Altcoin
Can Shiba Inu Price Hit $0.01 Amid Colossal 1 Bln SHIB Token Burn?
Shiba Inu price is much awaited to reach the $0.01 mark, with recent developments igniting optimism toward the monumental feat. Against the backdrop of a staggering 1.1 billion SHIB tokens burn in January and recent ecosystem advancements, market watchers are highly bullish on the dog-themed meme coin. The meme coin’s price currently faces critical resistance at $0.00002, a key barrier to achieving further upside levels.
Shiba Inu Price Brims With Optimism Amid Massive Token Burn
Shiba Inu price’s long-term prospects remain optimistic, primarily attributed to the constant SHIB burns. According to the tracker Shibburn’s statistics, 1.16 billion tokens were burned in the month of January.
This marks a significant 37.52 million coins burnt on average per day. As a result, traders and investors remain bullish on Shiba Inu’s price amid the asset’s reduced supply, mirroring the law of supply and demand.
Weekly Burn Surge Weighs In
Further, the weekly burn rate for the meme coin was up by 2104.39%, highlighting the constant burns dealing a blow to the circulating supply. Notably, 1.13 billion tokens were burnt in the past seven days, aligning with the massive monthly burn.
IS SHIB Price To $0.01 Possible Amid Constant Burns?
At the time of reporting, Shiba Inu price witnessed a drop of nearly 2% and was trading at $0.00001875. Its intraday low and high were $0.00001858 and $0.00001964, respectively. The current price movement confirms the resistance point at $0.00002. Meanwhile, it’s noteworthy that the meme coin briefly topped this level in mid-January. However, the price is currently down 18% MoM.
Nevertheless, a recent SHIB price analysis by CoinGape weighed further optimism in light of the massive burn. Despite the asset’s consolidation, constant supply reduction could aid the token in pushing above $0.00002, even paving the way for a run to $0.01.
However, a $0.01 target remains out of the question for now, as also clarified by the SHIB community’s site. Nevertheless, the meme coin continues to showcase the potential to offer investors remarkable gains.
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.
Crypto analyst CasiTrades has revealed that the XRP price is still at risk of dropping to as low as $1.5. She further mentioned what needs to happen for XRP to avoid dropping to this price target.
XRP Price Could Drop To $1.5 If This Happens
In an X post, CasiTrades revealed that the XRP price could drop to $1.5 if it fails to break and hold above the $2.42 price level. This came as she noted that XRP is attempting to reclaim the consolidation pattern it broke down from.
The crypto analyst further remarked that XRP needs to break and hold the trendline at $2.42 as support to keep the bullish momentum alive. She added that it is very critical for this to happen or a retest of $2 or $1.54 could be in play.
CasiTrades’ analysis comes just as crypto analyst Egrag Crypto predicted that the XRP price could reach $30 by May this year. The analyst alluded to historical trends to prove why the crypto could reach this price target.
Analysis Of The Current Price Action
CasiTrades also gave an in-depth analysis of the current XRP price action. She noted that the crypto has seen a retracement of the move that followed Donald Trump’s announcement that XRP will be included in the crypto strategic reserve. However, the crypto analyst added that the overall market structure remained valid.
CasiTrades also stated that XRP held above W1 territory and did not make a new low. She remarked that the bigger picture still supports a wave 4 correction playing out, targeting a new high.
Meanwhile, the crypto analyst revealed that bullish divergences across timeframes are still intact and that the Relative Strength Index (RSI) is maintaining its uptrend from the $2 low. In line with this, CasiTrades stated that the next upside targets are $2.70 and $3.05. She noted that these are crucial levels before market participants can consider talking about new all-time highs (ATHs) for the XRP price.
In the meantime, if XRP fails to hold above $2.42, CasiTrades stated that the crypto could see a test of $2.20, which is a key subwave support level. A deeper retracement could take XRP back towards $2 or $1.54 if sellers take control. However, the crypto analyst said that she is still favoring the bullish scenario until there is a clear invalidation.
According to CasiTrades, the market is looking for buyer confirmation and this $2.42 level will decide if the XRP price moves higher from here of if there is need for more correction.
Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across DeFi, NFTs, smart contracts, and blockchain interoperability, among others. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover and a part-time degen.
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.
Ethereum price briefly dipped under $2,000 for the first time in over a year as on-chain data points to a gloomy future. Pundits say Ethereum could be on a death march toward $1,000 in a steep decline that has left speculators scratching their heads.
Ethereum Price Could Be Headed To $1,000
Ethereum (ETH) woes appear to be worsening following a dip in prices below $2,000 since December 2023. Ethereum price touched $1,996 before staging a valiant climb back to $2,135, triggering concerns over its future direction.
On-chain data is grim for the largest altcoin with several indicators pointing toward a downward trend. Ethereum’s weekly RSI is at its lowest ebb for the first time since 2022 at 35.84. Similar RSI levels in 2022 saw the asset price fall even further by a staggering -60%.
Analysts say that the Ethereum price could fall to $1,000 given similar market conditions in 2022. The slip below $2000 follows an earlier dip below $2,200, leaving its parallel channel which experts say could induce correction to $1,600.
Ethereum’s triple-top pattern in its weekly chart is indicative of a 60% decline as bears have a field day. A 60% decline at current levels will see Ethereum price dip below the $1,000 mark.
Ethereum Is On Course To Record Its Worst Q1
The largest altcoin has endured a wave of negative sentiments since the start of 2025. Ethereum price has fallen by nearly 40% from its high of $3,300 at the start of the year.
A drop to $1,600 will see Ethereum record its worst Q1 performance, dwarfing the lows of the first quarter of 2024. US Ethereum ETFs recorded massive outflows while ETHA share price shed 38.59% since the start of the year.
While institutional interest around ETH sinks, the asset’s proposed inclusion into the US Crypto Strategic Reserve did little to stave off the massive decline. Despite the grim outlook, some pundits say the decline presents a buying opportunity for long-term investors.
“We are going into the undervaluation zone,” said the pseudonymous Venturefounder on X (formerly Twitter).
Aliyu Pokima
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.
US President Donald Trump’s decision to adopt Bitcoin, XRP, Solana (SOL), and Cardano (ADA) has sparked widespread optimism. However, the community remains ambiguous on the potential composition and management of the US crypto reserve. Farcaster co-founder Dan Romero’s recent predictions offer a glimpse into the utilization of crypto reserves and the potential roles of XRP and ADA.
US Crypto Reserve Management: Key Insights
Amid escalating ambiguity regarding the United States’ cryptocurrency reserve, Dan Romero, co-founder of Farcaster, has offered predictions regarding the government’s prospective plans.
In a recent X post, the Farcaster founder stated that Donald Trump’s government would retain seized assets rather than making new crypto purchases. This suggests that the administration is unlikely to invest in cryptocurrencies, despite its ambitious reserve plans.
Unveiling the Future of US Crypto Reserve: Roles of Bitcoin, XRP & ADA
According to the Farcaster founder’s predictions, Bitcoin will dominate the US crypto reserves. Possibly, Bitcoin will comprise about 80% of the government’s crypto holdings. This may be because of Bitcoin’s market dominance, widespread adoption, and global acceptance.
Notably, Trump’s crypto reserve announcement sparked widespread enthusiasm, particularly regarding Bitcoin’s potential role in the reserve. For instance, Gemini co-founder Cameron Winklevoss stated, “Bitcoin is the only asset that meets the bar for a store of value reserve asset.”
Meanwhile, the Farcaster founder highlighted the possibility of the Trump government including XRP and ADA in the crypto reserves through in-kind tax payments or quasi-donations. This implies Ripple and Cardano’s possible ways of collaborating with the government.
Inclusion of XRP & ADA Met with Skepticism
Despite the optimism surrounding the government’s Bitcoin reserve strategy, the inclusion of XRP and ADA has been met with skepticism. Gemini co-founder Taylor Winklevoss shared his disagreement with Trump’s choice of XRP, Solana, and Cardano. He stated,
I have nothing against XRP, SOL, or ADA but I do not think they are suitable for a Strategic Reserve. Only one digital asset in the world right now meets the bar and that digital asset is bitcoin.
Similarly, economist Peter Schiff questioned the government’s decision to include XRP, SOL, and ADA in the US crypto reserve. Though he initially seemed to endorse the Bitcoin reserve, later he retracted his support, accusing BTC proponents of disseminating misinformation.
XRP Proponents Celebrate Trump’s US Crypto Reserve Strategy
Though a portion of the community is against the XRP reserve, proponents celebrate the move. “XRP is great technology, a global standard, survived for a decade through many harsh cycles, and has one of the strongest communities. I think the president made the right decision,” stated Cardano founder Charles Hoskinson.
Ripple CEO Brad Garlinghouse hailed the development a major signal for the industry’s progress. In response to Trump’s announcement, Garlinghouse stated, “Happy to see that the President of the United States recognizes that we live in a multichain world.”
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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