crypto
Shiba Inu Could Surge 340%, Echoing Its 2021 Peak —Analyst
Published
4 hours agoon
By
adminShiba Inu (SHIB), the parody coin that hit the headlines in 2021, has reignited investor interest. Based on the examination of crypto expert Javon Marks, the token has recently emerged from a declining wedge formation, which may suggest that a substantial price increase is in the offing.
Related Reading
Marks estimates that SHIB might increase by 342% and reach $0.000081, a level not seen since the bull run of 2021. If current trends continue, the canine-inspired digital asset may see a significant price turnaround.
Following that milestone break, the future of SHIB’s price looks promising. According to the estimations, if the token reaches $0.00001794 in mid-November 2024, there will be a 0.65% immediate price gain.
The current position at a neutral 50 of the Fear & Greed Index reveals a balanced state of mind on the market and correlates well with cautious optimism regarding the change in SHIB price. Of late, in the last 30 days, SHIB has been green for half the days, 15, and that too supports further future development.
$SHIB (Shiba Inu) –
Are you prepared for $0.000081!?
With SHIB broken out of a recent Falling Wedge pattern and a much larger (unpictured) resisting trend, an over 342% run from here to it could happen ASAP, and this falling wedge break may only help spark the process 🧨! https://t.co/wSz2eVepSp pic.twitter.com/eefYqFGg1N
— JAVON⚡️MARKS (@JavonTM1) October 11, 2024
The Power Of A Falling Wedge
For the last five months, SHIB has been in a falling wedge pattern, which is a chart pattern in technical analysis that normally trends with a strong bullish reversal. As such, this particular pattern, where the lows are lower and the highs are lower, has proven to be a trigger for breakouts.
In March 2024, the pattern was apparently clear, as SHIB declined from the yearly high at $0.000045. According to Marks, it may be the breakthrough that pushes the token all the way to $0.000081.
Key Indicators Point To Strength
Momentum may be emerging as SHIB trades around $0.00001785 with persistent higher lows. Additionally, the token’s 50-day and 100-day Exponential Moving Averages (EMAs) are lower than the current price, suggesting bullishness.
The fact that SHIB is still trading above its 200-day Simple Moving Average (SMA) indicates that it is in an uptrend over the long term, despite the fact that it is trading below its 50-day SMA, which is often a bearish signal. The confluence of these indicators indicates that SHIB is stable, although it is possible for it to move farther in any direction.
Related Reading
Support And Resistance Levels
Looking forward, Shiba Inu has important support around $0.000017; resistance at $0.000018 and $0.000019. Should the token be able to surpass these resistance thresholds, it may rapidly achieve the target anticipated at $0.000081.
Meanwhile, there still is room for development, but traders and investors should continue to watch closely the activity of the price because the next steps for SHIB can validate the breakout or trigger even more consolidation. Yet considering past trends and technical hints that look hopeful, it might be just a matter of time before SHIB explodes into significant value soon.
Featured image from Pexels, chart from TradingView
Source link
You may like
Donald Trump-Supported Crypto Project World Liberty Financial (WLFI) to Start Token Sale Next Week
DMT and THL up by double digits
5 Reasons Why Solana Price Could Hit $180 By October End
SHIB whales move 3 trillion tokens amid price crash to buy Ethereum’s biggest presale at $0.03846
3 AI Altcoins Set to 5X as Sector Leads Crypto Growth Surge
Cardano and the XRP price action lock in bulls vs bears battle as RCO Finance prepares for 3,000% surge
Bitcoin whales have stockpiled $90 billion in BTC since May, a period marked by range-bound market conditions. According to an open disclosure by Axel Adler Jr. of CryptoQuant, investors holding over 1,000 BTC have seen rapid growth in their balances.
Related Reading
Whale Appetite Grows
Over the past six months, they accumulated about 1.5 million BTC, representing a massive inflow of capital worth approximately $90 billion at an average price of $60,000. However, these tokens came from weaker hands that sold at a loss.
1.5M BTC has been accumulated by whales (with >1K BTC on balance) over the last 6 months.
There’s really nothing to discuss here. pic.twitter.com/7cAVWVEK15
— Axel 💎🙌 Adler Jr (@AxelAdlerJr) October 10, 2024
Data shows significant growth among whales, who held only 335,000 BTC in early May when Bitcoin traded between $60,000 and $65,000. While prices remained in that range, whales continued to accumulate, and now hold around 1.9 million BTC, indicating strong short-term confidence among high-net-worth investors.
Netflow Metrics Of Large Holders
Recent data shows that accumulation sprees haven’t cooled off, despite recent price corrections. For example, yesterday, BTC fell below $59K for the first time this month, leading to massive liquidations.
Don’t believe that whales accumulated 1.5M BTC and wonder where they got it from?
How about taking a look at the loss-making sales on exchanges?
In the last 24 hours, 24.1K BTC were sold at a loss. pic.twitter.com/tAgeCI6qhe
— Axel 💎🙌 Adler Jr (@AxelAdlerJr) October 11, 2024
Yet, large holders, who account for 0.1% of the circulating supply, netted +629 BTC yesterday. Two days ago, this figure was even higher, with an influx of 2,480 BTC.
Furthermore, CryptoQuant statistics indicate that Bitcoin’s exchange reserve has fallen from 2.576 million tokens at the start of October to 2.571 million tokens, reflecting ongoing accumulation.
Price Prediction And Market Implications
As of this writing, Bitcoin was pegged at $61,690 having lost 1.68% for the week. DMI had +DI standing at 18.3 with -DI placed at 23.3, which were a couple of points above but declining continuously.
Related Reading
It simply means that despite the relentless selling pressures, they are somewhat weak. As it currently stands at -40.74, Williams %R is on the neutral side. From this, Bitcoin might get stuck in this range until strong buying or selling pressure will come up.
Experienced analyst Peter Brandt holds that Bitcoins will reach an all-time high of $150,000 for this cycle but warns that inability to break out of the current range will cause the price to shatter and will go way down, 75% at worst.
Featured image from Pexels, chart from TradingView
Source link
crypto
Crypto Exchange OKX Goes Live in United Arab Emirates (UAE), Targeting TradFi Institutions, Retail Investors
Published
3 days agoon
October 10, 2024By
adminThe opening, nine months after OKX Middle East Fintech FZE was granted full regulatory approval by the Virtual Assets Regulatory Authority (VARA), will allow one of the four biggest cryptocurrency exchanges by volume to offer local residents access to a market without involving a broker who buys liquidity from outside the UAE, usually at a higher price, adding time and friction, said Rifad Mahasneh, the exchange’s general manager for the Middle East.
Source link
ADA
Cardano Surges In Strength—Now 10x More Powerful, Analyst Says
Published
5 days agoon
October 9, 2024By
adminThey say journalists never truly clock out. But for Christian, that’s not just a metaphor, it’s a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.
Christian’s journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).
Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling – right up his alley!
So, he landed a killer gig at NewsBTC, where he’s one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).
Think Christian’s all work and no play? Not a chance! When he’s not at his computer, you’ll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.
Speaking of chill, Christian’s got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.
Here’s the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day – and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.
Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors – and bosses – he deeply respects.
So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.
Source link
Donald Trump-Supported Crypto Project World Liberty Financial (WLFI) to Start Token Sale Next Week
DMT and THL up by double digits
5 Reasons Why Solana Price Could Hit $180 By October End
Shiba Inu Could Surge 340%, Echoing Its 2021 Peak —Analyst
SHIB whales move 3 trillion tokens amid price crash to buy Ethereum’s biggest presale at $0.03846
3 AI Altcoins Set to 5X as Sector Leads Crypto Growth Surge
Cardano and the XRP price action lock in bulls vs bears battle as RCO Finance prepares for 3,000% surge
Crypto Exchange OKX Moves To Support USDC Ecosystem by Adding Six New Trading Pairs
AAVE Price Eyes $200 as Whale Buying Sphere Hits Key Fibonacci Support
3 top cryptocurrencies to watch this week
US SEC to Appeal XRP Secondary Sales In Ripple Lawsuit, Says Ex-SEC
What Is ‘Off the Grid’? The Buzzy Battle Royale Shooter Built on Avalanche
XYZ meme coin turns sports hype into 99,900% gains
Cardano Founder Charles Hoskinson Calls Out Craig Wright Amid Recent Lawsuit
Protocol Village: Karate Combat, Web3 Contact Sport, Launches Own Layer-2 Chain 'UP' on Hedera
182267361726451435
Top Crypto News Headlines of The Week
Bitcoin 20% Surge In 3 Weeks Teases Record-Breaking Potential
New U.S. president must bring clarity to crypto regulation, analyst says
Ethereum Crash A Buying Opportunity? This Whale Thinks So
Bitcoin Open-Source Development Takes The Stage In Nashville
Why Did Trump Change His Mind on Bitcoin?
Ethereum, Solana touch key levels as Bitcoin spikes
Will XRP Price Defend $0.5 Support If SEC Decides to Appeal?
Shiba Inu Price Slips 4% as 3500% Burn Rate Surge Fails to Halt Correction
Citigroup Executive Steps Down To Explore Crypto
‘Hamster Kombat’ Airdrop Delayed as Pre-Market Trading for Telegram Game Expands
Mostbet Güvenilir Mi – Casino Bonus 2024
Bitcoin flashes indicator that often precedes higher prices: CryptoQuant
Crypto Market Movers: 5 Altcoins Making Waves This Bull Run
Trending
- 4 weeks ago
182267361726451435
- 24/7 Cryptocurrency News2 months ago
Top Crypto News Headlines of The Week
- Bitcoin3 months ago
Bitcoin 20% Surge In 3 Weeks Teases Record-Breaking Potential
- News1 month ago
New U.S. president must bring clarity to crypto regulation, analyst says
- Altcoins2 months ago
Ethereum Crash A Buying Opportunity? This Whale Thinks So
- Opinion3 months ago
Bitcoin Open-Source Development Takes The Stage In Nashville
- Donald Trump3 months ago
Why Did Trump Change His Mind on Bitcoin?
- Bitcoin3 months ago
Ethereum, Solana touch key levels as Bitcoin spikes