the potential to tokenize them. Imagine if you could buy your next house on the blockchain. Heck, you can already buy NFTs and get real-world fashion, so this does not seem that far-fetched at all.
Or think about getting real loans in crypto. Real as in loans, which you can use for real-world use cases. First experiments like Goldfinch already exist, and more is on the way.
No, DeFi is not nearly as “normal” as you may think it is. But it’s going to become normal because it isn’t going anywhere.

NFTs

NFTs have possibly had the single biggest cultural impact of the entire crypto revolution.

Yes, Bitcoin is cool and all, but has Bitcoin featured at award shows? The Bored Apes have. The most popular NFT collections have replaced Disney as the “cool youthful brand.”
Ok, fair enough, there has been a massive bubble in NFT speculation. And the NFT market is in pretty bad shape. But that doesn’t take away from the fact that there’s a tool that can prove something is unique on the internet.
Does it work flawlessly?

No.

Is there a whole lot of room to improve?

Oh, you bet!

Will the tech be more or less used in the future?

Ahem, more. A lot more.

Just look at real-world luxury and fashion brands getting into NFTs. If one company can make a profit with NFTs, all the others will want the same. NFTs don’t even have to be front and center to be used. Companies can stealth-introduce them without users even noticing. Even Reddit is on board with NFTs.
And the crypto-native use cases of NFTs aren’t going away completely. NFT marketplaces are booming. Generative art could be a future trend that is still on almost anybody’s radar.
And let’s not even talk about crypto and AI. In a world where content is abundant, proving its uniqueness and authenticity will become highly valuable.
NFTs are a lot more than just jpegs, and the world is about to find out…

DAOs

If NFTs are the culturally most impactful thing crypto has invented…

…then DAOs could become the politically and socially most impactful ones.

Ok, DAOs haven’t achieved that much yet. Sure, they tried to buy a copy of the constitution. There are a couple of social DAOs dedicated to “good causes.” But few people, even in crypto, know of them.
Heck, many people would even struggle to explain what a DAO is. So here’s a good analogy:

DAOs can help overcome social challenges because they are good at aligning interests and rewarding contributors for their effort. Let’s compare them to corporations, shall we?

DAOs are truly owned by their contributors, corporations are beholden to shareholders.
DAOs can be formed and dissolved quickly and can act just as fast.
You can easily join or quit a DAO, which makes them decentralized and, paradoxically, so well-aligned.
Yea, DAOs haven’t made the big splash that NFTs or DeFi have. But that’s because they are the most complex and most socially relevant crypto innovation. You can even spin off a digital country from a DAO. And the use cases don’t end there:
DAOs can be investment clubs for on-chain assets.
DAOs can advance the building of public goods on the blockchain like Gitcoin does.
DAOs can stand for social or environmental causes like Klima DAO.
People spend more time online than offline. They laugh, love, and eat online. Is social and political coordination going to be the one thing that stays offline?

Nope. You will see and hear much more about DAOs in the future.

Conclusion
This list should give you a good idea of the six crypto innovations that are here to stay:

Bitcoin, the pristine digital collateral that combines ownership with possession.
Stablecoins, which will probably revolutionize savings for people in developing countries.
Decentralization, which we had, then lost, and are now about to regain in a better way.
DeFi, which puts a bank in your pocket, where you own the assets and make the rules.
NFTs, which have gone from strange jpegs to a cultural phenomenon and consumer technology.
DAOs, which are revolutionizing the way we coordinate decision-making.
Don’t get lost in the noise, doom talk, and price volatility of everyday crypto. There is a lot of technology that is here to stay. And a lot more that is still coming.

This article contains links to third-party websites or other content for information purposes only (“Third-Party Sites”). The Third-Party Sites are not under the control of CoinMarketCap, and CoinMarketCap is not responsible for the content of any Third-Party Site, including without limitation any link contained in a Third-Party Site, or any changes or updates to a Third-Party Site. CoinMarketCap is providing these links to you only as a convenience, and the inclusion of any link does not imply endorsement, approval or recommendation by CoinMarketCap of the site or any association with its operators. This article is intended to be used and must be used for informational purposes only. It is important to do your own research and analysis before making any material decisions related to any of the products or services described. This article is not intended as, and shall not be construed as, financial advice. The views and opinions expressed in this article are the author’s [company’s] own and do not necessarily reflect those of CoinMarketCap.

Technical Analysis: DOGE, SHIB, BABYDOGE, CATE, FLOKI and SAITAMA (Feb. W4)
By Young Crypto Wolf
3m
Created 1w ago, last updated 1w ago
Memecoins recently found local support. Will the market continue to create new highs?

Technical Analysis: DOGE, SHIB, BABYDOGE, CATE, FLOKI and SAITAMA (Feb. W4)
Table of Contents
DOGE/USDT
SHIB/USDT
BABYDOGE/USDT
CATE/USDT
FLOKI/USDT
SAITAMA/USDT
Summary
Last week, memecoins experienced a sharp sell-off. In this week’s technical analysis, we will analyze the price charts of DOGE, SHIB, BABYDOGE, CATE, FLOKI and SAITAMA in the 4-hour time frame to monitor their current conditions
DOGE/USDT

Last week, DOGE was looking to confirm support at $0.08. Since then, the coin has found support and is working on its next leg to the upside.
The market is sitting at a pivotal level - the bulls need a close above the $0.088 resistance zone to extend the rally. Rejection from this level would assist bears with a push towards the $0.08 zone.
Also Read: Breakout vs Fakeout (False Breakout)

SHIB/USDT

This week, SHIB continues to look stronger than the other memecoins. The token has established strong support above the area of interest shown in the chart.
At the time of writing, SHIB is looking to continue to the upside. The bears can still take over by rejecting the price at this level. The bulls need to close and hold the price above the 1,400 level to extend this rally.
BABYDOGE/USDT

Last week, BABYDOGE printed a new monthly high and found resistance. Since then, the token has been creating lower highs and lower lows.
At the time of writing, the market is approaching the 2.7 support level. The bulls need to keep the price above this level if they want to extend this rally. Losing it will shift the market structure in favor of the bears and could lead towards a sell-off.
Also Read: What Are Ranges in Trading and How to Use Them?

CATE/USDT

This week, CATE was trying to break above the September low. However, the token failed and is now looking for support. The bulls need to stay above the area of interest to keep the market structure in their favor.
At the time of writing, CATE is sitting in a consolidation pattern with no major signs of breaking out. Something to look for this week is to see if the area of interest shown in the chart above holds as support.
Also Read: What Is Fundamental Analysis in Cryptocurrency and Stocks?

FLOKI/USDT

Last week, FLOKI was trying to confirm support after printing a new monthly high. Since then, the token has continued to create higher highs and higher lows. The bulls need to stay above the 3,500 support level to continue this movement. Losing this level will shift the market structure in favor of the bears.
SAITAMA/USDT

This week, SAITAMA remains in its consolidation pattern from last week’s analysis.
At the time of writing, there are no major signs of the price breaking out of its range. This level will continue to be a battle between the bulls and bears.
Also Read: 2019 vs 2023: Analyzing The Market Structures

Summary
Here is a summary of the above:

DOGE has confirmed support.
SHIB is looking to extend this move to the upside.
BABYDOGE is establishing a new range.
CATE is looking for support.
FLOKI is looking for a higher low.
SAITAMA continues to sit in a consolidation pattern.
Writer’s Disclaimer: This article is based on my limited knowledge and experience. It has been written for educational purposes. It should not be construed as advice in any shape or form. As always do your own research.

This article contains links to third-party websites or other content for information purposes only (“Third-Party Sites”). The Third-Party Sites are not under the control of CoinMarketCap, and CoinMarketCap is not responsible for the content of any Third-Party Site, including without limitation any link contained in a Third-Party Site, or any changes or updates to a Third-Party Site. CoinMarketCap is providing these links to you only as a convenience, and the inclusion of any link does not imply endorsement, approval or recommendation by CoinMarketCap of the site or any association with its operators. This article is intended to be used and must be used for informational purposes only. It is important to do your own research and analysis before making any material decisions related to any of the products or services described. This article is not intended as, and shall not be construed as, financial advice. The views and opinions expressed in this article are the author’s [company’s] own and do not necessarily reflect those of CoinMarketCap. CoinMarketCap is not responsible for the success or authenticity of any project, we aim to act as a neutral informational resource for end-users.
Technical Analysis: DOGE, SHIB, BABYDOGE, CATE, FLOKI and SAITAMA (Feb. W3)
By Young Crypto Wolf
3m
Created 2w ago, last updated 2w ago
Memecoins recently faced a strong resistance. Will the market continue to sell off this week?

Technical Analysis: DOGE, SHIB, BABYDOGE, CATE, FLOKI and SAITAMA (Feb. W3)
Table of Contents
DOGE/USDT
SHIB/USDT
BABYDOGE/USDT
CATE/USDT
FLOKI/USDT
SAITAMA/USDT
Summary
Last week, memecoins tried to test the resistance multiple times but failed. In this week’s technical analysis, let’s analyze the price charts of DOGE, SHIB, BABYDOGE, CATE, FLOKI and SAITAMA in the 4-hour time frame to analyze their current conditions.
DOGE/USDT

This week, DOGE printed lower highs and lower lows, after being rejected by the area of interest shown above. The next level of support is at the $0.07 zone.
It is crucial for bulls to confirm support at or above $0.07. Losing this level will shift the market structure in favor of the bears.
Also Read: A Complete Guide To Death Cross and Golden Cross?

SHIB/USDT

Last week, SHIB was the pack leader, pushing the memecoins toward new local highs. This week, the token got rejected by the resistance and is now trying to confirm support.
SHIB has printed a lower high inside a major resistance level. Let’s see if the area of interest (shown in the image above) proves to be a good support. Losing it may push the price to the September low.
BABYDOGE/USDT

This week, BABYDOGE continued to move up, printing a new monthly high. At the time of writing, the token is in the middle of a correction.
The BABYDOGE bulls have a couple of levels where support can be established. It is important to note that the token has been trending since the beginning of 2023. A correction at this level would not be a surprise for the bulls. If the bears succeed to push the price below the 3.8 zone, expect to see the token continue towards 3.0.
Also Read: How to Use Market Structure In Trading?

CATE/USDT

Last week, CATE was looking to extend its move to the upside. Since then, it has found resistance at the 6,500 level.
At the time of writing, there is no confirmation of support. The next support level visible in the chart is the October low. The bears are trying to stay below the area of interest (marked in the chart). A push towards this level can put CATE in a minor consolidation pattern.
Also Read: How to Trade Options on Bybit?

FLOKI/USDT

This week, FLOKI is in the middle of a minor correction after finding resistance at the 3,500 level. At the time of writing, the token is trying to establish support.
The bulls need to close and hold the price above the 2,100 level, as losing this level will print a lower low for the bears. This zone will be a battleground between the bulls and bears.
SAITAMA/USDT

SAITAMA has been in a consolidation pattern since last week.The range from 2,600 and 3,000 will be a battleground between the bulls and bears. Any breakout/breakdown from the range will determine the next direction.
Also Read: How to Use Moving Averages in Trading?

Summary
Here is a summary of the above:

DOGE continues to cool off.
SHIB is looking for support.
BABYDOGE continues to lead the memecoins.
CATE is returning to its consolidation pattern.
FLOKI is looking to establish support.
SAITAMA remains in a consolidation pattern.
Writer’s Disclaimer: This article is based on my limited knowledge and experience. It has been written for educational purposes. It should not be construed as advice in any shape or form. As always do your own research.

This article contains links to third-party websites or other content for information purposes only (“Third-Party Sites”). The Third-Party Sites are not under the control of CoinMarketCap, and CoinMarketCap is not responsible for the content of any Third-Party Site, including without limitation any link contained in a Third-Party Site, or any changes or updates to a Third-Party Site. CoinMarketCap is providing these links to you only as a convenience, and the inclusion of any link does not imply endorsement, approval or recommendation by CoinMarketCap of the site or any association with its operators. This article is intended to be used and must be used for informational purposes only. It is important to do your own research and analysis before making any material decisions related to any of the products or services described. This article is not intended as, and shall not be construed as, financial advice. The views and opinions expressed in this article are the author’s [company’s] own and do not necessarily reflect those of CoinMarketCap. CoinMarketCap is not responsible for the success or authenticity of any project, we aim to act as a neutral informational resource for end-users.
Technical Analysis: DOGE, SHIB, BABYDOGE, CATE, FLOKI and SAITAMA (Feb. W2)
By Young Crypto Wolf
3m
Created 3w ago, last updated 3w ago
Memecoins are sitting at a pit stop. Is the market due for a reversal?

Technical Analysis: DOGE, SHIB, BABYDOGE, CATE, FLOKI and SAITAMA (Feb. W2)
Table of Contents
DOGE/USDT
SHIB/USDT
BABYDOGE/USDT
CATE/USDT
FLOKI/USDT
SAITAMA/USDT
Summary
Last week, as memecoins were trending to the upside, the market ran into major resistance. In this week’s technical analysis, let’s check the price charts of DOGE, SHIB, BABYDOGE, CATE, FLOKI and SAITAMA in the 4-hour time frame to analyze their current performance.
DOGE/USDT

Last week, DOGE tried to extend its move to the upside. After successfully closing the price above the area of interest (marked in the chart), the coin found resistance at the $0.10 level. Since then, DOGE has returned to the area of interest.
The DOGE bulls need to stay above $0.09, as losing this level would shift the market structure in favor of the bears. A close and hold below the $0.09 level will put the coin in a consolidation pattern.
Also Read: How to Use Moving Averages in Trading?

SHIB/USDT

This week, SHIB broke out of the resistance level. After being stuck in a consolidation pattern since the middle of January, the token has started to pick up momentum.
SHIB has managed to close and hold above the area of interest (shown in the chart). At the time of writing, there are no major signs of a reversal. If the price forms a higher low, expect to see further movement towards 1,600.
BABYDOGE/USDT

Last week, BABYDOGE was the memecoin pack leader. This week remains the same and the token continues to print higher highs and higher lows.
At the time of writing, BABYDOGE is in a minor consolidation pattern, setting up for its next move. The bears need to push the price up and close it below the 2.7 support zone to shift the market structure. However, there are no major signs of a reversal of the trend.
Also Read: How to Find Support and Resistance Zones?

CATE/USDT

This week, CATE is on the move to break out of the resistance. At the time of writing, the token is looking to flip resistance into support.
The bears are looking to close and hold the price below the September low to take control. However, the bulls are looking to hold this level as support.
Also Read: How To Use TradingView?

FLOKI/USDT

Last week, FLOKI was approaching a major resistance level. Since then, the token broke all the resistance levels in its way and made its way to the 3,400 level.
At the time of writing, FLOKI has flipped a minor resistance level into support. The bears have to put in some effort to shift the market structure.
SAITAMA/USDT

This week, SAITAMA continues its consolidation pattern. The last couple of memecoins that were stuck in a consolidation pattern ended up in a breakout (not financial advice!).This level will continue to be a battleground between the bears and bulls. A close and hold below the nearest support or resistance level will determine the direction.
Also Read: How to Invest in Crypto in Uncertain Times?

Summary
Here is a summary of the above:

DOGE is starting to cool off.
SHIB continues to print higher highs and higher lows.
BABYDOGE continues to lead the pack!
CATE has made a break to the upside.
FLOKI is looking to extend its move.
SAITAMA continues to sit in a consolidation pattern.
Writer’s Disclaimer: This article is based on my limited knowledge and experience. It has been written for educational purposes. It should not be construed as advice in any shape or form. As always do your own research.
This article contains links to third-party websites or other content for information purposes only (“Third-Party Sites”). The Third-Party Sites are not under the control of CoinMarketCap, and CoinMarketCap is not responsible for the content of any Third-Party Site, including without limitation any link contained in a Third-Party Site, or any changes or updates to a Third-Party Site. CoinMarketCap is providing these links to you only as a convenience, and the inclusion of any link does not imply endorsement, approval or recommendation by CoinMarketCap of the site or any association with its operators. This article is intended to be used and must be used for informational purposes only. It is important to do your own research and analysis before making any material decisions related to any of the products or services described. This article is not intended as, and shall not be construed as, financial advice. The views and opinions expressed in this article are the author’s [company’s] own and do not necessarily reflect those of CoinMarketCap. CoinMarketCap is not responsible for the success or authenticity of any project, we aim to act as a neutral informational resource for end-users.