Shiba Inu Reaches Yearly High Amid Liquidations and Rebel Satoshi Attracts Investors

Shiba Inu Reaches Yearly High Amid Multi-Million-Dollar Liquidation Among Meme Coins

The second-most traded meme token, SHIB, has reached a yearly high of $0.000027885. This represents a 234% (or 3.34x) gain since the start of 2024 when Shiba Inu exchanged hands for $0.000008354.

A key contributor factor is the liquidations experienced across several meme coins like DOGE, PEPE, FLOKI, BONK, and, of course, SHIB. Data from Coinglass reveals that traders had short liquidations worth over $50 million at one point within a day. A short liquidation means that bearish traders on many crypto exchanges had to close their trades, resulting in a price increase.

Moreover, Coinglass indicated that the open interest for the projects mentioned reached $1.5 billion in the last few days, suggesting new capital inflow within this market.

Another catalyst for the increase in Shiba INU is the daily 'burning' of SHIB tokens. Although the rate has stabilized of late (currently at 22%, according to Shibburn), it has reached four figures in recent weeks.

The third month of 2024 has only begun, with Shiba Inu (SHIB) forecasts hinting at further upside. Many suggest that SHIB can be worth at least $0.00005 before the end of the year.

Rebel Satoshi Launch Begins To Attract Investors

Rebel Satoshi has officially launched after a presale that garnered over $2.5 million. This new rebel-themed meme coin blends fun and community-building while also having a mission of revolting against the modern financial system.

The project signifies a rally to infuse more DeFi, as envisioned by Satoshi Nakamoto when they created Bitcoin. Another rebellious figure honored by the meme token is Guy Fawkes, who represents social justice. It hopes to transfer wealth from the elites to ordinary people, ensuring everyone has a fair shot.

The meme coin will celebrate these and other defiant figures in the soon-to-be-launched Rebel Artefacts Vault. This marketplace has the coolest NFTs in the form of almost 10,000 collectibles and digital art characters.

The Revolutionary Staking Hub is another notable addition, available sometime after the NFT marketplace. Here, members will earn staking rewards from 'locking up' the project's utility token, $RBLZ.

$RBLZ was the subject of the Rebel Satoshi presale that began on November 5, 2023 (Guy Fawkes Day). The huge demand fostered a 150% surge from $0.010 to $0.025. Along with going live, Rebel Satoshi developers have listed $RBLZ on the Coinstore and Uniswap exchanges.

In a symbolic nod to Fawkes, they also 'burnt' any unsold $RBLZ, making the token deflationary and ripe for considerable appreciation. For these reasons, experts anticipate a greater ascent for $RBLZ, meaning latecomers should consider acquiring the token!

Stay tuned for interactive games in the Rebel Satoshi Arcade, merchandise, and the release of the first NFT collection this month.