Altcoin
Shiba Inu Burn Rate Soars By 1000%, SHIB Price At Inflection Point
The renowned dog-themed meme coin Shiba Inu burn rate has again witnessed a remarkable surge on Friday, up roughly 1000%. Recent data provided by the token’s burn tracker indicated that over 6 million coins were permanently removed from the asset’s market supply. In turn, traders and investors anticipate a bullish impact on SHIB price, with their optimism further supported by the latest community developments.
Shiba Inu Burn Rate Blows Up 1000% As Over 6M Coins Destroyed
As per an X post by the burn tracker Shibburn on January 24, the intraday Shiba Inu burn rate spiraled 1041%, propelling market optimism surrounding the meme crypto. Primarily, as 6.7 million tokens were removed from the circulating supply, traders and investors anticipated price gains ahead, mirroring the law of supply and demand.
For context, the meme coin’s burn mechanism sends SHIB tokens to a null address, thereby permanently removing them from the supply. In light of the abovementioned blow, market watchers expect a potential upswing despite the demand remaining the same.
Latest Community Developments Inject Additional Optimism
Simultaneously, it’s worth mentioning that the leading meme coin‘s community has also secured a landmark achievement recently. The introduction of ShibOS, a blockchain-based operating system, has emerged as a revolutionary action in the Web3 space.
Notably, the SHIB community introduced ShibOS, offering users seamless Web2 to Web3 transition opportunities for various use cases. This advancement, coupled with the Shiba Inu burn rate surge, has birthed noteworthy bullishness over the meme-themed asset’s long-term forecast.
What’s Ahead For SHIB?
At the time of reporting, SHIB price witnessed a gain of nearly 1% and is trading at $0.00002028. The cryptocurrency’s 24-hour low and high were $0.00001954 and $0.00002047, flagging a highly turbulent intraday action. Notably, the broader price chart for the meme coin shows a period of sideways trading, underscoring a consolidation.
However, the abovementioned Shiba Inu burn rate surge and recent developments can push the asset to witness remarkable gains ahead. Intriguingly, a recent SHIB price analysis by CoinGape reveals that it remains vital for the coin to break the key resistance at the $0.00002 level to embark upon a bullish movement.
Besides, it’s also worth mentioning that the meme coin’s price is currently under the 50-EMA, suggesting a bearish trend for the asset. Further, another vital factor remains that 200-SMA at $0.00001925. Given that SHIB breaks below this level, a fall to $0.000018 looms. Traders and investors continue to keep the token on their radars, awaiting significant price action shifts ahead.
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
Next Cryptocurrency to Explode After SEC Takes SAB 121 Out & Ethereum Could Shoot to $7K
The new US SEC team under Donald Trump’s leadership has revoked SAB 121, a crypto account regulation that has required financial entities to treat crypto holdings as liabilities on their balance sheets since March 2022.
Because this shines a light on Ethereum, ERC-20 tokens might be the next cryptocurrency to explode.
SAB 121’s closing is a big deal as it’ll likely spur more TradFi companies to explore DeFi. Partly owing to Ethereum having the most significant TVL at $67.387B, an analyst predicts it will reach $7K.
Another factor pushing Ethereum coins forward is Etherealize, an Ethereum Foundation-backed marketing firm that educates institutions on the network.
Such news, combined with $ETH spiking by 6.5% since yesterday, suggests a thriving future for both $ETH and ERC-20 tokens, like $WEPE, $MIND, and $MEMEX.
1. Wall Street Pepe ($WEPE) – Insider Information for Crypto Degens
Wall Street Pepe ($WEPE) is a frog coin that’s on a mission to capitalize on Pepe’s $6.5B market cap. However, unlike its predecessor, it has real-world utility: exclusive trading insights for degens.
By offering small crypto investors trading tactics of the Wolf of Wall Street, $WEPE aims to help them out-trade crypto whales, which manipulate the market for selfish gain.
Beyond receiving game-changing strategies, $WEPE holders can share their own fruitful ones, for which they receive rewards. About 15% of the project’s total token supply is strategically set aside for this.
More $WEPE can also be won through staking, and 12% of the total supply goes toward it.
Considering $WEPE’s price has already increased by 83.25% from $0.00020000 to $0.0003665 and that we predict its price to reach $0.0013 (a 254.71% rise) by this year’s end, there’s no better time to buy the coin on presale than the present.
2. MIND of Pepe ($MIND) – AI Agent Dishing Out Crypto Trading Tactics
MIND of Pepe ($MIND) is another frog coin building on Pepe’s achievements. In just 48 hours of going on presale, it surpassed $1.8M.
Albeit similar to $WEPE in the sense that it also grants token holders exclusive trading insights, it differentiates itself by leveraging AI.
The AI agent token scans crypto Twitter (X) to find out what’s hot and what’s not in the crypto realm. It then shares its findings with token holders, helping them gain a competitive edge in the blockchain market, which is forecasted to reach a whopping $1,000T by 2032.
Early adopters can gain exclusive insights into the ever-expanding Web3 market by purchasing $MIND on presale (currently for just $0.0031889) and through staking, with a current 626% APY.
Its staking initiative and the 20% $WEPE allocations to marketing and 30% to development also boost its sustainability, contributing to its high chance of long-term success.
3. Meme Index ($MEMEX) – Meme Indexes Catering to All Risk Appetites
Meme Index ($MEMEX) is another attractive Ethereum-based investment that aggregates industry-wide exposure into four curated meme coin indexes.
The meme coin baskets range from low to high volatility, giving holders the chance to access ones that suit their investment needs.
For instance, Titan offers insights on the top ten meme coins with the greatest market caps, which are less risky because of their high demand.
On the other hand, the Meme Frenzy Index highlights the most high-risk investment options with significant returns.
The Meme Index you pick really depends on where your risk tolerance lies.
Besides its dynamic baskets, $MEMEX is a governance token, which allows token holders to have a say on the Meme Index ecosystem’s future path. They can vote on meme coins to be included in the baskets and on future developments to bring the coin to rosy pursuits.
It also has an attractive staking incentive, with a commendable 821% APY granting stakers passive income every three years.
Plus, security-conscious investors can rest easy. The smart contracts of these governance and staking functions are fully audited to ensure a secure and transparent experience.
$MEMEX could be the next coin to 100x. This is especially true when considering that it’s straightforward to buy on presale (currently at $0.0155312). We predict it could reach $1.75 by 2030.
4. Onyxcoin ($XCN) – Help Build DeFi Services From the Ground Up
$XCN is the backbone of Onyx Core, a blockchain infrastructure that helps build DeFi services from start to finish on the Ethereum blockchain.
Ultimately, it enables developers and businesses to launch and operate their own networks so they can move digital assets worldwide in a breeze.
What makes it stand out further is its compatibility with other independent networks and digital assets, leveraging each of their benefits to modernize TradFi systems.
$XCN has three major roles in the ecosystem. First, it’s a governance token, giving token holders a say in its future direction. Second, it’s used to pay for Onxy and Chain.com’s services.
Last but not least, it can be staked with a 30.62% APY – $50.89M has already been staked.
The coin’s use cases have supported its uptrend. Since last week, it has jumped by 205%, bringing its price to $0.02319.
5. Ondo ($ONDO) – Vote on a DeFi Protocol’s Financial Tools
The next cryptocurrency to explode could be $ONDO, a governance token that enables holders to vote on how its DeFi protocol leverages top-not financial tools.
Some of the tools and services that Ondo supplies include:
- Liquidity pools that grant users passive income and stabilize the platform
- Crypto loans with fixed rates to help minimize profit loss during market volatility
- Tokenized real-world assets (RWAs), making equities and bonds easily accessible in the DeFi industry.
When taking into account that the RWA market is predicted to hit $30T by 2030, $ONDO is a great entry point to benefit from the upswing.
The coin is valued at $1.51, and its market cap has increased by 16.5% since yesterday to $4.75B.
Each of these tokens benefits from Ethereum’s expansive smart contract capabilities and DeFi applications.
ERC-20 Tokens Might Be the Next Cryptocurrencies to Explode
As $ETH adoption increases, partly due to the SAB 121 coming to an end and Etherealize’s learning materials, ERC-20 tokens might be the next cryptocurrencies to explode because they leverage the network’s benefits (smart contracts, DeFi, scalability, digital ownership).
The coins we discussed offer low-cap entries into the thriving Ethereum ecosystem for less than a fraction of the price.
However, remember that this isn’t financial advice. You must always do your own research before investing in crypto and be willing to lose the amount you spend.
Altcoin
RUNE Price Tanks 30% Amid THORChain Insolvency Reports
RUNE, the native cryptocurrency of the decentralized liquidity protocol THORChain, is facing strong selling pressure amid reports of insolvency. The RUNE price has crashed 30% in the last 24 hours with its market cap plunging under $800 million and daily trading volume shooting up by 112% to $758 million.
RUNE Price Crashes Amid Insolvency Risks
THORChain’s native cryptocurrency RUNE has witnessed strong selling pressure as the liquidity protocol faces insolvency risks. In order to prevent this, the protocol has to stop Bitcoin (BTC) and Ethereum (ETH) withdrawals on its lending as well as the savers program.
As a result, node validators decided to pause the network for a minimum of 90 days in order to resolve the debt issues. As of now, THORChain’s lending program supports only BTC and ETH. However, its saver vaults provide access to a wider range of assets.
In the case that all loans and saver positions were simultaneously closed and repaid, a potential insolvency risk emerges. Furthermore, with the RUNE price collapsing, it could trigger further trouble for the interblockchain settlements protocol THORChain.
THORChain Community Members Complain
Some of the community members have raised concerns asking RUNE investors to stay cautious considering that the protocol has significant liabilities. According to crypto analyst TCB, the protocol’s liabilities amount to:
- $97 million in lending obligations (primarily in ETH and BTC).
- $102 million tied to savers and synthetic assets (also in ETH and BTC).
Furthermore, on the asset side, Thorchain currently holds $107 million in exogenous liquidity within its liquidity pools. However, the analyst TCB warned that the liquidity providers (LPs) could withdraw these liquidity assets at any moment if RUNE holders trigger a panic selloff. This could further exacerbate if the RUNE price collapses from here. “I’m not going to sugarcoat the situation—this is far from all right,” TCB stated.
The Interblockchains protocol mints RUNE and sells it into liquidity pools to cover liabilities. Community member TCB criticized this design calling it financially unstable and highly reflective.
Recent activity highlights the issue: repaying $4 million worth of RUNE liabilities on the previous day led to the protocol accruing additional liabilities amounting to several million RUNE.
What’s the Solution to This?
TCB proposed two solutions ahead for THORChain, however, it comes with its own set of challenges. The decentralized protocol is currently at a crossroads. TCB said:
- Continue Operations Without Intervention: This would allow an estimated 5-7% of the system’s value to be extracted by a select few who exit early, triggering a downward spiral in RUNE price. Under this scenario, approximately $75 million would go to those exiting first, while $1.5 billion in value could be wiped out, potentially leading to the destruction of Thorchain.
- Default and Rebuild: The protocol could default on its debts and declare bankruptcy, preserving the valuable components of its ecosystem. By salvaging these assets, the community and stakeholders could work collaboratively to grow the network. This approach aims to restore the $200 million in outstanding capital over time, ensuring the protocol’s long-term viability and stability.
As said, both these options come with their own set of risks. Soon after the node validators paused the network the RUNE price drop has been arrested at $2 for now. In fact, the THORChain crypto price has bounced back 30% from the bottom currently trading at $2.30.
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
Next Big Crypto as Trump Issues Crypto Executive Order
Turns out Trump’s promise to make crypto a national priority wasn’t empty talk.
Yesterday, he signed the first crypto executive order that outlines several big commitments:
- To stop persecution of companies and individuals for engaging in any lawful crypto activities
- To support the development of dollar-backed stablecoins
- To roll out clear digital assets regulations that would drive innovation
- To halt the creation of central bank digital currencies (CBDCs)
Trump also established the President’s Working Group on Digital Asset Markets, led by the AI and crypto czar David Sacks.
The Working Group’s agenda includes evaluating the possibility of creating a ‘national digital asset stockpile.’ Notice how it doesn’t mention $BTC, so we might see altcoins like $ETH, $XRP, or $AAVE in the mix.
The cherry on top? The SEC scrapped the anti-crypto SAB 121 bill that enforced strict accounting standards on crypto firms.
The bottom line is that crypto has a bright future ahead, so now is the right time to grow your portfolio.
Here’s our educated guess at the next big crypto with a potential for 100X returns.
1. MIND of Pepe ($MIND) Offers Trading Insights Free From Human Bias
Trump expects AI to be his golden goose this year, as evident from his recent $500B investment into Stargate, a joint venture of OpenAI, Oracle, and Softbank.
For the crypto community, this means one thing – invest in AI tokens.
MIND of Pepe ($MIND) is one of the best early-stage AI agent tokens that’s rapidly gaining momentum. The project swooped in $3.4M in its first two weeks on presale. One $MIND now costs $0.0031889, but the price will increase tomorrow.
$MIND is an autonomous agent that analyzes market data to deliver its token holders exclusive insights. It can also engage in conversations and launch its own tokens, which will be only available to early adopters.
And since $MIND is free from human bias, its trading advice should theoretically be more effective. With no fear or greed to cloud its judgment, $MIND could identify and capitalize on market trends with great precision.
2. Meme Index ($MEMEX) Offers Safe Exposure to the $21B Meme Coin Market
Meme coins are another sector that’s likely to flourish under Trump’s administration. The tricky part is finding meme coins that will explode.
Meme Index ($MEMEX) simplifies this with four baskets that cater to different risk appetites. Essentially, you invest in eight meme coins instead of one to spread the risk and offset potential losses.
True degens will favor the Frenzy index, which features new tokens that might rival the heavyweights. If you prefer to play it safe, pick the Titan index with established coins like $DOGE, $SHIB, and $PEPE.
One $MEMEX costs $0.0154693, and early supporters have bought $2.8M worth of tokens so far.
First-movers have two advantages: an 826% staking APY and governance rights. $MEMEX holders can vote on decisions regarding new features, community initiatives, and basket content. If you’d like to get in early, you can find more information in our Meme Index price prediction and how-to-buy $MEMEX guide.
3. Virtuals Protocol ($VIRTUAL) Rides the AI Agent Wave with 23 of the Top 100 Tokens on Board
Virtuals Protocol ($VIRTUAL) has one advantage over other AI tokens: it’s an AI agent launchpad. Twenty-three of the top 100 AI agent tokens run on Virtuals, including $AIXBT, $GAME, $SEKOIA, and $FREYA.
The logic is simple: as long as the AI agent frenzy continues and users launch their own tokens, the demand for $VIRTUAL will grow. Even if most of these tokens sink, their issuers must buy some $VIRTUAL to get started.
$VIRTUAL has grown 26,009% since its launch in December 2023 and became the second-largest AI agent token by market cap, right after $FET.
The token dropped to $2.63 from its all-time high (ATH) of $5.07 recorded on January 2. However, this dip presents an appealing buying opportunity as $VIRTUAL is likely to see more upside in 2025.
4. XDC Network ($XDC) to Lead Enterprise Crypto Adoption
XDC Network integrates public and private blockchains to digitize and streamline business processes and software development. It can automate letters of credit, cross-border payments, and data management, among everything else.
The ecosystem’s native token, $XDC, is now actively recovering from the bear market of 2023. On January 16, it reached $0.16, just 18% away from its 2021 ATH of $0.19, but has since dipped to $0.11.
On top of that, XDC Networks’s TVL (Total Value Locked) hit a record $38.25M last week. This indicates a surge in institutional adoption of XDC Network-based protocols.
With the new presidential administration’s pro-crypto stance, we can expect even more companies to integrate blockchain into their processes, which would drive $XDC’s growth.
January 23 – Future National Crypto Day?
The crypto market has come a long way, and January 23 might very well become National Crypto Day in the US.
We expect Trump’s crypto executive order to promote innovation, drive blockchain adoption, and fuel a broader bull run in 2025.
However, we remind you that favorable market conditions don’t guarantee the success of individual projects. DYOR, diversify your portfolio and never invest more than you can afford to lose.
-
Market22 hours ago
Leading Altcoins on January 23: MANTRA, ANIME, and ELON
-
Market21 hours ago
ADA Price Under Pressure with Death Cross Formation Ahead
-
Market18 hours ago
SOL Price Retreats 14.5% While Whales Hit New Peak
-
Market17 hours ago
Binance Labs Rebrands to YZi as Changpeng “CZ” Zhao Returns
-
Market16 hours ago
Vitalik Buterin Criticizes TRUMP and Political Meme Coins
-
Market23 hours ago
Ledger Co-Founder David Balland Rescued After Kidnapping
-
Bitcoin23 hours ago
Bitcoin Won’t Topple the US Dollar, Goldman Sachs CEO Says
-
Market20 hours ago
Scammers Steal $857 Million Using TRUMP Meme Coin Frenzy
✓ Share: