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Will Shiba Inu Price Hit ATH Before Year End?

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3 hours ago

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Shiba Inu (SHIB), the popular meme-inspired cryptocurrency, has experienced a significant dip recently following a broader market correction. Despite this setback, the Token has soared by an impressive 113% over the past year. 

The altcoin, however, now faces challenges in stabilizing its value as it attempts a recovery. Market analysts remain cautiously optimistic, with some predicting that SHIB could regain momentum and potentially hit new all-time highs.

Can Shiba Inu Price Hit ATH Before Year End?

The possibility remains for Shiba Inu price prediction to reach its all-time high before year-end, but it requires a 352% rally. Recent examples from the meme coin market support this potential surge.  At the time of writing, the price of SHIB is at $0.00001667, with a decrease of 5% in the past 24-hours.

For instance, Moodeng’s price recently skyrocketed by 325% within 72 hours, highlighting how quickly the market can respond to revived interest. This example signals the scope for rapid gains in digital assets with increased investor momentum. 

Will Shiba Inu Price Hit ATH Before Year End?Will Shiba Inu Price Hit ATH Before Year End?
Shiba Inu Price Chart: Source: TradingView

Shiba Inu’s prospects are further strengthened by renewed enthusiasm for meme coins, evidenced by rising demand in tokens like PEPE, POPCAT, MEW WIF, BONK, FLOKI, and BRETT. 

Despite recent market downturns, Shiba Inu continues to attract attention. Shibburn and Shibarium developments, alongside significant whale transactions, suggest a potential for Shiba Inu’s price rise in the coming months.

Shib Burn Creates Negative Supply Shock

Shiba Inu’s burn mechanism has triggered a notable supply contraction, intensifying scarcity within the cryptocurrency market. In the past 24 hours alone, over 9 million SHIB tokens were burned, marking a burn rate increase of 114.36%. 

This continuous reduction has brought the total burnt SHIB from the initial supply to a staggering 999.98 trillion tokens, leaving a circulating supply of approximately 410.73 trillion. As the total supply dwindles, it creates a potential for a tighter supply-demand dynamic, which could support price growth if demand spikes.

Will Shiba Inu Price Hit ATH Before Year End?Will Shiba Inu Price Hit ATH Before Year End?
Source- Shibaburn

Shiba Inu Price Prediction: Analyst Says it’s “Time to Buy SHIB” Again

Crypto analyst shared an x post highlighting the current potential of Shiba Inu as a buying opportunity. According to the chart analysis, SHIB’s price has experienced a downturn, aligning with technical support zones. Despite the possibility of further dips, the analyst believes that now could be a favorable time to invest. 

The post suggests a cautious yet optimistic outlook, with potential for gains if prices rebound from current levels. This analysis reflects a growing sentiment among crypto enthusiasts to leverage current price positions, particularly in volatile markets like Shiba Inu.

Shiba Inu’s unique supply factors and market interest provide hope for gains. While ATH by year-end is challenging, favorable trends and strong demand could drive a significant rally.

Frequently Asked Questions (FAQs)

While challenging, it’s possible if market demand spikes and investor sentiment remains strong.

Shiba Inu would require a 352% rally from its current price to hit its previous all-time high.

The burn mechanism reduces SHIB’s supply by permanently removing tokens, potentially driving up prices if demand grows.

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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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4 XRP Competitors to Buy to Turn $1 to $1000 in 2024

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2 days ago

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October 24, 2024

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The cryptocurrency market is showing signs of recovery, with several XRP competitors emerging as strong contenders. These coins have demonstrated remarkable growth, making them potential investments to transform $1 into $1000 by 2024.

4 XRP Competitors to Buy to Turn $1 to $1000 

The XRP price remains steady at $0.52, while Bitcoin holds at $67K and Ethereum stays above $2,500. Here are four XRP competitors to consider for 2024 investments.

Solana (SOL) 

Solana (SOL), an open-source blockchain, is gaining momentum in decentralized finance (DeFi). Supporting decentralized applications (DApps), the latest SOL price has surged by 4% to $173 in the past 24 hours. 

Over the last year, the layer one market value soared by over 452%, showcasing strong market growth. Solana is emerging as a major XRP competitor, attracting investors seeking high returns in 2024.

According to Coinglass data, Solana’s derivatives market has seen significant activity. The total volume increased notably, with open interest rising, reflecting growing market participation. Options trading volume has expanded, with a corresponding rise in open interest. These metrics highlight Solana’s increasing traction in derivatives, signaling strong investor interest.

4 XRP Competitors to Buy to Turn $1 to $1000 in 20244 XRP Competitors to Buy to Turn $1 to $1000 in 2024
Source- Coinglass

Dogecoin (DOGE)

Dogecoin (DOGE), a major meme coin featuring a Shiba Inu from the “doge” meme, has recently experienced a significant price increase. Rising by 13% in the past week, the price of DOGE has climbed to $0.138. Over the last year, its value surged by 106%, indicating growing interest in the cryptocurrency. This positions Dogecoin as a competitor to XRP in the crypto market.

The whale transaction count for Dogecoin has surged significantly, indicating increased activity from large holders. As of late October, transactions above $100,000 saw a noticeable rise, coinciding with a price. This trend highlights heightened whale interest and potential market movement for Dogecoin.

4 XRP Competitors to Buy to Turn $1 to $1000 in 20244 XRP Competitors to Buy to Turn $1 to $1000 in 2024
Source- Santiment

Toncoin (TON)

Toncoin (TON) is gaining attention for its cutting-edge layer-1 blockchain technology, offering fast transactions and low fees. Currently priced at $5.19, it has experienced a 1% dip in the past 24 hours. Despite this, Toncoin has skyrocketed by 1127% over the past year. This strong performance positions it as a potential XRP competitor in 2024.

TON currently has a total value locked (TVL) of $390.12 million. This reflects the growing interest and confidence among investors in the platform. The increasing TVL indicates that more assets are being held within TON, highlighting its potential for future growth in decentralized finance (DeFi).

4 XRP Competitors to Buy to Turn $1 to $1000 in 20244 XRP Competitors to Buy to Turn $1 to $1000 in 2024
Source- DeFiLIama

Cardano (ADA)

Cardano (ADA), a leading third-generation blockchain, has gained attention for its energy-efficient proof-of-stake (PoS) protocol, which contrasts with traditional proof-of-work (PoW) systems. 

Over the past year, the ADA price has increased by 21% despite a recent 4% dip, trading at $0.3414. As XRP competitors rise, investors are eyeing potential gains, hoping to turn $1 into $1,000 by 2024.

If the ADA price breaks through the $0.4 resistance level, it could see a bullish reversal. This movement may push ADA toward the next significant resistance point at $0.5 in an upcoming rally.

4 XRP Competitors to Buy to Turn $1 to $1000 in 20244 XRP Competitors to Buy to Turn $1 to $1000 in 2024
Source: TradingView

As the market remains volatile, XRP competitors present opportunities for investors. With notable growth trends, these cryptocurrencies may turn modest investments into substantial profits by 2024. Investors should closely monitor these promising coins for potential high returns in the upcoming year.

Frequently Asked Questions (FAQs)

XRP competitors are alternative cryptocurrencies showing potential for significant growth. They offer opportunities to multiply investments by 2024.

Toncoin’s $390 million TVL reflects increased investor trust, making it a promising option for future growth in decentralized finance (DeFi).

Yes, as these cryptocurrencies show impressive growth trends, they present opportunities for turning small investments into significant profits by 2024.

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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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Hamster Kombat

Will Hamster Kombat Price Surpass $0.1 Amid Season 2 Launch?

Published

3 days ago

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October 24, 2024

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The cryptocurrency market is witnessing renewed selling pressure in the end week of October as Bitcoin price teases breakdown below $65,000. The bearish momentum has struck most major altcoins, including the telegram-hit game Hamster Kombat, registering a 12% intraday loss to trade at $0.06. However, with the upcoming season 2, the Hamster Kombat price holds an opportunity for a major reversal to $0.1

Can Hamster Kombat Price Hit $0.1 After Season 2 Launch?

Hamster Kombat is gearing up for an exciting overhaul in its highly anticipated Season 2. The viral telegram game is set to shift its focus, with players now stepping into the shoes of CEOs of game development studios. 

In Season 1, gamers managed a cryptocurrency exchange, but the new season will bring more complex objectives like hiring employees, developing hit games, and ultimately building a successful gaming platform.

The game’s OG players will be happy to know that clicker elements will continue to be part of the gameplay. Moreover, the developers plan to implement a payment system, token buybacks, and NFT-based assets for in-game rewards. 

Season two is set to launch at the end of October 2024. The new features will boost user engagement with the HMSTR coin and drive the Hamster Kombat price for a $0.1 rally.

HMSTR Coin Breaks Support Line: Is a Major Correction Ahead?

In the last three weeks, the HMSTR coin has shown a steady downtrend amid a falling wedge pattern formation. Generally, the chart setup indicates diminishing bearish momentum and offers a bullish breakout from the overhead trendline.

However, with a recent market pullback, the Hamster Kombat price gave a bearish breakdown from the bottom support trendline. If sustained, the breakdown below pushes the asset for a $0.003 breakdown. 

A bearish confluence between the 4-hour exponential moving average (20, 50, and 100) could assist sellers in driving a prolonged correction trend.

Hamster Kombat PriceHamster Kombat Price
HMSTR/USDT -1d Chart

On the contrary, the Hamster Kombat price shows long tail rejection candles at $0.33, projecting the buyers are defending the bottom support. This renewed bullish momentum could push the asset back to the wedge pattern but a potential breakout from the overhead trendline is crucial to signal trend reversal.

Frequently Asked Questions (FAQs)

With the release of Season 2, which includes new features such as game development studios and NFT-based rewards, the Hamster Kombat (HMSTR) token holds potential for a price rally to $0.1.

The falling wedge pattern observed over the last three weeks suggests diminishing bearish momentum.

In Season 2, players will take on the role of CEOs of game development studios, managing employees and producing hit games

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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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Dogwifhat Price Analysis

Why Selling These 3 Altcoins Before November Is a Stupid Decision

Published

3 days ago

on

October 23, 2024

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The crypto market is gradually embracing a bullish sentiment in Q4, with Bitcoin on the verge of a breakout toward $70,000. Amid this renewed momentum, selling these three altcoins now could be a missed opportunity for investors as they are poised for a prolonged rally in November.

Why Dumping These 3 Altcoins Before November Might Be a Big Mistake

The altcoin market has started gaining momentum for a Quarter 4 rally as Bitcoin triggered renewed recovery sentiment after a $60,000 rebound. Meme cryptocurrencies, known for their dynamic reactions to market shifts, tend to experience sharp moves during such rallies, often outperforming traditional altcoins in the short term. Among the top meme coins, Dogwifhat (WIF), Goatseus Maximus (GOAT), and SPX6900 (SPX) stand out as must-hold assets.

Altcoins- Dogwifhat (WIF)

In the last 10 weeks, the Solana-based meme coin Dogwifhat showcased a notable recovery from $1.07 to $2.97— accounting for 177% growth. However, the coin price recently retraced to $2.4 to recuperate the bullish momentum, while the market cap fell to $2.41 Billion.

According to Coinglass data, the WIF OI-Weighted funding rate remains positive at 0.0082%. This suggests that long positions are still willing to pay a premium to hold their trades, indicating that traders maintain a bullish outlook despite short-term price corrections.

Thus, the WIF price is better positioned to form a fresh higher low and drive a recovery past $3.

WIFWIF
WIF OI-Weighted Funding Rate | Coinglass

Goatseus Maximus (GOAT)

Goatseus Maximus (GOAT) is an AI-generated meme-cryptocurrency that quickly gained crypto investors’ attention due to its high momentum and viral nature. 

According to Lookonchain data, a crypto trader stupidmoney.sol sold his entire 15.15M GOAT 9 days ago, turning their 5 SOL( worth approx $727) into 15,883 SOL( worth 2.44M). However, the GOAT price extended its recovery to reach $0.69 now while boosting a market cap of $695.47 Million.

If the trader has held its current position, his profit would be more than $10M.

Unlike other altcoins, Goatseus Maximus continues to show strong recovery momentum with no signs of slowing down, making it a foolish decision to sell this asset at this stage.

SPX6900 (SPX)

SPX6900 (SPX) is an Ethereum-based meme coin that parodies the S&P 500, currently trading at $0.79 and a market cap of $731 Million. Over the past two weeks, the SPX price has traded sideways, resonating within two converging trendlines of a bullish pennant pattern.

Theoretically, the chart setup drives a short-term consolidation for the prevailing trendline to regain momentum. If true, the meme cryptocurrency is poised for a 6.6% jump before offering a major breakout from the pattern’s key resistance.

A potential breakout will accelerate the bullish momentum for a rally past $2.

Altcoins - SPX6900Altcoins - SPX6900
SPX/USDT -1d Chart

Conclusion:

Selling WIF, GOAT, and SPX6900 before November could be a missed opportunity as these altcoins show strong bullish patterns and market data suggest potential for higher rallies.

Frequently Asked Questions (FAQs)

Investors should avoid selling these altcoins as they are positioned for a potential rally in November. WIF, GOAT, and SPX show strong bullish patterns and positive derivative market data, indicating a likelihood of higher price surges.

The positive OI-Weighted funding rate for WIF, currently at 0.0082%, suggests that long positions are still paying a premium to hold their trades

The pennant pattern in SPX6900 suggests that the asset is in short-term consolidation, likely preparing for a breakout.

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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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