Shiba Inu (SHIB) coin price jumped 10% in the previous three days. Additionally, the Shiba Inu burn rate spiked at 14,267% early on Thursday.
Category: NEWS
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Toon Finance Coin Next Dogecoin or Shiba Inu?
It is an all-known fact now that meme coins are getting hotter day by day. While people looked at meme coins with a certain skepticism in the past due to them being a highly speculative asset (that mostly reacted to certain news and communities alone), things have now changed. DOGE, for example, is now one of the biggest cryptocurrencies out there.Crypto and market experts are calling Toon Finance the next DOGE or SHIB coin as they blow through presale. You can find TFT coin on major crypto platforms such as Crypto.com and CoinMarketCap.com Since DOGE came out almost a decade ago and kind of proved how a meme coin can move past the joke and provide actual utility, there has been a meme coin uprising of sorts.SHIB TFT Bandwagon
The Shiba Inu coin is also a story to reckon with, especially, since it has been able to achieve so much in such a short span of time. The team behind SHIB also focused on creating a robust ecosystem around the coin which has helped propel it to success. It is also supported by a huge number of supporters that have rallied like crazy behind the coin and boosted its growth. And, now, Toon Finance Coin is taking the crypto world by storm. It is one of the most recent success stories in the crypto world. Toon Finance Coin, however, is a lot more than just a meme coin. It is building a decentralized exchange, player vs player battles, and, even, introducing its very own collection of NFTs.
Toon Finance Coin – the next DOGE or SHIB?
So, while Toon Finance Coin builds its DEX and trades NFTs, coins, and lots more; the bigger question remains – will it emerge as the next DOGE or SHIB? What kind of value can the Toon Finance Coin unlock in the times to come for investors, traders, and enthusiasts? To understand that we will need to look at the history of meme coins and how Toon Finance Coin is placed, in an advantageous position, to unlock true value sooner than later. And, it may well become the next DOGE or SHIB. Or, even bigger.
The DOGE Uprising
DOGE started as a joke. Inspired by a Doge meme, it is widely credited as the very first meme coin in the crypto world. It was launched in December 2013 with the face of a Shiba Inu dog on the coin. It was simply an attempt to show that crypto could be used to represent virtually anything including a meme featuring a Shiba Inu dog. When it was launched, you could practically buy thousands for less than a dollar. Naturally, people did not take it seriously. However, with time, things gradually began to change. With supporters such as Elon Musk and Snoop Dogg, DOGE has only climbed higher up the ladder and does not seem to be stopping anytime soon. And, DOGE has proved that a meme coin can also create wealth for its investors, traders, users, and enthusiasts. A classic case in point is the fact that its price hit its lowest ever of $0.0000869 in May 2015. And, just last year, it hit its all-time high of $0.688.
The amount of wealth it has created for investors is unfathomable and it has also created ripples in terms of utility. From being taken as a joke to now being accepted as a valid mode of payment in several big corporations, DOGE has certainly come a long way. And, what is most exciting about its story is how, unintentionally, it is paving way for other meme coins as well to become more than just a ‘meme.’ Elon Musk, the most vocal supporter (and, admirer) of DOGE, recently announced that Tesla would be accepting the meme coin as a form of payment for its products. Musk has, time and again, influenced the price of DOGE with just his tweets and has become the single biggest influencer in the crypto world. In fact, he has gone out and confessed that DOGE happens to be his all-time favorite coin. Snoop Dogg, another big-time crypto influencer, has also been quite vocal about his support for the DOGE coin. By simply tweeting a meme of a Shiba Inu dog, that inspired the DOGE coin, Snoop Dogg made the coin rally a staggering 55% in a single day back in February last year. Today, DOGE has a market cap of over 8 billion dollars. The success of DOGE opened the floodgates for hundreds of meme coins (or, altcoins, if you will). Floki Inu, Mona, Gaming Doge, Safe Moon, Kishu Inu, and quite a few meme coins gained immense popularity following the success of DOGE. Then came SHIB or Shiba Inu.
The Meme Coin Wave Continued with SHIB TFT
SHIB or Shiba Inu is quite a story. Created in 2020, to take on DOGE, SHIB is an Ethereum-based cryptocurrency. It features its namesake – a Shiba Inu dog, the famous Japanese hunting dog, as its mascot. Will Toon Finance surpass the Big Kitten? Popularized as the ‘Dogecoin killer’, SHIB has come a long way indeed from being worth nothing to actually creating enormous wealth for its supporters. In October 2021, just a year after being introduced, SHIB gained its all-time high market capitalization of over 40 billion dollars. The price of the meme coin has since then plummeted, as have all the other cryptocurrencies, but it still commands a market cap of around 6 billion dollars and is placed right behind DOGE.
It might as well surpass DOGE in the times to come. Even if not, it has proved how a new coin, with a little history, can challenge older, far more established coins as well. What has worked for SHIB is the massive support it has found online. The SHIB Army (the group of enthusiasts rallying behind the coin) has left no stone unturned in promoting the coin all over the internet. Also, the plethora of products, including ShibaSwap, has brought more credibility and utility to the meme coin. ShibaSwap is a DeFi platform that aims to provide the safest way to trade cryptocurrencies in a decentralized environment. The SHIBA INU ecosystem also consists of several other components such as alternate coins LEASH and BONE. This overall ecosystem is also to be credited for the success of SHIBA INU. SHIB took the meme coin race further ahead and now we have Toon Finance Coin which aims to take the meme coin game into a new generation altogether.
Toon Finance Coin is Now Taking the Crypto World by Storm
Toon Finance Coin, inspired by cute, cuddly toon characters, is the hottest meme coin right now. It is a decentralized exchange application platform designed by a team of market leaders and blockchain developers aiming to fix the externality that surrounds the P2E gaming demand by ensuring a P2E metaverse backed by SHA256 encryption. There are over 1 billion Toon Finance Coins in total, out of which, 50% are being sold in a presale that went live on 10th October 2022, and, is being subscribed like crazy by investors, traders, gamers, and enthusiasts.
Toon Finance It has slowly, but steadily, gained a lot of interest in the cryptocurrency world. Being mentioned across the media for its rising popularity and demand is not the only marker of success for Toon Finance Coin. It has also found support from people who have been rallying behind the Big Eyes coin and other meme coins in the same space. Listed on Crypto.com and CoinMarketCap.com, the coin has taken the crypto world by storm. However, what makes the project more interesting than you can imagine is the way in which it is creating an ecosystem by offering a lot more than just the coin.
TFT DOGE and SHIB Best Meme coin 2022
Well, that brings us to the big question. So, can Toon Finance Coin be the next DOGE or SHIB? Well, we believe, it is actually going to surpass the two sooner than later because of the innovative way in which it is creating its very own ecosystem. The Toon Finance Platform includes a DEX, Cross Chain Bridge, an NFT trading platform, and a lot more. Recently, the team behind Toon Finance Coin shared that they have been successfully listed on Crypto.com and CoinMarketCap.com which are some of the biggest, most influential crypto spaces out there. It brings a certain credibility to the project and has also helped bring the coin out to the masses in general. The Toon Finance Coin is creating a one of its kind robust, decentralized exchange that will seamlessly allow people to buy, sell and trade the coin in a safe, decentralized environment without any hassle. It will prove to be a game changer for the coin just as the ShibaSwap has helped SHIB grow by leaps and bounds. Similarly, a cross-chain bridge will add a lot of credibility and utility to the TFT coin. A bridge enables communication and interoperability between two separate blockchain networks. In other words, it allows for the exchange of value or data between the two connected blockchains. The Space Bridge (being created by Toon Finance) will allow its users to connect different apps, protocols, and assets with ease. So, you could actually transact on the app using both BTC and ETH by connecting them through the space bridge. For gamers, the metaverse being created holds immense value. Toon Finance is also introducing multiple series of NFTs that can be used in this metaverse as well or one can collect them for the purpose of investment. These NFTs will be functional gameplay items that will be essential for players participating in the Space Grounds game that is being developed by Toon Finance. A coin, especially a meme coin can only become valuable when it offers genuine utility to its users. Otherwise, it is nothing more than a highly speculative asset that simply moves in reaction to the news, tweets, and more. We see Toon Finance coins taking over the crypto space sooner than later because they are poised to unlock a lot of value as they can be utilized in more ways than one.
Toon Finance World – NFTs and More in the Pipeline
The Toon Finance presale is already a success. They have sold out close to $3 million in the first week itself and their presale is close to selling out soon. It is also racing up the charts as people from all over the world are rushing to get a cute, mushy little Toon Coin. Media and industry experts are raving about the Toon Finance Coin and how it can be the next big story to come out of the cryptocurrency world in the months to come. We have also been quite excited about this coin and more so for the various other things that are to come including their NFTs. The cute, little Toonie characters have won us (and thousands across the world) over and we cannot wait to get our hands on one of them. The team behind Toon Finance Coin has also announced a wide variety of tech and products that are in the pipeline and being developed quite rapidly including the space bridge, metaverse, and more. While in itself, these things will certainly offer some value, they also have the potential to grow multiple times in themselves. They could change the crypto world in the times to come. So, we are quite bullish on Toon Finance Coin becoming the next big meme coin in the crypto world. In fact, we think it will redefine a meme coin. Toon Finance / TFT Twitter / Toon Finance Telegram / Toon Finance Presale
Disclaimer: This is a press release post. Coinpedia does not endorse or is responsible for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company.
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Shiba Inu Top Facts 2022: Here are 10 great bits of dog trivia you might not know about about the loving Shiba Inu 🐶
The last two years have seen many of us welcome a new four-legged friend into our homes, as the Kennel Club saw dog ownership soar over the pandemic.But with 221 different breeds of pedigree dog to choose from, there’s plenty of thinking to do before you select your perfect pup.Those with active lifestyles might want to consider a larger dog, while somebody with allergies will be looking for a hypoallergenic dog.
There’s even academic guidance to seek out, with Psychologist Stanley Coren’s book ‘The Intelligence of Dogs’ ranking breeds by instincts, obedience, and the ability to adapt.
One dog that sometimes appears on people’s canine wishlists is the Shiba Inu – they are one of the more unusual dogs to be seen in the UK’s parks but have a range of positive attributes that make them a great household pet.
Here are 10 fun and interesting facts about the breed.
1. An ancient breed
The Shiba Inu’s ancestors are thought to have arrived in Japan with immigrant owners as long ago as 7000 BC. Archaologists have found remains of dogs that share Shiba traits in site inhabited by the Jomon-jin people, who lived from 14,500 BC to 300 AD.
Photo: Canva/Getty Images
2. A winning cross
Dog historians believe the Shiba Inu is likely the result of a cross between the Jomon-jin’s dogs and dogs that came to Japan with a new wave of immigration in around 300 BC.
Photo: Canva/Getty Images
3. Useful dogs
Originally the Shiba Inu was bred as a hunting dog – flushing and chasing small game like birds and rabbits in the mountainous areas of the Chūbu region of Japan.
Photo: Canva/Getty Images
4. What’s in a name?
The origins of the name of the Shiba Inu are a mystery – other than ‘Inu’ meaning dog in Japanese. ‘Shiba’ means brushwood in Japanese so some think it may refer to the terrain where they were bred, while others believe it could refer to the colour of the dog’s coat. Another theory is that it refers to an archaic use of shiba in Japan, when it simply meant ‘little’.
Photo: Canva/Getty Images
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Investors Sell Polygon (MATIC) and Shiba Inu (SHIB) For The Hideaways (HDWY) After it Gets 9,000% Growth Projection
What’s happening in crypto? Yesterday saw the Polygon and Shiba Inu price spike along with the wider crypto market. Polygon (MATIC) and Shiba Inu (SHIB) have not had a great 2021 despite this but the Polygon and Shiba Inu price gave investors good gains yesterday.Both projects lose out to The Hideaways (HDWY). It is the first cryptocurrency project to introduce decentralization to the property market through NFTs.. HDWY is projected to hit a 9,000% hike in 2023 after listing in major decentralized exchanges.
Polygon (MATIC)’s NFTs Sales Stalls to its Lowest in More than a Year
Investors are practicing due caution against underperforming cryptocurrencies – among them is Polygon (MATIC).
Polygon (MATIC)’s NFT sales stall at a time when Cardano (ADA)’s digital collectibles are hitting a record high. Moreover, the new NFT project The Hideaways (HDWY) sold over 60% of its presale tokens over the same period, hinting there is growing market interest in non-fungible tokens.
However, Polygon (MATIC) seems to be having it tougher than the rest. One of its most popular collections, Aavegotchi, lost 46% of its market value. Moreover, sales for the collection declined 32% over the same period.
The monthly active traders for Polygon (MATIC) NFTs on OpenSea bottomed to below 1,000 – its lowest level since July 2021.
Shiba Inu (SHIB)’s Unstable Burn Rate Poses Risk to Price
The Shiba Inu (SHIB) community monitors two important on-chain activities: whale movements and burn rate.
In the last week of September, Shiba Inu (SHIB)’s burn rate declined to its lowest level in 30 days. Meanwhile, it managed to stage a sharp comeback – surging 1,500% in the 24-hour charts where 45 million SHIB tokens had been dumped to dead wallets.
Analysts noted that this inconsistent burn rate poses risk to the price moving forward. This comes as investors would likely dismiss linking their buying and selling signals with how many tokens are eliminated over a period as it changes very fast.
Due to the volatility in Shiba Inu (SHIB)’s burning activities, investors are taking refuge in more stable projects like The Hideaways (HDWY) which possess a more stable growth pathway for clever investors.
The Hideaways (HDWY) Gets a 9,000% Price Projection from Wall Street Analyst
The Hideaways (HDWY) is getting attention lately due to its ability to connect crypto investors to luxury property investment. For the first time, a cryptocurrency project will revolutionize the way regular investors acquire properties through a decentralized platform.
The Hideaways (HDWY) will use a global team of property experts to hand pick properties for their ability to produce yield above 20%. These properties will be linked to an NFT and each NFT will be offered for sale to HDWY investors.
The HDWY project is the first of its kind in the crypto industry and has the first mover advantage – similar to Tesla and electric cars! We think this project will explode in 2023 and it’s incredible that investors are able to take part in the presale at just $0.06.
Due to its novel offering, The Hideaways (HDWY) can hit a 9,000% gain in 2023. You’re up for exponential gains if you invest while The Hideaways (HDWY) sells at $0.06. The price will rise soon, so invest now!
Website: https://www.thehideaways.io
Pre-Sale: https://ticket.thehideaways.io/register
Telegram: https://t.me/thehideawayscrypto
Twitter: https://twitter.com/hdwycryptoDisclaimer: This is a paid release. The statements, views and opinions expressed in this column are solely those of the content provider and do not necessarily represent those of Bitcoinist. Bitcoinist does not guarantee the accuracy or timeliness of information available in such content. Do your research and invest at your own risk.
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Big Eyes to be Next Ethereum-based favorite against Shiba Inu & Compound
As its presale advances, Big Eyes (BIG) looks to set the stage as a new favorite token among users on the cryptocurrency market. It will take out Ethereum-based counterparts Shiba Inu (SHIB) and Compound (COMP) in its climb to the top, as its popularity keeps increasing daily. Here’s a short review of how the tokens stand at the moment.
Shiba Inu (SHIB)
Shiba Inu (SHIB) was developed in 2020 by an anonymous developer. It was touted as the biggest memecoin in the cryptocurrency market and a major counterpart for the reigning Dogecoin. However, its progress has not been as consistent, and analysts note that it might be due to a lack of proper governance within the platform.
Shiba Inu (SHIB) exists on the Ethereum blockchain and also operates using smart contracts. The platform supports a decentralized exchange, Shibaswap, which helps users trade crypto pairs for a transaction fee. There is also an NFT incubator where users can tokenize their digital content. After converting to a DAO, the platform plans to launch a proper NFT platform in the future, which will improve the decisions made concerning the project’s future.
Shiba Inu (SHIB) is abundant, numbering about a quadrillion tokens at launch, with about half of that in circulation. The developers will probably burn the rest of the tokens to improve the token’s cryptocurrency price.
Shiba Inu (SHIB) currently sells for $0.00001 on CoinGecko.
Compound (COMP)
The Compound (COMP) platform launched in 2017 as a platform for users, featuring several token markets where they can borrow and lend tokens at different interest rates. The platform permits borrowing by any user without the need for collaterals and interest rate negotiations.
Like decentralized platforms, Compound (COMP) calculates interest rates using algorithms that read the market trends and determine the rates at which users can borrow. Lenders send their tokens to secure Ethereum smart contracts monitored by Compound, from where the borrowers receive their loans.
The platform uses two tokens: cToken, which is the currency for the platform, and COMP, which is the governing token used on the network. Borrowers receive cTokens, and lenders contribute cTokens to the platform from their respective wallets. COMP is used for voting on protocol-related decisions. Individual users could adjust their voting rights, and a reduction in COMP balances restores each user’s voting rights to default.
COMP is available on various DEXs for $. The developers release new tokens every day for use by borrowing users.
Big Eyes (BIG)
Big Eyes (BIG) is a new memecoin looking to offer more than laughs in the cryptocurrency market. The presale started in September and has been proof of its increasing popularity. The developers are not stopping there too. They hope to keep the project relevant, and a look at the existing and expected features will convince you.
So far, it has been mostly publicity and marketing for Big Eyes (BIG). The platform has pooled users from crypto projects across the crypto space to establish a community-oriented project. Right from its presale, Big Eyes (BIG) has convinced its members they will be paramount in its interests, as the developers made over 70% of the initial 200 billion tokens available for the event.
Also, in appreciation for the fantastic support the members gave during the presale, Big Eyes (BIG) will host a giveaway contest with 250,000 tokens for grabs by ten members. The winners will be selected from a draw held later in the year and will be announced by December. Eligible members must have some BIG tokens by the draw date before being selected.
The developers have created and audited Big Eyes’ (BIG) smart contracts using Solidity. They have also gotten the coin to list on exchange platforms like CoinDex and Coincheckup, and they are working on a launch with UNISWAP to achieve greater reach within the cryptocurrency market.
The presale is still on, so there is still some chance to get in the project ‘early.’ Click this link to buy your BIG tokens and stay updated with news from the development team:
Presale: https://buy.bigeyes.space/
Website: https://bigeyes.space/
Disclaimer: This article is a paid publication and does not have journalistic/ editorial involvement of Hindustan Times. Hindustan Times does not endorse/ subscribe to the contents of the article/advertisement and/or views expressed herein.
The reader is further advised that Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions.
Hindustan Times shall not in any manner, be responsible and/or liable in any manner whatsoever for all that is stated in the article and/or also with regard to the views, opinions, announcements, declarations, affirmations etc., stated/featured in same. The decision to read hereinafter is purely a matter of choice and shall be construed as an express undertaking/guarantee in favour of Hindustan Times of being absolved from any/ all potential legal action, or enforceable claims. The content may be for information and awareness purposes and does not constitute a financial advice.
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October’s Largest Whale Buys ~4 Trillion Tokens Worth $43 Million
A mysterious and unidentified Shiba Inu whale purchased nearly 4 trillion SHIB tokens worth a staggering $50 million on Thursday. The transaction can be called the biggest whale transfer recorded in October 2022 for SHIB. The anonymous address picked up 3,914,263,607,418 Shiba Inu tokens for $42,704,615.You can go through the enormous SHIB transaction details from Etherecan.io here.
Also Read: $1,000 Investment in Shiba Inu Turns Into $19 Million in October 2022
Source: Etherscan.io The identity of the whale remains to be a mystery and the reason for the large purchase is unknown. It is not known if the whale is taking an early entry position before the Shibarium documentation release.
Source: Etherscan.io The ETH-rich list has been splurging on Shiba Inu since mid-2021, and the trend didn’t slow down even during the bear markets this year. Both whales and retail investors alike believe SHIB can deliver the desired financial results in the long run. This blind faith in the token alone is what’s keeping SHIB afloat in the markets despite the harsh conditions.
Also Read: Will Shibarium Burn 100 Trillion Tokens? Shytoshi Responds
Just recently, another whale picked up nearly 166 billion SHIB tokens worth $1.87 million. You can read more details about the whale transactions in October 2022 here.
In addition, another whale moved nearly 3.3 trillion SHIB tokens on Wednesday. The exact reason for the transfer is unknown and it’s unclear whether the whale transferred or dumped the tokens. You can read more details about the 3.3 trillion SHIB token transaction here.
Also Read: Can Shiba Inu Make You A Millionaire By 2030? Here’s Your Answer
Shiba Inu: The Tale of Shibarium & Bone
Source: Pixabay Shiba Inu is attracting buying pressure as investors are keen on taking an early entry position before the Shibarium layer-2 network’s release. Shibarium’s governance token Bone outperformed SHIB in price jumping 23% this week, while Shiba Inu was up only 10%. Bone will be used as gas on the Shibarium network making it get an important use case in the ecosystem.
Therefore, both Shiba Inu and Bone are rallying in the hopes of a Shibarium documentation release. However, the tentative release date for Shibarium documentation remains to be unknown. Unification, the firm that building the L2 network confirmed in the blog post that Shibarium will be out “sometime shortly thereafter” post Q3 of 2022.
Also Read: ShibaEternity Criticized by Community, Ask For Shibarium Instead
At press time, Shiba Inu was trading at $0.00001085 and is up 4% in the 24 hours day trade. On the other hand, Bone was trading at $1.10 and is up 6.3% in the day’s trade.
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Shiba Inu (SHIB) faces profiteering near the 100 EMA!
Shiba Inu has not yet lost its charm, as this hyperactive meme coin is once again in action. The recent jump of 19% value despite the profit booking, in the end, has allowed Shiba Inu to jump one spot in its market capitalization, ranking to 14th position.The latest market cap value of Shiba Inu is $6,002,002,929, which is not the high we witnessed during the 2021 peaks, but it is moving somewhere after a decent break in strong movements. The sudden buying rallies followed by steep profit booking have become a common price trend of SHIB coins but considering the probable gains to be made in this cryptocurrency, let’s analyze its price action.
Shiba Inu has showcased a newfound resolve to break the stereotype of being a hype coin going dead. Shiba Inu has made a tremendous return with close to a 20% market gain made this week. Moving forward, the price of $0.00001090 brings Shiba Inu back to the 100 EMA curve, which could make things interesting from this point, despite some profit booking at 100 EMA. Wondering what would happen next? Read our SHIB price prediction to get a closer picture of the future price action of the coin.
From the uptrend seen in August to consolidative movement in September and now again a new attempt to move upwards, Shiba Inu has shown strong resolve in upside movement, with previous resistances having a strong say in its price volatility going ahead.The RSI indicator has already taken opportunists by storm, and so has the MACD indicator started to move with a bullish crossover. SHIB surpassed previous uptrends in just three days, which sometimes took months to achieve. The volumetric action seen is too great of a number to ignore.
Buyers might soon swarm to take a bite of this profitable-looking trade, but the sudden rally in Shiba Inu must be taken as an opportunity with huge risks. The downside from this point forward is in the vicinity of 15%, with the upside limited to just 23%; the trade-off itself seems positive at a glance.
On weekly charts, the outlook for Shiba Inu can be seen gradually shifting towards a strong upside possibility. The consolidation and negative movement of the last five months have finally been overcome with a single week’s uptrend and active buying rallies of SHIB investors.Both RSI and MACD indicators showcase a consolidation phase with huge volatility from its peak of $0.00001351 to support of $0.00000945. The next target for Shiba Inu would be $0.00001750, creating a profitable position for buyers. The outlook for SHIB buyers is about to change with a breach of consistent resistance levels.
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Are Bitcoin miners about to capitulate?
Something which is always interesting is assessing the mining activity on Bitcoin, especially in conjunction with what is happening the price and the wider market.
After all, miners are the group who receive those freshly minted bitcoins as the blockchain continues to grow. Receiving this revenue in the native coin of the network means their actions can be indicative.
Something notable is happening at the moment though. The hash rate, which means the amount of computational power being spent by the Bitcoin network – i.e. the number of miners – is rising. And it’s rising a lot.
But at the same time, price is falling.
We are printing all-time high after all-time high in hash rate. The price, however, has cratered, before trading sideways over the last few months around this $20,000 level.
This is unusual. As the chart above shows, the last time we had a violent crash – May 2021 – the hash rate fell, too. This is natural – again, the revenue of these miners is Bitcoin, so why shouldn’t mining activity drop in response to a big price drop?
Instead, the hash rate – and the difficulty of the network – remains high. Most people say this is a good thing. And they’re right – the higher the hash rate, the more secure the network. And the more secure the network, the healthier Bitcoin is.
But does this make sense? Let’s look at this from an economic perspective. Are miners not selling as much as they should be? It seems as we crab sideways following this crash, miners are not letting up. You may point towards Ethereum’s switch to proof-of-stake in September as attracting more miners to Bitcoin, but the dates don’t really line up.
Let’s check if the miners are selling (graph via arcane research).
After the capitulation in the summer, they haven’t really been selling. But could this change soon?
I wrote recently about how I believe we could be one event away from a nasty red wick for Bitcoin. In looking at the underlying mining data, I get more nervous again. Again, this is far from certain – and more a hunch – but let us check the last time we had a hash rate rising with a falling price.
Mid 2018 this happened…and it wasn’t good.
Let us zoom in a little on this time period – the above chart is a bit hectic. In peering into the 2018 window, we see exactly how this same pumping price hash rate occurred despite the falling in price. And then look what happened the price in late 2018.
So that’s worrying. And there are people pointing this out as a bearish indicator. But as anyone who follows my analysis knows, I am not exactly comfortable with extrapolating past Bitcoin cycles to today.
Yes, this happened in 2018. But look at Bitcoin back then. Had you even heard of it? Because many hadn’t – it was still a niche asset, not yet making noise in the trad-fi world. Not to mention, the macro climate is entirely different today, with us squarely in a new interest rate paradigm. A point that should never be forgotten in looking at past cycles: none of those cycles happened while we were in the midst of a wider bear market in the economy.
But at the same time, it is not merely the fact this has happened before. For me, I am just a little puzzled that the selling of miners isn’t a bit higher here, or why the hash rate is mooning so aggressively.
So, in conclusion, this indicator is not causing me to run for the SELL button. But I do like using mining data in conjunction with my wider analysis, and it is a curious happening. And as I wrote last week, I do fear that this crab motion around $20,000 could end with a red wick. It’s a psychologically important level, and once we break hard below it, there is not much resistance.
There are too many variables in the wider market that could easily go south, and Bitcoin has not given up too much since the contagionary wave of the summer – stocks have actually been worse. This underlying mining activity is not quelling those concerns, even if it is not accentuating it.
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Can Rocketize Become A Rewarding Community-Driven Token Like Shiba Inu And TRON?
The Rocketize (JATO) community, called the Atomic Nation, will be vital to this budding meme coin’s economy. Atomic Nation members who publish memes, animation, videos, podcasts, and other creative, educational content for organic engagement and marketing will be adequately compensated for their creations. -
Shiba Inu (SHIB) Up 4.78% Thursday: What’s Next?
Shiba Inu (SHIB) has been relatively average in terms of volatility when compared to other cryptocurrencies. So far Thursday, the crypto has added 4.78% to $0.00001095371602.
InvestorsObserver is giving Shiba Inu a 30 Volatility Rank. Find out what this means to you and get the rest of the rankings on Shiba Inu!Moderately Volatile
InvestorsObserver gives Shiba Inu a moderate volatility rank of 30, placing it in the bottom 30% of cryptos on the market.The Volatility Gauge tracks this makes its score defined by recent trends, rather than a bad day.
SHIB’s moderate volatility reading comes with a low reading on the Risk/Reward Gauge, meaning that the token has moderate price swings and is well protected from price manipulation.
Shiba Inu price is trading above resistance. With support at $0.000010162910319924 and resistance around $0.0000107900623959732. This leaves Shiba Inu out of range and potentially in a volatile position if the rally burns out.
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