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Will Shiba Inu (SHIB) Investors Succeed in Initiating Recovery?

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Shiba Inu’s (SHIB) price drop has raised enough concern among investors, and the altcoin is looking to change this.

The meme coin could note recovery if the investors stick to their current behavior and push on.

Shiba Inu Investors Add, Not Subtract

Shiba Inu’s price is reeling from the recent decline, which has led to losses and sales. As a result, the Relative Strength Index (RSI) recently dipped into the oversold zone, a technical indicator that suggests the cryptocurrency may be undervalued at current levels. 

Historically, such a position on the RSI is often a precursor to price recoveries. When an asset’s RSI falls below the 30 mark, it typically indicates that selling pressure has been overextended, and a potential reversal or rebound could be on the horizon. 

Investors and traders who monitor RSI levels closely may view this as a buying opportunity. Anticipating that the market will correct itself as it moves back into more balanced territory.

Read More: How To Buy Shiba Inu (SHIB) and Everything You Need To Know

Shiba Inu Supply on Exchanges.
Shiba Inu Supply on Exchanges. Source: Santiment

In addition to the favorable technical indicators, Shiba Inu (SHIB) holders have shown remarkable dedication in supporting the cryptocurrency’s price. Over the past ten days, there has been significant accumulation activity.

SHIB holders, reflecting their commitment to reversing the recent downtrend, have added close to 3 trillion SHIB in the last ten days. Such heavy accumulation suggests a strong belief in the asset’s long-term potential and resilience. 

Shiba Inu RSI.
Shiba Inu RSI. Source: TradingView

The collective action of these dedicated holders could play a crucial role in stabilizing Shiba Inu’s price and fostering a recovery.

SHIB Price Prediction: Making a Huge Jump

Shiba Inu’s price has already dipped below $0.00002000, trading at $0.00001762 at the moment. The next crucial support lies far below at $0.00001473. Whether SHIB holders’ bullishness manages to initiate a recovery from the current price or after a bounce back from the latter support floor is a matter of concern. 

However, once it does, flipping $0.00002093 is key, enabling the meme coin to climb back up into the consolidation zone of $0.00002267 and $0.00002584.

Read More: Shiba Inu (SHIB) Price Prediction 2024/2025/2030

Shiba Inu Price Analysis.
Shiba Inu Price Analysis. Source: TradingView

However, if Shiba Inu’s price drops below the $0.00001473 support line, the bullish thesis could be invalidated, and the losses could extend further.

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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Cardano (ADA) Price Hits 41% Weekly Growth, $1 Target in Sight

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Cardano (ADA) price has surged 41.89% in the last seven days, signaling strong bullish momentum in the market. The uptrend remains strong, supported by key technical indicators like the ADX and Ichimoku Cloud, which point to sustained positive sentiment.

However, signs of consolidation and narrowing gaps in short-term indicators suggest that the rally could face challenges if buying pressure weakens.

ADA Current Uptrend Is Still Strong

Cardano DMI chart shows an ADX of 42.7, indicating a strong trend. The metric has remained above 40 since November 7. This high ADX value confirms the robustness of ADA ongoing uptrend, signaling solid momentum behind the recent price movements.

With the positive directional index (D+) at 21.3 and the negative directional index (D-) at 11, bullish pressure continues to outweigh bearish activity, further supporting the upward trajectory.

ADA DMI.
ADA DMI. Source: TradingView

The ADX measures the strength of a trend without considering its direction. Values above 25 indicate a strong trend, while those below 20 suggest a weak or nonexistent trend. With an ADX at 42.7, ADA is clearly in a strong uptrend, showing significant market confidence.

The gap between D+ and D- reinforces the bullish dominance, suggesting that ADA price could sustain its upward movement if current conditions persist.

Cardano Ichimoku Cloud Shows An Important Signal

The Ichimoku Cloud chart for Cardano indicates a generally bullish trend, as the price remains above the cloud (Kumo). The Tenkan-sen (blue line) and Kijun-sen (red line) are relatively flat, showing signs of consolidation after ADA’s recent rally.

While the price is still trading above these lines, the narrowing gap between the price and the Tenkan-sen suggests weakening short-term momentum.

ADA Ichimoku Cloud.
ADA Ichimoku Cloud. Source: TradingView

The green cloud ahead signals potential support for ADA uptrend, but the current consolidation phase highlights the need for sustained buying pressure to maintain this momentum.

If the price drops below the Kijun-sen or approaches the cloud, it could signal a possible shift toward bearish sentiment.

ADA Price Prediction: Can It Reach $1 In November?

If Cardano (ADA) maintains its strong uptrend, it could test the resistance at $0.85. Breaking this level could pave the way for further gains, with the potential to reach the $1 threshold, marking a 20% rise from current levels and the highest price for Cardano since April 2022.

ADA Price Analysis.
ADA Price Analysis. Source: TradingView

However, as indicated by the Ichimoku Cloud, a potential reversal could be on the horizon. If bearish momentum takes over, ADA price could face significant downward pressure, potentially dropping to $0.51.

If this support fails, the price could decline further to $0.32, representing a steep 59% correction. This highlights the importance of the current support and resistance levels in determining ADA’s next direction.

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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Why SUI Network Outage Did Not Cause a Price Crash

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Earlier today, the Layer-1 blockchain Sui experienced a two-hour blackout, halting block production and rendering transaction processing impossible. This network outage led to a slight dip in SUI’s price, falling from $3.73 to $3.64.

Despite concerns of a more significant decline, the price stabilized after the project announced that the network was fully restored and operational.

Sui Comes Back Online, Altcoin Still in Good Position

Around 10:52 UTC, web3 security firm ExVull disclosed that a DOS bug caused the Sui network outage. Fully known as a Denial-of-Service (DoS) attack, the bug” refers to a software attack that overwhelms a system with excessive traffic or requests, causing it to become unavailable to legitimate users by crashing or severely slowing its functionality.

“After our analysis, it was found that the Sui Network node occur DOS due to integer overflow,” ExVul stated.

Following this development, several exchanges halted SUI transactions as the price also dipped a little. However, nearly two hours later, the project updated its community, saying that validators had assisted in resolving the issue.

“The Sui network is back up and processing transactions again, thanks to swift work from the incredible community of Sui validators. The 2-hour downtime was caused by a bug in transaction scheduling logic that caused validators to crash, which has now been resolved,” it explained.

Meanwhile, data from Messari showed that, amid the outage, the Sharpe ratio remained positive. The Sharpe ratio is a key measure of risk-adjusted return, indicating how much excess return an investment generates relative to its volatility

It helps investors assess whether the returns of a riskier asset justify the risk taken. A higher ratio signifies better risk-adjusted performance. Typically, when the ratio is negative, it means that the risk might not be worth the reward.

SUI Sharpe ratio
Sui Sharpe Ratio. Source: Messari

However, since it is positive for SUI, it indicates that accumulating the altcoin around its current value could still yield positive returns.

SUI Price Prediction: Run Above $4

On the daily chart, SUI continues to trade within an ascending channel. An ascending channel, also called a rising channel or channel up, is a chart pattern defined by two parallel upward-sloping lines. 

It forms when the price shows higher swing highs and higher swing lows, indicating an ongoing uptrend. Furthermore, the Chaikin Money Flow (CMF) has increased, suggesting that buying pressure has outpaced distribution.

Sui price analysis
Sui Daily Analysis. Source: TradingView

If this continues, SUI’s price could climb above $4. However, if a Sui network outage occurs again, this might not happen. In that scenario, the value could drop below $3.

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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Aptos Partners with Circle and Stripe to Revitalize Network

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The Aptos Foundation announced a new partnership with Circle and Stripe, hoping to revolutionize its network functionality. Circle’s CCTP and USDC stablecoin will enhance blockchain interoperability, while Stripe will attract TradFi by simplifying fiat interactions.

Aptos has set ambitious goals with this partnership, but APT’s upward momentum has stagnated.

Aptos Partners with Circle and Stripe

According to a new announcement from the Aptos (APT) Foundation, its network is integrating Circle’s USDC stablecoin and Cross-Chain Transfer Protocol (CCTP). Additionally, Aptos is integrating the payment platform Stripe, generally streamlining fiat-related features. These include on- and off-ramps, payment processing, and TradFi ease of adoption.

“Once the integration is complete, users will be able to seamlessly transfer USDC between Aptos and 8 major blockchains. In addition to USDC and CCTP, Stripe will soon launch its payment services on Aptos, creating a reliable fiat on-ramp to streamline merchant pay-ins and payouts using Aptos-compatible wallets,” the firm claimed via press release.

In other words, Aptos aims to use this partnership to make itself “the ultimate hub for interoperable DeFi.” These companies will approach this goal from both ends: enticing new users and investors while substantially improving the core experience. This partnership marks a new development for Stripe’s integration with crypto.

Indeed, Stripe took a six-year hiatus from cryptocurrency payments, which only ended this April. Since then, however, it’s been engaging seriously with the industry. The firm entered an earlier partnership with Circle this June, hoping to promote USDC adoption. Additionally, Stripe acquired Bridge, a crypto payment platform, last month.

For its part, Aptos is undertaking a recovery process. Despite a major price spike in March, it suffered a lingering decline for most of 2024. The asset began regaining steam in October, and the November bull market has brought increased optimism. Still, its gains have stagnated for about a week.

Aptos Price in 2024
Aptos Price in 2024. Source: BeInCrypto

This partnership between Aptos, Circle, and Stripe may help APT regain its forward momentum. These ambitious new features will greatly add functionality and accessibility to Aptos’ network. Still, the firm has set a very ambitious goal for itself: to solidify “its place as a leader in interoperable DeFi and enterprise-grade blockchain technology.” Only time can tell its success level.

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 ConditionsPrivacy Policy, and Disclaimers have been updated.



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