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Shiba Inu decouples from the market; is this catalyst why?

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Shiba Inu [SHIB] has decoupled from the crypto market, as its daily and weekly charts were painted green. Unlike most cryptos, SHIB managed to push its price up in a bearish market. A catalyst for this growth could be the upcoming ETH Toronto event, which will include announcements regarding its much-hyped Shibarium.

Read Shiba Inu’s [SHIB] Price Prediction 2023-24

While most of the crypto market remained under the bears’ influence, Shiba Inu decoupled. As per CoinMarketCap, SHIB’s price rose by more than 5% and 10% in the last 24 hours and the past week, respectively.

At the time of writing, it was trading at $0.000008651 with a market capitalization of over $5.1 billion, making it the 14th largest crypto.

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Along with the price, SHIB’s 24-hour trading volume also shot up by 34%, which was bullish. A look at SHIB’s daily chart gave a better understanding of what supported this surge.

The Exponential Moving Average (EMA) Ribbon displayed a bullish crossover a few days ago. Moreover, Shiba Inu’s Relative Strength Index (RSI) gained upward momentum.

SHIB’s Chaikin Money Flow (CMF) also spiked and went above the neutral mark.

Source: TradingView

Interestingly, whale activity around SHIB also increased, as evident from the spike in its whale transaction count. Moreover, Whalestats’ data revealed that the memecoin was also the top traded token among the top 100 Ethereum whales in the last 24 hours.

Thanks to the price uptick, the memecoin’s MVRV Ratio also increased. However, it was surprising to see a dip in SHIB’s social volume, considering its immense popularity. The metric registered a dip over the last few days.

Therefore, there is a possibility of SHIB’s price action turning bearish in the coming days.

Source: Santiment

While SHIB enjoyed price gains, BONE ShibaSwap [BONE] also had its share of price upticks. Notably, BONE outperformed SHIB on the weekly chart. CoinMarketCap’s data further pointed out that BONE was up by more than 23% over the last week. At press time, it was valued at $1.65 with a market cap of over $379 million.

Though SHIB’s latest uptrend can be attributed to bullish market indicators and metrics, due credit should also be given to the upcoming event. On 15 and 16 August, the Ethereum Toronto event will take place, where major announcements are expected to be made for Shibarium.

As the event date draws closer, Shiba Inu’s marketing team is leaving no stone unturned in building up the hype. LUCIE recently posted a tweet highlighting Shibarium’s aim and how the blockchain plans to integrate Self-Sovereign Identity (SSI) into its protocols.

Here's a concise explanation of $SHIB plan to integrate Self-Sovereign Identity (SSI) into its protocols:

– The integration of SSI is aimed at enhancing the security of the Shibarium

– With SSI, users will have more control over their digital identities, allowing them to… pic.twitter.com/Ec57uws3yu

— 𝐋𝐔𝐂𝐈𝐄 | Summer of Shibarium (@LucieSHIB) August 3, 2023

How much are 1,10,100 SHIBs worth today?

As per the tweet, the integration of SSI is aimed at enhancing the security of the Shibarium. Users will have more control over their digital identities thanks to SSI, which enables them to securely manage and share their personal data.

As the hype continues to grow, it will be interesting to see how SHIB and other tokens in its ecosystem react over the days to follow.

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  • 14.10.25 08:46 robertalfred175

    CRYPTO SCAM RECOVERY SUCCESSFUL – A TESTIMONIAL OF LOST PASSWORD TO YOUR DIGITAL WALLET BACK. My name is Robert Alfred, Am from Australia. I’m sharing my experience in the hope that it helps others who have been victims of crypto scams. A few months ago, I fell victim to a fraudulent crypto investment scheme linked to a broker company. I had invested heavily during a time when Bitcoin prices were rising, thinking it was a good opportunity. Unfortunately, I was scammed out of $120,000 AUD and the broker denied me access to my digital wallet and assets. It was a devastating experience that caused many sleepless nights. Crypto scams are increasingly common and often involve fake trading platforms, phishing attacks, and misleading investment opportunities. In my desperation, a friend from the crypto community recommended Capital Crypto Recovery Service, known for helping victims recover lost or stolen funds. After doing some research and reading multiple positive reviews, I reached out to Capital Crypto Recovery. I provided all the necessary information—wallet addresses, transaction history, and communication logs. Their expert team responded immediately and began investigating. Using advanced blockchain tracking techniques, they were able to trace the stolen Dogecoin, identify the scammer’s wallet, and coordinate with relevant authorities to freeze the funds before they could be moved. Incredibly, within 24 hours, Capital Crypto Recovery successfully recovered the majority of my stolen crypto assets. I was beyond relieved and truly grateful. Their professionalism, transparency, and constant communication throughout the process gave me hope during a very difficult time. If you’ve been a victim of a crypto scam, I highly recommend them with full confidence contacting: 📧 Email: [email protected] 📱 Telegram: @Capitalcryptorecover Contact: [email protected] 📞 Call/Text: +1 (336) 390-6684 🌐 Website: https://recovercapital.wixsite.com/capital-crypto-rec-1

  • 14.10.25 08:46 robertalfred175

    CRYPTO SCAM RECOVERY SUCCESSFUL – A TESTIMONIAL OF LOST PASSWORD TO YOUR DIGITAL WALLET BACK. My name is Robert Alfred, Am from Australia. I’m sharing my experience in the hope that it helps others who have been victims of crypto scams. A few months ago, I fell victim to a fraudulent crypto investment scheme linked to a broker company. I had invested heavily during a time when Bitcoin prices were rising, thinking it was a good opportunity. Unfortunately, I was scammed out of $120,000 AUD and the broker denied me access to my digital wallet and assets. It was a devastating experience that caused many sleepless nights. Crypto scams are increasingly common and often involve fake trading platforms, phishing attacks, and misleading investment opportunities. In my desperation, a friend from the crypto community recommended Capital Crypto Recovery Service, known for helping victims recover lost or stolen funds. After doing some research and reading multiple positive reviews, I reached out to Capital Crypto Recovery. I provided all the necessary information—wallet addresses, transaction history, and communication logs. Their expert team responded immediately and began investigating. Using advanced blockchain tracking techniques, they were able to trace the stolen Dogecoin, identify the scammer’s wallet, and coordinate with relevant authorities to freeze the funds before they could be moved. Incredibly, within 24 hours, Capital Crypto Recovery successfully recovered the majority of my stolen crypto assets. I was beyond relieved and truly grateful. Their professionalism, transparency, and constant communication throughout the process gave me hope during a very difficult time. If you’ve been a victim of a crypto scam, I highly recommend them with full confidence contacting: 📧 Email: [email protected] 📱 Telegram: @Capitalcryptorecover Contact: [email protected] 📞 Call/Text: +1 (336) 390-6684 🌐 Website: https://recovercapital.wixsite.com/capital-crypto-rec-1

  • 15.10.25 18:07 crypto

    Cryptocurrency's digital realm presents many opportunities, but it also conceals complex frauds. It is quite painful to lose your cryptocurrency to scam. You can feel harassed and lost as a result. If you have been the victim of a cryptocurrency scam, this guide explains what to do ASAP. Following these procedures will help you avoid further issues or get your money back. Communication with Marie ([email protected] and WhatsApp: +1 7127594675) can make all the difference.

  • 15.10.25 21:52 harristhomas7376

    "In the crypto world, this is great news I want to share. Last year, I fell victim to a scam disguised as a safe investment option. I have invested in crypto trading platforms for about 10yrs thinking I was ensuring myself a retirement income, only to find that all my assets were either frozen, I believed my assets were secure — until I discovered that my BTC funds had been frozen and withdrawals were impossible. It was a devastating moment when I realized I had been scammed, and I thought my Bitcoin was gone forever, Everything changed when a close friend recommended the Capital Crypto Recover Service. Their professionalism, expertise, and dedication enabled me to recover my lost Bitcoin funds back — more than €560.000 DEM to my BTC wallet. What once felt impossible became a reality thanks to their support. If you have lost Bitcoin through scams, hacking, failed withdrawals, or similar challenges, don’t lose hope. I strongly recommend Capital Crypto Recover Service to anyone seeking a reliable and effective solution for recovering any wallet assets. They have a proven track record of successful reputation in recovering lost password assets for their clients and can help you navigate the process of recovering your funds. Don’t let scammers get away with your hard-earned money – contact Email: [email protected] Phone CALL/Text Number: +1 (336) 390-6684 Contact: [email protected] Website: https://recovercapital.wixsite.com/capital-crypto-rec-1

  • 15.10.25 21:52 harristhomas7376

    "In the crypto world, this is great news I want to share. Last year, I fell victim to a scam disguised as a safe investment option. I have invested in crypto trading platforms for about 10yrs thinking I was ensuring myself a retirement income, only to find that all my assets were either frozen, I believed my assets were secure — until I discovered that my BTC funds had been frozen and withdrawals were impossible. It was a devastating moment when I realized I had been scammed, and I thought my Bitcoin was gone forever, Everything changed when a close friend recommended the Capital Crypto Recover Service. Their professionalism, expertise, and dedication enabled me to recover my lost Bitcoin funds back — more than €560.000 DEM to my BTC wallet. What once felt impossible became a reality thanks to their support. If you have lost Bitcoin through scams, hacking, failed withdrawals, or similar challenges, don’t lose hope. I strongly recommend Capital Crypto Recover Service to anyone seeking a reliable and effective solution for recovering any wallet assets. They have a proven track record of successful reputation in recovering lost password assets for their clients and can help you navigate the process of recovering your funds. Don’t let scammers get away with your hard-earned money – contact Email: [email protected] Phone CALL/Text Number: +1 (336) 390-6684 Contact: [email protected] Website: https://recovercapital.wixsite.com/capital-crypto-rec-1

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