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How Much SHIB Is Needed to Enter the Top 1% of Shiba Inu Rich List and What Would It Be Worth at ATH?

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As Shiba Inu attempts to sustain its recovery, investors are increasingly watching what it would take to join the top ranks of SHIB holders.

According to CoinLore data, investors need at least 380 million SHIB tokens to enter the top 1% of the Shiba Inu rich list. Although the threshold may appear relatively modest given SHIB’s massive supply, only 16,785 wallets currently hold at least 380 million tokens out of approximately 1.68 million SHIB holders. 

Worth If SHIB Reclaims ATH 

At SHIB’s current price of $0.0000053, acquiring 380 million tokens would cost approximately $2,014. However, that holding could become significantly more valuable if Shiba Inu revisits its previous all-time high (ATH) of $0.00008845. At that price, 380 million SHIB would be worth $33,611, representing a potential 1,568% gain from its current valuation.

While reclaiming the ATH remains hypothetical, the calculation highlights why investors closely monitor SHIB rich-list rankings, particularly during periods of market weakness and accumulation. 

The Top 0.2% and 0.04% Thresholds 

Investors targeting positions above the top 1% face significantly higher entry requirements.

For instance, entering the top 0.2% requires 2.7 billion SHIB. CoinLore data shows that only 3,357 wallets hold at least this amount. At the current price of $0.0000053, purchasing 2.7 billion SHIB would cost $14,310. If SHIB returns to its previous ATH, however, the same holdings would be worth roughly $238,815.

The requirements rise sharply for investors targeting the top 0.04%. Reaching this tier requires approximately 18.3 billion SHIB, a balance held by only about 703 wallets.

At the current price, acquiring 18.3 billion SHIB would require around $96,990. Meanwhile, a return to $0.00008845 would push the value of that holding to approximately $1.62 million. 

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Current Standing of Most SHIB Holders

Despite Shiba Inu having 1.68 million holders, SHIB ownership remains heavily concentrated among the largest addresses.

According to CoinLore, the top 10 richest addresses collectively hold 624.98 trillion SHIB, representing about 62.5% of the total supply. However, this figure requires context because many of these addresses belong to exchanges and burn wallets rather than individual investors.

Meanwhile, addresses ranked 11th to 100th collectively hold 205.53 billion SHIB, equivalent to about 20.55% of the total supply. Addresses ranked 101st to 1,000th, on the other hand, collectively hold 121.32 trillion SHIB, or roughly 12.13% of the supply.

By comparison, addresses ranked from 1,001st through 1.68 millionth collectively control only about 48.14 trillion SHIB, representing 4.81% of the total supply. 

Shiba Inu Rich List
Shiba Inu Rich List

These figures illustrate the difference between holding a relatively modest amount of SHIB and holding enough to rank among the token’s largest addresses. Notably, these projections depend entirely on SHIB returning to its previous ATH, which is not guaranteed. Nevertheless, they illustrate how dramatically the value of large SHIB holdings could change if the meme coin eventually revisits its historical peak.  

XRP Settles $159.9 Billion in First Half of 2026

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The XRP Ledger (XRPL) settled $159.9 billion in transactions during the first half of 2026, a new study from asset manager 21Shares found.

The development highlights substantial network activity even as blockchain fees plunged 81.6% year over year.

In its report, 21Shares said XRPL fees declined from $6.43 million in the first half of 2025 to just $1.18 million in H1 2026. At the same time, the network’s stablecoin base expanded by 1,131%.

XRPL Transaction Fees Plunge

Notably, revenue fell mainly because activity dropped in two areas: AMM swap fees and NFT royalties. AMM fees on XRPL fell 80.3% from a year earlier, while NFT royalties dropped 69%. Together, they made up about 89% of the ledger’s total revenue.

Regular transaction fees users pay when they send XRP also fell 66.3%, from $269,600 to $90,800. However, the decline has a smaller impact on XRP holders than the revenue figures suggest.

Most XRPL fees are burned rather than paid to validators. Only regular transaction fees, account closure fees and voluntary overpayments reduce XRP’s supply.

According to 21Shares, only 10.6% of the $1.18 million generated in the first half of 2026 benefited XRP holders through the burn mechanism.

XRP Ledger (XRPL) fees dropping in H1
XRP Ledger (XRPL) fees dropping in H1

RLUSD Supply Surges 1,131%

While XRPL’s revenue fell, its stablecoin activity grew quickly. Ripple’s RLUSD stablecoin reached a total supply of $1.56 billion by June 30. About 52% of that supply was held on XRPL, up from just 10% a year earlier.

This growing stablecoin supply provides the liquidity for decentralized finance (DeFi) and tokenized real-world assets on XRPL. Institutional use is also growing.

In July, Aviva Investors added a share class of its USD Liquidity Fund to XRPL. It joined institutions such as abrdn, Ondo and Société Générale, which have also brought tokenized financial products and stablecoins to the network.

XRP Supply Growth Remains a Challenge

Even though XRP has lower supply growth than some other crypto payment networks, 21Shares said rising supply is still a challenge for holders.

XRP’s circulating supply grew 5.5% in the first half of 2026, compared with 8.8% for Stellar and 9.6% for TON.

At current fee levels, XRP holders face a 5.5% annual impact from this supply growth. 21Shares said fees alone cannot offset the dilution, so XRP needs more demand and adoption.

XRP as Collateral is the Missing Catalyst

Meanwhile, 21Shares said the next big boost for XRP will come from institutions using XRP as collateral for loans or trades.

A new lending framework, XLS-65/66, seeks to allow tokenized assets to be used as collateral on XRPL. However, loans could still use RLUSD or tokenized Treasuries instead of XRP.

So far, regulated institutions have not widely accepted XRP as collateral. 21Shares said XRPL is at a turning point: transaction activity is strong, stablecoin supply is growing, and more institutions are joining the network, but these developments have not yet created clear demand for XRP itself.

Analyst Says Shiba Inu Is Entering ‘Rocket Phase’ After Key Breakout

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Crypto analyst Crypto Sheriff believes Shiba Inu has entered a new phase of its market cycle and could soon transition into the rocket phase.

According to Sheriff, Shiba Inu has spent roughly five years trading below a descending trendline, reflecting a prolonged period of weakness. During that time, SHIB also endured an extended consolidation phase near its lows as persistent selling pressure kept its price below key resistance levels.

However, Sheriff argues that SHIB’s market structure has now changed. The token has broken above the long-term descending trendline, suggesting that it may have moved beyond the decline and consolidation stages and entered a recovery phase.

Shiba Inu Moves From Decline to Recovery

The chart shared by Sheriff illustrates this progression. SHIB entered a prolonged decline after reaching its all-time high of $0.00008845 in October 2021. The token then spent months consolidating near its lows before recently breaking above the descending trendline.

With that breakout, Sheriff believes the recovery phase may not be the final stage of the current cycle. Instead, he expects SHIB to eventually transition into what he describes as the “rocket phase,” which could trigger a much stronger price advance.

“Decline, consolidation, recovery, and the rocket phase,” he remarked. 

Although Sheriff did not provide a specific price target for the anticipated move, he suggested that another major rally could arrive soon. 

SHIB/USDT Price Chart
SHIB/USDT Price Chart

His outlook comes shortly after SHIB staged a notable rally that pushed its price above $0.0000061. The token has since surrendered some of those gains and is currently trading around $0.0000053.

Nonetheless, Sheriff maintains that the pullback does not invalidate his recovery thesis. Instead, he views the broader market structure as evidence that SHIB could be preparing for another significant move.

Previous Bullish SHIB Outlook

Sheriff’s latest projection is consistent with his historically bullish outlook on Shiba Inu. He has previously predicted that SHIB could eventually reach new all-time highs of $0.0002 and even $0.001.

However, those targets remain significantly above the token’s current price. SHIB has also failed to return close to its previous all-time high of $0.00008845 since Sheriff first made those projections in October 2024.

The token’s strongest move following that prediction came in December 2024, when SHIB climbed to roughly $0.000033 amid a broader crypto market rally following Donald Trump’s reelection. SHIB subsequently lost momentum and has remained below $0.00001 since the beginning of 2026.

At $0.000005292, SHIB would need to surge about 3,679% to reach $0.0002. Meanwhile, reaching $0.001 would require an even larger increase of roughly 18,796%.

Therefore, Sheriff’s “rocket phase” represents a highly bullish scenario rather than a guaranteed outcome.

IOG Executive Issues Crucial Reminder to Cardano DReps and SPOs Ahead of Key Governance Deadline

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IOG Product Manager Carlos Lopez De Lara has reminded Cardano’s DReps and SPOs about an upcoming governance deadline that could affect the network’s ability to approve key protocol changes.

The initiative centers on voting for four newly elected Constitutional Committee members before the September 1 deadline.

According to Lopez De Lara, the vote is particularly important because Cardano needs a fully seated Constitutional Committee to approve an upcoming Constitution Update linked to the network’s planned Leios scalability upgrade.

He warned that failing to seat enough committee members could create a governance bottleneck. As a result, Cardano could be unable to advance certain proposals that require Constitutional Committee approval.

Low Participation Raises Governance Concerns

The reminder comes as participation in the vote remains below the required threshold. DRep support currently stands at 43.04%, compared with the 67% approval threshold. Meanwhile, SPO support is 15.32%, well below the required 51%. 

Cardano Governance Action
Cardano Governance Action

If the vote fails, the Constitutional Committee could shrink from seven active members to just three. That would put the committee below the minimum required size of five members and potentially create a bottleneck for governance actions requiring constitutional oversight.

However, the potential setback would primarily affect Cardano’s governance process rather than the network’s basic operations. The blockchain would continue to produce blocks and process transactions normally, even if the committee could not perform certain governance functions.

Leios Upgrade Adds Urgency to the Vote

The urgency surrounding the vote is closely tied to Cardano’s planned Leios upgrade. The scalability-focused protocol enhancement is designed to increase the network’s transaction-processing capacity by enabling greater parallelism in block processing. 

However, before the necessary governance changes can move forward, Cardano needs a properly seated Constitutional Committee to approve the Constitution Update associated with Leios.

Leios entered the public testnet phase in late June 2026, while its mainnet deployment is planned for later this year as part of the Dijkstra era.

Dijkstra Era Will Introduce Leios and Peras

The upcoming Dijkstra era is expected to roll out in two phases. The first phase will deploy Leios on Cardano’s mainnet later this year, while the second phase will introduce Peras.

After testing, both upgrades will require the appropriate governance actions to receive approval from Cardano’s DReps, SPOs, and Constitutional Committee before mainnet activation.

Therefore, seating the Constitutional Committee remains critical to Cardano’s upcoming upgrade process. Without the required constitutional oversight, governance could become a bottleneck and delay the approval of these major protocol changes.

Grayscale, Bitwise, Franklin Add $24M to XRP ETFs as Inflows Extend to Eight Straight Sessions

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XRP ETFs attract new money on Tuesday, with four funds receiving a combined $23.87 million as positive flows extend to eight consecutive trading sessions.

Bitwise led the inflows with $11.02 million, followed by Franklin Templeton with $6.39 million. Grayscale recorded $4.28 million in new investments, while Canary Capital added another $2.19 million.

Meanwhile, 21Shares was the only XRP ETF issuer that recorded no new investment during the session.

The latest inflows bring cumulative net inflows in the XRP ETF market to $1.59 billion. Total assets held by the funds have also climbed to around $1.46 billion.

Bitwise remains the largest inflow leader

Bitwise continues to lead XRP ETF issuers by cumulative net inflows. Specifically, the Bitwise XRP ETF has now attracted $561.95 million since launch. 

Canary Capital follows with $471.87 million, while Franklin Templeton has recorded $444.55 million in cumulative inflows. Grayscale has attracted approximately $137.67 million.

XRP ETF Inflows Records |SoSoValue
XRP ETF Inflows Records |SoSoValue

The sustained inflows also come as Bitwise President Teddy Fusaro highlighted a sharp increase in trading activity for the firm’s XRP ETF.

Fusaro said more than $80 million worth of the ETF changed hands on Monday. Meanwhile, the two previous sessions each recorded more than $60 million in trading volume.

He described the activity as a massive jump and noted that it marked the fund’s highest-volume trading day since launch.

XRP ETF inflows accelerate in August

The latest inflows also add to a stronger month for XRP ETFs. So far, the ETFs have recorded approximately $80.74 million in net inflows in August. That is already well above July’s roughly $27 million inflow.

June was stronger than July, with approximately $59.46 million in monthly inflows. The acceleration in August suggests that demand for XRP investment products has strengthened alongside the token’s recent market activity. The price has surged over 50% over the past week.

Monthly flow records
Monthly flow records

Goldman Sachs returns to XRP ETFs

The latest ETF activity also comes as institutional interest in XRP investment products receives further attention.

Goldman Sachs recently disclosed that it held approximately $86.5 million across five spot XRP ETFs as of June 30, according to its latest Form 13F filing with the U.S. SEC.

Bitwise accounted for the bank’s largest XRP ETF position at approximately $25.8 million, followed by Franklin Templeton at $25.4 million. 

Goldman also held about $19.5 million through Canary Capital, $8.2 million through 21Shares and $7.6 million through Grayscale.

The position marked a significant return to XRP ETFs after Goldman Sachs completely exited its XRP ETF exposure during the first quarter.

With cumulative ETF inflows now approaching $1.6 billion and eight consecutive sessions of positive flows, the latest figures point to sustained demand for XRP exposure despite the token’s recent volatility.

RLUSD Hits $2B Milestone as Ripple Mints $540M on XRP Ledger

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Ripple’s RLUSD stablecoin has crossed the $2 billion milestone after Ripple minted more than $540 million on the XRP Ledger (XRPL) over the past 30 days.

According to on-chain data from a community-driven RLUSD tracker, RLUSD’s circulating supply has reached $2.08 billion, marking the first time the stablecoin has crossed $2 billion since its launch in December 2024. 

At this market cap, RLUSD remains the eighth-largest stablecoin by valuation, but needs another $690 million to overtake PayPal USD (PYUSD) and become the seventh-largest. 

RLUSD Hits $2B Milestone CoinMarketCap
RLUSD Hits $2B Milestone | Source: CoinMarketCap

Despite ranking eighth, RLUSD has the fourth-largest 24-hour trading volume among the top eight stablecoins, indicating it records more trading activity than some higher-valued stablecoins.

The $2 billion milestone comes as Ripple has increased RLUSD minting toward the end of August. Over the past 30 days, Ripple minted $1.13 billion worth of RLUSD and burned $643.5 million, resulting in a net supply increase of more than $486 million over the period.

Ethereum Overtakes XRP in RLUSD Supply

Most of the recent mints have taken place on Ethereum, while the majority of the burns have occurred on the XRP Ledger. This has allowed Ethereum to overtake XRPL again in terms of RLUSD supply.

Of the $2.08 billion RLUSD supply, $1.124 billion now sits on Ethereum, while the XRP Ledger holds $956.67 million. The recent change reverses the situation from just a few weeks ago, when XRPL held more RLUSD than Ethereum.

RLUSD Supply on XRP Ledger
RLUSD Supply on XRP Ledger

Specifically, over the past 30 days, Ripple minted $540.4 million worth of RLUSD on XRPL but burned $478.3 million. This left the XRP Ledger with a relatively small $62.1 million net supply increase during the period.

Ethereum recorded $592.2 million in RLUSD mints over the same period, while Ripple burned only $165.2 million. As a result, Ethereum recorded a much larger $427 million net supply increase. Overall, about 87% of the new RLUSD supply added over the past 30 days went to Ethereum.

Ethereum Records Higher RLUSD Growth Than XRPL

The pace of RLUSD minting on Ethereum increased last week as XRP and the broader crypto market began a recovery campaign. From Aug. 18 to 21, Ethereum recorded four consecutive days of positive intraday RLUSD supply changes, adding a combined $220.4 million.

Ethereum added $133.9 million on August 21 alone, marking the largest intraday RLUSD supply addition recorded on the network. Before that, Ethereum also saw significant additions of $105 million on August 14 and $48 million on August 5. These increases contributed to RLUSD reaching the $2 billion milestone.

The XRP Ledger also recorded several days of strong RLUSD minting, but the increases remained smaller than those on Ethereum. In addition, large burns on XRPL limited the network’s overall supply growth.

Between Aug. 18 and 21, XRP Ledger recorded a net RLUSD supply increase of $89 million. Its largest intraday mint reached $91 million on August 3, but this increase was overshadowed by a large $121.5 million burn on July 31.

With Ethereum now holding $1.124 billion in RLUSD compared with $956.67 million on XRPL, the distribution between the two networks has shifted again. It remains to be seen whether Ripple will resume larger RLUSD mints on the XRP Ledger as it continues expanding the stablecoin beyond the $2 billion milestone.

XRP Jumps 43% in One Week, Yet XRP/BTC Is Still Down 88% as Bitcoin Leads by 361%

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While XRP has staged a strong recovery over the past week, its performance relative to Bitcoin (BTC) has recently come into question.

The coin surged from below $1 to as high as $1.70 before retracing to around $1.43. Despite the rally, a long-term comparison with Bitcoin shows just how much XRP has lagged the largest cryptocurrency.

Bitcoin commentator Adam Livingston highlighted the contrast in a post on X. He noted that XRP is now trading around $1.43, compared with $3.02 on January 6, 2018.

That means XRP remains well below its price from more than eight years ago, despite the growth of the crypto market.

Meanwhile, Bitcoin has delivered a dramatically different performance. Livingston noted that BTC has climbed from around $17,000 on January 6, 2018, to approximately $78,401. That represents a 361% increase over the same period.

“Everything goes to zero against Bitcoin,” Livingston wrote, adding that the XRP/BTC pair is down 88.2%.

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XRP Surges More Than 70% Before Retracing

The long-term comparison comes as XRP has experienced a dramatic move over the past week.

XRP traded at $0.978 last week before climbing to approximately $1.70, representing a gain of more than 72%. After the rally, the token has pulled back to around $1.43 but remains up roughly 43% over the past seven days.

Bitcoin has also rallied during the same period, moving from roughly $62,000 to as high as $81,000. BTC remains up around 22% over the past week.

The different performances have renewed debate in the crypto community. 

‘Opportunity Cost’

X user Alexander Mason Alden argued that the comparison illustrates opportunity cost in crypto markets. Alden said XRP doesn’t need to fall to zero to underperform; it only needs BTC to compound faster for long enough.

Bitcoin commentator @Micro2Macr0 took a much harsher view, criticizing XRP and its connection to Ripple’s business model and calling it a scam.

XRP Remains a Major Trading Opportunity for Some

However, not all Bitcoin commentators are bearish on XRP. Davinci Jeremie, a longtime Bitcoin commentator and XRP critic, has previously made bullish price predictions for XRP.

In January 2025, when XRP was trading around $3.13, Jeremie predicted that the token could reach between $20 and $24 during the cycle.

However, Jeremie has also distinguished between XRP as a trading opportunity and XRP as a long-term investment. He remains critical of the token’s links to the banking and financial system and argues that these characteristics make XRP less attractive as a long-term holding.

The contrasting views underline the divide surrounding XRP. The token has delivered a powerful short-term rally, but its longer-term performance against Bitcoin remains significantly weaker.

While the latest surge shows that XRP could still make strong gains, those gains may look much smaller when compared with Bitcoin.

231 Million XRP Just Left Binance, What Are Whales Preparing For?

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XRP whales have increased their activity on Binance, with more than 231 million XRP withdrawn from the exchange in a single day.

This movement coincided with the cryptocurrency’s market capitalization surging by $44 billion over three days.

The development was highlighted by CryptoQuant author Darkfost, who said whale withdrawals from Binance have reached their highest level in six months.

XRP Whales Withdraw More Than 231M Tokens

According to Darkfost, whales withdrew more than 231 million XRP from Binance, worth over $335 million at the time.

The scale of the withdrawals stands out against the recent trend. Darkfost noted that the 90-day average for these whale outflows is around $40 million, meaning the latest movement represents a significant and sudden increase in large-holder activity.

The withdrawals indicate that major XRP holders are moving tokens away from centralized exchanges and into private wallets, reducing the amount of XRP immediately available for trading.

Darkfost suggested that the accumulation phase may have accompanied, or even helped fuel, XRP’s recent rally.

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XRP Market Cap Adds $44B, Road to $2?

The whale withdrawals came as XRP recorded a powerful price surge. According to Darkfost, XRP’s market capitalization increased by approximately $44 billion within three days. During this time, the coin gained more than 70%, moving from $0.987 to $1.70.

Darkfost suggested that if the accumulation trend continues, XRP could test the $2 level within a relatively short period.

Binance Whale Inflows Also Reach Four-Month High

Adding another layer to the picture, CryptoQuant author Arab Chain reported that XRP whale inflows to Binance have also increased significantly.

Data cited by Arab Chain showed that total whale inflows over the past 30 days reached approximately 1.451 billion XRP, marking a four-month high.

The increase follows a period of declining whale inflows through July and early August. Activity began recovering in mid-August, with several sharp increases in daily inflows pushing the 30-day total higher.

Arab Chain noted that a single large transaction did not drive the rise. Instead, whale activity has increased consistently over several weeks.

XRP whale inflow to Binance
XRP whale inflow to Binance

What the Conflicting Flows Mean for XRP

The simultaneous increase in whale inflows and outflows suggests large XRP holders are becoming significantly more active.

Large inflows to Binance can precede selling, but they can also mean portfolio reallocation or preparations for anticipated market moves.

At the same time, the 231 million XRP whale withdrawal highlighted by Darkfost indicates that a substantial amount of XRP has recently moved away from Binance. Should the withdrawal continue, the situation could support a further XRP price surge to $2.

Has the XRP Rally Come to an End or Is the Current Pullback Merely a Pause?

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After soaring to a three-month high, XRP has pulled back alongside the broader market, leading to questions about whether its recent rally has come to an end.

XRP recorded one of its strongest weekly rallies in recent memory, climbing from a cycle low of $0.9877 on Aug. 17 to a three-month high of $1.69 by Aug. 22. The move gave XRP a nearly 70% gain and put it ahead of Bitcoin’s 23.6% and Ethereum’s 28.1% gains over the same period. 

XRP now trades at $1.43, still up 42% over the past week. However, the drop from $1.69 has raised an important question: has the rally run out of steam, or is the current pullback only a short break before another move higher?

Is the XRP Rally Facing an Exhaustion?

XRP showed its strongest sign of weakness on Aug. 22. The token reached $1.69 before a wave of liquidations pushed it down to $1.07 within minutes. The 37% intraday drop showed how much leverage had built up during the rally. 

Across the wider crypto market, liquidations reached about $1.35 billion over 24 hours, including roughly $500 million in leveraged long positions. Bitcoin fell 2.5% during the same period, while Ethereum dropped 5% and Solana declined 11.5%.

Other market data also points to a possible cooldown. Funding rates turned negative during the crash and have not fully recovered. Derivatives open interest remained around $3.66 billion after the drop, while 72.5% of Binance accounts held long positions at the peak. 

XRP Rally Faces Roadblock
XRP Rally Faces Roadblock

Such a heavy concentration of long positions can increase the risk of another sharp decline. XRP’s Williams %R reading stood at -4 on Aug. 21, and its daily price moved above the upper Bollinger Band. Both showed that the market had moved too far, too quickly, and may need more time to cool down.

Why the Rally May Only be Seeing a Break

However, XRP continues to show several signs of strength. At press time, the 20-day EMA stood at $1.2392, the 50-day EMA at $1.1630, and the 200-day EMA at $1.3483. XRP remains above all three levels, keeping the broader short- and medium-term trend positive. 

The MACD line also remained above its signal line, with a positive histogram of 0.0439. Momentum has slowed, but the indicator has not yet confirmed a bearish trend.

XRP Still Above Key EMAs
XRP Still Above Key EMAs

On-balance volume also supports the bullish view. XRP saw more trading volume on its up days than on its down days during the rally, which indicates continued buying interest.

In terms of whale activity, addresses holding between 1 million and 10 million XRP recently added about 380 million tokens in one week. This level of buying suggests that some large holders still expect more upside instead of an immediate end to the rally.

Key Levels to Decide the Next Trend

The $1.40-$1.42 area now stands as the key support zone. If buyers defend this range, XRP could spend some time moving between $1.42 and $1.60 as the market absorbs the recent gains and volatility. 

However, a sustained drop below $1.42 could instead send the price toward $1.34, where the 200-day EMA may provide support. 

On the upside, XRP needs to break back above the $1.63-$1.70 range to regain its strongest bullish momentum. A clear move above this resistance could put $2.00 back in focus.

The CLARITY Act also remains an important factor. The U.S. Senate plans to hold a cloture vote on Sept. 15, which gives the XRP community another major event to watch in the coming weeks. 

Prediction market Polymarket currently puts the odds of the bill advancing in 2026 at 15%. A positive result could support a move toward $2.00, while a failed vote combined with weakness across the broader crypto market could push XRP toward $1.20-$1.25.

Shiba Inu 4% Price Drop Wipes Out 48,348,433,371 SHIB in Long Positions

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Shiba Inu falls 14% from its multi-month high as SHIB faces key $0.000005 support, heavy long liquidations, and rising ranking pressure.

Shiba Inu is losing momentum after briefly breaking above the $0.000006 level, giving back much of its gains from the latest crypto market rally.

Over the weekend, SHIB climbed to a multi-month high of $0.000006191, helping the token rise to 26th place among the world’s largest cryptocurrencies. However, the subsequent pullback across the broader crypto market has put renewed pressure on the asset.

At press time, SHIB traded at $0.000005298, down 14.42% from its recent high. The token also fell 4.09% over the past 24 hours, bringing the $0.000005 level into immediate focus. A break below this level could expose SHIB to further losses.

Shiba Inu Long Traders Take Heavy Losses

The latest decline has also hurt leveraged traders who positioned for SHIB to extend its rally.

According to CoinGlass data, $256,150 worth of SHIB leveraged positions were liquidated over the past 24 hours. Long traders absorbed most of these losses, accounting for $252,960 in liquidations.

These liquidations represented 48,348,433,371 (48.34 billion) SHIB tokens. By comparison, short traders recorded only $3,190 in liquidations, equivalent to roughly 602.11 million SHIB. 

Shib Liquidation
Shib Liquidation

Meanwhile, SHIB’s liquidation figure remains small compared with the broader crypto market. Across the market, $322.01 million worth of leveraged positions were liquidated during the same period, affecting 80,418 traders.

Nonetheless, additional downside could put even more pressure on SHIB bulls. If the token falls toward $0.00000497, potential long liquidations could increase to approximately $300,440, while short liquidations could reach about $4,780. 

Shiba Inu Possible Liquidation
Shiba Inu Possible Liquidation

SHIB Faces Ranking Pressure

The recent decline has also weakened SHIB’s position in the global cryptocurrency rankings.

Currently, SHIB ranks as the 27th-biggest cryptocurrency, with a market cap of $3.11 billion. However, its position is becoming vulnerable as rival assets close the gap.

Sui ranks 28th with a market cap of around $3.1 billion, while Cronos and Tether Gold occupy the 29th and 30th positions with valuations of $2.85 billion and $2.82 billion, respectively. Therefore, another decline in SHIB’s market cap could allow Sui to overtake the meme coin and push it out of the top 27 cryptocurrencies.