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Shiba Inu To Surpass $0.00007 As Top Trader Identifies Long-Term SHIB Accumulation Zone

Abdulkarim Abdulwahab
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Shiba Inu To Surpass $0.00007 As Top Trader Identifies Long-Term SHIB Accumulation Zone

Analyst Alan Santana is confident in another major Shiba Inu bull run, projecting a significant price beyond the $0.00007 target amid ongoing accumulation.

Shiba Inu has experienced a 5.2% gain in the last 24 hours, currently trading at $0.00001772. Despite this rise, Shiba Inu is still facing a loss of 9.46% from the higher price of $0.0000195 it reached last week.

Amid this, notable market analyst Alan Santana on TradingView has asserted that the current price of Shiba Inu represents a significant low. He argued it will likely be the final accumulation zone before a potential dramatic uptrend in the coming months.

For context, this analyst is expecting a rally up to the $0.00007 price level in the near term for SHIB.

Shiba Inu at Final Accumulation Zone

In his analysis, Santana noted that as 2025 approaches, the altcoin market is entering its final accumulation phase of 2024, offering a last chance to buy at lower prices before a major bull market.

Meanwhile, he explained that this phase will last several months, giving investors ample time to act. Santana highlighted that current bearish trends align with his earlier predictions in the “Pre-2025 Bull Market” series, which anticipated one final dip for popular altcoins before significant growth.

He emphasized a buy-and-hold strategy and discussed trading methods and market psychology. He expressed confidence that this scenario is unfolding, suggesting investors will feel assured about a substantial bull run in 2025 if it materializes.

Accordingly, Santana commented on Shiba Inu’s recent modest rise, noting it was not surprising. Specifically, in late September, SHIB surged to $0.000021, a three-month high, before retracing.

Shiba Inu to Have More Promising 2025

The analyst expects the current drop to last a few weeks, followed by several months of recovery, leading to sustained growth in 2025. 

According to Santana, anticipating drops allows for better preparation and strategic adjustments. He noted that price action only impacts investors if unexpected, asserting that the current movements are unfolding as planned.

For experienced investors, Santana noted this situation presents an opportunity to sell and buy back at lower prices. For beginners, holding through this phase is a viable strategy, as the entire cycle is expected to unfold over just a few months.

Santana projects that Shiba Inu will rally toward $0.00007 following a breakout from the current consolidation before moving to retest its 2021 all-time high by early 2025.

Shiba Inu accumulation zone before
Shiba Inu accumulation zone before rallying above $0.00007

Analyst Predicts Solana is Set for a 20% Drop to $121

Elendu Benedict
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Analyst Predicts Solana is Set for a 20% Drop to $121

Crypto analyst Alan Santana predicts that Solana might correct 20% to trade at a price mark last seen in early August.

Despite Solana’s recent patchy run, the fifth-largest crypto asset by market cap has blossomed in the past year. Per CoinMarketCap, SOL is up 527% from its price on October 5, 2023.

Notably, Solana is up 3% in the past 24 hours but down 7% in the past seven days. The “Ethereum Killer” is down 10% from its $160.91 weekly high, attained on September 29. Notably, SOL dropped on four consecutive days before a slight pullback yesterday.

Amidst the reserved price uptrend, analyst Alan Santana expects Solana to correct further. In a TradingView analysis, the speculator noted that SOL could drop another 20% to trade at a two-month low of $121.

Impending Solana Crash?

Santana cited a notable price behavior in the SOLUSD chart since March as a possible indicator of the continued downtrend. According to analogy, each Solana pump lasts between 20 and 30 days, while a price dump happens between 7 and 14 days.

The market analyst stated that the last major SOL capitulation lasted for eight days, with the asset consolidating for 55 days from then. For context, Solana dropped from a price high of $193 on July 29 to a low of $111 on August 5 before consolidating to the $161 high seen on September 29.

Furthermore, Santana noted that Solana has resumed another phase of a price downtrend, which might take it to $121. At the current market price of $144, the drop to $121 would translate to a 20% downtrend.

Price Prediction Invalidated?

Meanwhile, Solana closed strong on Friday after recording a 4.67% gain. Compared to the last price capitulation, SOL’s bullish engulfing on the 1D chart may have invalidated Santana’s price prediction.

During the July 29 to August 5 crash, SOL closed bearish on all eight days, as bearish momentum glared on its price movement. Notably, a bullish close today may invalidate Santana’s $121 price speculation.

Moreover, surging on-chain activities on the Solana network have been tipped to push SOL to the next crucial resistance at $186. Per the report, decentralized finance (DeFi) protocols in the Solana ecosystem have seen notable on-chain traction, spreading bullish sentiments around the blockchain.

Even XRP Worst Case Scenario To Take XRP To $6: Top Analyst Predicts

Sam Wisdom Raphael
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Even XRP Worst Case Scenario To Take XRP To $6: Top Analyst Predicts

EGRAG, a prominent crypto analyst, has presented a worst-case scenario for XRP during this current bull run, predicting potential price targets for the altcoin.

In a post on X, EGRAG shared two approaches based on historical patterns and technical analysis, showcasing two charts that support his projections. The analysis comes amid XRP’s price collapse amid the broader market downturn.

A Rebound From SEC-Related Drop: Target of $5 to $6

EGRAG first compared the current setup to December 2020, when XRP faced a sharp drop due to the SEC lawsuit. However, despite this setback, XRP managed to make a remarkable recovery, experiencing a 10X surge from the bottom. 

In a similar scenario, should XRP face another downturn after the SEC’s appeal, there could be a rally afterward, which could see it rise to a range of $5 to $6. The Fibonacci 1.618 level sits at $6.5, indicating that XRP could reach this level in a bullish extension.

Notably, XRP has already witnessed a drop triggered by the SEC’s appeal notice. Following the development, XRP collapsed 9%, culminating in a 19% slump in four days. The accompanying chart shows the price reacting to various support and resistance levels, with the $0.52 support recently holding firm.

XRP 1W Chart EGRAG Crypto
XRP 1W Chart | EGRAG Crypto

A key resistance is the $1.97 level, aligning with the 0.702 Fibonacci retracement level. This level is crucial, as a break above it could lead XRP toward higher targets of $3.51 and beyond. The Fibonacci 1.0 level at $3.514 acts as a mid-range target that XRP must break through to head toward its higher targets.

The Crypto Basic also confirmed this market condition, noting that XRP could clinch $6 if it recovers like in December 2020 when the SEC first filed the lawsuit. EGRAG believes that this worst-case scenario can still lead to positive outcomes for holders of XRP even with unique regulatory hurdles.

Bitcoin’s Influence on Altcoins

The second approach EGRAG used focuses on Bitcoin’s price movements. In the 2021 bull run, Bitcoin reached a high of $68,000, while XRP managed to peak at $1.96. 

Drawing from this correlation between Bitcoin’s price and XRP’s performance, EGRAG projects XRP’s possible movements if Bitcoin experiences similar gains in the next cycle.

If Bitcoin reaches a peak of $74,000, a moderate rise from its previous all-time high, XRP might see a price target of $2.31. 

Meanwhile, should Bitcoin reach more ambitious targets between $80,000 and $100,000, XRP could correspondingly rise between $2.88 and even higher, depending on market momentum and overall sentiment during the cycle.

At press time, XRP trades for $0.5296, having recovered by a meager 0.70% over the past 24 hours. While this rebound is not substantial, it confirms that XRP has found robust support at $0.52 and the price is starting to stabilize following the massive crash from the SEC’s appeal notice.

Market Expert Predicts Shiba Inu Rise to $0.00005, $0.0001 and $0.0002

Sam Wisdom Raphael
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Market Expert Predicts Shiba Inu Rise to $0.00005, $0.0001 and $0.0002

In a recent analysis by market expert Alan Santana on TradingView, he presents optimistic outlook for Shiba Inu, predicting massive price increases. 

His chart and technical commentary indicate that Shiba Inu could potentially rise to impressive price points of $0.00005, $0.0001, and even $0.0002, given current market conditions and trends.

SHIB’s Bullish Foundation

During his analysis, Santana argued that Shiba Inu entered a bullish phase starting in June 2023 when it reached its bottom. For context, amid a broader market decline during the bear market last year, SHIB collapsed to a floor price of $0.00000543, the lowest in over two years.

This marked the beginning of what Santana calls a recovery wave or the initial bullish breakout. The pattern that followed, which peaked in March 2024, saw a strong surge in SHIB prices, confirming the start of Phase 1 of a broader bull market. 

Shiba Inu 1W Chart Alan Santana
Shiba Inu 1W Chart | Alan Santana

After peaking in early 2024 when it surged to a two-and-a-half-year top of $0.000045, SHIB experienced a correction phase that concluded in August 2024, with a low of $0.00001078. Significantly, this August low was higher than the June 2023 low, a signal that SHIB is in bullish territory.

Shiba Inu Shows Growth Potential

Santana noted that despite short-term fluctuations, the long-term trend remains bullish. Shiba Inu may experience minor corrections or retracements in the near term, but these dips are expected to be followed by higher lows and higher highs, continuing the bullish cycle. 

Santana believes the broader market trend signals strong potential for substantial gains by 2025. The bull market is likely to gather momentum, particularly after February 2025, when Santana predicts the market will enter its maximum speed phase. 

This will be the point when even late adopters start recognizing the ongoing bullish trend. The chart shows that Shiba Inu could first reach $0.00005682, which represents a 205% gain from current levels. This target is followed by $0.00013994, marking a 654% increase, and ultimately a rise to $0.00022321, representing a 1,111% growth.

Santana mentioned that the new all-time high for Shiba Inu could come in Q3 or Q4 2025 as the market matures. This peak aligns with broader market cycles that typically see the most rapid growth during the later stages of a bull market. 

He argued that the most significant growth spurts are likely to occur after February 2025, with March 2025 marking a key turning point where the bull market will become apparent to most traders and investors.

Analyst Says Cardano Price Correction Likely Not Over

Elendu Benedict
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Analyst Says Cardano Price Correction Likely Not Over

In a recent analysis, market commentator Alan Santana asserted that the Cardano price correction is likely not over yet.

Cardano has corrected considerably in the past seven days amidst a wider market drawdown due to geopolitical tensions. ADA has relapsed 11.37% in the past week, with a slight increment in the past 24 hours.

Notably, the crypto market has shown signs of recovery in the past two days. For context, Bitcoin has risen 3.5% from its $60,000 lows on Thursday to trade at $62,142, leading to a slight uptrend in altcoins. However, analyst Alan Santana has speculated that the Cardano network’s native token, ADA, will continue its downtrend.

Analyst Predicts ADA Dump to 23 Cents

In a TradingView analysis, Santana speculated that ADA would continue its recent downtrend, targeting the $0.2367 price range. Notably, the impending correction accounts for a 33.4% depreciation from ADA’s current market price of $0.3552. He based his price call on ADA reaching the base of its bullish expanding triangle pattern.

ADA Price Analysis per Santana
ADA Price Analysis per Santana

Sanatana noted that ADA has shown inherent price weakness, as it failed to touch the major resistance at its MA200 trend line during its last uptrend. According to him, the low trading volume and lack of bullish momentum seen in the price chart signal that the downtrend is not over yet.

Furthermore, Santana stated that the next correction to $0.2367 will likely be the last phase of the downtrend before a notable price recovery. Notably, the analyst’s chart shows that ADA’s price correction started in March when it was rejected at the yearly high of $0.7742.

Massive Pullback After Recovery Phase

Meanwhile, Santana speculated that Cardano would experience a prolonged recovery phase if it held the $0.236 region at the baseline of its bullish expanding triangle. Per the analysis, ADA could surge extensively, targeting the MA200 resistance at $0.4326.

The analyst asserted that a break above the resistance will push ADA to its yearly high at $0.7742. However, he noted that it might take Cardano till the latter part of Q1 2025 to reach that level.

Notably, Sanatana is not the only analyst calling for a further correction in Cardano’s price. An earlier report showed that analyst Ray Trader predicted that ADA would fall to $0.15. The experienced trader argued that Cardano’s fall below $0.4 was a good sign to short the asset to a price level last seen in 2021.

Top Exchange Mentions Shiba Inu As a Star Coin

Lele Jima
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Top Exchange Mentions Shiba Inu As a Star Coin

Leading crypto exchange Bitstamp provides an overview of Shiba Inu, suggesting that SHIB is a star coin. 

Bitstamp gave the analysis in a recent X post titled “Shiba Inu Spotlight!” Interestingly, the exchange placed Shiba Inu in between two bright stars. This triggered speculation that the exchange could be referring to SHIB as a star coin. 

Shiba Inu Transformational Journey

Notably, Bitstamp’s overview of Shiba Inu highlights the token’s transformational journey from a memecoin to a coin with growing utility. According to Bitstamp, Shiba Inu was created in 2020 by a pseudonymous developer, Ryoshi, with solid backing from its vibrant community. 

Although Shiba Inu started as a memecoin, Bitstamp indicated that the token’s utility cut across various sectors, including decentralized finance (DeFi) and non-fungible tokens (NFTs). 

Bitstamp Spotlights Shiba Inu’s New Game 

Specifically, Bitstamp mentioned Shiba Inu’s new game, Shiboshi Rush, as one of the cryptocurrency’s utility projects. Recall that Shiboshi Rush was introduced recently by PlayWithShib, the cryptocurrency’s gaming arm. 

The action-packed adventure game enables players to battle and eliminate evil Shadowcats. Commenting on Shiboshi Rush’s release, Bitstamp said the game further expands the Shiba Inu ecosystem, incorporating both blockchain and NFT features. 

It bears mentioning that Bitstamp’s post is part of the exchange’s efforts to promote the widespread adoption of Shiba Inu. The exchange portrays Shiba Inu as a star coin that has transformed from a memecoin to a token with growing utility, highlighting Shiboshi Rush as a project that further expands the cryptocurrency ecosystem. 

Shiba Inu’s Path to Stardom 

Shiba Inu has proven itself to be a viable crypto project. After its launch, many crypto stakeholders initially wrote off Shiba Inu as just another memecoin experiment, but SHIB stunned the industry with its remarkable success. 

Following its launch, Shiba Inu surged by over 150 million percent in over a year, hitting an all-time high of $0.00008845 on October 28, 2021. Ever since, Shiba Inu has grown from a token to an ecosystem, with enormous projects like a Layer-2 blockchain (Shibarium), NFTs (Shiboshi, games (Shiba Eternity and Shiboshi Rush), and Shib Name Service, among others. 

In the meantime, the price of Shiba Inu has rebounded after plunging below $0.000016 earlier this week amid rising geopolitical tension in the Middle East. Currently, Shiba Inu is trading above $0.000017, with a token priced at $0.00001760, reflecting a 7.26% surge in the past 24 hours. 

SHIBUSDT 2024 10 05 08 24 13
SHIBUSDT 2024 10 05 08 24 13

Expert Says It Would Be Weird if XRP Doesn’t Hit $20 This Bull Run

Abdulkarim Abdulwahab
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0
Expert Says It Would Be Weird if XRP Doesn’t Hit $20 This Bull Run

A widely followed market commentator and YouTuber with the handle “ModernInvest” has expressed that it would be strange if XRP fails to crack $20 in this bull season.

The price of XRP is swiftly recovering from significant selling pressure that nearly forced its value towards the $0.50 level earlier this week. It is trading at $0.5322 at press time, posting a 1.45% gain in the last 24 hours.

This figure marks a notable improvement from the low of $0.5101 that XRP tested on Thursday, the day the SEC announced its intention to appeal. However, XRP is still nursing a 9.5% loss in its weekly performance.

While the SEC’s action temporarily stalled XRP’s ongoing bull run, market watchers like ModernInvest remain confident about XRP’s trajectory in this cycle.

In a recent video, the analyst argued that it would indeed be “weird” if XRP’s bull run did not propel it to at least $20. He emphasized that, given all the momentum in the XRP ecosystem, it would be odd for XRP to fail to reach such a high mark.

Thesis for Why XRP Should Reach $20 This Season

First, he noted that every transaction on the XRP network burns XRP. He highlighted that the quantity of burned XRP tokens would only increase if the XRP network began processing transactions worth billions of dollars monthly, particularly with the anticipated launch of the Ripple RLUSD stablecoin.

Ripple’s RLUSD stablecoin is set to launch in the final quarter of 2024. It will initially be available exclusively on the XRP Ledger and Ethereum. Industry experts have outlined several ways RLUSD could benefit XRP, including increased liquidity.

As of today, approximately 12.88 million XRP tokens have been burned from its maximum supply of 100 billion tokens. This burn figure continues to grow with each transaction on the XRP network. 

Given that no new tokens are introduced into circulation while existing tokens are burned, XRP is characterized as operating under a deflationary model.

Market observers like ModernInvest believe this deflationary model is a bullish factor for XRP. The burn rate is expected to increase with larger transactions on the network, limiting the available supply of XRP and supporting a higher price.

Another factor ModernInvest cited to support his bullish outlook for XRP is the recently launched Grayscale XRP Trust. The trust’s net asset value surged by over 11% after its first week, signaling increased institutional interest. The Trust currently has assets under management (AUM) of $1,985,776.

Additionally, an XRP ETF is now in the works, as Bitwise has filed an application with the SEC. This is expected to further heighten demand for XRP, supporting the price growth thesis.

ModernInvest also noted that, beyond institutional interest, retail investors and crypto whales are significantly accumulating XRP.

XRP Needs 3,657% Growth

Based on these factors, ModernInvest expressed a strong belief that failing to rally to $20 by next year would be “weird.” Notably, XRP would need to rally by 3,657% from its current price level to reach $20.

XRP Continues to Follow 2017 Fractal, with Target Exceeding $16

Sam Wisdom Raphael
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XRP Continues to Follow 2017 Fractal, with Target Exceeding $16

Notable market analyst Lud recently shared a fractal-based analysis suggesting XRP could replicate its price trajectory from 2017. 

In his initial analysis shared in June this year, Lud identified a repeating fractal from XRP’s 2017 price action, indicating the cryptocurrency might follow a similar trajectory in 2024. 

Initial Analysis: XRP Trails 2017 Movements 

The chart shows XRP’s price history from 2014, calling attention to an important consolidation period where prices flattened and formed symmetrical triangles. These patterns, which featured lower lows and the lower highs, suggested then that XRP was preparing for a breakout.

The analyst leveraged Fibonacci retracement levels, which helped him pinpoint important support and resistance zones. Notably, the 0.5 Fibonacci (FIB) level was very crucial in 2017, where XRP’s price faced strong resistance before a breakout. 

XRP 3D Chart Lud
XRP 3D Chart | Lud

Lud’s chart shows that XRP started forming a similar triangle pattern in the current market cycle leading up to July 2024, with the price struggling to break through key resistance points around the 0.5 Fibonacci line.

The 2017 fractal shows a parabolic move from the 0.5 Fibonacci level, catapulting XRP from under $0.50 to a high near $3.50. This marked XRP’s all-time high, with the altcoin unable to surpass the level during the 2021 bull run due to regulatory challenges.

However, with XRP now declared a non-security, Lud projected in July that if XRP follows this historical fractal, it could achieve a breakout that would see the altcoin rise to $16, a level he highlighted in the upper section of the chart. 

XRP Continues to Follow the Fractal

Most recently, Lud presented an updated analysis, suggesting that XRP continues to follow the fractal laid out earlier. Despite price fluctuations, including a brief “shakeout” (a drop designed to push weak hands out of the market), XRP’s movement still fits within the historical pattern from 2017. 

The updated analysis shows recent price action, indicating that XRP has remained within a range, exhibiting consolidation around $0.50 and showing resilience in holding key support levels. One of those support levels is the $0.52 region, which XRP upheld amid the latest drop following the SEC’s appeal notice.

The updated chart shows a red box displaying a lateral movement which depicts the fractal’s consolidation phase just before the breakout in 2017. Lud sees this as a critical period, where XRP is likely building momentum for its next big move. At press time, XRP trades for $0.5287.

Cardano Founder Hoskinson Says Cardano is Still Number One

Elendu Benedict
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Cardano Founder Hoskinson Says Cardano is Still Number One

Charles Hoskinson, the founder of Cardano, has praised Cardano’s push for decentralization, arguing that the network is still number one.

Often vocal on Crypto Twitter, Hoskinson is one of the most enthusiastic founders in the industry. His drive for community engagement and constant promotion of the Cardano network has won him friends and enemies alike.

In a tweet on Friday, Hoskinson lauded Cardano, suggesting that the chain was still the best in the industry. He stated that the Cardano ecosystem is leading even though the chain is far from thoroughly implementing its fully decentralized governance and other upgrades in its “amazing roadmap.”

Fully Decentralized Cardano Network

A September 1 Chang upgrade saw the Voltaire era go live on the Cardano network. The era ushered in the bootstrap phase, where key governance pillars like the decentralized representatives (Dreps), the constitutional committee (CC), and the stake pool operators (SPOs) were formed.

Since then, the network has progressed in its fully decentralized governance system. On October 1, the chain announced that the Midnight testnet had gone live on the Cardano blockchain.

The Midnight sidechain provides programmable data protection, with Hoskison earlier teasing that it has Ethereum’s programmability and Zcash’s privacy. The IOG founder noted that it was one of the many milestones on Cardano’s roadmap.

Community Reacts to Hoskinson’s Number One Claims

Hoskinson’s assertion sparked yet another heated reaction from the crypto community. Notably, the Cardano founder was part of an X debate earlier in the week when a crypto maxi dragged him and Ethereum co-founder Vitalik Buterin.

This time, Cardano proponents agreed with his affirmation, with a user noting that he has never doubted it for a second. The comment further stated the vision had been clear from the start of the project.

Conversely, several users disagreed with Hoskinson, arguing that Cardano’s alleged progress doesn’t reflect on its price. A user asked if ADA would ever get to $1 again, mocking the coin’s recent underwhelming performance.

Notably, analyst Atlas named Cardano among altcoins that will never grow again in an argument. At the time of writing, ADA traded at $0.3525, up less than 1% in the past 24 hours.

SEC Makes Progress With Its Appeal Against Ripple: Details

Lele Jima
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SEC Makes Progress With Its Appeal Against Ripple: Details

The U.S. Securities and Exchange Commission (SEC) has made key progress in its lawsuit against Ripple, as its appeal is filed in the Court of Appeals for the Second Circuit’s PACER system. 

As usual, famous defense lawyer James K. Filan shared the development yesterday on X, noting that the appeal has been docketed in the Second Circuit’s PACER docketing system. 

It bears mentioning that the PACER system tracks federal cases being heard within the Second Circuit. Attorney Filan shared screenshots of the case, confirming that the SEC appeal is currently in the Second Circuit’s appellate court system. 

Details of SEC Appeal Against Ripple 

The details show that the case was officially docketed yesterday under docket number 24-2648 and the title United States Securities and Exchange Commission v. Ripple Labs, Inc. 

Despite dropping its case against Ripple executives Brad Garlinghouse and Chris Larsen last year, the SEC still included their names in the appeal as “Defendant-Appellee.” 

Intervenors include Jordan Deaton, James LaMonte, Tyler LaMonte, and Roslyn Layton, who are represented by their legal representative, Massachusetts senatorial candidate John Deaton. 

Other details docketed in the appellate court system include information about the lawsuit’s origin, such as the initial date of the case (December 22, 2020) and the date of the final judgment (August 7, 2024). 

The filing of the Ripple lawsuit in the Second Circuit’s docketing system marks the formal beginning of the appellate process. This will enable the court to review Judge Analisa Torres’ decision to determine whether she erred in her landmark ruling. 

Ripple Confident in Securing an Appeal Victory Against SEC 

Meanwhile, Ripple has remained confident that it will emerge victorious in the appeal against the SEC. Through its CEO Garlinghouse, Ripple emphasized that it will prevail for the benefit of the company, the XRP community, and the broader crypto industry. 

In a separate statement, Ripple CLO Stuart Alderoty noted that the company will demonstrate that the SEC lawsuit is misguided and irrational. 

According to an X post yesterday, Alderoty reiterated the company’s confidence in the Second Circuit, recounting how the court rejected the SEC’s argument in the SEC v. Govil lawsuit. Notably, Alderoty highlighted some memorable statements from the case, demonstrating how the Second Circuit denied the SEC’s arguments. 

They include, “We’re not persuaded by the SEC’s arguments,” “We do not agree with the SEC,” and that the SEC’s counterarguments are unavailing.” 

Reacting, popular XRP community figure Ashley Prosper characterized the statements as the type that can be found in an order dismissing a case that lacks merit. 

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