Price analysis
Shiba Inu Price Records Largest Weekly Gain Since Feb, ATH Next?
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4 days agoon
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adminShiba Inu price has soared over 64% in the last 6 days, recording the largest weekly gain since February 2024. This increase comes amid Bitcoin breaking previous all-time highs and the entire crypto market surging to $2.915 trillion. This is just slightly shy of the 2021 top of $3.006 trillion. A crypto analyst shared that he expects one more resistance before SHIB rallies back to a previous all-time high. Can the price of SHIB regain its ATH before the end of the year?
SHIB price trades at $0.00002625 on November 11 after increasing by 16.1% in the last 24 hours. Following the footsteps of the largest gainer, Dogecoin (DOGE), SHIB has surged 54.9% in the past week and could be eyeing extended gains this week after clearing one key obstacle.
Shiba Inu Price Hit a Block: Is the Rally Over?
The SHIB price currently struggles to break above a key resistance level of around $0.00002750. After surging with volume to this previous level of temporary resistance, traders are taking profit, which has resulted in a pause from the rally.
However, crypto analyst Motion Man believes this is nothing to be worried about as he predicts SHIB will rise by 70% in the coming days to test the $0.000046 level, and if it clears his resistance, he expects SHIB to explode to ATH.
The Shiba Inu price rally is not over because of a few factors:
- Coingecko data shows the 24-hour trading volume is up 255%, signaling a recent spike in market investor interest.
- The SHIB open interest (OI) is up 19.31%, according to data from Coinalyze. This combined with the increasing price suggests traders are entering longs on the meme coin, a bullish signal for the Shiba Inu price.
- Santiment data shows the price-daily active addresses (DAA) divergence is currently at an 8-month high. Combined with the rising price, it indicates strong positive market sentiment and increased network activity. This alignment suggests that the price increase is supported by genuine growth in user engagement, which can be a healthy sign for the SHIB’s long-term rally.
SHIB Price Analysis: All Eyes On $0.000046
After surging to a local high of $0.00002804, SHIB price now faces huge profit taking around that price level, reinforces a previous historical resistance. Due to the factors mentioned previously, the Shiba Inu price forecast shows the rally is likely to continue.
A break above the the current resistance would spark a 70% (1.7X) rally to $0.000046, which coincides with the previous yearly high. Beyond that, the 4.236% Fibonacci extension level presents a potential resistance around $0.00006088.
After that, bullish SHIB predictions suggest ATH will likely be next.
An invalidation thesis for the current SHIB bull market would be if bears push price back below $0.00001811. This would signal market weakness that could send the meme coin down to $0.000015 and potentially to $0.000012.
Frequently Asked Questions (FAQs)
The rally hit temporary resistance at $0.00002750, but analysts believe it will continue. If SHIB clears this barrier, it could rally by 70% to $0.000046 and potentially reach a new all-time high (ATH).
SHIB price targets include $0.000046 and $0.00006088, with analysts predicting a push toward its previous ATH if key resistance levels are broken.
Analysts believe it’s possible if SHIB breaks through critical resistance levels and maintains strong momentum, aided by increased trading activity and market sentiment.
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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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Crypto Rebound or New Bull Run? Analyzing 4 Altcoins Performance
Published
1 day agoon
November 13, 2024By
adminAs the global cryptocurrency market cap eyes $3 trillion, the recent increase in Bitcoin price to an all-time high of $89,000 has sparked excitement of a new bull run, preparing the stage for altcoin’s renewed optimism. Among the leading performers are Peanut the Squirrel (PNUT), Rexas Finance (RXS), Bonk (BONK), and XRP—all witnessing substantial price fluctuations. Here’s a breakdown of these four altcoins, examining the factors behind their increase and what investors could anticipate in the upcoming weeks.
Top Performing Altcoins for the Bull Run
1. XRP: Positive News Driving Investor Confidence
XRP is experiencing a surge of positivity, driven by recent events concerning Ripple’s interactions with regulators and its ongoing legal battle with the SEC. Reports of Ripple’s discussions with the advisors of President-elect Trump have ignited speculation regarding more favorable regulations, potentially opening the door for greater institutional interest in XRP and various other digital currencies.
Additionally, speculation about the potential resignation of SEC Chair Gary Gensler has boosted XRP price, as this might signal the conclusion of the lengthy legal struggle with the SEC that has constrained prices.
With XRP currently at $0.65, its 21.66% gain over the past week is promising. XRP’s future largely hinges on regulatory clarity, which could significantly impact its market potential. If the optimism around its legal situation continues and favorable regulatory changes occur, XRP could experience a substantial rally, making it one of the more stable altcoins in this bull run.
2. Rexas Finance (RXS): The New Frontier in Real-World Asset Tokenization
Rexas Finance (RXS) is a unique player in the altcoin market, making waves with its approach to real-world asset (RWA) tokenization. Currently in its 5th presale stage at a price of $0.07, Rexas Finance aims to democratize access to high-value investments. It achieves this by enabling fractional ownership of traditionally illiquid assets such as real estate and collectibles.
With growing interest from traditional investors seeking diversification, RXS is attracting attention for its innovative DeFi approach to asset tokenization.
Analysts are optimistic about RXS, forecasting a potential climb to $17 by 2025, as the the early-stage cryptocurrency prepares for listings on major exchanges. This would represent significant gains for early investors. The recent crypto bull run has helped boost RXS’s profile, with increasing investor enthusiasm driven by its unique utility and the broader demand for DeFi solutions.
As tokenized markets continue to gain traction, the RWA tokens could see notable long-term growth, though it remains in a highly competitive and evolving sector.
3. Peanut the Squirrel (PNUT): Reaches New All-Time High Amid Bull Run
PNUT, one of Solana meme coins, recently gained attention due to its remarkable increases, achieving an all-time peak of $0.9745. Achieving a 1647% increase in the past 30 days and 1632% over the last 90 days, PNUT’s performance stands out as one of the most extraordinary narratives in the cryptocurrency market this year.
A significant portion of this increase is linked to community-led viral campaigns like #JusticeForPeanut, in addition to the overall market uptrend.
Should the bullish trend persist, PNUT may experience an ongoing surge. Nonetheless, meme coins have a history of volatility, and a pullback could occur, particularly if the existing excitement wanes.
Bonk (BONK): Meme Coin Revival in the Midst of a Bull Market
BONK, one of popular meme coins to buy, is making a resurgence with a rise to $0.000034, reaching its peak in more than five months. Initially considered by some as just another temporary meme coin, BONK’s recent performance has astonished the market, achieving a 46.5% increase in just the past week.
Technical signals, like the “golden cross” created by its 50-day and 200-WMA, indicate a positive trend that might persist, as long as it maintains its support levels.
The coin has flipped previous resistance levels into support, signaling potential for further gains if the broader market trend remains bullish. However, with its current price, BONK faces a long climb to reach a speculative target of $0.1.
Conclusion: A Market Poised for a Bull Run or a Temporary Rally?
The performances of PNUT, RXS, BONK, and XRP highlight the current volatility and potential in the altcoin market. Each of these assets has unique drivers—whether community-driven hype, innovative DeFi applications, or regulatory developments—adding to the diversity of investment options. The approaching $3 trillion market cap milestone for the global crypto market suggests growing investor interest, which could lead to sustained growth for select altcoins. As the market approaches this milestone, these altcoins could continue to ride the bullish wave, but the inherent risks of the crypto market remain, if Bitcoin’s momentum wanes.
Frequently Asked Questions (FAQs)
Bitcoin’s rise to $89,000 enhances market sentiment, benefiting altcoins like PNUT, RXS, BONK, and XRP, each showcasing unique growth factors and potential.
Rexas Finance innovates fractional ownership in real estate and collectibles, democratizing access to traditionally illiquid assets through tokenization.
XRP’s rally is boosted by Ripple’s talks with Trump advisors, possibly leading to favorable regulations. Speculation on SEC Chair Gensler’s resignation also sparks optimism for Ripple’s legal outcomes.
Jane Lubale
With over four years of experience in the cryptocurrency, Fintech, blockchain, and Web3 industries, I bring a wealth of knowledge and expertise to every piece I write. Backed by a Masters in Business Administration, my writing combines insightful analysis with a deep understanding of market trends, technological advancements, and regulatory landscapes. Whether crafting engaging articles, informative guides, or thought-provoking analyses, I strive to deliver content that informs, educates, and inspires readers in this rapidly evolving space.
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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doge
Rare Indicator Hints $1 Dogecoin Price Is Inevitable In November?
Published
2 days agoon
November 13, 2024By
adminDogecoin price has retraced by 12.2% in the last 24 hours after surging to a new yearly high of $0.4346. As traders book profit from Bitcoin and large caps, a rare indicator on the Dogecoin chart suggests the meme coin could hit $1 in November. This would constitute a 170% increase from the current price of $0.3679. Will DOGE pull this off and soar to a one-digit price tag this month?
Rare Technical Indicator Signals Major Dogecoin Breakout
A lesser-used onchain indicator called the Market Cap to its Realized Cap (MVRV) indicates that DOGE price still has room to rise. The MVRV Z-Score uses a z-score standard deviation between market value and realized value (MVRV) to identify DOGE market tops and bottoms.
According to this metric, the Dogecoin price hit bottom exactly 2 years ago today and has risen. Historically, values over ‘5.38’ indicate the price is overbought, and values below -0.25 indicate the price was oversold.
Currently, the DOGE MVRV Z-score is at 2.7 and is headed up. This suggests that while dogecoin is fast approaching the overvalued zone, there is still room to move, which could catapult the price to $1 and beyond.
DOGE Price Surge: Is a $1 Target Achievable This Month?
Dogecoin price is currently 170% away from hitting the $1 mark, and on-chain metrics suggest that this target is achievable this month.
Although the Relative Strength Index (RSI) is overbought at 83.85, the average directional index (ADX), which shows how volatile a market is, is currently at 26 and moving higher. Usually, a value above 25 suggests high market volatility, which can signal a continued price increase.
Crypto analyst Ali Charts also noted that while historically, Dogecoin price topped out after MVRV crossed 78%, today’s price correction reset the MVRV to 45.65%, suggesting that DOGE still has room to climb.
Key Resistance Levels Dogecoin Needs to Break for $1
Dogecoin’s price currently sports a gigantic cup and handle in the 1-week chart timeframe. Cup and handles are generally bullish reversal patterns, and this one hints at the DOGE price soaring as high as $1.5 before hitting a major resistance.
However, on the way up, Dogecoin may encounter resistance levels of around $0.5 and $0.76, which coincides with its previous all-time high.
On the flip side, $0.35 is a local support level that the DOGE price may fall to if bears persist. Below that, the $0.2 resistance-turned-support is strong enough to hold the price up against high sell pressure.
If the price falls below $0.2, the current bullish thesis would be invalidated, and the Dogecoin price forecast indicates the meme coin would enter a bear market.
DOGE price is currently retracing, taking a breather before the next leg up. After the Trump-Vance published a circular naming Elon Musk and Vivek Ramaswamy as the heads of the Department of Government Efficiency (DOGE), investors are watching the DOGE price closely as it could erupt to $1.
Frequently Asked Questions (FAQs)
Yes, it’s possible. On-chain metrics and technical indicators suggest room for growth. If the bullish momentum continues, DOGE could surge 170% to reach $1 in November.
The MVRV Z-Score is an on-chain metric that measures the difference between Dogecoin’s market cap and its realized cap. It helps identify tops and bottoms in the market. A rising MVRV Z-Score indicates the potential for further price gains.
Dogecoin price has pulled back by 12.2% after a strong rally to a yearly high of $0.4346 as traders are taking profits. However, a rare indicator suggests there is still potential for further gains.
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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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All-Time High
Cryptocurrencies That Soared to All-Time High, Rewarding Investors with Massive Returns
Published
2 days agoon
November 12, 2024By
adminThe cryptocurrency market has displayed remarkable strength, with the overall global market capitalization soaring to $2.93 trillion, approaching the significant $3 trillion threshold. This achievement, as stated by the International Monetary Fund (IMF), positions the value of the crypto market higher than the GDP of whole countries, such as Spain. Fueled by this increase, Bitcoin (BTC), RabBitcoin (RBTC), and Sui (SUI) have recently reached all-time high, delivering remarkable gains to investors. Here’s an overview of these leading performers — along with an additional token creating notable excitement.
Cryptocurrencies Hitting All-Time High
1. Bitcoin (BTC): All-Time High Nearing the $90,000 Mark
Bitcoin, one of the top cryptos to buy, continues to maintain its dominance, recently reaching an all-time high of $89,956.88 on November 12, 2024. This recent rise follows its largest daily surge ever, soaring over $8,400 in only one day.
This increase came after Donald Trump’s recent victory in the U.S. presidential election, which numerous experts associate with favorable cryptocurrency regulations and expected shifts in economic policy.
These factors have renewed investor confidence in Bitcoin price, leading multiple market analysts to predict a climb toward the $100,000 mark by year-end and possibly hitting $1 million over time. Boasting a market capitalization over $1.73 trillion, Bitcoin remains the cornerstone of the cryptocurrency landscape, offering significant returns to investors.
2. RabBitcoin (RBTC): A 379% Weekly Surge to All-Time High
RabBitcoin (RBTC), the native token of the Rocky Rabbit gaming platform, has captivated the market with remarkable growth. RBTC’s unique appeal lies in its integration with Rocky Rabbit’s blockchain-based gaming experience, offering players a play-to-earn model.
This innovation, combined with Bitcoin’s rally, has driven RBTC’s weekly growth by an impressive 379%, with its all-time high recently peaking at $0.00003269. According to CoinMarketCap, RabBitcoin’s market cap of $150.7 million and 24-hour trading volume of $23.11 million illustrate its growing popularity and potential for continued growth.
With gameplay tied to cryptocurrency rewards, RBTC provides both gamers and investors with promising opportunities.
3. Sui (SUI): Pioneering a User-Centric Blockchain Experience
Sui (SUI) has quickly established itself as a transformative force within the crypto landscape. As a layer-1 blockchain, Sui’s technical framework prioritizes scalability, security, and user accessibility, qualities that have driven its all-time high to $3.30.
Even though the value of the token has slightly retraced, the past seven days has seen SUI gain 54.31%, marking a steady climb and increasing investor interest. Through innovations like zkLogin and programmable transaction blocks, Sui offers users a streamlined experience that’s rare in the Web3 space.
With a market cap of $8.57 billion and strong community support, Sui stands out as a foundational blockchain project, rewarding early investors with substantial returns.
4. Minotaurus ($MTAUR): The Up-and-Comer
Amidst these major coins, Minotaurus ($MTAUR) is capturing attention as a promising newcomer, especially within the blockchain gaming space. MTAUR recently reached the 100K USDT milestone in its presale, attracting both participants and gamers alike.
Priced at 0.0000598 USDT — a 70% reduction from its listing price of 0.00020 USDT — Minotaurus offers substantial growth potential. Early supporters have already experienced an increase of around 50%, and with the token listing approaching, further progress is likely.
Minotaurus’s appeal goes beyond speculation. In the game, MTAUR tokens unlock special features, power-ups, and exclusive zones, creating intrinsic value. Additionally, Minotaurus leverages a cliff and vesting structure, ensuring long-term stability and fostering community engagement.
With its focus on casual gaming, a market worth $15 billion, Minotaurus is well-positioned to benefit from broader trends in both crypto and gaming. Plus, the project’s security has been validated through audits by SolidProof and Coinsult, offering participants additional peace of mind.
Conclusion
As Bitcoin, RabBitcoin, and Sui reach all-time highs, the crypto market’s momentum seems unstoppable. These coins not only represent different aspects of the cryptocurrency ecosystem but also reward investors willing to navigate the market’s risks.
Meanwhile, Minotaurus (MTAUR) offers a unique opportunity with its strong fundamentals and growth potential, making it a project to watch in the blockchain gaming arena. For those ready to act, this diverse set of assets offers both stability and potential for massive returns in a rapidly expanding market.
Frequently Asked Questions (FAQs)
These cryptocurrencies hit all-time highs due to market optimism, tech advancements, and economic shifts, rewarding investors with significant returns.
Minotaurus boasts strong fundamentals and gaming utility, offering referral and vesting bonuses. Priced at a 70% discount, it attracts early investor interest.
Cryptocurrencies exhibit market risks due to volatility. Bitcoin offers high liquidity and adoption, while RBTC and SUI leverage unique gaming and blockchain features. MTAUR’s gaming utility and presale incentives promise upside but entail risks of new projects.
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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