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Is Shiba Inu Coin Burn Rate Hinting At SHIB Price Crash?
Published
1 month agoon
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adminShiba Inu witnessed retracement after a recent bullish rally to the $0.000034 target. Shiba Inu coin burn rate and addresses have dropped in a week, hinting at a decline in sentiment for further upside. As a result, SHIB price has tumbled 2% today and 13% this week. Is a crash to the $0.000024 support level imminent?
Shiba Inu Coin Burn Rate Slumps
SHIB burn rate declined more than 100% this week, as per burn tracker Shibburn data as of December 14. In the last 24 hours, the burn rate has increased by nearly 425% after a Shiba Inu coin wallet sent 70,605,175 tokens to the burn address, according to Etherscan data.
The Shiba Inu coin community has burned 410.74 trillion tokens from the initial supply. The circulating supply has dropped to 584.01 trillion amid the recent burn rate jump. While the relation between Shiba Inu burn rate and value is complex, the recent rally was supported by a massive increase in SHIB burn. Developer Kaal also burned a significant amount of tokens.
Meanwhile, Shytoshi Kusama has hinted at TREAT token launch and SHIFU coin launch, adding to investor curiosity on the matter.
Shiba Inu On-Chain Data
Shiba Inu coin sentiment for further upside has waned amid a drop in the broader crypto market. This has led to SHIB price fall this week.
The Exchange Netflow Total metric from on-chain data platform CryptoQuant indicates that net deposits on exchanges are high compared to the 7-day average. The deposits on crypto exchanges rose in the last few days, indicating higher selling pressure.
In addition, the number of active addresses fell by 7% in the last 24 hours. The recent decline in SHIB price due to profit booking and whale activity likely triggered negative sentiment.
SHIB Price Looks Weak After Recent Selloff?
Shiba Inu price fell more than 2% in the past 24 hours, with the price currently trading at $0.00002755. The 24-hour low and high are $0.00002741 and $0.0000288, respectively. Furthermore, the trading volume has decreased by 13% in the last 24 hours, indicating a decline in interest among traders.
The technical chart shows weakness amid the change in trend and signals from indicators such as Ichimoku cloud, RSI, and exponential moving averages. SHIB will likely touch the 50-day EMA at $0.0000275.
Moreover, The Fibonacci retracement analysis indicates Shiba Inu price will hit the 0.382 Fib Retracement level. However, the direction depends on trading volume and sentiment in the market as Shiba Inu coin burn rate also dropping. Notably, $0.000024 is the strong support level for the dog-themed meme coin.
Varinder Singh
Varinder has over 10 years of experience in the Fintech sector, with over 5 years dedicated to blockchain, crypto, and Web3 developments. Being a technology enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers. With CoinGape Media, Varinder believes in the huge potential of these innovative future technologies. He is currently leading the news team to cover latest updates and developments in the crypto industry.
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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Semler Scientific Achieves 99.3% BTC Yield Boosting Holdings To Over 2,300 BTC
Published
6 hours agoon
January 13, 2025By
adminSemler Scientific, Inc., a medical technology company focused on combating chronic diseases, has expanded its Bitcoin holdings significantly. The company recently acquired 237 BTC, bringing its total reserves to 2,321 Bitcoin. This move reflects Semler’s ongoing strategy of increasing its cryptocurrency treasury to enhance shareholder value.
Semler Scientific Boosts Bitcoin Holdings to 2,321 BTC with 99.3% BTC Yield
In a recent statement, Semler Scientific confirmed acquiring 237 Bitcoin between December 16, 2024, and January 10, 2025. The acquisition was made at an average price of $98,267 per Bitcoin, including fees. These purchases added $23.3 million worth of Bitcoin to its reserves, which now total 2,321 BTC.
The company stated its total Bitcoin investment amounts to $191.9 million. Semler’s strategy focuses on using Bitcoin as a treasury asset to drive long-term growth and shareholder value.
Additionally, Semler Scientific funded its Bitcoin acquisitions through an at-the-market (ATM) offering and operational cash flow. As of January 10, 2025, the company had generated $121.8 million in gross proceeds under its ATM sales agreement with Cantor Fitzgerald.
The ATM program, which was expanded by $50 million in December 2024, enables the company to issue additional shares for strategic investments. This financing model underpins Semler Scientific’s continued ability to grow its Bitcoin holdings.
Interestingly, institutional Bitcoin adoption has risen with Michael Saylor’s MicroStrategy announcing another massive purchase of 2,530 BTC today, worth $243 million. This brings its total holdings to 450,000 BTC, acquired for $28.2 billion. Despite the move, MSTR stock declined after Bitcoin’s price dropped below key support levels.
Bitcoin Adoption and Key Performance Indicators
Since adopting its Bitcoin treasury strategy in July 2024, Semler Scientific has monitored its performance through a key performance indicator (KPI) known as BTC Yield. From July 2024 to January 2025, the company achieved a 99.3% BTC Yield, reflecting the effectiveness of its treasury management.
Bitcoin adoption remains integral to Semler Scientific’s financial strategy. The company has consistently emphasized its focus on increasing Bitcoin reserves.
Semler Scientific remains committed to its Bitcoin strategy, with plans to continue acquiring Bitcoin through proceeds from its ATM program and cash flow.
BTC Price Action
Meanwhile, Bitcoin’s 24-hour price action shows a 3.34% drop, falling from $94,820 to $91,700. Trading volume surged by 193.09%, reaching $58.6 billion, as the market cap stands at $1.81 trillion. BTC struggles to hold key support amid market volatility.
A recent report by CoinGape highlighted the reasons behind today’s drop in Bitcoin price. The decline is attributed to a strong jobs market diminishing hopes for rate cuts, technical exhaustion following Bitcoin’s rally to $100K, and profit-taking ahead of President-elect Donald Trump’s inauguration. Key support remains at $90,804.
Ronny Mugendi
Ronny Mugendi is a seasoned crypto journalist with four years of professional experience, having contributed significantly to various media outlets on cryptocurrency trends and technologies. With over 4000 published articles across various media outlets, he aims to inform, educate and introduce more people to the Blockchain and DeFi world. Outside of his journalism career, Ronny enjoys the thrill of bike riding, exploring new trails and landscapes.
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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Azuki Creator Token Launch: Will ANIME Price Skyrocket?
Published
12 hours agoon
January 13, 2025By
adminThe creator behind the popular NFT collection, Azuki, has announced its plans to enter the crypto market with an ANIME token. After a year awaits, the renowned Web3 studio, Chiru Labs, is set to introduce a crypto project this year to enhance the collection’s entertainment division and build an anime community interaction. Let’s discuss the key details of the token, launch date, tokenomics, ANIME price, and much more.
Azuki Creator’s Token Launch: ANIME Listing Date, Airdrop & More
The team announced the key details of the Anime coin launch on January 13, 2025. The Azuki creator’s token may go live this month, but the exact date has not been revealed yet. It will be introduced to two popular blockchain networks: Ethereum and Arbitrum. The coin will have a total supply of 10 billion tokens, with the initial circulating supply being 7.69 billion.
The ANIME’s tokenomics states that 37.5% of the tokens are set aside for the Azuki NFT community. 24.44% of the supply is reserved for the Animecoin foundation, which will use it for project operations, grants, and interacting with the Anime community to bridge it with the crypto project. The employees, contractors, and advisors are also eligible for the 15.62% rewards, as the web3 studio wishes to reward early contributors.
There’s 13% reserved for community initiatives (AnimeDAO), the Azuki company has allocated 7.44% with three-year unlock periods, and the last Arbitrum Communities and Kaito Yappers have allocated 2% to foster collaboration with anime communities and the Kaito AI.
Hyperlquids and Animecoin are also collaborating, and the HYPE stakers will benefit from this with an ANIME airdrop. This is an attempt to increase user engagement. In a similar effort, the team introduced the Yaps points program. This Yap-to-earn program rewards users for promoting the project on social media platforms like Twitter. This may influence the token’s price after launch.
Azuki NFTs Popularity Sets Support, But Will ANIME Price Skyrocket?
Azuki is a renowned Non-Fungible token collection on the Ethereum network. It has 10,000 anime-themed NFTs, all of which are witnessing a significant boost with the Animecoin launch. A Coingecko post earlier mentioned that many popular NFT series from this collection are rising today after the NFT coin launch announcement. However, the question now is how the popularity of the Azuki NFT will influence the ANIME price.
Until now, no price has been revealed for the token at launch, so it is hard to conclude what that will be and how it will behave after launch. However, expectations are higher considering the success of another NFT project, Pudgy Penguin. The PENGU token has maintained quite a hype around itself, especially as many traders made heavy returns with its success. Another example is Magic Eden NFT tokens, which are currently struggling but hit the top moments after the launch.
Considering this, it is clear that the support of Azuki NFTs could push the ANIME price higher. However, in the long term, token use cases, tokenomics, and market image are needed to boost the price. Some analysts have presented possible Animecoin price calculations for the token, but investors should await more clarity and the launch to conclude ANIME’s price performance.
What You Need To Remember?
The crypto community eyes unique projects and their token launches. One such project is the Azuki NFT, which became popular after its launch in 2021. Although the popularity settled down over time, the upcoming Anime coin launch is to change that. The Azuki creator, Chiru Labs, has announced an NFT token launch that will likely occur this month. Even with days to launch, the crypto community seems optimistic about the ANIME token launch and its price performance. Considering the popularity of the Pudgy Penguin’s airdrop and token launch, the Azuiki’s token may perform well. However, things can go the other way depending on user sentiments and tokenomics, as Magic Eden did.
Pooja Khardia
With a deep-seated passion for reading and five years of experience in content writing, Pooja is now focused on crafting trending content about cryptocurrency market.
As a dedicated crypto journalist, Pooja is constantly seeking out trending topics and informative statistics to create compelling pieces for crypto enthusiasts. Staying abreast of the latest trends and advancements in the field is an integral part of her daily routine, fueling a commitment to delivering timely and insightful coverage
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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Bitcoin Stuck in Range, Altcoins Slide Amid Market Pressure
Published
18 hours agoon
January 13, 2025By
adminCrypto market today is stuck in the zone, with Bitcoin trading steadily between $92K and $96K. Altcoins, following Bitcoin’s range-bound movement, have seen notable price drops. Virtual Protocols (VIRTUAL) plunged by 11% in the last 24 hours, followed by AI16Z, which dropped 8%.
The overall cryptocurrency price action reflects growing market concerns, including FTX liquidations and rumors of a potential U.S. government sell-off of Silk Road-related Bitcoin holdings. These events have weighed heavily on investor sentiment.
The global crypto market declined by approximately 1%, bringing the total market cap to around $3.3 trillion. Trading volume also dropped compared to last week, now standing at $74 billion.
Here’s an overview of some leading cryptocurrencies and their prices on Jan 13.
Crypto Market Today: Bitcoin Holds Range, Altcoins Decline
Bitcoin price fell by 0.5% over the past 24 hours, trading within its usual range on Jan 13. Meanwhile, major altcoins like Ethereum (ETH), Ripple (XRP), and Solana (SOL) dropped between 1% and 5%.
The crypto market today remains cautious as investors watch for key developments ahead of pro-crypto President Donald Trump’s inauguration next week. His stance on digital assets could significantly influence the market’s direction in the coming weeks.
Bitcoin Market Today
Bitcoin (BTC) price was trading at $94,275, with its 24-hour low at $93,743 and high at $95,869. BTC’s market cap slipped below the $2 trillion mark, now standing at approximately $1.86 trillion.
In crypto market today, BTC recorded a movement of $900 million on the 16th anniversary of the historic “Bitcoin” tweet. Despite the buzz, Bitcoin’s price action remains range-bound, reflecting broader market caution.
Ethereum Market Today
Ethereum (ETH) price was trading at $3,257, down by approximately 1% in the last 24 hours. Its 24-hour low and high stood at $3,225 and $3,336, respectively.
According to Coinglass data, ETH price saw liquidations worth $7.7 million in the past 24 hours. Out of this, $1.1 million came from long positions, while a significant $6.6 million was from short positions, reflecting increased market volatility.
XRP Market Today
XRP price was trading at $2.52, with a drop of less than 1% over the last 24 hours. Its 24-hour low and high stood at $2.47 and $2.56, respectively.
Veteran trader Peter Brandt highlighted that XRP’s price chart is forming a bull flag pattern on the daily timeframe. If this pattern confirms, XRP could skyrocket a potential price target of $3.40. In the crypto market today, XRP remains one to watch for traders eyeing bullish momentum.
Solana Market Today
Solana (SOL) price was trading at $185, with its 24-hour low at $184 and high at $191. The crypto market today shows SOL maintaining its position despite broader market pressure.
Top Crypto Market Gainers Today
As per crypto prices today, here are the top 5 crypto gainers over the last 24 hours:
Hyperliquid (HYPE)
Price: $21.51
24-hour gain: +5%
KuCoin Token (KCS)
Price: $11.31
24-hour gain: +4.5%
Raydium (RAY)
Price: $4.59
24-hour gain: +2%
Monero (XMR)
Price: $199
24-hour gain: +1.8%
XDC Network (XDC)
Price: $0.1012
24-hour gain: +1%
Top Crypto Loser Market Today
As per crypto prices today, here are the top 5 crypto losers over the last 24 hours:
Virtual Protocols (VIRTUAL)
Price: $2.58
24-hour loss: -11%
AI16Z (AI16Z)
Price: $1.08
24-hour loss: -8%
SPX6900 (SPX)
Price: $0.997
24-hour loss: -7.5%
Ondo (ONDO)
Price: $1.16
24-hour loss: -7%
Bitget Token (BGB)
Price: $6.78
24-hour loss: -6.35%
Meme Crypto Market Today
Meme cryptocurrencies have also seen a dip in the last 24 hours. Dogecoin (DOGE) price was down by 1.87%, trading at $0.3329, with its 24-hour low and high at $0.3319 and $0.3453, respectively. According to Coingape report, Dogecoin open interest surged to $3.5 billion amid news surrounding Trump’s inauguration. Similarly, Shiba Inu (SHIB) price fell by 3.2% and is now trading at $0.00002101.
Other notable meme coins, including PEPE, BONK, PENGU, and WIF, also experienced a 3-5% decline in the last 24 hours.
On a positive note, Bitcoin (BTC) price saw a slight rise of 0.2% in the past hour, offering some optimism. Ethena (ENA) price led with a 2% gain in the last hour, while most other altcoins showed bearish momentum, remaining in the red at the time of writing. The crypto market today remains mixed with some pockets of recovery amidst ongoing losses.
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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