Altcoin
Here’s 4 Reasons Why Altcoin Season Will Still Happen
After a severe market downturn, the crypto space is finally showing signs of recovery, with altcoins outperforming Bitcoin. While Bitcoin’s dominance dips, analysts predict an incoming altcoin season, hailing it an “altseason.” Despite fluctuations, top altcoins like Ethereum (ETH), XRP, Solana (SOL), and Binance Coin (BNB) regain traction, marking significant gains.
Altcoin Season Alert: Signs of a Market Shift
As the crypto market gears up for a significant shift, analysts and experts hint at the potential arrival of an altseason, or an altcoin season. According to analyst Ted, the altcoin surge in 2024 was merely a warm-up for what’s to come. Adding to the point, he forecasts a record-breaking altseason in 2025 that is expected to make history.
Notably, in an X post, Ted highlights key drivers of the altseason. They include potential developments including multiple altcoin ETF approvals, Ethereum’s upgrade, Ethereum ETF’s staking feature etc.
Reinforcing Ted’s prediction, analyst CryptoGoos asserted that altcoins would explode, driven by a combination of factors. He explained his analysis through past patterns, in which altcoins saw major uptrends in 2017 and 2021, paving the way for a potential major altseason in 2025. In another X thread, CryptoGoos wrote, “Altcoins will pump.”
Similarly, emphasizing the historical trend of major altcoin seasons occurring in the month of February, analyst Shib Spain forecasted a recurrence. The analyst suggested that the current market conditions are ripe for a repeat of past altcoin rallies that have typically taken place during this time of year. Corroborating this idea, Max Brown also stated, “Altseason starts in February.”
Altcoin ETF Approvals Ahead
Asset managers have taken the initiative to launch multiple altcoin ETFs, pending regulatory approval. The proposed ETFs are set to track a diverse range of altcoins, including XRP, Solana, Litecoin, Dogecoin, and Cardano.
As the Securities and Exchange Commission (SEC) has recently acknowledged Grayscale’s 19b-4 filings to list XRP and Dogecoin ETFs, the odds are high for an altcoin ETF in 2025. According to Bloomberg analysts Eric Balchunas and James Seyffart, the Litecoin ETF has a 90% chance of receiving regulatory approval, making it the most likely to gain approval among the altcoin ETFs. Meanwhile, the Dogecoin, Solana, and XRP ETFs also have significant approval chances, with 75%, 70%, and 65% probabilities, respectively.
Notably, the Trump administration has a more favorable stance towards crypto ETF approvals, with a higher probability of approval compared to the previous government. This positive sentiment has sparked expectations of an altcoin season in the near future.
Upcoming Altcoin Season: What To Know More
Recently, the Ethereum blockchain released a roadmap for its Pectra upgrade. The activation is planned to occur on February 24 on the Holesky testnet, followed by March 5 on Sepolia, with a mainnet release targeted for April 8.
Meanwhile, the New York Stock Exchange (NYSE) has proposed to introduce staking in spot Ethereum ETFs on behalf of Grayscale, seeking approval from the SEC.
These developments have further fueled the hype surrounding an impending altcoin season, with Ethereum, as the leading altcoin, playing a pivotal role in driving these expectations.
Top Altcoins Stay Strong
Both historical trends and current market sentiment highlight the possibility of an upcoming altcoin season. Top altcoins show bullish signals ahead with the overall market gearing up for a significant resurgence.
As of press time, Ethereum is priced at $2,690, up by 2.06% in a week. Meanwhile, XRP has exhibited a massive growth of 12% over the last seven days. Despite Solana’s marginal decline, BNB surged by more than 5% over the past week.
Nynu V Jamal
Nynu V Jamal is a passionate crypto journalist with three years of experience in blockchain, web3, and fintech spheres. She has established herself as a knowledgeable and engaging voice in the cryptocurrency and blockchain space. Her experience as an Assistant Professor in English Language and Literature has further added to her quest for crafting informative, well-researched, and accessible content.
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.
Shiba Inu price has recently broken out of a Falling Wedge pattern, a formation commonly recognized as a bullish reversal signal in technical analysis. The pattern is characterized by a downward consolidation with lower highs and lower lows, which eventually leads to a meme coin rally breakout.
Shiba Inu Price Breaks Out of Falling Wedge Formation
According to analyst Bezos Crypto, Shiba Inu price has completed a breakout from a Falling Wedge, a pattern associated with strong upward movements. This formation often indicates a trend reversal, with SHIB price action shifting from a downtrend to an uptrend. In previous instances, similar setups have led to substantial gains for SHIB, fueling optimism among traders and investors.
The breakout is accompanied by a noticeable increase in trading volume, suggesting strong participation from investors. Volume confirmation is a crucial aspect of validating the meme coin rally, as it indicates growing buying interest. If Shiba Inu price maintains its momentum, it could reach the projected price target of $0.00008841, reflecting a 422% increase.
Meanwhile, most recently, SHIB whales have triggered volatility by offloading 2.1 trillion tokens, adding uncertainty to price action. The sudden transaction, valued at $32.55 million, has raised concerns over potential selling pressure.
Bitcoin’s Influence on SHIB and Technical Analysis
More so, Bitcoin price trend, plays a crucial role in determining the trajectory of Shiba Inu price. Historically, altcoins such as SHIB have exhibited strong price movements during Bitcoin’s bullish phases. When Bitcoin consolidates or trends higher, altcoins often benefit from increased market liquidity and positive sentiment.
Similarly, technical indicators further support the bullish outlook, with key metrics pointing toward potential meme coin rally. Awesome Oscillator (AO) analysis shows a shift in momentum, as the histogram bars have transitioned from red to green, indicating a possible trend reversal. AO, which measures market momentum, suggests that selling pressure is fading, and buyers are beginning to gain control.
More so, Moving Average Convergence Divergence (MACD) indicator provides bullish confirmation, as the MACD line has crossed above the signal line, forming a bullish crossover. This crossover is a key signal that momentum is shifting toward buyers, increasing the likelihood of a sustained uptrend.
Additionally, the histogram bars, which represent the difference between the MACD and signal lines, have turned green, reinforcing the strengthening bullish sentiment. If this trend continues, it could indicate a strong upward movement in SHIB price to a new all-time high.
Risk Considerations Ahead of The Meme Coin Rally
While the bullish scenario for Shiba Inu price remains strong, traders remain cautious about potential volatility. Price movements in the cryptocurrency market can be influenced by external factors, including regulatory news, and shifts in investor sentiment. A retracement or a retest of the breakout zone is possible before further upside continuation.
Key resistance levels to monitor include $0.000030, $0.000050, and the previous all-time high near $0.00008841. On the downside, support levels at $0.000020 and $0.000015 could act as critical zones if a pullback occurs.
Moreover, a recent report highlighted that top meme coins like DOGE, SHIB, PEPE, and FLOKI risk declines due to a sharp drop in futures open interest. The data reveals that SHIB’s futures OI fell by 74.41%, while DOGE saw a 58.45% decline, signaling weakening trader confidence.
Ronny Mugendi
Ronny Mugendi is a seasoned crypto journalist with four years of professional experience, having contributed significantly to various media outlets on cryptocurrency trends and technologies. With over 4000 published articles across various media outlets, he aims to inform, educate and introduce more people to the Blockchain and DeFi world. Outside of his journalism career, Ronny enjoys the thrill of bike riding, exploring new trails and landscapes.
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.
Litecoin (LTC) price has showcased an interesting bearish trend after a positive early start to the week. For Litecoin, bears are derailing its growth, suffering a rejection as it attempted to break the resistance level at $130. From the current outlook, Litecoin is the only coin in the top 20 with a negative price action.
Litecoin Price Trend: The Reversal
At the time of writing, LTC price was changing hands for $128.70, down 4.60% in 24 hours. Amid its erratic price action, the coin traded from a low of $126.31 to a high of $136.59. From this daily high figure, LTC has maintained a steady slump before maintaining balance at the current level.
It is not unusual for Litecoin to face roadblocks at the $130 level. In the past 7 days, the coin has only managed to breach this level twice, and each time, it is often accompanied by a sharp drop within 24 hours. The sentiment around Litecoin is high, a trend that suggests the latest drop is a momentary cool-off.
The Bitcoin fork has permanently maintained a positive outlook in the past year. LTC price is up 5.91% in the past 30 days and has maintained a 43.43% surge over the past 3 months. The Year-to-Date (YTD) gain comes in at 22.43%. In an earlier LTC price analysis, the coin jumped over 70% as the broader market suffered intense liquidation.
Litecoin Technicals Shows Rebound is Imminent
The solo Litecoin price reversal creates a new opportunity for the coin. With trading volume dropping by 28.74%, the odds appeared stacked against LTC. However, that ironically sets the coin up for a massive rebound.
The LTC/USDT 4h chart flashes a Relative Strength Index (RSI) of 56, above the neutral range. The coin’s price also trades above the 50-day Moving Average, indicating it is still better off at its current level.
Litecoin’s profitability remains high at over 74%, with approximately 56.75 million LTC in profit. This implies that there is no urgent reason to sell off, proving that the current drawdown came from short-term traders selling.
The Litecoin ETF Advantage
Amid the ongoing selloff, the LTC investors remain optimistic that the coin’s price will sustain its current growth outlook. The potential approval of a spot Litecoin ETF product by the US SEC has fueled its over 5% rally over the past month.
According to earlier reports, Bloomberg ETF Senior Analysts Eric Balchunas and James Seyffart issued 90% approval odds for LTC ETF, which is higher than any of its rivals. This projection, backed by Polymarket forecasts, has helped validate the Litecoin price rally and future outlook.
Godfrey Benjamin
Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.
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.
Amid increasing enthusiasm surrounding the Pi Network, Bybit CEO Ben Zhou labeled it a scam. Clarifying that Bybit has no plans to list the PI token, the Bybit CEO questioned the project’s legitimacy.
Meanwhile, the PI token’s value plummeted by over 55% in a single day, causing alarm among investors. Despite its initial popularity, the token’s downward spiral has raised concerns about its long-term viability.
Pi Network Is a Scam, Says Bybit CEO
Bybit CEO Ben Zhou has publicly voiced his skepticism about the Pi Network’s legitimacy, calling it a scam. In a recent X post, Zhou explicitly stated that Bybit will not list the PI token, reaffirming his doubts about its authenticity. He stated, “I still think you are a scam, and no , Bybit will not list scam.”
Referring to a 2021 warning from the People’s Government of Hengyang, Zhou pointed out that the Chinese Police deemed Pi Network as a scam targeting elderly folks. According to reports, the government has issued a warning against Pi Network’s alleged plans to misuse the public’s personal data to accumulate pension funds. The Bybit CEO added, “There are multiple other reports out there questioning the project legitimacy.”
Bybit Has No Plans to List PI Token
Reiterating his previous stance, Ben Zhou stated that Bybit is not listing the Pi token, due to scam concerns. In a previous post, he dismissed rumors of Bybit listing the Pi token, with a message in Chinese. The post is translated as,
A bunch of people asked me today if I wanted to list Pi. I said, ‘Stop being ridiculous.’ Back when I was trading forex, I was constantly confronted by middle-aged people demanding their hard-earned money back. I really don’t want to deal with that in the crypto space—so I’m keeping my distance. Thanks
In the recent thread, Zhou confirmed that Bybit hasn’t submitted a listing request for the PI token. He reiterated that allegations of PI turning down Bybit’s listing or failing the exchange’s KYB verification process are unfounded. Further questioning the project’s legitimacy, Zhou stated, “If the project is legitimate and straight up, then you should come forth and address these report so everyone can understand , but instead you choose to make up shit and do these childish attack with no ground.”
Notably, Binance is currently conducting a community poll to gauge interest in listing Pi. So far, the majority of voters are in favor of adding the coin to the platform.
PI Plummets: What’s Next?
Despite the initial hype, Pi Network’s PI token has plummeted by a massive 59.58% over the last 24 hours. However, traders remain optimistic about the token which is evident from the staggering 2833% surge in its trading volume.
At press time, the PI token is trading in the red zone, at a price of $0.7806, significantly down from the high of $1.99. However, driven by the initial parabolic uptrend, analysts remain bullish. As per Pi price prediction, the token is poised to hit $300 driven by potential listings by major exchanges.
Nynu V Jamal
Nynu V Jamal is a passionate crypto journalist with three years of experience in blockchain, web3, and fintech spheres. She has established herself as a knowledgeable and engaging voice in the cryptocurrency and blockchain space. Her experience as an Assistant Professor in English Language and Literature has further added to her quest for crafting informative, well-researched, and accessible content.
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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