To celebrate the first log in of Shiba Inu (SHIB) to the cross-chain lending market, the official announcement has launched an airdrop event worth 500 USD in SHIB. This collaboration is based on the multi-chain deployment of the Chainlink ecosystem lending protocol Folks Finance, aimed at bringing SHIB to 12 blockchains including Polygon, Avalanche, Arbitrum, and Base. This article will provide an in-depth analysis of the price movement of SHIB, the Burn Mechanism, and the progress of the cross-chain ecosystem, offering comprehensive reference for crypto assets investors.
Airdrop Activity Details
The Shiba Inu ecosystem team launched an exclusive Airdrop event to commemorate the first launch of SHIB on the cross-chain lending market. A lucky community member will receive SHIB worth 500 dollars, which, based on the current coin price of 0.00001236 dollars, is equivalent to 40,453,074 SHIB.
The event started at 19:49 UTC on September 4 and will last for 48 hours, ending at 19:49 on September 5.
The integration of SHIB into the Folks Finance lending market marks its application scenario beyond the Meme coin category, officially entering the cross-chain DeFi ecosystem. According to the announcement, users can earn an annualized yield (APY) of 9.08% by depositing SHIB.
This incentive has begun to take effect: SHIB deposits have increased by 28%, reaching $32,000. This cross-chain integration not only provides more opportunities for community participation but also demonstrates Shiba Inu's potential for diversified development in the decentralized finance space.
To ensure the fairness of the airdrop, the Shiba Inu team uses the chatbot Grok from xAI for a random draw. The AI-driven transparent process further strengthens the community trust system.
As of the time of writing, the trading price of SHIB is $0.00001235, oscillating above a key support level. The chart shows that its price has formed a symmetrical triangle pattern, with the fluctuation range gradually narrowing, indicating an imminent directional breakout.
The resistance level is located near 0.00001400 USD, while the support level remains firm at 0.00001100 USD. If a successful upward breakout occurs, the technical target can be seen at 0.00003000 USD, representing a potential increase of 142%. Currently, SHIB has attempted multiple times to establish higher lows, indicating a gradual strengthening of buying power.
According to Shibburn data monitoring, the burn amount of SHIB has soared by 201,207% in the last 24 hours, with over 4.5 million tokens permanently removed. Although the actual burn amount remains relatively small compared to the total circulation, the sharply increasing burn rate significantly enhances the market's expectations of token scarcity.
A recent audit report from CEX disclosed that its platform holds nearly 30 trillion SHIB, which accounts for a significant proportion of the circulation. Currently, 40% of the total supply of SHIB has been transferred to burn addresses, and the deflationary effect continues to accumulate. Historical data indicates that a sharp increase in the burn rate is often positively correlated with rising prices, and this dynamic is expected to serve as a catalyst for a breakout market.
Conclusion
From the perspective of comprehensive technical patterns, ecological progress, and deflationary mechanisms, SHIB is currently in a critical accumulation stage prior to a breakout. Cross-chain lending expansion and airdrop activities have further enhanced community activity and token utility. If it successfully breaks through the triangle consolidation range, SHIB is expected to initiate a new round of strong upward momentum. For Crypto Assets investors, the current risk-reward ratio significantly leans towards the opportunity side.
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Shiba Inu (SHIB) price prediction: 5 million dollar Airdrop event launched! Technical indicators show a potential rise of 142%
To celebrate the first log in of Shiba Inu (SHIB) to the cross-chain lending market, the official announcement has launched an airdrop event worth 500 USD in SHIB. This collaboration is based on the multi-chain deployment of the Chainlink ecosystem lending protocol Folks Finance, aimed at bringing SHIB to 12 blockchains including Polygon, Avalanche, Arbitrum, and Base. This article will provide an in-depth analysis of the price movement of SHIB, the Burn Mechanism, and the progress of the cross-chain ecosystem, offering comprehensive reference for crypto assets investors.
Airdrop Activity Details
The Shiba Inu ecosystem team launched an exclusive Airdrop event to commemorate the first launch of SHIB on the cross-chain lending market. A lucky community member will receive SHIB worth 500 dollars, which, based on the current coin price of 0.00001236 dollars, is equivalent to 40,453,074 SHIB.
The event started at 19:49 UTC on September 4 and will last for 48 hours, ending at 19:49 on September 5.
Cross-chain Lending Promotes SHIB Ecosystem Expansion
The integration of SHIB into the Folks Finance lending market marks its application scenario beyond the Meme coin category, officially entering the cross-chain DeFi ecosystem. According to the announcement, users can earn an annualized yield (APY) of 9.08% by depositing SHIB.
This incentive has begun to take effect: SHIB deposits have increased by 28%, reaching $32,000. This cross-chain integration not only provides more opportunities for community participation but also demonstrates Shiba Inu's potential for diversified development in the decentralized finance space.
To ensure the fairness of the airdrop, the Shiba Inu team uses the chatbot Grok from xAI for a random draw. The AI-driven transparent process further strengthens the community trust system.
SHIB price movement: Triangle convergence brewing breakthrough
(Source: TradingView)
As of the time of writing, the trading price of SHIB is $0.00001235, oscillating above a key support level. The chart shows that its price has formed a symmetrical triangle pattern, with the fluctuation range gradually narrowing, indicating an imminent directional breakout.
The resistance level is located near 0.00001400 USD, while the support level remains firm at 0.00001100 USD. If a successful upward breakout occurs, the technical target can be seen at 0.00003000 USD, representing a potential increase of 142%. Currently, SHIB has attempted multiple times to establish higher lows, indicating a gradual strengthening of buying power.
Burn Rate Soars 201,207% Igniting Market Expectations
According to Shibburn data monitoring, the burn amount of SHIB has soared by 201,207% in the last 24 hours, with over 4.5 million tokens permanently removed. Although the actual burn amount remains relatively small compared to the total circulation, the sharply increasing burn rate significantly enhances the market's expectations of token scarcity.
A recent audit report from CEX disclosed that its platform holds nearly 30 trillion SHIB, which accounts for a significant proportion of the circulation. Currently, 40% of the total supply of SHIB has been transferred to burn addresses, and the deflationary effect continues to accumulate. Historical data indicates that a sharp increase in the burn rate is often positively correlated with rising prices, and this dynamic is expected to serve as a catalyst for a breakout market.
Conclusion
From the perspective of comprehensive technical patterns, ecological progress, and deflationary mechanisms, SHIB is currently in a critical accumulation stage prior to a breakout. Cross-chain lending expansion and airdrop activities have further enhanced community activity and token utility. If it successfully breaks through the triangle consolidation range, SHIB is expected to initiate a new round of strong upward momentum. For Crypto Assets investors, the current risk-reward ratio significantly leans towards the opportunity side.