Shiba Inu Price Forecast: 91T Age Consumed Signals Potential 25% SHIB Rally - Cryptured.com

On Wednesday, Shiba Inu closed above the $0.000015 barrier, even though it had corrected 4%. Market reports indicate the SHIB price drop is connected to the controversy surrounding a Chinese corporation that bought $300 million worth of Trump’s official memecoin.

SHIB Stable at $0.000015 Amid Chinese-Induced Memecoin Market Volatility

As memecoin markets reacted to a $300 million purchase of Trump’s official token by a Chinese internet company allegedly associated with TikTok interests, the price of Shiba Inu fell 4% intraday on Wednesday, closing at $0.000015.

Based on CoinGecko data, bulls maintain a 25% seven-day timeframe gain after SHIB’s decisive closing over $0.000015.

The Trump Coin transaction accounts for over 11% of its $2.7 billion market capitalization at the time of writing, but while the acquisition originally excited Trump Coin supporters, sentiment in the memecoin sector went defensive due to concerns about possible market manipulation risks.

The $300 million deal coincides with the continuing investigation into Trump’s connection to the newly created USD1 stablecoin, which has resulted in the GENIUS Act being suspended, which exacerbates those worries.

As a result, increased concerns about upcoming regulatory action and legislative scrutiny exacerbated the risk-off attitude among holders of SHIB and other memecoins.

Most Top Memecoins Declined Wednesday, with 9 of 10 in the Red

Widespread drops occurred in the broader meme currency market on Wednesday following the controversial $300 million TRUMP deal. As per CoinGecko data, nine out of the ten most valuable tokens by market capitalization experienced daily losses.

At $78.6 billion, the sector’s entire market capitalization has decreased by 0.7% in the past day. Curiously, SHIB’s price dropped 3.6%, Dogecoin’s (DOGE), the top-ranked memecoin, dropped 2.4%, and BONK, the biggest memecoin in Solana, dropped 3.5%.

Only the memecoin project based on NFT, Pudgy Penguins, managed to buck the declining trend with a noteworthy 8% rise.

The coordinated sell-off of the leading memecoin indicates that more traders are actively shifting their money to more specialized mid-cap memecoins that are not subject to US regulatory scrutiny.

SHIB Holds Strong: Age Consumed Flat at 91.4T While Holders Stand Firm

After the $300 million TrumpCoin deal, on-chain data indicates that Shiba Inu’s long-term owners are still hesitant to sell. This story is further emphasized by Santiment’s Age Consumed measure, which can be calculated by multiplying the amount of tokens moved by the time since their last move.

As of Thursday, the Age Consumed of Shiba Inu remained unchanged at 91.4 trillion tokens.

A noteworthy pattern of lower highs in Age Consumed, even during price declines, can be seen by zooming out to a three-month perspective. Two key factors make this uncommon dynamic optimistic, particularly after a sector-wide bearish occurrence.

In the first place, it indicates that the 3.6% Shiba Inu price adjustment on Wednesday was mostly caused by short-term traders and has not caused panic among long-term investors. This lessens the harmful consequences of the cautious stance taken Wednesday about the top-ranked memecoins in the face of heightened political scrutiny.

Secondly, such a subdued Age SHIB is more likely to consolidate and rebound than to succumb, according to consumer behavior following a sharp correction.

It appears that holders’ conviction is still strong because there hasn’t been any notable token transfer from dormant SHIB wallets.

SHIB may immediately rise toward $0.000018 if it holds the $0.000015 support and market sentiment levels out.