68 days ago

Shiba Inu Could Surge 340%, Echoing Its 2021 Bull Run Peak — Analyst

Shiba Inu (SHIB), the parody coin that hit the headlines in 2021, has reignited investor interest. Based on the examination of crypto expert Javon Marks, the token has recently emerged from a declining wedge formation, which may suggest that a substantial price increase is in the offing. Related Reading: Whales Hoard $90 Million In Bitcoin: A Sign Of What’s To Come? Marks estimates that SHIB might increase by 342% and reach $0.000081, a level not seen since the bull run of 2021. If current trends continue, the canine-inspired digital asset may see a significant price turnaround. Following that milestone break, the future of SHIB’s price looks promising. According to the estimations, if the token reaches $0.00001794 in mid-November 2024, there will be a 0.65% immediate price gain. The current position at a neutral 50 of the Fear & Greed Index reveals a balanced state of mind on the market and correlates well with cautious optimism regarding the change in SHIB price. Of late, in the last 30 days, SHIB has been green for half the days, 15, and that too supports further future development. $SHIB (Shiba Inu) – Are you prepared for $0.000081!? With SHIB broken out of a recent Falling Wedge pattern and a much larger (unpictured) resisting trend, an over 342% run from here to it could happen ASAP, and this falling wedge break may only help spark the process ????! https://t.co/wSz2eVepSp pic.twitter.com/eefYqFGg1N — JAVON⚡️MARKS (@JavonTM1) October 11, 2024 The Power Of A Falling Wedge For the last five months, SHIB has been in a falling wedge pattern, which is a chart pattern in technical analysis that normally trends with a strong bullish reversal. As such, this particular pattern, where the lows are lower and the highs are lower, has proven to be a trigger for breakouts. In March 2024, the pattern was apparently clear, as SHIB declined from the yearly high at $0.000045. According to Marks, it may be the breakthrough that pushes the token all the way to $0.000081. Key Indicators Point To Strength Momentum may be emerging as SHIB trades around $0.00001785 with persistent higher lows. Additionally, the token’s 50-day and 100-day Exponential Moving Averages (EMAs) are lower than the current price, suggesting bullishness. The fact that SHIB is still trading above its 200-day Simple Moving Average (SMA) indicates that it is in an uptrend over the long term, despite the fact that it is trading below its 50-day SMA, which is often a bearish signal. The confluence of these indicators indicates that SHIB is stable, although it is possible for it to move farther in any direction. Related Reading: Baby Doge Coin Rockets 200% In 30 Days – What’s On The Horizon? Support And Resistance Levels Looking forward, Shiba Inu has important support around $0.000017; resistance at $0.000018 and $0.000019. Should the token be able to surpass these resistance thresholds, it may rapidly achieve the target anticipated at $0.000081. Meanwhile, there still is room for development, but traders and investors should continue to watch closely the activity of the price because the next steps for SHIB can validate the breakout or trigger even more consolidation. Yet considering past trends and technical hints that look hopeful, it might be just a matter of time before SHIB explodes into significant value soon. Featured image from Pexels, chart from TradingView

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Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of BitMaden. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Bitcoin Dips Below $100K As Accumulation And Institutional Activity Surge

Bitcoin has slipped below the $100,000 mark, but a significant demand zone has emerged just beneath this level. On-chain data reveals that over 1.45 million BTC were accumulated at an average price of $97,500, creating a key support zone that could influence future market movements. Will Bitcoin retrace below $100k? Interestingly, a significant demand zone has formed just under $100k. Over 1.45 million BTC was accumulated at an average price 97.5k, making this an important potential support zone. pic.twitter.com/vDcHEl8OKV — IntoTheBlock (@intotheblock) December 19, 2024 Recent months have also seen a notable shift in Bitcoin ownership. The proportion of wealth held in recently moved supply has been increasing, as long-term holders redistribute coins to new investors. This trend highlights a surge in demand-side activity and growing interest from fresh market participants. The proportion of #Bitcoin wealth held within recently moved supply has started to increase meaningfully in recent months. This occurs as coins held by Long-Term Holders are distributed to new investors, which in turn highlights a surge in new demand-side activity. pic.twitter.com/h0P5gMihlj — glassnode (@glassnode) December 19, 2024 Institutional players continue to play a pivotal role in the Bitcoin ecosystem. Marathon Digital (@MARAHoldings) recently added 1,627 BTC, worth $166 million, to its holdings within just eight hours. Meanwhile, MicroStrategy’s Michael Saylor announced plans to transition the company’s fundraising strategy. On-chain data shows that Marathon Digital( @MARAHoldings ) has accumulated 1,627 $BTC ($166M) in the past 8 hours. https://t.co/9DlN5ZPsBz pic.twitter.com/3KQUfyJnJY — Lookonchain (@lookonchain) December 19, 2024 After exhausting the current leveraged Bitcoin proxy plan, MicroStrategy intends to focus on fixed-income securities to finance future cryptocurrency purchases. So far, the firm has utilized a mix of new stock and convertible bond sales to expand its Bitcoin reserves. MicroStrategy`s Michael Saylor said that once the current fundraising plan is exhausted, the company will shift from the leveraged Bitcoin proxy plan to a more focused fixed-income securities to raise funds to buy cryptocurrencies. So far, MicroStrategy has used a combination of… — Wu Blockchain (@WuBlockchain) December 19, 2024 Bitcoin spot ETFs are also experiencing consistent inflows, signaling sustained interest from institutional investors. On December 18, spot ETFs recorded a net inflow of $275 million, marking 15 consecutive days of positive flows. Notably, BlackRock’s IBIT ETF saw a substantial net inflow of $360 million. On December 18, Bitcoin spot ETFs had a total net inflow of $275 million, continuing net inflows for 15 consecutive days. BlackRock ETF IBIT had a net inflow of $360 million. https://t.co/59u0BnEqLG pic.twitter.com/8YRtjyAxNI — Wu Blockchain (@WuBlockchain) December 19, 2024 Despite Bitcoin’s recent price dip, the underlying fundamentals indicate robust demand and increasing institutional adoption. With significant accumulation at current levels and continued inflows into Bitcoin-focused financial products, the market remains poised for potential growth in the near term. Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services. Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news ! Image Source: alekskhmelev/ 123RF // Image Effects by Colorcinch NewsBTC

Ripple, Dogecoin Whales Bought the Dip as XRP, DOGE Prices Soar

TL:DR; Investors with lots of conviction for certain assets tend to utilize deep corrections to stack more of those coins, and this seems to be the case in regards to the two of the largest cryptocurrencies – DOGE and XRP. On-chain data shows that large wallets poured millions into both during the recent market meltdown. The market-wide crash that began in the middle of the business week caught many by surprise, given the billions of dollars worth of liquidations that were evident on a couple of occasions. All crypto assets headed south vigorously, with BTC leading the way by plummeting from over $108,000 on Tuesday to $92,000 on Friday. As it typically happens, the altcoins were not sparred, just the opposite. Dogecoin and Ripple were among the worst-performing assets at one point. The largest meme coin stood north of $0.41 before the correction began but dumped by over 35% to its low on Friday of $0.26. XRP’s price plummet was almost identical as the asset came crashing down from $2.72 on Tuesday to $1.96 – a 28% drop. However, both have bounced off since those lows, with DOGE trading close to $0.34 (30% higher) and XRP at $2.3 ( up by 17% ). On-chain data shared by the popular crypto analyst Ali Martinez shows that whales tracking both assets didn’t sit on the sideline but actually went on an accumulation spree. In Ripple’s case, they stacked up on 80 million tokens since the retracement began on December 17. Whales bought 80 million $XRP since the price correction began on December 17! pic.twitter.com/nakUKEIzYC — Ali (@ali_charts) December 20, 2024 Dogecoin whales also opened up their wallets by accumulating over 250 million DOGE. Such big purchases tend to positively impact the underlying assets’ prices due to the declining immediate sell pressure. Whales bought over 250 million #Dogecoin $DOGE during the recent market dip! pic.twitter.com/qH7JSkkdhK — Ali (@ali_charts) December 21, 2024 The post Ripple, Dogecoin Whales Bought the Dip as XRP, DOGE Prices Soar appeared first on CryptoPotato . NewsBTC