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Shiba Inu: BONE Surges 26%, Analyst Predicts Further Explosive Rally to $3

Abdulkarim Abdulwahab
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Shiba Inu: BONE Surges 26%, Analyst Predicts Further Explosive Rally to $3

Shiba Inu community analyst SHIB Knight has asserted that Bone ShibaSwap (BONE) is poised for further gains with $3 in sight following a recent 26% surge.

Over the past day, BONE has stood out as a top performer despite Bitcoin persistently pulling the broader market down in a bearish direction. In particular, BONE has surged from a low of $0.8714 to a high of $1.097. 

This growth translates to a 25.84% gain within the last 24 hours, with BONE’s volume soaring by 64% compared to the previous day’s figure.

Observing this admirable action from the Shiba Inu ecosystem token, analyst SHIB Knight took to X to comment on the performance. While acknowledging the bullish rally, SHIB Knight emphasized that BONE is set to “pump more.”

BONE Prepared for Breakout to $3

The latest post was an update to an earlier analysis of BONE’s outlook. The analyst noted he had anticipated BONE to overcome its prolonged consolidation phase with a bullish breakout, but the breakout failed to materialize.

He shared a chart of BONE’s performance, which suggests the asset is better positioned for this this anticipated breakout. “Breakout will happen sooner or later,” the Shiba Inu analyst declared.

At the time, BONE hovered around $0.9115. Interestingly, the asset grew about 20% in a few hours to reach the current daily high of $1.097. Meanwhile, the Shiba Inu analyst targets a 155.23% rally for BONE, specifically eyeing a $3 price point.

Factor to Propel BONE 

Notably, BONE is down 97.56% from its 2021 all-time high of $41.67. On the other hand, the Shiba Inu ecosystem’s leading token, SHIB, has recently broken some of its 2021 highs. 

Despite having a substantially lower supply count, BONE has not seen comparable price gains, potentially due to limited exposure among crypto market participants.

For instance, of the top ten most prominent centralized crypto trading platforms, only OKX and Gate.io have listed BONE. Others, such as Binance, Coinbase, KuCoin, and Bybit, have yet to support it.

Meanwhile, leaders of the Shiba Inu community have mobilized members to vote for BONE’s listing on Binance. Community members are confident that BONE’s inclusion on Binance would catalyze explosive rallies to unprecedented levels.

Binance Denies Insider Trading Allegations Involving Solana Meme coin BOME

Mark Brennan
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Binance Denies Insider Trading Allegations Involving Solana Meme coin BOME

Binance has refuted claims of insider trading involvement associated with Solana memecoin sensation BOOK OF MEME (BOME).

The emergence and listing of BOME over the past week came with notable controversy. On-chain analytics platform Lookonchain raised an alarm showing a Binance trader withdrew 12,721 SOL ($2.3 million). This trader then injected this fund to buy the equivalent of 314 million BOME at an average price of $0.0074.

Lookonchain flagged this transaction as it was initiated just before Binance listed the memecoin for trading. The community swiftly assumed that an insider might be linked to the trade.

The Binance Investigation and Discovery

With its reputation on the line, Binance said it launched an investigation into the alleged unwholesome practice. Per its findings, the exchange confirmed that the trader who withdrew the 12,721 SOL is not on its payroll.

“Upon receiving information about the large BOME transaction, we immediately initiated an internal investigation, and the results showed that the user is not a member of Binance staff,” Binance said in its brief on X.

Insider Trading is a serious offense that often draws prosecution from market regulators. The crypto industry has a major insider trading legal precedent involving former Coinbase Product Manager Ishan Wahi. Ishan connived with his brother to commit insider trading offenses and was charged in court.

In a bid to assure its community, Binance said its investigative team will continue to dig deep into the alleged misconduct.

While it has no established whistleblower policy, Binance said it is “offering a reward of 100,000 USD ~ 5 million USD to any users that report fact-listing-related or other fraudulent behaviour.”

Memecoin Season On Solana

The Solana ecosystem has taken center stage in the current market cycle, with multiple developers taking advantage of the hype surrounding it to launch new memecoins.

Besides BOME, Solana has seen an explosion of memecoins over the past few months with dogwifhat (WIF) and SLERF among the most popular.

Interestingly, the SLERF creator revealed today that he mistakenly burnt $10 million worth of Liquidity Provider (LP) tokens raised through Presale, a case that underscores how fragile and unsafe the meme market is.

XRPL Validator Successfully Deploys XRP on Upcoming AMM

Sam Wisdom Raphael
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XRPL Validator Successfully Deploys XRP on Upcoming AMM

Vet, a dUNL validator on the XRP Ledger (XRPL), recently demonstrated the successful deployment of XRP in an XRP/USD pool on the upcoming XRPL AMM.

In the demonstration, Vet leveraged Orchestra Finance, an AMM decentralized exchange (DEX) built atop the XRP Ledger to add 20 XRP (worth $12.23 at the time) and $12.25 worth of USDC to the XRP/USDC pool on the devnet version of the upcoming AMM.

A Live Demonstration of the AMM

Before deploying the tokens to the liquidity pool, the dUNL validator first connected his devnet Xaman wallet to the Orchestra Finance platform. For the uninitiated, the developer network (devnet) is a network environment tailored for software development and testing.

It allows developers to experiment and debug code in a controlled environment before deploying it to production. Devnets simulate real-world conditions to resemble production environments for more accurate testing. The XRPL AMM already exists on the devnet, allowing developers to test its performance.

The result of Vet’s demonstration suggests that the AMM feature is actually performing optimally as the broader XRPL community anticipates its arrival in the next four days. 

Notably, after depositing the 20 XRP ($12.2) and the $12.2 worth of USDC to the XRP/USDC liquidity pool, Vet received 15,692 liquidity pool (LP) tokens after the network confirmed the transactions. Data showed that the XRP/USDC pool boasts 4.67 billion LP tokens worth $8.26 million.

For context, this represents the total worth of the tokens in the pool which provide liquidity for market participants seeking to swap XRP for USDC or USDC for XRP. The swaps would attract a trading fee of 0.481%, with the accumulated fees distributed to the liquidity providers, including Vet.

XRPL AMM Slated to Hit Mainnet on March 22

Following the demonstration, the validator reiterated the risks involved with being a liquidity provider on the upcoming AMM. One of the major risks is the susceptibility to impermanent loss. This phenomenon occurs when the value of an asset drops while a liquidity provider holds it in the pool.

Vet stressed that the XRPL boasts low fees despite being efficient, urging market participants to test the upcoming AMM with a small amount of XRP to reduce their risks. The validator noted plans to test out other platforms besides Orchestra, prompting a call for him to try out Anodos Finance.

Meanwhile, the broader community would be able to explore these options on the XRPL when the AMM gets implemented on the mainnet on March 22. Recall that the amendment regained validator consensus on March 15 shortly after a previous bug affecting its delivery was fixed.

Bitcoin: Binance CEO and Standard Chartered Raise BTC Price Target to $80K and $150K

Mark Brennan
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Bitcoin: Binance CEO and Standard Chartered Raise BTC Price Target to $80K and $150K

Investors can expect Bitcoin to more than double its current price if Binance’s new CEO and Standard Chartered’s recent predictions come true.

The price of Bitcoin has increased by over 62% since the turn of the year, building on a positive uptrend that began in the fourth quarter of last year.

However, investors may expect additional gains as experienced market analysts forecast how high the top cryptocurrency can go by the end of the year.

Chiming in on the conversation is Binance’s newly appointed CEO, Richard Teng. In a recent Bloomberg feature, the Binance CEO predicted that Bitcoin would cross $80,000 before the end of the year.

Mr. Teng’s prediction is largely based on increased inflows into the newly approved spot Bitcoin ETFs in the United States. The funds have become the largest Bitcoin buyers, and Teng expects that to continue for the rest of the year, giving BTC the projected price valuation.

Standard Chartered Raises Bitcoin Prediction to $150,000

However, in one of the most bullish Bitcoin predictions for the year, analysts at UK banking giant Standard Chartered tipped Bitcoin to reach $100,000 in 2024. Nonetheless, these analysts have now raised their predictions off the back of Bitcoin’s recent run to new all-time highs.

In a recent investor note published Monday, the analysts described Bitcoin’s journey above $70,000 as “sharper-than-expected.” As a result, they have raised the prediction of Bitcoin’s yearly top to $150,000, citing increased open interest.

Significantly, the analysts mentioned that Bitcoin’s latest run is more sustainable because of the ETF inflows coming from “sticky pension-type flows.”

These inflows represent a different category of investment capital than those that invested in the 2021 cycle, which led to a market top coming much earlier, the analysts argued.

Meanwhile, although Richard Teng’s and Standard Chartered’s predictions catch the eye, they still trail some other popular forecasts. Famed investor Tim Draper forecasts Bitcoin to hit $250,000, while CoinFund expects Bitcoin to soar to $500,000 within the next twelve months.

Old and New Bitcoin Whale Accumulation Price Zones Uncovered

Mark Brennan
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Old and New Bitcoin Whale Accumulation Price Zones Uncovered

Bitcoin (BTC) accumulation by old and new whales shows distinct price points with Spot ETF fueling the latest large-scale buyup.

According to data from crypto analytics platform CryptoQuant, old Bitcoin whales acquired the coin mostly at an average price of $21,300 while new whales bought on average around the $56,400 mark.

This differing price mark shows that Bitcoin price in general has different resistance and support zones that market participants need to watch out for.

However, the current trend allay the fears of immediate selloff by whales, seeing the coin is trading above these two averages with its market value currently pegged at $68,205.

Identifying the Bitcoin Whales

According to the accompanying chart shared by CryptoQuant Founder Ki Young Ju, old whales mark investors who have held the coin for over 155 days while the new whales have only held onto the coin from 0 – 155 days.

Since November 2022, there has been a steady upshoot in the average buying points for these two classes of whales. 

The update on Bitcoin whale accumulation points posted by the CryptoQuant Founder sparked a lot of curiosity in the community. One X user John demanded to know if investors should “count on old whales or new whales?”

In response, Ki Young Ju clarified that new whales are TradFi investors just making their way into the market through spot Bitcoin ETF products.

Specifically, K Young Ju mentioned the customers of BlackRock and Fidelity Investments, two of the issuers with a consistently large daily volume and inflows. He hinted that the $56,400 mark at which these investors purchased BTC could serve as a formidable support level.

Bitcoin Support Zone

After breaching its All-Time High (ATH) above $73,000 in the past week, Bitcoin price fell back to as low as $65,000. This retracement has sparked speculation on how far the premier coin could slip.

In response to assertions that Bitcoin might fall harder, Ki Young Ju asserted that BTC would not drop below the spot ETF listing price of $46,376. Mike Novogratz, the CEO of Galaxy Digital is also optimistic the coin cannot drop below the $50,000 price level in line with the boost from spot Bitcoin ETF embrace.

Solana Memecoin Developer “Mistakenly” Burns $10,000,000 Raised for SLERF Presale

Mark Brennan
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Solana Memecoin Developer “Mistakenly” Burns $10,000,000 Raised for SLERF Presale

The anonymous developer behind the Slerf memecoin has claimed he accidentally burned $10 million worth of tokens raised for its presale.

The memecoin frenzy that has overtaken the cryptocurrency space has seen meme-inspired projects raise millions within hours as investors display unprecedented levels of speculative behavior.

The Slerf (SLERF) presale was one project that recently reached that milestone, albeit with investors now facing a perplexing situation.

Slerf had raised 50,000 SOL (valued at over $10 million) and $10 million worth of stablecoins for its token presale.

These funds, raised from Solana’s thriving memecoin community, were designated to provide liquidity for the token when it launched, with contributors due to receive allocations.

However, in a dizzying turn of events for investors, the Slerf developer announced on X that he had mistakenly burned over $10 million worth of the liquidity provider (LP) tokens and tokens meant for users who contributed to the presale. 

He claimed that the mistake was made when trying to clear “shitcoins” received in the developer wallet. While doing so, “[I] accidentally burned them with the pile of other coins,” the Slerf developer explained to the community.

According to the anonymous developer, they also revoked the ability to mint more tokens, meaning that presale investors will no longer receive earlier allocated airdrop tokens. At the same time, the developer does not have the money to refund those who contributed to the presale.

Slerf Token Launch Proceeds

Despite the massive fumble with investor funds, the Slerf token launch has gone ahead. The project evidently launched with the earlier issued supply before the mistaken burn. 

CoinGecko data shows that the project has a total supply of roughly 500 million tokens and reached a peak market cap of $622 million in the hours following its launch. The token is currently trading at $0.79, having reached a top of $1.24 earlier in the day.

Meanwhile, the community continues to debate whether the burn was a genuine mistake, a scam attempt or a marketing ploy to attract more investors to Slerf. Others view it as an indirect benefit to the trending Solana coin, with the cryptocurrency’s supply now permanently reduced as a result of the mistake.

Shibarium to Become Top 5 Blockchain: Here is Why

Mark Brennan
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Shibarium to Become Top 5 Blockchain: Here is Why

Shiba Inu (SHIB) marketing lead Lucie has predicted that ultimately, Shibarium will rank as a top 5 blockchain.

According to Lucie, no matter what happens, those who ignore Shibarium might regret the outcome later on. The content specialist said the project is bound to do well because of the passion of its community members and the readiness to help.

Shibarium went live in August last year as an Ethereum-based layer-2 scaling solution. Its core goal is to serve members of the Shiba Inu ecosystem with functional DApps boosted by scalability and lower cost compared to Ethereum.

Shibarium on the Right Growth Path

While the launch of Shibarium came with turmoil, the protocol showcased resilience as developers worked to enhance its throughput. Thus far, there has been considerable activity on Shibarium with daily transaction count rising as high as 7.8 million at its peak.

Though this large transaction count has faded off, data from the Shibarium scan pegs the current daily transactions at 593,680. While Shibarium’s total transaction count comes in at at 412,247,306 from the total block count of 3,735,393, the block time has remained relatively low at 5 seconds.

Per data from DeFiLlama, Shibarium’s Total Value Locked (TVL) comes in at $1.59 million, a figure that positions it as the 154th-largest blockchain network by TVL.

However, Shiba Inu partner NowNodes ranked the protocols among the top 5 most active on its platform. Overall, the community and developers are working hard to ensure Shibarium gains more traction in the long term.

Shibarium and its Dapp Ecosystem

To reaffirm the commitment of Shibarium innovators to bring value to the community, Lucie outlined the benefits of projects building on Shibarium to SHIB in general.

According to her, these projects help to drive more transactions with bigger volumes, more token burns, and extra rewards for registered validators. The increase in DApps also means more BONE rewards for validators. 

Lucie noted that these projects also offer increased exposure for SHIB with further attention on the other Shiba Inu-associated projects, including Doge Killer (LEASH) and Sheboshis (SHEB).

Having outlined the possibilities and opportunities, the marketing executives urged the community to work together to actualize the set goals.

Cardano Founder Addresses Fresh FUD Around World Mobile Deal

Mark Brennan
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Cardano Founder Addresses Fresh FUD Around World Mobile Deal

Charles Hoskinson has addressed growing FUD around the Cardano project, especially in connection with its World Mobile partnership.

Cardano founder Charles Hoskinson has a reputation for actively clearing the air on negative community discussions around the project. In the latest such development, Hoskinson took to popular social media platform X to address what he described as a “wave of FUD” thrown at the project.

At the heart of the controversy is Cardano’s partnership with World Mobile, an African telecom company. First announced in June 2021, the deal was supposed to connect residents of certain regions, such as Tanzania, to the internet using a novel blockchain-based solution.

With that project not having gained significant traction since its initial announcement, some crypto proponents have pointed to the deal as evidence that the project does not deliver on its promises and should not be considered by investors. 

However, Charles Hoskinson disagrees, claiming that such FUD has no basis and is typical of a crypto market cycle where investors “freak out about Cardano’s potential and roadmap.”

He also shed some light on the World Mobile deal and why the project may take longer to reach its full potential. Hoskinson further addressed the need for so-called partnerchains on Cardano to help the network scale to serve several use cases.

Cardano Founder Clears The Air on World Mobile Deal

According to Charles Hoskinson, the World Mobile project is set up to operate globally using a protocol that handles “complex hardware.” The Cardano founder claims that no blockchain in the crypto space can handle such a demand, which is why World Mobile is building the solution. 

World Mobile’s solution will apparently be a partnerchain, a topic that some in the Cardano community repeatedly misunderstand, according to Hoskinson. He clarified that such partnerchains were always a part of the Cardano’s roadmap as they give other projects a chance to build atop the time-tested Cardano network.

According to Hoskinson, such protocols may require “unique consensus models, ledger rules, design, and transaction semantics.” Cardano’s Midnight Protocol, which prioritizes privacy, has already demonstrated the need for such differing models.

In a nutshell, the Cardano founder reassured the community that it will continue to support World Mobile’s vision even though the solutions and frameworks involved “will take time to mature.”

The ever-supportive Cardano community largely well-received the founder’s clarifications. The community will also remain hopeful that the clarifications will help dismiss negative remarks that could negatively impact the price of Cardano as it sets sail on a recovery path. 

Since hitting $0.8 earlier this month, ADA has struggled, dropping to around $0.6755 at the time of writing. Overall, the coin has gained 8% in the past month, and remain poised for further gains if the bullish momentum around the crypto market continues.

Shiba Inu Hints at SHIB Soaring Higher This Bull Run

Abdulkarim Abdulwahab
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Shiba Inu Hints at SHIB Soaring Higher This Bull Run

The Shiba Inu team has issued a cryptic tweet hinting at SHIB soaring higher in this bull season amid the recent market pullback.

Shiba Inu has registered a 14% gain within the last 24 hours, and it is looking to recover the losses from its 20% drop in the past week. Amid this recovery, Shiba Inu’s official X handle posted a clip depicting Shiba Inu as a replacement for the lit bat sigil from the DC movie Batman.

Accompanying the post was a caption suggesting its aspiration to be a hero, not necessarily the one it deserves. “Not the hero we deserve, but the one we need,” the statement read.

Shiba Inu Army Agrees

The update from the Shiba Inu team was well-received in the community. “A sentiment echoed through time,” X user Amanda Willis remarked.

Moreover, the cryptic nature of the post gave rise to various speculation among members of the Shiba Inu community.

For example, a notable community figure, SHIBKIND, saw breadcrumbs in the clip. Specifically, he took clues from it that a newer version of Shiba Inu’s decentralized exchange, ShibaSwap, was around the corner.

Meanwhile, another community member, “LeonidasSHIB,” drew further hints from the update. Leonidas recalled previous statements from Shiba Inu’s leader, Shytoshi Kusama, about SHIB potentially ranking among the top five most valuable cryptocurrency projects.

“Don’t dismiss the true hint of something much larger, special, and exceptional,” the community member remarked.

Furthermore, Leonidas emphasized that Shiba Inu is not merely aiming for the top, noting that its ascent to such a position is its destiny. He stressed that those following the SHIB journey since its inception recognize the projection as an “inevitable reality.”

Besides, the community member pointed out that Shiba Inu’s path ahead is marked by aspirations for greatness and a genuine expectation of absolute dominance.

Shiba Inu Soaring Higher this Bull Run

In parallel, Leonidas pointed out that an incredibly exhilarating bull run is on the horizon, with Shiba Inu set to unveil an unprecedented level of “raw power.” 

This view is also grounded in Shiba Inu’s outstanding performances earlier this month, wherein the asset recorded a nearly four-fold increase to break price levels last seen in 2021. 

Accordingly, community members continue to project further remarkable performance for SHIB. For instance, a notable investor anticipates Shiba Inu outranking Dogecoin to attain a $100 billion market cap.

“With each passing day, we draw closer to a historical moment where SHIB will redefine the future globally,” Leonidas submitted.

XRP Reaction to Bullish News Sparks Debate

Mark Brennan
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XRP Reaction to Bullish News Sparks Debate

Two pundits recently discussed the correlation between XRP price actions and bullish news, which sheds light on the coin’s growth rate relative to its peers.

The debate was sparked by on-chain sleuth Mr Huber (@Leerzeit), who called the XRP community’s attention to the fall in the price of Stellar (XLM) following the implementation of the AMM feature.

Notably, the Stellar network witnessed the implementation of Protocol 18 in November 2021, which ushered in an AMM feature. However, XLM collapsed 83% over a year after the feature went live.

Mr. Huber noted that he expects the price of XRP to follow the same path as XLM when the AMM feature is fully operational.

Popular crypto analyst Dark Defender countered these claims. He argued that the price of XRP typically does react to major news.

Claims and Counterclaims on XRP Growth

According to Dark Defender, despite filing the SEC lawsuit in 2020, an event considered bad news, the price of XRP still moved from $0.17 to $1.99. When the good news about the victory came in July last year, XRP moved mildly from $0.50 to $0.91. 

Dark Defender also pointed out a trend in 2017 when no major news was recorded: the coin jumped from $0.002 to an All-Time High (ATH) of $3.84.

However, Mr Huber had a different take on these growth claims, as he noted that Dark Defender was comparing different time periods and types of news.

He believed the 2020 SEC lawsuit had an impact, as the price tanked by 80% in three weeks. He pointed out that following that dip, XRP never traded at the high of 2021, more than in 2018.

Commenting on the lawsuit victory, Mr. Huber noted that the news had an impact for a few days before the coin suffered a correction back to the price level before the news broke.

The on-chain Sleuth also highlighted how the rally of 2017 was triggered by the news of Ripple Labs’ implementation of escrow. To sum up his argument, Mr. Huber noted that XRP is best described as a hedge against deflation.

Timeframes Consideration

To solidify his position, Dark Defender said in follow-up posts that timeframes matter in price discourse. He highlighted that XRP cleared the deficit in 8 weeks despite the 80% slump in 2020 following the lawsuit. XRP went on to soar “1175% after the lawsuit dip while the lawsuit was ongoing.”

He countered the other claims raised as well, underscoring how XRP finds its balance in 8-week periods after a negative price event. Overall, he noted that the escrow claims cannot also be good news as they generally inflate the coin’s supply.

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