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Shiba Inu Price Records Largest Weekly Gain Since Feb, ATH Next?

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1 month ago

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Shiba 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 Records Single Largest Weekly Gain Since Feb, ATH Next?Shiba Inu Records Single Largest Weekly Gain Since Feb, ATH Next?
SHIB/USDT Price Chart

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:

  1. Coingecko data shows the 24-hour trading volume is up 255%, signaling a recent spike in market investor interest.
  2. 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.
  3. 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. 

Shiba Inu Records Single Largest Weekly Gain Since Feb, ATH Next? Shiba Inu Records Single Largest Weekly Gain Since Feb, ATH Next?
Shiba Inu Price Analysis Chart

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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Here’s why Stellar Price Could Go Parabolic Soon

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7 hours ago

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December 23, 2024

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Stellar price plunged in the last three weeks due to a risk-off sentiment brought forth by Fed’s interest decision for 2025. The XLM price has formed a falling wedge pattern and found support at the 50-day moving average, indicating an eventual comeback as investors buy the dip.

Stellar Price Technical Analysis: Falling Wedge Forms

The Stellar Lumens coin fell sharply and formed a few lower lows and lower highs as Bitcoin and most altcoins crashed. This decline has seen it form a falling wedge chart pattern, which is made up of two falling trendlines. The upper trendline connects the highest level on December 2 and 17, while the lower lines link the lower lows since November 26.

A falling wedge is a highly popular reversal sign. In most cases, this reversal happens when the two lines are nearing their confluence levels, which is about to happen.

Another bullish case is that the XLM price has found support at the 50% Fibonacci Retracement level. This retracement links the lowest and highest levels in 2024.

Further, the Stellar price seems to have completed its mean reversion, which explains why it crashed in the past few days. Mean reversion is when a cryptocurrency or a stock return to its average price. In this case, it has found substantial support at the 50-day moving average, where it has failed to drop below in the past two consecutive days. 

XLM price has also found support near the lower side of Andrew’s pitchfork tool. Therefore, the coin will likely have a strong bullish breakout in the coming days. If this happens, it may rally and retest the psychological point at $0.50, which coincides with the 23.6% retracement level. 

Stellar Price ChartStellar Price Chart
Stellar Price Chart

Stellar Lumens price’s bullish view will become invalid if the coin slips below last week’s low at $0.3125. Such a drop will see it drop to the psychological level at $0.30.

XLM Price Has Bullish Fundamentals

Stellar Price has some bullish fundamentals that could push its price higher in the next few weeks. The first big thing is that Stellar and Ripple are often seen as ‘cousins’ since they target the payment industry. Also, Stellar’s founder, Jed McCaleb, is one of Ripple’s founder.

Stellar and Ripple are Stellar and Ripple are
Stellar and Ripple are “cousins”

Therefore, Ripple’s performance could benefit the XLM price as it has previously done. As we wrote earlier, analysts are optimistic that the XRP price will skyrocket by 60% if the SEC approves a spot XRP fund. Another analyst expects the Ripple price to surge to $4 as Binance transactions rise.

Further, Stellar’s network is doing relatively well as the DeFi total value locked stages a slow recovery. DeFi Llama data shows that the Stellar Network had a TVL of over 135 million XLM, higher than last week’s low of 112 XLM. 

Therefore, a combination of strong fundamentals and technicals may help the Stellar price rebound in the near term.

Frequently Asked Questions (FAQs)

Stellar lumens has retreated because of the ongoing crypto sell-off. Bitcoin and other cryptocurrencies like Ether and Solana have all plunged hard.

The XLM token may rebound to at least $0.50 because the falling wedge chart pattern works out well. Besides, it has already completed the mean reversion pattern.

Stellar price has strong fundamentals, including its similarity with Ripple and its growing ecosystem in the DeFi industry.

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crispus

Crispus is a seasoned Financial Analyst at CoinGape with over 12 years of experience. He focuses on Bitcoin and other altcoins, covering the intersection of news and analysis. His insights have been featured on renowned platforms such as BanklessTimes, CoinJournal, HypeIndex, SeekingAlpha, Forbes, InvestingCube, Investing.com, and MoneyTransfers.com.

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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Can Pi Network Price Triple Before 2024 Ends?

Published

16 hours ago

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December 23, 2024

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Pi Network price has seen a rally of 10% amid a market resurgence over the past 24-hours. The PI price could potentially 3x before the year 2024 concludes, supported by strengthening technical indicators and the market recovery. However, rising volatility remains a critical factor to monitor closely. The recent bullish rally highlights growing investor confidence, suggesting Pi Network might continue its upward momentum in the coming months.

Will Pi Network Price 3x By End of December?

The Pi Network price is currently hovering above $48, recording a notable surge within the past 24-hours, fueled by growing excitement around its forthcoming mainnet launch. This milestone transition, set for December 31, 2024, could potentially redefine the project’s trajectory and expand its utility. 

Since its inception in 2019, Pi Network has attracted significant attention for its unique approach to cryptocurrency mining and community-driven growth. The shift from testnet to mainnet marks a pivotal development, enabling users to migrate their Pi coins to a fully operational blockchain.

With the mainnet’s launch, the ecosystem aims to unlock complete functionality, paving the way for real-world transactions and token trading. The move could solidify Pi Network’s place among notable blockchain projects.

The broader crypto market recovery, highlighted by Bitcoin hovering above $97,000, has added 

to the bullish sentiment. As Pi Network prepares to unveil its open mainnet, market analysts speculate its price could triple, bolstering optimism among investors and users alike.

PI Price Gains Momentum, Eyes Key Resistance Levels

The PI price has experienced notable movement, reflecting growing market interest. As of the latest data, the token is trading at $47.43, marking a 4.52% increase on the day. Analysts are closely monitoring the token’s trajectory within its established ascending channel.

The chart highlights a critical resistance at the $67 level, which has historically acted as a turning area for the token. Breaking this level could propel the price further into bullish territory. 

However, failure to sustain momentum might lead to a pullback toward the channel’s midline.

The histogram of MACD is seen to go upward insignificantly which is signal for a cautious optimism. Yet the RSI is neutral 47.89 implying that the tape could still trend higher or cast a pause.

The upper boundary of the ascending channel near $184 is being eyed as a potential long term target of market participants. Levels above this would mean a 254.80% rally from current prices. Support on the flipside comes in near $44, just above the channel’s lower boundary. This trend indicates strong market activity as traders weigh the token’s potential in the coming months.

Source: TradingView

Pi Network Price rally reflects huge investor confidence with upcoming significant milestones. Despite the challenges, its forthcoming mainnet launch could lead its price to multiply up to three times before 2024 ends.

Frequently Asked Questions (FAQs)

Analysts speculate it could, given bullish market sentiment.

Scheduled for December 31, 2024.

It transitions Pi to a fully operational blockchain for real transactions.

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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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Top 4 Altcoins to Hold Before 2025 Alt Season

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22 hours ago

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December 22, 2024

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The crypto market shows signs of resurgence, offering investors lucrative opportunities. These four Altcoin to Hold stand out with potential for significant growth before 2025. Backed by promising fundamentals, they are strong contenders for a surge during the anticipated bull market.

 Altcoins to Hold: XRP

XRP price has surged by 100% over the past month, reaching $2.24 during a strong market rally. Ripple’s legal battle with the U.S. Securities and Exchange Commission (SEC), which appears close to a favourable resolution, has significantly boosted investor confidence.

Market bulls are defending the $2.05–$2.20 support range, a key area attracting substantial buyer interest. Analysts suggest a break above $2.60 could lead to more upside momentum, with $3.00 as the next psychological target. XRP continues to shine as one of the top altcoins to hold before 2025.

Source: X

DexBoss (DEBO) 

DexBoss (DEBO), selling for $0.01 in its presale, is drawing attention from cryptocurrency enthusiasts. This memecoin stands out by combining humor with blockchain-based utility. Unlike typical short-lived memecoins, DexBoss offers a robust ecosystem featuring decentralized token swaps, staking opportunities, and exclusive NFT releases. 

Its unique approach appeals to both speculative investors and long-term holders. DexBoss’s foundation of blockchain technology positions it as more than a fleeting trend. The coin’s diverse features make it an intriguing option for those seeking innovation and potential in the cryptocurrency market.

Sui (SUI)

Sui (SUI) price has risen to $4.59, marking a 2% surge and highlighting its growing market appeal. The Layer 1 blockchain platform is gaining recognition for delivering fast, private, and secure digital asset management making it altcoin to buy. 

Known for its efficiency, Sui has seen a steady rise in Total Value Locked (TVL). Analysts view this momentum as a sign of investor confidence ahead of the anticipated 2025 altcoin season. With its innovative smart contract solutions, Sui continues positioning itself as a top contender among altcoins in the competitive blockchain ecosystem.

https://defillama.com/chain/Suihttps://defillama.com/chain/Sui
Source- DefiLIama

Dogecoin (DOGE)

Dogecoin (DOGE), a prominent meme-based cryptocurrency, recently recorded a significant price surge despite slight market corrections. The DOGE price has climbed 250% over the past year, trading at $0.332 at the time of writing. This remarkable growth underscores its rising popularity among investors and its appeal as a potential altcoin to hold before the anticipated 2025 alt season.

Notably, whale transactions involving Dogecoin have spiked, reflecting heightened activity among large holders. In late October, transactions exceeding $100,000 saw a sharp increase. This trend signals growing whale interest, which could further influence market dynamics and fuel continued momentum for DOGE’s price trajectory.

Source: Santiment

As crypto market dynamics shift, focusing on Altcoin to hold can yield substantial returns. These four assets offer growth potential, innovation, and community-driven resilience, making them a must-watch for 2025.

Frequently Asked Questions (FAQs)

XRP, DexBoss, Sui, and Dogecoin are top recommendations.

XRP shows bullish trends with potential legal clarity boosting confidence.

DexBoss offers utility through token swaps, staking, and NFTs.

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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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