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Pundit Unveils How XRP Could Spike to $100, $100,000 or $1,000,000

Sam Wisdom Raphael
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0
Pundit Unveils How XRP Could Spike to $100, $100,000 or $1,000,000

Media personality Crypto Sensei discusses what could allow XRP to surge to unimaginable levels, including $100, $100,000, and $1,000,000 ($1 million).

He spotlighted this in a recent post on X, calling attention to several factors that could help XRP reach greater heights. Interestingly, all these factors focused on greater institutional adoption of XRP and the XRP Ledger (XRPL).

XRP Price Depends on Liquidity

Crypto Sensei first referenced previous comments made by Quincy Jones, a Software Developer at XDC Foundation. Jones noted that he is not certain what price XRP could get to. However, he provided an illustration of what its potential actually is.

According to him, XRP’s value is tied to the liquidity of assets it helps to move around. Jones argued that the more assets or instruments that are issued on the XRPL, including bonds and other tokens, the greater XRP’s value would need to be to actually sufficiently move these assets around.

He stressed that these assets would help bolster XRP’s price because a market participant would need XRP to purchase them. Jones further noted that, in addition to equity, institutions could also issue global debt on the XRPL. Such a move could tremendously impact XRP’s price, given that the world debt currently sits at $305 trillion.

Per Jones, XRP could rise to $100, $100,000, or even $1 million, depending on the liquidity it needs to process. Commenting on Jones’s remarks, Crypto Sensei emphasized that there is a high probability that global institutions could leverage the XRPL or other blockchains for the issuance of assets.

The Role of Tokenization

One area where this could happen is tokenization. The world is gradually shifting toward the tokenization of real-world assets (RWAs), and blockchain is positioned as a useful tool for this. Recall that Ripple CTO David Schwartz revealed last October that he believes the XRPL can be the favored platform for RWA tokenization. 

A month later, Schwartz disclosed that the XRPL is pivoting toward RWA tokenization. Notably, prominent financial giants such as JPMorgan and Bank of America are already looking to capture the growing industry. Ripple is also seeking to make a mark through its recently acquired subsidiary Metaco. 

Due to its ability to move value in a fast and cost-effective manner, the XRPL stands out as a top choice for tokenization. Crypto Sensei suggested that this utility boasted by the network could drive top financial institutions such as banks and central banks toward it.

XRP Ledger Boasts Attractive Features

He cited comments from Michael Arrington, founder of TechCrunch. Arrington revealed four years back that his firm was able to move $50 million on the XRPL with a tiny fee of $0.30. Notably, moving such a large amount of money could take a humongous fee on traditional payment systems.

Arrington pointed this out as an impressive feature from the XRPL, questioning why the crypto community antagonizes the network despite its attractive features. He also stressed that, should investors look to redeem their assets, his firm could process such transactions quickly without the conventional wait periods, which typically takes days.

Another point Crypto Sensei spotlighted was the regulatory immaturity in the crypto industry. According to him, this is the single biggest obstacle to institutional adoption. He emphasized how some companies have concerns about setting up shop in the United States due to regulatory uncertainty. 

Recall that crypto exchange Bittrex shut down its U.S. operations last year due to regulatory concerns. Additionally, in December 2022, crypto lender and exchange Nexo also announced plans to phase out its operations in the United States.

The SEC has sued multiple firms for dealing in Crypto assets it seems “unregistered securities.” Crypto Sensei believes the concerns that emanate from this trend are stopping institutions from coming in. With clear regulations, most of these financial institutions could easily adopt blockchain solutions for transfer of value, a move that would immensely benefit XRP.

XRP to be Covered Under MiCA, But There’s a Catch

Sam Wisdom Raphael
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0
XRP to be Covered Under MiCA, But There’s a Catch

SMQKE, crypto researcher and XRP community figure, shares what he believes is evidence that XRP will come under the purview of the upcoming MiCA regulation.

The pundit first presented his argument last month, citing information from two different research papers. One of the papers was a report from the Banque de France (Bank of France), the French central bank, in April. The report focused on CBDCs and crypto assets, specifically discussing the tokenization of finance and digitization of the economy.

MiCA Covers Utility Tokens

Notably, the research paper spotlighted the Markets in Crypto-Assets (MiCA) regulation as an integral part of the broader European Union’s push toward enacting a robust framework for digital assets. This framework would be beneficial to the French central bank’s ambition to digitize the economy and tokenize finance.

The report called attention to the fact that MiCA would cover stablecoins, utility tokens, and other crypto assets such as Bitcoin. Interestingly, SMQKE further shared a report from Delphi Digital and commentary from Enoch Chng suggesting that XRP is actually a utility token.

His argument was that since the report considered XRP a typical utility token, it fell under the purview of MiCA. However, this deduction was not completely flawless, as the documents declaring XRP a utility token are not in any way related to European financial authorities. As a result, it is impossible to ascertain if EU authorities also see XRP as a utility token.

Does the EU Consider XRP a Utility Token?

Weeks after his initial disclosure, SMQKE aimed to provide further evidence that XRP was indeed regarded as a utility token by the EU. He presented a research paper from the Center of Applied Macroeconomic Analysis at Crawford University, citing a report from the U.K. Financial Conduct Authority (FCA), which called XRP a utility token.

Nonetheless, it bears mentioning that the Financial Conduct Authority is not an EU financial agency. This is due to Brexit and the United Kingdom’s exit from the European Union in January 2020. Consequently, the U.K.’s views and regulations on finance and crypto assets are different from those of the EU.

The Significance of XRP Standing in the EU

The EU’s position on whether XRP is a utility token is pivotal for XRP’s regulatory standing within the bloc. This would be important for how companies in the EU treat or adopt XRP, especially within the MiCA regulation that is set to come into effect later this month.

The level of XRP’s institutional adoption largely depends on its regulatory standing within any jurisdiction. It faced a setback in the United States when the U.S. SEC declared it an unregistered security. Its adoption in the EU could also face a roadblock if the bloc’s regulatory stance is not resolute.

However, despite the findings from SMQKE, the European Union’s stance on XRP’s position remains unclear at the reporting time. Notable XRP community figure WrathofKahneman previously spotlighted a report from the European Corporate Governance Institute, which cited the July 2023 ruling that declared XRP a non-security when sold on exchanges.

Interestingly, Ripple’s Managing Director for Europe and the U.K., Sendi Young, disclosed last year that the company has continued to expand into the European Union. According to him, the introduction of MiCA could help with regulatory clarity for Ripple’s European expansion efforts. 

Shiba Inu Says It Hasn’t Forgotten About This Project 

Lele Jima
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0
Shiba Inu Says It Hasn’t Forgotten About This Project 

Shiba Inu marketing lead Lucie addresses the growing concern about the lull in updates regarding the Shiba Inu’s metaverse project, SHIB: The Metaverse. 

According to Lucie, the less information is dicloseed about the metaverse project, the more impactful the next revelation will be when unveiled. 

Lucie finalized the tweet with the phrase, “Nothing is Forgotten.”  The phrase suggests that even though the team has not shared any updates about SHIB: The Metaverse, it is actively working on the project behind the scenes. 

Concerns About Shiba Inu Metaverse Project 

The last major update the project came up in March 2024, when Lucie shared a sneak peek into the project, showing the progress made. The community has not received much update about the metaverse project ever since. 

As a result, this stirred speculation that the team might have forgotten about SHIB: The Metaverse. However, Lucie dismissed the speculation in a recent X post, emphasizing that nothing, including SHIB: The Metaverse, is forgotten. 

SHIB: The Metaverse Overview 

For the uninitiated, SHIB: The Metaverse will play a pivotal role in Shiba Inu’s efforts to expand its ecosystem utility. The Metaverse project was introduced in 2021 alongside other Shiba Inu-related projects. 

Significant advancements were made the following year, including the sale of 100,595 plots of land within the metaverse. The Shiba Inu ecosystem team onboarded top entertainment veteran Marcie Jastrow to serve as the project’s advisor. 

So far, Jastrow has increased awareness of the project by displaying it at various events, including the 2023 National Association of Broadcasters (NAB) conference and the 2023 South by Southwest (SXSW) festival. 

The team also unveiled the concepts for different hubs within the metaverse. Last year, the team promised to give users partial access to the project by December 2023. However, no official update has been issued regarding this development. 

Earlier this year, Lucie revealed that SHIB: The Metaverse users will earn the upcoming TREAT token when performing certain tasks. 

Following Lucie’s recent comments, the team could be preparing to issue a major update regarding the SHIB: The Metaverse. However, the date for this major announcement remains unknown at press time. 

Solana Price Forecast: SOL Reclaims $160 after Crypto Crash, What’s Next?

Mark Brennan
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Solana Price Forecast: SOL Reclaims $160 after Crypto Crash, What’s Next?

Solana (SOL) price reclaimed the $160 level on Monday, June 9, up 6% over the weekend; SOL’s open interest trends suggest a major breakout phase ahead. 

Solana price Rebounds 6% at the Weekend

The crypto market suffered intense downward volatility on Friday June 7 as investors reacted to the latest US Non-Farm Payrolls (NFP) jobs data.

Solana emerged as one of the worst-hit assets in the top 10 crypto rankings, having struggled to attract fresh demand since the last week of May 2024 as the Ethereum ETF approval saw investors overlook rival Proof-of-Stake networks.

Solana Price Action (SOL/USD) | TradingView
Solana Price Action (SOL/USD) | TradingView

In the aftermath of the NFP data, SOL price quickly succumbed to a 12.6% correction on June 7, as it tumbled to a 20-day low of $153, according to data obtained from TradingView.

However, Solana price experience a sizeable 6% rebound to reclaim the $160 level in the early hours of June 10, erasing nearly half of the losses recorded during the market crash on Friday.

It appears there has been a significant increase in demand within the Solana markets over the weekend as bulls swooped in to avert further losses. 

Solana Open Interest Holds $2 Billion Despite Price Dip

Solana’s price dip in late May after the ETH ETF approval attracted the attention of eagle-eyed bull traders looking to buy in at a local bottom. The market crash on June 7 came prematurely for this group of new entrants, who have then been forced to defend their positions to avert early losses. 

Solana’s Open Interest trends show how investors had mounted a new position as May 2024 drew to a close.

Solana price vs. SOL Open Interest | Coinglass
Solana price vs. SOL Open Interest | Coinglass

The chart above shows how bulls have swung straight into action in early June, send the SOL futures open interest to a 20-day peak of $2.58 billion as of June 5. Interestingly, while SOL price has now declined 9% from the $171 weekly-top on June 5, the open interest has held up steady.

At the time of writing on June 10, Solana Open Interest it trending at $2.36 billion. This $220 million decline in Solana open interest between June 5 and June 10, reflects a 9% drop-off in capital stock.

At first glance, this appears overwhelmingly bearish. However, when compared to the SOL price downtrend within the same time frame, it signals resilience and optimistic conviction among short-term traders.

During a market crash, if an asset’s open interest declines at a slower pace than its price downtrend, it signals bullish rebound momentum for two main reasons:

Widespread expectation of early rebound: When an assent’s Open interest holds up steadier than its price, it implies traders are holding onto their long positions during the downturn and are not liquidating en masse. This often cushions the asset from a steeper decline and sets the stage for a potential rebound.

Reduced Panic Selling: The measured decrease in Solana open interest may suggest that fewer traders are panicking and selling off their positions. This can help stabilize the market quicker and lead to a more sustainable recovery once the initial panic subsides.

Solana Price Forecast: Will $160 Resistance Cave in?

Solana price has surged 6% over the weekend with bull traders holding on their LONG positions, keeping SOL open interest holding up above the $2 billion mark.  This market allignment, suggests a rapid price breakout above $180 could be on the cards in the week ahead.

However, in terms of short-term resistance, Solana faces a potential roadblock around the 10-day SMA price level at $165.

Solana Price Forecast (SOL/USD)
Solana Price Forecast (SOL/USD)

If the bulls can stage a decisive Solana price breakout above the key resistance level, they could advance toward $180 as predicted.

But conversely, if the bears regain a foothold in the market, Solana’s price could suffer a major pullback from the $165 sell-wall. However, in this scenario, bulls could mount short-term support around the $157 level.

In essence, Solana traders can anticipate a prolonged consolidation with a narrow channel of $155 – $170 within the current market dynamics.

XRP Ranks Among Top Three in Global Index Provider STOXX Ltd

Abdulkarim Abdulwahab
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0
XRP Ranks Among Top Three in Global Index Provider STOXX Ltd

Data shows that XRP is a significant component of the STOXX Digital Asset Blue Chip Index firm under European regulations and a global index by leading index provider STOXX Ltd.

The prominent firm disclosed the composition of XRP and other crypto assets in the index in its latest review. For context, the STOXX Digital Asset Blue Chip Index represents high-quality crypto assets that reflect the current crypto scene.

It selects blue-chip assets based on high quality, activity, robustness, and financial strength using crypto-specific metrics and a multi-step selection process aligned with the Bitcoin Suisse Global Crypto Taxonomy.

This index covers four of five crypto sectors that represent 98% of the market’s $2 trillion cap.  It ensures diversification through weight caps and employs sector segmentation for precise benchmarking.

Notably, the weighted subsectors included payment coins, where XRP and Bitcoin were featured, and others in layer-1, data, and credit sectors. 

XRP Ranks Third in the Weighted Basket

According to STOXX’s latest quarterly review, the top five crypto assets in the STOXX Digital Asset Blue Chip Index are Bitcoin, Ethereum, XRP, Cardano (ADA), and Tron (TRX).

XRP represents 11.71% of the index, trailing Bitcoin and Ethereum, which both command the capped weight of 30%. Meanwhile, ADA and TRX take up market shares of 8.44% and 5.64%, respectively.

Essentially, XRP ranks third in the weighted basket of digital assets available for institutional investment.

STOXX Crypto Index Weighting
STOXX Crypto Index Weighting

The composition of XRP in the STOXX Digital Asset Blue Chip Index has sparked significant optimism among community members, who see it as a bullish development.

Notably, STOXX offers an extensive portfolio of more than 17,000 indices, including notable equity indices such as the STOXX Europe 600 and EURO STOXX 50. These indices are utilized by upwards of 550 companies globally for benchmarking purposes.

Moreover, they serve as the basis for various financial products, including ETFs, futures, options, structured products, and passively managed investment funds. STOXX administers these indices under the European Benchmark Regulation (EU BMR).

As of last December, XRP weighed over 10% of Valour’s Digital Asset Basket 10 index (VDAB10) in the European market. However, updated records show that this weight has significantly reduced, with Solana (SOL) overtaking XRP in the index.

Shiba Inu ETF Petition Nears Major Target  

Lele Jima
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0
Shiba Inu ETF Petition Nears Major Target  

The Shiba Inu (SHIB) ETF petition is just 300 signatures away from hitting a major target of 10,000.

This was disclosed by a popular Shiba Inu community figure, Heber Mayen, in an X post yesterday.

Meyer made this known while reacting to a tweet from SHIB BPP regarding the Change.org petition directed to Grayscale Investments CEO Michael Sonnenshein. Notably, SHIB BPP has been promoting the petition on X, urging members of the Shiba Inu community to sign the petition. 

According to the community influencer, June 8 marked the 58th day of asking the community to sign the petition. 

Overview of Shiba Inu ETF Support 

With 9,701 signatures recorded so far, the petition is just 299 signatures away from reaching the 10,000 target. 

SHIB ETFnew1111111111010111
SHIB ETF

As of February 26, the initial target was set at 1,000 signatures. Interestingly, the Shiba Inu community surpassed the milestone in no time, prompting an increase of the target to 2,500.

Now, the latest target is 10,000 signatures at the time of writing. Of the 9,701 signatures recorded so far, 140 people signed the petition over the past week, according to Change.org.

Some community members have made significant efforts to increase the petition’s coverage on Change.org. In March, Shiba Inu marketing lead Lucie and other community members donated $20 each to display the petition “1,000 extra times” on the platform.

Despite the efforts made so far, Grayscale has yet to respond to the request to introduce an ETF product for SHIB.

Why Shiba Inu Enthusiasts Chose Grayscale for a Potential SHIB ETF

Meanwhile, the Shiba Inu community directed the petition to Grayscale due to the company’s role in the emergence of Bitcoin ETFs in the United States. The company, which had been requesting to convert its Bitcoin Fund into a spot ETF since 2022, finally saw its request approved in January 2024.

Following the approval, Grayscale filed another request to convert its Ethereum Fund to an ETF product. Interestingly, the SEC approved the exchange filing for the product, and the regulator is expected to greenlight the S-1 filings later this year.

As reported earlier, Grayscale disclosed plans to convert all 17 crypto-related investment products into spot ETFs. Some of Grayscale’s investment products are focused on Bitcoin, Ethereum, Solana, and Litecoin, among others. At press time, Grayscale has no investment product tied to Shiba Inu.

Nonetheless, the Shiba Inu community hopes to use the petition to push Grayscale to launch such a product. Should Grayscale finally bow to pressure and introduce a Shiba Inu Trust, the company could also request to convert the product to a spot ETF in the future.

Shiba Inu To Surge 1,105% to $0.00024: Forbes 40 Under 40 Candidate

Sam Wisdom Raphael
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0
Shiba Inu To Surge 1,105% to $0.00024: Forbes 40 Under 40 Candidate

Moataz “Eljaboom” Elsayed, a Bitcoin investor and Forbes 40 under 40 candidate, believes Shiba Inu has the potential to cross the $0.00024 threshold if history repeats itself.

Eljaboom made this assertion while discussing Shiba Inu’s price movements on the weekly timeframe. He called the public’s attention to a pattern observed by the canine-themed crypto asset. Data from his chart suggests that SHIB is currently looking to repeat this historical structure.

Interestingly, the pattern occurred in the second quarter of 2021, shortly after Binance listed Shiba Inu. For context, Binance added support for SHIB on May 10, 2021. That week, Shiba Inu spiked to a high of $0.00005 before eventually witnessing a retracement. 

SHIB Historical Data 

The ensuing correction pushed SHIB below the support range of $0.0001784 to $0.00001995, keeping it underneath this level for 20 weeks or 120 days, according to data from Eljaboom’s chart. Shiba Inu eventually broke out in October 2021, as the 2021 bull market matured. 

This development allowed it to transform the territory between $0.00001784 and $0.00001995 from resistance to support. Following the breakout, SHIB spiked 343.64% from the $0.00001995 level to its all-time high of $0.00008854 in late October 2021. However, another correction came after this ATH.

Eljaboom’s chart confirms that the correction spilled into the bear market, with the Terra ecosystem implosion of May 2022 triggering steeper declines for Shiba Inu and the broader crypto market. SHIB eventually broke below the $0.00001784 and $0.00001995 range again, with this price territory turning to resistance.

Shiba Inu Repeating 2021 Pattern

Shiba Inu remained underneath this threshold for 94 weeks, or 658 days, as it persistently battled to surmount $0.00001. However, a decisive breakout occurred when Shiba Inu spiked 374% to the yearly high of $0.00004567 in March this year. 

Eljaboom expects SHIB to witness a price spike similar to what it recorded in May 2021. The Guinness World Record certified media personality believes this time, Shiba Inu would register a 1,105% increase from the $0.00001995 level, securing a price of $0.0002404 as its cycle top. This price would put SHIB’s market cap at $141.6 billion, which is rather feasible.

Investors Remain Bullish

Nonetheless, it bears mentioning that bearish speculations have emerged amid Shiba Inu’s inability to decisively break above the $0.00003 territory since April. Responding to Eljaboom’s projections, notable crypto trader Emily asserted that market participants who have lost faith in SHIB are “clueless.”

Despite the bearish speculations, most Shiba Inu investors remain bullish, as evidenced in CryptoQuant’s SHIB Exchange Reserve. Notably, on-chain data shows that investors have continued to pull their tokens out of exchanges since May 29. Shiba Inu exchange reserve surged to 154 trillion on May 29 but immediately began to drop, now sitting at 151 trillion tokens.

SHIBA INU Exchange Reserve All Exchanges 4
Shiba Inu Exchange Reserve | CryptoQuant

Meanwhile, Shiba Inu currently changes hands at $0.00002319, down 0.13% over the past day. SHIB broke below the crucial $0.000025 support on June 7, dropping to lows last seen in mid-May. Despite this, Santiment data shows that small addresses holding between 10,000 and 1 million SHIB, as well as whales holding at least 1 trillion SHIB, have continued to augment their holdings.

Shiba Inu Addresses Santiment
Shiba Inu Addresses | Santiment

Analyst Predicts Next XRP 41% Surge Could Lead to “Legendary” Upside

Sam Wisdom Raphael
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0
Analyst Predicts Next XRP 41% Surge Could Lead to “Legendary” Upside

Market analyst EGRAG believes the next 41% price upswing for XRP would eventually lead to a legendary upside featuring massive gains.

The analyst disclosed this in a recent report amid XRP’s struggles around the $0.5 price level. Despite the underperformance, XRP has captured significant attention due to multiple ambitious price forecasts. Market watchers contend that XRP is repeating a pattern similar to what it observed in 2017 before the meteoric surge. 

An Imminent 41% Price Increase

Particularly, EGRAG’s recent analysis suggests that XRP is poised for a mild 41% rise. However, the skilled chartist emphasized that this mild 41% increase in XRP’s price would herald a much more substantial price rally, leading to the much-needed breakout to the upside.

He highlighted a macro perspective on XRP’s price chart, describing it as extraordinarily bullish. Notably, he pointed to historical data, specifically a similar 41% increase in 2017, which preceded a remarkable spike. Following a period of sustained underperformance in 2017, XRP recorded a simple 41% rise. 

Interestingly, this 41% rise set the groundwork for the upsurge XRP recorded from January 2017 to January 2018, culminating in an all-time high of $3.3. This historical context forms the basis of EGRAG’s confidence that a repeat performance is on the horizon. 

Per the accompanying chart, XRP is currently trading within a symmetrical triangle similar to the one witnessed back in 2017. A breakout following the 41% rise would bolster the chances of an uptrend. While EGRAG admitted to not being able to predict the precise percentage increase, he identified the Fibonacci 1.618 level as his ultimate target.

XRP Could Target $27

Data from the chart suggests that the Fib. 1.618 point aligns with the $27 price, a value he has persistently argued that XRP could clinch. The path to this target features three potent Fibonacci resistance levels, with the first one resting on Fib. 1 ($3.31). The next two roadblocks sit at Fib. 1.236 ($7.36) and Fib. 1.414 ($13.5).

Breaching these levels would solidify the prospects of a push toward $27. Nonetheless, he stressed the importance of a well-thought-out strategy. Given the unpredictable nature of price movements, he advocates for a Dollar-Sell-Average approach. This method allows investors to systematically sell portions of their holdings as prices rise.

Meanwhile, in another analysis, EGRAG discussed XRP’s near-term momentum on the monthly time frame. He pointed to a significant bullish signal from the previous month. EGRAG noted a 75% Inverted Hammer formation at the bottom, a pattern often seen as a strong indicator of an impending upward trend. 

XRP Monthly Inverted Hammer EGRAG
XRP Monthly Inverted Hammer | EGRAG

The analyst is particularly optimistic about this signal, forecasting that the price could reach $0.75 in the near term. He even suggests that July 2024 might be a pivotal month characterized by substantial price fireworks. XRP currently trades for $0.4919, battling to recover and retain the support at $0.50. 

How $100 Weekly Investments in Shiba Inu Reached $641 Million

Mark Brennan
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0
How $100 Weekly Investments in Shiba Inu Reached $641 Million

Here is how a $100 weekly investment in Shiba Inu since August 2020 could have grown to $641 million by 2024, showcasing a 3,241,253% growth rate.

Since its debut in August 2020, Shiba Inu has shown remarkable progress as a cryptocurrency investment, capturing the attention of both novice and experienced investors. 

Its journey from obscurity to fame in just over a year is a testament to the unpredictable nature of the crypto space. Consequently, many investors who recognized the potential of Shiba Inu early on have witnessed significant returns on their investments, exhibiting the benefits of regular, consistent investing.

$100 Weekly Ante Turns Into $641.78 Million

According to data from CryptoDCA, consistently investing $100 weekly from August 2020 to the current month would have resulted in a total investment of $19,800. However, the remarkable aspect lies in the investment’s growth. During this period, the portfolio’s value would have skyrocketed to $641.78 million, reflecting an impressive growth rate of approximately 3,241,253%.

Conversely, if an investor had opted to invest $100 weekly from Shiba Inu’s launch until its all-time high (ATH) in October 2021, the total investment would have been $6,500. The returns on this investment would be even more spectacular. At its peak, the portfolio’s value would have soared to an astonishing $1.239 billion, representing a phenomenal growth rate of 19,064,676%.

Shiba Inu Price Action and Projections

As of press time, Shiba Inu is experiencing a notable rebound, with its price increasing by 8.43% in the last 24 hours to regain the critical $0.00025 price level. The cryptocurrency is now trading at $0.00002577, having risen above the 50-day exponential moving average (EMA). 

It is essential for this price level to become firm support to maintain these gains. Despite a minor setback of 7.36% over the previous week, the monthly increase stands at 3.85%. Additionally, the 24-hour trading volume has risen by 38.05%, reaching $891,844,698.

Despite a recent downturn, several analysts predict a significant rebound for Shiba Inu in the coming weeks. A recent analysis from The Crypto Basic highlights insights from William, a renowned Bitcoin expert who forecasts a notable surge in Shiba Inu’s value. According to William, SHIB’s target price is projected to reach $0.05, representing an extraordinary increase of 193,774%.

Here Are Top 5 Altcoins to Make Your Lambo Dream Come True 

Lele Jima
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0
Here Are Top 5 Altcoins to Make Your Lambo Dream Come True 

Prominent crypto expert and YouTuber Lark Davis highlights the top five altcoins that can make investors actualize their “Lambo” dream. 

The crypto market witnessed a major downturn yesterday, causing the prices of top assets to plummet heavily. Data from CoinGecko shows that the global crypto market cap was down 3% over the past 24 hours to $2.69 trillion. 

Despite the downturn, investors still express unwavering confidence that this bull season will surpass all previous records in crypto history. Therefore, investors are looking for the top altcoins that will potentially yield massive returns in the bull season. 

Top 5 Altcoins to Buy Now 

Responding to these inquiries, prominent crypto YouTuber Lark Davis highlighted the top five altcoins that could make investors’ Lambo dreams come true.

For context, Lambo, the short form for the exotic Lamborghini car, has become a favorite term used in crypto-related discussions. It is used to express excitement over getting rich from crypto investing. For instance, anytime an investor asks, “When Lambo?” it means when would the price of an asset rise. 

In his recent video, Davis highlighted the top 5 altcoins that could make investors’ Lambo dream a reality. 

Jupiter (JUP) 

Jupiter (JUP) is the first altcoin on the list. JUP is the native token of Solana-based decentralized exchange (DEX) aggregator Jupiter. The DEX allows users to swap tokens within the Solana network at optimal prices with low slippage and transaction fees. 

Although Jupiter launched in 2021, the team behind the DEX rolled out its native token on January 31, 2024. The token, which spiked to an all-time high of $2 at the time of its launch, is currently trading at $1.02, down 8.5% over the past 24 hours. 

Aerodrome Finance (AERO) 

The second altcoin on the list is Aerodrome Finance, a decentralized exchange built on Coinbase’s blockchain network Base. 

Launched in August 2023, Aerodrome aims to become the central liquidity hub for the Base blockchain by combining a user-friendly interface and a sophisticated liquidity incentive engine. AERO, which spiked to an ATH of $2.31 in April 2024, was trading at $0.99 at press time. 

Subsquid (SQD) 

According to Davis, Subsquid, a blockchain indexing service tailored for Web3, could be the Google of blockchain. The project is a web3 app facilitating rapid and cost-effective data sourcing for developers. 

SQD launched on May 17, 2024, across multiple exchanges, including KuCoin, MEXC Global, CoinList, Bybit, and Gate.io. At press time, SQD was trading at $0.15, up 8.8% over the past 24 hours. 

Oasis Network (ROSE) 

Launched in 2020, the Oasis Network is a Layer-1 blockchain built for scalability and privacy. Davis highlighted ROSE as the fourth altcoin that could make investors’ Lambo dream come true. ROSE was trading at $0.1 in the hours leading up to press time, marking a 24-hour decline of 8.8%. 

Fantom (FTM) 

Fantom (FTM), a Layer-1 blockchain launched in 2018, is the fifth and last altcoin on the list. At the current price of $0.72, FTM was down 79.1% from its all-time high of $3.46, registered on October 28, 2021.

It bears mentioning that the article is for informational purposes and does not represent investment advice. Davis urged investors to conduct due diligence before putting money into the aforementioned altcoins. 

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