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Analytic Platform Forecasts Shiba Inu to Spike Over 150% to $0.000069

Lele Jima
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Analytic Platform Forecasts Shiba Inu to Spike Over 150% to $0.000069

Despite the ongoing bearish trend across the broader crypto market, top analytic platform CoinCodex expects Shiba Inu (SHIB) to witness a price surge of over 150% by month-end.  

The prices of various crypto assets, including Shiba Inu (SHIB), have plummeted heavily since this month. SHIB, which spiked over 250% in March, has recently lost most of its gains due to increased volatility across the broader market. 

At press time, Shiba Inu’s price has declined 9.52% since the beginning of this month. Similarly, the top canine-themed token is also down 0.5% over the past 24 hours. 

Meanwhile, Shiba Inu’s recent downtrend may not last much longer, as the token is projected to record a massive price surge by the end of this month. 

CoinCodex Forecasts Over 150% Price Surge for Shiba Inu  

Prominent crypto analytic platform CoinCodex forecasts that Shiba Inu could reach a price of $0.00006983 by May 1. At the time of the prediction, the platform noted that Shiba Inu’s potential move to $0.00006983 represents a price surge of 151.4%. 

However, with SHIB currently changing hands at $0.00002788, Shiba Inu’s rally toward the $0.00006983 level marks a price increase of 150.46%. 

Interestingly, CoinCodex also expects Shiba Inu to reach a whopping $0.00009102 by May 12, marking a 226% from the current price.

It is worth noting that the prediction is expected to play out after the Bitcoin Halving, scheduled to occur between April 19 and 20. After the event, Bitcoin miners’ rewards would be slashed in halves, from 6.25 BTC to 3.125 BTC. 

The rationale behind this move is to combat inflation and maintain scarcity by slowing down the pace of new token creation. In return, the action could bolster Bitcoin’s price to unprecedented levels. Since Shiba Inu moves in tandem with Bitcoin, SHIB has a good chance of rallying alongside BTC after the highly anticipated halving event. 

Meanwhile, the favorable prediction issued by CoinCodex for Shiba Inu comes a few days after Elon Musk’s AI chatbot Grok forecasted that SHIB could reach a whopping $0.00009508 by April 3. 

Shiba Inu Joins Industry Giants Apple and Netflix at CDSA to Secure the Future of Entertainment

Abdulkarim Abdulwahab
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0
Shiba Inu Joins Industry Giants Apple and Netflix at CDSA to Secure the Future of Entertainment

Shiba Inu has secured another significant collaboration, teaming up with the Content Delivery and Security Association (CDSA) to address AI-driven content challenges through Shibarium.

The Shiba Inu ecosystem team disclosed this latest move via an official blog post yesterday, April 11. Shiba Inu’s marketing specialist, Lucie, called attention to the development in a recent post on X.

CDSA and Shiba Inu aim to leverage blockchain’s security measures within the media and entertainment industry.

Shiba Inu Joins Apple, Amazon, Netflix at CDSA 

For context, CDSA is a global nonprofit organization established in 1970 to set industry standards for storing and delivering entertainment. The organization’s primary focus is ensuring content security, authenticity, and protection.

In a statement, Shiba Inu lead developer, Shytoshi Kusama, emphasized the significance of the new partnership, emphasizing that CDSA’s members encompass some of the most prominent entities in the entertainment industry. Specifically, these members include Apple, Adobe, Amazon, BBC, Disney, Lionsgate, Netflix, NBCUniversal, and Skydance.

Shiba Inu’s Solution to CDSA Members

According to the report, Shiba Inu’s partnership with CDSA will considerably enhance CDSA’s focus on the security, authenticity, and protection of content. Moreover, it will offer valuable expertise to CDSA’s members as they explore blockchain within their content development and distribution supply chains.

“We look forward to providing a unique and blockchain-first perspective to CDSA’s work in helping media and entertainment executives better utilize these innovative technologies, especially as blockchain and artificial intelligence converge,” Kusama remarked.

Remarkably, Shiba Inu’s partnership with CDSA is a landmark milestone for the blockchain industry. It marks the first instance of a layer-2 blockchain like Shibarium joining forces with a prominent media and entertainment association.

Recall that Shiba Inu also secured the first move to establish a robust Web3 identity for enthusiasts by partnering with D3 Global to launch a “.shib” extension that resolves in a web browser.

Notably, this latest collaboration with CDSA arrives at a critical junction, coinciding with growing concerns about the proliferation of plagiarism and deep fakes, largely fueled by AI advancements. 

The report noted that under the Shiba Inu partnership, CDSA’s members will be empowered to advance their comprehension and utilization of blockchain technology in their content distribution processes.

The partnership is expected to introduce solutions that advance the blockchain industry and catalyze a revolution in the entertainment sector.

Interestingly, this latest partnership comes just five weeks after Shiba Inu partnered with Paris-based cryptography firm Zama. 

Ripple Issues Critical Warning to XRP Holders Regarding Fake Giveaway

Lele Jima
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0
Ripple Issues Critical Warning to XRP Holders Regarding Fake Giveaway

San Francisco-based crypto payments company Ripple has alerted XRP community members to a scam ravaging its ecosystem. 

In a recent tweet, Ripple cautioned XRP holders to remain vigilant and never participate in any XRP-doubling program. 

Scammers Target XRP Community 

For the uninitiated, these scammers leverage artificial intelligence (AI) tools to clone top Ripple executives, like the company’s CEO Brad Garlinghouse, to promote these giveaways. 

The illicit actors sometimes ask users to click a phishing link to participate in the fake giveaway program that promises to distribute thousands of XRP in rewards. Participants of these programs are urged to send their XRP funds to an address to receive double of any amount sent.  

Some unsuspecting XRP holders have already fallen prey to these fake giveaway programs. However, it is unclear how much XRP has been stolen so far. 

Ripple Issues New Warnings

As more XRP-doubling scams continue to make rounds within the XRP community, Ripple publicly clarified that it would never make such requests from crypto investors. 

Ripple emphasized that neither the company nor any of its execs, including Garlinghouse, Stuart Alderoty (CLO), Monica Long (President), and David Schwartz (CTO), will ever ask users to send XRP to the company. 

The leading crypto payments company attached a demo video to the tweet, illustrating how scammers utilize AI tools to lure unsuspecting investors into participating in the malicious giveaway. 

In the video, an imitation of Garlinghouse encouraged users to engage in an XRP giveaway initiative, enticing them to double their coins by sending them in. However, the authentic Ripple CEO also appeared in the video to rebut the assertions of any such ongoing giveaway.

Ripple Fights Back  

Furthermore, Garlinghouse warned the scammers, whom he labeled as pathetic lowlifes, that their actions are being monitored and that the company is taking measures to combat these fraudulent activities. 

It is worth mentioning that scammers have been targeting XRP holders since Ripple secured a partial victory against the U.S. SEC in July 2023. 

At the time, these illicit actors announced a malicious XRP giveaway, noting that the move was part of an effort to celebrate Ripple’s victory over the SEC. They took a more aggressive approach toward the end of last year, leveraging AI tools to create deepfake videos promoting these scams. 

The deepfake videos feature Garlinghouse urging XRP community members to participate in the illicit giveaway. As usual, Ripple has been resilient in debunking these claims to protect unsuspecting investors from falling prey to these scams. 

Pundit Unveils Crucial Facts to Consider Before Using the XRP Ledger AMM

Sam Wisdom Raphael
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Pundit Unveils Crucial Facts to Consider Before Using the XRP Ledger AMM

Panos Mekras, the co-founder of Anodos Finance, recently unveiled facts about the XRP Ledger (XRPL) AMM that network participants should consider before using it.

The disclosure comes at an opportune time, as the XRPL community recently reactivated the AMM functionality following the implementation of an amendment fix to an earlier issue encountered by the feature. Notably, with this fix, AMM pools are now operational, and trading has resumed.

Notably, following the fix, the number of AMM pools on the XRP Ledger has increased to 259, according to data from XRPScan. In addition, the total XRP locked across these AMM pools has skyrocketed to 1.6 million tokens, up from the 820K+ reported by The Crypto Basic yesterday.

The XRPL AMM Unique Composition

Amid the enthusiasm, Mekras took to X to outline some facts to consider about the AMM before anyone starts using it. He stressed that the XRPL AMM is not just another decentralized exchange, as its workings leverage the existing age-old XRPL DEX. 

For context, the XRPL DEX is one of the oldest decentralized exchanges in the market. The integration with the DEX is especially crucial, offering users the ability to trade assets around the clock with liquidity that is globally accessible. 

Mekras emphasized that while AMMs democratize finance by allowing users to act as their own banks and market makers, this role is not one-size-fits-all. It demands a certain acumen, as the risks are as real as the opportunities. 

According to him, the XRPL AMM, in particular, operates on a geometric mean model with a unique weight parameter, setting it aside from its peers and enabling it to function like a constant product market maker.

He noted that it boasts over 8,000 XRPL tokens, offering flexibility. Users can create liquidity pools with any two tokens, eliminating the necessity for XRP as a mediator. This feature allows users to tailor their trading strategies to their preferences.

A Note for Potential Liquidity Providers

However, Mekras stressed that engaging with the XRPL AMM is more than just creating pools – it also requires an understanding of the economics of liquidity provision. As a result, ordinary users not ready to navigate the risks can just leverage the AMM for trading.

Notably, when assets are contributed to the AMM, they become part of a larger trading ecosystem, and providers are compensated with fees from trades. These fees are distributed based on ownership share within the pool, allowing liquidity positions to grow organically.

He also called attention to the concept of impermanent loss (IL). IL represents the potential difference in asset value when compared to simply holding them. Yet, Mekras reassures that IL should not deter participation. 

Instead, it can be offset by the fees earned through active trading within the AMM. The key is to contribute assets that one is willing to utilize within the AMM, rather than those intended for long-term holding.

He emphasized that not all liquidity pools carry the same level of IL risk. For instance, pools pairing stablecoins or highly correlated cryptocurrencies typically experience minimal IL. This understanding of risk is vital for anyone looking to provide liquidity, especially in pairs like XRP/stablecoin, which offer a balanced exposure to the volatility of XRP.

Mekras also noted the importance of practice before diving into the deep end. Anodos Finance provides a devnet platform for users to familiarize themselves with the AMM mechanics without financial risk. Once comfortable, users can transition to the mainnet, where real assets come into play.

Market Veteran Sets Audacious $288 XRP Target Following Crucial Resistance Breach

Sam Wisdom Raphael
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0
Market Veteran Sets Audacious $288 XRP Target Following Crucial Resistance Breach

According to Javon Marks, XRP could well be on its way to an audacious $288 price after breaching its largest resistance level on the 18-day timeframe.

The analyst made this claim while updating his XRP outlook based on current market conditions. Javon’s ambitious projection leverages historical data pertaining to past performance.

His initial analysis came up two months back when XRP was facing bearish pressure. At the time, XRP had collapsed from a high of $0.5795 on Feb. 16 to $0.5438. Amid the downturn, Javon stressed that the 18-day chart had confirmed another series of higher lows, hinting at a possible push toward greater prices.

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According to him, XRP had recorded another massive breakout by late February, with a confluence of these factors contributing to his optimism. Since the earlier analysis, XRP has faced a series of upswings and declines, with no significant push forward.

An Updated Analysis

However, the market veteran has now revisited his analysis, re-affirming his confidence in the imminent price surge while considering projections on a logarithmic scale. Javon’s chart suggests that the analyst’s price projections are based on insights from historical data.

For context, XRP faced a similar setup from late 2013 to early 2017. Within this period, it recorded a price suppression due to a persistent downward trendline. However, after breaking above the downtrend in early 2017, XRP witnessed an impressive 63,080% surge to the ATH of $3.31 in January 2018.

The market has witnessed a repetition of this setup, with XRP seeing a similar downtrend from January 2018 to July 2023. Notably, XRP broke above the downward trendline when it rallied to $0.93 on July 13, 2023. However, the correction that ensued saw it retest the trendline.

Following this retest, XRP has now pushed further above the downtrend, with Javon expecting it to replicate the previous upsurge. He believes XRP has now breached its largest resistance on the 18-day chart, and could be posed for a rally. 

Projections of an XRP Rally to $288

Data from his chart shows that he expects XRP to increase by up to 61,000%, which would push its price to the $288 price territory from here. Speaking further, he claimed that a 33,000% increase, which could take XRP to $197, is “more than possible,” noting that it is already in the works.

However, these predictions have been swiftly dismissed by investors due to its ambitious nature. Notably, at a price of $288, XRP’s market cap would stand at $15.8 trillion, rivaling Gold, the largest asset by market cap. Despite this, some pundits also believe an XRP rise to $1,000 is possible.

Meanwhile, XRP still struggles to reclaim $1, currently trading for $0.5998 at the reporting time, with a 2% increase over the last 24 hours. XRP further boasts a volume of $873 million over the last 24 hours despite a 7.99% drop.

Ripple CEO Speaks on the Prospect of Seeing an XRP ETF

Sam Wisdom Raphael
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0
Ripple CEO Speaks on the Prospect of Seeing an XRP ETF

The Ripple CEO Brad Garlinghouse recently spoke on the prospect of the market witnessing the launch of a spot XRP ETF amid the success of spot Bitcoin ETFs.

Garlinghouse’s latest remarks came in an interview at the Paris Blockchain Week, one of Europe’s largest blockchain events, which was held at the Carrousel du Louvre this year. 

The prospect of a spot XRP ETF has been the subject of discussion among industry pundits following the launch of the Bitcoin-based products. Interestingly, U.S. asset managers have also filed to introduce spot Ethereum ETFs in the market, but this move currently faces potential turbulence.

While some Bitcoin maximalists would like to believe that the SEC could only approve spot Bitcoin ETFs, Garlinghouse emphasized at the Paris Blockchain Week that he thinks the U.S. market will witness the launch of ETFs tracking other crypto assets besides BTC.

The Crypto Basic reported in January that Garlinghouse noted that he would welcome a spot XRP ETF product. He said this while speaking in a Bloomberg interview, asserting that the launch of the product is “inevitable.” 

The Ripple CEO recently reaffirmed his confidence amid current market conditions. “I think there will be other ETFs,” he disclosed. However, Garlinghouse emphasized that while these ETFs could emerge, it might take a long time before they hit the market.

Ripple CEO: SEC Could Delay ETF Launch

According to him, this projected delay will be due to the SEC’s aggressive stance. Notably, the securities regulator has continued to delay a decision on the multiple spot Ethereum ETF filings on its desk. In addition, reports suggest the SEC is looking to classify ETH as a security, a move which could potentially mitigate chances of the ETF approval.

With every other asset besides Bitcoin at risk of being labeled a security, Garlinghouse noted that in the United States, XRP has also attained legal clarity alongside Bitcoin. Essentially, this clarity boosts chances of XRP securing a spot ETF product over any other crypto asset.

However, some crypto commentators have argued that the SEC would not approve a spot XRP ETF as long as its legal case with Ripple lingers. Moreover, no asset manager has been bold enough to make a filing for the product, with sustained calls directed at BlackRock.

Shiba Inu Achieves New Milestone as Total Addresses Hit 4M   

Lele Jima
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0
Shiba Inu Achieves New Milestone as Total Addresses Hit 4M   

Shiba Inu continues to attract the interest of crypto investors, leading to a spike in its total addresses. 

Recent data from crypto analytics platform IntoTheBlock (ITB) shows a massive surge in Shiba Inu’s total addresses. According to resource, Shiba Inu’s total addresses have surpassed the 4 million mark, representing a significant milestone for the doggy-themed cryptocurrency. 

The current figure suggests that Shiba Inu has added over 200,000 addresses since March 1. As of March 1, Shiba Inu’s total addresses stood at 3.8 million. While Shiba Inu’s total addresses are currently above 4 million, the number of addresses holding a portion of SHIB is presently around 1,396,689 (1.39 million). 

Shiba Inu Active Addresses Declines  

Meanwhile, data from Glassnode, a leading on-chain analytics resource, shows that the number of active Shiba Inu addresses has declined rapidly since last month. 

Per Glassnode data, these active addresses increased to 49,500 on March 5, coinciding with the period when SHIB’s price soared to $0.00004500. 

With SHIB plummeting below $0.00004000, the number of active addresses also plunged and is currently pegged at 5,400. This indicates that despite total addresses hitting 4 million, network activity has remained low. 

However, this could change overnight as the crypto market gradually approaches the peak of the bull market, which is expected to occur after the highly anticipated Bitcoin Halving event. 

SHIB Market Activity  

In the meantime, Shiba Inu is changing hands at $0.00002768, accompanied by a 24-hour volume of $610.54 million. Shiba Inu has staged a 24-hour increase of 3.2% and a seven-day surge of 2.5%. 

Although SHIB has lost most of the gain it recorded on March 5, investors have remained optimistic about the token. This is reflected in the number of addresses holding substantial amounts of SHIB. In particular, 12,176 addresses hold at least 1B units of SHIB ($27,680). 

820K+ XRP Now Locked in XRPL AMMs as Trading Resumes Upon Recent Amendment Fix

Abdulkarim Abdulwahab
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0
820K+ XRP Now Locked in XRPL AMMs as Trading Resumes Upon Recent Amendment Fix

The XRP Army has moved en masse to lock their tokens on various automated market maker pools as trading resumes following a recent amendment fix.

In a recent post on X, community member Krippenreiter called attention to the uptick in XRP tokens locked on AMM pools. At the time of the update, about 604K XRP assets have been locked across 201 liquidity pools.

Over 820K XRP Locked in AMMs

Remarkably, in a space of three hours, the number has expanded by over 200,000 XRP. In particular, at the time of reporting, data from the XRP explorer XRPScan indicates that 820,657 XRP coins had been locked on 220 active AMM pools.

The largest liquidity pool involves the USDC/XRP pair, with 184,528 tokens locked with an LP token balance of 122,448,940 at press time. This is followed by the XRPS/XRP pair, with 122,499 tokens locked with an LP token balance of 2,216,844,170.

Before now, XRPL AMM pools had experienced diminished activity over the last two weeks, steadily declining from 534,000 after the AMM launch on March 22 to as low as 279,000 XRP on April 6. The recent growth in locked up tokens helps reduce the supply of tokens available in the market.

Recent AMM Amendment Fix

The decline occurred as several AMM pools halted trading due to a technical glitch discovered by developers just two days after the XRPL AMM launched. Upon investigation, the RippleX team observed that the glitch affected how the DEX payment engine directed liquidity through the AMM pools and order books.

More specifically, they identified discrepancies in certain AMM pools where transactions were not executing as intended. Accordingly, RippleX advised participants against depositing new funds into AMM pools, urging those holding LP tokens to consider redeeming them.

Meanwhile, the engineering team and community members initiated efforts to address the issue. The effort has yielded result as the issue has been fixed through the “fixAMMOverflowOffer” amendment. With the amendment now live, AMM pools have resumed activities, and the locked tokens are nearly 1 million XRP.

SEC vs. Uniswap: Legal Expert Identifies Similarities with Ripple Lawsuit

Sam Wisdom Raphael
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0
SEC vs. Uniswap: Legal Expert Identifies Similarities with Ripple Lawsuit

The XRP community has weighed in on the potential SEC vs. Uniswap lawsuit, with pro-crypto attorney Bill Morgan identifying a similarity with the ongoing Ripple lawsuit.

For context, Uniswap, the world’s largest decentralized exchange (DEX), revealed on Wednesday that it had received a Wells Notice from the U.S. SEC, with the regulatory agency disclosing plans to pursue enforcement actions against the exchange.

The development sparked a dramatic response from UNI, the platform’s native token, which slumped 9.5% over a 24-hour period. Responding to the notice, Uniswap CEO Hayden Adams expressed his disappointment in the agency’s move, stressing that he is “ready to fight.”

This adds to the line of leading cryptocurrency entities that the SEC has filed charges against, as the securities regulator continues to battle Ripple, Coinbase and Binance across multiple lawsuits. In addition, the notice to Uniswap comes up two months after the SEC adopted new rules regarding liquidity providers.

Amid the ongoing ruckus, Australian-based attorney Bill Morgan called attention to a similarity between the ongoing Ripple lawsuit and the potential legal case the SEC looks to file against Uniswap. 

His remark came as a response to statements made by Adam Cochran, founder of venture capital firms Cinneamhain Ventures, in which he pointed out that in all the six years Uniswap has operated, the SEC failed to provide any clear guidance to regulate its operations.

Similarities Between Ripple and Uniswap Cases

Cochran pondered why the agency decided to send the company a Wells Notice at this point. Reacting, Morgan stressed that the securities agency did the same thing with Ripple, in which it waited eight years after XRP began trading to bring charges against Ripple.

Notably, within these eight years of Ripple’s XRP sales, the SEC failed to provide any sufficient guidance to regulate the crypto industry. According to Ripple’s argument, uncertainty was also prevalent within the agency on what constitutes securities, evidenced by the circumstances surrounding Bill Hinman’s speech.

Morgan emphasized that the SEC’s mode of operation has been to wait for a firm to attain success, and then file charges against them to secure billions in remedies. The agency already demands nearly $2 billion from Ripple as penalties for its unregistered institutional XRP sales.

In a separate remark, Matt Corva, General Counsel at Consensys, argued that the SEC’s enforcements are aimed at creating chaos that mitigates chances of DeFi threatening the status quo. It bears mentioning that Corva previously claimed in 2020 that there was no attack on crypto after the SEC sued Ripple.

Nearly four years later, and the regulatory agency has added multiple high-profile crypto companies to its enforcement list. Morgan pointed out that Corva should have realized that the SEC is out to attack the crypto industry since 2020 when Ripple got sued.

Here’s How Much XRP You Need to be a Millionaire If XRP Hits $7.5, $12, and $20 

Abdulkarim Abdulwahab
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0
Here’s How Much XRP You Need to be a Millionaire If XRP Hits $7.5, $12, and $20 

This article outlines the amount of XRP an investor must hold to become a millionaire, with the asset potentially attaining lofty targets of $7.5, $12, and $20.

The cryptocurrency market is again experiencing a bull market, and eminent market watchers have identified XRP as one of the best tokens to hold. While XRP costs about six cents, these analysts have argued the likelihood of rallying up to 3,200% this season to reach $20.

Considering the weight of these forecasts, investors seeking to attain millionaire status by capitalizing on XRP may be interested in understanding the amount of XRP they must hold to reach this goal should the asset hit forecasted values.

XRP Needed to Make $1M If XRP Hits $7.5, $12, and $20

At press time, XRP sells for $0.6188. Should the asset attain $7.5, an investor must hold 133,334 XRP tokens to realize $1 million through XRP. Currently, this amount of tokens demands an initial investment of $82,507. Notably, the potential return on this investment is a substantial 11-fold increase.

Meanwhile, a lower initial capital commitment is required to become a millionaire if XRP attains higher targets like $12. Specifically, an investor must hold 83,334 XRP, costing $51,567 at present, to realize $1 million from XRP if the asset hits $12.

Notably, the $20 target requires the least initial investment but, in parallel, demands an extended holding term. In particular, one only needs to buy and hold 50,000 XRP tokens to become an XRP millionaire at $20. With XRP trading at $0.6188, this 50K XRP costs $30,940.

Remarkably, in this speculative scenario of XRP reaching $20, an investor stands to see their $31K investment expand by over 31 times.

Experts Projecting XRP to Hits $7.5, $12, and $20

While the prospect of attaining these gains can be eniticing, it remains to be seen if XRP can clinch the projected goals. In one of his latest analyses, top analyst EGRAG discussed the possibility of XRP reaching $7.5. EGRAG highlighted a significant support level amid the current downturn and noted key resistance levels that XRP must overcome to reach $7.5.

On the other hand, Rob Cunningham, founder of KWUL Research, theorized the outlook of a $12 XRP as Ripple entered a market hoped to be worth $2.8 trillion by 2028.

Meanwhile, Bitcoin investor Armando Pantoja recently made a compelling comparison, suggesting that setting a target of $5 for XRP this bullish season is akin to predicting BTC would peak at $1,000 in 2015. Pantoja went on to argue for the likelihood of XRP to surge to $20.

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