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Here Are Projected Timelines for Shiba Inu to Soar to $0.000646 and $0.62

Lele Jima
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Here Are Projected Timelines for Shiba Inu to Soar to $0.000646 and $0.62

As Shiba Inu embarks on a relief rally, multiple entities have issued updated timelines for SHIB’s potential surge to $0.000646 and $0.62. 

The recent relief rally across the broader crypto market has presented an opportunity for Shiba Inu to recover some losses it incurred in the past weeks. 

SHIB is currently trades at $0.00002505, up 2.6% in the past 24 hours. This also represents an 11.3% surge in the weekly charts and a 1.2% increase over the past 14 days. Similarly, the recent development suggests that Shiba Inu’s price has risen 12.2% in the last month.

Following Shiba Inu’s recent rally, top prediction platforms have modified the timelines for the asset’s potential surge towards audacious price targets like $0.000646 and $0.62. 

Shiba Inu to $0.000646 

Reaching the $0.000646 price level may seem like a daunting task for Shiba Inu, considering that SHIB is expected to rally 2,478% from its current price. 

Nonetheless, prominent crypto prediction platform Telegaon suggests that Shiba Inu could hit the target by 2030. Telegaon sets the $0.000646 target as the average price for Shiba Inu in 2030. 

Meanwhile, analysts from popular crypto trading platform Changelly do not expect Shiba Inu to reach the $0.000646 target before 2032, eight years from now. By 2032, Changelly projects that Shiba Inu will trade at a minimum price of $0.0006769, an average price of $0.00069693, and a maximum price of $0.00081291. 

Shiba Inu to $0.62 

Shiba Inu’s potential surge to $0.62 poses a more challenging task for the crypto asset. To reach the $0.62 target, Shiba Inu must surge 2,474,949% from its current price of $0.00002505. 

However, Telegaon still thinks Shiba Inu can achieve this feat in its lifetime. For Telegaon, Shiba Inu could reach the $0.62 price level by 2050, 26 years from now. The $0.62 target is the minimum price level Telegaon expects Shiba Inu to record by 2050. The platform speculates an average price of $0.89 and a maximum price of $1.06 in the same year. 

Meanwhile, Changelly does not think Shiba Inu could reach the $0.62 target by 2050. By 2050, Changelly analysts expect SHIB to trade at a maximum price of $0.033. At press time, Changelly analysts have yet to issue any other prediction for Shiba Inu beyond 2050. 

Many investors may consider Shiba Inu’s potential surge to $0.62 to be unrealistic for the token, given its enormous circulating supply. The Shiba Inu community has been relentless in reducing SHIB’s supply via its ongoing burn campaign that has led to the incineration of over 410.7 trillion SHIB so far. 

At the moment, the Shiba Inu ecosystem team is already burning SHIB using a portion of Shibarium gas fees. There is a likelihood that the team could roll out more initiatives to intensify SHIB burns in the future.  

Additionally, Shiba Inu is also making significant moves to transition into a utility cryptocurrency project to bolster adoption. So far, Shiba Inu boasts its own non-fungible token, metaverse, decentralized exchange, L2 blockchain, and other upcoming initiatives. 

Here’s How Many Shiba Inu 92K Addresses Hold that Stand Between SHIB and $0.000139

Sam Wisdom Raphael
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Here’s How Many Shiba Inu 92K Addresses Hold that Stand Between SHIB and $0.000139

Shiba Inu faces several significant sell barriers on its path to $0.000139, one of which comprises 92,000 addresses collectively holding over 29 trillion SHIB tokens.

This is according to on-chain data from IntoTheBlock. Despite Shiba Inu’s current bearish market conditions, most investors remain optimistic. They continue to hold their positions, anticipating an imminent price upswing.

Shiba Inu trades at $0.00002491, awaiting broader market strength to break above the $0.000025 resistance and turn it into support. At its current price, SHIB is down 45.4% from the local peak of $0.00004567 in March. Nonetheless, analysts predict a return to this level as the bull run progresses.

Shiba Inu Faces Multiple Sell Walls

Amid the bullish projections, Shiba Inu continues to face resistance at $0.000025 due to a significant sell wall. However, SHIB is on the verge of overcoming this barrier, where 54,280 addresses collectively purchased 56.55 trillion SHIB at an average price of $0.000025.

If Shiba Inu surpasses this initial wall, it will encounter five more supply barriers on its path to surpassing the all-time high of $0.00008845 and reaching $0.000139. In terms of volume, the most immediate of these walls features 57 trillion Shiba Inu tokens, nearly 10% of the circulating supply, bought at a maximum price of $0.00003.

After surpassing this wall, Shiba Inu would need to breach three additional barriers, with respective volumes of 19.59 trillion SHIB, 9.58 trillion SHIB, and 3.3 trillion SHIB. Overcoming these obstacles would elevate Shiba Inu to the $0.000056 level, a value last seen in November 2021.

Over 92K Addresses Holding 29T SHIB

However, the path to $0.000139 includes a final sell wall at an average price of $0.000066. At this level, 92,630 addresses hold 29.77 trillion Shiba Inu. A rally to this price would likely face significant selling pressure as these holders sell off their positions to break even.

Shiba Inu GIOM IntoTheBlock 6
Shiba Inu GIOM | IntoTheBlock

To breach this price level, the bulls would need significant support, potentially ushering Shiba Inu into a price discovery phase. Many market observers anticipate SHIB reaching the $0.0001 level during this bull run. Just last month, analyst Eunice forecasted that Shiba Inu could reach $0.000125 in the second phase of its rally.

In addition, crypto chartist Cipher identified an Elliott Wave structure on the weekly chart, forecasting the third wave to propel SHIB to $0.0001. Additionally, last week, Dona, a prominent Bitcoin analyst, stated that $0.000114 would likely act as Shiba Inu’s ceiling price during this bull run.

Meanwhile, SHIB needs to break the immediate resistance at $0.00002556, currently aligning with the upper Bollinger Band on the daily chart. Taking out this level could provide enough support to the bulls to aim toward the $0.00003178 resistance. However, Shiba Inu needs to defend the support at $0.00002358 to retain its modest uptrend. 

How Do You Know It’s Time To Engage With A Crypto Marketing Agency

Esra Zuhal
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How Do You Know It’s Time To Engage With A Crypto Marketing Agency

With the crypto industry emerging as a viable market where one can earn significant amounts of revenue. Despite the growth of such an industry, a cryptocurrency’s value is dependent on how much and how much is being invested in it, from this need crypto marketing agencies have emerged.

These agencies then primarily position tailor-made products and/or services in the industry as a go-to solution to a problem that their clients have.

But despite all that, it is important to ask how can a crypto marketing agency help your business?

What is a Crypto Marketing Agency

In simple terms, crypto marketing agencies grant tractions to any blockchain ventures by making personalized or customized marketing strategies that are specifically targeted towards new users or potential investors.

To do this, these agencies possess complex knowledge of the crypto industry to help new clients navigate the competitive crypto market and attain their marketing goals.

Types of Crypto Marketing Agencies

With the competitive Crypto industry, there are also a variety of crypto marketing agencies each with their own strategies, expertise, and channels to reach their marketing goals.

According to comparison website Best Crypto Marketing Agency, these are the different types of service providers::

  • Media Buying and Advertising Agencies: Perhaps one of the most traditional marketing agencies, media buying and advertising agencies involve the use of purchased ad spaces on a variety of platforms. These platforms may come in forms such as websites, social media posts, and even billboards. Overall these types of agencies’ goal is to find the most effective means of reaching your target audience.
  • PR and Communications Agencies: These types of agencies specialize in building a client’s reputation and building a connection to the client’s target audience. As a crypto marketing agency, they primarily build or establish a cryptocurrency’s reliability and why the target audience should invest.
  • Social Media Marketing Agencies: Very much like typical marketing agencies, social media marketing agencies use social media platforms such as Facebook, TikTok, Twitter, Instagram, and other popular social media platforms to market cryptocurrencies. Usually, these agencies use social media posts, graphics, and videos to attract investors.
  • Crisis and Reputation Agencies: Very much like any event, a crisis could affect a client’s reputation, in the crypto industry this may come as the downfall of a currency’s value or even a data breach. To mitigate or even solve these problems, crisis and reputation agencies use their knowledge to find solutions to a client’s problem through marketing strategies.

How Does a Crypto Marketing Agency Differentiate from a Traditional PR Agency?

Although both types of marketing are similar in some way, what makes each different from the other is that crypto marketing agencies have more in-depth or specific knowledge of both the crypto and blockchain industries.

Traditional PR agencies tend to have general knowledge about the wider target audience and are usually marketing towards a much larger audience through universal marketing strategies.

Meanwhile, crypto marketing agencies cater to a specific audience who are interested or knowledgeable of cryptocurrency and blockchain technology. What separates these individuals is that they possess tech know-how, value their own privacy, and are typically avoided or are not attracted to traditional marketing strategies.

As such, crypto agencies must have deep knowledge of the crypto industry and employ tailored strategies to make crypto campaigns more effective.

Why Should You Hire a Crypto Marketing Agency If I Can Try Solo?

Overall, you can always try to do it yourself, especially if you have your own general knowledge of the crypto industry, but this does not compare to the extensive knowledge of crypto marketing agencies.

At the same time, when engaging in a highly competitive crypto market having a reliable and solid marketing agency and strategy is a crucial means towards success.

This is because crypto marketing agencies bring in a large pool of experience and knowledge that you can have to effectively reach your audience and gain an advantage over others.

Key Takeaways

Overall, with the competitive nature of the crypto market, crypto marketing agencies have emerged to provide their knowledge. At the same time, these crypto marketing agencies also grant their clients with expert knowledge and help them navigate the competitive and complex nature of the crypto market.

From this, various crypto marketing agencies emerged. A good example of such are PR and advertising agencies that attract new users and investors by building a client’s reliability and currency’s value. Another good example are social media marketing agencies that use social media platforms to attract potential investors.

In the end, what makes a crypto marketing agency essential, is their extensive knowledge of how the crypto market works as well as strategies that are tailor-made towards tech-savvy audiences.

And so, by employing reputable crypto marketing agencies, projects can maximize their visibility, build credibility, and ultimately drive adoption.

Disclaimer: This article is provided by the Client. The Client is solely responsible for this page’s content, quality, accuracy, products, advertising, or other materials. Readers should conduct their own research before taking any actions related to the material available on this page. The Crypto Basic is not responsible for the accuracy of info and any damage or loss caused or alleged to be caused by the use of or reliance on any content, goods, or services mentioned in this article.

Please note that The Crypto Basic does not endorse or support any content or product on this page. We strongly advise readers to conduct their own research before acting on any information presented here and assume full responsibility for their decisions. This article should not be considered investment advice.

Bitcoin Cash Price Nears $500: Will it Advance or Retrace?

Mark Brennan
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Bitcoin Cash Price Nears $500: Will it Advance or Retrace?

Bitcoin Cash price reached a 10-day peak of $478 on May 17, but compared to the likes of Solana, BCH has underperformed this week.

On-chain data shows that investors on the BCH network have considerably increased the spate of large-ticket transactions this week, raising hopes of an imminent price breakout.

BCH price mirrors market rally with 16% gains in 3 days

Mega-cap crypto assets witnessed a significant demand surge this week, thanks to cooler-than-expected inflation observed in the latest US CPI data reports on May 13.

Bitcoin Cash (BCH) Price Action vs. Crypto Market TOTALCAP
Bitcoin Cash Price Action vs. Crypto Market TOTALCAP

The global crypto market capitalization has jumped 9.5% this week, pulling in $200 billion capital inflows in the process, according to the TradingView chart above. Notably, the likes of Solana (SOL) and PEPE have dominated the top gainers’ chart. However, with a 15.8% upswing in the last 3 days, BCH price action is not far behind.

At the time of publication on May 17, BCH price has surged 6% within the 24-hour timeframe, crossing the $470 mark for the first time in 10 days.

Investors are placing bigger bets anticipating BCH another breakout

Bitcoin Cash’s 15.8% uptick in the last 3 days is nothing to scoff at. However, on-chain data trends suggest investors are making strategic moves to front-run another leg up in the ongoing BCH rebound phase.

IntoTheBlock’s chart below represents the average size of all transactions executed daily on the Bitcoin Cash network, providing real-time insights into investors’ sentiment towards the current price trend.

Bitcoin Cash Price vs. BCH Average Transaction Size | IntoTheBlock
Bitcoin Cash Price vs. BCH Average Transaction Size | IntoTheBlock

As seen above, Bitcoin Cash average transaction has been on the rise over the past week. On May 13, it surged to a monthly peak of 51.2 BCH, reflecting a remarkable 500% increase from the local low of 4.1 BCH recorded on May 10.

Typically, strategic investors may view such considerable increase in average transaction size as a prime bullish signal for two key reasons.

First, larger transactions often indicate the involvement of institutional investors or high-net-worth individuals.

These entities usually conduct thorough market analysis before making substantial investments, signaling their confidence in the asset’s potential for growth. When institutional players enter the market, it often leads to increased liquidity and stability, encouraging other investors to follow suit.

Secondly, a rise in average transaction size amid a market wide rally suggests that Bitcoin Cash is being used for significant financial activities, such as large-scale payments or purchases.

These factors could combine to propel BCH price to new heights in the second half of May 2024.

BCH Price Forecast: $500 Milestone Now Within Reach

Bitcoin cash price has reached the $472 mark at the time of writing on May 17, up 15.8% in the last 72 hours. However, the 500% surge in the daily average transaction size suggests BCH price is now likely to charge towards the $500 territory in the days ahead.

But notably, the Parabolic SAR technical indicator currently points towards $491, which is higher than the current BCH price at $472.

Bitcoin Cash Price (BCH) Forecast
Bitcoin Cash Price Forecast

This alignment suggests that the bears still have significant leverage and could mount a major resistant sell wall at the $491 level. If investors keep executing large ticket BCH transactions, it could generate additional momentum to propel Bitcoin Cash price towards $500 as predicted.

But if, on the contrary, investors opt to take a more cautious approach, a reversal towards the $450 psychological support could be on the cards.

Ex Federal Reserve Discusses Ripple and XRP Role in US Public Policy

Sam Wisdom Raphael
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Ex Federal Reserve Discusses Ripple and XRP Role in US Public Policy

A former Federal Reserve official calls attention to the role Ripple and XRP play in shaping the crypto public policy scene in the United States. 

Gregg Kidd, a former Senior Analyst at the Federal Reserve Board for payments, discussed this while speaking at the just-concluded XRP Las Vegas 2024 conference. Kidd, who also served as an early Ripple employee, commended the firm for how far they have come.

Kidd Discusses His Switch to Ripple

In his remarks, the Nevada congress candidate emphasized that he first heard about Ripple while working at the Federal Reserve, noting that the San Francisco-based payments company, which at the time was an emerging one, caught his attention due to its promise. 

“I did go from working for the Federal Reserve, which was the deep state, to a poker game with other deep state players like from Google and Visa, and they talked about this new company. There was no Bitcoin company, but there was a company called Ripple,” Kidd remarked.

According to him, Ripple’s module was similar to the Bitcoin ledger at the time, but included two more columns on the spreadsheet, with one of these columns dedicated to the issuer and the other for the currency. 

He expressed gratitude to two of the XRP Ledger’s original architects Arthur Britto and David Schwartz for taking the time to educate him on the “future.” Kidd confirmed that this move made him pivot from the “history world at the Federal Reserve to the whole new universe that XRP and Ripple brought.”

Ripple’s Role in Shaping Public Policy

It bears mentioning that Gregg Kidd joined Ripple as a Chief Risk Officer in 2013. He disclosed that at the time he discussed risk management and compliance with Chris Larsen, Ripple’s Executive Chairman. However, Larsen was doubtful of the necessity of this effort, as Ripple had no compliance issues then.

Ripple has so far had to battle the U.S. SEC for over three years on issues of compliance since December 2020 when the agency filed a lawsuit against the firm. The legal battle marked one of the first cases of enforcement actions against a crypto firm, and Ripple has continued to fight the SEC.

The lawsuit led to the declaration of XRP as a non-security by a U.S. court. With the SEC now battling multiple crypto companies, including Coinbase and BinanceUS, this ruling could be cited by these forms to dismiss the SEC’s securities allegations. Recall that Terraform Labs already cited the ruling in its case against the SEC.

Commenting on this reality, Kidd expressed pride in Ripple’s role in shaping the public policy in the U.S., especially in the crypto scene. Multiple industry commentators have identified Ripple as being at the forefront of this fight against regulatory uncertainty in the United States.

Can You Really Use the XRP Ledger Without Internet? Ripple CTO Explains

Abdulkarim Abdulwahab
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Can You Really Use the XRP Ledger Without Internet? Ripple CTO Explains

Recently, speculation erupted in the XRP community that the XRP Ledger (XRPL) has offline capability to process XRP payments without the internet.

Promoters of this view include community member “SMQKE,” who presented at least three pieces of “evidence” of XRP payments conducted offline. They were demonstrations of payment systems where users could access their XRP balance and even make transactions via offline channels such as SMS.

One cited example involved iBonus’ offline payment for retail CBDC, which used QR codes and Bluetooth Low Energy for transactions without the internet. This mobile payment solution leverages the XRP blockchain for secure, traceable payments.

Additionally, an XRPL.org blog post featured Mandla Money, highlighting it as a wallet service that facilitates the sending, receiving, and storing of digital assets through SMS, bypassing the need for smartphones or internet access.

These examples of offline payment solutions led SMQKE to suggest that the XRPL indeed has support for offline functionalities. However, prominent figures in the XRPL developer community have come forward to disprove the claim as it has gained traction in the community.

XRPL Has No Offline Capabilities 

Vet, an XRPL dUNL validator, asserted that the XRPL lacks offline functionality. He clarified that Mandla Money uses destination tags just like crypto exchanges. He noted that this method does not move funds on the blockchain but rather adjusts users’ XRP credits based on their tags.

Furthermore, Vet mentioned that even if Mandla Money were to implement a system that moves funds on-chain in response to SMS or Bluetooth triggers, it would still require online activity. Besides, he noted that such a mechanism is not unique to XRPL and could be replicated on any blockchain. 

Similarly, Wietse Wind, founder of XRPL Labs confirmed that the XRPL itself does not support offline transactions. He acknowledged that while offline verification of validations is possible with the correct data, any device conducting transactions must have a connection to an online entity. In essence, internet access is required at some point in the transaction process.

Ripple CTO Agrees

Ripple CTO David Schwartz concurred with Wind’s assessment. Schwartz noted that for a transaction to occur on the XRPL, it must be transmitted to the internet somehow. He clarified that so-called offline transactions on the XRPL either do not actually occur on the ledger or must involve an intermediary with internet connectivity.

Despite these clarifications, SMQKE continued to stir the conversation by presenting a video claiming XRPL transactions could be conducted via radio waves and satellites without an internet connection. 

Vet responded by clarifying that SMQKE is conflating XRPL’s inherent features with third-party applications that act as intermediaries to initiate online transactions.

Vet used an analogy to illustrate his point, comparing the situation to training a parrot to input a PIN code for a transaction. He rhetorically asked if this would imply that the XRPL is now ‘Parrot enabled,’ highlighting the falsity of claiming that the ledger itself has offline capabilities based on such indirect methods.

Solana Price Forecast: SOL Trading Volume Spikes 300%, Will it Retest $200?

Mark Brennan
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Solana Price Forecast: SOL Trading Volume Spikes 300%, Will it Retest $200?

Solana price hit a 35-day peak of $170 on May 17, up 44% for the month, but spikes in SOL trading activity suggests more upside could follow in the days ahead. 

Solana Spikes 22% as GameStop Triggers Memecoin Mania

Solana has emerged the best performing asset in the top 10 crypto market ranking this week. As the GameStop saga resurfaced, triggering a surge in memecoin demand, investors swooped in to scoop up prominent Solana-hosted memes like Dogwifhat (WIF) and BONK.

This surge in native memecoin demand has inadvertently led to increased demand for SOL.

Solana price action vs. Dogwifhat (WIF), BONK
Solana price action vs WIF, BONK

Solana price has surged 22% since the GameStop rally broke out on May 14. At the time of writing on May 17, Solana is exchanging hands for $168.9 reflecting a 44% uptick for the month.

However, a closer look at the WIF (39.5%) and BONK (+26%) daily price charts shows that Solana’s top 2 largest meme projects have also scored significant double-digit gains in May 2024.

SOL Trading Volume Spikes $2.7 Billion amid Memecoin Mania

Notably, in recent months, periods of heightened memecoin demand have often triggered considerable SOL price surge, as it essentially boosts Solana network activity. And this bullish phenomenon appears to have reared its head again this week.

Santiment’s Trading Volume chart below records the dollar value of all transactions involving SOL during a 24-hour period.

Solana Price vs. SOL Trading Volume  | Santiment
Solana Price vs. SOL Trading Volume | Santiment

As seen above, Solana trading volume reached a monthly low of 936.5 million on May 12. But since the start of the week, Solana has witnessed a considerable uptick in trading activity.

Further intensified by the GameStop inspired memecoin rave, Solana trading volume has already crossed the $3.61 billiion mark at midday on May 17. This reflects a remarkable $2.7 billion surge in trading volume between May 12 and May 17.

When trading activity surges during a market rally, it often drives prices further upward for two main reasons. First, the increased market liquidity allows early profit-takers to exit without derailing the rally.

More so, the higher trading volumes is a prime indicator of fresh capital inflows and increasing investor participation. All of these factors could combine to drive Solana price further upwards in the days ahead.

SOL Price Forecast: $200 Target on the Horizon

Solana price has gained bullish momentum this month, soaring 44% from $126 to a 35-day peak of $170 on May 17. The $2.7 billion surge in trading volume this week suggests Solana price is now set for another breakout towards the $200 in the days ahead.

However, looking at the daily price chart, the $180 area is a critical short-term resistance level to watch. With SOL having broken above the upper-limit Bollinger band indicator, bulls appear to be in firm control of the market momentum.

Solana SOL price forecast
Solana SOL price forecast

If the bulls keep up the heightened trading volumes, Solana price will likely advance above $180 and head towards the $200 milestone as predicted.

But on the downside, the bears could regain foothold in the market if price tumbles below $140. However, as depicted by the 20-day SMA indicator, the bulls will likely regroup around the $146 level to prevent such a major price reversal.

Leading US Dental Firm Now Accepts Shiba Inu Payments

Albert Brown
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Leading US Dental Firm Now Accepts Shiba Inu Payments

U.S. dental firm Amoré Orthodontic Aligners now accepts Shiba Inu as payment, marking another mainstream application for the crypto.

Amoré Orthodontic Aligners, a firm in the orthodontic technology, has announced that it will now accept Shiba Inu as a payment method for braces, retainers, and other services. This announcement closely follows Shiba Inu’s sponsorship of the Blockchain Futurist Conference in Canada, further highlighting the token’s expanding utility in mainstream applications.

According to their website, Amoré Orthodontic Aligners is renowned for providing affordable, comprehensive orthodontic care from US board-certified specialists. The company’s approach allows patients to receive personalized treatment plans, with each aligner crafted specifically for individual smiles. They offer complete lower and upper arch teleorthodontic treatment, making high-quality dental care accessible and now payable with Shiba Inu.

Shiba Inu Lead Teases More Growth

Further, amid the multiple bullish events, Shytoshi Kusama, the pseudonymous lead developer of Shiba Inu, hints at more upcoming developments within the ecosystem.

The recent launch of ShibaSwap on Shibarium marks a notable move. Kusama expressed pride in the achievement and thanked contributors like SHIB developer Kaal Dhairya. He also teased more innovative projects, indicating that the Shiba Inu Army should expect further advancements in the ecosystem.

Another noteworthy development in the Shiba Inu ecosystem is the transformation of the Welly Friends NFT project. Announced on social media, the NFT update, dubbed Horizon Expands, introduces hand-drawn art to replace the previous 3D renderings. This artistic reimagining aims to bring unique personalities and charm to each Welly Friend NFT.

The update also expands the NFT collection with engaging narratives and adventures, inviting users to explore a vibrant digital scene filled with storytelling. This enhancement enriches the overall NFT experience, offering more than just visual appeal.

SHIB Market Performance

In addition to these, Shiba Inu was recently dubbed sponsor of the Blockchain Futurist Conference, Canada’s largest blockchain event scheduled for August 13-14, 2024, in Toronto. The conference, which includes ETHToronto and ETHWomen, follows Shiba Inu’s participation in the TOKEN2049 conference in April.

The latest report comes at a time when Shiba Inu is priced at $0.00002493, with a 24-hour trading volume of $513,842,292. Despite a slight price decline of -0.39% in the past 24 hours, SHIB has experienced a 6.02% increase over the last week.

NFT Founder Reveals Top 5 Crypto Picks for This Bull Run

Abdulkarim Abdulwahab
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0
NFT Founder Reveals Top 5 Crypto Picks for This Bull Run

Karan, the founder of the NFT project Alpha Husky Club, has disclosed the top five cryptocurrencies in his crypto investment portfolio for this bull run. 

The crypto community eagerly awaits the second phase of this season’s bull rally, and notable figures continue to disclose crypto assets they hold to position for the buoyant market. Karan has joined the roster of commentators who shared insights into their crypto portfolios.

At the top of his holding is XRP, the seventh-largest crypto by valuation. XRP is the only crypto asset among the top ten ranking assets in the market that Karan holds for this bull run. Other assets making up his portfolio are low-cap crypto projects.

Specifically, the crypto influencer holds Flare (FLR), WadzPay (WTK), Hedera (HBAR), and Algorand (ALGO).

Notably, Karan did not specify what drove his choice of these assets. Yet, it is inferable that their current and past performances, along with their unique roles in the blockchain industry, likely influenced his decision.

The Case for Holding XRP

For instance, XRP remains a favorite asset in the crypto scene given its utility in payment and settlement transactions. Moreover, in the 2017/2018 bull season, XRP was one of the best-performing assets as it delivered returns of 750X in less than a year for holders. 

This impressive history is often used by analysts to forecast XRP’s potential in the current season.

However, XRP’s more recent price history has been underwhelming, dampening optimism about its potential this season. For instance, in the first phase of this season’s bull rally, XRP was outperformed by 61 assets among the top 100 tokens by market cap. 

Nonetheless, market observers hold that XRP’s moment is yet to arrive, similar to the 2017/2018 season, when its explosive surge came at the very end of the bull run frenzy.

The Case for Holding FLR, WTK, ALGO, HBAR

Meanwhile, Karan’s two other assets—FLR and ALGO—show similar lackluster performance.

FLR is down 13% over the last 30 days. Investors who have held this token since last year currently hold it at a 0.14% gain, essentially at zero profit. Conversely, those holding FLR since its 2023 launch have suffered losses exceeding 65%.

Similarly, the earliest ALGO investors shoulder a more staggering loss of 94% with the asset’s price at $0.1794. Meanwhile, those who bought ALGO a year ago made profits of only 6.5%.

On the other hand, WTK and HBAR, which Karan holds for the coming bull run, are notable performers in recent times. HBAR preserves positive gains across its seven-day, 30-day, and one-year timeframes. Likewise, WTK retains a more substantial 164% gain since last month and a 229% return since last year.

Shiba Inu Says Get Ready for an Exciting Transformation

Sam Wisdom Raphael
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Shiba Inu Says Get Ready for an Exciting Transformation

The Shiba Inu ecosystem team teases an “exciting transformation” involving the NFT project from its long-term partner Welly Friends.

The team disclosed this in a recent post on X, spotlighting the NFT update dubbed Horizon Expands. This update, which breathes new life into the Welly Friends NFT collection, will feature hand-drawn art that replaces the previous 3D renderings.

In the announcement, the Shiba Inu ecosystem team called attention to revelations made by the team behind Welly Friends in an X Spaces session. Details suggest an artistic reimagining of every Welly Friend NFT. 

Features of the New Welly Friends NFT Update

Interestingly, the new development would see these NFT collectibles and profile pictures depicted with intricate details that show their unique personalities and charm, the announcement confirmed. This switch is a significant leap from the collection’s past designs.

In addition to the visual overhaul, Welly has expanded the NFT collections to also feature interesting narratives and adventures. Accordingly, they are inviting users to explore a digital scene filled with imagination and storytelling, further enriching their NFT experience.

According to Shiba Inu, the transformation of the Welly Friends collection further reflects the brand’s real-world business success, particularly the growth of its fast-food restaurants. Welly aims to showcase the potential of NFTs to transcend the blockchain scene with this blend of digital art and tangible business.

Interestingly, the refreshed collection is designed to appeal to a broad audience, including collectors, artists, and story enthusiasts, emphasizing the power of community and shared experiences.

Shiba Inu and Welly Sustain Age-long Partnership

Shiba Inu ecosystem lead Shytoshi Kusama reinforced the partnership between Shiba Inu and Welly in February 2022. The collaboration aimed to integrate blockchain technology with a real-world business model, offering a dining experience that combines innovation, health, and taste.

In April 2022, Welly revealed that Shiba Inu had acquired a 15% ownership in the fast-food chain, and the collaboration has since flourished, with Welly accepting SHIB as a form of payment and planning to integrate Shiba Inu’s Layer 2 Blockchain, Shibarium.

The Welly Friends NFT collection was introduced in 2022 to support the franchise’s growth and provide exclusive benefits to holders, such as access to franchise licenses and a share of net profits from Welly locations. 

This approach set a precedent for how NFTs can offer real-world value and community rewards. The recent update looks to expand these capabilities. Meanwhile, Shiba Inu also continued to extend its reach in the NFT scene with Shiboshis and the recent introduction of SHEboshis, a DN-404 standard token.

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