With the on-going trade in the crypto market, it’ll be interesting to watch cryptocurrencies like Bianace coin, Shiba Inu and Rocketize and their asset value.
Author: BTCLFGTEAM
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Dogecoin (DOGE) and Shiba Inu (SHIB) Go Parabolic on News of Elon Musk’s Twitter Purchase. Floki (FLOKI) Is Another Crypto to Pay Attention To
Twitter stock (TWTR) rallied a little after Bloomberg report of Elon Musk closing his Twitter deal. The biggest beneficiaries of that news, however, have been Dogecoin (DOGE) and Shiba Inu (SHIB). -
Crypto Price Today Live: Bitcoin nears $21K; Shiba Inu & Dogecoin rally up to 15%
New Delhi: Crypto market continued to gain on Thursday despite muted earnings from the tech sector. Bitcoin marched towards $21,000 levels, whereas the total market cap of crypto space topped the $1 trillion mark again.
Most major altcoins were in the green, with a stellar buying interest in the popular meme coins. All eyes were set on the US Fed’s monetary policy meeting, scheduled next week.Barring the polygon and the US dollar-pegged Tether, all other top crypto tokens were trading higher. Dogecoin zoomed 15
%, Shiba Inu was up by over 6% and Ethereum jumped 4%The global cryptocurrency market cap hit the $1 trillion mark, after rising up to 3% in the last 24 hours. However, the total trading volume jumped as much as 13% to $102.4 billion.
Expert take
Extending the Buoyancy, the global market cap touched $1 trillion after almost a month. The top two cryptos – Bitcoin and Ethereum- also saw some renewed interest, said Prashant Kumar, CEO and Founder, weTrade.
“Positive momentum around the appointment of UK prime minister Rishi Sunak, global markets along with a hope of a reduced interest rate hike in the US Federal Reserve market next week all played a role,” he added.Tech View by Giottus Crypto Platform
Ethereum (ETH) has turned bullish on the lower time frames. Much of this move can be attributed to the broader market sentiment turning positive after Bitcoin broke through a year-long resistance. ETH has taken this opportunity to rise more than 30% from its recent bottom.
ETH still needs more confirmations on the higher time frame charts to establish an uptrend. While it has been trading well above its 50-day moving average of $1,380, it will need to clear resistance at $1,700 (its .618 fibonacci retracement between August and now) to continue moving up. Slightly above this at $1,800, it will be able to register a higher high and signal a clear market structure change. Those looking to open long positions may want to therefore adopt a wait and watch approach.
ETMarkets.comFor those with a bullish bias looking to enter, support at $1,500 and $1,440 can offer good opportunities to engage in some buys on dips, the experts suggested. With its daily RSI hitting 70, a minor correction can be reasonably expected in the coming days, or at the very least – some sideways consolidation, they added.
Global Updates
Google reported its softest advertising growth in nine years, with company management taking note of softer crypto ad spending as contributing to the weak numbers.The decentralized autonomous organization (DAO) behind crypto exchange SushiSwap has approved a legal structuring by an overwhelming majority.
The flagship crypto fund for venture-capital firm Andreessen Horowitz’s, which is also known as a16z, has cratered by more than 40 per cent in the first half of this year, the Wall Street Journal reported, citing people familiar with the matter.
The UK National Police Chiefs’ Council (NPCC) has stationed crypto tactical advisers in police departments nationwide to help investigate and seize digital assets tied to crime.
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Will BudBlockz (BLUNT) Be Another Dogecoin Killer Like Shiba Inu?
Although the crypto sector has suffered a bear market this year, experts predict that fortunes will soon change. The crypto industry is fast-growing, and numerous cryptocurrencies are available, but only a few have real-world uses or some form of utility.In recent weeks, BudBlockz (BLUNT) has emerged as a popular token among investors promising to solve the stagnation experienced in the cryptocurrency sector. BudBlockz (BLUNT) has been lauded as having the potential to be another Dogecoin (DOGE) killer like Shiba Inu (SHIB). Dogecoin is the pioneering meme coin that debuted in 2013, and several meme coins have come to the market since then, but they weren’t as successful as Dogecoin. Shiba Inu (SHIB) rose dramatically and toppled DOGE, and now BudBlockz aims to replicate the feat.Shiba Inu (SHIB), the Dogecoin “Killer”
Shiba Inu was created in 2020, and it took the world by storm, with millions investing in the coin. The token even got an endorsement from Elon Musk, who promoted it on Twitter, drawing significant interest to the coin. As a result, the massive interest caused a surge in the value of Shiba Inu, leading to it surpassing Dogecoin. The reason why Shiba Inu is much popular is that its developers are not relying on social media hype only. They are also developing other features and foraying into the metaverse to make the token have real-world utility.
BudBlockz (BLUNT) is Revolutionizing the Cannabis Sector
BudBlockz (BLUNT) promises to have the same impact that Shiba Inu has had with its utility in the cannabis sector. The blockchain is designed to create a community ecosystem for cannabis enthusiasts, and since it is built in Ethereum, it allows the use of DEX and DeFi products. The project will offer cannabis enthusiasts a platform to buy and sell digital and physical assets. Essentially, BudBlockz will permit NFT fractional ownership, e-commerce opportunities, and cannabis farm ownership. Also, it is vital to note that the blockchain will not be limited to supporting the cannabis sector only, it will facilitate P2P purchasing too since it uses blockchain technology. BudBlock (BLUNT) will outdo Dogecoin because it supports various innovative ideas via a decentralized NFT marketplace, digital trading, and commerce instead of depending on social media hype. As a result, these features and fractional ownership might support sectors such as NFT collectibles and online selling beyond cannabis products. Interestingly, BudBlockz offers a more decentralized and inclusive governance approach promoting a community feeling. The platform allows BLUNT holders and users to submit proposals, participate in discussions, vote, and have a say in ecosystem development. The token sold out ahead of schedule during its private sale, highlighting its popularity, and currently, the presale is ongoing. BudBlockz is showing massive potential to be the next Shiba Inu, and it presents an excellent opportunity for investors to invest in the fast-growing crypto and cannabis sectors. Learn more about BudBlockz (BLUNT) at the links below: Official Website: https://budblockz.io/ Presale Registration:: https://app.budblockz.io/sign-up Telegram Group: https://t.me/BudBlockz Discord Server: https://discord.gg/s7hBFgvTmN
All BudBlockz Links: https://linktr.ee/budblockz
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Shiba Inu Burn Rate Spikes 14,267%, Price Recovers
Wahid Pessarlay
Shiba Inu’s burn rate massively recovers in the past 24 hoursShiba Inu (SHIB) just saw a massive burn rate spike while not many tokens were burned. According to the SHIB Burn tracker, Shiba Inu’s burn rate rose by 14,267.59% in the past 24 hours.
Source: SHIB BURN The spike comes while the number of the burned tokens is still not massive. According to SHIB Burn, around $14.07 million tokens — worth roughly $155 at the time of writing — were sent to dead wallets in the past 24 hours.
The largest burn transaction in the past day, per SHIB Burn data, is roughly 9.8 million SHIB. Furthermore, only 97,991 tokens were burned the day before.
With the latest market recovery, Shiba Inu has also gained momentum. At the time of writing, SHIB is trading at $0.000011, up by 7% in the past 24 hours, according to data provided by CoinMarketCap.
AdsSHIB’s market cap has also touched the $6 billion mark for the first time in 17 days.
The price action comes as the Luxembourg-based cryptocurrency exchange Bitstamp listed the second largest memecoin — top 14 cryptocurrency — for customers in the U.S., as U.Today reported.
Shiba Inu team has also brought a new concept art, called “Dunes,” to its SHIB Metaverse, U.Today reported on Tuesday.
On the other hand, a massive Shiba Inu whale, holding 3.3 trillion SHIB tokens — worth roughly $37 million at the time of writing — is on the move. The whale transferred the funds from one anonymous wallet to another.
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Bitcoin (BTC/USD) rallies to $20,000. Here is the next potential target
Bitcoin (BTC/USD) trades at $20,660 as of press time, the highest level in 6 weeks. The cryptocurrency had added an intraday of 7%. The gains were accompanied by a 157% jump in trading volumes.
Wednesday’s gains in Bitcoin come when investors have been calling for reversals at $19,000. That was after BTC looked to have bottomed at the level. There have been bull calls, going by insights data and analysts’ thoughts.
One factor used as a bullish indicator for Bitcoin is the US dollar index or DXY. In a session with his 278,000 YouTube followers, crypto analyst Jason Pizzino says DXY shows signs of exhaustion. The fatigue comes after a rally of more than 16% this year.
Pizzino says that DXY closed below the 50%-mark last week, an indication of bullish exhaustion. The analyst has earmarked 109 (points) as the probable lower top for DXY. The level will be the first lower top for DXY for a year. How will this point to a bullish market for Bitcoin?
Investors look at DXY as a gauge of the overall market. When the index weakens, it suggests that investors are developing a risk-on sentiment. As a result, they are moving their capital from the defensive dollar to risky assets like crypto.
Bitcoin pushes above moving averages as price overcomes tight trading
Source – TradingViewOn the daily chart, Bitcoin has been trading within a tight range prior to Wednesday’s breakout. The breakout has seen the cryptocurrency break above the 20-day and 50-day MA, which trapped it.
An RSI reading of 65 shows that there are more buyers for the cryptocurrency. However, we are approaching the overbought level, which could usher in a correction.
Will Bitcoin continue to go higher
The current momentum looks sustainable for Bitcoin to the next resistance at $21,500 and further at $22,500. However, it must overcome the immediate and higher-up resistance zones for a sustained surge. An improved crypto sentiment could do much to help. Nonetheless, BTC price looks attractive for dip buyers at the current valuation.
Where to buy BTC
eToro
eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.
Bitstamp
Bitstamp is a leading cryptocurrency exchange which offers trading in fiat currencies or popular cryptocurrencies.
Bitstamp is a fully regulated company which offers users an intuitive interface, a high degree of security for your digital assets, excellent customer support and multiple withdrawal methods.
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Anon Whale Dumps 3.3 Trillion SHIB, Here’s Why
Alongside Dogecoin, Shiba Inu has dominated the meme coin market. Since last year, investors’ interest in meme coins has peaked. Despite the sustained cryptocurrency bear market, interest in SHIB among whale investors hasn’t subsided.
Shiba Inu has recently seen an unprecedented increase in whale activity. Whales were buying trillions of SHIB rather than billions. The whales have also been moving, dumping, and buying back the SHIB, using a personal trading strategy.
Some unidentified whales now engage in this routine behavior on a regular basis. According to Whale Alert data, an anonymous whale transferred 3.3 trillion SHIB to another wallet.
Anonymous whale transfers 3.3 trillion SHIB
According to the data from Whale Alert, 3,367,037,381,943 SHIB has been dumped by an anonymous wallet. The exact nature of the transfer is unknown. It is unclear whether the transfer is just a normal movement of the token between the whale’s wallet or a legitimate sell-off.
The current value of the transferred SHIB is worth $35.7 million SHIB at the time of writing, and the anonymous whale now has zero SHIB in its wallet. The market that was plunging until yesterday has reversed and is trading in the green.
As per the data from CoinMarketCap, SHIB is currently trading at $0.00001061 with a 5.3% hike in the last 24 hours. SHIB, which was trading at $0.0000101, touched $0.0000107.
The crypto market has regained a $1 trillion market cap as major coins have displayed single-digit and double-digit gains. BTC and ETH have gained 6.4% and 13.26% in the last 24 hours, respectively.
DOGE has displayed a much better gain, with a 12.3% price hike in the last 24 hours. However, it is unclear whether it is a short-lived bubble or whether it is just the beginning of another rally. The exact reason for the rally is also unclear at the moment.
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Shiba Inu’s BONE Pumps 20% and Outperforms SHIB
BONE, a cryptocurrency that is part of the Shiba Inu ecosystem and, in particular, the decentralized ShibaSwap exchange, has unexpectedly pumped up 20%. Meanwhile, SHIB is also rising but on a much smaller scale, and it is currently trading just 3.7% above today’s opening price.
Source: TradingView What led to the surge in BONE quotations is unknown, although there are rumours online about the imminent release of new details regarding the long-awaited Layer 2 Shibarium protocol. Recall that the cryptocurrency is destined to play the role of a gas fee in the forthcoming innovation. Moreover, BONE should be a reward for developers and other contributors to the upcoming blockchain.
BONE has the advantage over SHIB of a limited and extremely small number of tokens. Thus, the cryptocurrency’s total supply is only 250 million tokens, of which 20 million are reserved for the aforementioned rewards. Because of this fact, as well as a relatively small presence on the major exchanges, BONE may be more susceptible to explosive price spikes as it is today. Thus, the current pump is followed by a 170% increase in BONE trading volume, as shown on the CoinMarketCap page.
BONE price action
BONE has now reached $1.16, where it had previously shown two opposing performances. So for the first time, BONE quotes drew a figure at these levels, which can be compared with Bart Simpson’s hairstyle. For the second time, however, at the end of August, BONE rose from this zone by 106% to reach its all-time high of $2.4.
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Shiba Inu lags behind while ETH, BTC, ADA take front stage on Binance
Over the last couple of months, the prominent meme coin Shiba Inu ($SHIB) was seen dominating the entire crypto industry. However, the fervor around this community-driven project seemed to be simmering down. Despite the launch of its recent collectible card game, the altcoin barely garnered any gains. It seems like Binance users weren’t too curious about the meme coin either, as it failed to bag a spot on its top 10 trending search list.As per recent data curated by Crypto Differ, Shiba Inu stood in the 14th spot on Binance’s trending searches. This was quite surprising to many considering the usual zeal around the network.
Source In the above chart, Binance Coin ($BNB) emerged as the most popular asset on the exchange. The world’s second-largest crypto, Ethereum ($ETH), stood second on this chart as well. This is mostly due to the increased liquidations that occurred throughout the day. It should be noted that a whopping $4.95 million in ETH liquidations took place over the last four hours.
Bitcoin, the world’s largest cryptocurrency by market capitalization, was ranked third, followed by Cardano ($ADA) and Solana ($SOL).
Other popular tokens like Luna Classic ($LUNC) and fundamental meme crypto Dogecoin ($DOGE), were also a part of the list.
Shiba Inu gains pocketed over the last couple of hours
While Shiba Inu’s popularity took a back seat, the asset’s price wasn’t faring too well either. At press time, most crypto assets were seen pocketing significant gains. Shiba Inu, however, limited its 24-hour price surge to 4.60%.
At press time, Shiba Inu was trading for $0.00001042. Earlier today, the altcoin managed to surge to a high of $0.0000107 from a low of $0.00001001.
Source It should be noted that the asset’s latest surge pulled SHIB out of its weekly stagnancy. Despite this, Shiba Inu continues to trade about 88% below its all-time high of $0.00008845, which it achieved exactly a year ago.
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Shiba Inu Sets New Milestone in This Long-Term Metric: Report
According to IntoTheBlock data, SHIB is now seeing its highest percentage of long-term holders, setting a new milestone in the metric. The percentage of long-term holders, or “hodlers,” has jumped to 38%, the highest so far, while that of midterm speculators continues to decline. Meanwhile, the percentage of short-term holders has held relatively steady.According to IntoTheBlock’s data on holder composition by time held, 38% of SHIB holders have “hodled” their tokens for more than a year, 59% have held within a year and 3% have held onto their tokens for less than a month.
Shiba Inu “hodlers,” referring to addresses that have held SHIB for more than a year, have displayed growth since the start of 2022, from barely 1% to over 38% of holders.
AdsDespite being significantly down from its peak, SHIB still draws a sizable number of investors. Shiba Inu currently has 1,230,662 holders, according to cryptocurrency data tracker WhaleStats, indicating that the number of SHIB holders has increased recently.
Shiba Inu trading volumes jump 211%
According to CoinMarketCap data, Shiba Inu is demonstrating a 211% rise in trading volumes as the SHIB price gains traction.
At the time of publication, SHIB was changing hands at $0.00001047, up 5.50% in the last 24 hours. A close above $0.00001017 would make the SHIB price mark the second consecutive day in the green.
Higher volatility, most of the time, leads to increased trading volumes for most crypto assets as traders buy and sell in large quantities to capture profits.
Thus, the rise in SHIB volume may have been caused by investors accumulating SHIB in its current range.
