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🆕 SHIB price prediction as Shibarium hits 300,000 wallet addresses Finbold analysis: In the world of cryptocurrencies, Shiba Inu (SHIB) has been making noteworthy strides lately. It’s presently trading at $0.000008278, marking a 2.08% increase over the past day and a modest 0.2% rise over the week. Despite its meme origins, SHIB’s market capitalization has grown to an impressive $4.8 billion. The recent legal victory of Grayscale Investments against the U.S. Securities and Exchange Commission (SEC) has had a positive impact on the wider cryptocurrency market. The optimism around the possibility of a Bitcoin exchange-traded fund (ETF) led to a brief surge in Bitcoin’s price, reaching as high as $28,000 after the announcement. Interestingly, SHIB also followed suit, benefiting from the improved overall market sentiment. What to you think about the SHIB price?

🆕 SHIB price prediction as Shibarium hits 300,000 wallet addresses

Finbold analysis:

In the world of cryptocurrencies, Shiba Inu (SHIB) has been making noteworthy strides lately. It’s presently trading at $0.000008278, marking a 2.08% increase over the past day and a modest 0.2% rise over the week. Despite its meme origins, SHIB’s market capitalization has grown to an impressive $4.8 billion.

The recent legal victory of Grayscale Investments against the U.S. Securities and Exchange Commission (SEC) has had a positive impact on the wider cryptocurrency market.

The optimism around the possibility of a Bitcoin exchange-traded fund (ETF) led to a brief surge in Bitcoin’s price, reaching as high as $28,000 after the announcement. Interestingly, SHIB also followed suit, benefiting from the improved overall market sentiment.

What to you think about the SHIB price?

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According to the BeInCrypto Analytics: Shiba Inu (SHIB) May Continue Uptrend as It Breaks Out Shiba Inu (SHIB) has broken out of a symmetrical triangle in an uptrend, signaling a hike in the meme coin’s buying pressure. When an asset’s price breaks above the resistance line of a symmetrical triangle in this manner, it is a bullish sign. It is interpreted as a shift in momentum toward coin accumulation. SHIB’s rising futures open interest showed that its derivatives market participants have maintained a bullish outlook despite its price troubles in the past few weeks.  At $77.26 million as of this writing, the meme coin’s open interest has rallied steadily by 38% since the beginning of this month. At its current level, SHIB’s futures open interest sits at its highest since April 14.  When an asset’s open interest climbs in this manner, it suggests an influx of new capital and a rise in the number of traders opening new positions. The positive funding rate that continues to trail SHIB confirmed the market’s bullish conviction. It suggests that more traders are buying the coin with the expectation of selling at a higher price.  Although SHIB currently trades above its long-term resistance level, the meme coin remains at risk of decline as key technical indicators suggest the presence of bearish elements. Readings from the coin’s Moving Average Convergence Divergence (MACD) showed that the MACD line remains under the signal line. When these lines are arranged this way, the asset’s short-term moving average is below the long-term moving average. Market participants often interpret it as a sell signal. Further, the coin’s Awesome Oscillator currently posts red bars. The indicator measures market momentum, and when its histogram bars are red like this, it indicates that the current momentum is bearish. It is often considered a sign to start selling or enter short positions.  If selling activity spikes, SHIB’s price might break below the lower trend line of the triangle, which has formed support to trade at $0.00002535.
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According to the U.Today Analytics: 5 Key Reasons Why Bitcoin (BTC) May Hit All-Time High Soon QCP Capital, a notable Singapore-based crypto trading firm, has identified pivotal indicators, suggesting a forthcoming surge in the Bitcoin (BTC) price, potentially surpassing the previous peak of $74,000. Here are five key drivers underpinning this optimistic outlook. First, the recent release of CPI data has sparked a broad breakout across risk assets. Bitcoin swiftly rebounded above the $66,000 threshold, signaling renewed investor confidence and a shift toward risk-on sentiment. Second, QCP Capital's analysts project a continuation of this upward trajectory, foreseeing a potential return to the $74,000 highs. This projection is supported by notable market activity, including substantial purchases of $100,000-$120,000 per BTC call options for December 2024. Third, institutional interest in Bitcoin remains robust, with major asset managers like Millennium Management and Schonfeld allocating significant portions of their assets under management to spot Bitcoin ETFs. Recent filings underscore this trend, revealing Millennium Management's $2 billion exposition through such solutions. Moreover, a convergence of factors, including widespread sovereign and institutional adoption, diminishing inflation concerns and the anticipation surrounding upcoming U.S. presidential elections, further bolsters the case for bullish momentum. As market observers speculate on the future of this breakout, there is growing anticipation regarding the potential resumption of the bull market for Bitcoin. Should this trend persist, it could pave the way for BTC to eclipse its previous all-time high at $74,000, presenting enticing prospects for investors seeking to capitalize on the potential upward trajectory.
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According to the NullTX Analytics: ANALYST SAYS DON’T BET ON DOGECOIN REACHING, BUY THIS UTILITY ALTCOIN INSTEAD Crypto analyst Pav Hundal has expressed skepticism about Dogecoin’s potential to surge to $1. As the largest meme coin by market capitalization, Dogecoin (DOGE) boasts a significant community, which could paradoxically pose the biggest obstacle to its ascent. Hundal revealed that Dogecoin’s large community of investors and crypto holders could trigger a massive sell-off if the cryptocurrency experiences a sudden increase. The analyst also highlighted that profit-takers were a considerable hurdle to a steady rally in Dogecoin (DOGE). For more clarity, a large-scale sell-off of Dogecoin (DOGE) could result in a sharp price decline, potentially driving it below its value even before the initial spike. Hundal expressed uncertainty about Dogecoin’s (DOGE) ability to reach $1 before such a sell-off, highlighting that the cryptocurrency’s steady price increase was dependent on the decisions of millions of investors who entered the market in 2021. The crypto analyst also disclosed that Dogecoin’s Open Interest (OI) has declined by 50% since the beginning of April 2024. At the time of writing, the cryptocurrency is trading at $0.144, marking a 3.47% decline in the last 24 hours and a 24.91% over the past month, according to CoinMarketCap. While Dogecoin’s bullish path to $1 appears elusive, investors have alternative opportunities in valuable crypto projects like ETFSwap (ETFS) that offer potentially higher returns. ETFS, the utility token of ETFSwap, provides a more stable investment option compared to meme coins like Dogecoin (DOGE), which are prone to volatility and susceptible to market sentiment. Furthermore, ETFS is poised to surge exponentially as demand for the tokens approaches all-time highs.
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