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BitMEX Founder Bets Big on These Memecoins, Says It’s Time for Their Breakout

Lele Jima
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BitMEX Founder Bets Big on These Memecoins, Says It’s Time for Their Breakout

BitMEX co-founder Arthur Hayes becomes active in the memecoin market, promoting top tokens like Pepe (PEPE), Mother Iggy (MOTHER), and Mog Coin (MOG). 

In an exciting development, the popular crypto stakeholder has taken to X to express optimism about memecoins, emphasizing that the time is right for their breakout. 

“I respect my $MOTHER, I $MOG like no one else, but I can’t neglect $PEPE,” Hayes remarked. 

Hayes Purchases 24.39B PEPE on Binance 

Interestingly, the BitMEX co-founder had matched his words with action by purchasing $250,000 worth of PEPE on Binance earlier. Data from blockchain analytics platform Arkham Intelligence shows that Hayes first moved $1 million worth of USDC to Binance earlier today at 06:40 a.m. (UTC). 

An hour later, he withdrew 24.39 billion PEPE tokens worth $252,680 from Binance. This indicates that Hayes recently purchased the tokens from Binance shortly after transferring $1 million USDC to the exchange. 

BitMEX Founder Transfers 8M MOG Between His Wallets 

Following the transaction, Hayes received 8 million MOG tokens ($12.72) from one of his crypto wallets. At press time, the wallet holding Hayes’ 24.39 billion PEPE is valued at $4.83 million. Notably, PEPE is the portfolio’s third-biggest token by dollar value, while MOG is ranked in the 11th spot. 

This blockchain address does not hold any MOTHER token at the time of writing. However, he may own MOTHER and more PEPE and MOG assets in his other wallets. 

His Support for Memecoins 

Prior to placing a bet on memecoins, Hayes has been supportive of meme-based tokens. During an interview in March, the BitMEX co-founder warned people against writing off memecoins as valueless and stupid. 

According to him, these tokens can bring real value to the blockchain sector through new users and attention. He emphasized that any blockchain capable of fostering the memecoin culture will benefit immensely from the attention these assets could generate, highlighting Ethereum and Solana as major beneficiaries. 

Given his comments, it is not surprising that he will commit some funds to memecoins. 

Ethereum ICO Wallet Dumps 12,010 ETH in Four Days After Two Years of Inactivity

Mark Brennan
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Ethereum ICO Wallet Dumps 12,010 ETH in Four Days After Two Years of Inactivity

A two-year dormant ICO wallet has dumped $31.6 million worth of Ethereum in the past four days amidst the asset’s bullish uptrend.

An Ethereum ICO wallet that has been dormant for two years has gone on a selling spree, dumping 12,010 ETH to exchanges in the past four days. Data from Lookonchain shows that the address sent 3,500 ETH ($9.26 million) to Kraken at an average price of $2,646 on Thursday.

The wallet participated in the 2015 Ethereum initial coin offering (ICO), receiving 150,000 ETH from the Genesis block. Notably, the ICO cost was a menial $46,500; however, the offering has surged a staggering 8,484% and is currently worth $394.5 million.

Whale Dumps 12,010 ETH in Four Days

In addition to the 3,500 ETH dumped yesterday, the ICO wallet liquidated 5,000 ETH on Sept. 25 and 3,500 ETH on Sept. 22.

Data from Etherscan shows that the wallet sold 5,000 ETH on Wednesday, valued at $13.2 million. On-chain analysis shows that the whale sent the funds to Kraken at an average price of $2,646.

Before that, the wallet had liquidated 3,500 ETH on Monday. According to a report, the whale moved $9.12 million worth of Ethereum to Kraken, its first asset liquidation in 771 days.

Notably, the wallet still holds 2,989 ETH, valued at $7.9 million after the transfer on Sept. 26. The address also stores 12 other ERC-20 tokens and five non-fungible tokens (NFTs).

Ethereum Rebounds Despite ICO-Linked Liquidations

The 3,500 ETH dump was among the numerous Ethereum liquidations from ICO-related wallets. Data showed that another ICO wallet moved 8,510 ETH worth $22.15 million to Kraken on Thursday.

Notably, the wallet still holds 130,000 ETH, worth $344 million across eight different wallets. This has raised skepticism about further liquidation of its holdings.

Despite these dumps, Ethereum has shown signs of recovery amidst a broader market uptrend. The asset has increased 1% in the past 24 hours and has recovered over 17% from its lows earlier in the month. At the time of writing, Ethereum exchange hands at $2,660 per coin.

Experts Say Haters Gonna Hate, But XRP Bull Run is Cooking

Abdulkarim Abdulwahab
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Experts Say Haters Gonna Hate, But XRP Bull Run is Cooking

Analysts believe XRP’s bull run is approaching despite current market challenges, with promising chart patterns.

The bulls are back in the crypto market, with Bitcoin re-entering the long-sought $65K price range. However, XRP has yet to capitalize on this booming market. While Bitcoin and Solana have risen by 2% today, XRP has seen a mild decline of 0.33%. 

Over the past week, altcoins such as Dogecoin and Shiba Inu have enjoyed over a 15% uptick, but XRP’s trajectory remains in the red, currently trading at $0.5873.

Haters Gonna Hate, But Charts Are Positive

However, some prominent analysts in the crypto community believe there’s no cause for concern, as XRP’s bull run may be just around the corner.

In a recent post on X, well-known XRP commentator Tony Edward remarked that while haters will continue to criticize XRP, the charts are showing positive signs.

His comments responded to an analysis by the widely followed chartist CrediBULL, who pointed out that XRP’s nearly seven-year compression is nearing an end. He described it as the “mother of all bull flags.”

CrediBULL added that there’s almost nothing else like it in the crypto market, partly because most other coins haven’t even been around for seven years. “When the old guard wakes up, it’s going to be legendary,” the analyst stated.

XRP is “Cooking Something”

Another analyst, “CRYPTO JUNIOR,” shared a similar perspective in a different thread. He noted that whether haters like it or not, XRP is “cooking something.”

This analyst presented a chart of XRP’s monthly time frames, indicating that XRP is currently at the bottom of a long-term downtrend, with an upside movement imminent. The current position mirrors past occurrences, particularly in 2017 and 2021 when XRP surged after prolonged downtrends.

XRP chart by CRYPTO JUNIOR

 

Chart formations like this have formed the foundation of the bullish sentiment around XRP among its proponents, although critics continue to dismiss these patterns.

In response to the updates, crypto researcher Van Winkle emphasized that despite the noise, the charts are showing promising signs for XRP. He urged enthusiasts to stay focused and ride the wave, stating that the bullish trends cannot be denied.

Another commenter suggested that XRP’s bull run could begin as early as eight weeks from now, according to long-term charts.

Technical Analysis “Failing XRP”

However, one user expressed skepticism, noting that analysts have been drawing charts for the past five years. He remarked that if XRP drops and we wait another year, the same patterns will simply be redrawn with the same predictions. 

The commenter felt that technical analysis often fails for coins affected by “suppression and political influence.” He ultimately forecasted that XRP might only reach $1 by 2030.

Expert Says Shiba Inu Is Ready To Conquer $0.00008616

Lele Jima
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0
Expert Says Shiba Inu Is Ready To Conquer $0.00008616

Popular Shiba Inu community figure $SHIB KNIGHT expresses confidence in SHIB’s prospect, speculating that the token is ready for a new all-time high (ATH). 

$SHIB KNIGHT suggested that the dog-themed token is poised for a dramatic price increase that could make SHIB conquer $0.00008616 and create a new ATH. 

According to SHIB KNIGHT’s projection, Shiba Inu would rally beyond its previous ATH of $0.00008845, registered on October 28, 2021. The expert did not specify an exact target for Shiba Inu. Nonetheless, they asserted that Shiba Inu is ready for a new all-time high. 

Shiba Inu Soars 11.48% Since $SHIB KNIGHT Declaration

Interestingly, Shiba Inu has witnessed an incredible performance since SHIB KNIGHT made the declaration. At the time of the post, Shiba Inu was trading at $0.00001706. The dog-themed token is up 11.48% to $0.00001902 since the expert projected that Shiba Inu is ready for a new all-time high. 

At the current price, SHIB is up 16.59% in the daily charts and 31.78% over the past week. Data from CoinMarketCap also indicates that SHIB’s price has rallied 38.94% in the monthly charts. 

SHIBUSDT 2024 09 27 07 56 26
SHIBUSDT 2024 09 27 07 56 26

Shiba Inu Cements Its Position as 13th Biggest Token 

Shiba Inu’s recent performance also positively impacted the asset’s market cap, adding over $3 billion in one day, cementing its position as the 13th-biggest crypto. 

At press time, Shiba Inu boasts a market cap of $11.24 billion, surpassing Chainlink’s (LINK) valuation by more than $3 billion. For context, LINK is the 14th biggest cryptocurrency by market cap. 

Experts Believe SHIB Can Hit New ATH 

With Shiba Inu currently trading at $0.00001902, SHIB’s price must surge 365.09% to set a new all-time high. Recall that Shiba Inu’s recent all-time high was $0.00008616, made on October 27, 2021. Since then, Shiba Inu has not been able to break it.

Several Shiba Inu proponents believe Shiba Inu can achieve this feat in the 2024/2025 bull run, with many projecting that SHIB could surpass the $0.0001 price territory this season. 

The $0.0001 projection has gained prominence within the Shiba Inu community. As reported earlier, $SHIB KNIGHT forecasted that Shiba Inu would hit the $0.0001 target this year. Additionally, other famous crypto analysts, including Eunice Wong and Javis Marks, issued similar predictions for SHIB. 

These experts have remained confident in Shiba Inu’s prospects due to the positive developments happening within the SHIB ecosystem. For instance, Shibarium, Shiba Inu’s Layer-2 blockchain, recently witnessed a spike in its Total Value Locked (TVL). Notably, Shibarium’s TVL surged to $3.64 million in one week following the launch of K9 Finance’s liquid staking solution, Bonecrusher. 

Bonecrusher’s launch on Shibarium also boosted the network’s daily transaction volume by 82% following its debut, with the figure currently standing at 7,060. As Shibarium transaction volume soars, the uptick could drastically reduce SHIB’s supply. 

Meanwhile, there are speculations that the team is preparing to introduce “something big” for Shiba Inu in the fourth quarter of the year that could potentially drive SHIB’s adoption. These positive developments could set the stage for Shiba Inu’s rally to a new all-time high. 

U.S. Largest Custodian BNY Mellon Can Now Hold Bitcoin Beyond ETFs, US SEC States

Mark Brennan
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U.S. Largest Custodian BNY Mellon Can Now Hold Bitcoin Beyond ETFs, US SEC States

US Securities and Exchange Commission boss Gary Gensler says BNY Mellon could hold digital assets beyond exchange-traded funds.

America’s largest custodian, BNY Mellon, has received regulatory approval to offer crypto custody to its clients. The consent was an upgrade of an earlier permission to provide custody for Bitcoin and Ethereum spot ETFs.

Per a Bloomberg report, Gensler has green-lighted BNY Mellon’s expansion beyond the ETFs as far as it imbibes with its approved system of custody. The SEC chair asserted that although the initial proposal was for the two largest cryptocurrencies by market cap, the structure allows for any digital asset custody.

It bears mentioning that America’s oldest bank received a non-objection injunction after a reformed proposal to hold Bitcoin and Ethereum spot ETFs without public disclosure as a liability. The Office of the Chief Accountant exempted BNY Mellon amidst the Staff Accounting Bulletin (SAB) 121 impediment.

BNY Mellon Improvises Amid Regulatory Impediments

The banking giant introduced a new retrofit to siphon financial institutions’ legal constraints in digital asset custody. BNY Mellon’s proposed structure involved creating distinct bank accounts for individual crypto wallets to separate the bank’s funds from custodial assets.

With this structure, the assets of investors custodied by BNY Mellon will be protected in the case of bankruptcy. This was the case when firms like Voyager, Celsius, and FTX filed for bankruptcy.

Gensler lauded BNY Mellon’s efforts to protect user assets, stating it was a well-thought-out structure. He further noted that other banks looking to custody cryptocurrencies could emulate the approach and receive the same exemption given to BNY Mellon.

The Lucrative Crypto Custody Sector

Notably, one of the major reasons banks are angling to custody of crypto assets is their lucrative nature. According to reports, digital asset custodians charge ten times the fees traditional institutions demand for their services.

Analysts have also predicted that the custody sector will grow to a multibillion-dollar venture in a few years with a projected 30% yearly increment. Hence, banks are looking to explore the industry’s latent potential.

Meanwhile, the SAB 121 impediments still exist. Despite efforts to repeal the law, President Joe Biden vetoed the proposal. However, market speculators are optimistic that the new administration, after the November elections, will toss off the regulation.

Top Predictions Show Solana Heading to $1,000—Here’s What Experts Say

Zabi
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0
Top Predictions Show Solana Heading to $1,000—Here’s What Experts Say

Analysts Predict a Potential 900% Surge as SOL Eyes $1,000 Milestone.

Solana (SOL), a blockchain distinguished by its high-speed transactions and low costs, is attracting significant attention. Forecasts suggest a potential 900% increase in its price.

Experts are predicting that SOL might soon surpass the $1,000 mark per token. This optimism is reminiscent of Solana’s explosive growth in July 2021. Despite the excitement, caution remains crucial as the market evolves.

Solana Expected to Surge Fivefold

In a recent viral video, Solana trader and analyst Conor Kenny compared the current trajectory of SOL to its remarkable performance in July 2021, reinforcing the bullish sentiment while advising prudence.

Prominent crypto influencer Davinci Jeremie has projected a dramatic increase in Solana’s value, predicting a rise to $1,000 per token. In a tweet, Jeremie expressed high confidence in this forecast, stating that Solana’s price could potentially reach this milestone, highlighting a projected increase from its current price of around $157. 

While this prediction is bold, many in the crypto community are closely monitoring for signs of a similar upward trend witnessed during the previous bull market.

Chart of Solana’s current  price movements
Chart of Solana’s current  price movements

 

Technical Indicators Suggest 900% Rally Possibility

Crypto analyst Ali has supported this optimistic view by highlighting technical patterns that suggest a significant rally. Ali noted that Solana’s current price chart is forming a bull pennant, a technical formation that often precedes a substantial price surge. 

He mentioned that early indicators point to a possible 900% increase, echoing the bullish outlook of reaching the $1,000 target. Historical parallels to the market conditions of July 2021 further bolster these expectations.

Solana to $1000
Solana to $1000

The prediction of Solana hitting $1,000 is gaining traction among various influencers and analysts. Captain Faibik has also endorsed this view, asserting confidence in Solana achieving this target in the upcoming bullish rally. 

This consensus highlights a broader optimism about Solana’s future, driven by increasing institutional interest and a robust development ecosystem.

The positive sentiment is underscored by Solana’s improved stability and ongoing development activities, such as its active integration with DeFi platforms and NFTs.

Solana SOL to $1000
Solana SOL to $1000

Reflecting on Solana’s Historical Performance and Future Prospects

Since its initial coin offering (ICO) in April 2020, Solana has experienced dramatic highs and lows. Initially priced at $0.9511, it peaked at $260 in November 2021 before facing a severe downturn, partly due to the collapse of FTX, a major player closely linked with Solana.

Despite this, Solana has demonstrated resilience, rebounding to over $132 as of September 2024, thanks to improved network stability and an active development community.

Looking ahead, Solana faces both promising opportunities and significant challenges. The platform’s success in emulating Ethereum’s growth strategies, including fostering a vibrant community and attracting new projects, positions it well for continued growth. However, the trade-offs in decentralization and ongoing issues such as network congestion and the potential impact of unlocked FTX tokens pose risks to its future stability.

Expert Confirms Cardano Bullish Breakout Amid 12% Gain, Projecting $1 as Next Target

Albert Brown
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0
Expert Confirms Cardano Bullish Breakout Amid 12% Gain, Projecting $1 as Next Target

Cardano (ADA) has recently demonstrated a strong bullish breakout in the daily timeframe following a period of prolonged consolidation within a well-defined range.

Specifically, ADA has broken above significant resistance levels with its recent recapture of the $0.4 level, signaling a shift in market sentiment. In a recent update, trader Crypto Rand highlighted that the recent price action saw Cardano decisively break above a descending trendline that has been a barrier since previous highs.

This breach confirmed a reversal of the earlier downtrend, indicating renewed bullish sentiment among market participants. As of the latest update, ADA surpassed the $0.3800 resistance level.

Cardano Road to $1

This breakout points towards potential tests of higher resistance zones in the near term. Crypto Rand’s immediate target range lies between $0.4200 and $0.4400, where some resistance is expected.

Should the current momentum persist, mid-term projections suggest ADA could surge above the $0.5000 level. The trader suggests a potential journey toward even higher targets, eventually reaching the psychological $1 mark if the bullish momentum persists.

At press time, Cardano is trading at $0.4023, boasting an over 12% gains over the past week.

Active and New Address Surging

Beyond price movements, on-chain metrics such as active and new addresses also reflect shifting sentiment within the Cardano network. Active addresses had peaked during the early 2021 market rally. Despite a subsequent ADA price decline following market downturns, the number of active addresses remains steady, particularly surging by over 11%. 

ADA Address Activity / IntoTheBlock
ADA Address Activity / IntoTheBlock

Similarly, new address creation surged during the same period, showing strong user adoption. While there has been a decline post-peak, recent data reveals a 12.58% increase in new addresses over the past week. 

Cardano’s Transaction Efficiency

Cardano’s transaction efficiency has also become a focal point of discussion within its community. Jaromir Tesar, a known advocate, recently highlighted the network’s ability to handle multiple asset transfers within a single block at minimal cost. 

A block on the Cardano blockchain can process transfers to up to 1,600 users for just 5.16 ADA, approximately $2.38. This capability has prompted various reactions, with some viewing it as beneficial for institutional transactions. However, others remain skeptical, drawing comparisons to transaction efficiency within other ecosystems, notably Ethereum.

Here is Why Bitcoin is About to Surge to $70,000

Zabi
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0
Here is Why Bitcoin is About to Surge to $70,000

Bitcoin Set to Hit $70,000 with Trump’s Historic Crypto Move, Harris’s Pro-Crypto Shift, and Fed Rate Cuts.

As Bitcoin nears a significant milestone, approaching $70,000, BTC is regaining prominence in financial discussions. Pivotal political endorsements and favorable economic conditions fuel this renewed interest.

A recent YouTube video titled “The Real Reason Bitcoin is About To Hit $70,000!” by Altcoins Daily highlights these key developments.

Bitcoin’s Evolution and ‘Moon Mission’

With its 16th anniversary on the horizon, Bitcoin $BTC is perceived as a pioneer of a financial revolution. Experts suggest that Bitcoin is poised to surpass the $70,000 mark shortly, describing its current trajectory as a “moon mission.” This optimistic outlook is driven by a combination of political support and increasing market momentum.

 Donald Trump’s Historic First Bitcoin Transaction

In a historic move, Donald Trump has executed the first Bitcoin transaction by a sitting U.S. president. This unprecedented action has stirred significant interest, especially as Trump proposed utilizing Bitcoin to tackle the staggering $35 trillion U.S. national debt.

His comments have sparked speculation regarding Bitcoin’s potential role in addressing financial challenges, further elevating its profile in the political arena.

Kamala Harris’s Pro-Crypto Transformation

Vice President Kamala Harris, who previously voiced skepticism about cryptocurrencies, has undergone a dramatic shift toward a pro-crypto stance.

In a recent address, she underscored the importance of U.S. leadership in emerging technologies, including blockchain. During a Wall Street fundraiser in Manhattan on Sunday, Harris emphasized the importance of collaboration to enhance America’s competitiveness and secure its future, highlighting a commitment to promoting innovative technologies like AI and digital assets while ensuring the protection of consumers and investors.

The Fed’s Monetary Policy and Bitcoin’s Growth

A significant driver behind Bitcoin’s anticipated rise to $70,000 is the Federal Reserve’s series of interest rate cuts. The video emphasizes that Bitcoin thrives in an environment of global liquidity; as central banks adopt looser monetary policies, BTC is likely to flourish.

Experts anticipate that these rate cuts could extend through 2025 or even into 2026, creating a landscape of “cheap money” that would be conducive to Bitcoin’s appreciation.

Mark Cuban: A Catalyst for Change

Billionaire investor Mark Cuban has emerged as a vital figure in the political landscape surrounding cryptocurrency. Working alongside the Harris administration, Cuban advocates for blockchain innovation, appealing especially to younger demographics.

His ambition for a prominent role in a future Harris presidency, potentially as the head of the SEC, suggests that he could play a crucial role in shaping regulatory frameworks for cryptocurrencies, thereby legitimizing their place in the economy.

Bold Price Predictions: Bitcoin’s Future Beyond $70,000

Analysts are making ambitious projections for Bitcoin’s trajectory. Once it breaks the $70,000 barrier, BTC could potentially surge to $100,000 or even $200,000.

Although market volatility remains a constant factor, experts concur that surpassing the $70,000 mark could serve as a critical launching point for future gains. If current trends continue, Bitcoin stands to solidify its status as a major asset class within the global economy.

Binance Coin Crosses $600 as CZ’s Release Sparks Rally, Will $710 Follow?

Albert Brown
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0
Binance Coin Crosses $600 as CZ’s Release Sparks Rally, Will $710 Follow?

As the price of Binance Coin (BNB) exceeds the $600 mark, the recent release of former CEO Changpeng Zhao (CZ) and a breakout rally hint at a significant surge ahead.

With CZ’s release set for this Friday, BNB holders are optimistic about a bull run. The price of BNB has risen significantly during the broader market recovery, now trading above $600 per token.

Will this reversal phase boost the Binance coin price above $700?

CZ Steps Out as a Free Man

Changpeng Zhao, the former CEO of Binance, is concluding his four-month sentence this Friday. He holds a fortune of $60 billion and was one of the wealthiest inmates globally when he was detained in late May 2024.

Zhao was arrested on charges related to the failed implementation of an effective anti-money laundering framework at Binance, which reportedly made the platform a haven for cybercriminals and potential terrorists.

BNB Coin’s Inverted Head and Shoulder Breakout Run 

Amid the excitement surrounding CZ’s release, BNB is experiencing a bullish momentum. The recent bull cycle, which began at $487 on September 7, has resulted in a 24.71% increase, with the current market price at $607.

This bullish trend is further supported by a positive crossover between the 50-day and 100-day EMAs, while the 200-day EMA remains in a positive trajectory. Additionally, the daily RSI is approaching overbought territory as bullish momentum grows.

Binance Coin Price Chart
Binance Coin Price Chart

The intraday gain of 1.84% from an opening price of $596 has formed a morning star pattern, following a 1.55% jump the previous day. The daily chart also indicates a breakout of an inverted head-and-shoulders pattern for Binance Coin.

Moreover, derivatives data shows an increase in trend momentum. According to Coinglass, open interest has risen by 2.65% to reach $638.50 million, while options volume surged by 229.89% to $501.03K.

This growing interest surrounding CZ’s release heightens the potential for sharp movements in Binance Coin.

Will Binance Coin Price Surpass $700?

Currently, the altcoin has surpassed the neckline at the psychological level of $600. Based on Fibonacci levels during the recent correction phase, Binance Coin has exceeded the 50% Fibonacci retracement level.

The breakout rally is targeting resistance levels at 78.60% and 100% Fibonacci levels of $658 and $710, respectively. On the downside, critical support for BNB is positioned at $555 and $522.

Pundit Says Time is Here for Shiba Inu to See 50% to 100% Gains Each Day

Abdulkarim Abdulwahab
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0
Pundit Says Time is Here for Shiba Inu to See 50% to 100% Gains Each Day

Shiba Inu is currently stirring significant excitement in the crypto world with explosive price gains following an extended period of disappointing performance for investors.

At the time of reporting, Shiba Inu is hovering around $0.00001894 after registering a massive growth of over 15% in the last 24 hours. Just yesterday, Shiba Inu was trading in the $0.000014 range. However, it has since surpassed the $0.000019 mark, all within a single day.

Shiba Inu Bulls Are Back

Shiba Inu established an intraday high at $0.00001935, although it has slightly retraced since then, gathering further momentum to break the $0.00002 level. Notably, Shiba Inu last traded at the $0.000019 threshold on July 17, nine weeks ago.

In other words, at its current market price, Shiba Inu is trading at a two-month high, effectively erasing all losses accrued in August and this month.

During these past nine weeks, Shiba Inu dropped to $0.00001087 on August 5, implying that the prominent meme coin has grown by a substantial 78% since that low to its recent two-month high of $0.00001935.

The ongoing Shiba Inu bull run is generating significant excitement and bullish comments from market participants. Many are speculating on its price trajectory in the coming days.

Shiba Inu to See 50% to 100% Gains in One Day

In a recent post on X, notable community member Docbakar argued that this is the time in the cycle when Shiba Inu could achieve 50% to 100% gains every single day. Shiba Inu’s content marketing specialist, Lucie, endorsed this sentiment with a community signatory “woof” comment.

Similarly, TradingShot, a well-known analyst on TradingView, remarked that Shiba Inu is on the brink of a new rally. He pointed out that the chart indicates Shiba Inu’s pattern closely resembles Dogecoin’s before its historic surge.

He noted the significant similarities between Shiba Inu’s current situation and Dogecoin’s rally from 2018 to 2021, adding that only time will reveal the outcome.

Shiba Inu charts compared to Dogecoin by TradingShot

Furthermore, Shiba Inu’s bull run continues to give enthusiasts confidence in further gains that could make holders wealthy.

In a separate thread, community member Milan remarked that in 2020, SHIB turned everyday people into millionaires overnight, igniting mass adoption. He noted that SHIB is poised to disrupt the market again, creating a new era of wealth.

Some commentators believe that the larger FOMO around Shiba Inu’s bull run will kick in once SHIB reclaims the $0.00002 level.

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