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Top Analyst Says VeChain Triple Bottom Could Take VET to $1.6, Citing the Cloning Pattern

Mark Brennan
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Top Analyst Says VeChain Triple Bottom Could Take VET to $1.6, Citing the Cloning Pattern

The price of VeChain (VET) may rise as high as $1.6 following the formation of a triple bottom pattern, according to top market analyst EGRAG CRYPTO, who leveraged the Cloning Pattern.

Historically, EGRAG CRYPTO comes off as one of the most bullish on VeChain. In his latest analysis, he highlighted how the cloning technique is signaling exciting moves for the coin.

EGRAG CRYPTO noted that he applied the Cloning Technique to a previous mega rally in the price of VeChain, marked on the accompanying chart shared with the blue arrows. 

How High Can VET Soar?

While not definitive, EGRAG CRYPTO said VeChain might set sail for the $1.6 price point. The chart he shared shows a triple bottom pattern formed by VET from December 2018 to 2020. VET triumphed over these drawdowns and rallied toward the price level around $0.0232 in August 2020.

Following the jump to $0.0232, VeChain suffered a pullback that saw its price collapse to a low of $0.008926 in November 2020. However, VET eventually recovered from this retracement, surging to its All-Time High (ATH) price of $0.2782 in April 2021.

The elongated crypto winter that accompanied the 2021 bull phase dropped VET’s price and kept it in a consolidation mode, hinting at a similar rally. The pre-ATH phase is also signaling another triple bottom pattern.

In EGRAG CRYPTO’s projections, the coin is on track to make a move toward $0.115, followed by a dip to $0.035. If this projected movement plays out, the coin might skyrocket to $1.6 in the long term once it recovers from the drop to $0.035.

Backing Fundamentals

One fundamental feature that could back VET’s uptrend is the launch of two new tokens B3TR and VOT3 and a sustainability platform dubbed VeBetterDAO. Designed as a high performance blockchain with deep tilt toward enterprise adoption, VeChain is shifting the boundary of innovation with new products, patents and services.

While EGRAG CRYPTO is not the only analyst bullish on VeChain, his forecast has remained consistent over the past few months. At the time of writing, VeChain’s price and market cap are down 2.92% to $0.04022 and $2,923,159,894 respectively.

Here’s the Amount of VeChain Needed to Make $1M If VET Hits $5 or $10

Lele Jima
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Here’s the Amount of VeChain Needed to Make $1M If VET Hits $5 or $10

We’ve provided a more precise breakdown of how an investor could make $1 million from his VeChain investment when the price of VET hits $5 or $10. 

Many crypto investors hope to become millionaires in U.S. dollars by investing in their favorite coins. Interestingly, several experts consider VeChain (VET) an altcoin that could make this goal a reality. 

This article will highlight the number of VeChain coins you need to become a millionaire when VET hits $5 and $10, respectively. 

Analysts See VeChain Hitting $2, $5, and $10    

Although several altcoins have outperformed VET in the ongoing bull run, some analysts still believe the coin has the potential to present substantial gains for investors. 

Consequently, they have provided jaw-dropping predictions for VET, with some projecting that VeChain’s price will reach a range between $2 and $10 someday. 

In particular, notable crypto expert EGRAG predicted that VET could surge 146x to $2.41. However, the market watcher did not specify when he expects VET to achieve this target. 

Interestingly, analysts at top crypto trading platform Changelly provided a more difficult prediction for VeChain. According to Changelly, VeChain would reach the $5 threshold by February 2040. Specifically, the analysts at Changelly forecasted that VET would hit a minimum price of $5.15 in nearly 16 years from today. 

According to the analysts, VET’s price would continue to skyrocket after reaching the $5.15 level and could eventually hit $10 by May 2040. Changelly noted that VeChain would have a minimum price of $10.66 by May 2040. 

Changelly’s prediction looks like an uphill battle for VET as the coin is currently changes hands at $0.040. As a result, VET would need to rally 12,500% from its current price to hit $5 and 25,000% to reach the price of 10. 

Amount of VET Needed to Make $1M When Token Hits $5 or $10

Notably, for an investor to sit on a $1 million when VET price hits $5, they would need to purchase and hold 200,000 VET tokens until the $5 price prediction plays out. Purchasing the 200,000 VET at the current price of $0.040 would require an investment of $8,000. 

Conversely, an investor would need to invest a smaller capital today to become a millionaire if VET eventually hits $10. Here, the investor must hold 100,000 VET tokens to achieve this feat. 

To purchase 100,000 at the current price, he would need to commit a capital of $4,000 into VeChain today. Per Changelly’s prediction, investors looking to become millionaires with 100,000 VET must wait until May 2040, when the price of a token might change hands at $10. 

While this analysis might look enticing, it is imperative to note that the price projections are not certain. There is no guarantee that VET might ever reach the $5 or $10 price levels throughout its lifetime. 

Hence, caution is needed when investing in crypto assets, including VET. Investors are advised to only commit an amount they can afford to lose, and always seek the advice of a financial expert to determine good investment decisions.

Shiba Inu Metaverse Advisor Debunks Scam Allegations

Sam Wisdom Raphael
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Shiba Inu Metaverse Advisor Debunks Scam Allegations

The Shiba Inu Metaverse Advisor, Marcie Jastrow, recently debunked growing allegations of affiliation with a scam company.

The Shiba Inu Metaverse project has not made headlines for some time as progress continues behind the scenes. However, the project’s advisor, Marcie Jastrow, recently took the spotlight amid allegations of her involvement in a scam business.

Notably, Trophias, a former member of the SHIB Defense Breed who had a clash with lead developer Shytoshi Kusama last January, accused Jastrow of being a “professional scammer.” According to Trophias, this was due to her exit from a new company with which she had previously been affiliated.

For context, the Shiba Inu Metaverse advisor recently dissociated herself from the firm by removing all traces of her association with the company on her LinkedIn account. Trophias claims this move was as a result of the firm being fraudulent.

SHIB Metaverse Advisor Dismisses Scam Claims

Jastrow quickly responded to the allegations, promptly dismissing them as unfounded. She confirmed that her dissociation was due to disputes the company had relating to the ownership and use of intellectual property (IP) rights.

She stressed that the whole issue created a distraction for her, prompting her to eventually get rid of the company entirely. Despite Jastrow emphasizing that the reason behind her dissociation is not Trophias’ business, the clarification was essential to bring publicity to the actual events.

“I can assure you that i do not scam,” she remarked amid the allegations. Notably, the recent case came on the back of a call for help from Marcie Jastrow. Quoting a post from one of the Welly Friends officials, Jastrow implored the community to assist the Welly Friends project with funds.

She stressed that Welly Friends is one of the few projects driving real-world use cases of blockchain adoption in the agricultural scene. However, Jastrow’s call for assistance did not sit well with some critics, some of whom pushed that she should focus on the SHIB Metaverse project.

Investors Remain Bullish on Shiba Inu Metaverse 

Building on these comments, other critics sought updates on the Shiba Inu Metaverse project. Notably, the Metaverse team has not provided details on their ongoing work this year. The latest pivotal development came up last March when the team premiered the WAGMI Temple at the SXSW festival.

Despite the lack of updates, investors remain bullish on the project. In June 2023, Marcie Jastrow reacted to the purchase of about 73 Metaverse lands for a whopping $27,503 by the Shibpreme team. These investors have expressed confidence in the eventual success of the project.

Top Pundit Predicts Cardano to Hit $7.5, Here’s Why

Mark Brennan
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Top Pundit Predicts Cardano to Hit $7.5, Here’s Why

According to popular crypto influencer Jake Gagain, Cardano could go as high as $7.5 by the end of the current market cycle.

The price of Cardano (ADA) has recovered tremendously from its 2023 lows of $0.234. At the time of writing, the coin has gained nearly 200% from those lows, trading around $0.62 with a market cap of $22 billion.

Nonetheless, Cardano is still 70% below its all-time high value of $3.10, set in September 2021. Amid the uncertainty, the prospect of the cryptocurrency ever bouncing back to its previous highs or even seeing a new all-time high remains contested.

Popular influencer Jake Gagain recently weighed in on the subject with a bullish prediction that suggests that Cardano will more than double its previous all-time high. Gagain forecasts that Cardano may only go as high as $1 before Bitcoin’s halving, which is on track for April.

However, he predicts the cryptocurrency will skyrocket after that landmark event, of America hitting a new all-time high. “We could see a $7.50 cents Cardano token during the peak of the [upcoming] bull run” in 2025, Gagain told his over 240,000 X followers.

Reasons Behind Bullish Prediction

Jake Gagain shed further light on the reasons behind his bullish forecast. Beyond Cardano being his favorite blockchain due to his love for its founder, Charles Hoskinson, the influencer acknowledged that the project has built a strong community.

He also added that Cardano is building a strong ecosystem. Unlike the previous bull run when Cardano’s decentralized finance (DeFi) ecosystem was relatively in its infancy, the network now has hundreds of millions in capital locked.

Jake Gagain predicts that even more capital will flow into Cardano as the bull market catches on, further inflating the cryptocurrency’s price. For context, the influencer’s $7.5 forecast will represent a more than 1,100% increase from the coin’s current value of $0.62.

Notably, Jake Gagain is not the only market analyst or influencer who is bullish about Cardano’s future. Prominent analyst Ali Martinez predicts a possible rise to $5, with yet another analyst forecasting prices as high as $12.80 within the current market cycle.

New RWA Tokenization Platform Adds Shiba Inu Payments

Abdulkarim Abdulwahab
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New RWA Tokenization Platform Adds Shiba Inu Payments

Planet ReFi, an emerging platform for tokenizing real-world assets (RWA), has declared support for Shiba Inu payments.

The Planet ReFi team disclosed this move in a recent post via its X account, announcing support for three tokens, including Shiba Inu. In particular, the team has added SHIB, Fantom (FTM), and Zignaly (ZIG) to its real-world asset “Plug and Play” utility program.

Benefits for Shiba Inu Army

Following the support for SHIB, individuals within the Shiba Inu community can purchase limited edition RWAs on Planet ReFi using their SHIB tokens at a 10% discount.

Additionally, the platform is extending an automatic smart-contract-based mechanism in favor of SHIB and the two other supported tokens. In particular, Planet ReFi promised a 5% token burn with every RWA acquisition.

Planet ReFi’s move to support Shiba Inu has sparked significant attention from the crypto community, with many seeing it as a welcoming initiative.

“FTM, ZIG, and SHIB’s RWA program inclusion signifies a pivotal advancement for token utility,” crypto enthusiast Shelly remarked.

Similarly, notable community figure Patrick Schmitt admired the decision and felt confident about his move to invest in FTM and PLANET tokens. He also views the support for SHIB as valuable, especially considering the massive community behind the project. 

Zignaly, the team behind the ZIG token supported by Planet ReFi, has also recognized the endorsement, stating:

“ZIG, alongside industry giants FTM, SHIB, and PLANET, is paving the way to onboard the next billion users to crypto. Welcome to the era of AI x RWA confluence.”

Notably, Planet Refi joined the growing roster of tech forms endorsing Shiba Inu payments. The Crypto Basic has uncovered that Shiba Inu is tenable for payment at over 1,200 merchants in 25 countries.

Last week, the prominent blockchain development platform Unification proclaimed support for SHIB payment.

Planet ReFi

Significantly, Planet ReFi is on a mission to disrupt the projected $16 trillion RWA market. It presents itself as a cutting-edge platform for RWA tokenization, aiming to introduce yields into Web3.

In parallel, Planet ReFi seeks to tackle urgent social and sustainability issues by harnessing blockchain technology. To promote its initiatives, the team collaborates with renowned celebrities, such as legendary football star Lionel Messi.

Shiba Inu: BONE Rises 6% Amid Margin Trading Listing on Gate-io

Mark Brennan
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Shiba Inu: BONE Rises 6% Amid Margin Trading Listing on Gate-io

Bone ShibaSwap (BONE), the gas token of the Shiba Inu layer-2 network Shibarium, has recorded a 6% jump following the listing of its margin trading on the Gate.io exchange.

The listing, announced by the official X account of the Shiba Inu ecosystem, went live on March 21 with the protocol advocating responsible trading.

Margin trading involves borrowing money from an exchange to buy the asset of choice. Repayments are made at a later date but with higher interests.

Margin trading is a high-risk venture, as the volatility in the crypto industry makes traders susceptible to losses. The BONE margin trading offering on Gate is no exception.

The BONE Margin Trade Terms

Adding BONE as a borrowable asset on Gate.io comes with similar terms as the other assets already hosted on the platform. Gate.io confirmed that the listing comes with a borrowing rate that is updated every hour. 

At the time of writing, the exchange highlighted that the trading or borrowing rate comes in at an hourly 0.000100% and an annual 0.88%. At the moment, there is about 83,323 BONE available to borrow, a sum worth 76,380 USDT.

Accessibility to the product will require Know Your Customer (KYC) verification and the borrowing rate grows as the trader gains an uplift in their VIP Status. At VIP Level 16, the daily and annual rates could be as high as 0.000105% and 0.93% with individual loan caps pegged at 20,000 BONE.

BONE Listing Diversity

Over the past year, Shiba Inu community members and even developers like Shytoshi Kusama have advocated for BONE listing on major platforms like Binance.

From speculations on Huobi listing to OKX accumulation of the token, BONE has proven relevant in both the Shibarium ecosystem and the market in general.

The news of the listing has helped trigger an uptick in the price of BONE which now sits at $0.9185, up mildly by 0.85% in 24 hours and by 6% over the past week.

Analyst Expects Shiba Inu to Rise $0.000037: Here is Why

Mark Brennan
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Analyst Expects Shiba Inu to Rise $0.000037: Here is Why

Shiba Inu’s historical attachment to Dogecoin could see SHIB rise by 20% in the coming days, according to a prominent analyst.

The price of Dogecoin has increased considerably within the past 48 hours, moving from around $0.12 to $0.16 at the time of writing. This more than 20% increase has seen Dogecoin further widen the gap with Shiba Inu in terms of market cap rankings.

Nonetheless, Dogecoin’s rise could spur a run in Shiba Inu’s price over the coming days, according to experienced market analyst Crypto Money King.

According to the analyst, Shiba Inu always follows Dogecoin’s footsteps. Hence, he expects Shiba Inu to match Dogecoin’s recent rise with a 20% run of its own. Such a run will push Shiba Inu’s price to $0.000037 in the coming days.

Shiba Inu is currently trading at $0.000027 and will have to garner momentum quickly for the prediction to come through. At the same time, the analyst warns that the setup will be invalidated if the price of Shiba Inu breaks below $0.000026. To its credit, Shiba Inu continues to trade above that price level in the past 24 hours, increasing the chances of the predicted surge. 

For memecoin enthusiasts, it will be interesting to see how the battle for supremacy continues to play out. The Shiba Inu team believes it has what it takes and has planned “secret wags” to help it overtake DOGE. In the meantime, Dogecoin has the upper hand, and the Shiba Inu army must put in greater effort to come back into contention.

Shiba Inu Aims to Recover Ground on Dogecoin

If the latest prediction materializes, it will evidently aid Shiba Inu’s efforts to recover lost grounds. Recall that earlier this month, both coins were locked in a 9th and 10th fight as Shiba Inu nearly surpassed Dogecoin.

Nonetheless, Dogecoin has held off the challenge and has now opened a wide gap, establishing its position as the leading meme-inspired cryptocurrency. Ranked 8th now, Dogecoin has a $23.1 billion market cap, which is notably higher than Shiba Inu’s $16.3 billion. Shiba Inu is also now ranked 11th among the largest assets by market cap, losing its position to Avalanche.

XRP To Hit 100% Surge Against Bitcoin Post Halving: Analyst

Mark Brennan
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XRP To Hit 100% Surge Against Bitcoin Post Halving: Analyst

Current projections from market analysts suggest sustained growth in the price of XRP against Bitcoin (BTC), with one hinting at a potential 100% surge post-halving.

Market analysts now pay closer attention to the price of XRP. This optimism comes despite the headwinds lurking via the yet-to-be-concluded Ripple lawsuit against the United States Securities and Exchange Commission (SEC). 

Renowned market analyst CrediBULL Crypto shared his technical take on the XRP/BTC pair, identifying the duo’s “accumulation phase” inside a larger demand area. This setup is indicative of a move upward, mimicking a related bullish trend historically spotted by the analyst.

XRP and Possible Price Target

For CrediBULL, XRP has what it takes to return 100% gains to investors after the halving event. In the short term, the analyst’s estimate is a 15-20% growth. He noted that if XRP surpasses the next major resistance of 35% higher, a jump to 100% against BTC is possible.

To hint at his conviction, CrediBULL Crypto noted he had topped his position for the fourth time. With the “RSI Divergence” indicator backing his accumulation decision, the analyst is optimistic that a market trend reversal will be just around the corner.

To put an actual price target on XRP, market analyst Dark Defender sees a short-term target of $1.33. Should the stellar performance continue, he believes XRP can hit the $1.88 and $5.85 mid to long-term, a projection that aligns with Jake Gagain forecasts.

At the time of writing, XRP price and market cap have recorded a 4.66% jump in 24 hours to $0.6366 and $34,941,520,495. The trading volume has also increased 13.83% in the same timespan to $2,792,777,983.

Other XRP Predictions

A well-known investor in Bitcoin, Davinci Jeremie suggested that XRP is poised for a significant upward movement. The investor cites the possibility of manipulative pumps that could push XRP up to $1.33.

According to crypto analyst Steve Courtney, the XRP Stoch RSI indicates promising momentum. He sees a similar bullish pattern to the one that occurred between 2013 and 2017. The market analyst wonders if the market could experience a similar 58,431% rally this time. If XRP were to witness such a massive upsurge, its current price of $0.6030 would skyrocket to $352.94.

Top CEO Says Ethereum Lost Right to Complain About Security ‘When They Threw XRP Under Bus’

Lele Jima
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Top CEO Says Ethereum Lost Right to Complain About Security ‘When They Threw XRP Under Bus’

In the wake of multiple reports indicating that the SEC plans to classify Ethereum as a security, Reaper Financial CEO Patrick Riley has taken a subtle shade at the ETH community. 

According to an X post today, Riley cleverly twisted Ethereum co-founder Vitalik Buterin’s 2022 tweet to take a swipe at the Ethereum community amid the SEC’s quest to categorize ETH as a security. 

In the post, Riley noted that the Ethereum community already forfeited its moral standing to air its grievances about the SEC’s latest crackdown when it sacrificed XRP to monopolize control over the crypto industry through the help of the Democrat Party and corrupt SEC officials.  

 

Ethereum’s Buterin Made Similar Remarks Against XRP 

Riley’s remarks are similar to those made by Buterin in 2022 when he hinted that the Ethereum Foundation holds a grudge against Ripple. 

At the time, Buterin suggested that the Ethereum community was not obligated to speak up in support of XRP against the SEC after Ripple named it “China-controlled” in the lawsuit. 

Although XRP community members had already slammed Buterin for taking a swipe at the asset, Riley brought up the tweet again as the SEC moved to place ETH under its jurisdiction. 

Unending Hostilities Between XRP and ETH 

It bears mentioning that the Ethereum and XRP communities have been at loggerheads for years. Both assets were involved in stiff competition in 2017 regarding which crypto asset will rank behind Bitcoin as the second-largest by market capitalization. 

Notably, Ethereum received a major boost in the form of partial clarity in June 2018. At the time, former director of SEC’s Corporation Finance division Bill Hinman declared the asset as a non-security. Hinman’s declaration about ETH gave the asset an edge over XRP. 

In 2020, the SEC further cemented ETH’s position as the second-largest cryptocurrency after it charged Ripple with raising $1.3 billion in unregistered securities sales of XRP.  

Since the lawsuit was introduced, XRP community members speculated that the legal tussle was engineered by its major rival, Ethereum, with the help of “corrupt SEC officials.”  

Before joining the SEC, Hinman was a partner at Simpson Thacher & Bartlett LLP, a member of Enterprise Ethereum Alliance (EEA)- an organization responsible for marketing Ethereum as an enterprise solution. 

Interestingly, Hinman still met with Simpson Thacher staff while working at the SEC. He also received millions of dollars in profit sharing from the company. 

With the SEC pushing a legal campaign to label ETH as a security, some XRP community members believe the move is a step in the right direction. 

However, Ripple CEO Brad Garlinghouse thinks otherwise. The prominent crypto stakeholder speculated that the SEC would lose the war to categorize ETH as a security, as it did against XRP. 

Bitrue Introduces New $50,000 Trading Contest for XRP

Abdulkarim Abdulwahab
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Bitrue Introduces New $50,000 Trading Contest for XRP

Leading pro-XRP exchange Bitrue has launched another trading competition centered around XRP, with $50,000 up for grabs for participants.

Bitrue disclosed details about the new trading competition via its official X account and website. Per the announcement, it is an exclusive spot trading contest for freshly listed XRP pairs on the exchange.

Bitrue XRP Trading Contest

Notably, Bitrue recently listed XRP trading pairs for prominent meme coins such as Shiba Inu, PEPE, BONK, and Ordinal (ORDI). Other utility coins recently listed against XRP on Bitrue include Optimism (OP), Xahau (XAH), Worldcoin (WLD), and Uniswap (UNI).

Accordingly, the exchange launched the spot trading competition exclusively for these pairs: SHIBXRP, PEPEXRP, BONKXRP, ORDIXRP, XAHXRP, OPXRP, WLDXRP, and UNIXRP. Users can trade any of them to share in a prize pool containing $50,000. 

Notably, the Bitrue exchange launched its XRP trading contest on March 21, set to run for a week. Currently, there are six days and two hours left until the competition concludes.

Prizes are structured based on the number of participants. With one to 500 entrants, the prize pool is $1,000, increasing to $3,000 for 501 to 1,001 participants.

As of now, 2,527 traders are participating in the XRP trading contest, which has a total prize pool of $16,000. If the number of participants exceeds 5,000, Bitrue plans to boost the prize pool to $50,000.

While Participating 

It is worth mentioning that prizes are distributed based on ranking in trading volume. Those in the first-place winner position receive 20% of the prize pool, followed by 15% for second place and 10% for third place. Meanwhile, 10% of the reward will be shared among ranks 4 to 30. 

Moreover, those in ranks 31 to 100 share 15%, while the remaining participants below rank 100 split the remaining 20%.

Notably, Bitrue has outlined specific eligibility criteria for the event. Only those who have successfully registered are eligible to take part. Secondly, market makers are excluded from participation and ineligible to receive rewards.

Furthermore, Bitrue will deposit the rewards in USDT into users’ futures trading wallets within two weeks of the contest’s conclusion.

Notably, competition of this nature has not surfaced for the first time in the Bitrue exchange. Last month, the exchange launched a similar XRP trading contest with a $1 million prize pool.

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