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Bitcoin Analyst Says Last Chance to Buy Shiba Inu Before 501% Surge to $0.00014

Abdulkarim Abdulwahab
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Bitcoin Analyst Says Last Chance to Buy Shiba Inu Before 501% Surge to $0.00014

Prominent Bitcoin analyst Mags has issued a warning buy call for Shiba Inu enthusiasts, asserting SHIB is about to enter an uptrend-only mode to $0.00014.

Shiba Inu has struggled to stage a lasting bull trend in recent days. While an uptrend flashed last week, in which SHIB closed in on regaining the $0.00003 threshold, it quickly met bearish resistance, forcing a retest of the $0.000023 level.

At its current value of $0.00002328, Shiba Inu exhibits a flattened 30-day performance with no positive gain. Meanwhile, analysts believe Shiba Inu’s lackluster performance is in the concluding phase.

Last Chance to Buy Shiba Inu Before Up Only

In a recent update on X, analyst Mags asserted that Shiba Inu’s present market value is the crypto community’s last cheap buying opportunity before the next aggressive move.

The analyst warned that market participants ignoring SHIB now could regret this action as he foresees an impending “up only” trend emerging soon. “[This is the] last chance to buy SHIB before up only,” the Bitcoin analyst warned.

SHIB to Soar 501% to $0.00014

In the chart accompanying the update, Mags highlighted how he perfectly timed the market-wide commendable upsurge Shiba Inu witnessed in the first quarter of the year. He claimed to have purchased SHIB just before it surged towards reclaiming three-year highs in March.

Following a consolidation phase that has lasted over two months, Mags now projects that the paused bull trend is set to resume. He anticipates Shiba Inu will reach a new all-time high above $0.00014 between now and September. Notably, achieving this price target would require an ambitious 501% surge from Shiba Inu.

Meanwhile, Mags’s view is widely shared by many other analysts. A few weeks ago, veteran Bitcoin advocate Davinci Jeremie similarly suggested that SHIB is primed for another aggressive move. 

However, Jeremie proposed a less ambitious price point of $0.00006 as the potential target before a price correction. Nonetheless, the popular projection for Shiba Inu upon the much-anticipated breakout is a new high above the $0.0001 price range.

Oversold? Litecoin (LTC) RSI Enters Opportunity Zone, Highest Since September Amid Record Active Addresses

Abdulkarim Abdulwahab
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Oversold? Litecoin (LTC) RSI Enters Opportunity Zone, Highest Since September Amid Record Active Addresses

The Litecoin network records 704K active addresses, confirming a bullish trend for LTC, particularly as its RSI hits a crucial opportunity zone.

Litecoin is presently experiencing a surge in network activity, signaling a possible bullish trend for the LTC token. According to recent data from the market intelligence platform Santiment, the number of unique addresses interacting with the Litecoin network has dramatically increased.

Specifically, the report noted that over the past week, the average number of unique addresses interacting on the network surged to approximately 704,000. This marks a notable rise from the average of around 345,000 addresses recorded in May. The market intelligence platform asserted that this doubling in active addresses could hint at an upcoming positive movement in LTC’s market value.

Despite the increase in active addresses, Litecoin’s price has experienced a paradoxical dip, now trading at $78.74. However, this has not dampened the overall market activity. In particular, Litecoin saw a significant 58% rise in its 24-hour trading volume, with over $491 million worth of trades.

Litecoin Now in Opportunity Buying Zone

Adding to the optimistic outlook for the LTC token is its Relative Strength Index (RSI), which has recently entered an opportunity zone. With Litecoin’s RSI at 34.24, it indicates the token may be oversold and potentially poised for a price rebound. Santiment noted that this RSI level is the most favorable since September 2023.

Is a Breakout to $100 Incoming?

As reported by The Crypto Basic, Litecoin’s price has been showing signs of a significant recovery, potentially reaching $100 by June 2024. Data from IntoTheBlock indicates that over 1.48 million holders currently possess 12.32 million LTC, purchased at a peak price of $91.65.

The report suggests that while some holders might consider realizing profits prematurely, which could impede Litecoin’s price recovery at this level, establishing strong support above this price could propel a swift surge toward $100.

Additionally, another assessment by The Crypto Basic highlights that a substantial buy-wall at $75 could provide crucial support in the short term if the market turns bearish. Yet, with the recent increase in funding rates, the likelihood of Litecoin advancing toward $100 seems greater than a potential fallback below $70.

Shiba Inu: 3 Metrics That Could Impact SHIB Price This Week

Lele Jima
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Shiba Inu: 3 Metrics That Could Impact SHIB Price This Week

With the broader market downturn affecting Shiba Inu performance, these three key metrics could potentially impact its price this week.  

The recent bloodbath in the market has wreaked havoc on the prices of top crypto assets, including Shiba Inu (SHIB). At the current rate of $0.00002220, the dog-themed token is down 1.42% in the monthly charts, 6.6% in the past seven days, and 3.47% over the last 24 hours. 

3 Key Metrics to Watch This Week 

The massive collapse has also affected three key metrics around SHIB, including burn rate, Shibarium daily transaction count, and whale adoption trends. It is imperative to monitor these metrics as they could determine SHIB’s price action this week.  

As of yesterday, Shiba Inu’s burn rate slumped 74.5% in the 24-hour timeframe, with only 271,470 SHIB ($6) burned. The amount burned yesterday is insufficient to positively impact the price of Shiba Inu, which has a whopping market cap of $13.08 billion. 

However, SHIB burns gained momentum in the early hours of today, with the burn rate soaring 2,814% over the past 24 hours. This represents a daily burn of 7,912,388 (7.91 million) SHIB, worth $175 at the current exchange rate. 

SHIB burn rate
Shiba Inu burn rate | Shibburn

Another significant trend to watch is Shibarium’s total transaction count. Notably, Shibarium’s adoption rate has plunged heavily due to the recent market downturn. Latest data suggests that the Shibarium adoption rate has continued to slip to lower levels. Shibarium’s total transaction count, which stood at 8,780 on June 5, is currently around 4,360. 

Shibarium transaction count
Shibarium transaction count

Also, whales’ interest in Shiba Inu has slumped recently, plunging by 41%, according to data from IntoTheBlock. 

A Potential Reversal in SHIB Price 

Although these metrics stir concerns among investors, the upside is that they could pave the way for a potential reversal in SHIB price before the end of this week. 

Interestingly, new investors could see this as an opportunity to acquire SHIB at discounted prices, potentially prompting a renewal of interest among whales.

Meanwhile, top crypto exchanges, including Coinbase and Robinhood, have been shuffling huge amounts of SHIB tokens over the past 24 hours. As reported earlier, these two trading platforms moved 9.6 trillion SHIB in one day, marking 1.62% of Shiba Inu’s circulating supply. 

Anthony Pompliano Dumps His Ethereum for Solana, Predicts SOL to Outperform ETH

Zabi
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Anthony Pompliano Dumps His Ethereum for Solana, Predicts SOL to Outperform ETH

Anthony Pompliano has sold his Ethereum holdings to invest in Solana, citing Solana’s perceived potential to outperform Ethereum. 

American entrepreneur and investor Anthony Pompliano says he made a shift in his crypto portfolio, selling his Ethereum holdings to invest in Solana, as reported by Altcoin Daily. 

Pompliano, known for his work as the host of The Pomp Podcast, shared the reasoning behind this decision in a recent Youtube podcast, discussing Solana’s potential to outperform Ethereum in the near future.

Anthony Pompliano revealed that he started his crypto journey by mining Ethereum back in 2016. He previously disclosed this during the bear market in November 2022. However, recent developments prompted him to sell his Ethereum holdings in favor of Solana. Pompliano’s decision reflects his confidence in Solana’s future performance.

Ethereum vs. Solana

Meanwhile, recent market data indicates a shift in the profitability and trading volume between Solana and Ethereum. As reported earlier by The Crypto Basic, Solana surpassed Ethereum in profitability for the first time on May 15, 2024. 

On-chain analyst Leon Waidmann reported that Solana generated over $2 million in economic value, surpassing Ethereum’s figures following the launch of Ethereum Improvement Proposal (EIP) 4844.

A chart from Blockworks at the time illustrated the economic value trends for Solana and Ethereum from February 14 to May 12, 2024. Ethereum peaked at around $40 million in late February but saw a decline, stabilizing between $10 million and $15 million by April, eventually dropping to just under $2 million by mid-May.

Solana’s Trading Volume 

In December 2023, Solana’s trading volume also showed impressive growth due to surging interest. According to Kaiko Researcher Riyad Carey, Solana’s volume on Upbit surpassed Ethereum’s for 55 consecutive days, with similar trends observed on MEXC. Even major exchanges like Kraken and Coinbase Global Inc reported Solana outpacing Ethereum for multiple days.

As of today, Solana trades for $153.00 with a 24-hour trading volume of approximately $2.29 billion, and a market cap of over $70 billion. In comparison, Ethereum is valued at $3,527.78, with a 24-hour trading volume of about $14.2 billion, and a market cap exceeding $423 billion.

ChatGPT Predicts 85% Chance Central Banks Will Adopt XRP to Rescue Global Financial System

Abdulkarim Abdulwahab
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ChatGPT Predicts 85% Chance Central Banks Will Adopt XRP to Rescue Global Financial System

ChatGPT reportedly gave an 85% likelihood that central banks would adopt the digital asset in a scenario where it could save the financial system from collapsing.

Early today, Vandell Aljarrah, co-founder of Black Swan Capitalist, called attention to this development in a post on X. 

The industry pundit posted a screenshot of his exchange with OpenAI’s ChatGPT, in which he inquired about the likelihood of central banks utilizing XRP to prevent a financial system collapse by offering instant global liquidity. He specifically requested the AI to respond with a precise percentage.

In response, ChatGPT proposed an 85% chance, suggesting central banks could indeed implement the use of digital assets if such a measure could prevent the monetary system from failing.

The disclosure has generated attention. Members of the XRP community responded, suggesting a strong chance of XRP being a “savior” to the global ailing financial systems characterized by hyperinflation, stagflation, and recession.

Some even argued that there was no way this could be a hallucination. Meanwhile, others took a step back to examine the claim attributed to ChatGPT. 

Scrutinizing the 85% Score Claim

A pseudonymous user on X argued that the post was fake, citing ChatGPT’s known behavior of not issuing straightforward responses without proper context. This commenter asserted that a genuine response from the AI would likely include a disclaimer about the difficulty of quantifying such speculative scenarios with a percentage.

On the other hand, Matt Hamilton, a former director at Ripple, shared a screenshot of a similar conversation with the AI. In his case, ChatGPT responded with a mere 15% likelihood score, albeit with a direct response similar to Aljarrah’s exchange.

Addressing the discrepancy, Aljarrah revealed that on his second inquiry with the same question, the chatbot responded with a 20% likelihood. Others also reported receiving similarly low scores during their exchanges with the AI.

These varying responses serve as a reminder that the initially reported 85% likelihood of central banks adopting XRP to salvage the financial system should be approached with caution and a healthy dose of skepticism.

The Crypto Basic further investigated the claims, utilizing the JAMES prompt from Coinbase Director Conor Grogan. With this prompt, ChatGPT suggested that there is a 10% chance that Central banks will turn to XRP, with 90% confidence in its projection.

ChatGPT Response
ChatGPT Response

Notably, the speculative view of banks adopting XRP as a reserve asset has been a cornerstone of the popular belief that XRP could reach a $10K price point someday.

Fortune Recognizes Ripple Among the Best Workplaces in San Francisco

Lele Jima
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Fortune Recognizes Ripple Among the Best Workplaces in San Francisco

Top crypto payments company Ripple calls the public’s attention to its recognition as one of the best workplaces in the San Francisco Bay Area by Fortune Magazine. 

Ripple shared the development in an X post yesterday, celebrating its inclusion in Fortune Magazine’s list of Best Workplaces in the Bay Area in 2024. The selection highlights Ripple’s efforts to create a positive and fulfilling work environment for its employees. 

Reacting to the development, Ripple thanked Fortune Magazine for the recognition.  

It bears mentioning that Great Place to Work conducted the survey on behalf of Fortune. Per the ranking, Ripple came 17th in the small & medium list of best workplaces in the Bay Area in 2024. For context, the top five companies in this category include Cribl, Lumin Digital, NerdWallet, Mercury, and Chegg Inc. 

94% of Ripple Employees Says It’s a Great Place to Work

Meanwhile, Ripple secured the 17th position after 94% of its employees disclosed that the company is a great workplace. This figure is significantly higher than the 57% average for a typical company in the United States. 

Great Place to Work highlighted other parts of Ripple’s employee experiences that helped the company secure 17th. 

According to the survey, 98% of Ripple’s employees felt welcomed when they joined the company. An astounding 96% vouched for Ripple management’s honest and ethical business practices. Another 96% of respondents claimed that the company’s facilities contributed to Ripple’s good working environment.   

Furthermore, 96% of respondents said Ripple’s management allows them to take time off when necessary. Lastly, 96% of respondents revealed that Ripple’s employees celebrate special events within the company. 

Ripple Ranks as a Thriving Workplace for Employees 

This is not the first time Ripple has been selected for having a thriving workplace for its employees. In 2022, Ripple ranked eighth in the best workplaces under the small & medium companies category. 

In the same year, Ripple also secured the 34th position among the top 100 companies to work in the region. Additionally, Ripple ranked as the 27th-best workplace in the Bay Area for millennials in 2023 and the fourth-best work environment for parents in 2022. 

Research AI Spotlights Google’s Investment in Ripple

Sam Wisdom Raphael
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Research AI Spotlights Google’s Investment in Ripple

Perplexity, a research AI resource, recently spotlighted Google’s initial investment in Ripple in the company’s formative stage.

The disclosure originated from an inquiry by Ashley Prosper, a member of the XRP community who recently turned to Perplexity to inquire about potential partnerships between Ripple and major American technology and financial giants like Amazon and Google.

Amazon and Ripple

Notably, Prosper initially queried Perplexity on any partnership between Ripple and Amazon shortly after reports confirmed that Jeff Bezos, American entrepreneur and CEO of Amazon, had invested in the AI research platform through his investment firm Bezos Expeditions.

Perplexity asserted that there is a potential partnership between Ripple and Amazon, suggesting that this collaboration could see Amazon leverage Ripple’s technology to streamline its payment infrastructure, further improve supply chain management and broaden global expansion.

While these provisions look both feasible and attractive on paper, no such partnership exists and there are no indications of a potential one. Instead, Perplexity referenced previous reports last year, which erroneously suggested that Amazon was partnering with Ripple to leverage XRP for payments.

These reports scavenged information from an Amazon AWS Partner Profile page featuring Ripple’s use of Amazon’s AWS. The page discussed Ripple’s payment infrastructure, use cases for RippleNet and member companies. 

Latest Query on Google

Following his initial question about Amazon and Ripple in February, Prosper recently made a similar query about Google and Ripple, asking the research AI platform if Google has an investment in the payments company. Perplexity answered in the affirmative.

Due to the previous response regarding Amazon stemming from false reports, some XRP community members have been reluctant to consider the latest one factual, especially newer members who were not around when the investment was announced.

Notably, Google did invest in Ripple, but this development occurred in the company’s formative years. Following the investment from Google, Ripple went on to secure extra $55 million from some global banking behemoths eight years ago, bringing its total funding to $93 million as of September 2016. 

At the time, reports confirmed that Ripple was already partnered with 15 out of the 50 largest global banks. Since then, no new development has occurred between Google and Ripple or the XRPL despite recurrent speculations. For instance, rumors from last year suggested that Google was running an XRPL node, but The Crypto Basic promptly debunked these. 

The only notable development surrounding Google and the XRPL ecosystem involved Google Cloud’s entry into the Flare Network as an infrastructure provider and a contributor to the FTSO. 

Rich Dad Poor Dad Author Advocates Bitcoin as Easiest Path to Become a Millionaire

Zabi
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Rich Dad Poor Dad Author Advocates Bitcoin as Easiest Path to Become a Millionaire

Robert Kiyosaki calls Bitcoin the easiest way to become a millionaire, citing its potential over traditional investments amid currency debasement.

Robert Kiyosaki, the author of “Rich Dad Poor Dad,” has again taken to X to advocate for Bitcoin as the simplest route to becoming a millionaire. Kiyosaki emphasized the challenges of entrepreneurship, noting that it requires intelligence, dedication, and a bit of luck.

In contrast, he believes Bitcoin offers a more straightforward path. According to him, he prefers the firstborn cryptocurrency because it carries out all the effort and hard work he would have put in through entrepreneurship. He noted that this singular reason is why he loves Bitcoin.

Endorsements and Market Insights

In response to Kiyosaki’s post, Game of Trades, a data-driven investment research entity, highlighted Bitcoin’s long-term potential. It pointed out that, especially in times of increasing currency debasement, Bitcoin remains an undervalued asset. Their Quant Model analysis supports this view, suggesting that the current market conditions are favorable for Bitcoin investment.

Khalil Zibara also chimed in, praising Kiyosaki’s shift towards Bitcoin over traditional assets like gold and silver. Zibara asserted that in this decade, Bitcoin will surpass gold as the ultimate hedge against inflation, welcoming Kiyosaki to what he terms the “new world.”

Notably, as of today, Bitcoin is priced at $67,834, experiencing a slight decline of 2.47% over the past 24 hours and 1.50% over the past week. Despite these fluctuations, Bitcoin’s market cap stands robust at approximately $1.34 trillion.

Future Projections by Kiyosaki

Kiyosaki’s recent advocacy for Bitcoin follows his previous statements made in March, where he urged investors to consider Bitcoin for their portfolios, even in small amounts. Predicting a rally to $300,000, he advised starting with investments as modest as $500, emphasizing the urgency to engage with Bitcoin before it becomes more expensive.

In January, Kiyosaki elaborated on his preference for Bitcoin over traditional stocks and bonds. He criticized key figures in the U.S. financial ecosystem, including Federal Reserve Chair Jerome Powell and Treasury Secretary Janet Yellen, accusing them of facilitating wealth erosion through inflation and market manipulation.

Kiyosaki underscored Bitcoin’s role as a protective measure against these systemic issues, advocating for its use to safeguard wealth from traditional financial mechanisms.

Shiba Inu: Atomic Wallet Lists BONE to 5M+ Users Globally

Abdulkarim Abdulwahab
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Shiba Inu: Atomic Wallet Lists BONE to 5M+ Users Globally

BONE, one of the tokens within the Shiba Inu ecosystem, has achieved a significant boost via Atomic Wallet, potentially impacting its adoption.

In particular, Atomic Wallet, a non-custodial decentralized crypto wallet trusted by over five million users, recently added native support for Shiba Inu’s BONE. The Atomic Wallet team confirmed this development via an update on their official X account on Monday, June 10.

The team highlighted that with the integration of BONE, users now have access to the token that functions as the transactional fuel for Shiba Inu’s Shibarium blockchain.

Shibarium is a layer-two network engineered to enhance scalability, accelerate transaction speeds, and lower costs while fostering broader development.

Shiba Inu Army Reacts

The Shibarium team expressed gratitude to Atomic Wallet for supporting BONE and acknowledged its significant role in driving the token’s adoption. The Shiba Inu ecosystem official X account also remarked on BONE’s new achievement.

Expectedly, the SHIB Army has responded enthusiastically to the news of BONE’s listing on Atomic Wallet, perceiving it as a significant step towards wider adoption of the token. With Atomic Wallet’s extensive user base of over five million, the community also extended their gratitude to the wallet service for its support in expanding BONE’s reach.

Atomic Wallet Native Support for BONE

Notably, Atomic Wallet is available for Android and iOS users. Among the services it provides are swap functions and receiving and sending BONE tokens.

It is worth noting that Atomic Wallet has supported the BONE token since late 2022. At the time, deposits and withdrawals were available via Ethereum’s ERC20, BNB Chain, and Polygon networks.

In January 2023, the Atomic Wallet team announced their intention to integrate Shibarium once it launched. By November 2023, a few weeks after Shibarium’s launch, the team fulfilled their promise by announcing support for all Shiba Inu native tokens, including Doge Killer (LEASH). 

This latest announcement confirms that deposits and withdrawals of BONE are now available via Shibarium’s network rather than other blockchains.

Amid this new support from Atomic Wallet, community members ponder when Binance will follow suit and support BONE. This has been a longstanding aspiration for the SHIB Army, given that Binance commands a user base of over 200 million. They continue to eagerly await Binance’s listing of BONE.

Ripple Dedicates Major Portion of 1B XRP Pledge to New Fund for Japan and South Korea

Lele Jima
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Ripple Dedicates Major Portion of 1B XRP Pledge to New Fund for Japan and South Korea

The Japan and Korea Fund is part of the 1 billion XRP pledge from Ripple, which focuses on providing financial, technical, and business support to projects building on XRPL.  

According to a press release today, Ripple has launched a new fund focused on bolstering innovation on the XRP Ledger (XRPL) in the Japan and South Korean markets. 

Dubbed the XRPL Japan and Korea Fund, the new commitment will support multiple initiatives fostering innovation on XRPL in both countries. 

Major Focus of the Fund 

The new fund will focus on four distinct areas. 

First, it will enhance partnerships with top Japan and Korea-based companies, leading to the integration of XRPL into their operations while exploring enterprise use cases across various sectors.  

Through the XRPL Japan and Korea Fund, Ripple will also provide support to promising projects built on the XRP Ledger in areas of business, finance, and technical development.

Additionally, Ripple will actively identify and invest in early-stage companies that harness the XRPL to build novel applications in Japan and Korea.  

Lastly, the fund will also help Ripple support local events in the countries, including education programs and hackathons. 

Ripple to Commit Huge Portion of its 1B XRP Pledge to the New Fund 

Per the announcement, the fund is part of Ripple’s 1 billion XRP pledge aimed at offering technical, financial, and business support to developers building on the XRP Ledger via the XRPL Grants and XRPL Accelerator programs.  

Ripple noted that it would commit a considerable portion of the 1 billion XRP toward fostering opportunities, especially in Korea and Japan, adding that the commitment could run into tens of millions of dollars over time.  

Commenting on the development, Ripple’s VP of Strategic Operations Emi Yoshikawa said the new fund demonstrates the company’s confidence in the prospects of Japan and Korea as essential regional centers for blockchain innovation.

Ripple Highlights Commitment in Korea and Japan Markets  

According to Ripple, Japan and Korea are home to some dynamic XRP Ledger communities worldwide, supported by efficient institutional collaborations, favorable regulations, and growing startups within their respective blockchain sectors. 

Ripple mentioned that Japan and Korea-based projects were selected among the XRPL Grants Wave 7 awardees. In particular, VWBL (Japan) and Moai Finance (Korea) were among the firms that received funding to continue building on the XRP Ledger. 

The company also noted that it has partnered with top Korea and Japan-based companies, including SBI Holdings and HashKey DX, over the years. 

Furthermore, Ripple stated that some of its executives will participate as speakers at events scheduled in these regions later this year, such as the Korea Blockchain Week and WebX Asia in Japan. 

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