Bitcoin Crypto News

Shiba Inu Adds Nearly 36,000 Holders Since June Despite Crypto Market Turmoil

The price trend of Shiba Inu has been following the rest of the cryptocurrency market and remains negative. Notably, SHIB is still seeking to reclaim the high points it reached last year, when the value and popularity of the meme coin surged. As of this writing, SHIB is trading at $0.00001145, down 4.5% in the last seven days, data from Coingecko show, Sunday. Despite the crypto market’s sluggish condition, a portion of the dog-themed coin’s investors are optimistic that the asset will recover and are boosting their coin purchases while ignoring the market’s weakness. According to data from CoinMarketCap, as of September 24, SHIB has 1,226,031 holding addresses, representing an increase of around 35,835 new holdings over the course of three months. The new holders represent a 3% increase from the 1,190,195 who were registered on June 26. Related Reading: Dogecoin (DOGE) Is On Top Of Whales’ Menu – Here’s Why Shiba Inu: Increasing Use Case In addition to the prospect that new SHIB holders may wager on the coin’s appreciation, investors are likely drawn by SHIB’s rising utility. It is worth mentioning that interest in meme-based cryptocurrencies waned as a result of unfavorable publicity around the coins’ supposed lack of utility. Since June, Shiba Inu’s value has been on a roller-coaster ride, but the price has mostly remained low. The coin’s three-month high price was $0.000017 on August 15, and as of the time of writing, it had gained about 5% in the last 24 hours. Previously, the majority of retail investors liquidated around the price and then sought entry points as the memetoken approached $0.00001. Due to the massive concentration of tokens in the hands of small and medium-sized whales, Shiba Inu faces a significant increase in selling pressure whenever it succeeds to breach past local resistance barriers. Holding On To The Meme Coin Meanwhile, around 30% of SHIB investors have held the asset for more than a year, according to statistics from Into The Block. Despite the ongoing bear market, investors have generally abstained from disposing of their coins. These holders are fostering a bullish mood among investors while aiming to eliminate SHIB as a quick-profit asset. As of the time of writing, the trading volume of Shiba Inu is still declining, hence the token’s volatility remains high. The decline in trade volume is unfavorable for a coin that heavily depends on speculative appeal. As the number of SHIB holders increases, it appears that interest in the coin is waning. Google Trends data indicates that global searches for the keyword “Shiba Inu” decreased to their lowest level in the past 12 months, suggesting that SHIB could be losing its most avid fans. Related Reading: Can WAVES Flow Back From Its Low Ebb And Reclaim $4.6? SHIB total market cap at $6.27 billion on the daily chart | Source: TradingView.com Featured image from Daily Pets Care, chart from TradingView.com

Crypto News

Can WAVES Flow Back From Its Low Ebb And Reclaim $4.6?

The month of September for WAVES didn’t look good as the coin registered a sharp downward pattern. The market is looking bearish as WAVES slipped below the key $4.6 level. Crypto market looking bearish for WAVES  WAVES key support retests the $4.3 zone OBV shows a weakening in selling volume Bitcoin, the king of crypto, climbed to $19.8K, forcing the retreat of the bears and allowing the bulls to recharge. In the event that Bitcoin nosedives lower than $19K, this could inevitably pull the other cryptocurrencies down with it. On the other hand, WAVES has shown some improvement as it dashes above the $4 zone in the last two days.   Waves is a multi-purpose blockchain platform which supports different types of use cases including decentralized applications and smart contracts. The blockchain platform’s native token is WAVES, an uncapped supply coin used for payments such as block rewards. $4.3 Revisited As Key Resistance Zone Based on the 4-hour chart, WAVES was able to recover and jump to the $4.3 level following its recent correction. In the next days, WAVES price is seen to bounce back in the $4.5-$4.6 range. A couple of days ago, the key support found at $4.3 have been revisited as a key resistance zone. Related Reading: Dogecoin (DOGE) Is On Top Of Whales’ Menu – Here’s Why Source: TradingView.com Earlier, its price has once again dropped below the $4 range. On the 1-hour chart, it retreated once again or back to the $4.3 level following its latest setback. The price on the higher timeframes is seen to be massively bearish than bullish. Additionally, the market is now leaning toward the sellers as noted in the past few weeks. WAVES was aiming to hit the $4.3 mark a few days ago but was barred and pushed towards the $3.9 mark instead. With that being said, going long in the $4.02 support level wouldn’t be a wise move, especially with the risks involved. With the token unable to clutch strongly on the $4 zone, this led to the bears gaining enough traction to dominate. Additionally, a selling opportunity is predicted to occur once a retest is done on the $4 mark. Related Reading: Polkadot Suffers 10% Weekly Loss On Hawkish Fed – Time To Buy DOT? WAVES RSI Falls Below 50 According to CoinMarketCap, WAVES price is up by 2.53% or trading at $4.01 as of press time. The Fibonacci retracement levels at the $4.0 and $4.09 range can hinder the buyers’ intent to press on the gas in terms of prices. The token’s relative strength index is seen to have traversed below 50 further strengthening the validation of bearish momentum. Also, the CMF is seen to have dropped beneath the -0.06 level showing the rapid loss of capital. In terms of On Balance Volume, the token seems to signify weakened selling as seen in the past few days. More so, the OBV also shows that there is no indication of a sharp pullback. The price is seen to have plunged below the $4 mark. It was seen to pause at the $3.94 level which means a retest at the $4 mark could tick off a selling opportunity. Crypto total market cap at $902 billion on the daily chart | Source: TradingView.com Featured image from The Coin Republic, Chart: TradingView.com (The analysis represents the author’s personal views and should not be construed as investment advice).

Altcoins Ethereum

Cardano (ADA), Shiba Inu (SHIB) and XRP See Surge of Interest As Crypto Markets Dip: Analytics Firm Santiment

A handful of crypto assets are witnessing a surge in social media interest despite the market’s price struggles this week, according to the analytics firm Santiment. Santiment notes Ethereum (ETH), XRP, Cardano (ADA), Shiba Inu (SHIB) and Polygon (MATIC) have been discussed more online in the past week, while most other crypto assets have been […]

The post Cardano (ADA), Shiba Inu (SHIB) and XRP See Surge of Interest As Crypto Markets Dip: Analytics Firm Santiment appeared first on The Daily Hodl.

Bitcoin Crypto News

Uniswap (UNI) Price Struggles To Overcome $6.8 Resistance

A Uniswap (UNI) recent market downturn has forced UNI’s trading range to shrink significantly. During the bull market in July, UNI jumped by more than 60 percent in just over two days, prompting the subsequent fall. After this price increase, the weeks that followed showed a reversal pattern known as a “head and shoulders,” which eventually led to a price decline. The price showed significant volatility over a 16-day period, as evidenced by the market’s historical statistics. This volatility pointed to a fierce battle between bulls and bears. Related Reading: Terra Dries Up As LUNA Sheds 40% From Recent High Chart: TradingView.com The bears clearly won this war, as the price of Uniswap fell by 17.30 percent, as shown in the figure. Prior to a price reversal, the regression channel shows the declining trend even more strongly. Due to this turn of events, the cost of Uniswap has risen from $5.745.00 to $6.459.00, a price hike of 13.54 percent. Nonetheless, the coin went through another period of volatility as price swings were driven by bulls and bears. It happened after Uniswap bulls attempted a break above the 50% Fibonacci retracement line. Chart: TradingView.com The bears prevailed once again in the end. The coin’s price dropped by an additional 15.54 percent after this victory. The loss of 13.54 percent in nine days was fully wiped out by the catastrophe. Uniswap’s trend has been on the rise since the most recent market meltdown, which has brought us to our current position. But a problem occurred as a result of the movement; it narrows to a point towards the conclusion. The leading trend line served as resistance. The Stoch RSI rating indicates that the currency experienced a single strong sell signal at this point. Related Reading: Chainlink Integrates New Tech, And It’s Going Green – Healthy For LINK? Uniswap Chart: TradingView.com This alerted Uniswap speculators and traders to the possibility of another market correction. In this predicament, UNI’s price can only move in two directions: up or down. 1 – the price will surpass the psychological resistance of $6.8 and continue to rise, and 2 – Uniswap price will not stabilize at the 50% Fibonacci retracement level before retracing. This speculative activity prevents dealers and investors from conducting business in the area. It stands at such a vital place as any breakouts can result in big gains and losses. As of this writing, Uniswap bulls are aiming to hold their position above the 50% Fib mark. If the price breaks upward, it will gain speed towards the 38.20 Fibonacci level and may perhaps surpass it. If the price falls, it should not fall below the $5.87 support level. UNI total market cap at $4.5 billion on the daily chart | Source: TradingView.com Featured image from Somag News, Chart: TradingView.com

Crypto News

Solana Shows Bullish Signs Ahead Of 1D Breakout, Can Price Go To $45?

Solana (SOL) develops bullish sentiments against tether (USDT), as the price of Solana (SOL) seeks to rise with an impending breakout above the current resistance. Bitcoin (BTC) gained significant strength after closing the weekly candle on a high note, with the price remaining above $21,700 for the first time in weeks. Most crypto assets, including Solana (SOL), have benefited from this, with the price aiming to break out. (Data from Binance) Related Reading: SEBA Bank To Include Ethereum Staking In Services Solana (SOL) Price Analysis On The Weekly Chart  The price of SOL has struggled to maintain its bullish momentum in recent months, as it was rejected from the $45 area, which was acting as a supply zone for most sellers. Despite growing sentiment that the price of SOL will rise, SOL has struggled to regain its bullish momentum. The weekly chart of SOL looks good, as the week ended bullish with more bullish sentiments. As the price of SOL cannot trend higher, it faces resistance to breaking above $38. SOL must break above this level in order for its price to rise to $40 and possibly $45. For a better chance of trading higher, the price of SOL must break and hold above this resistance. If the price of SOL breaks out with significant volume, the price may rise. If the price of SOL fails, we could see a retest of $31, which would act as a good demand zone for a price sell-off. The price of SOL appears to be rising as the market prepares for a relief rally. Weekly resistance for the price of SOL – $38-$45. Weekly support for the price of SOL – $31. Price Analysis Of SOL On The Daily (1D) Chart The daily timeframe for SOL prices appears bullish, with prices aiming to end the day on a high following a strong weekly candle close. SOL has recovered from a daily low and is attempting to break above the 50 Exponential Moving Average. With good volume, the price of SOL would break above this region of $38, acting as resistance for the price of SOL to trend higher. If the price of SOL fails to break above $38, it may retest the lower region of $31 in order to gather more volume for a possible rally above that price region. On the daily timeframe, the price of SOL is currently trading at $37, holding above the 50 Exponential Moving Average (EMA). The price of $36 corresponds to the 50 EMA, which is a resistance to the price of SOL. If the price of SOL flips the 50 EMA, a strong bullish price movement is assumed. If the price of SOL flips the 23.6% Fibonacci (Fib) retracement value, a higher price movement is assumed. On the daily chart, the Relative Strength Index (RSI) for SOL is above 50, indicating high buy order volume. Daily resistance for the SOL price – $45. Daily support for the SOL price – $31. Related Reading: Ethereum Classic (ETC) Leads Weekly Gains Amidst Crypto Market Reversal Featured Image From NewsBTC, Charts From

Bitcoin Crypto News

On-Chain Data Shows Bitcoin Whale Dumping Behind Dip Below $19k

On-chain data shows the Bitcoin exchange whale ratio spiked up just before the crypto’s plunge below the $19k level. Bitcoin Exchange Whale Ratio Breached 90% Right Before The Price Dip As pointed out by an analyst in a CryptoQuant post, the whale activity on exchanges has been raised recently. The “exchange whale ratio” is an indicator that measures the ratio between the top ten inflow transactions to exchanges and the total exchange inflows. The ten biggest transfers are assumed to be from the whales, so that the metric tells us what part of the total number of coins moving into exchanges is coming from these humungous holders. When the value of this indicator is high, it means a large part of the inflows is coming from whales right now. Such a trend can be a sign of dumping from this cohort and can therefore be bearish for the price. On the other hand, low values of the ratio can suggest whales are making up a healthy part of the transactions to exchanges at the moment. This kind of trend can either be bullish or neutral for the crypto’s value. Related Reading: Core Scientific Confirms selling 1,100 Bitcoin In August, What Was Its Impact? Historically, the metric has usually had values above 0.85 during bear markets or fake bulls, while it has generally remained below this threshold during bull runs. Now, here is a chart that shows the trend in the Bitcoin exchange whale ratio over the last couple of months: The value of the metric seems to have been elevated recently | Source: CryptoQuant As you can see in the above graph, the Bitcoin exchange whale ratio surged up yesterday and hit a value of 0.9, implying that whales contributed 90% of the inflows to exchanges. This spike in the indicator came not too long before the plummet in the price of the coin below $19k, suggesting that dumping from whales may have been behind the drop. Related Reading: Reap a 7% Presale Bonus Reward with VertoChain – See How It’s Aiming to ‘Swap’ market cap roles with top crypto Ethereum and Bitcoin The ratio has also remained elevated since then, which could mean the cohort is continuing to deposit to exchanges, something that could prove to bearish for BTC. BTC Price At the time of writing, Bitcoin’s price floats around $19.3k, down 4% in the last seven days. Over the past month, the crypto has lost 17% in value. The below chart shows the trend in the price of the coin over the last five days. Looks like the value of the crypto has rebounded back a little to above $19k again since the plunge yesterday | Source: BTCUSD on TradingView Featured image from Karl-Heinz Müller on Unsplash.com, charts from TradingView.com, CryptoQuant.com

Crypto News

Fantom Keeps Close Eye On Possible 20% Slide This Month

Fantom (FTM) has been moving on a brisk bullish pace at a particular range for four months now following a sharp descent in May. FTM price is up 2.21% Token moving bullish but has slipped mid-range in the past couple of days Bears poised to dominate, buying spree not advisable at this point However, it seems the price has abated and moved below the range’s mid-point as seen in the past couple of days. FTM is now bracing for a potential 20% drop in the next few days. September also looks generally bearish for Bitcoin as it ebbs and could go further down in the coming days. With Bitcoin slipping below its fail-safe range, Fantom is likely to follow through and shave off some value. According to CoinMarketCap, FTM price is trading at $0.2519 or a spike of 2.21% as of press time. Related Reading: NEAR Price Could Drop To $3 If This Bearish Pattern Continues FTM Shifting From Support To Resistance On the daily chart, Fantom’s midpoint was spotted at $0.32 with its range going from $0.45 to $0.2. In August, FTM was seen to be slackening with level shifting from support to the resistance zone. Evidently, the mid-point was also breached and the RSI also dropped below the 50-mark showing a bearish movement. Chart: TradingView.com On the hourly chart, it seems that FTM’s volatility has weakened. The price gripped the $0.28 key support zone as it jumped off the same level. At this point, the bulls look weakened with FTM drawing a huge candle tilted downwards. Meanwhile, Fibonacci retracement levels are pegged at $0.256 and $0.261; respectively. The two levels were spotted right under the demand zone. Bears Poised To Tighten Clutch Notably, OBV has also nosedived showing the spike in selling volume. More so, RSI is also looking extremely bullish as its shoots above the 30 level. The daily chart showed that hovering towards the $0.2 level provides a good buying opportunity. It looks like a jump aiming at the $0.26 zone is possible. With that move, it would definitely be better to sell as opposed to buying. At this point, the bears are poised to dominate and it’s not advisable to go for a buying or shopping spree. Related Reading: Litecoin (LTC) Near-Term Route Could Be Determined By This Factor Fantom is a crypto network that boasts speedy payments, secure exchanges, and incredibly low gas fees that allow DApps on its network with the aid of smart contracts in executing transactions free from any middleman. With Fantom, traders can freely exchange or convert tokens from other blockchains like Ethereum and vice versa. Fantom’s native token FTM is used for paying gas fees when making transactions within the networks. Staking FTM allows you to earn roughly 13% annually in Fantom’s yield program. FTM total market cap at $645 million on the daily chart | Source: TradingView.com Featured image from DataDrivenInvestor, chart from TradingView.com