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Shiba Inu Price 2.5X Breakout Could Unlock $3.45B in Profits

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Shiba Inu price is on the verge of breaking above a key bullish reversal pattern after the market momentum increased due to Bitcoin rallying to a new all-time high. If this breakout happens, SHIB investors currently at and outside the money could be looking at $3.45 billion in profits. Will the price of SHIB rise by 150% and rescue this liquidity that is currently dead in the water?

SHIB price is currently trading at $0.00001921, dangerously close to the stubborn multi-month resistance. This price represents a 2% increase in the last 24 hours and a 9.5% rise in the last 7 days. Bitcoin is up 1.6% and trading around $76,125, pulling up the crypto market by 0.2% to $2.685 trillion. Can Shiba Inu capitalize on Bitcoin’s momentum to break the overhead resistance?

$3.45B To Be Rescued After This Shiba Inu Price Breakout

Data from IntoTheBlock (ITB) shows that currently, 44% of Shiba Inu investors are either at the money (2%) or out of the money (42%). This number, however, is about to drastically drop since SHIB technical analysis shows an breakout is imminent. The price breakout is anticipated to sent SHIB price above $0.000045, which constitutes a 149% increase.

Currently, ITB data shows there is 182.65 trillion ($3.45 billion) SHIB wallowing underwater between $0.000019 and $0.000051.

SHIB GIOMSHIB GIOM

A 149% breakout could boost this dead liquidity into profit, shifting the overall SHIB tokens in profit from 78.42% to over 96%. 

Onchain Metrics Show SHIB Price Will Breakout

Shiba Inu price shows promise of breaking out, at least from analyzing on-chain metrics and traders behavior. Data from Coinglass Liquidation Map (LM) suggests that traders are currently more bullish on SHIB than they are bearish. The 24-hour cumulative Long Liquidation Leverage for SHIB was at $3.42 million on OKX, compared $2 million in Shorts.

1000SHIB Liquidation Map1000SHIB Liquidation Map

This imbalance is also reflected in the weekly and monthly timeframes, and suggests bullish sentiment is dominating the SHIB derivative markets because traders anticipate price will move higher in the future.

Additionally, according to Santiment analytics data, the SHIB price-Daily Active Addresses (DAA) divergence shot up to a one-month high. When DAA increases and price is lagging as in the current case, it usually points a bullish signal that the price could catch up soon, leading to a potential price increase.

1000SHIB Price-DAA Divergence1000SHIB Price-DAA Divergence

Further, Shiba Inu 30-day realized cap has been on the rise since November 3 while the 365-day is still soaring higher. This means that short-term holders (potentially new investors) are entering the market and could provide the necessary volume needed to push Shiba Inu price beyond the overhead resistance. 

Shiba Inu Realized CapShiba Inu Realized Cap

Moreover, having long term holders also increase means early SHIB investors are still confident in the project’s ability to deliver handsome returns in the long run.

All these metrics point to high likelihood of the price of SHIB breaking above the stubborn resistance in the coming days.

SHIB Price Analysis: Key Levels To Watch

Shiba Inu price forecast reveals a inverted head and shoulders pattern, which is usually a bullish reversal market structure. The immediate stubborn resistance at $0.00002050 has held price down since late June until now. 

If the new wave of incoming investors provide enough volume, SHIB price may break above this barrier and head toward $0.00004567, which coincides with the yearly high. On the way iup, SHIB may encounter a resistance around $0.00002500

2.5X Imminent Shiba Inu Price Breakout Could Profit $3.45B2.5X Imminent Shiba Inu Price Breakout Could Profit $3.45B
Shiba Inu Price Analysis Chart

Bears could invalidate this bullish thesis if they push the price below the small ascending triangle forming at the right shoulder. This would send SHIB to $0.000016 and $0.000013 support levels.

Frequently Asked Questions (FAQs)

The bullish outlook is supported by Bitcoin’s recent rally, strong market momentum, and promising on-chain metrics.

If SHIB price reaches the anticipated level of $0.000045, around $3.45 billion in currently underwater SHIB tokens could return to profit, significantly benefiting investors.

If bears push the price below the ascending triangle pattern, SHIB could drop to support levels around $0.000016 or even $0.000013, invalidating the bullish scenario.

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Evans Karanja

Evans Karanja is a crypto analyst and journalist with a deep focus on blockchain technology, cryptocurrency, and the video gaming industry. His extensive experience includes collaborating with various startups to deliver insightful and high-quality analyses that resonate with their target audiences. As an avid crypto trader and investor, Evans is passionate about the transformative potential of blockchain across diverse sectors. Outside of his professional pursuits, he enjoys playing video games and exploring scenic waterfalls.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Cardano

Why Cardano Price Jumped 17% After Breaking Resistance

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Cardano (ADA) price has emerged as a top performer in the latest crypto market surge, recording over 17% growth within 24 hours. This significant price increase aligns with gains seen across various cryptocurrencies, reflecting renewed interest and positive momentum in the crypto space.  With ADA breaking key resistance levels, the altcoin shows potential for continued upward movement, signaling a favorable outlook in the evolving digital currency landscape.

Cardano Price Surges 17% After Breaking Key Resistance Level

The latest ADA price has surged 17% in the last 24 hours, reaching $0.4236 and hitting a four-month high. This jump followed a broader market rally, with Cardano rebounding over 23% in the past week after breaking through a multi-month downtrend. The crypto market gained momentum after Donald Trump’s victory in the 2024 U.S. presidential election, fueling optimism across digital assets. 

Bitcoin, leading the charge, set a new all-time high of $76,943 on November 7, while Ethereum also rose above $2,900. Cardano’s strong performance highlights renewed investor interest, pushing it past key resistance levels and outperforming other top crypto markets in recent gains.

Address Activity and Whale Transactions Fueling the Surge

Data reveals that Cardano has hit notable milestones during this surge. A record-breaking 37,892 unique ADA addresses engaged in transfers in a single day, marking the highest address activity since early September. 

Furthermore, substantial transactions of $100,000 or more reached 697 on the same day, indicating intensified activity from large investors, or “whales,” the highest count since early September.

The latest rally has pushed Cardano above the $0.43 mark for the first time since July, a promising sign for ADA enthusiasts. This sustained increase in address activity and whale transactions suggests heightened market confidence, with potential FOMO building among retail investors. As Cardano rides this bullish wave, the community watches closely to see if the momentum will continue.

Analyst Eyes 100% Upside for ADA Price

Crypto analyst recently hinted at a promising potential for an ADA price surge. According to his analysis, ADA could witness a 100% upward movement, suggesting a major breakout is on the horizon. The analyst highlights a prolonged period of price consolidation, with ADA forming a consistent descending trendline.

Breaking this trendline could pave the way for significant gains, possibly doubling ADA’s current value. Technical indicators hint at a shift in momentum, adding weight to the analyst’s forecast. The volume profile also shows increased buying interest, indicating rising investor confidence.

Cardano’s recent breakout, record address activity, and rising interest from major investors create a strong case for its growth. The top coin could maintain its momentum with favorable market conditions and potentially approach $1 soon.

Frequently Asked Questions (FAQs)

Cardano surged after breaking resistance and amid a crypto market rally.

Increased whale activity, high address engagement, and breaking resistance fueled it.

It indicates rising user engagement, which boosts confidence and interest in ADA.

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Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Cardano (ADA) Price

How Far Can Cardano Price Rise in November?

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Cardano (ADA) price has significantly increased in the last 24 hours, following a broader market surge. The altcoin’s positive trend comes amid increased investor interest as the cryptocurrency market rallies after the recent U.S. elections. Notably, Cardano’s surge aligns with other altcoins that have also rebounded, strongly eyeing more gain in November and further attracting attention from analysts. 

Will Cardano Price Hit New Peaks in November Amid Major Upgrades?

Cardano’s price has shown strong momentum recently, climbing over 10% in the past month, supported by a positive shift in the broader cryptocurrency market. This surge comes as Cardano launches Node 10.1, a significant upgrade that introduces new governance capabilities and prepares the network for the upcoming Chang 2 hard fork. 

Node 10.1.1 is the first mainnet node to support the Chang 2 inter-era hard fork, marking a crucial step for Cardano’s governance evolution. The release also brings enhanced delegation options, allowing stake pool operators (SPOs) to delegate to pre-defined voting choices.

These advancements have spurred optimism that Cardano’s price could push higher in the coming weeks, as the network solidifies its infrastructure and prepares for new functionalities.

Analyst Predicts 70% ADA Price Rally Surge

Crypto analyst ZAYK Charts has highlighted a potential bullish wave for Cardano, indicating a breakout from a falling wedge pattern on the 1-day chart. This technical formation is often seen as a reversal indicator that ADA could experience significant upward momentum.

According to ZAYK Charts’ projections, the breakout could lead to a 60-70% price increase. This optimistic outlook comes as ADA investors anticipate the next move, with bullish sentiment building around the cryptocurrency.

At the time of writing, the ADA price saw an impressive 5.% increase within the past day, trading at approximately $0.3751. Opening at a low of $0.3525, the ADA gradually gained traction, climbing to a high of $0.3771, marking a significant upward trend in the 24 hours. 

The top altcoin price is eyeing a critical resistance level at $0.38, with bullish momentum suggesting a potential breakthrough. If ADA manages to overcome this barrier, analysts expect the cryptocurrency could challenge a more significant resistance point at $0.75.

The Moving Average Convergence Divergence (MACD) indicator on the daily chart shows a positive crossover. The MACD line (blue) stands above the signal line (orange), indicating growing buying momentum. The histogram has also shifted to green, suggesting bullish momentum may be building up.

How Far Can Cardano Price Rise in November?How Far Can Cardano Price Rise in November?
Cardano Price Chart: TradingView

As Cardano continues to build momentum and adopt new upgrades, it could be on track for notable price growth in November. With promising technical indicators and bullish sentiment, ADA may push toward new highs in the weeks ahead.

 

Frequently Asked Questions (FAQs)

Cardano’s Node 10.1 upgrade, increased investor interest, and a positive market rally are key drivers.

Analysts predict a potential 60-70% rally if ADA breaks through key resistance levels.

It introduces new governance and delegation features, preparing the network for the Chang 2 hard fork.

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Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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ETH

No ATH for Ethereum Price? ETH Whale Selling Persists Amid Election Boost

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During Wednesday’s trading session, the cryptocurrency market witnessed a surge in buying pressure as Donald Trump secured his victory as the 47th U.S. President. The pioneer cryptocurrency, Bitcoin, surged 8.8% to a new high of $75,400, boosting recovery in the altcoin market. However, the Ethereum price could struggle to hit new ATH as crypto whale continues to offload ETH.

By press time, the ETH price trades at $2,647 with an intraday gain of 9.89%. According to Coingecko, Ether’s marketcap holds at $319.2 Billion, and 24-hour trading volume is at $38.169 Billion.

Ethereum Price ATH Delayed? Whale Sales Overshadow Election Momentum

On November 6th, the cryptocurrency market experienced a significant rally as Donald Trump secured the necessary 270 electoral votes to become the 47th President of the United States. Amid this rally, a crypto whale who received 150,000 ETH through the ICO recently transferred a substantial 25,000 ETH (worth approximately $65.63 Million) to Kraken at an average price of $2,625.

According to Lookonchain, this whale has sold a total of 90,000 ETH of the 150,000 coins at an average value of $2,527 (worth around $227.45M). 

Breakdown of the Whale’s ETH Sales: 

  • July 2019: Sold 5,000 ETH at $218 ($1.09M).
  • June 2024: Sold 10,000 ETH at $3,539 ($35.39M).
  • September–October 2024: Sold 50,000 ETH at $2,516 ($125.34M).
  • November 2024: Sold 25,000 ETH at $2,625 ($65.63M).

Historically, whale selling has coincided with major market tops and spurred a bearish sentiment in the market. Amid the supply pressure, the Ethereum price could witness a stalled recovery momentum and struggle to hit a new All-time-high.

ETH Chart Analysis Shows Porlong Consolidation Within Triangle

Over the past three months, the Ethereum price prediction has traded sideways, resonating within a symmetrical triangle pattern. The price action strictly resonated within two converging trendlines, indicating a lack of dominance from buyers or sellers.

With a massive green candle today, the ETH price is at $2,661, still consolidating within the triangle and 3% away from a major breakout. If the sellers continue to defend this resistance, the Ether price will revert again and prolong its sideways trend.

Ethereum PriceEthereum Price
ETH/USD- 1d Chart

Therefore, a potential breakout from overhead resistance is necessary for buyers to regain control over the asset. If the ETH price surpasses the dynamic with the daily candle closing, the bullish momentum will accelerate to drive a surge above $3,500.

Frequently Asked Questions (FAQs)

Ethereum’s price recovery has been limited due to persistent selling by crypto whales

Following Trump’s election as the 47th U.S. President, the crypto market saw a rally, with Bitcoin hitting $75,400 and Ethereum gaining 9.89%, trading at $2,647

The symmetrical triangle pattern indicates consolidation, with ETH price oscillating between two converging trendlines. An upside breakout from this pattern is essential for buyers to regain control and push ETH towards the $3,500 mark or higher.

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Sahil Mahadik

Sahil is a dedicated full-time trader with over three years of experience in the financial markets. Armed with a strong grasp of technical analysis, he keeps a vigilant eye on the daily price movements of top assets and indices. Drawn by his fascination with financial instruments, Sahil enthusiastically embraced the emerging realm of cryptocurrency, where he continues to explore opportunities driven by his passion for trading

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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