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Shiba Inu and Dogecoin Prices To See Sharp Rally in June?

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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

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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.

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 Reveals Why BlackRock Hasn’t Pushed for an XRP ETF

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With Ripple’s XRP lawsuit settlement finally in place, the crypto community is abuzz with anticipation over a possible XRP ETF launch. Despite the growing frenzy over XRP exchange-traded funds, the world’s largest asset management company, BlackRock, remains silent, sparking significant attention.

Detailing BlackRock’s vision and possible reasons behind its silence, expert All Things XRP shared a series of X posts. Let’s explore the expert’s threads, reading through the key points that shed light on BlackRock’s strategic approach to crypto investments.

Why Is BlackRock Silent on XRP ETF?

In a series of X posts, expert All Things XRP shed light on BlackRock’s strategic moves that steer them away from an XRP ETF. According to the expert, BlackRock’s hesitation to launch an XRP exchange-traded fund is driven by many factors regulatory concerns, market dynamics, and strategic considerations.

BlackRock Focuses on Bitcoin and Ethereum

Notably, the asset manager’s focus on Bitcoin and Ethereum ETFs is one of the main reasons to shy away from XRP. BlackRock is currently riding the wave of success with Bitcoin and Ethereum.

Reportedly, iShares Bitcoin Trust boasts over $30 billion in Assets Under Management (AUM). In addition, BlackRock’s ETH ETF has reached $1 billion in AUM in just two months. In light of this success, the platform is cautious about exploring other altcoins to mitigate potential risks.

Moreover, XRP may not meet BlackRock’s internal thresholds for demand, liquidity, and legal clarity. According to the company’s ETF executives, only Bitcoin and Ethereum currently meet these requirements.

Regulatory Concerns

As noted by the expert, regulatory concerns play a major role in BlackRock’s hesitation to back Ripple. Although both Ripple and the SEC dropped their appeals in the XRP lawsuit, the case is not officially over, with the label of “security” still lingering around.  This uncertainty may deter the investment giant from applying for an XRP ETF.

Recently, All Things XRP shared insights on CEO Brad Garlinghouse’s crucial role in Ripple’s growth.

BlackRock’s Strategic Wait-and-See Approach

Interestingly, BlackRock is adopting a cautious approach, waiting for competitors like Grayscale and Franklin Templeton to launch their XRP ETFs. While these platforms will face the possible regulatory hurdles first, it will pave the way for BlackRock’s easy entry into the ETF space. This approach will also allow BlackRock to gauge institutional appetite for XRP products and assess the risk landscape.

Whoever takes the lead, an XRP ETF launch is poised for a significant price surge in the Ripple coin.

In addition, the asset manager’s fake XRP ETF filing in 2023 has further strengthened their cautious stance. Previously, the filing went viral and sparked ambiguity within the crypto market. The investment firm had to publicly deny involvement, potentially damaging their reputation. This incident might have made them cautious about pursuing an XRP ETF, at least for now, as they may want to avoid similar PR issues.

Will BlackRock Launch an XRP ETF?

Additional factors like lack of demand and XRP’s relatively small market share have also contributed to the asset manager’s decision. However, BlackRock is expected to push for an XRP ETF in the future after tackling all the possible hurdles.

BlackRock is known for launching products at the right moment, when the odds are in their favor. The strategic move is expected when XRP meets complete regulatory clarity and market stability. As per All Things XRP, BlackRock is envisioning dominating the market. The expert cited, “But if and when they do, it’ll be to dominate the space — not just participate.”

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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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Expert Says Solana Price To $2,000 Is Within Reach, Here’s How

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While investors are scanning the horizon for a short-term Solana (SOL) rally, cryptocurrency expert CryptoCurb is predicting an ultra-bullish price movement. CryptoCurb argues that a Solana price of $2,000 is “absolutely realistic” given the current fundamentals and on-chain indicators.

Solana Price To $2,000 Is A Realistic Projection

Pseudonymous cryptocurrency analyst CryptoCurb is predicting a massive growth spurt for Solana in the near future. In an X post, the expert says the Solana price can achieve a valuation of $2,000 given its impressive network metrics.

He hinges his projection on several factors, including Ethereum’s previous price performance. Ethereum price spiked to a $600 billion market capitalization during the last cycle with its steep fees and scalability issues.

A $2K SOL price will translate to a $1 trillion market capitalization that will see it flip Ethereum as the largest altcoin. CryptoCurb notes that if Ethereum can post impressive figures during the last cycle, Solana has the capabilities to be valued at $2,000.

“2K is absolutely realistic if Solana keeps its global adoption pace with minimal disruptions and continues to scale,” said CryptoCurb.

Rising network inflows are expected to send the Solana price on a short-term rally to $150 before a big push to $2K. Currently, the Solana price is pegged at $140 with a market capitalization of $72.6 billion, making CryptoCurb’s prediction an uphill climb.

A Wave Of Impressive Metrics Around SOL

While CryptoCurb did not disclose an exact timeline for his $2,000 prediction, he points to a short-term seismic price increase. The expert his backing his predictions with a swathe of network metrics pointing to fresh bullishness.

Solana has the highest number of active addresses over the last seven days at 28.4 million. The network led the pack for transactions at 369 million, trouncing Tron, BNB Chain, Base, and Bitcoin.

Solana is finding application in several Web 3 verticals given its speed, low cost, and scalability. In the last week, the Solana price has risen by nearly 7% while 24-hour trade volume has risen by 36%.

Last week, Canada launched the first SOL ETF with prices projected to surpass $250, reversing a forming death cross. Solana open interest crossed 5.5 billion, climbing by 10% amid rising whale activity in the ecosystem.

Rising bullish metrics for the network suggest that SOL will reach $200 before ETH reclaims $3,000.

 

 

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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.





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Expert Predicts Pi Network To Reach $5 As Whales Move 41M Pi Coins Off Exchanges

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Crypto expert PiMigrate recently predicted that the Pi Network price could reach a new all-time high (ATH) of $5. This comes amid recent whale movements, with these investors moving 41 million Pi Coins off exchanges.

Expert Predicts Pi Network To Reach $5

In an X post, PiMigrate stated that Pi Network’s journey to $5 has just begun. He remarked that the altcoin has very strong support at $0.6. As such, the expert believes that this $5 price target is a “very possible valuation.” PiMigrate added that good utilities will push the altcoin to this target.

Another expert, Moon Jeff, also predicted that the Pi Coin price can reach this $5 target. In an X post, the expert concluded that the altcoin can reach this price target following his analysis.

Pi NetworkPi Network

He alluded to his accompanying chart, which he described as being bullish, indicating that the Pi Network price can indeed reach this $5 target. The chart also showed that the altcoin has formed a strong support level at its current price.

Crypto analyst Xia also recently claimed that the Pi Coin’s momentum is building fast after it surged past the $0.63 mark with strong volume. She also noted that the RSI and MACD are turning bullish for the altcoin.

This bullish outlook for the Pi Coin comes amid recent huge whale accumulation. A Pi community page revealed that these investors moved a whopping 41 million coins (around $27 million) off exchanges in 48 hours. Specifically, these whales moved over 13 million Pi Coins from OKX to several wallets. This presents a bullish outlook for the coin since exchange supply is declining.

Pi Needs To Reclaim This Symmetrical Triangle

While analyzing the Pi Network’s price on the higher timeframe, analyst Alpha Crypto stated that the altcoin needs to reclaim its symmetrical triangle to resume its upward move.

Pi CoinPi Coin

The analyst remarked that once Pi reclaims this structure, market participants can look for a potential long setup. He added that on the flipside, if the price falls outside the triangle, it could open up a short opportunity. Alpha Crypto urged traders to wait for confirmation rather than rushing.

From a fundamentals perspective, top exchange listings could send the Pi Coin price higher. CoinGape recently reported that top exchange HTX had fueled listing speculations with a cryptic post on its X platform. Meanwhile, Pi community members remain hopeful that Binance will soon list the altcoin.

These community members will have their eyes on the Consensus 2025 conference, where Pi Network founder Nicolas Kokkalis will allegedly join an exclusive list of industry players to speak at the event.

Expert Dr. Altcoin described the event as a pivotal moment for Pi Network, as it will provide an opportunity for the Pi team to promote the network’s ecosystem.

At the time of writing, the Pi Coin price is trading at around $0.63, down almost 3% in the last 24 hours. Trading volume is also down over 36%, with $96.34 million traded during this period.

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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.





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