Bitcoin is looking to trade above the $21k level for the first time this month after adding more than 7% to its value in the last 24 hours.
The cryptocurrency market has continued its excellent start to the week. Bitcoin, the world’s leading cryptocurrency by market cap, has been performing excellently over the last 24 hours.
Bitcoin has added more than 7% to its value so far today. This rally has seen Bitcoin move past the $20k psychology level for the first in two weeks.
At press time, Bitcoin is trading above $20,600 per coin. As the market continues to recover, Bitcoin could rally past the $21k level for the first time this month.
The rally comes as the broader cryptocurrency market continues its excellent start to the week. The total crypto market cap currently stands at $997 billion, up by more than 7% in the last 24 hours.
If the market continues its upward movement, the total market cap could cross the $1 trillion mark before the end of the day. Ether is trading above $1,500 for the first time this month, up by 12% in the last 24 hours.
Key levels to watch
The BTC/USD 4-hour chart is bullish, as Bitcoin has been performing well over the last 24 hours. The technical indicators show that Bitcoin is performing on par with the broader market.
The MACD line is deep within the positive zone, indicating that the bulls are now in control of the market. The 14-day RSI of 77 also shows that Bitcoin could soon enter the overbought region if the rally continues.
At press time, Bitcoin is trading at $20,604 per coin. If the bullish trend continues, Bitcoin could surge past the first major resistance level at $21,312 before the end of the day.
In the event of an extended bullish run, Bitcoin could trade above $22,600 for the first time in more than a month.
Where to buy Bitcoin now
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 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.
As per the cryptocurrency exchange Bitstamp’s announcement, trading Shiba Inu (SHIB) tokens is now possible in the United States. After the biggest European exchange began offering SHIB trading in other markets, this happened.
American users of Bitstamp will be able to exchange the well-known meme cryptocurrency for dollars and euros. Early in June, Shiba Inu was finally made tradable on the major European cryptocurrency platform.
The listing was first disclosed by the well-known trading platform in December. Fans of SHIB, however, had to wait half a year before they could trade their preferred cryptocurrency on Bitstamp due to technical issues.
Trillions of Shiba Inu swapped in the last 24 hours
11 trillion SHIB or 11,182,405,061,512 SHIB have been swapped in the last day, according to data from CoinMarketCap. After momentarily dipping to the $0.0000099 level, Shiba Inu (SHIB) has recaptured the $0.000010 level.
Shiba Inu was showing a slight boost at the time of publication, rising 5% to $0.0000105. The SHIB price dropped down to trade below this crucial level once more after hitting highs of $0.00001058 on Oct. 26 after a four-day upward trend.
On October 24, sellers drove SHIB to a low of $0.0000985. Shiba Inu is trying to establish a base at the $0.00000985 price level after prices failed to fall below it for the second day in a row today.
Before the next move, there may be range trading, since the RSI has flattened below the midway. According to CoinMarketCap data, the prices of the Shiba Inu ecosystem tokens BONE and LEASH have also seen slight gains in the last day.
Despite being down 88% from its peak, SHIB still draws a sizable number of investors. Shiba Inu currently has 1,230,068 holders, according to cryptocurrency data tracker WhaleStats, indicating that the number of SHIB holders has increased recently.
Since the beginning of 2022, the percentage of Shiba Inu “hodlers,” or addresses that have owned SHIB for more than a year, has increased from less than 4% to over 37% of holders.
37% of SHIB holders have held their SHIB for more than a year, 60% have held for less than a year, and 3% have held onto their tokens for less than a month, per IntoTheBlock’s data on holder composition by time held.
Holding cryptos while their values rise brings about outstanding returns on your initial purchase, boosting your portfolio for future trades.
Shiba Inu (SHIB), Polygon (MATIC), and Budblockz (BLUNT) are must-haves for your crypto portfolio, as they have the potential to do well.
Two cryptocurrencies that have provided outstanding returns in the past are Matic and Shiba Inu, with Shiba Inu recording a remarkable increase between its launch price to November 2021.
Budblockz (BLUNT) could follow the trend these crypto giants set as it is currently smashing through its presale stage, raising $1 million.
This guide will examine these three tokens that have the potential to boost your portfolio. Let’s begin!
Budblockz (BLUNT)
The increasing legalization of marijuana has led to the rapid growth of the cannabis industry, with an estimated global market value of more than USD 240 Billion by 2030. However, it is still an industry where businesses struggle with many banking problems. This is where BudBlockz comes in.
BudBlockz is a growing cannabis industry community and will offer asset-backed NFTs in the space. The platform will facilitate transactions related to cannabis assets in the real world and virtual landscapes while allowing NFT shares for farms, dispensaries, and more.
Also, trading BLUNT tokens and other cryptocurrencies will support consumers, investors, and business owners who need a private but secure decentralized platform to sidestep the issues associated with banking, which is still considered a controversial industry.
The BLUNT token is essential to the development of BudBlockz. With the private sale selling out before closing time and the ongoing presale phase raising over one million dollars, BudBlockz is the must-have crypto.
Shiba Inu
Shiba Inu holds the record as one of the most profitable value increases in the crypto market. For example, if you purchased $10 of Shiba Inu at the beginning of 2021, you would have become a millionaire in October 2021.
Meme tokens are known for their volatility, and Shiba Inu is not different from the rest. With the 2022 market crash, Shiba Inu followed the rest of its meme coin compatriots and toppled in price.
However, something interesting is happening with Ethereum (ETH) whales since Shiba Inu’s price has stabilized.
The most profitable cryptocurrency to purchase by Ethereum whales is Shiba Inu. One Ethereum whale purchased SHIB worth 536 billion ahead of the Ethereum merge. Most Ethereum whales still retained their SHIB even when Shiba Inu’s price dipped below the support level.
Polygon (MATIC)
Polygon is making blockchains more scalable and less congested. Its Layer-II solutions are sidechains working on a bigger blockchain to enable users to process transactions faster. With layer-II solutions, the major network will process transactions at a fast and affordable rate. Also, this will bring an influx of transactions to the ecosystem.
Polygon protocol works like its geometric name. It means a shape with a finite number of sides. Similarly, the Polygon network has numerous shapes and sizes. Polygon is an add-on to the Ethereum technology and works to improve the network.
Polygon was formerly known as Matic, but it rebranded and changed its name while retaining its ticker (MATIC). MATIC is the governance, utility, and native token of the Polygon network.
In Summary
Historically, Shiba Inu (SHIB) and Polygon (MATIC) have provided huge profits for their holders, allowing them to boost their portfolios effectively. Budblockz (BLUNT) looks to replicate this success when it launches.
Learn more about BudBlockz (BLUNT) at the links below:
Always conduct proper research when dealing with pre-sales of currencies and tokens. The information above does not constitute investment advice by CryptoMode or its team, nor does it reflect the views of the website or its staff.
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According to a study by IntoTheBlock, 22% of Shiba Inu (SHIB) holders are in profit at the moment. A whopping 77%, or 4 in 5 SHIB holders, are facing losses, while only 1% have broken even.
The data also shed light on the holding time of the Shiba Inu tokens. According to IntoTheBlock, 63% of holders purchased SHIB in the last 12 months. Shiba Inu has been falling after it attained its ATH (all-time high) in October of 2021, one year ago. Hence it is not surprising that most of the holders are at a loss.
However, most of the circulating SHIB supply, around 81% of it, is in the hands of a few. And these whales are still in the money. Nonetheless, they could tank SHIB’s price if there was a sell-off.
Will Shiba Inu rise anytime soon?
The broader crypto markets breathed a sigh of relief this morning as most major tokens witnessed a much-needed spike. Bitcoin (BTC) crossed the $20k barrier, while Ethereum (ETH) turned out to be one of the biggest gainers with a 10% surge. Shiba Inu too surged by 4.2% in the last 24 hours.
Nonetheless, the markets are still bearish. For a proper bull rally, the general market would need to change direction. Moreover, the global economic slump has further weighed down on crypto.
However, Shiba Inu has a host of launches planned for this year, which have the potential to raise the token from its slumber. The Shibarium layer-2 network is one of the most anticipated launches of the year. With it, many expect SHIB prices to rally upwards. Moreover, layer 2 might have its own burn mechanism, which would further help in pushing SHIB prices. Moreover, SHIB has enjoyed a plethora of listings this year. Just yesterday, the token was listed in the US branch of Bitstamp.
At press time, Shiba Inu (SHIB) was trading at $0.00001042, up by 2.4% in the last week.
According to information, most of the features that would be integrated into the Pawzaar platform have not yet been listed.
Crypto experts are cautioning that the current Shiba Inu and Dogecoin (DOGE) price surge might not last long as many investors anticipated.
The Shiba Inu price prediction reports claim that SHIB is a good investment. The crypto generates massive amounts of profits in 2022.
Meme coins have bee profitable for the investors but it is to be seen if Big eyes coin will overtake Shiba Inu and Dogecoin at the crypto market.
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