Altcoin
Shiba Inu Burn Shoots Over 28,000%, SHIB Price To Pump Ahead?
The Shiba Inu (SHIB) meme-themed cryptocurrency has again stirred optimism among crypto market traders and investors globally. As the dog-themed meme token registered over a whopping 28,000% surge in its burn rate today, market sentiments on SHIB price action ahead have turned highly bullish. Meanwhile, the token also secured a major futures listing on a renowned crypto exchange recently, further solidifying investor optimism across the broader market.
Shiba Inu Burn Rockets Over 28,000% Sparking Market Optimism
According to data facilitated by the tracker Shibbrun on X today, August 30, Shiba Inu’s burn soared a whopping 28,145% in the past 24 hours. This massive surge is primarily attributable to a staggering 96.43 million SHIB burnt over the past day.
Further, the weekly burn rate surge totaled 301% at press time, garnering additional optimism for the token. SHIB community notified on X that 172.99 million tokens were burned in the past seven days.
Simultaneously, the total supply shrank to 589.27 trillion SHIB, with massive burns coming into play. As the top meme coin’s supply takes a hit, market sentiments turn bullish, mirroring the law of supply and demand.
Meanwhile, it’s also worth noting that Shiba Inu secured futures listing on Kraken, one of the top crypto exchanges. This recent listing endeavor enhances the meme token’s investor appeal, offering increased flexibility and accessibility in trading options.
Altogether, the recent developments paint an optimistic scenario for SHIB price action ahead. However, the token trades in the red zone today.
SHIB Price Tumbles Today, Will It Rise?
At press time, SHIB price slipped 0.7% in the past 24 hours to trade at $0.00001393. Its intraday lows and highs were registered as $0.00001389 and $0.00001452, respectively. Today’s waning movement aligns with the broader market movement. Bitcoin and major crypto prices today witnessed a trading session in the red zone.
However, Coinglass data illustrated a 0.44% uptick in Shiba Inu futures OI within the 4-hour time frame. This was accompanied by a 0.06% surge in the 24-hour chart, with the OI resting at $28.44 million as of writing. Nonetheless, the token’s derivatives volume saw a 15.33% decline in value to $44.48 million, sparking speculations among market participants.
Simultaneously, the RSI rested along 45, indicating a neutral stance for the asset. Overall, market stats illustrate that the coin might face short-term volatility, although long-term prospects remain bullish, with the burn chronicles further weighing in.
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
Will XRP Price Rally To $1 After Hitting Monthly High?
XRP price has recently witnessed a notable uptick, hitting its highest level since early October. The cryptocurrency, currently trading above the key support level of $0.52, is testing resistance near $0.56. This increase has raised questions about whether XRP could rally further, potentially reaching the $1 mark.
XRP Price Eyes $1 as Momentum Builds, Can Bulls Break Resistance?
XRP price hit a monthly high of $0.578, its peak since early October. This price surge has been boosted by strong investor interest, reflecting broader optimism across the crypto market. More so XRP price is now testing a critical resistance level at $0.56, which, if surpassed, could pave the way for a rally toward $0.60 or even higher.
However, caution remains as technical indicators suggest potential resistance ahead. An impending “death cross” formation, with the 50-day moving average closing in on the 200-day moving average, may indicate a bearish shift if realized. This pattern has historically preceded downward trends in XRP prices.
Additionally, XRP price is supported by positive momentum signals. The Moving Average Convergence Divergence (MACD) indicator shows the MACD line above the signal line, suggesting sustained buying interest. This bullish crossover, coupled with positive histogram bars, indicates that momentum remains on the upside.
If the MACD line continues above the signal line, XRP price could maintain its upward trajectory, potentially moving closer to the $1 mark.
Meanwhile, the Relative Strength Index (RSI) for XRP sits at around 67, nearing the overbought zone. While this suggests that XRP price has been experiencing strong buying pressure, it also indicates the possibility of a short-term consolidation. A further increase in RSI beyond 70 could trigger a price correction, as overbought conditions often precede pullbacks.
Speculation on SEC Chair’s Removal Fuels Optimism for Ripple
Consequently, market analyst Ben “BitBoy” Armstrong has speculated that Ripple and XRP may benefit if SEC Chair Gary Gensler is removed from office. With recent political shifts in the United States, some believe that a change in SEC leadership could lead to regulatory leniency for Ripple and other crypto firms. BitBoy suggests that such a move could attract capital into XRP, further driving its value upward.
Adding to this speculation, Ripple’s CEO recently echoed similar sentiments, advocating for new leadership at the SEC. While no official announcements have been made regarding potential changes, the market remains optimistic about the possible impact on price. Moreover, Brad Garlinghouse suggested that Gary Gensler is accountable for Democrats’ election performance.
At press time, XRP price is $0.55, reflecting a 3% increase in the past 24 hours with a market cap of $31.68 billion. Should the Ripple token manage to break and hold above this level, it could set the stage for a rally toward the $1 milestone. However, a failure to overcome this resistance may result in a pullback to the $0.52 support.
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
Cardano, Dogecoin, And XRP Price Are No Match For The ETFSwap (ETFS) 37,000% Rally By 2025
In the vibrant realm of cryptocurrency, some projects shine brightly for their innovation and potential for remarkable returns. Among them, ETFSwap (ETFS) is creating a buzz with its audacious target of a 37,000% surge by 2025, prompting investors to compare it to established tokens like the Cardano price, the Dogecoin price, and the XRP price, as its unique features could revolutionise investment strategies.
ETFSwap (ETFS): Set To Surpass Competitors With 37,000% Growth Potential
ETFSwap (ETFS) is currently in its bonus round of the presale, and the excitement surrounding this phase is palpable. With a focus on market making and efficient trading, ETFSwap (ETFS) allows users to engage in trading activities without the limitations of expiration dates. The platform offers position sizes of up to 50x, enabling traders to maximize their potential gain, whether they are going long or short.
Among the features that set ETFSwap (ETFS) apart is its commitment to security and privacy. By employing zero-knowledge (ZK) proof technology, it enables transactions to remain confidential. This level of transparency is critical for building trust among investors. Also, the platform has successfully completed KYC requirements with SolidPROOF, demonstrating its commitment to transparency and user safety.
Moreover, ETFSwap (ETFS) uniquely integrates traditional finance and decentralised finance (DeFi), enabling investors to benefit from both realms. This approach allows for portfolio diversification through various ETFs, helping investors spread risk and potentially enhance returns across different sectors. Additionally, the ETFS token is now listed on CoinMarketCap, establishing ETFSwap (ETFS) as a frontrunner in the cryptocurrency space.
The anticipation surrounding the beta launch of ETFSwap (ETFS) is building, especially as it sets its sights on a staggering 37,000% rally by 2025, outpacing established players like the Cardano price, the Dogecoin price, and the XRP price. With backend development and rigorous testing already completed, the platform promises efficiency through staking rewards, liquidity pools, and a live ETF price tracker. The excitement is infectious, as potential investors recognize the unique value of participating in this transformative project that could redefine the crypto landscape.
Cardano Price: Faces Challenges Amidst Innovative Blockchain Advancements
The Cardano price has gained attention for its innovative blockchain technology and sustainability focus. Designed for smart contracts and decentralised applications, the Cardano price aims to create a secure, scalable ecosystem. However, it faces challenges in gaining traction compared to other cryptocurrencies.
The Cardano price has fluctuated due to market sentiment and economic factors. While it boasts a dedicated community, the potential for explosive growth like that of ETFSwap (ETFS) remains uncertain. Investors seeking substantial returns may find the current trajectory of the Cardano price less appealing, especially with ETFSwap’s ambitious goals on the horizon.
Dogecoin Price: Volatility Raises Questions About Long-Term Viability
The Dogecoin price, originally a meme, has become a well-recognized cryptocurrency. Its community-driven nature and celebrity endorsements boost popularity, but the Dogecoin price’s underlying fundamentals remain questionable. While the Dogecoin price has seen significant surges, its long-term viability as an investment is debated.
The volatility of the Dogecoin price can benefit some investors, yet its lack of a robust use case compared to platforms like ETFSwap (ETFS) raises concerns. As the cryptocurrency market matures, investors may prefer projects with concrete applications, making ETFSwap’s offerings particularly attractive.
XRP Price: Faces Regulatory Challenges Amid Cross-Border Payment Ambitions
The XRP price aims to streamline cross-border payments between financial institutions. Despite its technological advantages, the XRP price faces regulatory scrutiny that hinders growth and creates uncertainty. While the XRP price has established partnerships and use cases, its potential for dramatic increases, like ETFSwap’s (ETFS) projections, seems limited. Investors may be attracted to ETFSwap’s (ETFS) innovative trading model and significant returns, especially considering the ongoing challenges the XRP price faces in the regulatory landscape.
Conclusion
While the Cardano price, the Dogecoin price, and the XRP price have their strengths, ETFSwap (ETFS) offers unmatched potential for a 37,000% rally by 2025, making it an exciting investment opportunity as its set to launch on exchanges. Meanwhile, ETFSwap (ETFS) presale tokens are selling quickly. Buy yours now at $0.05769 before they are available on exchanges.
For more information about the ETFS Presale:
Altcoin
Why Trump-Themed Coins are Crashing After US Election Results?
Donald Trump’s US election victory on Wednesday and the resulting euphoria failed to boost the price of Trump-themed memecoins, mostly due to so-called ‘sell the news’ trend. These tokens, which had seen significant gains earlier in the week, dropped by double digits following his win.
Some of the popular memecoins shed over 25% in market capitalization just a day after the victory, including TRUMP, MAGA, and TREMP.
Trump-Themed Tokens Suffer on ‘Buy the Rumor, Sell the News’ Trend
The PoliFi tokens drop happened despite the broader rise in the crypto market following Donald Trump’s victory in the US election. The tokens that were linked to Trump, among others, took a hit. The decline indeed did shake investor confidence in the PolitiFi assets, with traders seemingly selling the news-a pattern not too different from past meme coin behavior.
Similarly, like the rapid surge of Dogecoin prior to Elon Musk’s Saturday Night Live appearance in May of 2021, which peaked at $0.73 and fell over 30% shortly after, political tokens experienced a sharp sell-off following the election hype. For its part, DOGE is still 74% below its all-time high at current levels.
This is part of the “buy the rumor, sell the news” trend common with event-driven tokens that tend to be susceptible to political changes. Despite Trump’s win, the slump in these meme coins should bring in the realization of a possible weakness in the appeal for such meme coins and that some of their liquidity might be shifting from them.
As a matter of fact, many investors actually seem to be shifting funds into Bitcoin and other altcoins as the flagship cryptocurrency has been making new highs, raising hopes of a new bull market.
Losing Over 25% in Market Cap
Despite the euphoria surrounding Donald Trump’s election victory on Wednesday, Trump-themed memecoins failed to sustain their earlier gains, and some fell over 50% in the first hours after results.
These tokens, which had surged leading up to the election, saw sharp declines, with some losing over 25% in market capitalization just a day after his win. Memecoins like TRUMP, MAGA, and TREMP were among the biggest losers, highlighting the volatility typical of these event-driven assets.
Trump-Themed Memecoins Drop Over 50% After Election Rally—Is Recovery Possible?https://t.co/qSXjNg02v1
— FX Leaders (@FXLeadersCom) November 7, 2024
Trump-themed meme coins have plummeted since Donald Trump’s election win, with several tokens plummeting in price. MAGA, the largest Trump-themed meme coin by market capitalization, was down 24.26% in the last 24 hours, changing hands at $1.97 at press time, while its market capitalization fell from $212 million on Nov. 6 to $87 million. Another prominent token, MAGA HAT, inspired by Trump’s iconic red hat, was also down 32.22%, its market cap fallen to $38 million.
The other big loser was Dark MAGA, which blew out on Nov. 5 and then plummeted 20% from the pre-election level to $0.0048, wiping out upwards of $2.6 million in market cap.
This happens just at the right time, just like all other meme coins follow a sharp sell-off after just one peak moment. Event-driven tokens, such as the PoliFi coins, are highly volatile and connected with political events that tend to swing fast and may make them vulnerable to considerable shifts in value.
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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