Price analysis
TROY Price Surges 20%: What’s Fueling the Rally?
TROY price has surged significantly over the past 24 hours, capturing investor interest as it rides a strong uptrend. Over the last week, TROY has shown consecutive daily gains, reaching new highs in line with a broader crypto market rally. Investors closely monitor TROY’s performance, eager to see if this positive trend will continue amidst the larger cryptocurrency surge.
TROY Price Surges 20%: What’s Behind the Sudden Spike?
TROY price surged 20% in the past 24 hours, reaching $0.005307, boosting its market cap to over $45.77 million. This recent rally has captured attention, driven by the token’s new futures listings on major exchanges, including Bitget and Binance. These additions sparked a 100% jump in TROY’s price, significantly increasing investor interest.
Open interest in TROY futures climbed to a record $5 million, with most of the volume centralized on platforms like Binance, Bitget, and BingX. This figure marks a notable rise from last week’s low of $3.5 million, reflecting heightened demand following its listings on prominent exchanges, often fueling price momentum.
According to its whitepaper, TROY is a blockchain ecosystem featuring TROY Play, a marketplace for AI agents accessible through TROY ID. Users on this platform can integrate agents from networks such as AgentLayer’s AgentStudio and third-party applications. Other elements within the network include TROY DAO, which offers exclusive membership privileges like early access to AI agents, and TROY Trade, which is designed to support the growth of AI initiatives on the platform.
The recent announcement of a $10 million ecosystem fund has bolstered TROY’s development efforts. A strategic investment from Unicorn Verse, known for its involvement in projects like LeverFi and CoralApp, added to TROY’s upward momentum. Over the past month, TROY’s price has surged by 254%, underlining this AI and gaming-focused cryptocurrency’s strong market interest and future potential.
Will TROY Price Hit $0.01 Soon?
The Relative Strength Index (RSI) currently stands at 61.31, indicating moderate bullish momentum. RSI’s position above the midline shows an upward trend, though it remains below overbought levels.
The Moving Average Convergence Divergence (MACD) indicator shows bullish sentiment with a recent crossover of the MACD line above the signal line. This positive movement, supported by green histogram bars, could signal upward momentum if sustained.
If the bullish trend for TROY continues, the token could potentially test its next resistance level at $0.008. A breakout beyond this point may lead to a rally towards the $0.01 mark.
However, if bearish pressure intensifies, the price could retest the recent support level around $0.005.
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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While the Shiba Inu price has crashed by 65% from its November highs, one crypto analyst believes it is too resilient to fail and that it is much better than other meme coins like Dogecoin and Pepe. As such, if her reasons are correct, the SHIB price will likely bounce back in the long term.
Shiba Inu Price Could Soar as Analyst Makes Her Bullish Case
A crypto analyst has suggested that Shiba Inu is too strong to fail. That is likely a reference to the “too big to fail” phrase that refers to the biggest banks in the United States.
In an X post, an anonymous analyst going by the name ShibaBaby Shib, explained that Shiba Inu had transitioned from being a meme coin into a full-fledged ecosystem with real utility.
She pointed to Shibarium, its layer-2 network that aims to compete with other players like Base and Arbitrum. Additionally, she pointed to other utility tokens in the ecosystem like BONE, LEASH, and TREAT. Each of these token has a clear utility in the crypto industry, with BONE being used to handle payments in Shibarium. She said:
“SHIB isn’t just hype—it’s a movement with infrastructure, vision, and unstoppable community strength.”
Shibarium has become a rapidly growing layer-2 network, handling over 1.05 billion transactions. It has also added over 197 million addresses over time. Its growth will contribute to Shiba Inu’s performance by increasing its burning mechanism.
In addition, unlike other inflationary meme coins, Shiba Inu continues to burn billions of tokens weekly. Burning reduces the number of coins in circulation, boosting the value of the remaining tokens.
SHIB Price Technical Analysis
The daily chart reveals that the Shiba Inu price has formed a few bullish chart patterns that point to 3x in the longer term. It formed a big falling wedge between November last year and March. A strong bullish breakout often follows this pattern, especially if it is a big one.
SHIB price has also formed a triple-bottom pattern at $0.00001080. This pattern is made up of three low swings and a neckline, which, in this case, stands at $0.000033, its highest level in 2024.
Most recently, it has formed a smaller double-bottom with a neckline at $0.00001567.
Therefore, while it is too early to predict, it is likely that the coin will bounce back, and possibly hit the neckline at $0.00003335. This SHIB price forecast is about 300% above today’s level.
The alternative scenario is dire for the coin. A drop below the triple-bottom point at $0.00001080 will be a sign that bears have won and push the coin much lower over time.
Frequently Asked Questions (FAQs)
The analyst cited the fact that SHIB was no longer a meme coin. Instead, it is a solid cryptocurrency project with a utility.
The most likely scenario is where the SHIB price surges and hits its highest level in 2024, which is about 3x from the current level.
From a technical perspective, the bullish forecast will become invalid if it falls below the triple bottom point.
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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Ethereum price tumbles below $1,600 facing pressure amid $86 million DeFi capital flight to faster, low-cost rivals like Solana.
Capital Rotation Into Solana Spurs Concerns for Ethereum’s DeFi Dominance
Ethereum (ETH) is facing renewed competitive pressure after nearly $87 million in assets migrated from its ecosystem to rival blockchains in the week following former U.S. President Donald Trump’s repeal of a controversial decentralized finance (DeFi) regulation.
On April 10, Trump signed a bill overturning a Biden-era mandate requiring DeFi protocols to comply with Know Your Customer (KYC) and Anti-Money Laundering (AML) rules. The reversal was widely interpreted as a win for crypto-native projects, removing a major regulatory overhang that threatened the sector’s permissionless structure.
But for Ethereum — the current hub of DeFi liquidity — the impact has been less than favorable.
According to data from Wormhole, the largest cross-chain bridge on Ethereum, Solana captured the lion’s share of outflows with over $54 million redirected into its ecosystem. Base, Arbitrum, and Avalanche followed, attracting $9.6 million, $5.8 million, and $3.9 million, respectively.
Rapid Transfers from Ethereum Sparks 21% rally for Solana
Notably, the Solana-bound assets were funneled into DeFi protocols such as Jupiter, Kamino, and MarginFi.
Based on the latest data from DefiLlama, Solana TVL has been on a steady rise since Trump’s signing repealed the DeFI law last week.
As seen in the chart above, Solana TVL increased 12% from $6.1 billion on April 9, to hit the $6.9 million mark at press time on Wednesday, April 16. This shows that investors deposited over $800 million into various Solana native Defi protocols over the past week.
With Solana price currently trading at $135, up 21% on the weekly timeframe. Comparatively, Ethereum price is trading below $1,600 mark, with its 8% gain on the weekly candle, reflecting second lowest returns among the top 10 ranked crypto assets.
Looking Ahead:
The DeFi fund flows observed on the Wormhole bridge further reinforce the narrative that Ethereum could be losing market dominance, as deepening regulatory clarity encourages investors to switch towards rival Layer-1 and Layer-2 protocols.
The ongoing migration trend from Ethereum to faster, lower-cost networks. Ethereum still leads in total value locked (TVL), but this week’s data is a clear signal of shifting momentum.
More so, major institutional players venturing into crypto on new themes like Real-world Asset and securities Tokenization are increasingly opting for alternative layer-1 protocols like Hedera, Avalanche, while Solana and Cardano maintain a strong hold on retail dominance.
Solana, which suffered from performance concerns in 2022, has staged a significant turnaround in both uptime and developer activity.
The network processed over 60 million daily transactions this week, far surpassing Ethereum’s 1.1 million, and maintained average fees below $0.01, according to data from Solana Explorer.
Ethereum Price Forecast: ETH Eyes $1,700 Rebound as Momentum Shifts
Ethereum price forecast charts show early signs of a potential rebound after closing at $1,592.60, gaining 0.24% on the day.
The Bollinger Bands are starting to compress, suggesting a volatility squeeze, with the mid-band resistance at $1,695.42 acting as the first upside target. ETH price is currently attempting to reclaim ground within the lower half of the bands, signaling the possibility of a bullish reversal.
The Parabolic SAR dots have flipped below the candlesticks, which is a classic buy signal in trend-following strategies.
This adds further weight to a bullish Ethereum price forecast, especially as the MACD histogram shifts into green territory for the first time in weeks. The MACD line is rising toward the signal line, suggesting bullish momentum may soon dominate.
If ETH clears $1,695, a push toward the upper Bollinger Band at $1,960 becomes plausible. However, failure to maintain current support near $1,430, ETH price risks a retest of $1,397.19, where the SAR last confirmed support.
Frequently Asked Questions (FAQs)
Ethereum faces stiff competition from faster, lower-cost Layer-1s like Solana, especially after $87M in assets migrated post-regulation repeal.
Ethereum still leads in Total Value Locked (TVL), but ongoing migration to Solana and others poses a real competitive threat.
Yes, Ethereum remains foundational for DeFi, but investors should monitor shifting flows and regulatory developments affecting its ecosystem
ibrahim
Crypto analyst covering derivatives markets, macro trends, technical analysis, and DeFi. His works feature in-depth market insights, price forecasts, and institutional-grade research on digital assets.
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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Pi Network price is under heavy selling pressure today, April 16, as the community draws similarities between the project and the recent wrangles around Mantra (OM). The Pi Coin community now believes that the project can only avoid a similar fate by adopting transparency, which would secure listings on major exchanges like Binance and Coinbase. If this happens, how high would the Pi Network token rally?
Pi Network Price Prediction As Community Demands Transparency
Dr Altcoin, one of the most vocal members of the Pi Coin community has demanded that the project adopt transparency to avoid following the same path as Mantra. In an X post, he stated,
“It serves as a HUGE lesson for the Pi Core Team as we transition from the Open Network to the Open Mainnet… One thing is clear about the PTC, they are not transparent.”
Dr Altcoin’s remarks come after another user noted that there have been no major developments in the Pi Network ecosystem since the Pi Open mainnet launch.
This lack of transparency has hindered top exchanges like Binance and Coinbase from listing the token and driving a Pi Network price rally. These exchanges require access to an auditable mainnet to assess factors such as liquidity and decentralization before listing a token.
Additionally, the community has previously expressed concerns about Pi Coin tokenomics. Data from Pi Explorer shows that the top 3 wallets belong to the Pi Coin team, and they hold more than 67 billion PI tokens, which is more than half of the maximum supply of 100 billion.
Therefore, if the Pi Network team can address these concerns and embrace transparency, increased investor confidence may push the price to a new record high of $3. Listings on top exchanges might also accelerate this uptrend and prevent the steep Mantra downtrend.
Pi Network Technical Analysis as Pi Coin Re-Enters Demand Zone
Pi Network price has dropped by 17% today to trade at $0.611 at press time. After this drop, the altcoin has entered a major demand zone, which may lead to the next bullish leg if buyers step in. Looking at past trends, each drop to this level has quickly been followed by a surge in buying volumes.
The volume profile bars further show that Pi Coin has entered a region that has previously been marked by high trading volumes. Traders should watch out for the PoC line at around $0.73, as a move above it will flip the structure to bullish and precede a run past $1.
The RSI also hints at a possible trend reversal after it plunged to an oversold level of 28. The last time that Pi Network was this oversold, the price bounced by 99% within hours. This further supports a bullish Pi Network price prediction.
Considering the community efforts to advocate for transparency, Pi Network price may witness a trend reversal and possibly reach an ATH above $3 if the Pi Coin team heeds the concerns. Moreover, the three-hour chart hints towards a possible reversal in the near term.
Frequently Asked Questions (FAQs)
Pi Network price could rally past the $3 ATH if Pi Coin adopts transparency. Embracing transparency may also lead to listing on top exchanges like Binance and Coinbase.
Pi Coin price can recover after the recent dip with the 3-hour chart showing that it has entered a demand zone. The oversold RSI also hints at a trend reversal.
The recent sell-off in Pi Coin is due to profit-taking after the recent rally that saw PI outperform the broader market. Lack of confidence in the long-term performance may also be driving the downtrend.
muthoni
Muthoni Mary is a seasoned crypto market analyst and writer with over three years of experience dissecting blockchain trends, price movements, and market dynamics. With a sharp eye for technical analysis and an in-depth understanding of on-chain metrics, she delivers insightful, data-driven content that helps investors navigate the fast-paced world of digital assets.
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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