Home Blog Page 1121

Shiba Inu Lead Calls Top Exchange New Move for SHIB Very Interesting

Lele Jima
-
0
Shiba Inu Lead Calls Top Exchange New Move for SHIB Very Interesting

Leading crypto exchange Crypto.com is set to launch a promotional event for Shiba Inu, triggering a reaction from lead developer Shytoshi Kusama. 

Crypto.com is preparing to launch a promotional event enabling its users to earn SHIB by staking Cronos (CRO). The exchange quietly unveiled the offering in its Crypto Arena without issuing an official announcement. 

CryptoCom New Promotion for Shiba Inu 

However, a user brought the initiative to the attention of Shiba Inu community members, notifying them that they can earn SHIB by ‘locking up’ CRO. Notably, the promotion is among the upcoming events on Crypto.com’s Crypto Arena. 

According to the user, the staking exercise is expected to commence in the next 18 days, specifically by December 6, 2024. The exchange will open the staking platform on this date, allowing users to lock up their CRO tokens to earn SHIB rewards. 

Shiba Inu Lead Reacts 

Expectedly, the upcoming promo has attracted the attention of the broader Shiba Inu community, with Kusama characterizing the move as ‘very interesting.’ 

Besides being intrigued, Kusama’s reaction is part of efforts to raise awareness about the promotional event and encourage other SHIB community members to participate in the initiative. 

Interestingly, several members of the SHIBArmy have shown enthusiasm for the promo, with some users planning to stake their unused CRO when the portal officially opens next month.  

CryptoCom Support for SHIB 

Crypto.com has continued to throw its weight behind SHIB since it first listed the token in May 2021. This includes adding new trading pairs for SHIB, holding huge amounts of the token in its reserve, and promoting SHIB on the Google and Apple Stores. 

It has also unveiled several initiatives to drive SHIB’s adoption, including announcing a $15,000 Bitcoin reward for the trading of meme-based cryptocurrencies like Shiba Inu. 

Meanwhile, the upcoming staking initiative did not positively impact Shiba Inu’s price action. At press time, the token is trading at $0.00002523, down 1.14% over the last 24 hours and 12.92% in the past week.

AKT Breaks $4 Mark: Can Akash Network Hit New 52-Week High?

Albert Brown
-
0
AKT Breaks $4 Mark: Can Akash Network Hit New 52-Week High?

Will the Akash Network (AKT) price reach a new 52-week high as the bull run records a 103% rise in 16 days?

In the daily chart, AKT‘s price action shows a bullish reversal, breaking multiple resistance levels. As the trend momentum grows, the uptrend has crossed the $4 psychological mark and aims for a new 52-week high. Will this bullish recovery manage to surpass the $6.82 mark in 2024? Let’s find out. 

Akash Network (AKT) Price Analysis

The ongoing recovery run started from the $2.07 low and is currently trading at $4.2037. Notably, the token has seen an intraday gain of 10.92%. The ongoing bull run accounts for a massive gain of 103% over the last 16 days from $2.07 to $4.2613. 

The recovery rally has surpassed the 61.80% Fibonacci level at $4.09, revealing a massive bullish influence on the daily chart. 

Akash Network (AKT) Price Chart
Akash Network (AKT) Price Chart

The 50-day and 100-day EMAs are poised to give a bullish crossover. Furthermore, the MACD and signal line have surged significantly, intensifying the bullish histograms. Hence, the technical indicators cement a credible bullish trend with no divergences. 

As the bullish trend breaks a long-coming resistance trend line, the reversal rally in AKT price is now aiming for a new 52-week high. AKT’s price is approximately 38% below its 52-week high of $6.82, indicating room for growth in the ongoing recovery. 

Will the AKT Token Price Cross $8?

As one of the rising performers in the bull market, Akash Network’s token has yet to list on the Binance exchange. The AKT-USD pair listing on Binance will likely bring more liquidity into the system, with increased demands projecting its price potentially higher than its current all-time high of $8.04. 

Using the Fibonacci retracement tool, the immediate resistance levels for the altcoin are $4.90 and $6.19. However, if the bull run exceeds the current all-time high, the price targets will be shifted to $8.315 and $12.09. 

Hence, the AKT price analysis reveals an upside potential of nearly 200% for the Akash Network token. On the other hand, the crucial supports for the AKT price are present at $4.09 and $3.60.

HABR 150% Weekly Surge: Is Hedera Primed for the Next Big Breakout?

Albert Brown
-
0
HABR 150% Weekly Surge: Is Hedera Primed for the Next Big Breakout?

As the bull run in the Hedera (HABR) token hits $0.15, the rally targets an extension to $0.35 for a new 52-week high.

With a price jump of 150% over the last seven days, Hedera’s market cap has reached $5.452 billion. HBAR trades at $0.1445 at press time, with a 24-hour surge of 16.17%. 

Will the bullish trend in HBAR price result in a new 52-week high this November? Let’s analyze the current price trend to determine the next potential target levels. 

HBAR Price Analysis

On the daily chart, the HBAR token shows a massive V-shaped reversal rally, inching closer to its 52-week high. Starting from a low of $0.04159 earlier this month, HBAR’s bull run has propelled its price by  245% in the last two weeks. 

The bullish turnaround is challenging the 100% Fibonacci level at $0.1567. The intraday candle shows a potential doji formation following last night’s massive 60% surge. 

Hedera (HBAR) price chart
Hedera (HBAR) price chart

Over the last five days, it has made consecutive bullish candles, accounting for a nearly 150% surge. The bullish momentum has resulted in a positive crossover between the 50-day and 100-day EMA lines. Furthermore, it has increased the chances of a golden crossover between the 50-day and 200-day EMAs. 

The MACD and signal lines show extremely bullish histograms, supporting the bullish trend and reflecting strong momentum. As a result, the technical indicators are signaling a buy for Hedera.

Will Hedera (HBAR) Price Cross $0.25?

Speculation about a potential partnership between Hedera Hashgraph and SpaceX’s ambitious blockchain mission is fueling the HBAR/USD rally. As Hedera aims to play a key role in satellite payments, the bullish momentum in HBAR appears to be gaining strength.

Based on the Fibonacci levels, the continuation of the uptrend suggests price targets of $0.2249 and $0.355. This represents a potential 145% extension from the current market price.

On the other hand, a pullback could see the price retesting $0.1180 or the 78.60% Fibonacci level.

Bitcoin Could Start Rallying Towards $150K in the Next Two Days: Analysis

Abdulkarim Abdulwahab
-
0
Bitcoin Could Start Rallying Towards $150K in the Next Two Days: Analysis

Analyst Ali Martinez believes Bitcoin could commence the rally toward $150K within the next two days before a major correction.

Bitcoin has been in a holding pattern for the past few days with no significant price movements, unlike the sharp fluctuations seen in previous weeks.

Since Bitcoin’s peak of $93,500 on November 13, it has struggled to move higher. While it underwent a mild correction, dropping to $86,682, it has since rebounded to $92,600.

Over the past six days, Bitcoin has oscillated between $89K and $91K, with no major price changes. In this passive market, participants are both cautious and excited, anticipating either a significant dip or a sharp upward move.

Meanwhile, analysts like Ali Martinez are examining historical trends to forecast Bitcoin’s next possible movement.

History Suggests Bitcoin Could Reach $138K Before a Major Correction

In an update earlier today, Martinez pointed out that during the 2016/2017 bull season, Bitcoin surged 156% past its previous all-time high before the first major correction, which wiped out 39% of its value. 

Similarly, he noted that in the 2020/2021 cycle, Bitcoin’s value grew by 121% before experiencing a 32% correction that erased some of those gains. Based on these observations, he suggested that Bitcoin could reach at least $138,000 before facing its first major pullback. 

Image

Bitcoin Bull Breakout Could Happen in Two Days with $150K Target

Meanwhile, in a follow-up post, Martinez stressed that Bitcoin is closely mirroring the pattern of the previous two bull cycles.

He previously noted that after Bitcoin reclaimed the $19,700 peak in the last season, it surged 26% before consolidating for a week. The consolidation was followed by a massive price jump to $40,000.

Remarkably, in the current case, Bitcoin has surged 26.7% above its March peak of $73,750 and has been consolidating for the past six days since hitting a new peak of $93,500.

Accordingly, Martinez believes that, if history is any guide, the market could see another breakout in the next day or two, with a target of around $150,000.

Potential Price Targets During Post-Bull Corrections

Notably, the $150K target aligns with the historical trend of Bitcoin often seeing gains of 100% or more after surpassing previous all-time highs before experiencing a major correction of around 30%. 

If this scenario plays out, a correction could push Bitcoin back to $105K if it first claims the $150K target or to $96K if the peak is closer to $138K.

Meanwhile, Martinez has highlighted the $83K to $85K and $72K to $75K price ranges as potential areas of support in case the market flips from bullish to bearish.

Strong XRP Critic Predicts Explosive XRP Push Once 2021 High of $1.96 Clears

Sam Wisdom Raphael
-
0
Strong XRP Critic Predicts Explosive XRP Push Once 2021 High of $1.96 Clears

Peter Brandt, a long-term XRP critic, believes the current setup for XRP signals extreme bullishness if it can breach the 2021 peak.

XRP recently achieved a major milestone, crossing the $1 mark for the first time in nearly three years. The recent development has triggered optimism among investors and analysts, with most expecting further upside from this point.

Surprisingly, Peter Brandt, a renowned trader and vocal critic of XRP, now acknowledges the potential for explosive growth if XRP can break above key levels. His latest analysis suggests a promising setup for XRP, despite his predominantly skeptical stance.

XRP’s Coil Pattern 

The accompanying chart reveals a symmetrical triangle or “coil” pattern which signals tightening price action over an extended period. This structure began forming following XRP’s drop from its all-time high of $3.31 in early 2018. 

As XRP continued to witness lower highs and higher lows from this level, the triangle formed a descending resistance from the 2018 peak and an ascending support line originating in 2020. This shows consolidation, with diminishing volatility suggesting an impending breakout.

XRP 1W Chart Peter Brandt
XRP 1W Chart | Peter Brandt

XRP’s recent move above $1 confirms a breakout from the upper boundary of this multi-year triangle. This is a massive event, as XRP cleared its 2023 high of $0.93 during this surge. 

Following a reclamation of the $1 mark, the altcoin reached a peak of $1.265 on Nov. 16 before retracing slightly. Currently, it trades around $1.11, maintaining its position above the critical psychological level of $1.

Data from Brandt’s chart confirms that the 8-week simple moving average (SMA) currently sits at $0.6775, suggesting strong upward momentum. Additionally, XRP is witnessing increasing trading volume during the breakout. This further validates the uptrend potential. 

In addition, the chart shows lower values in the Average True Range (ATR) and Average Directional Index (ADX), confirming that volatility is contracting at press time, a sign of a potential explosive push.

Brandt Expects XRP Rally

Peter Brandt called attention to the $1.96 resistance level, which XRP attained in April 2021 during the previous market run. Breaking this level could trigger a massive rally.

Using emoticons, Brandt suggested a “rocket-like” move if XRP successfully clears the $1.96 barrier. Nonetheless, the analyst failed to provide any actual price target.

Despite his bullish outlook, Brandt clarified that he does not hold or plan to invest in XRP. According to him, he remains loyal to Bitcoin (BTC) and Solana (SOL), while also being involved with non-fungible tokens (NFTs) through his Chart Wizards project.

Veteran Analyst Peter Brandt Says Solana Swing Can Push Prices to $274

Elendu Benedict
-
0
Veteran Analyst Peter Brandt Says Solana Swing Can Push Prices to $274

Market veteran Peter Brandt has identified the next price target for Solana, citing a continuation of its swing uptrend pattern.

Solana defied the consolidation phase prevalent in the broader crypto market when it surged considerably on Sunday. The bullish momentum spilled into the new week, with the Solana price reaching a peak of $248.

Notably, the fourth-largest cryptocurrency by market has surged 11% in the past seven days, taking its market cap to $115 billion. Solana’s rise has also solidified its place above the Binance Coin (BNB) after overtaking the asset early in November while keeping it on course to track down the leading stablecoin USDT.

Amid the upsurge, veteran analyst Peter Brandt has provided an update on Solana’s next likely price target. In his recent analysis, the seasoned trader expects the bullish momentum to continue, giving reasons for his assertions.

Brandt Expects Further Upsurge to $274

In a Monday tweet, Brandt explained that asset prices move in a swing most of the time. He noted that these swings are often relatively equal, exacting an identical upsurge on the underlying asset.

The market veteran identified that Solana’s past price appreciation followed a swing pattern, with the asset surging from sub-$160 to $225 early in November. Notably, SOL rallied 45% during the uptrend amid the broader market push.

As a result, Brandt noted that Solana may be on the path of a similar uptrend with its latest swing. In an accompanying chart, the analyst shows that the ongoing swing started at $201, speculating that it would propel the asset past its current all-time high of $260.06 to $274.

Solana to $274 per Brandt
Solana to $274 per Brandt

Meanwhile, SOL is almost halfway through the swing, trading at $243.31 at the time of writing. Hence, Brandt expects further upside for the Ethereum killer, targeting a 12.7% growth to $274.

Notably, Brandt emphasized that, unlike the Elliott traders who use the swing targets as a precise indicator, he uses the pattern as a guide.

Solana Technical Analysis

Meanwhile, technical analysis of Solana’s 1D timeframe shows mixed momentum for the asset. SOL’s relative strength indicator (RSI) stands at 76.05, well above the overbought threshold of 70.

However, the MACD indicator signals strong bullish momentum as the MACD line continues to move further away from the signal line. The MACD line stands at 18.48, while the signal line rests on 14.93.

Solana Technical Analysis
Solana Technical Analysis

Furthermore, Solana’s 4-hour chart also presents a mixed scenario. The MACD indicator shows an imminent bearish crossover, with the MACD line at 7.25 and the signal line at 6.93. However, the RSI remains below the overbought threshold, trending at 65.80.

Fundstrat Exec Sees Bitcoin Comfortably Trading Above $100K This Year

Lele Jima
-
0
Fundstrat Exec Sees Bitcoin Comfortably Trading Above $100K This Year

Tom Lee, Head of Research at Fundstrat, expresses confidence in Bitcoin comfortably surpassing the $100,000 mark by 2024 ending. 

Lee issued the forecast during his appearance on CNBC while providing his optimistic outlook for the world’s largest cryptocurrency. The Fundstrat executive suggests that Bitcoin would comfortably trade above $100,000 by the end of the year. 

This prediction caught the attention of several crypto executives, including MicroStrategy Executive Chairman Michael Saylor. 

At the time of his forecast, Bitcoin was trading at around $90,500, indicating that the industry firstborn must surge 10.49% to reach the $100,000 target. 

In February, Lee set his end-of-year target for Bitcoin at $150,000, driven by factors such as Bitcoin ETFs, halving, and interest rate reduction. However, he has reduced it by 33.33% to $100,000. 

Bitcoin Performance Aligns with Post-Halving Expectations 

In addition, Lee emphasized that Bitcoin’s current market conditions align with how the asset should perform post-halving. 

Historically, BTC usually experiences significant growth after the Bitcoin Halving event, which reduced miners’ rewards and BTC inflation rate, contributing to a price increase. Bitcoin’s latest surge to the $90,000 mark comes seven months after the latest halving event. 

Other Bullish Outlook 

Furthermore, Lee predicted that Bitcoin would perform well over the next 12 months. In addition, the Fundstrat executive highlighted Bitcoin’s potential, particularly under the Donald Trump-led administration. 

According to him, Bitcoin is an essential focus of the next administration’s economic considerations, which could include utilizing it as a reserve asset. Lee noted that this move would address some inherent issues within the current financial system. 

Meanwhile, investors are expecting cryptocurrencies, including Bitcoin, to thrive under the next administration due to Trump’s remarkable promises for the sector. 

Trump said his administration would ensure that the U.S. has a national Bitcoin stockpile, allowing the country to hold BTC as a reserve asset. This aligns with the draft Bitcoin Act bill by Senator Cynthia Lummis (R-WY).  

The bill proposes that America acquire 5% of Bitcoin’s supply over the next five years. Following the acquisition, the bill recommends that the U.S. government hold the asset for at least 20 years. 

The proposal has boosted investors’ confidence in Bitcoin, with several companies issuing favorable forecasts for the asset. 

Yesterday, Bernstein projected that Bitcoin would surge to $200,000 by next year, potentially driven by Donald Trump’s pro-crypto promises, the U.S. national Bitcoin reserve proposal, and growing institutional demand. 

Goldman Sachs and XRP Partnership: World Economic Forum Member Spotlights Rumors

Abdulkarim Abdulwahab
-
0
Goldman Sachs and XRP Partnership: World Economic Forum Member Spotlights Rumors

Shawn Oroogle, a member of the World Economic Forum, recently raised awareness about rumors suggesting a potential announcement regarding an alliance between XRP, Hedera (HBAR), and Goldman Sachs.

While Shawn acknowledged that it was just a rumor and stated that he was “gathering more evidence,” he did not provide any concrete foundation for the speculation. 

Nevertheless, his tweet sparked interest within the crypto community, especially among the XRP Army. Many expressed excitement that something “big” may be coming for XRP.

To fuel the speculation, some have pointed to a past conversation between Ripple CEO Brad Garlinghouse and Hedera Co-Founder Leemon Baird, during which they discussed a possible blockchain collaboration.

However, while Ripple and Hedera may have some connection, the potential involvement of Goldman Sachs in such a partnership remains unconfirmed as of press time. 

Meanwhile, this speculation coincided with news that Goldman Sachs is pursuing new ventures in the blockchain space.

Goldman Sachs’ Latest Move in Crypto

Yesterday, Bloomberg reported that Goldman Sachs Group is in talks with potential partners to spin off its digital asset platform into an independent entity. This new entity would focus on enabling large financial institutions to create, trade, and settle financial products using blockchain technology.

For context, Goldman Sachs established its Digital Assets Platform in 2022 to facilitate the issuing of traditional financial products via blockchain. Since then, the platform has been involved in several high-profile transactions, including bonds for the European Investment Bank.

While the new independent entity will eventually own the platform, Goldman Sachs will retain its digital assets team and continue to expand its broader operations in the digital assets sector.

Essentially, this newly announced move from Goldman Sachs has no direct connection to Ripple or XRP.

Ripple and Hedera’s Collaboration

Meanwhile, Ripple and Hedera do have some established connections. In May, XRPL Labs and Ripple joined Hedera and other industry leaders as founding members of the DeRec Alliance.

The DeRec protocol aims to simplify the recovery and security of digital assets, accounts, and private keys by enabling users to securely recover secrets through a network of trusted helpers.

Additionally, in September, Ripple and Hedera became founding members of the MiCA Crypto Alliance, which aims to help blockchain projects comply with the EU’s Markets in Crypto-Assets (MiCA) regulation.

As part of this alliance, the two companies will collaborate to meet MiCA’s requirements for transparency, consumer protection, and sustainability, particularly concerning climate impact disclosures for crypto service providers.

The Bottom Line

While rumors about a potential partnership between XRP, Hedera, and Goldman Sachs have generated excitement in the crypto community, there is currently no concrete evidence to support the speculation. 

Goldman Sachs’ recent move to spin off its digital assets platform is unrelated to Ripple or XRP. However, Ripple and Hedera continue to collaborate on various initiatives in the blockchain space.

XRP ETP Tops $140M AUM Amid Growing Demand

Elendu Benedict
-
0

A leading XRP exchange-traded product (ETP) issuer has recorded a significant milestone, with its fund reaching $140 million in AUM.

The asset under management (AUM) of AXRP, a major XRP ETP issued by 21Shares, has crossed a major milestone. In a Monday tweet, the Zurich-headquartered asset manager revealed that its XRP investment product has surpassed the $100-million AUM mark.

21Shares XRP ETP Cross $140M in AUM

Launched in April 2019, the 21Shares Ripple XRP ETP (AXRP) is an investment vehicle that offers investors alternative means of exposure to the sixth-largest cryptocurrency by market cap. The fund trades in major European exchanges, including the SIX Swiss Exchange and the Euronext Paris.

21Shares announced that AXRP has crossed $100 million in AUM, with its official website showing the product now holds $142 million as of Monday. This remarkable milestone comes amidst growing global interest in the XRPL native token.

As of November 18, AXRP’s net asset value per unit is $32.92. The fund, which is 100% physically backed by XRP, has also recorded impressive price returns in the past month and year.

For context, data confirms that AXRP has grown 113.25% in the last 30 days and 95.32% over the past three months. The ETP has appreciated 97.87% on a year-to-date basis, taking its lifespan’s uptick to 225.32%.

It bears mentioning that the XRP ETP is not the same as an ETF. An ETP is a broad range of securities products that track the performance of an underlying asset, which an ETF is a type of. An ETP includes other products like exchange-traded notes (ETN) and exchange-traded commodities (ETC).

Growing Institutional Traction to XRP

Notably, the fund’s growth mirrors the growing global traction towards XRP amid confidence in regulatory clarity for the asset in the United States. For context, the electoral triumph for pro-crypto Donald Trump has sparked speculations of SEC chair Gary Gensler’s sack and a possible settlement of the Ripple vs. SEC case.

Meanwhile, 21Shares’ US entity has already filed for an XRP spot ETF, becoming the third asset manager to do so. Issuers like Bitwise and Canary also applied with the SEC for the investment tool, signaling growing demand for the asset.

Furthermore, Grayscale may also be eyeing the fund following the launch of the XRP Trust in September. The leading asset manager has a history of converting trust funds to ETFs, as seen in Bitcoin and Ethereum’s cases.

Here’s How High Dogecoin Can Rise if BTC Hits $250K, ETH Claims $15K and XRP Reaches $5

Sam Wisdom Raphael
-
0

An analyst with nearly two decades of experience predicts Dogecoin price in a market scenario where Bitcoin, Ethereum and XRP respectively hit $250,000, $15,000 and $5.

The crypto market has been showing visible signs of immense potential over the past two weeks. The conclusion of the Nov. 5 U.S. presidential election has reignited optimism among market participants, as Bitcoin (BTC) claims a new ATH above $93K and altcoins see rapid spikes. 

Crypto Market in a Bullish Phase

Amid the prevalent bullishness, multiple market speculators have adjusted their price targets for most of the market. Ash Crypto, a notable market analyst, is one such individual. 

In a recent disclosure, he presented new targets for Bitcoin and 15 other crypto assets, including Ethereum, XRP and Dogecoin (DOGE), for the next six to 12 months. The latest prediction came on the back of a consolidation phase that saw BTC drop 3.52% and DOGE collapse by as much as 9.14% on Nov. 14. 

The analyst suggested that Bitcoin, which currently changes hands at $91,165, could skyrocket to a price range of $150,000 to $250,000 from now till Q4 2025. This would mark a gain of 65% to 174% for BTC. 

Further, his price target for Ethereum, the altcoin king, sits between $10,000 and $15,000. With ETH currently trading or $3,150, it would need to rally between 217% and 376% to reach this range. Ash also predicts that XRP could surge between 228% and 447% to reach a price of $3 to $5.

Dogecoin Price Prediction 

Meanwhile, in a market scenario with such performance, the analyst believes Dogecoin could perform admirably well. Dogecoin currently changes hands at $0.377, having increased 137% since Nov. 3. Ash Crypto sees DOGE rallying by another 165% to $1 as its minimum top price for the ongoing bull run. 

Ash Crypto on X
Ash Crypto on X

However, he also expects the original meme coin to expand further from the $1 to a price of $3 if market conditions are favorable. For Dogecoin to claim the $3 level, it would need to rally by a massive 695%, possibly making it one of the top performers in the market.

Dogecoin’s remarkable upsurge over the last two weeks suggest that such a rally might be feasible for the meme coin. Also, following the 2020 presidential election that preceded the bull run at the time, DOGE rallied from $0.00257 in November 2020 to its ATH of $0.7399 in May 2021, marking a 28,456% rise in seven months.

If the meme coin replicates only a tenth of the 2020/2021 rally, its price can surpass the $3 price target. However, Dogecoin would have a hard time surging by such magnitude in this bull run due to its market size. For context, a $3 price would place DOGE at a $440 billion market cap.

1...1,1201,1211,122...2,662Page 1,121 of 2,662