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Shiba Inu Price Makes End-of-Correction Pattern For 48% Rally

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2 hours ago

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The Shiba Inu price surged 2.7% during Friday’s trading session to reach $0.000018. The bullish narrative is fueled by restoring Uptober rally sentiment as Bitcoin climbs toward $70,000. With the formation of the famous Inverted Head and shoulder pattern, the SHIB price signals the end-of-correction and massive rally ahead.

Shiba Inu Price Poised for a 48% Rally with the End-of-Correction Pattern

Since mid-June, the Shiba Inu price prediction has showcased a sideways trend, struggling to surpass the $0.00002 barrier. However, an analysis of the daily chart displays this consolidation as forming a well-known reversal pattern called inverted head and shoulder. 

The chart pattern characterized by three troughs indicates the asset witness demand pressure at the bottom support. Amid October’s rally, the SHIB price rebounded from $0.00001552 to $0.0000187, accounting for 21.2% growth, while the market cap surged to $11.04 billion.

If the pattern holds true, the Shiba Inu price is poised for another 8% surge to challenge the $0.00002 neckline resistance of the In H&S pattern. Theoretically, this pattern establishes a predetermined target by measuring the distance from the middle trough to the neckline. This measurement is then applied from the breakout point to project the potential upward movement.

If the pattern holds true, the SHIB price is set for another 8% surge to challenge the $ 0.00002 neckline resistance of the In H&S pattern. A successful flip above the overhead resistance will accelerate the bullish momentum and set the dog-themed memecoin for a promising 48% rally to hit $0.00003.

Shiba Inu PriceShiba Inu Price
SHIB/USDT -1d Chart

A potential bullish crossover between the 50-and-100-day EMA strongly supports the narrative of the SHIB price breakout.

Trader Attention Shifts to Meme Coins as BTC Targets $70K

According to santiment analysis, the meme coins such as Dogecoin and Shiba Inu are drawing the most attention from traders, with social discussion rates reaching their highest levels in five months. 

As the Bitcoin price heads to $70,000, speculative traders are increasingly focusing on high-leverage meme coins. However, the layer-2 coins, such as Arbitrum and Optimism, are being largely overlooked.

However, the historical trend shows that crypto assets often move in the opposite direction from the major market sentiment. Therefore, the top meme coins may prolong their current recovery, but the risk of bearish reversal remains intact.

If the Shiba Inu price witnessed renewed supply pressure at $0.00002, the sellers could force the asset for an extended consolidation.

Frequently Asked Questions (FAQs)

The Shiba Inu price is forming an inverted head and shoulders (In H&S) pattern, signaling the end of its correction

The SHIB price is being supported by the 20-day exponential moving average (EMA), and a potential bullish crossover between the 50- and 100-day EMAs further strengthens the case for a breakout

If the Shiba Inu price faces renewed selling pressure at the $0.00002 resistance level, it could lead to extended consolidation, delaying the expected rally

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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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ADA Price

Analyst Says Cardano Price Is “Bottoming” After Hitting Two-Year Low

Published

14 hours ago

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October 18, 2024

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Except for the brief rally in early 2024, Cardano has been on a downtrend since its all-time high (ATH) of $3.1 in August 2021. ADA currently trades at $0.347, a level that was last seen two years ago. However, market analysts are suggesting that Cardano price could be forming a long-term bottom, hinting at a potential reversal and the start of a bull rally. However, investors should remain cautious as Bitcoin faces a tough resistance level of around $67,000 and could disrupt altcoin moves.

Why is Cardano Price Down Today?

ADA price today is down 0.2% in the last 24 hours and trades at $0.3476. This bearish outlook for Cardano is not localized and can be seen across the board. This can be attributed to capital rotation into Bitcoin as it approaches key levels and hints at a breakout form its seven-month consolidation. As a result, top altcoins tend to slide lower as investors allocate capital into BTC, a less risky bet than alternative cryptocurrencies.

ADAADA

Regardless, let’s take a look at Cardano price form a long-term perspective and see if it is bottoming.

Analyst Says Cardano Price Could be “Bottoming”?

Analyst Sam Mti noted that the ADA price could be bottoming out on the weekly after hitting a two-year low. However, the early Bitcoin trader said he was not interested in investing in the asset as there was no “buy signal.”

ADAADA

Considering that ADA is down 90% from its ATH, the chances that a bottom could be forming is higher. However, a breakout rally might occur soon. 

ADA Price Analysis: What’s Next For Cardano?

Cardano price action seems to be consolidating after hitting the bottom, which is a classic sign of accumulation. In comparison, Chainlink (right) underwent an accumulation for about 1 year before finally breaking out to the upside.

 

ada vs linkada vs link

Cardano underwent significant changes in 2024, including the Chang hard fork, which converted ADA into a governance token, and the successful demonstration of Hydra’s speed on the DOOM game at the Rare Evo 2024 blockchain conference.

Nevertheless, despite these huge milestones for the network, ADA price performance has been underwhelming. 

Cardano price is in a Wyckoff accumulation phase, which typically precedes a bullish move.  The price has been moving horizontally, oscillating between a demand zone around $0.30 and a supply zone near $0.40.

This kind of price action indicates accumulation, where smart money is quietly buying up tokens before a potential bullish breakout.

Accumulation phases can take time to complete as the asset consolidates within the range before building momentum for a breakout.

In the short term, the price is likely to continue oscillating between these two levels. If the accumulation pattern continues, we can expect a breakout above the $0.42 level, which could lead to a bullish rally targeting levels as high as $0.50 or beyond.

The relative strength index (RSI) is currently around 46, which is neutral. This indicates that the price has room to move either upward or downward in the short term. It’s neither overbought nor oversold, allowing for further consolidation or the beginning of an upward move.

Cardano PriceCardano Price
Cardano Price Analysis Chart

If the Cardano price breaks below $0.31, it could trigger a larger bearish move, with potential targets at $0.27, $0.24, $0.22, and possibly lower. This would invalidate the current neutral-to-bullish thesis and confirm the completion of the accumulation phase.

Frequently Asked Questions (FAQs)

Cardano price action has been independent of Bitcoin’s recent performance. ADA’s decline can be attributed to a mix of market conditions and investor sentiment.

According to some analysts, including early Bitcoin trader Sam Mti, Cardano’s price may be “bottoming out” after reaching a two-year low.

Analysts are cautiously optimistic but suggest waiting for clearer buy signals. While some signs indicate the price may be bottoming out, there’s still a risk of further dips.

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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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AGU

5 Smart Money Cryptocurrencies That Could Turn $100 to $10000 This Week

Published

1 day ago

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October 17, 2024

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The cryptocurrency market is witnessing significant shifts, with several digital assets showing potential for rapid gains. Investors, particularly those focusing on smart money cryptocurrencies, could turn $100 into $10,000 this week. However, it is essential to note that these investments are highly speculative. While the opportunity for substantial returns exists, there is also the risk that they could lose all their value.

Smart Money Cryptocurrencies To Turn $100 to $10000

The crypto market is heating up, with Bitcoin approaching $70,000 and Ethereum targeting $3,000. As major coins surge, savvy money cryptocurrency investors are turning to altcoins with high potential. Meme coins, though highly volatile, may also see movement. Here are five speculative cryptocurrencies that could turn $100 into $10,000 this week.

Goatseus Maximus (GOAT) 

Goatseus Maximus (GOAT) token has quickly gained attention since its launch on October 10 via the pump.fun platform. Since its debut, GOAT has surged by over 177%, catching the eye of investors. 

In the past 24 hours, the GOAT price has jumped 14%, trading at $0.2938. This makes it one of the standout cryptocurrencies for smart money, with the potential to turn $100 into $10,000 this week.

5 Smart Money Cryptocurrencies That Could Turn $100 to $10000 This Week5 Smart Money Cryptocurrencies That Could Turn $100 to $10000 This Week
GOAT Price Chart

Billy (BILLY) 

Billy (BILLY) price has continued to surprise the crypto community with impressive gains. In the last month, BILLY surged by 22%, delivering strong profits for investors. Listed just four months ago, the meme coin has risen 89% over the past 30 days. 

Currently priced at $0.040119, BILLY saw a 10% decrease in the past 24 hours. Despite the volatility, BILLY remains among the smart money cryptocurrencies that could turn a $100 investment into $10,000 this week. However, risks remain high in this speculative market.

Apu Apustaja (APU)

Apu Apustaja (APU), or Peepo or Helper, is a Pepe-inspired meme coin symbolizing a younger, kinder frog character. Frustrated by low-effort meme coins and deceptive developers, Apu launched his fully transparent, fair coin: $APU. 

Currently priced at $0.000840, $APU has surged 3.74% in the last 24 hours and gained 255% over the past month. With this momentum, it’s emerging as one of the Smart Money Cryptocurrencies that could potentially turn $100 into $10,000 this week, although these investments remain speculative and carry high risks.

Popcat (POPCAT)

Popcat (POPCAT), a cat-themed meme altcoin, has surged 7,935% since its launch. Currently priced at $1.34, it saw a recent 10% increase, continuing its bullish trend. As one of the smart money cryptocurrencies, Popcat holds the potential to turn a $100 investment into significant profits this week.

5 Smart Money Cryptocurrencies That Could Turn $100 to $10000 This Week5 Smart Money Cryptocurrencies That Could Turn $100 to $10000 This Week
Source- Santiment

The percentage of stablecoin supply held by POPCAT whales, with over $5 million, has increased significantly. Analysts are watching the potential impact on liquidity and volatility as these holders gain control, which may influence the next phase of market growth and price movements.

MOG Coin (MOG)

MOG Coin (MOG), an Ethereum-based meme coin, is gaining traction with its unique, meme-driven approach. Currently priced at $0.000001941, MOG has seen a 3% rise in the last 24 hours. 

Since the start of the year, MOG has surged by an astounding 10,694%, making it a potential smart money cryptocurrency for rapid gains this week. With the current bullish trend, if the meme coin mounts more pressure, it could break above the key level, targeting $0.000002 to $0.000003 in the near term.

5 Smart Money Cryptocurrencies That Could Turn $100 to $10000 This Week5 Smart Money Cryptocurrencies That Could Turn $100 to $10000 This Week
Source: TradingView

Cryptocurrencies can provide impressive returns, but they come with significant risks. The five coins listed above have been spotlighted for their potential to turn $100 into $10,000 this week. However, investors should be aware that the speculative nature of the market could result in substantial losses, including the possibility of these tokens going to zero.

Frequently Asked Questions (FAQs)

Smart money cryptocurrencies refer to digital assets targeted by experienced or institutional investors due to their high potential for returns.

These cryptocurrencies often involve speculative or meme coins with volatile price movements, making them riskier but potentially more rewarding.

While it’s possible due to the volatility, these investments carry significant risks and the potential for substantial losses.

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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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Bonk (BONK)

3 Solana Coins To Turn Portfolio of $100K to $1M By December 2024

Published

1 day ago

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October 17, 2024

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The cryptocurrency world is buzzing with high hopes as certain Solana coins show great potential for massive gains. Investors aiming for substantial returns see opportunities to grow a $100,000 investment into $1 million by December 2024. 

The crypto market trades sideways as Solana’s price remains firm, hovering around $152. Bitcoin is steady above $67,000, while Ethereum trades near $2,600. 

3 Solana Coins Poised to Turn $100K Into $1M

Bonk (BONK)

Bonk (BONK), a Solana-based meme coin, has attracted attention by distributing half of its tokens to Solana users. Over the past year, BONK’s price surged 11,857%, sparking predictions that it could turn a $100,000 investment into $1 million by December 2024. 

Currently, the value of BONK is at $0.00002291, with a slight 3% dip, but it still shows a 40% increase over the past month, indicating potential for further growth.

Crypto analyst has highlighted a potential breakout for Bonk, predicting a surge of 180% soon. According to the chart shared by the analyst, BONK is forming a bullish pattern, indicating a strong upward trend.

3 Solana Coins To Turn Portfolio of $100K to $1M By December 20243 Solana Coins To Turn Portfolio of $100K to $1M By December 2024
Source- X

​​Dogwifhat (WIF)

Dogwifhat (WIF), a meme coin in the Solana ecosystem, has gained attention for its impressive growth. Since its launch, WIF has skyrocketed over 1,429%, positioning itself as a potential game-changer. 

This rapid surge suggests a $100,000 investment could turn into $1 million by December 2024. Despite a minor 0.16% drop, WIF’s current price is $2.58, showcasing its growing influence and popularity within the crypto community.

According to the santiment data, the percentage of stablecoin supply held by whales, with more than $5 million, has seen a notable increase. As these large holders gain more control over the supply, analysts closely monitor the potential effects on liquidity and volatility. This trend could be crucial in shaping the next phase of market growth and price behavior.

3 Solana Coins To Turn Portfolio of $100K to $1M By December 20243 Solana Coins To Turn Portfolio of $100K to $1M By December 2024
Source- Santiment

Popcat (POPCAT)

Popcat (POPCAT), a cryptocurrency on the SOL blockchain, has experienced a remarkable surge, rising by 7935% recently. This increase has positioned POPCAT as a strong contender for significant portfolio gains, with a $100,000 investment potentially reaching $1 million by December 2024. 

The current price of the Cat themed-based coin is $1.34, reflecting its ongoing bullish trend. If POPCAT surpasses its current resistance levels, it may soon climb to $2. The cryptocurrency’s upward trend mirrors broader market movements, indicating a strong potential for continued growth. 

3 Solana Coins To Turn Portfolio of $100K to $1M By December 20243 Solana Coins To Turn Portfolio of $100K to $1M By December 2024
POPCAT price chart| Source: TradingView

With the current market trends, three Solana coins could turn a $100,000 portfolio into $1 million by the end of 2024. While the market remains volatile, the potential upside in Solana-based projects makes them attractive for investors looking to maximize returns in the next year.

Frequently Asked Questions (FAQs)

Bonk (BONK), Dogwifhat (WIF), and Popcat (POPCAT) show strong growth potential.

These coins could potentially turn $100K into $1M by 2024.

Market sentiment, broader crypto trends, and Solana ecosystem developments impact prices.

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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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