Altcoin
Shiba Inu and Dogecoin Prices To See Sharp Rally in June?
As the cryptocurrency market kicks off June, all eyes are on meme coins Shiba Inu and Dogecoin, which have captivated the attention of both investors and enthusiasts. Known for their volatile price movements and vibrant communities, these digital assets often experience significant rallies and dips. With the start of a new month, speculation is rife about whether Shiba Inu and Dogecoin will see a sharp rally in June.
Various factors, including market sentiment, recent developments, and broader economic trends, could play crucial roles in shaping their prices. In this article, we explore the potential catalysts and market dynamics that might drive Shiba Inu and Dogecoin to new heights in the coming weeks. Investors have recently turned their attention to coins in the meme coin domain. The factors driving this move hinge on the ability of digital assets to achieve between 10x and 100x returns within a short period.
Shiba Inu (SHIB) Analysis
The price of Shiba Inu (SHIB) is $0.00002531 today with a 24-hour trading volume of $273,904,355.90. This represents a 1.03% price increase in the last 24 hours and a 2.17% price increase in the past 7 days. With a circulating supply of 590 trillion SHIB, Shiba Inu is valued at a market cap of $14,910,662,307. SHIB price is currently in an ascending triangle and almost at the end. The Open Interest of Shiba Inu (SHIB) has nosedived 3.58% with a valuation of $59.4 Million.
Ascending triangles show investors’ interest and accumulation as the highs remain relatively flat with lows rising higher. If the market structure holds, Shiba Inu may break out on the upside and rally 32% to around $0.000036. Nevertheless, investors remain confident in Shiba Inu, as Coingecko stats show 72% of users are bullish against 28% who are bearish. On its way up, the SHIB price may encounter several key resistance points around $0.000029, $0.000036, and $0.000041.
Conversely, a heavy support structure has formed around the current price level ($0.000025) that may hold up the price. Shiba Inu’s price fundamentals are strong as the meme coin rides in favor of its huge community. Coinbase Futures recently announced support for SHIB perpetual futures, with trading beginning on May 30, 2024. Despite the meme origins of the cryptocurrency, Shiba Inu has established itself as a resilient crypto project in the face of market volatility.
Also Read: Pepe Coin Price Dips As Whale Continues Dumping PEPE, What’s Next?
Dogecoin (DOGE) Analysis
The price of Dogecoin (DOGE) is $0.1598 today with a 24-hour trading volume of $542,675,879.61. This represents a 2.52% price increase in the last 24 hours and a -4.31% price decline in the past 7 days. With a circulating supply of 140 billion DOGE, Dogecoin is valued at a market cap of $23,101,130,581. Dogecoin price reached a daily timeframe peak of $0.16 on June 1. The Open Interest of Dogecoin (DOGE) has surged 0.28% with a valuation of $791.2 Million.
But drawing insights from the miners’ $208 million haul in May 2024, DOGE price could be on the verge of a 30% rebound above the $0.20 milestone in the days ahead. Further affirming this bullish stance, IntoTheBlock’s GIOM data shows that Dogecoin’s next major resistance cluster lies at the $0.18 level.
As seen in the chart above, 761,310 holders had acquired 13.5 billion DOGE at an average price of $0.179. If the majority of those holders opt to take early profits, Dogecoin price could struggle to break out of that resistance cluster. DOGE bulls had nullified the selling pressure with price exchanging hands at $0.1609, a 0.93% surge from the intra-day low. If the bearish momentum persists and the intra-day low of $0.1549 does not hold, the next support levels to watch would be around $0.152 and $0.150.
However, if the bulls recoup market control and breach the intra-day high of $0.1616, the next resistance levels to monitor would be at $0.163 and $0.165. On the DOGEUSD price chart, the Relative Strength Index (RSI) rating of 56.83 suggests that the market is neutral. However, a bearish divergence may be building up since the RSI is moving below its signal line. If the RSI falls into the oversold region, the adverse trend may be expected to continue.
The tightening Bollinger bands, with the upper, middle, and lower bands touching at $0.17543, $0.159, and $0.144, respectively, suggest decreasing volatility, which precedes bearish pressure. However, with the price action developing above the signal line, bullish momentum may be building up for a breakout. Moreover, according to the inverse head and shoulder, a breakout may set DOGE in a bull rally targeting $0.22.
Also Read: El Salvador President Nayib Bukele Begins Second Term to Lead Bitcoin Adoption
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 inflows hit $226 million last week, signaling a cautiously optimistic investor sentiment amid ongoing market volatility.
According to CoinShares data, altcoins broke a five-week streak of negative flows, recording their first inflows in over a month.
Crypto Inflows Hit $226 Million Last Week
This turnout marks a significant slowdown from the previous week when crypto inflows hit $644 million, ending a five-week outflow streak. Before that, inflows peaked at $1.3 billion, with Ethereum outpacing Bitcoin in investor demand.
“Digital asset investment products saw $226 million of inflows last week suggesting a positive but cautious investor,” read an excerpt in the report.
The pullback to $226 million last week suggests a more measured approach by investors as they assess macroeconomic conditions and regulatory uncertainties.
Specifically, CoinShares’ researcher James Butterfill ascribes Friday’s minor outflows of $74 million to core personal consumption expenditure (PCE) in the US, which came in above expectations.
“The Fed’s preferred measure of inflation (Core PCE) moved up to 2.8% in February & remains well above their 2% target that has yet to be achieved. The market is expecting the Fed to hold rates steady again at their next meeting on May 7 (at 4.25-4.50%),” investor Charlie Bilello noted.
Nevertheless, this turnaround comes after nine consecutive trading days of inflows into crypto ETPs (exchange-traded products).
Despite the slowdown, Bitcoin continued to attract strong inflows of $195 million. Meanwhile, short-Bitcoin products registered outflows of $2.5 million for the fourth consecutive week. This suggests that investors are leaning bullish on Bitcoin, even as altcoins begin to recover.
The CoinShares report shows that altcoins saw $33 million in inflows last week after suffering $1.7 billion in outflows over the past month.
Altcoins Rebound After $1.7 Billion in Outflows
Ethereum (ETH) led the recovery, attracting $14.5 million, then Solana (SOL) at $7.8 million, while XRP and Sui recorded $4.8 million and $4.0 million, respectively. Market analysts believe altcoins may be bottoming out, creating potential buying opportunities.
“Altcoins are oversold. The bottom is close. We’re ready for a bounce,” renowned analyst Crypto Rover highlighted.
Other analysts echoed the sentiment, suggesting growing attention toward altcoins. Among them was trader Thomas Kralow, who said, “altcoins are setting up for a comeback.”
Adding credence to this bullish outlook for altcoins, project researcher BitcoinHabebe, known for insightful mid-low cap sniper entries, pointed to technical indicators suggesting a market reversal.
“While bears are trying to spread fear & make you sell your altcoins, the TOTAL3 [Altcoins market cap chart excluding Bitcoin and Ethereum] just bounced off an HTF [higher timeframe] retest,” the analyst stated.
This means most coins have bottomed out and are expected to start reversing soon. Cole Garner noted a key buy signal in market liquidity metrics, further supporting this view.
“Tether Ratio Channel already flashed a double buy signal this month. Now my lower timeframe version is popping off. Fresh capital incoming,” he indicated.
The Tether Ratio Channel is an on-chain analytical tool that helps traders identify potential buy signals. It tracks the ratio of Bitcoin’s market capitalization to that of stablecoins, acting as a leading indicator for short- to medium-term trends.
When the ratio hits certain levels, it can signal shifts in market sentiment, often indicating whether fresh capital is entering or exiting the market.
While overall crypto inflows have slowed compared to previous weeks, the return of capital into altcoins suggests renewed investor confidence. Analysts see signs of an impending altcoin rally, with market metrics indicating that most coins have bottomed out.
As investors weigh macroeconomic uncertainties, the coming weeks could be critical in determining whether the altcoin recovery sustains momentum or if caution prevails.
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 Conditions, Privacy Policy, and Disclaimers have been updated.
Cardano price is repeating a pattern from 2024 that experts say is a signal for a massive pump in the coming weeks. While present figures are largely underwhelming for ADA, investors are brimming with confidence for a strong reversal in the near future.
Cardano Price Can Reach $2.5 In May
According to pseudonymous cryptocurrency analyst Master Kenobi, Cardano price is exhibiting cyclical behavior. In a post on X, Master Kenobi notes that ADA’s consolidation in recent days mirrors its price action from Q3 of 2024.
At the time, Cardano’s price suffered a steep correction in early August and endured a lengthy consolidation period before rallying. Presently, Cardano’s price is consolidating after the deep in early February that sent prices to $0.49.
“ADA is currently in a consolidation phase that resembles its behavior from August-September 2024,” said Master Kenobi. “Since the dip on August 5, it hasn’t recorded a new low – just as it hasn’t now, following the dip on February 3.”
According to Master Kenobi, a lengthy consolidation phase will be the precursor for an impressive rally for Cardano’s price. The analyst theorizes that the incoming rally will send Cardano to impressive levels in May. In the short term, analysts are eyeing ADA to hit $1, citing rising whale activity and positive fundamentals.
“If this pattern holds, May could bring a massive pump, potentially pushing the price toward $2.5,” said Master Kenobi.
ADA Ripples With Bullish Activity
At the moment, Cardano price is trading at $0.6646, a far cry from its all-time high of $3.10. Despite the lull in price action, the ecosystem is brimming with bullish activity for higher valuation.
Investors have their eyes on $10 after ADA outperformed top S&P 500 companies in a strong show of resilience. Futhermore, increased whale activity in the space is signaling an impending rally for ADA as community sentiment reaches an all-time high.
Analysts have opined that an ADA rally to $10 is not a crazy prediction, citing a slew of positive fundamentals for the network. However, pundits are urging investors to brace for multiple corrections in the march to reach a valuation of $10.
Aliyu Pokima
Aliyu Pokima is a seasoned cryptocurrency and emerging technologies journalist with a knack for covering needle-moving stories in the space. Aliyu delivers breaking news stories, regulatory updates, and insightful analysis with depth and precision. When he’s not poring over charts or following leads, Aliyu enjoys playing the bass guitar, lifting weights and running marathons.
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 Egrag Crypto has again provided a bullish outlook for the XRP price. This time, he alluded to historical trends to explain why the altcoin can hit a new all-time high (ATH) in 90 to 120 days.
Why The XRP Price Can Hit ATH In 90 To 120 Days
In an X post, Egrag Crypto alluded to historical patterns to explain why the XRP price can hit a new ATH in the next 90 to 120 days. He noted that the RSI chart shows important historical patterns and stated that the altcoin usually has two peaks during its bull runs.
The crypto analyst further revealed that in 2021, the second peak occurred after 90 days, while in 2017, it occurred after 120 days. Based on this, Egrag Crypto affirmed that this historical timeframe provides market participants with a potential for a “great opportunity,” hinting at the altcoin hitting a new ATH.
In another post, he raised the possibility of the XRP price reaching a new ATH of $3.9 by May. This came as he identified an Inverse Head and Shoulder pattern, which was forming for the altcoin. The crypto analyst stated that the measured move is $3.7 to $3.9.
For now, an XRP analysis has shown that the altcoin is struggling at $2.15 amid regulatory uncertainty over SEC Chair nominee Paul Atkins. In his update on this Inverse Head and Shoulder pattern, Egrag Crypto remarked that a close above $2.24, the Fib 0.888, is the next minor target. He affirmed that the pattern is still unfolding as anticipated.
Ripple’s Native Token Could Still Drop Below $2
Crypto analyst Dark Defender has predicted that the XRP price could still drop below $2 before the next leg up. In an X post, he stated that Ripple’s native token is in the 4th Wave of the Monthly Elliott Wave structure.
His accompanying chart showed that XRP could drop to as low as $1.88 on this Wave 4 corrective move. Once that is done, the altcoin will witness its next leg up, rallying to as high as $5.8, which would mark a new ATH.
Dark Defender assured that Wave 4 will end soon and that XRP will continue to reach its targets. The crypto analyst recently affirmed that the altcoin is the “one” and explained why it would dominate Bitcoin and Ethereum.
Crypto analyst CasiTrades also suggested that XRP could further decline before its next leg to the upside. She noted that after the drop to $2.27, the altcoin showed no bullish RSI divergence, which signaled that the drop wasn’t quite done yet.
She added that the coin is now likely heading down to test the 0.618 golden retracement at $2.17, or possibly the golden pocket at $2.15 for a final low before “lift-off.” However, CasiTrades also mentioned that RSI is starting to build the bullish divergence and that the selling pressure is exhausting.
Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across several topics and niches. 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, a traveler 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.
3 Altcoins to Watch in the First Week of April 2025
BTC Price Rebound Likely as Long-Term Holders Reenter Market
Ethereum To $20K? Investor Says Real-World Adoption Is The Key
$33 Million Inflows Signal Market Bounce
Top Crypto Airdrops to Watch in the First Week of April
Strategic Move for Trump Family in Crypto
2.52 Million Altcoins Are Ruining Crypto’s Future
Animoca Brands Valuation Tanks 75% In Two Years, Here’s Why
Crypto exchange BingX hacked for $43 million
Are The Big Players Losing Interest?
Hong Kong’s Securities Association Tips Authorities On Crypto Self-Regulation
Coinbase cbBTC Set to go Live on Solana
2.52 Million Altcoins Are Ruining Crypto’s Future
Animoca Brands Valuation Tanks 75% In Two Years, Here’s Why
Crypto exchange BingX hacked for $43 million
Are The Big Players Losing Interest?
Hong Kong’s Securities Association Tips Authorities On Crypto Self-Regulation
Coinbase cbBTC Set to go Live on Solana
-
Regulation21 hours agoJapan Set To Classify Cryptocurrencies As Financial Products, Here’s All
-
Market24 hours ago3 Token Unlocks for April: Parcl, deBridge, Scroll
-
Market21 hours agoTop 3 Made in USA Coins to Watch This Week
-
Market20 hours agoSolana (SOL) Price Risks Dip Below $110 as Bears Gain Control
✓ Share: