Price analysis
Rising Whale Activity Signals Potential Breakout
Published
3 months agoon
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adminShiba Inu price rebounded on Thursday, establishing a six-month low after the recent market crash. The price of SHIB is trending upwards, but the overall trajectory is downward. Whale activity is rising as new whales snag over 220 billion SHIB worth $3.11 million.
Shiba Inu still has some way to go before it can turn bullish. Two major resistance levels appear overhead. To surpass them, SHIB will require much more volume.
Uptick in SHIB Whale Activity Signals Accumulation
Despite the aforementioned bearish outlook, Shiba Inu whales are active, as shown by the Whal transaction cont metric. This indicator tracks individual SHIB transfers worth $100,000 or more. Whale activity has recently picked up around Shiba Inu, as observed by looking at IntoTheBlock’s large transaction count metric.
The number of large transactions involving SHIB increased from August 7 to August 8, signaling an uptick in investors’ interest, which is bullish for the Shiba Inu price.
Additionally, Arkham Intelligence records a new smart whale that bought billions of SHIB over the past 48 hours. The whale identified as “0x4B5C” bought 220.34 billion SHIB worth $3.11 million from Coinbase. Consequently, SHIB long-term holders, who are usually whales, have increased to 78%, inspiring confidence among non-holders.
The rise of the SHIB open interest (OI) over the last 24 hours to 9.2% signals an inflow of capital into the meme coin.
Additionally, the SHIB cumulative volume delta (CVD) dropped to -204B, signaling that more people are selling than buying.
Increasing OI and price may signal shorts opening as the SHIB price approaches a potential resistance zone. Additionally, increasing OI and a dropping CVD show shorts are opening, which is a bearish signal for the SHIB price.
Will Shiba Inu Price Breakout?
SHIB price is in an overall downtrend, as seen from the falling channel (marked in orange). The price is currently trading below both the 50-day ($0.00001557) and the 200-day exponential moving averages (EMAs) ($0.00001867), reinforcing the bearish trend. However, a short-term upward correction occurs as the price attempts to break out of the descending channel.
The price action of Shiba Inu faces resistance at the 50-day EMA, near the 200-day EMA, and between $0.00001800 and $0.00001900 (highlighted in orange on the chart). Conversely, Shiba Inu price is supported at the lower boundary of the falling channel around $0.00001000 and near the $0.00000800 level, which is a historical support zone.
The SHIB price analysis chart shows recent bullish momentum, with larger green candles forming. However, the overall trend remains bearish, and this upward movement could be a pullback before the downtrend continues.
The Relative Strength Index (RSI) at 45.60 indicates a neutral to bearish position, leaning toward oversold territory. There is room for upward movement but a lack of strong momentum. The Chaikin Money Flow (CMF) is slightly negative at -0.12, indicating a minor outflow of capital, which aligns with the bearish sentiment.
Shiba Inu price prediction shows that if the asset rises and breaks above the 200-day EMA, it will signal market strength, invalidating the bearish thesis. SHIB price may surge higher to the next resistance levels around $0.00002300 and $0.00002800.
Frequently Asked Questions (FAQs)
SHIB has recently rebounded from a six-month low but remains in an overall downward trend.
Significant whale activity has been noted, with a new whale acquiring over 220 billion SHIB worth $3.11 million, indicating potential accumulation.
While there is recent bullish momentum, the overall trend remains bearish. A sustained increase in volume and a break above resistance levels are needed for a confirmed bullish trend.
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Evans Karanja
Evans Karanja is a content writer and scriptwriter with a focus on crypto, blockchain, and video gaming. He has worked with various startups in the past, helping them create engaging and high-quality content that captures the essence of their brand. Evans is also an avid crypto trader and investor, and he believes that blockchain will revolutionize many industries in the years to come. When he is not writing, you can find him playing video games or chasing 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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Will the Terra Classic Price Crash As The Shuttle Bridge Shuts?
LUNC price
Will the Terra Classic Price Crash As The Shuttle Bridge Shuts?
Published
6 hours agoon
November 5, 2024By
adminThe Terra Classic price crawled back on Tuesday, November 5, reaching an intraday high of $0.000086. This LUNC recovery happened after Terra announced that it had permanently closed the Shuttle Bridge and burned the remaining tokens.
Terra Classic Price Reacts to Shuttle Bridge Closure
In an X post, Terra announced that it had permanently closed the Shuttle Bridge interface. This closure led to the burning of the remaining LUNC and USTC tokens in the bridge. A token burn happens when tokens are moved to a discrete address that cannot be accessed.
The closure happened a few months after the developers opened the bridge to facilitate the redemption of the existing wrapped tokens. Precisely, the bridge helped users to send their LUNC and USTC bridged to Ethereum, BNB Chain, and Harmony back to Terra Classic.
The opening of the Shuttle Bridge was part of the Terraform’s Chapter 11 bankruptcy proceedings, a few years after its collapse. As part of the settlement with the Securities and Exchange Commission, Terraform Labs had to burn the remaining tokens.
Terra Luna Classic Price Is At Risk
The LUNC price formed a double-top pattern around $0.00025 earlier this year, which explains why it has dropped by 65% from its highest level in March. The neckline of this pattern was at $0.000087, where it was trading on November 5.
Terra Luna Classic price has remained below the 78.6% Fibonacci Retracement level. Most importantly, it has remained below the 50-day Weighted Moving Average indicator and the Ichimoku cloud.
The LUNC token has formed two bearish chart patterns. It has created a rising wedge, which is made up of converging higher lows and higher highs. In most periods, this pattern leads to a breakdown, especially when the two lines are nearing their confluence.
Terra Luna Classic has formed a bearish pennant chart pattern consisting of a long vertical line and a triangle-like pattern.
Therefore, the combination of a double-top pattern, rising wedge, and bearish pennant means that the token will have a bearish breakdown in the near term. If this happens, the next reference level to watch will be $0.000054, its August lows, and 38% below the current level.
On the flip side, a move above the crucial resistance level at $0.00011, its highest swing in September, will invalidate the bearish view. If this happens, it will rise to the next key resistance level at $0.00013, its highest level in May.
Frequently Asked Questions (FAQs)
Odds are that the end of the Shuttle Bridge will lead to a bearish breakdown since it has formed a bearish pennant and a rising wedge pattern.
Technicals point to more Terra Luna Classic sell-off in the next few weeks. If they are accurate, the coin may drop by 38%.
Based on our technical analysis, the initial support and resistance levels to watch will be at $0.0000054 and $0.00011
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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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Price analysis
Ripple-SEC Case Ends, But These 3 Rivals Could Jump 500x
Published
9 hours agoon
November 5, 2024By
adminThe cryptocurrency landscape is pivotal as Ripple’s case with the SEC ends. This development places XRP Rivals in the spotlight, especially as the U.S. presidential election approaches. Some alternative coins show notable growth, signaling potential for substantial returns.
Ripple-SEC Case Closed: 3 XRP Rivals Poised for 500x Gains.
The SEC has ended its appeal in the Ripple case, marking a pivotal shift for XRP, now trading at $0.50. With regulatory pressures easing, attention is turning to promising XRP rivals that could surge by 500x. As the market watches, these altcoins emerge as strong contenders for significant gains.
Solana (SOL)
Solana (SOL), a layer-one open-source blockchain, is rapidly gaining traction in decentralized finance (DeFi) markets. Known for its support of decentralized applications (DApps), the latest SOL price surged by 12%, reaching $163 over the past month.
Over the last year, Solana’s market value skyrocketed by over 293%, positioning it as significant to XRP Rivals. Investors are increasingly drawn to Solana, seeking high-growth opportunities.
If the bulls make a comeback, the Solana price prediction could successfully rally past the $180 resistance level and soon target the $200 after the U.S. elections.
Dogecoin (DOGE)
Dogecoin (DOGE), the popular meme-based crypto featuring the Shiba Inu dog, has seen a remarkable price rally, climbing 55% over the past month to reach $0.17. Its value has soared by 139% in the past year, reflecting growing interest and investment in the coin. Dogecoin’s recent surge puts it in closer competition with established cryptocurrencies like XRP, signaling increased demand in the evolving crypto market.
The crypto expert on X predicts a potential surge for Dogecoin, citing Elon Musk’s influence and anticipated U.S. government support. A new department focused on digital efficiency might provide ongoing backing, boosting Dogecoin’s growth for the next four years.
#DOGECOIN/usdt WEEKLY$DOGE hodlers are going to be so happy when Musk & the US government post about the Department of Government Efficiency ( D.O.G.E ) NON-STOP for the next 4 years
If Trumps wins, $DOGE —> $1 🎯 pic.twitter.com/csowJCIOGA
— Satoshi Flipper (@SatoshiFlipper) November 4, 2024
The expert believes Dogecoin could reach the $1 mark with favorable political developments. An included chart shows an upward trend, suggesting sustained support from influential figures could turn this meme cryptocurrency into a valuable digital asset.
Cardano (ADA)
Cardano (ADA), a prominent third-generation blockchain, has drawn interest for its eco-friendly proof-of-stake (PoS) protocol, setting it apart from traditional proof-of-work (PoW) systems.
Currently, the ADA price is $0.3322, up 1%, sparking investor anticipation of potential gains.
If ADA breaks the $0.4 resistance, analysts suggest it could initiate a bullish trend, potentially targeting $0.5 as its next major resistance. Amid a competitive environment with XRP rivals emerging, Cardano’s energy-efficient model may position it for significant growth.
The whale transaction count for Cardano has seen significant fluctuations, closely mirroring ADA’s price movements. Spikes in large transactions often coincide with price volatility. Analysts suggest whale activity could indicate future trends in ADA’s market behavior.
With the Ripple-SEC case over, XRP faces increased competition from rising cryptocurrencies ready for significant growth. These tokens attract investors with their resilience and growth potential, sparking optimism for strong returns. As the U.S. election unfolds, the crypto market watches closely for new trends and investment opportunities.
Frequently Asked Questions (FAQs)
Solana’s fast transaction speeds and DeFi focus make it a strong competitor to XRP.
With support from influential figures and favorable politics, experts believe $1 is possible.
Election results may shape crypto regulations, affecting XRP and altcoin growth.
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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Bitcoin
5 Crypto to Buy Now to Turn $100 to $100K During US Election 2024
Published
13 hours agoon
November 5, 2024By
adminThe 2024 US election between Kamala Harris and Donald Trump has sparked interest among investors eyeing potentially high-yield cryptocurrencies. With heightened market attention, certain 5 crypto to buy to turn to $100 to $100k could experience significant gains due to increased trading volumes and speculative buying.
5 Cryptos to Buy to 100x by 2024 US Presidential Election
As the U.S. presidential election looms, crypto investors face heightened uncertainty. Bitcoin recently dropped to $68K, fueling global market concerns. With Ethereum and Solana also affected, investors watch closely for potential opportunities amid market fluctuations.
Bitcoin (BTC) Will Face Brunt of US Elections
Bitcoin (BTC) has become a hot topic in the upcoming US elections and has faced resistance since early October. Despite optimistic predictions from crypto analysts, BTC reached $69,000 only 15 days before the election.
At the time of writing, the BTC price has been trading at $68,887, which is 95% in the past year. With substantial investment in fiat and crypto, Bitcoin remains the leading choice among cryptocurrencies.
Presidential candidate Donald Trump envisions the U.S. as a Bitcoin capital, while Vice President Kamala Harris emphasizes prioritizing black men in Bitcoin investment. Bitcoin will continue to be the top crypto to buy in 2024.
Super Trump (STRUMP), a PolitFi Crypto
Super Trump (STRUMP) has become a top choice for investors seeking political finance assets. Currently trading at $0.006341, STRUMP has surged 172% over the past year.
With its alignment with former President Donald Trump’s ideals of limited government control and economic freedom, STRUMP is gaining traction ahead of the U.S. election. Experts suggest it could bring strong returns, potentially turning $100 investments into substantial gains, making it a notable crypto to buy now. If the bulls return, the STRUM price could surge to $0.001 after the elections.
Doland Tremp (TREMP), Another PolitFi Crypto To Watch Ahead of US Elections
Super Doland Tremp (TREMP), a meme coin themed around political satire, has captured attention on the Solana blockchain. Modeled with humor referencing Donald Trump, TREMP has seen an impressive 146% surge since its launch. Currently priced at $0.3032, the token recently climbed another 4% in 24 hours, fueling investor interest. Often compared to BODEN, another politically inspired coin, TREMP is seen as a “crypto to buy” during the U.S. 2024 election season.
The cryptocurrency Tremp (TREM) has recently experienced a notable fluctuation in its market trends. Data from Santiment reveals that TREM’s price saw a significant spike in early May 2024, followed by a gradual decline into mid-June.
The downward trend persisted, showing limited recovery through July and August. However, late September and October brought heightened social activity, with social volume reaching unprecedented highs in early November, suggesting increased investor interest or speculation around the token.
Maga (MAGA)
Maga (MAGA), a cryptocurrency associated with the MAGA movement, currently ranks 276th among global digital assets. With a market cap of around $146 million, the asset has faced recent volatility, prompting investors to adjust their approaches. MAGA’s price has dipped to $3.32, reflecting a 2% decline over the past 24 hours.
Since its launch, however, MAGA has surged by 19,936%, positioning it as a notable crypto to buy ahead of the 2024 U.S. election. The political climate could further drive interest in MAGA, making it a prominent choice among politically themed altcoins.
Maga (MAGA) currently shows 27.3% of its “In the Money” holdings, representing 12.83 million MAGA tokens. Meanwhile, 40.9%, or 19.22 million tokens, are “Out of the Money,” with 31.8% “At the Money.” This financial breakdown reveals varying profitability across MAGA holdings, reflecting its volatile trading environment.
Sui (SUI)
Sui (SUI), a Layer 1 blockchain and smart contract platform, is gaining attention for its fast, secure, and private digital asset solutions. With a current Total Value Locked (TVL) of $984.33 million, Sui’s popularity is surging.
The latest SUI price rose to $1.55, marking an impressive 4% increase. This upward trend suggests a robust buy signal, reflecting growing market confidence in Sui as a significant altcoin. As it attracts more interest, Sui is establishing itself as a promising player in the blockchain landscape.
Cryptocurrencies are poised to react to the election’s outcome, with some assets standing out for their performance potential. Investors are encouraged to stay informed, as market movements could provide unique entry points.
Frequently Asked Questions (FAQs)
Bitcoin’s established market position and heightened election attention make it a leading asset.
STRUMP aligns with Trump’s ideals, gaining popularity for potential returns.
TREMP’s political satire theme has fueled investor interest and market gains.
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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