Altcoin
Shiba Inu Burn Rate Jumps 450%, SHIB Price Rally To $0.0001 Next?
Amid the broader market consolidation, the SHIB Price is once again picking up pack gaining over 3% as the Shiba Inu burn rate soared by 450% in the last 24 hours. As a result, more than 2.9 million SHIB coins have moved out of circulation thereby putting an upward price pressure.
Will Shiba Inu Burn Rate Surge Trigger SHIB Price Rally?
The SHIB burn rate is a mechanism designed to reduce the circulation of the SHIB tokens gradually over time. As a result, the development team sends some portion of the SHIB tokens to the burn address, thereby removing them permanently from circulation.
As per the Shibburn data, the Shiba Inu burn rate has surged by 450% in the last 24 hours. Thus, a total of 2,903,600 coins moved out of circulation with the SHIB price reacting positively to it. At press time, the Shiba Inu price is trading at 3.25% up $0.00001778 with a market cap of $10.48 billion.
Thus, a total of 410,730,861,486,725 SHIB tokens have been burned from the initial supply, leaving 583,516,038,997,683 SHIB tokens in circulation.
Over the past week, the SHIB price has remained largely volatile and has been facing rejection at $0.000017. However, on the weekly chart, it is still up by 5%. But on the monthly chart, the Shiba Inu price has surged by a staggering 32% amid a strong resurgence in the entire meme coin sector. This puts SHIB on the list of top meme coins for the year 2024.
Analysts Flash A Bullish Signal for SHIB
Crypto analyst Cantonese Cat named Shiba Inu (SHIB) among the top ten altcoins that flash a buy signal from here. The key indicator behind this bullish outlook is the “L3 Banker Fund Flow Trend Oscillator,” which has issued a rare buy signal for SHIB.
The analyst further added that this signal last appeared in July 2023 when the SHIB price was trading in the range of $0.000007 and $0.000008. Following that signal last year, SHIB remained steady for several months while experiencing a significant rally in February 2024, seeing a 5x increase in the price all the way up to $0.000045 by March.
Cantonese Cat’s analysis, based on Fibonacci retracement levels, suggests that Shiba Inu may be heading for a similar upward movement, indicating potential price targets in the coming months.
The ultimate price target for Shiba Inu is at the 1.618 Fibonacci extension level, around $0.00047, which could lead to a 30x gain. However, the analyst warns that while this target is attainable, SHIB must first overcome significant resistance zones to reach it.
Apart from the Shiba Inu burn rate surge, there are other catalysts to trigger strong price action. Recent market speculations also suggest the possibility of a Shiba Inu ETF coming to the market. As a result, analysts have turned further bullish for the world’s second-largest meme coin.
Bhushan Akolkar
Bhushan is a FinTech enthusiast with a keen understanding of financial markets. His interest in economics and finance has led him to focus on emerging Blockchain technology and cryptocurrency markets. He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills.
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.
In a recent announcement, the leading crypto exchange Binance has announced to remove certain key pairs from its platform. According to the release, the exchange will release four pairs related to BTC, ETH, BNB, and DAI. This move has sparked speculations over the potential reason behind such decision, while also fueling discussions over its impact on the prices.
Binance Delists Key Trading Pairs Sparking Speculations
Binance has recently announced its plans to delist four trading pairs from its platform. The announcement showed that APE/ETH, ATOM/BNB, BAL/BTC, and BNB/DAI, would be removed from the exchange. This announcement by the crypto exchange has sparked speculations.
Meanwhile, the company noted that this move was part of their regular reviews of spot trading pairs, which consider several factors like liquidity, trading volume, and others. Notably, the delisting is scheduled for October 11, 2024, at 3:00 UTC.
The exchange indicated that this action is in line with its effort to maintain a high-quality trading environment for the users. In addition, it also clarified that the delisting of these pairs will not affect the availability of the individual tokens. In other words, the users can continue to trade the base and quote assets through other trading pairs still available on the platform.
Notably, the exchange also advised users of its Spot Trading Bots to cancel or update their bots for these pairs to avoid potential losses once trading ceases.
Will These Delistings Impact BNB And Other Prices?
The news of Binance’s delisting tends to trigger mixed reactions in the market. Typically, such announcements from the top crypto exchanges can impact investor sentiment. For instance, positive developments usually lead to market optimism, while decisions like delisting can fuel uncertainty.
Having said that, traders might interpret this delisting as a sign of reduced interest or declining liquidity in the affected pairs. It could potentially drive down the prices of these tokens in the short term, sparking speculations over a potential price crash.
However, the delisting of spot trading pairs does not necessarily guarantee a price slump. Although chances remain, the investors can sometimes avoid such announcements, as the exchange has still other pairs of these crypto available on its platform.
As of writing, APE price was up about 0.55% and exchanged hands at $0.74, while its trading volume dropped by 5% to $50.44 million. On the other hand, ATOM price was down about 0.5% to $4.35, and its trading volume dipped 30% to $78.81 million.
Simultaneously, BAL price traded near the flatline and traded at $1.94, after touching a 24-hour high of $1.96. Finally, BNB price rose nearly 2% to $582.37, while its trading volume soared nearly 30% to $2.29 billion.
Rupam Roy
Rupam is a seasoned professional with three years of experience in the financial market, where he has developed a reputation as a meticulous research analyst and insightful journalist. He thrives on exploring the dynamic nuances of the financial landscape. Currently serving as a sub-editor at Coingape, Rupam’s expertise extends beyond conventional boundaries. His role involves breaking stories, analyzing AI-related developments, providing real-time updates on the crypto market, and presenting insightful economic news.
Rupam’s career is characterized by a deep passion for unraveling the complexities of finance and delivering impactful stories that resonate with a diverse audience.
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.
Sam Altman’s AI-meets-crypto project Worldcoin has taken significant heat lately, waining against the backdrop of Alameda Research’s massive dumps. On-chain data on Wednesday indicated that the market maker has continued selling the AI token, raising severe investor concerns as WLD price cracked nearly 5% intraday. Meanwhile, crypto market enthusiasts speculate over what lies ahead for the token in light of current market statistics and bearish sentiments prevailing with recent dumps.
Worldcoin Takes Heat As Alameda Research Sells Substantially
In an unprecedented mover, Worldcoin has encountered significant selling pressure as market maker Alameda Research continuously offloaded significant amounts of the AI token to Binance, a leading crypto exchange. According to on-chain tracker Spotonchain’s data, the market maker has been dumping 143,770 WLD to Binance weekly over the past two months.
Notably, the entity sold 1.56 million coins, worth $2.51 million, to Binance since August 9 in ten batches. The average price of these deposits was recorded as $1.605. At present, the market maker still holds 23.44 million coins worth $43 million, indicating that it could take three years to offload the complete amount at the current rate. Given the AI token’s current market stance, continuous selloffs could propel further downside momentum in the token’s price trajectory.
Meanwhile, it’s also worth noting that another one of Alameda’s top holdings is MNT, formerly known as BIT, which could see selloffs ahead as the firm’s 3-year no-sale commitment with BitDAO ends in November.
Token Price Dips 5%
Simultaneously, Worldcoin price tanked nearly 5% over the past day and is now sitting at $1.86. The coin’s intraday low and high were recorded as $1.83 and $1.98, respectively. Notably, the AI token reflects a bearish stance in light of continued selling by the market maker, raising investor concerns.
Further, Coinglass data indicated a 10% drop in the token’s futures OI to $170.83 million. Moreover, even the derivatives volume plummeted 31% over the past day to $754.13 million, underlining reduced investor interest in the asset. Coupled with Alameda’s massive selloffs, market stats hint that WLD currently rides a bearish wave across the broader market. Crypto enthusiasts expect further dips in price should more selloffs occur ahead.
However, a recent WLD price analysis by CoinGape reveals that the crypto could conversely rally 400% ahead. This bullish projection comes on the heels of analysts anticipating Microsoft’s potential acquisition of OpenAI ahead. OpenAI is another leading AI firm led by Sam Altman.
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.
Altcoin
Experts Identify the Underdog Cryptocurrency Set To Outperform Dogecoin (DOGE), Shiba Inu, And PEPE Combined
ETFSwap (ETFS) is quickly emerging as the cryptocurrency to watch, with experts predicting that it will outclass popular tokens like Shiba Inu (SHIB), Dogecoin (DOGE), and PEPE combined. What’s driving this sudden excitement? Crypto whales are taking notice, rushing to grab a piece of ETFSwap (ETFS) before its price explodes, thanks to its advanced infrastructure, cutting-edge utilities, and groundbreaking features built on the Ethereum blockchain.
ETFSwap (ETFS): A Trailblazer In Growth And Returns
The current buzz around ETFSwap suggests it’s a game-changer in the world of cryptocurrency, particularly in the upcoming crypto ETF boom. No wonder experts are predicting it will surpass the combined performance of Shiba Inu (SHIB), Dogecoin (DOGE), and PEPE. The driving force behind this forecast is ETFSwap’s superior technology infrastructure, which is rooted in the fast and scalable Ethereum blockchain.
The excitement is palpable as ETFSwap (ETFS) nears the conclusion of its ICO, with whales already scooping up tokens in anticipation of massive gains. These crypto elites are preparing for a profitable exit before the general public catches wind of this hidden gem. The platform’s appeal is backed by the advanced security measures stamped by Cyberscope’s audit and the team’s verified KYC status through SolidProof, ensuring investors’ confidence.
Beyond security, ETFSwap (ETFS) boasts an impressive array of features. Its ability to list highly priced tokenized assets, its staking mechanisms with an 87% APR yield, and its smooth participation in various liquidity pools make it an attractive investment. With these offerings showing up in phase 1 of its Beta launch soon, ETFSwap (ETFS) is not just competing with altcoins like SHIB, DOGE, and PEPE—it’s setting a new standard in the industry. Phase 2 of its Beta platform promises even more groundbreaking utilities – AI-powered ETF trading tools such as the ETF Screener and ETF Tracker, helping investors make more informed decisions.
As the crypto ETF market grows, ETFSwap ( ETFS) is perfectly positioned to take full advantage. Its anticipated ETF launch in 2025 is expected to draw in institutional investors, boost liquidity, and provide a new wave of investment opportunities.
Why Experts Believe ETFSwap Will Outshine SHIB, DOGE, And PEPE
While Shiba Inu (SHIB), Dogecoin (DOGE), and PEPE have had their moments in the spotlight, many believe their best days are behind them. Shiba Inu (SHIB) and Dogecoin (DOGE) have seen remarkable growth due to strong community backing and media hype, but their value proposition has become stagnant. PEPE, a meme coin, also relies heavily on speculation, which could limit its long-term potential.
ETFSwap, on the other hand, offers far more than just hype. Its tokenized ETFs present a unique value proposition that Shiba Inu (SHIB), Dogecoin (DOGE), and PEPE simply cannot match. These ETFs provide exposure to a diverse range of assets, increasing the potential for higher returns. Moreover, ETFSwap’s infrastructure is built on the Ethereum blockchain, offering superior scalability and speed compared to its meme-coin counterparts.
The expert consensus is clear: ETFSwap (ETFS) has the technological edge and growth potential to deliver exponential returns. The price of $0.03846 in the ICO phase is strategically low, offering investors the chance to enter early before the inevitable surge. While Shiba Inu (SHIB), Dogecoin (DOGE), and PEPE may still hold some market appeal, they no longer have the power to guarantee the kind of profits that ETFSwap (ETFS) promises in the upcoming ETF bull run.
The crypto whales are well aware of this, shifting their portfolios from slow-moving tokens like Shiba Inu (SHIB), Dogecoin (DOGE), and PEPE to ETFSwap (ETFS). They understand that holding onto these older tokens could slow down their returns, while ETFSwap (ETFS) presents a more lucrative alternative with its innovative offerings and future-ready technology.
Conclusion
ETFSwap (ETFS) is the underdog that’s ready to dominate the crypto ETF market. As experts have predicted, ETFSwap (ETFS) is set to outperform Shiba Inu (SHIB), Dogecoin (DOGE), and PEPE, offering far superior growth potential and long-term returns. The ongoing ICO, priced at just $0.03846, is a rare opportunity for investors to get in before the masses.
Crypto whales are already making their moves—don’t miss out. Get in before the masses do.
For more information about the ETFS Presale:
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