The post New Zero for Shiba Inu (SHIB) May Be Inevitable, November Price History Reveals appeared on BitcoinEthereumNews.com. Cryptocurrency Shiba Inu (SHIB) may be written off by some crypto enthusiasts, but it remains the biggest meme coin in the Ethereum ecosystem, with its lore tied directly to Vitalik Buterin.  October, however, was a ruthless period for SHIB: for the first time in a long while, its price broke below the important psychological level of $0.00001 per coin, adding that nasty new zero to its quotes. The drop did not last long, but the damage was already done, and now the entire setup for the Shiba Inu coin can be characterized as fragile. Unfortunately, those who believe that SHIB’s quick recovery above the $0.00001 mark is enough to keep the meme coin safe from further declines may soon face a harsh reality check. At least that is what the coin’s price history suggests going into November.  Source: CryptoRank According to data from CryptoRank, the average return for SHIB in this month stands at 0.26%, which may seem optimistic under current market conditions. But a deeper look reveals an uglier picture: the median return, a more reliable metric, comes in at -9.1% over the last four years. Outstanding performance for SHIB In 2021 and 2022, SHIB lost an average of 27% in November. Conversely, in 2023 and 2024, the price surged by an average of 27%. Still, the latter was imbalanced by 2024’s exceptional 48.8% gain, making it more of an outlier than a dependable trend. You Might Also Like Of course, price history is never something to rely on completely — as is the case with everything in the crypto market. Yet in the absence of stronger benchmarks, it can still provide useful context as to what to expect from the asset during a period dominated by fear, uncertainty and doubt. Source: https://u.today/new-zero-for-shiba-inu-shib-may-be-inevitable-november-price-history-revealsThe post New Zero for Shiba Inu (SHIB) May Be Inevitable, November Price History Reveals appeared on BitcoinEthereumNews.com. Cryptocurrency Shiba Inu (SHIB) may be written off by some crypto enthusiasts, but it remains the biggest meme coin in the Ethereum ecosystem, with its lore tied directly to Vitalik Buterin.  October, however, was a ruthless period for SHIB: for the first time in a long while, its price broke below the important psychological level of $0.00001 per coin, adding that nasty new zero to its quotes. The drop did not last long, but the damage was already done, and now the entire setup for the Shiba Inu coin can be characterized as fragile. Unfortunately, those who believe that SHIB’s quick recovery above the $0.00001 mark is enough to keep the meme coin safe from further declines may soon face a harsh reality check. At least that is what the coin’s price history suggests going into November.  Source: CryptoRank According to data from CryptoRank, the average return for SHIB in this month stands at 0.26%, which may seem optimistic under current market conditions. But a deeper look reveals an uglier picture: the median return, a more reliable metric, comes in at -9.1% over the last four years. Outstanding performance for SHIB In 2021 and 2022, SHIB lost an average of 27% in November. Conversely, in 2023 and 2024, the price surged by an average of 27%. Still, the latter was imbalanced by 2024’s exceptional 48.8% gain, making it more of an outlier than a dependable trend. You Might Also Like Of course, price history is never something to rely on completely — as is the case with everything in the crypto market. Yet in the absence of stronger benchmarks, it can still provide useful context as to what to expect from the asset during a period dominated by fear, uncertainty and doubt. Source: https://u.today/new-zero-for-shiba-inu-shib-may-be-inevitable-november-price-history-reveals

        Highlights:  The BNB price is down 2% to $1111.46, despite the trading volume spiking 26%. The BNB on-chain demand has slipped, with the open interest plummeting 3% showing a drop in demand.  The technical outlook shows a tight tug-of-war, with the bulls attempting to overcome resistance zones.   The BNB price is down 2% today, to trade at $1111.46. Despite the plunge, the daily trading volume has soared 26% showing increased market activity among traders. However, BNB Chain has seen declining network activity, with the open interest plummeting, signaling a drop in demand.  On Chain Demand on BNB Cools Off The BNB Chain is in a state of cooldown of network activity, which indicates low on-chain demand. In most instances, when a network fails to ensure large volumes or revenues, it means that there is low demand or outflows to other networks.  BNB DeFi Data: DeFiLlama According to DeFiLlama data, the volume of the Decentralized Exchanges (DEXs) is down to at least $2.12 billion in comparison to the high of $6.313 billion on October 8, which also means low on-chain liquidity.  On the other hand, Coinglass data shows that the volume of BNB has grown by 3.97% to reach $4.95 billion. However, the open interest in BNB futures has dropped by 3.36% to reach $1.74 billion. This reduction in open interest is an indication of a conservative stance by investors since the number of new positions being opened is low. This could be an indication that investors are not so sure about the short-term price outlook. BNB Derivatives Data: CoinGlass Meanwhile, the long-to-short ratio is sitting at 0.9091. This shows that the traders are undecided on BNB price’s next move, as it sits below 1.  BNB Price Moves Into Consolidation The chart displays the BNB/USD price action on a 4-hour timeframe, with the token currently hovering around $1111.46. The 50-day Simple Moving Average (SMA) is at $1113, while the 200-day SMA sits at $1129, cushioning the bulls against upside movement. The price has mostly been trending below both SMAs, indicating that the bears are having the upper hand.  The BNB trading volume is up, soaring 26%, signaling the momentum is real. On the 4-hour chart, BNB is trading within a consolidation channel. In such a case, this pattern may act as an accumulation period, giving the bulls hind wings to break above resistance zones.  BNB/USD 4-hour chart: TradingView Zooming in, the Relative Strength Index (RSI) sits at 44.15, below the 50 level. This shows weakening momentum in the BNB market, and might lead to the RSI plunging to the oversold region if the bulls don’t regain control. In the short term, the BNB price could move up to $1113 resistance and flip it into support. A close above this zone will see the bulls target $1126 resistance, giving the bulls strength to reclaim the $1230 mark.  Conversely, if the resistance zones prove too strong, a dip towards $1012 could be plausible. In such a case, this could be a prime buy zone for the risk-takers. In the long term, if the token keeps the hype alive, the bulls may reclaim the $1375 high or higher.    eToro Platform    Best Crypto Exchange   Over 90 top cryptos to trade Regulated by top-tier entities User-friendly trading app 30+ million users    9.9   Visit eToro eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment, and you should not expect to be protected if something goes wrong.