As doubts grow over Shiba Inu’s $1 potential, IntelMarkets gains favor for AI utility, while Dogecoin surges, drawing investors.

While anticipation builds in the crypto space, experts are beginning to question whether Shiba Inu (SHIB) will ever reach the $1 price point. Investors are currently looking at other potential candidates like IntelMarkets (INTL) to do the same. 

Unlike the Shiba Inu coin, IntelMarkets has a better chance of hitting $1 because of its more impressive use and integration of artificial intelligence. On the other hand, the market has received a new wave of interest in Dogecoin (DOGE), and its price has jumped up again, which has attracted the attention of investors.

Shiba Inu can’t reach $1, says investing haven

A crypto analyst from Investing Haven has shared a bearish forecast for Shiba Inu enthusiasts by rejecting their goal of reaching $1 per coin. The analysis cited SHIB’s large circulatory supply of 589.26 trillion as a major obstacle.

The analyst also talked about other obstacles, like the need for massive supply burns and real-world utility. In the meantime, the Shiba Inu crypto price has reduced its losses on the weekly timeframe. 

The memecoin has been on an uptrend in the past two days, partly due to the ongoing US elections. According to CoinMarketCap’s data, SHIB’s price surged from $0.0000165 to $0.0000195. 

Meanwhile, the 14-day RSI of the Shiba Inu token has risen close to the 50 mark, signaling an uptrend. CryptoPopeye forecast the value of the meme coin could increase to $0.00002156 in the next few days.

IntelMarkets, a better crypto to hit $1

IntelMarkets (INTL) is gaining traction in the crypto market, rising to a new high of $0.045727. It has raised over $1.91 million and is quickly closing in on $2 million. Going forward, analysts forecast the value of IntelMarkets could soar to $1 in the future based on its unique utility and integration of artificial intelligence.

IntelMarkets wants to become an industry leader by introducing new features that will be relevant to traders in the DeFi market. One of these features is the self-learning AI trading bots, which monitor market changes within seconds. In contrast to conventional bots, IntelMarkets’ trading bot can learn and evolve with every trade. It can also follow set strategies and risk levels. 

In addition to the trading bots, IntelMarkets is also flexible in its manner of operation. It can function on the Solana and Ethereum networks, hence allowing the trader to opt for the network that is most favorable in terms of their needs. Meanwhile, IntelMarkets has a native token called INTL, which has many uses in the platform.

INTL token holders can stake their tokens, receiving passive income with high returns and creating an additional line of revenue. AI technology, network flexibility, and passive income opportunities make IntelMarkets an effective tool for modern traders who want to enjoy a comprehensive trading experience.

Dogecoin crosses $0.2 mark

Dogecoin has been on an uptrend in the past few days, enjoying positive sentiment from the US presidential election. Data from CoinMarketCap shows its value has increased 12.0% on the weekly timeframe to cross the $0.3 mark from a bottom of $0.145.

If the bullish run continues, the Dogecoin crypto might be able to post a new yearly high. First, the Dogecoin price must surpass the resistance at the $0.2288 level and hit another yearly high.

The cryptocurrency’s 14-day RSI is above the middle line, further backing up the bulls. Hasan forecast the value of the Dogecoin token might surge to $0.33985 in the coming weeks if the uptrend continues. However, if a price fall occurs, Dogecoin may slide down to the support level of $0.1423.

Final thoughts 

While the chance of Shiba Inu getting to $1 seems more of a dream now, more attention shifts to low-cap coins like IntelMarkets. IntelMarkets has unique features and potential for growth, which makes it a good cryptocurrency to buy for future profits.

For more information, visit the IntelMarkets presale website and join the community on Telegram and X.

Coinbase has just announced cbBTC, the very first Bitcoin-backed token on Solana. The newly minted SPL token is backed 1:1 by Bitcoin and held in Coinbase custody. It provides an easy way for users to access BTC directly on the Solana blockchain.

According to the announcement on X, cbBTC by Coinbase brings the power of Bitcoin onto Solana’s high-speed network, expanding the availability of BTC to decentralized applications and traders worldwide.

Bitcoin Now Accessible on Solana with Coinbase’s cbBTC

Coinbase has officially launched cbBTC on the Solana blockchain to increase access to Bitcoin within Solana’s fast-growing DeFi ecosystem. cbBTC, issued as an SPL token, is backed 1:1 by native Bitcoin held by Coinbase.

cbBTC is live on @solana.

cbBTC is an SPL token that is backed 1:1 by Bitcoin (BTC) held in custody by Coinbase.

This is the first token Coinbase has issued on Solana, and with it, we’re excited to bring easy access to BTC.

Here’s what you can do with your cbBTC on day one ↓

— Coinbase 🛡️ (@coinbase) November 7, 2024

The addition will join the variety of other wrapped options for Bitcoin on the chain. Some include tBTC, WBTC via Wormhole, and soon-to-be-listed zBTC and sBTC. This further rounds out the Bitcoin offering on Solana.

On the first day, it was integrated into major DeFi platforms, including Jupiter Exchange, Meteora, Kamino Finance, Jito Sol, PhoenixTrade, DriftProtocol, Raydium, Orca, Save Finance, ManifestTrade, and Loopscale Labs, where it also presents users with most of the liquidity and collateral opportunities presented on Solana’s DeFi applications.

In the meantime, Solana (SOL) price appears poised for a breakout as bullish momentum gains traction. It also lifts the cryptocurrency to a three-month high. Some experts think it could soon reach $300 and surpass BNB token.

cbBTC Making Inroads in Global Crypto Markets

On September 12, Coinbase introduced the cbBTC customers in Singapore, Australia, the UK, and the US – apart from New York. This is its wrapped Bitcoin product, first available on Ethereum and Base. It is fully backed at a 1:1 ratio by Bitcoin and held in Coinbase custody.

One more notable thing is that cbBTC will be operated without order books or trading pairs dedicated explicitly to itself within the Coinbase platform. This is how it makes its usage seamless over multiple chains.

According to CryptoQuant, cbBTC has emerged as the third most used wrapped Bitcoin asset in just one week. The token has leapfrogged long-standing competitors such as Huobi BTC, HBTC, and renBTC, RENBTC to compensate for lost ground in the wrapped Bitcoin market.

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Teuta Franjkovic

Teuta is a seasoned writer and editor with over 15 years of experience in macroeconomics, technology, and the cryptocurrency and blockchain industries.

Starting her career in 2005 as a lifestyle writer for Cosmopolitan, she expanded into covering business and economy for several esteemed publications like Forbes and Bloomberg.

Influenced by figures like Don and Alex Tapscott and Laura Shin, Teuta embraced the blockchain revolution, believing crypto to be one of humanity’s most crucial inventions.

Her fintech involvement began in 2014, focusing on crypto, blockchain, NFTs, and Web3. Known for her excellent teamwork and communication skills, Teuta holds a double MA in Political Science and Law.

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.