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Reliance Group Buys $17M Worth of XRP for Treasury, Expert Says Move Could Go Beyond Investment

Lele Jima
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0
Reliance Group Buys $17M Worth of XRP for Treasury, Expert Says Move Could Go Beyond Investment

Publicly-listed InsurTech company Reliance Global Group has announced its acquisition of XRP, marking a strategic move to expand its Digital Asset Treasury.

According to a recent release, Reliance’s acquisition of XRP is part of its efforts to build a diversified portfolio of cryptocurrencies, following its earlier accumulation of Bitcoin, Ethereum, and Cardano.

Notably, Reliance suggested that its crypto holdings align with its long-term strategy of striking a balance between innovation, stability, and value.

Why XRP?

Explaining the rationale behind its decision to add XRP, Reliance highlighted the token’s role as a bridge asset for cross-border payments. It also highlighted XRP’s technical strengths, including low transaction costs, fast settlement times, and high scalability, as key factors that prompted the acquisition.

This prowess aligns with the company’s commitment to invest in cryptocurrencies with strong fundamentals and real-world utility.

Although the announcement was made on September 30, it only gained widespread attention within the XRP community today after attorney Bill Morgan brought it to public notice. According to Morgan, Reliance’s investment in XRP was worth approximately $17 million. However, the official release did not mention the specific amount.

Reliance Group Adds XRP to Treasury
Reliance Group Adds XRP to Treasury

Bigger Vision for XRP

The announcement didn’t specify how Reliance will use its XRP, but Morgan suggested that the purchase might be more than just an investment. It could be related to the company’s primary work in insurance.

Moreover, Morgan suggested the acquisition may be connected to Reliance’s plan for tokenized insurance policies or blockchain-based payments integrations. He emphasized that other pharmaceutical and travel firms have explored similar integrations in the past. In his view, these companies first acquired XRP before announcing XRPL-based payment integrations.

For context, Nasdaq-listed VivoPower raised $121 million in April to establish an XRP treasury. A few months later, the company announced support for RLUSD payments, a stablecoin partially minted on the XRPL, enabling customers to purchase its electric vehicles using the stablecoin.

Wellgistics Health also established a $50 million XRP treasury, while leveraging the XRPL for instant, low-cost payments.

Meanwhile, other companies, including Chinese automobile company Webus, have also adopted XRP as a treasury asset and integrated XRPL-related payment system.

UK Officially Lifts Ban on Bitcoin ETNs, Potentially Opening Over $930B to Crypto

Elendu Benedict
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UK Officially Lifts Ban on Bitcoin ETNs, Potentially Opening Over $930B to Crypto

The UK FCA lifted its years-long retail ban on crypto ETNs today, paving the way for further mainstream adoption of Bitcoin and other digital assets.

The ban reversal officially took effect today, the UK Financial Conduct Authority (FCA) earlier disclosed. This means that investors in the United Kingdom can now access the crypto exchange-traded notes (ETNs) market alongside institutional investors.

UK Lifts Ban on Crypto ETNs

For the uninitiated, ETNs are debt instruments that give holders exposure to an underlying asset. Its difference from ETFs is that it does not hold the physical asset but is issued as an unsecured debt, similar to a bond, tracking the performance of an asset.

The UK’s top regulator banned ETNs in January 2021, restricting exchanges and financial institutions from marketing or distributing the products to investors. The reason behind this action was to protect them from the uncertainty of the cryptocurrency market.

Meanwhile, with global regulatory policies around digital assets easing off, the UK’s FCA has followed suit. After allowing the London Stock Exchange to list the Bitcoin ETNs for institutional investors in March 2024, it announced in August that retailers would have access to the investment vehicle from October 8.

But There’s a Twist

Despite officially lifting the ban today, retail investors would still not be able to buy the products immediately. An earlier FT report highlighted that they would have to wait until October 13 to finally access crypto ETNs.

The delay occurred as the FCA resumed accepting prospectuses for issuers seeking to offer these crypto products on September 25, which is two weeks before the launch date. This decision has sparked widespread criticism of the UK watchdog for its cautious approach to crypto.

Nonetheless, lifting the ban has been an improvement from the earlier hardline stance on crypto. The move would now allow retail investors to buy Bitcoin and other cryptocurrencies in a regulated exchange, like their counterparts do in the United States.

Ban Lift to Open Crypto to Over $930B in Savings

Moreover, the development could enable crypto investments to access $930 billion in individual savings accounts (ISAs) and self-invested personal pension (SIPP) accounts. These accounts held over $930 billion in assets as of 2023, the UK government disclosed.

Remarkably, holders of these accounts do not pay taxes on investments made through them but have limited product options to invest in on regulated exchanges. Authorities are already making efforts to offer Bitcoin and Ethereum ETNs to these eligible ISA and SIPP accounts but await regulatory approval.

If approved, nearly $1 billion could enter the UK crypto market from these tax-efficient savings accounts alone.

MetaMask Officially Launches Perpetual Trading on Mobile

Sam Wisdom Raphael
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MetaMask Officially Launches Perpetual Trading on Mobile

MetaMask has officially launched perpetual trading on its mobile app, as it progresses on the quest to become a full-featured trading platform. 

Notably, the recent release follows weeks of anticipation after activity on MetaMask’s public GitHub indicated that the feature was nearing completion.

MetaMask Launches Perpetual Trading 

According to a press release today, the new feature, MetaMask Perps, lets users trade perpetual futures directly from their mobile devices. Specifically, it runs on Hyperliquid, a decentralized exchange known for its reliable derivatives market. 

With this addition, MetaMask users can now go long or short on more than 150 tokens, including Bitcoin (BTC), Ethereum (ETH), Linea (LINEA), and BONK, with leverage of up to 40x.

MetaMask rebuilt its mobile interface for faster performance and a smoother trading experience. As a result, users can now open or close positions in seconds, without depending on centralized exchanges or third-party dapps. They further confirmed an upcoming Polymarket integration.

Four Attractive Features

The company noted that it designed the new feature around four main advantages. First, it focuses on speed, allowing trades to execute almost instantly so users can react quickly to price changes. Some traders highlighted the need for this a few weeks back when hints of a launch emerged.

Second, MetaMask stressed that the feature ensures complete control. Specifically, traders keep full custody of their funds and can set limit orders, stop losses, and take-profit levels directly in the app. 

Meanwhile, it offers simple funding, as users can deposit any EVM-compatible token, which automatically converts to USDC for trading, with no bridges or extra fees involved. Finally, they will provide real-time insights, including live price charts, performance tracking, and push notifications for major market updates.

To start trading, users would only need to update their MetaMask mobile app to version 7.56 or higher on Android or iOS. After the update, they can access the new “Perps” tab from the home screen, deposit funds, choose a token, and begin trading directly on mobile.

The feature’s launch follows several months of development and testing. According to a previous report from The Crypto Basic, work began in July 2025, as shown in the project’s GitHub repositories, and picked up pace through late summer. 

Early testers reported issues with deposits, delayed token loading, and minor calculation errors, which MetaMask developers fixed during August and September. These updates set the stage for this official release.

MetaMask’s Push for Growth

Notably, this launch is part of a larger wave of new products and features from MetaMask in recent months. On Oct. 4, the company announced a major on-chain rewards program that will distribute over $30 million worth of Linea tokens to its global user community during its first reward season.

MetaMask also expanded its ecosystem earlier this year with several notable releases. On July 22, it introduced the MetaMask Card, a Mastercard-powered debit card that lets users spend crypto at retail outlets and earn 1% cashback in USDC. 

In August, MetaMask launched mUSD, its own stablecoin backed by M0 and Stripe’s Bridge. A few weeks later, on Sept. 18, Consensys CEO Joseph Lubin confirmed that the long-awaited $MASK token would launch sooner than expected, with a possible airdrop for active users.

DDC Enterprise Raises $124M to Expand Bitcoin Holdings

Zabi
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DDC Enterprise Raises $124M to Expand Bitcoin Holdings

DDC Enterprise Limited, a U.S.-listed company, has raised $124 million through a new stock sale to boost its Bitcoin investment strategy.

Each Class A share was priced at $10 — 16% higher than the company’s closing price on October 7, 2025. This price also matches DDC’s 15-day average trading price, showing strong investor support for its Bitcoin-focused shift.

Key Backers and Founder Participation

Two leading alternative asset managers, the Pegasus Fund (managed by PAG) and Mulana Investment Management, spearheaded the funding round. Additional participation came from OKG Financial Services Limited, which operates under its parent company, OKG Technology Holdings Limited.

Adding a personal commitment to the initiative, DDC’s founder and chief executive, Norma Chu, invested $3 million of her own capital in the round.

Under the terms of the deal, all investors, including Chu, will be subject to a 180-day lock-up period from the closing date. This restriction, in turn, ensures medium-term stability and signals investor alignment with DDC’s long-term objectives.

Expanding the Bitcoin Treasury Strategy

DDC has stated that the newly raised funds will directly support its Bitcoin treasury initiative. The company believes that holding Bitcoin as a strategic asset will enhance its financial resilience and position it at the forefront of corporate cryptocurrency adoption.

At present, DDC holds 1,058 Bitcoin in its treasury. However, the firm has set an ambitious target to accumulate 10,000 Bitcoin by the end of 2025.

According to company executives, this move reflects a growing institutional belief that Bitcoin can serve as a “digital reserve,” comparable to traditional stores of value such as gold.

Despite its growing engagement with digital assets, DDC continues to describe itself as a global Asian food platform, maintaining its traditional business operations while integrating digital assets into its capital strategy.

Advisory and Market Context

Meanwhile, Maxim Group LLC served as the exclusive financial advisor for the financing round.

Notably, the move aligns with broader market enthusiasm as Bitcoin trades near record levels. The cryptocurrency hit a new all-time high of $126,180 on October 6, 2025.

At the time of writing, Bitcoin was trading at $122,628, down 1.6% on the day but 5% higher than a week ago.

Analyst Warns XRP Holders: Don’t Be Exit Liquidity for Meme Coin Hype

Abdulkarim Abdulwahab
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Analyst Warns XRP Holders: Don’t Be Exit Liquidity for Meme Coin Hype

Widely followed XRP community commentator Zach Rector warns investors to be cautious of misleading advice from some influencers amid a renewed meme coin frenzy.

In a tweet, Rector cautioned the community against falling for deceptive tactics influencers use to promote meme coins. Specifically, he highlighted a pattern where content creators claim to have sold their XRP holdings in favor of lesser-known tokens or “shitcoins” as part of a ploy to gain attention and profit from unsuspecting investors.

3 Steps to Watch

According to Rector, these creators follow a predictable three-step strategy. First, they create FUD around XRP to attract engagement, falsely claim they’ve sold their XRP holdings, then aggressively promote a new, obscure coin.

The ultimate goal is to generate enough buying pressure for them to sell their positions, effectively using followers as exit liquidity.

Essentially, Rector’s message reminds XRP holders to stay skeptical of hype and sudden influencer shifts.

Notably, after Bitcoin broke an all-time high this week, a new wave of meme coin frenzy has emerged. However, it is not from popular names like Dogecoin, PEPE, or Shiba Inu.

Ongoing Meme Coin Frenzy

In particular, the BNB Chain ecosystem is currently leading the meme craze. The BNB Chain’s recent meme coin surge has rewarded around 70% of over 100,000 traders with profits, according to blockchain analytics firm Bubblemaps.

One trader made $10 million, and thousands of others earned six-figure gains. In total, 93,228 traders profited roughly $516 million, while 39,934 lost $114 million.

The frenzy aligns with BNB’s price rally and tokens inspired by Binance founder Changpeng “CZ” Zhao. “[It’s] BNB meme szn,” CZ posted in response to the development.

To further emphasize the frenzy, BNB Chain now dominates meme trading with the entire top 20 trending tokens tracked by DEXScreener. It completely knocked out Solana in on-chain meme activity.

With this momentum, BNB is trading at an all-time high above $1,300, having surpassed XRP in market cap ranking. Meanwhile, due to XRP’s price stagnation, Tether’s USDT has also surpassed it. 

Now it holds the fifth position in market ranking, down from third just a week ago. As a result, many have started to write off XRP again.

XRP Is Still Winning

Meanwhile, in response to XRP’s ongoing lackluster performance, Rector highlighted that since the U.S. election in November 2024, XRP has surged 488%, outperforming top cryptos like Bitcoin (83%), Ethereum (95%), and BNB (136%). Based on this figure, Rector maintains that XRP remains the leader of the current bull run.

Notably, XRP’s performance over the last two months has been subdued and mostly bearish. Still, Rector insists it remains the best-performing major crypto since last year and that the time for the next wave is coming.

Ultimately, with meme coin frenzy regaining momentum, XRP proponents like Rector urge investors to think twice before following influencers calling for an XRP dump amid its current performance.

Crypto Coach Says: Go Touch Grass, Come Back in 5 Years — XRP Will Do the Rest

Abdulkarim Abdulwahab
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0
Crypto Coach Says: Go Touch Grass, Come Back in 5 Years — XRP Will Do the Rest

Crypto commentator Coach JV has again urged investors to step back from short-term noise and trust in the long-term trajectory of assets like XRP and Bitcoin.

In his latest post on X, he pointed out that governments have the power to drastically collapse the value of money. Yet many individuals still expect these systems to provide financial security.

“The government can collapse the value of your money by 96-97% overnight,” Coach JV said.

Based on this, he suggests that investors should stop waiting for external rescues. Instead, he urges them to make informed investment decisions in assets like XRP and be patient with their investments.

“Go Touch Some Grass”

His message echoes the long-held belief of many XRP supporters that XRP is not just a quick trade, but a long-term investment. According to JV, those who stay patient and ignore daily ups and downs will be glad they did.

“Go touch some grass, come back in five years,” he advised. This suggests that investors should take a break from obsessing over charts and daily swings, and await a time when XRP and Bitcoin could redefine wealth and financial independence.

This aligns with JV’s long-standing message that wealth is built during quiet periods, not during hype cycles. As he previously emphasized, XRP under $3 remains “a massive blessing.”

He sees it as a favorable accumulation zone that only seasoned investors recognize. He often compares it to farming: planting seeds when the ground looks barren, long before the harvest season begins.

The Case for Long-Term XRP Confidence

Notably, XRP traded at $0.223 five years ago but has increased by over 1,245% since then to its current value of $3. This five-year performance continues to influence suggestions about what the next five years hold.

Despite recent stagnation around the $3 level, optimism remains strong. Many analysts expect that once U.S. XRP ETFs secure approval, institutional inflows could propel the asset to double digits and beyond.

As highlighted in recent analyses, a projected $10 billion in early XRP ETF inflows could lift the token’s market cap by over $500 billion, driving prices toward $12 within weeks of launch.

Others foresee an even greater revaluation as Ripple’s global payment infrastructure gains traction.

For Coach JV, this is exactly why patience is key. He believes that retail investors fixated on short-term dips risk missing out on “the greatest wealth transfer in history”. On the other hand, those who hold firm, he says, will eventually wake up to “unimaginable wealth.”

XRP and Bitcoin

This perspective resonates perfectly with the earliest Bitcoin adopters, who bought when the coin was under $1 a decade ago, only to watch it trade above $100,000 today.

Many in the XRP community believe XRP offers a similar opportunity for those holding today. This explains why many forecasts predict triple- and four-digit prices for the coin.

Ultimately, JV’s mention of governments collapsing monetary value highlights the crypto community’s distrust of traditional finance. Fiat currencies lose buying power every year. However, decentralized assets like XRP and Bitcoin protect against inflation and financial instability.

With Ripple making new partnerships, progress on regulations, and growing interest from big investors, many in the XRP community see something promising in the next five years.

TRUMP Meme Coin Issuer Seeks $200 Million to Revive Fading Token

Zabi
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0
TRUMP Meme Coin Issuer Seeks $200 Million to Revive Fading Token

Bill Zanker, an entrepreneur and longtime Trump associate, is spearheading plans to raise at least $200 million for a new digital-asset treasury company.

The company, operating under Fight Fight Fight LLC, plans to buy and support the Trump meme coin, dubbed OFFICIAL TRUMP, which has lost much of its market value since its launch early this year.

According to a Bloomberg report, Zanker’s financing ambitions could reach as high as $1 billion. However, the plan is still in progress and not guaranteed to close.

This development follows a steep decline in the token’s price, from $75 in January to around $8 today, representing a decline of over 90%.

Past Setbacks and Rivalry with WLFI

Notably, the latest fundraising effort comes months after a failed attempt to launch a Trump-branded crypto wallet. The project reportedly collapsed due to internal disputes with World Liberty Financial (WLFI), another cryptocurrency startup associated with the Trump family.

At the same time, World Liberty Financial’s own token, WLFI, has surged in visibility, attracting backing from ALT5 Sigma, a digital-asset treasury company.

In September, ALT5 Sigma revealed that it holds about $1.3 billion worth of WLFI, reflecting growing investor confidence in the project. Meanwhile, Zanker’s Trump coin initiative continues to struggle to regain momentum.

Trump’s Visible Role in the Project

Donald Trump himself has publicly shown support for the meme coin initiative. For instance, in May 2025, Trump attended a private dinner with leading holders of his meme coin. The event followed a social media campaign run by Fight Fight Fight LLC, where investors competed for a chance to join the exclusive dinner. 

A live scoreboard tracked top token holders and contributors, giving the event the feel of a public contest. Zanker and his team hoped the campaign would boost engagement and strengthen community loyalty around the token.

Although the event drew considerable attention, it had minimal impact on the coin’s market price. Consequently, the price continued to decline over the ensuing months.

Token Supply and Key Holders

According to blockchain analytics platform Messari, the Trump token remains tightly controlled. Only about 20% of the total supply is currently unlocked, resulting in a circulating market value of approximately $1.5 billion.

The remaining 80% of tokens are still locked and will be released gradually over time. Much of this locked portion is held by entities and investors linked to Trump.

TRUMP meme coin stats | Messari
TRUMP meme coin stats | Messari

The token’s total supply is capped at 1 billion, with 800 million tokens locked at launch. Among the most prominent holders is Justin Sun, the crypto entrepreneur and founder of Tron.

Sun, who is also an advisor to World Liberty Financial, attended Trump’s May dinner. At the event, he reportedly received a commemorative watch.

Trump Family Expands Crypto Footprint

Beyond the meme coin, the Trump family has been steadily expanding its presence in the digital-asset sector. Over the past year, ventures linked to Trump have emerged in Bitcoin mining, stablecoin development, and cryptocurrency-based ETFs.

Overall, these projects align with a broader trend of political figures exploring blockchain-related investments and fundraising opportunities.

While proponents argue that Trump’s endorsement lends credibility to the sector, critics warn of potential conflicts between politics and high-risk digital markets.

Analyst Says Even a Small Blip Could Push Bitcoin to $175K, but $400K Also Possible 

Mark Brennan
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Analyst Says Even a Small Blip Could Push Bitcoin to $175K, but $400K Also Possible 

Egrag Crypto, a prominent crypto analyst, recently predicted that just a small blip could push Bitcoin higher based on its historical behavior.

Note that Bitcoin is still struggling just above the $121,000 mark, after dropping from the new all-time high above $126,000. The week has seen the largest crypto by market cap swing between $115,000 and $125,000. However, with the current price at $121,929, and with bullish predictions still active, the future looks bright for Bitcoin.

Notably, one of the bullish predictions emerged on X today, as analyst Egrag Crypto assessed Bitcoin’s historical behaviour on a 3-month timeframe. According to his analysis, Bitcoin has repeated a clear channel formation in the last three cycles.

Bitcoin Previous Channel Breakouts

Specifically, the analysis focuses on Bitcoin’s cyclical pattern, where, after trading within the channel for a period, Bitcoin historically experiences a “breakout.” This notably happened whenever the price broke through the upper resistance line of the channels.

Bitcoin 3M Chart EGRAG Crypto
Bitcoin 3M Chart EGRAG Crypto

One past instance when Bitcoin broke out of the channels was the 2012 to 2013 breakout. For context, from July 2011 to early 2013, Bitcoin was in a relatively calm phase, trading within a well-defined channel while seeing modest gains.

However, around January 2013, Bitcoin experienced a breakout from the lower channel support, rallying to hit the $1,163 by November 2013, after which it witnessed a rejection. This marked a massive jump from the $11 price in July 2011.

Another notable breakout in Bitcoin’s history occurred in 2017. Notably, after trading within a channel from 2015 to early 2017, Bitcoin began to break through its resistance trendline. This breakout led to a parabolic rise, pushing Bitcoin’s price from the breakout price at approximately $1,500 to trade above $19,000 by October 2017.

Meanwhile, the third breakout occurred after Bitcoin’s price fell from the October 2017 levels to settle just above $3,000 in early 2019. 

Following this drop, Bitcoin traded in another channel between $3,000 and $14,000 from 2018 to 2020. However, in October 2020, it broke out of this third channel, and by November 2021, the price surged past $69,000.

Bitcoin to $175,000?

The most recent channel formation started forming in April 2022 right after Bitcoin dropped from the October 2021 peak. This channel has been preventing Bitcoin from breaking both resistance and support to date, prompting the analyst to suggest an upcoming surge towards the upper trendline.

The chart shows that the returns keep diminishing. However, Egrag Crypto believes these are necessary for a more sustainable price growth. In his commentary, the analyst suggests that even a small price movement (“blip”) in this current cycle could push Bitcoin to $175,000. 

He further explained that the middle of the price channel could see Bitcoin around $250,000, with the upper end potentially reaching $400,000. He believes these price targets are well within reach, drawing a parallel to his previous gold price target, which was set at $3,500 and is now trading around $4,000. 

While acknowledging the possibility of a “Suckers Rally,” a temporary price surge that could mislead investors, he maintains that $175,000 is his primary target for Bitcoin. For  context, Bitcoin would need to surge by approximately 42.7% from $122,622 to reach $175,000.

Further Bullish Prediction

It is important to note that there still exists other bullish predictions for the firstborn cryptocurrency. On his hand, Merlijn The Trader is eyeing a signal from Bitcoin’s MACD indicator, suggesting that a new price surge could be imminent. He noted that each time the MACD line has crossed in the past, Bitcoin has experienced a substantial price increase.

Bitcoin 1W Chart Merlijn
Bitcoin 1W Chart | Merlijn

This pattern is being repeated now, as the MACD has flashed again, which the trader believes could indicate another explosive phase for Bitcoin. Merlijn emphasized that this recurring pattern precedes every major price rally, implying that history might be about to repeat itself. Per the chart, the anticipated target is above $150,000.

Dan Gambardello Shares Cardano Dip Targets Amid Continued Price Suppression

Elendu Benedict
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0
Dan Gambardello Shares Cardano Dip Targets Amid Continued Price Suppression

Top market analyst Dan Gambardello has predicted potential Cardano targets following ADA’s rejection from a lower trendline.

He analyzed the Cardano macro setup in his recent price outlook, identifying another price rejection. The prominent commentator shared that ADA has failed to reclaim another crucial support level and could see much lower price targets from here.

Meanwhile, Gambardello continues to cite massive price manipulation as the cause of these bearish trends. He believes that forces are suppressing an altcoin breakout to buy time, as institutional and nation-state crypto adoption should have sent Cardano and the broader cryptocurrency market surging at this point of the business bull cycle.

Cardano Misses Weekly Breakout Timeline

Gambardello identified that Cardano broke out around this time in 2020 after 714 days of consolidation from the bear market lows of 2018. Applying the same duration, he discovered that the 714-day consolidation from the 2023 bear market lows was around May.

If ADA had followed the timeline, he noted that Cardano could have resumed the massive price breakout it saw in the last occurrence. However, the token has missed this timeline, as prices show weak momentum.

Cardano 714-Day Trend/Dan Gambardello
Cardano 714-Day Trend/Dan Gambardello

On the daily chart, the analyst mentioned that Cardano was rejected from a lower trendline. The cryptocurrency lost the former support area around $0.90 following its 6.7% drop on September 22. A pullback to reclaim the trendline halted at $0.89 on October 3, with another rejection pushing ADA lower to the current price level.

ADA Dip Targets If Bearish Trend Persists

Notably, the rejection places Cardano well within bearish territory. Gambardello predicted that the current dip targets a correction to the mid-$0.60 range, with the lower target around $0.62. This marks a 24% decline from the current market price of $0.823.

Cardano Fibonacci Supports/Dan Gambardello
Cardano Fibonacci Supports/Dan Gambardello

Nonetheless, the analyst noted that Cardano might not correct that deeply, as Fibonacci retracement levels might provide support. He highlighted that the 0.618 and 0.786 levels at $0.808 and $0.785 could cushion lower prices.

Moreover, Cardano is trending above the 20-week and 50-week moving averages (MA), which further supports this narrative. Notably, both averages stand around $0.770 and $0.794, respectively, and could provide additional support for ADA.

Analyst Says Shiba Inu Could “Discharge” Soon, Identifies $0.00001760 as Key Breakout Zone

Lele Jima
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0
Analyst Says Shiba Inu Could “Discharge” Soon, Identifies $0.00001760 as Key Breakout Zone

Following a prolonged consolidation phase, a TradingView analyst has predicted that Shiba Inu could soon experience a “discharge” in price momentum.

The analyst, ForexDreamVantage, shared the outlook yesterday in a post titled “Shiba [Inu] Possible Discharge Soon,” signaling an expectation of a potential breakout for SHIB. According to the analyst, Shiba Inu has been trading within a narrow consolidation zone since April. 

Requirements for Next Breakout 

The chart shows that Shiba Inu’s price has fluctuated between $0.00001080 and $0.00001760 over the past six months. Notably, ForexDreamVantage identified the $0.00001080 level as a “strong buy zone,” suggesting it could serve as a key support area for SHIB.

Meanwhile, the $0.00001760 region, labeled as the “trend reversal zone,” marks a level where Shiba Inu previously encountered strong resistance on May 12. According to the analyst, SHIB is likely to test the top of this reversal zone before retracing to seek liquidity near the buy zone at $0.00001080. 

He predicts that this move could provide the momentum required to break above the $0.00001760 resistance, which would clear the path for a rally. 

Shiba Inu TradingView
Shiba Inu TradingView

However, he emphasized that the upcoming rally hinges on the performance of major cryptocurrencies, particularly Bitcoin’s price trajectory. He pointed out that with Bitcoin currently experiencing a significant upswing, Shiba Inu could benefit from this optimistic sentiment and follow suit. 

Nonetheless, he cautioned investors that Shiba Inu’s potential breakout above $0.00001760 may not occur easily, even if the broader crypto market remains bullish. He highlighted that the region carries significant selling pressure, which previously hindered SHIB from breaking higher in May. 

In the meantime, he urged traders to look out for a potential dip toward $0.00001080–where accumulation might occur before a possible rally. 

Shiba Inu Dips 5.31% 

Since the analysis, the broader cryptocurrency market has corrected, causing Shiba Inu to relinquish some of its recent gains. As a result, SHIB declined from a daily high of $0.00001281 to $0.00001212, marking a 5.31% drop.

Despite the recent pullback, community sentiment remains largely optimistic. Many enthusiasts believe SHIB could spike to a new all-time high this year. The Shiba Inu ecosystem team has also fueled this optimism after hinting that SHIB could be the next crypto asset after Bitcoin to hit a new ATH. 

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