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Is Shiba Inu Coin Price Set for 2021-Like Parabolic Rally to $1?

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Against the backdrop of bullish market dynamics, Shiba Inu coin has once again nabbed considerable investor attention as the week closes. Notably, SHIB price remains poised for a 2021-like parabolic rally ahead, primarily attributable to recent ecosystem developments. While the SHIB burn mechanism continues to drastically shred the token supply, rising Shibarium activity, and the latest ecosystem developments have brought significant market optimism toward the crypto.

Market watchers speculate whether the dog-themed meme token is ready for a 2021-like parabolic rally, with a potential $1 price target looming over the horizon.

Shiba Inu Coin Burn Rockets Amid Rising Shibarium Activity

Notably, this week proves highly optimistic for the Shiba Inu coin, as Shibburn data on X indicated a 920% surge in the weekly token burn rate. With 320 million coins burnt in the past seven days, the coin’s market supply took a considerable hit. At press time, the total supply was recorded as 589.26 trillion SHIB.

Simultaneously, it’s also worth mentioning that the intraday burn data by Shibburn showed a 367% surge, with 11 million coins destroyed. Altogether, the massive burning chronicle has prompted bullish market sentiments for the coin, mirroring the law of supply and demand.

Additionally, SHIB marketing lead Lucie took to X on October 19, highlighting a remarkable surge in Shibarium activity. As per Lucie, new transactions on the network neared the 30K mark, whereas the number of contracts also topped the 18.2K mark in October from 17.8K in late September. This surge underscores remarkable growth for the Shiba Inu Layer 2 blockchain.

Overall, recent stats, underlining bullish metrics, have reverberated optimism for the leading dog-themed meme coin across the globe.

Is 2021-Like Parabolic Rally to $1 Possible?

Meanwhile, it’s worth noting that in 2021, Shiba Inu price saw an extraordinary surge of 45000% between January and May. After a notable correction, the coin price offered another 1500% jump to mark an all-time high of $0.00008845 in October. Crypto market enthusiasts speculate whether a similar rally is possible this year in light of recent market events.

At the time of reporting, SHIB price traded at $0.00001936, up nearly 3% intraday. The coin’s intraday low and high were recorded as $0.00001851 and $0.00001948, respectively. The meme coin’s rising trajectory falls in line with the abovementioned burn rate surge and Shibarium growth. Further, Coinglass data indicated a 5% increase in SHIB’s futures OI to $63 million today, underlining increased investor interest in the asset. This has further sparked optimism about the coin’s future action.

Simultaneously, a recent SHIB price analysis by CoinGape Media reveals that the crypto could hit $1 ahead in light of the broader meme coin sector frenzy and SHIB ecosystem developments. Notably, the upcoming Shib DAO Foundation launch, among many other developments, hints that a potential $1 price target for the Shiba Inu coin lies ahead.

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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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Expert Predicts Massive Upshoot For XRP Price To $5, Shiba Inu Price To $0.0008, ETFSwap Price From $0.03846 To $8

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DeFi ecosystem expert has given an eye-opening investment alert that could help you make millions of dollars if you take early action. This expert has predicted the ETFSwap (ETFS) price to make a meteoric 20,700% rally from its current presale price of $0.03846 to $8 in the coming crypto market cycles. Alongside the ETFSwap price, this reliable DeFi expert has also predicted the XRP price to experience a massive upshoot to $5 and the Shiba Inu price to hit $0.0008 in millionaire-making rallies. Consequently, investment experts have nudged whale and retail investors alike to take advantage of the floor levels of the ETFSwap price, the Shiba Inu price, and the XRP price to make maximum gains. 

ETFSwap (ETFS) To Rally 20,700% To $8 — Set To Make Crypto Millionaires

A leading DeFi ecosystem expert has predicted a market-leading rally for the ETFSwap price as its tokenized ETF solution is taking over the DeFi world. This expert expects the ETFSwap price to hit $8 in a meteoric 20,700% rally that would make lots of crypto millionaires. The ETFSwap (ETFS) ecosystem has created the premier sets of ERC20 ETF tokens to onboard high-liquid real-world assets (RWAs) on-chain for trading positions of up to 100x multiplier. With this solution, traditional investors can now invest on the blockchain, using both spot/futures crypto ETFs and commodity ETF offerings. The ETFSwap (ETFS) ecosystem also advances a custom fixed-income offering in the form of reliable and high-liquid securities, bonds, and treasuries for reliable profits and reduced volatility.

More so, the ETFSwap (ETFS) team is prioritizing user-centric experience which is why its trade-to-earn ETFS token is powering a smooth swap mechanism for multiple ETF assets across multiple markets. To make it all better, this swap mechanism operates at very low costs to make sure traders maximize their profit positions. For more compounded profit, the SolidProof-audited ETFSwap (ETFS) team members have advanced a perpetual futures and options model for traders to enter multiple long and short positions over 50x multipliers. 

The ETFSwap (ETFS) ecosystem uses financial derivatives and significant leverages to amplify the returns of an underlying index by up to 100 times. More so, the exchange-traded fund (ETF) market is now getting widespread adoption in the crypto market with the approval of spot Bitcoin and Ethereum ETFs, and the ETFSwap (ETFS) ecosystem is primed to benefit maximally from institutional liquidity. The developments and next-level innovation of the ETFSwap (ETFS) ecosystem are pivotal in broadening the range of exchange-traded funds, introducing new asset classes, and diversifying underlying assets, all powered by the ETFS token. 

With the beta launch of the ETFSwap (ETFS) platform just weeks away, DeFi stakeholders and investors are eagerly awaiting the launch of powerful features, including staking your tokens for rewards, access to various liquidity pools, a live ETF price tracker to stay updated in real-time, buying and selling of popular ETFs.

Little wonder experts say that the ETFSwap price is bound to rally a meteoric 20,700% in the upcoming market cycles as major market makers move to adopt its ecosystem. With $7 million raised, major investors are moving fast to take advantage of the $0.03846 ETFSwap price before it begins the upward trajectory. Hurry and join the ETFSwap (ETFS) presale now before the opportunity for life-changing wealth is gone. 

XRP Price To Make The Upshoot To $5

After retracing from the price dips that saw the XRP price crash about 20%, price action and DeFi ecosystem experts say that a major upshoot for the XRP price to touch $5 is on. Following the Ripple ecosystem’s cross-appeal against the U.S. SEC, the XRP price has picked up bullish momentum in the past week, triggering accumulated buys from spot Ripple (XRP) buyers.

With the XRP price now trading above the upside of $0.5, the sentiment in the Ripple (XRP) ecosystem is now bullish as DeFi analysts say that if the Ripple ecosystem wins its lingering legal battle, the XRP price could be set for a meteoric rally to $5. 

Shiba Inu Price To Follow The Bullish Trend

Just like the XRP price, the Shiba Inu price has been tipped to rally to hit a new all-time high of $0.0008 in the coming market cycle. Within the past two weeks, the Shiba Inu price has witnessed sustained liquidity inflows as the trading volume surged 58%. This bullish traction has seen the sentiment of the Shiba Inu community go positive again as spot SHIB buyers accumulate more tokens to drive the Shiba Inu price above major support levels. Hence, price action analysts say that with spot buy activity sustained, the Shiba Inu price will rally to $0.0008 in the upcoming market cycle. You might want to invest in the floor level of the Shiba Inu price now to supplement your major holdings in ETFSwap (ETFS). 

Conclusion 

The bullish season is over, and ETFSwap (ETFS) is at the forefront with its native ETFS token primed for a meteoric 20,700% surge. Now is the time to position yourself for this life-changing opportunity by buying into the $0.03846 ETFSwap price before the presale ends. 

For more information about the ETFS Presale:

Visit ETFSwap Presale

Join The ETFSwap Community

 



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Anatoly Yakovenko Explains The “Fundamental” Difference Between Solana And Ethereum

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Anatoly Yakovenko, Solana’s co-founder, recently pointed to a deep divergence in how Solana and Ethereum see resource satiation and price discovery.

He explained that once a global resource becomes saturated on Solana, the current pricing mechanisms begin to be suboptimal. While Solana’s implementation of congestion is much more elegant than most cryptocurrencies, Yakovenko clarified that the hardware underneath still needs to scale to handle the new demand efficiently.

The discussion of Ethereum and Solana has kept individual investors salivating and institutions champing at the bit. While generally doing much better than its sister cryptocurrency Ethereum on many performance metrics, one very important question that begs for an answer is: Why hasn’t the institutional adoption of Solana taken center stage over Ethereum yet?

Solana’s Yakovenko Challenges Ethereum’s Scaling Model

Anatoly Yakovenko, one of Solana’s founders, recently outlined an essential difference in vision between Solana and Ethereum regarding resource saturation and price discovery.

He made the critical point that if some global resource on Solana becomes saturated, the current pricing mechanisms do not work as expected. In other words, while Solana may have a rather elegant way of dealing with congestion compared to many other cryptocurrencies, Anatoly Yakovenko said the hardware has got to scale to handle the new demand.

If demand cannot be satisfied by allowing validators to scale up their hardware capacities, the system will fail. He mentions that only local contention—issues that cannot be mitigated—should actually influence user fees. This point of view highlights Solana’s focus on scaling and efficiency regarding network congestion versus Ethereum’s approach.

With the increase in Solana price agrees Macro Researcher Axel Adler Jr. who recently said SOL could benefit from the overall positive market sentiment expected post-halving.

Recently, Orderly Network announced via social media its integration with Solana, marking a significant milestone as it becomes the first full-chain order book platform to support both Ethereum Virtual Machine (EVM) and non-EVM ecosystems. This integration allows users across different public chains to trade perpetual contracts using Orderly Network’s unified cross-chain shared order book, enhancing trading capabilities and accessibility.

The move is seen as a strategic effort to broaden the user base and liquidity options for traders in the Solana ecosystem.

Energy Consumption Key to Bitcoin vs. Ethereum Battle

Just recently, Anatoly Yakovenko drew everybody’s attention by comparing the discourse between Ethereum and Bitcoin. He put these two giants on the same scale, especially considering energy consumption and capital expenditure. In that discussion, he told everybody how Ethereum and Bitcoin resemble each other, yet their energy uses cause significant differences in the cost structure.

According to him, Bitcoin works on the Proof-of-Work model and, therefore, requires enormous energy because of the miners’ computational powers. By contrast, Ethereum moved to a Proof-of-Stake model, drastically reducing its energy consumption and thus essentially reducing capital expenditures.

In response to users’ questions about Ethereum’s potential to reach a higher market value than the leading cryptocurrency, Anatoly Yakovenko also said, “If it turns out that Ethereum is adopting more slowly than Bitcoin, then perhaps expected price growth could be unjustified.” Ethereum remains the largest decentralized smart contract platform. However, it has not seen the same real-world adoption or dramatic increase in price as Bitcoin, especially in recent times when macroeconomic conditions began to change.

Analysts are expecting SOL price to nearly 10x from the current level and hit the triple-digit territory and they say there are 3 reasons why SOL has overtaken ETH.

Contrary to expectations after the transition of Ethereum to PoS, the price performance was somewhat lagging compared with Bitcoin. This raised discussions within the community concerning further price developments and the competitive viability of Ethereum and Bitcoin. Such a discussion would underpin the nature of competition in the cryptocurrency space as regards sustainability and investment viability.

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Teuta

Teuta is a seasoned writer and editor with over 15 years of experience in macroeconomics, technology, and the cryptocurrency and blockchain industries. Starting her career in 2005 as a lifestyle writer for Cosmopolitan in Croatia, she expanded into covering business and economy for several esteemed publications like Forbes and Bloomberg. Influenced by figures like Don Tapscott and Bruce Dickinson, Teuta embraced the blockchain revolution, believing crypto to be one of humanity’s most crucial inventions. Her fintech involvement began in 2014, focusing on crypto, blockchain, NFTs, and Web3. Known for her excellent teamwork and communication skills, Teuta holds a double MA in Political Science and Law, enjoys punk rock, chablis, and has a passion for shoes.

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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Crypto Analysts Shift Altcoin Focus as Bitcoin Hovers at $68,000

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Crypto analysts are looking at certain altcoins in a proactive attempt to position their portfolios strategically. The rebalancing comes as Bitcoin (BTC) hovers around $68,000.

Typically, bullish sentiment in the Bitcoin market spills over to altcoins as capital rotates to smaller tokens with smaller market capitalizations.

Analysts Identify Top Altcoins Picks For Q4

Miles Deutscher, a popular crypto analyst, positions his portfolio with altcoins from select market sectors. He reveals a balanced blend of AI-focused projects and long-term meme coin holdings. These come as the analyst aims to capitalize on the technical and fundamental strengths of the following digital assets, among others.

Deutscher views Bittensor (TAO) as a leader in the AI cryptocurrency space, positioning it as his top holding for this cycle. He explains that TAO has been a high performer in his portfolio, driven by its AI infrastructure, which has garnered significant attention.

Another key asset in Deutscher’s portfolio is NEAR Protocol (NEAR), one of the leading Layer-1 (L1) blockchains for AI. While TAO leads the AI infrastructure sector, NEAR is positioned as the primary AI L1 solution, making it integral to the broader investment thesis. Additionally, according to Deutscher, NEAR’s growing prominence in the AI space makes it a compelling addition for those looking to diversify within the AI crypto niche.

Finally, Deutscher highlights Aethir (ATH) as another significant part of his portfolio among lower-cap assets. He emphasizes that while AI coins have been widely discussed, the market has yet to experience a full-fledged “AI season,” meaning many of these assets remain undervalued.

Read more: Top 9 Artificial Intelligence (AI) Cryptocurrencies in 2024

In his view, Aethir has the potential for explosive growth once the AI narrative gains more momentum. For now, he advises cautious accumulation on dips, with the understanding that significant gains could be realized once AI coins become more widely adopted.

Dogecoin For High-Risk, High-Reward Plays

Deutscher also included Dogecoin (DOGE) in his altcoin strategy for Q4. The meme coin, already up 25%, has shown strong performance driven by speculation around Donald Trump’s potential presidential run in 2024. Additionally, crypto influencer Andrew Kang’s endorsement has further bolstered market confidence in DOGE as a viable speculative trade.

“One of the most interesting ways to express a “Trump Victory” trade would probably be owning DOGE (and other memes) Not only do you have high odds of a Doge ETF but the Department of Government Efficiency (DOGE) would be making headlines every week and be pushed forward by Trump,” Kang noted.

While DOGE remains a high-risk play, Deutscher sees potential in its ability to capture market enthusiasm during periods of heightened speculation. He suggests that those looking for shorter-term gains could consider Dogecoin, though he cautions that it should not make up a large portion of an investor’s portfolio.

DOGE Price Performance
DOGE Price Performance. Source: BeInCrypto

BeInCrypto data shows that DOGE is trading for $0.1338 as of this writing, up by almost 10% since the Friday session opened.

Taking Profits and Rotating Back to Bitcoin

Beyond these primary plays, another popular analyst, Michaël van de Poppe, draws attention to a range of other projects. He highlights the need to take profits and rotate them back to Bitcoin.

Michael argues that older altcoins that performed well in previous cycles may not replicate their past success. With this, he points traders and investors to altcoins in their early stages but with the potential for greater returns.

Advising calculated risks by focusing on emerging projects, the analyst highlights Renzo (REZ), which recently entered the Solana ecosystem. Other mentions include Omni Network (OMNI) and Rocket Pool (RPL), among others.

Michael van de Poppe recommends monitoring for upward trends and taking profits when an altcoin’s price approaches its previous high. Once profits are taken, he advises reallocating into Bitcoin and Ethereum or stablecoins, depending on the market’s condition. This strategy, according to Michael, allows investors to protect gains while preparing for future corrections.

Read more: 12 Best Altcoin Exchanges for Crypto Trading in October 2024

The analyst also encourages an overreaching strategy, compounding returns through newer altcoins while gradually moving profits into safer, more established assets like Bitcoin and Ethereum. This approach, he says, positions investors to maximize returns while managing risks in a volatile market.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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