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Brazil Jails 14 Crypto Traders for $95M Drug Money Laundering Scheme

Michaela — Wed, 03 Dec 2025 15:22:59 +0000

Brazil’s Federal Public Prosecutor’s Office (MPF) has secured convictions against 14 individuals involved in money laundering over 508 million reais ($95 million) linked to international drug trafficking and violent crimes, with authorities noting that a large share of the illicit funds was routed through the cryptocurrency market.

According to an official statement from the MPF, the criminal network operated between April 2019 and July 2024, using a web of shell companies based in Uberlândia and linked to associates in Foz do Iguaçu to disguise funds tied to international drug trafficking and violent property crimes, including ransom-related payments. Prosecutors said the organization maintained a highly coordinated structure and, despite being rooted in Uberlândia, extended its operations across multiple Brazilian states.

Prosecutors said the group’s primary aim was to obscure the nature, source, flow, and ownership of assets generated through international drug trafficking and violent property crimes, including ransom payments linked to a kidnapping case in Rio de Janeiro.

The six shell companies involved, which claimed to operate in sectors such as food trading and cattle breeding, reportedly processed millions of dollars in transactions far beyond what their declared business activities would justify. According to investigators, these firms were operated by appointed “front men” who served to mask the organization’s true controllers.

Furthermore, prosecutors detailed a sophisticated system of concealment, noting that the organization relied on fragmented and irregular banking transactions, use of a parallel international remittance network known as “dólar-cabo,” and the transfer of substantial funds into the cryptocurrency market.

During the integration stage of the money laundering scheme, illicit proceeds were converted into high-value assets that could be reintroduced into the formal economy. These included luxury real estate in Uberlândia, high-priced aircraft and vehicles, and other financial instruments such as VGBLs and capitalization bonds. One aircraft was even registered under the name of a small swimsuit shop used as a front.

The ruling also noted that the operation involved fabricating documents to maintain the appearance of legitimate business activity, enabling the group to open bank accounts and conduct unusual financial transactions without immediate detection.

The conviction of these 14 individuals marks one of Brazil’s most significant prosecutions linking organized crime, money laundering, and cryptocurrency, spotlighting the country’s growing focus on financial crime enforcement and digital asset oversight.

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LEASH Surges Over 7%, Riding Technical Breakout, Altcoin Wave

Gushiken Yona — Fri, 18 Jul 2025 15:52:18 +0000

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Doge Killer (LEASH), a token within the Shiba Inu ecosystem, is posting significant gains Friday, fueled by a potent mix of bullish technical signals, a surging broader altcoin market, and sustained interest from major holders, known as whales.

The token jumped 7.57% over a 24-hour period, part of a wider 15% weekly gain that saw it outpace Bitcoin. The move appeared to be driven by a confluence of factors, starting with a clear technical breakout.

$LEASH: A Textbook Technical Breakout

On the charts, the Doge Killer LEASH price surge was accompanied by several key indicators lighting up. The token pushed past its 7-day and 30-day simple moving averages, historically a bullish signal.

More tellingly, its Relative Strength Index (RSI) climbed to 81.41. While a reading over 70 typically signals an asset is “overbought” and could be due for a pullback, in this context of a breakout, it confirms a wave of powerful buying pressure.

Adding to this, the MACD indicator, a measure of trend momentum, also turned positive, reflecting an acceleration of the upward move. Analysts noted immediate support for the price around the $124.10 level, with the token now testing a recent swing high of $131.39.

Riding the Altcoin Tide

The breakout for LEASH didn’t happen in a vacuum. It coincided with a clear shift in the wider crypto market. Bitcoin’s market dominance dipped from 62.19% to 60.74%, indicating that capital was flowing into other, smaller assets.

This rotation was captured vividly by the Altcoin Season Index, a metric that tracks the performance of smaller tokens against Bitcoin. The index surged a remarkable 71% over the last seven days. LEASH’s 15% weekly gain outpaced Bitcoin’s own 7.16% rise, which is typical behavior for higher-beta assets like meme coins during these “risk-on” phases.

On-Chain Data Reveals Holder Conviction, Not Whale Risk

A look at on-chain data reveals a crucial detail about the forces supporting LEASH’s price. While nearly 39% of the total supply resides in large wallets, the single largest holder is not an individual trading “whale” but rather the official xLEASH staking contract on ShibaSwap.

This contract holds LEASH on behalf of thousands of individual community members who have locked their tokens to earn rewards, signaling strong, long-term holder conviction.

This distinction is critical. Rather than suggesting a high risk of a single entity selling a large position, the significant amount of staked LEASH points to a reduced circulating supply. In tokenomics, a smaller available supply can act as a stabilizing, bullish force, as it takes less buying pressure to move the price.

There may also be lingering positive sentiment from the broader Shiba Inu ecosystem tokens. A narrative from June around Shibarium’s resilience, dubbed a “white swan” event, could still be influencing investor perception of related assets like LEASH.

With this in mind, the immediate risk for LEASH appears less tied to potential whale manipulation and more to whether the token can maintain its upward trajectory if the broader altcoin market momentum begins to fade.

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Bitcoin, A Macro Hedge, Not Hype, Says Investment Chief

Gushiken Yona — Fri, 18 Jul 2025 13:46:28 +0000

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Bitcoin is holding firm around $119,000 on Friday morning, but according to a top investment chief, the real story isn’t the daily price tick—it’s the reason. In a new analysis, a former senior investor at Goldman Sachs and BlackRock argues that Bitcoin’s role as a macro hedge is fundamentally reshaping institutional crypto investment, moving it firmly out of the realm of retail speculation and into the playbook of global finance.

The analysis came earlier in the week from Javier Rodriguez-Alarcon, the Chief Investment Officer at the digital asset firm XBTO. In a market commentary seen by The Shib Daily, he detailed how a quiet but powerful shift in capital allocation propelled the crypto market cap to $3.81 trillion.

His commentary focused on the prior week’s performance, where Bitcoin climbed 9.05% to touch an intraday high of $123,153. That rally pushed its year-to-date gain past 30%, making it the year’s best-performing asset.

By Friday, the price had settled to $119,302, up 1.15% for the day according to CoinMarketCap data. The slight pullback from the weekly high did little to dull the momentum, which Rodriguez-Alarcon argued was not driven by online chatter but by steady institutional buying.

The catalyst, he wrote, was growing fiscal anxiety. He put it plainly: “Bitcoin is behaving like a macro hedge.”

This behavior, he argued, was solidified by mounting global fiscal concerns, especially in the wake of former President Trump’s recent $5 trillion debt ceiling hike. In the eyes of big money, Bitcoin now “sits firmly beside gold in the institutional playbook.”

A Tale of Two Rallies: Ethereum Rises, Altcoins Falter

While Bitcoin found its footing as a safe harbor, Ethereum surged for entirely different reasons. Ether jumped 15.63% last week, outpacing Bitcoin.

But Rodriguez-Alarcon suggested this was a more speculative fever. “ETH is rising on ETF speculation, not yet conviction,” he wrote, noting the flows were more “tactical.”

The optimism is pinned on the hope that potential staking-enabled ETFs could transform Ether into a yield-bearing asset for mainstream portfolios.

So why are smaller tokens being left behind? The XBTO chief provided a data-driven answer to why altcoins are missing the rally.

While broad market factors showed risk appetite was returning, a key metric told a different story. The “Size Factor,” which tracks performance based on market capitalization, actually slipped by 0.28%.

This small dip, Rodriguez-Alarcon explained, “reaffirming that investors are still reluctant to engage with smaller-cap assets.” The big money, it seems, is sticking to the big names.

All Eyes on Washington

With the market’s internal dynamics set, the focus now turns outward. “U.S. policy is the next big catalyst,” Rodriguez-Alarcon said. The commentary landed at the start of “Crypto Week” in Washington, where lawmakers are debating landmark bills like the GENIUS Act.

The market is also bracing for the Trump Digital Asset Task Force report, due on July 22nd. Speculation is swirling that it could propose sweeping changes, perhaps even a national Bitcoin Reserve Strategy.

That will be followed by the Federal Reserve’s meeting on July 30th. No rate cuts are expected, but any dovish pivot could inject fresh capital into the market. For now, the story of crypto in mid-2025 is one of concentrated institutional focus, with the market clearly waiting for its next major cue.

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Shiba Inu Price Prediction Sees SHIB Surging ‘Nearly 180%’

Gushiken Yona — Tue, 08 Jul 2025 16:38:25 +0000

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On crypto trading charts, a faint technical signal is prompting one analyst to issue a new Shiba Inu price prediction. Pointing to a ‘bullish divergence,’ he forecasts a nearly 180% price surge for the popular meme coin—a projection that, right now, pits the dry logic of market analysis against the wild, unpredictable energy of internet culture.

The forecast that caught fire across social media came from Javon Marks, a crypto analyst who shares his chart readings online. “$SHIB (Shiba Inu) has confirmed a clear Bullish Divergence with its MACD,” he wrote in a post accompanying his analysis.

This technical event, he claimed, “points to a nearly 180% upside for prices back to $0.000032.” In plain terms, while the coin’s price was falling, a key momentum indicator was trending up—a classic signal that selling pressure might be exhausted.

The analyst even suggested the move could be part of a bigger trend, adding that the rally “may only be the start of a much larger positive reversal.” For SHIB’s large and loyal community of holders, often called the “SHIB Army,” this was potent news.

They have weathered a long and brutal crypto winter that erased a massive portion of the token’s peak 2021 value, and here was a specific, data-backed reason for optimism.

What’s Behind This Shiba Inu Price Prediction?

But making any Shiba Inu price prediction has always been a shaky business. The token wasn’t born in a boardroom; it was created as a self-proclaimed “Dogecoin killer,” an experiment in decentralized community building that exploded into a global phenomenon.

Its historic, eye-watering ascent had almost nothing to do with technical fundamentals and everything to do with hype, viral marketing, and a tidal wave of retail investors hoping to catch lightning in a bottle.

This history is precisely why many market veterans treat such forecasts with a heavy dose of skepticism. Technical analysis works best in markets driven by established patterns of buying and selling.

Meme coins, however, operate on a different fuel source. Their prices can pivot entirely on a single Elon Musk tweet, a new internet meme, or a sudden shift in the collective mood of online forums. A perfectly formed bullish divergence could mean little if the culture moves on.

Ultimately, the current situation is a fascinating test case. It places the methodical, data-driven world of trading against the chaotic, sentiment-driven reality of a meme coin.

For those still holding SHIB, it’s a tangible reason for hope. For everyone else, it’s a ringside seat to a battle between the chart and the crowd.

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ShibaSwap 2.0 Makes Earning Easier: Claim Rewards Without Withdrawing Liquidity

Gushiken Yona — Wed, 11 Jun 2025 21:07:44 +0000

Singapore’s Startup Ecosystem: A Global Model for Innovation and Growth

Anndy Lian — Fri, 06 Jun 2025 12:49:00 +0000

At the “Policy Ecosystem Development for Startups” event in Mongolia, organized by the Mongolian Ministry of Economy and Development, the Asian Productivity Organization, and the Mongolian Productivity Organization, representatives from over ten countries gathered to discuss strategies for fostering startup ecosystems.

I had the opportunity to deliver a session titled “Singapore’s Model for Startup Ecosystem,” sharing how Singapore evolved from a colonial trading post into a global innovation hub through strategic policies, robust infrastructure, and international collaborations. This article summarizes the key points from my presentation, offering an objective overview of Singapore’s startup success story.

Singapore’s Journey to a Global Innovation Hub

In my remarks, I traced Singapore’s transformation from a 19th-century trading port to a leading startup hub. This shift was driven by deliberate government policies, a strategic location in Asia, and a commitment to innovation. With a startup ecosystem valued at approximately SGD 1.44 billion, Singapore leverages its multilingual workforce and robust financial sector to attract entrepreneurs and investors. “Singapore’s strength lies in its location, diverse talent pool, and strong financial infrastructure,” I noted during the session.

The city-state hosts over 4,500 tech startups, more than 400 venture capital (VC) firms, and 240 incubators and accelerators, creating a comprehensive ecosystem that supports startups at every stage. Nearly all major global VC funds have a presence in Singapore, either through Asian offices or dedicated subdivisions, particularly in sectors like fintech, healthcare, and deep tech.

Government Initiatives: The Foundation of Success

Singapore’s government plays a central role in its startup ecosystem through initiatives like Startup SG and the Smart Nation vision. Startup SG, launched in 2017, provides mentorship, grants, and networking opportunities to foster entrepreneurial growth. “The networking opportunities provided by Startup SG are critical for startup success,” I emphasized, highlighting how these connections have driven achievements in the VC space. Since 2015, the government has invested over SGD 1 billion in startup programs, supporting more than 2,000 startups annually across sectors like fintech, healthcare, and sustainability. The Startup SG Founder Grant offers up to SGD 50,000 and mentorship to first-time entrepreneurs, while Startup SG Equity co-invests up to SGD 8 million with private VCs in high-growth startups. Ninja Van, a logistics provider, scaled rapidly with SG Equity funding, serving as a prime example of these initiatives’ impact.

The Smart Nation initiative integrates technology into areas like the Internet of Things (IoT) and artificial intelligence (AI). Singapore’s small size enables rapid implementation of innovative solutions, making it an ideal testbed for smart urban technologies. As I noted, “Singapore’s compact scale allows for quick testing and iteration of new ideas,” positioning the city-state as a leader in smart urban living.

Historical Milestones and Growth Phases

My presentation provided a historical perspective on Singapore’s commitment to innovation. The National Computer Board (NCB), established in 1981, laid the groundwork for technological development, followed by companies like Creative Technology, a pioneer in MP3 players and speakers. By 2000, the Economic Development Board (EDB) launched a bioscience initiative, attracting SGD 2 billion in startup investments. The National Research Foundation, established in 2006, further strengthened research and development (R&D), supporting innovators like Hyflux, a leader in water refinery technology

From 2010 to 2015, startup funding grew from USD 80 million to USD 1 billion, driven by government support and global interest. Lazada, founded in 2012, capitalized on Singapore’s logistical advantages to become a leading e-commerce platform in Southeast Asia. By 2017, the ecosystem’s value reached USD 11 billion, with companies like Grab achieving unicorn status in Singapore and expanding into markets like Cambodia, Malaysia, and Thailand while diversifying into financial tools and cryptocurrency payments.

Attracting Global Talent and Partnerships

Singapore’s ability to attract global talent and foster international collaborations strengthens its ecosystem. Over 150,000 foreign professionals work in Singapore, with 29% in the tech sector, contributing diverse expertise. Programs like the TechPass (launched in 2021) and EntrePass offer visas to top talent and entrepreneurs, with approval rates for tech roles reaching 90%. “Talent is a cornerstone of Singapore’s economic growth,” I observed, highlighting the government’s strategic focus on human capital.

Collaborations with institutions like MIT, Tsinghua University, and the Israel Innovation Authority have driven advancements in AI, cybersecurity, and deep tech. The Singapore-Israel Innovation Summit in 2022 facilitated cross-border exchanges, while partnerships with the World Bank, DBS, and the United Nations on fintech projects, as well as collaborations with France on autonomous systems, underscore Singapore’s global integration.

Singapore’s pro-business regulatory framework is a key enabler of its startup ecosystem. Company registration can be completed in one to two days, and the city-state ranks highly for its strong legal framework and business-friendly policies. The Monetary Authority of Singapore (MAS) supports innovation through a fintech sandbox, allowing startups to test solutions with regulatory guidance. Compliance workshops and a trusted reputation ensure accountability while fostering innovation, making Singapore a preferred destination for crypto and fintech companies.

Success Stories and Future Outlook

My presentation highlighted success stories that illustrate Singapore’s impact. Carousell, a marketplace platform, grew from a modest valuation to unicorn status with support from Singaporean funds and government initiatives. ShopBack’s cashback model and Grab’s expansion into financial services demonstrate the scalability of Singapore-based startups. Over 40% of Singapore’s unicorn founders have international backgrounds, reflecting the city-state’s ability to attract and nurture global talent.

Looking ahead, fintech, healthcare, deep tech, AI, cryptocurrency, and green tech are poised for growth. Singapore’s consistent VC funding—over USD 12 billion in recent years—and its ranking as the fifth-best startup ecosystem globally position it for continued leadership. As I concluded, “Singapore’s ecosystem empowers entrepreneurs to turn bold ideas into reality,” encouraging global innovators to explore its opportunities.

Conclusion

My session at the Mongolia event outlined Singapore’s startup ecosystem, driven by strategic government initiatives, a robust financial sector, and global collaboration. From its historical roots to its status as a top-five global startup hub, Singapore offers a model for fostering innovation through talent attraction, regulatory support, and international partnerships. With success stories like Carousell, Grab, and Ninja Van, and a focus on emerging technologies, Singapore continues to serve as a launchpad for startups aiming to make a global impact.

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Shiba Inu Price Could Soar 503% in Massive Breakout

Gushiken Yona — Tue, 03 Jun 2025 10:53:15 +0000

Shiba Inu price may be on the verge of a breakout that could send it soaring over 500%, according to one technical analyst.

This optimistic forecast for the Shiba Inu price hinges on what’s known in technical trading circles as an “Inverse Head and Shoulders” pattern. Such formations are typically viewed by chart analysts as indicators of a potential trend reversal from bearish to bullish. According to the analyst, identified on X (formerly Twitter) as @JavonTM1, Shiba Inu appears to be in the final stages of this pattern.

Technical Pattern Fuels Bullish Shiba Inu Price Outlook

In a recent post, the analyst elaborated on this view. “@JavonTM1 stated: ‘As $SHIB (Shiba Inu) continues to hold in a huge Inverse Head & Shoulders Pattern and in there last phases of it, these prices can be GETTING READY TO RUN and it could consist of an over 503% upside to our first target at $0.000081!'”

The chart shared by JavonTM1 illustrates Shiba Inu’s price action over an extended period. It delineates the components of the inverse head and shoulders: a first trough (the left shoulder), followed by a deeper trough (the head), and then a third, shallower trough (the right shoulder). A “neckline” is typically drawn connecting the peaks between these troughs. A decisive break above this neckline, on significant volume, is what traders watching this pattern look for as confirmation of a potential bullish breakout.

credit: JAVONMARKS

If this pattern plays out as JavonTM1 anticipates, the projected 503% increase would push the Shiba Inu price to $0.000081. This target is derived by measuring the distance from the bottom of the “head” to the neckline and then projecting that distance upward from the breakout point. For those tracking the Shiba Inu price, such a move would represent a substantial return from its current levels.

Context and Caution in Shiba Inu Price Analysis

However, it’s important to note the context. Technical analysis, while a widely used tool in financial markets, offers probabilities, not certainties. The crypto market, and particularly meme coins like Shiba Inu, are known for their volatility. Prices can be influenced by a wide range of factors beyond chart patterns, including broader market sentiment, news events, and shifts in speculative interest.

Investors often look for multiple confluences of signals before making decisions. While the identified pattern suggests a bullish case for the Shiba Inu price, the outcome will depend on whether the conditions for the pattern’s completion and subsequent breakout are met in the coming weeks and months.

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Crypto Market Concentration Deepens as Big Money Chooses Its Bets

Gushiken Yona — Tue, 03 Jun 2025 10:43:50 +0000

Ethereum’s price jumped nearly 50% this past month. That kind of surge usually whispers of a bull market warming up across the board.

But a closer look at the digital asset landscape suggests something different. Big money, the kind that moves markets, isn’t spreading its bets wide.

Instead, it’s zeroing in on a few familiar names. This growing crypto market concentration is reshaping investment patterns, according to a new market analysis.

Javier Rodriguez-Alarcon, chief investment officer at XBTO, a global digital asset firm, sees a shift. He brings a background from traditional finance giants like Goldman Sachs, BlackRock, and Barclays to the crypto world.

He believes the recent Ethereum rally isn’t just hopeful retail investors piling in. “Ethereum’s rally isn’t just a retail bounce,” Rodriguez-Alarcon said in a note shared with The Shib Daily.

“It’s a direct response to structural access points like ETFs opening up.” He pointed to a $110 million inflow into these products mid-week as evidence that institutional demand is “finally materializing through familiar channels.”

Bitcoin, too, has seen its own drama. Recent price dips weren’t a sign of collapse, Rodriguez-Alarcon argued.

Instead, “Bitcoin’s pullback was a healthy flush.” He explained that two sharp sell-offs cleared out excessive borrowing.

And then, long-term investors stepped in. Their holdings climbed past $28 billion. “That’s conviction, not retreat,” he said.

Crypto Market Concentration: Big Money’s Narrow Focus

This conviction, however, appears highly selective, leading to the current crypto market concentration. “We’re seeing a concentration of conviction,” Rodriguez-Alarcon stated.

He noted that just six digital tokens now make up 90% of a key market index. Bitcoin alone accounts for a hefty 71% of that.

It’s a sign, he believes, that investors are maturing. “Capital is no longer chasing narratives,” he said. “It’s being deployed where infrastructure exists.”

Traditional Market Echoes in Crypto Shifts

The market is also starting to react more like traditional financial markets as these larger assets gain prominence. Big economic news now sends ripples through crypto. Rodriguez-Alarcon mentioned a recent tariff scare and the subsequent policy reversal.

These events “had a clear ripple effect, confirming Bitcoin’s growing integration into broader financial markets,” he said. But this focused interest means not everyone is invited to the party.

Smaller, less established tokens are finding themselves on the sidelines. “This isn’t a rising tide moment for the market,” Rodriguez-Alarcon cautioned.

While momentum is strong for the big players, “small-cap tokens are being left behind.” The reasons? Investors are increasingly prioritizing assets with clear regulatory standing and deep pools of liquidity.

This narrows their focus, further cementing the trend of crypto market concentration and leaving the rest to wait.

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Shiba Inu Price Breaks Out—Trader Reveals Potential Big Profit Setup

Gushiken Yona — Mon, 02 Jun 2025 11:14:00 +0000

The Shiba Inu price is capturing keen market attention Monday as it inches higher, a movement one crypto trader is aggressively interpreting as a full-blown “waking up,” simultaneously unveiling what they describe as a “potential big profit setup.”

According to CoinMarketCap data around 4:01 a.m. Eastern Time, SHIB was trading at $0.00001281. This price reflected an increase of 0.23% over the preceding 24 hours, a marginal gain in the volatile crypto markets.

credit: CoinMarketCap

The token’s market capitalization stood at approximately $7.55 billion, with a 24-hour trading volume of $135.89 million. Against this backdrop of slight gains, crypto trader Amir Rajpoot BnB issued a notably bullish “SHIB/USDT Trade Alert!” to his followers, a common practice among crypto traders aiming to highlight perceived short-term opportunities.

Trader Details Ambitious Targets for Shiba Inu Price

In his alert, Rajpoot declared, “ Reversal signs are flashing GREEN! ” He cited a “ Current Price: 0.00001273” at the time of his analysis and pointed to a “ Recent Dip: 0.00001225 (Possible bottom!).”

Rajpoot then laid out a specific “ Trade Setup,” advising a “ Buy Zone: 0.00001260 – 0.00001275.” His “ Take Profit Targets” for the Shiba Inu price were listed as: “• TP1: 0.00001321 • TP2: 0.00001374 • TP3: 0.00001428 .” To manage risk, he suggested a “ Stop Loss: Below 0.00001225 (Play it safe!) .”

credit: AmirRajpootBnB

The rationale underpinning this optimistic call, as stated by Rajpoot, included a “ Strong bounce from support,” observations of a “ Bullish structure forming ,” and what he termed “ Solid risk/reward potential .”

Market Indicators Offer Sober Context for Shiba Inu

While such specific trade setups and bullish pronouncements generate excitement within certain trading communities, objective chart analysis shows the Shiba Inu price continuing to navigate below some key longer-term moving averages. The recent 24-hour trading volume, while substantial, does not immediately indicate the sort of surge typically associated with a confirmed, major breakout as suggested by the headline.

The current market situation presents a contrast: a slight actual price increase for SHIB alongside a trader’s strong conviction of a significant upward move and profit opportunity. Whether Shiba Inu follows this more aggressive bullish path or continues its pattern of modest fluctuations and consolidation will likely depend on broader market sentiment and a sustained increase in buying pressure.

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Shiba Inu Price Dip? Discover Its Shocking Hidden Strength

Gushiken Yona — Fri, 30 May 2025 13:24:53 +0000

Despite the dip, the Shiba Inu price is showing signs of strategic whale accumulation and loyal community engagement, painting a deeper, more resilient on-chain picture.

The Shiba Inu price charts may flash red, but beneath the surface, the blockchain tells a different story — one of calculated moves and committed support. While short-term market noise often dominates headlines, on-chain data from IntoTheBlock reveals a surprisingly bullish foundation, driven by smart money and steady user activity.

Whale Moves Signal Long-Term Strength in Shiba Inu Price

One of the clearest signals of institutional or high-net-worth investor interest lies in large transaction volume — and SHIB is seeing plenty. Data from IntoTheBlock shows an impressive $29.54 million in large transaction volume, making up 57.34% of total volume.

credit: intotheblock

In the last 24 hours, whales moved 2.11 trillion SHIB, with a 7-day peak hitting 2.98 trillion SHIB on May 23. While to some these seemed like casual trades — they’re likely strategic reallocations, accumulation during a dip, or preparations for participation in DeFi protocols within the Shiba Inu ecosystem.

While the intent isn’t clear it reflects that major holders are still very much in the game.

Shiba Inu Price Action Backed by Daily Activity and Resilient Holders

While whales make waves, the ShibArmy’s daily engagement continues to shine. The network has recorded 3,160 daily active addresses, reflecting a 4.74% increase — a sign that despite price volatility, users are transacting, building, and engaging.

This daily interaction is an evidence of a living, breathing ecosystem, one that isn’t solely driven by hype but by real usage and community participation.

Holder Resilience: Nearly $723M Still in Profit

A deeper dive into holder metrics shows remarkable durability. Roughly 41.36% of SHIB-holding addresses, or about 594,900 wallets, are still ‘in the money’, having acquired their tokens at a lower average price than current levels.

These profitable wallets collectively hold 54.36 trillion SHIB, worth around $722.8 million — roughly 5.52% of SHIB’s circulating supply. These long-term holders are less likely to panic sell, often acting as a stabilizing force when sentiment weakens.

Strong Foundations Beneath the Volatility

While the market may fixate on short-term price movement, Shiba Inu’s on-chain reality suggests a stronger, more strategic phase unfolding quietly. Between whale-level accumulation and a community that refuses to slow down, the Shiba Inu ecosystem continues to evolve — and build.

As the Shiba Inu team gears up for future milestones, from Shibarium expansions to the anticipated future developments, the current lull could very well be the calm before another surge.

The post Shiba Inu Price Dip? Discover Its Shocking Hidden Strength first appeared on The Shib Daily.

Bone Price Surge? Bulls Bet on Big Rally

Gushiken Yona — Thu, 29 May 2025 11:19:51 +0000

The Bone price sits at a crossroads this Thursday, showing signs of calm on the surface even as bullish sentiment swells among supporters.

At 3:55 a.m. ET, BONE traded at $0.3036, up 2.09% in 24 hours. The move added early fuel to the fire for believers in a broader rally—particularly those watching the token’s role within the Shiba Inu ecosystem.

BONE, the gas token for Shibarium and central to the ShibaSwap decentralized exchange, saw its market cap climb to $69.77 million—a 1.79% daily increase. Its 24-hour trading volume rose to $8.34 million, up 4.15%, hinting at growing trader interest. While longer-term monthly gains have been modest, the recent uptick could signal a momentum shift.

Decoding the Bone Price Technical Landscape

Thursday’s daily chart of Bone ShibaSwap (BONE/USDT) reveals a token emerging from a stretch of turbulence. After climbing in late 2024 and early 2025, the Bone price reversed course, retreating in a series of red candles. Recently, it’s entered a consolidation phase, with sideways movement suggesting a standoff between buyers and sellers—a classic setup for a breakout.

Below the price candles, the Relative Strength Index (RSI) offered more nuance. As of Wednesday’s close, the 14-day RSI hovered around 45–46—neutral territory, just below the 50 midline traders often view as the boundary between bullish and bearish control.

The RSI showed a gentle upward slope, hinting at renewed buying pressure. But without a clean break above 50, bulls haven’t quite seized momentum.

Further down the chart, daily volume bars echoed the indecision. While historic price moves were accompanied by heavy volume, recent sessions have been quieter. Still, the latest $8.34 million in 24-hour volume suggests activity may be picking back up.

Bone Price Optimism: A Community United

Technical signals may be mixed, but sentiment isn’t. A striking 85% of nearly 80,000 voters in a CoinMarketCap poll expressed bullish views on BONE. It’s a familiar setup—community enthusiasm building ahead of chart confirmation.

Many see BONE as a sleeper asset in the Shiba Inu ecosystem, tied tightly to Shibarium’s growth. If buying interest continues and indicators like RSI and volume break key thresholds, the long-anticipated rally might not be far off.

For now, the slight daily gain adds a layer of intrigue to a token perched on the edge of movement—its direction soon to be decided.

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Shiba Inu Price: Critical Chart Now Unlocks Potential Big Surge

Gushiken Yona — Thu, 29 May 2025 11:08:56 +0000

The Shiba Inu price teeters on a knife’s edge this week, as a critical chart pattern signals the digital coin might be about to break free from its slumber. A crypto analyst sees this setup as a tightly wound spring, potentially unlocking a significant, double-digit surge for the popular cryptocurrency, grabbing market attention.

Shiba Inu ($SHIB) recently exhibited what chartists called a descending triangle, a formation that spoke of growing tension between buyers and sellers. This observation, highlighted by market analyst Ali Martinez (@ali_charts on X), suggested the Shiba Inu price could be gearing for a move of roughly 17%.

Dissecting the Shiba Inu Price Pressure Cooker

The pattern involved two key lines on the Shiba Inu price chart. One sloped downwards, connecting progressively lower price peaks, acting as a descending ceiling.

Beneath it, another line ran almost flat, a sturdy floor around the $0.00001413 mark on Coinbase’s 4-hour chart. This floor showed where buyers had consistently drawn a line. As these lines converged, they squeezed the Shiba Inu price into an ever-tighter range.

credit: Ali

This was the “consolidation” the crypto analyst referred to, a common prelude to a decisive, volatile shift. Pressure had built, and the price was expected to either burst upwards through resistance or crack downwards below support. The analyst’s post read: “#ShibaInu $SHIB consolidates within a triangle, awaiting a 17% price move!”

Gauging the Breakout’s Direction

A snapshot from earlier this week placed the Shiba Inu price near $0.00001461. A 17% upward thrust from that level, if the breakout had favored bulls, could have propelled the Shiba Inu price towards the $0.00001710 vicinity – the “potential big surge” alluded to in the headline. This prospect undoubtedly excited the coin’s followers.

However, understanding the dual nature of such patterns was crucial. While the headline captured optimistic potential, descending triangles often resolved with a downside break.

If the $0.00001413 floor fails, a 17% drop could send the Shiba Inu price tumbling towards $0.00001210. The key for traders wasn’t just the pattern, but the breakout’s direction when it occurred, ideally confirmed by increased trading volume.

The Shiba Inu price, known for drama and rapid movements, had seen such standoffs before. That period of tight trading was likely one of intense focus.

The subsequent days were poised to reveal whether the formation would indeed unlock a surge, or if a more bearish chapter was to be written for the Shiba Inu price. The market holds its breath, the chart lines drawing a silent story of forces then in equilibrium, just before one side inevitably gained the upper hand.

The post Shiba Inu Price: Critical Chart Now Unlocks Potential Big Surge first appeared on The Shib Daily.

Shiba Inu Price: Bullish Signal Points to ~105% ‘Additional Recovery’

Gushiken Yona — Mon, 12 May 2025 11:34:52 +0000

The Shiba Inu price, a subject of much online discussion, is drawing fresh attention from market analysts. One such observer, citing technical chart patterns, suggests the popular meme-inspired cryptocurrency might be poised for a significant upward move, potentially more than doubling from its recent recovery.

Shiba Inu, often traded under the symbol SHIB, has shown a recent burst of activity, climbing nearly 30 percent in the past few days. This rebound has not gone unnoticed.

Javon Marks (@JavonTM1 on X), a crypto analyst who shares his findings on the social media platform, commented on this development. “$SHIB (Shiba Inu)’s been showing some notable strength, recovering nearly +30% in the past few days but this could be only a beginning!” he posted.

Chart Analysis Fuels Shiba Inu Price Optimism

The basis for the crypto analyst’s notably optimistic forecast lies in his interpretation of Shiba Inu’s price chart. He shared a chart that, in his view, outlines a potential path upward.

The main portion of this chart depicts Shiba Inu’s price using candlestick formations, illustrating a period of decline – a trend common across many digital assets recently. The crypto analyst emphasized this with a downward-sloping red trendline drawn beneath a series of diminishing price peaks.

The analysis becomes more pointed when considering a secondary graph displayed below the price chart. This graph tracks a momentum indicator, likely the Relative Strength Index (RSI), a tool traders use to assess whether an asset might be overbought or oversold. On this indicator, Marks highlighted an upward-sloping red trendline, connecting a pattern of increasingly higher lows.

This particular condition – where an asset’s price trends downwards or records lower lows while a corresponding momentum indicator forms higher lows – is known in technical analysis as a bullish divergence. Analysts often interpret such divergences as a sign that downward selling pressure could be waning, potentially heralding an upward price reversal.

It is this divergence that underpins the crypto analyst’s specific projection. He noted it was “hinting at an at-least 105% additional recovery.” Such a gain, were it to materialize, would represent a substantial shift in the token’s recent performance.

He further identified a “breakout target that stands at $0.000081.” This price level is considerably higher than Shiba Inu’s recent trading range.

Should SHIB reach this $0.000081 mark, Marks suggested, its price could effectively “quadruple.” Technical analysts frequently derive such price targets from historical price formations, including previous peaks and troughs, or by measuring the extent of prior significant price movements.

The chart shared by Marks included a hand-drawn curved arrow pointing steeply upwards, visually reinforcing his anticipated trajectory.

A Volatile Asset in a Speculative Market

Despite the technical arguments, Shiba Inu remains an asset class known for its pronounced volatility. Its price history is characterized by dramatic ascents and equally sharp declines, often influenced by broader sentiment within the cryptocurrency market and trends on social media platforms.

While Marks presents a detailed technical case for a significant appreciation in the Shiba Inu price, forecasts within the cryptocurrency sector are inherently speculative.

The recent nearly 30% gain is a factual data point, but whether it signals the start of a more sustained rally, as suggested by this analysis, remains to be seen. Investors generally approach such predictions with considerable caution.

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Shiba Inu Price Eyes 26% Surge as Chart Pattern Signals Breakout

Gushiken Yona — Thu, 01 May 2025 17:10:39 +0000

The action of Shiba Inu price action is stirring the charts, with a crypto analyst pointing to a bullish breakout that could catapult the token 26% higher — if the wedge pattern plays out.

Analyst Eyes Shiba Inu Price Pattern

The forecast originates from a crypto trader known online as SHIB KNIGHT. Posting on X (formerly Twitter), the analyst shared the Shiba Inu price chart against the stablecoin Tether (USDT). The chart highlighted a specific technical formation known as a “falling wedge.”

This pattern occurs when an asset’s price bounces between two downward-sloping trend lines that are gradually converging. Some traders interpret a decisive move above the upper trend line – a “breakout” – as a signal that the preceding downtrend might be reversing, potentially leading to higher prices.

credit: $SHIB KNIGHT

Based on this interpretation, the crypto trader projected a target price near $0.000017 if the breakout occurs. At the time the analysis was shared, the Shiba Inu price was hovering near the potential breakout point around $0.00001335. Reaching the $0.000017 target would represent approximately a 26% gain from that level.

The analyst’s chart also marked key price levels to watch. Potential support levels, where buying might emerge to slow or stop a price decline, were indicated near $0.00001320 and $0.00001279. Conversely, possible resistance levels on the way up, where selling pressure could intensify, were noted around $0.00001494 and $0.00001574, below the main $0.000017 target.

Market participants often use technical analysis like this to identify potential trading opportunities and manage risk. However, these patterns are not guarantees of future performance. The Shiba Inu price is notoriously volatile and subject to influences beyond chart formations, including overall market sentiment and online trends. The analysis by SHIB KNIGHT represents one interpretation of the current technical setup.

Recent Market Movement Supports Bullish Outlook

Adding context to the technical analysis, Shiba Inu demonstrated positive price movement in recent trading. As of 12:02 p.m. Eastern Time on Thursday, the token was trading at $0.00001364.

Data from CoinMarketCap indicated this price represented a notable 4.54% increase over the previous 24 hours. This short-term gain built upon slight increases over longer periods, with the price up 0.97% over the last seven days and showing a 4.58% rise compared to 30 days prior.

Trading activity over the 24-hour window saw $162.97 million worth of Shiba Inu exchanged. Reflecting the day’s gains, the token’s total market capitalization reached $8.04 billion, also up 4.54% in the period. This recent market behavior provides a backdrop for analysts watching for potential continuation signaled by chart patterns.

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Shiba Inu Price Eyes $0.00003000 Resistance Amid Bitcoin Surge

Gushiken Yona — Mon, 28 Apr 2025 14:10:24 +0000

The Shiba Inu price is poised to test a critical resistance level near $0.00003000, driven by Bitcoin’s potential strength in the market. As Bitcoin shows signs of upward momentum, an analyst predicts that SHIB could rally toward this key mark, signaling a possible turning point.

Analyst Charts Potential Path for Shiba Inu Price

This optimistic outlook comes from a technical analysis shared on the platform X by market watcher StrongHedge. The forecast hinges significantly on Bitcoin, the crypto market’s leader, continuing its own upward push.

“Running with $BTC leg up – expecting a LH into 3000 tops,” the analyst wrote, suggesting Shiba Inu could ride Bitcoin’s coattails. The target, $0.00003000, isn’t just a round number.

According to the chart provided by the market watcher, this level represents a confluence of potential barriers for the Shiba Inu price. It aligns with a horizontal resistance area where selling pressure previously halted advances.

credit: StrongHedge

It also sits near a descending trendline that has capped major rallies since April 2024. The analyst marked this intersection with an ‘X’, highlighting it as a likely area of significant resistance or a potential peak for this anticipated move.

The chart also shows the Shiba Inu price recently finding stability around the $0.00001241 to $0.00001365 support zone. This area is situated above a broader range labeled “Accumulation,” where SHIB traded sideways for much of late 2024 and early 2025 before its last major surge.

However, the analyst also noted the expectation is for a “lower high” (LH). This implies that even if SHIB reaches the $0.00003000 target, it would still be below the higher peaks seen earlier in 2024, suggesting the longer-term downtrend might remain intact.

While analysts speculate on future price levels, the immediate market picture on Monday morning offered its own insights.

Shiba Inu Trading Volume Jumps Significantly Despite Modest Price Gains

Shiba Inu demonstrated continued positive market activity during mid-morning trading, though the standout metric was a sharp increase in trading volume. As of 8:24 a.m. ET, the popular dog-themed cryptocurrency traded at $0.00001382. This represented a relatively modest 1.30% increase on the day.

What caught traders’ attention, however, was the significant surge in market participation. Shiba Inu’s 24-hour trading volume experienced a substantial 18.16% jump, reaching $208.82 million.

Such a pronounced increase in volume, especially accompanying even slight price gains, often signals heightened interest. It suggests more capital is flowing through the asset, potentially laying the groundwork for more significant price moves or indicating active position-taking by market participants.

Reflecting the slight price increase, SHIB’s total market capitalization also edged higher, rising by 1.43% to settle at $8.15 billion.

The post Shiba Inu Price Eyes $0.00003000 Resistance Amid Bitcoin Surge first appeared on The Shib Daily.

Bone Price Shows Positive Momentum Amid Strong Community Backing

Gushiken Yona — Tue, 22 Apr 2025 08:59:52 +0000

The Bone price jumped nearly 12% over the past week, fueled by rising trade volumes and strong community optimism, even as the technical chart suggests its momentum is still building, not yet reaching a fever pitch.

Bone Price Climbs: Latest Data Update

As of 4:02 a.m. ET on Tuesday, the Bone price registered at $0.2765, according to CoinMarketCap data. This marks a significant 13.11% increase over the preceding seven days.

Underscoring this positive momentum, the 24-hour trading volume hit $5.16 million, representing a 24.54% surge compared to the same period last week, suggesting heightened trader interest accompanies the price climb. With a circulating supply reported at 229.92 million BONE, this places Bone ShibaSwap’s current market capitalization at approximately $63.64 million.

credit: CoinMarketCap

Technical Indicators Suggest Recovery

A look at the daily BONE/USDT chart provides technical context. The Relative Strength Index (RSI), a common momentum indicator, currently sits around 50.63.

The RSI measures the speed and change of price movements, oscillating between 0 and 100. Readings above 70 typically suggest an asset might be overbought, while readings below 30 can indicate oversold conditions.

BONE’s current RSI level near 50 places it firmly in neutral territory. While it shows an upward trajectory from lower levels seen previously on the chart (indicating recovering momentum), it remains far from the overbought zone.

The chart shows historical instances where BONE’s RSI surged well above 70 during significant price peaks (like those seen around August 2023 and March 2024), suggesting that current momentum, while positive, hasn’t reached potentially unsustainable extremes.

Community Backs Bone Price Amid Market Cap Dip

The recent positive price action aligns with overwhelmingly bullish community sentiment. Data from CoinMarketCap indicates that 85% of nearly 77,200 user votes expressed a positive outlook for BONE.

Holder data reveals a pattern common in many cryptocurrencies: a broad base of small holders alongside significant concentration among larger players, or “whales.” While nearly 96% of addresses hold less than $1,000 worth of BONE, whales (addresses with $100k+) control roughly 50.14% of the supply.

credit: CoinMarketCap

Impressively, long-term conviction appears strong, with analytics suggesting over 87% of addresses have held BONE for more than a year. Despite the positive price and volume trends over the week, BONE’s overall market capitalization registered a slight decrease, down approximately 6.33% to $62.68 million according to data from CoinMarketCap.

In summary, Bone ShibaSwap presents a picture of renewed short-term interest, backed by strong community sentiment and long-term holders. Technical indicators suggest momentum is rebuilding but not yet overheated. Investors continue to watch BONE closely, balancing the positive signs against the token’s inherent volatility and the mixed signal from its recent market cap fluctuation.

The post Bone Price Shows Positive Momentum Amid Strong Community Backing first appeared on The Shib Daily.

Shiba Inu Chart Hints at Reversal as Whale Transactions Surge

Gushiken Yona — Tue, 22 Apr 2025 05:22:48 +0000

A pattern suggesting a potential price reversal is taking shape on the Shiba Inu chart, catching analysts’ attention just as on-chain data reveals a dramatic spike in large transactions. The timing has observers speculating that major holders, or “whales,” may be positioning themselves, hinting at renewed interest in the meme coin’s next move.

Potential Reversal Pattern Emerges on Shiba Inu Chart

Technical analysts are eyeing a specific formation on the daily price chart for Shiba Inu (SHIB), particularly as depicted in analysis published on TradingView by the user @CryptoWizard101 on Monday. The chart appears to show the cryptocurrency carving out a “double bottom” pattern against its Tether (USDT) pairing.

This classic technical formation occurs when a price tests a low point, bounces, retests that same approximate low, and bounces again. In traditional chart analysis, a double bottom is often viewed as a bullish signal.

It suggests that sellers may lack the conviction to push the price lower past that established support level – seen near the $0.00001154 mark on the referenced chart. If the pattern holds and the price breaks above the intervening peak, it could signal the start of a potential uptrend.

Whale Transactions Spike Alongside Chart Signals

Adding weight to the chart observations is a significant surge in activity on the Shiba Inu blockchain itself. Data from analytics firm IntoTheBlock indicated a dramatic 95.91% increase in the volume of large SHIB transactions within the 24 hours leading up to Monday.

These large movements, typically defined as transactions exceeding $100,000, accounted for a transfer volume of roughly 18.51 trillion SHIB. At the time, this amount was valued at approximately $7.75 million.

Such a sharp uptick in large transaction volume frequently points towards increased activity among cryptocurrency “whales” – wallets holding substantial amounts of the asset. While the specific intentions behind these movements remain unclear (they could represent buying, selling, or simply internal transfers), the sheer scale suggests major players were actively engaging with SHIB.

This coincided with broader market activity, as data from CoinMarketCap showed Shiba Inu’s overall 24-hour trading volume had increased by about 10%, reaching nearly $149 million.

credit: CoinMarketCap

Holder Sentiment Remains Strong Despite Whale Dominance

Further context from market data highlights the unique distribution of Shiba Inu. While an overwhelming majority of addresses (over 93%) hold relatively small amounts (under $1,000), a very small cohort of whale addresses (0.15%) wields significant influence, controlling an estimated 58.5% of the token’s supply.

Despite this concentration, a strong sense of holding persists within the community. Analytics suggest that over 77% of Shiba Inu addresses have held their tokens for more than one year, classifying them as long-term “Holders” rather than short-term “Traders.”

While the potential double bottom on the Shiba Inu chart and the surge in whale activity present intriguing data points, market analysts caution against definitive conclusions. Technical patterns can fail, and whale movements can be ambiguous. Yet, the convergence of these factors has undeniably placed Shiba Inu back in the spotlight for traders and investors monitoring the popular meme coin for signs of its next significant move.

The post Shiba Inu Chart Hints at Reversal as Whale Transactions Surge first appeared on The Shib Daily.

UK Gang Created Meme Coin in Crypto Money Laundering Plot

Gushiken Yona — Tue, 22 Apr 2025 03:07:02 +0000

In a new twist on financial crime, a British drug gang has reportedly minted its own digital currency. The goal isn’t internet fame for their meme coin, a crime expert warns, but pioneering a brazen new method of crypto money laundering.

Expert Flags Novel “Meme Coin” Scheme

This unusual venture was brought to light by Gary Carroll, a specialist in drug crime analysis with years of policing experience. He learned of the active scheme through his contacts, though he couldn’t name the gang or the specific coin to protect those sources. Carroll, an expert witness who has studied the methods of organized crime, described the digital asset simply as a “meme coin.”

These aren’t currencies built on groundbreaking technology. Often, they spring from internet jokes or online trends, designed primarily to gain viral attention. The gang’s alleged goal, according to Carroll, is straightforward financial manipulation – a form of crypto money laundering known as a “pump and dump.”

Pump and Dump: The Crypto Money Laundering Method

The mechanics sound almost like a startup parody. Illicit funds, likely from drug trafficking or fraud, were reportedly used to pay developers. These developers built a technically functioning cryptocurrency.

Once launched, the gang hopes it catches the public’s eye, perhaps fueled by social media buzz. “They are hoping to get the coin onto popular wallets and for the public to fall on it and turn it into the next Dogecoin,” Carroll explained in a recent interview.

If online hype drives the price up, even modestly, the gang plans to sell their holdings rapidly. This sudden sell-off would likely crash the coin’s value, leaving later investors holding worthless digital tokens.

But for the gang, the profit, now detached from its illegal origins, could appear legitimate. “Even if the coin only rises by a small amount they could still make a lot of money before selling out,” Carroll noted. This strategy is a known tactic, but applying it via a self-created coin marks a significant development in crypto money laundering.

Mid-Level Gangs Entering the Crypto Fray Amid Crackdown

Carroll described the group involved as “mid-level” operators. They aren’t necessarily dominating the drug trade but are involved in extortion, fraud, and selling counterfeit goods alongside drugs.

Based mainly in England, they have international links and enough capital – perhaps a few hundred thousand pounds – to fund the coin’s creation. “They’re not a household name,” he said, but resourceful enough to try this novel approach.

For years, criminal organizations have relied on established cryptocurrencies like Bitcoin for moving illicit funds. But the landscape is shifting. Britain’s National Crime Agency (NCA) recently detailed a major success against large-scale crypto money laundering networks.

As reported by the BBC in late 2024, the NCA uncovered sprawling operations, like the Moscow-based Smart and TGR networks, which specialized in swapping drug gangs’ cash for cryptocurrency. These networks became particularly crucial during pandemic lockdowns, investigators found, when gangs struggled to move mountains of physical cash.

The Russian-linked services offered a lifeline, taking the risky cash off their hands (for a fee) and providing crypto in return, sometimes sourced from ransomware attacks. The NCA’s operation led to dozens of arrests in the UK, including couriers caught moving millions, significantly disrupting these established channels for crypto money laundering.

Against this backdrop of heightened enforcement, Carroll suggested the move by a U.K. gang to create its own coin is telling. “Developing a meme coin is one step further,” he stated, noting it might be perceived as easier than navigating disrupted networks. “Why invest in the coin when they can just start one themselves?”

Is Gang-Created Coin the Future of Crypto Money Laundering?

He believes this method could become more common, fueled by the desire for quick returns. “Criminals, especially drug dealers, aren’t known for their patience,” he observed. While the NCA has had successes disrupting established crypto money laundering rings, Carroll anticipates specific cases involving gang-created coins like this one appearing in UK courts within the next couple of years. It represents, he concluded, an attempt by criminals to find new ways to “semi-legitimize their trade” in the digital age, potentially in response to increased pressure on older methods.

The post UK Gang Created Meme Coin in Crypto Money Laundering Plot first appeared on The Shib Daily.

US Charges Wall Street Vet in $7M Crypto Casino Scheme

Gushiken Yona — Fri, 18 Apr 2025 19:47:27 +0000

Federal prosecutors charge Richard Kim, a former executive at top Wall Street firms and founder of a startup crypto casino, with defrauding investors out of millions. The government alleges Kim solicited over $7 million for his venture, Zero Edge, under false pretenses and then misappropriated the funds, losing most through high-risk trades and gambling.

Kim, previously with Galaxy Digital, Goldman Sachs, and JPMorgan Chase, was arrested Tuesday, according to court filings.

Complaint Details Alleged Crypto Casino Fraud

The accusations appear in a formal complaint filed in the Southern District of New York, charging Kim with wire fraud and securities fraud allegedly occurring between March and July 2024. The filing, sworn by an FBI agent, accuses Kim of “knowingly having devised and intending to devise a scheme and artifice to defraud” investors.

Zero Edge reportedly raised over $7 million, closing a seed round around June 20. Within days, authorities allege, the misappropriation began. The FBI stated Kim lost “nearly all” of the funds. Initial reports indicated Kim admitted losing at least $3.67 million shortly after funding closed; prosecutors later cited a figure closer to $4.3 million.

Kim attributed the losses to leveraged crypto trades during Bitcoin’s June decline, telling CoinDesk it was fueled by a long-standing gambling addiction and a “downward spiral.” He said that after receiving the funds, “something snapped. I felt compelled to make up for my missteps.”

credit: Court Listener

A Fall From Prominence

Kim’s arrest contrasts sharply with his Wall Street and legal pedigree. Before founding Zero Edge – pitched as a crypto casino giving players even odds – he was a general partner at Galaxy Interactive. His resume also includes COO roles in trading divisions at Goldman Sachs and JPMorgan and work as an attorney at Cleary Gottlieb.

Galaxy Digital was an investor. A spokesperson shared in a July interview that Galaxy and others “reported his conduct to the authorities” upon learning of Kim’s actions, calling their own investment “immaterial.”

Kim said in that interview that he had proactively contacted the SEC, admitting his actions were “grossly negligent” but denying intent to steal.

Specific Counts and Status in Crypto Casino Case

The wire fraud charge involves using interstate communications to misappropriate funds. The securities fraud count alleges Kim used “manipulative and deceptive devices,” including untrue statements or omissions, related to securities.

The U.S. Attorney’s Office for the Southern District of New York is prosecuting. Court records indicate Kim was released on a $250,000 secured bond. Despite resigning from Zero Edge on July 2, Kim said he intended to repay investors.

The post US Charges Wall Street Vet in $7M Crypto Casino Scheme first appeared on The Shib Daily.

Crypto Bull Run Peak Could Slip Amid US-China Trade War Escalation

Gushiken Yona — Thu, 17 Apr 2025 18:19:05 +0000

As the U.S. and China lock horns in a deepening trade war, the crypto bull run teeters on uncertain ground. An investment expert warns that intensifying geopolitical tensions could keep markets volatile and push the peak of this cycle far beyond what investors expect.

Crypto Bull Run Threatened by Global Tensions

The crypto bull run, already navigating a complex macroeconomic climate, now faces fresh headwinds from an escalating trade standoff between the world’s two largest economies. Min Xue, investment partner at Foresight Ventures, believes this isn’t a temporary scuffle—it’s a long-haul fight.

“This fight will drag on,” said Xue in a statement shared with The Shib Daily, warning of “high volatility for both US equities and crypto over the next six months.” His take? The delayed resolution and retaliatory actions from both sides are likely to hold back momentum in high-risk asset classes, including crypto.

How the US-China Conflict Could Delay the Crypto Bull Run Peak

This prolonged uncertainty led Xue to a specific forecast regarding the current cycle: “The bull market peak for crypto? Likely later than Q3.” Why the delay?

Xue pointed out that “The Trump team overestimates what tariffs can achieve—bringing manufacturing back isn’t a 1-2 year fix.” Meanwhile, Beijing appears ready for a prolonged standoff. According to Xue, “China’s been prepping since his first term: diversifying trade partners (EU, MENA, SEAsia, LATAM) & doubling down on homegrown tech (DeepSeek, Huawei).”

This preparation signals Beijing is not only ready to retaliate but potentially to escalate beyond previous measures. “China will hit back harder this time,” Xue asserted. He applies a strategic lens: “Game theory 101: if you know the other side might flip later, you go max tough upfront.” With both economic giants digging in, investors should “brace for serious market swings.”

Adding another layer of complexity for risk assets, “with inflation still hot, don’t count on the Fed to slash rates anytime soon,” Xue added, removing a potential major fuel source for crypto rallies.

Beyond Tariffs: Escalation Tactics Emerge

Recent developments confirm this isn’t just about tariffs on goods anymore. Reports indicate China is broadening its retaliation strategy, increasingly targeting the U.S. services sector – including legal, consulting, travel, and education – where America traditionally holds a surplus. This shift is accompanied by a series of non-tariff measures designed to inflict pain and gain leverage.

Examples include:

Targeting Key Exporters: Beijing reportedly ordered Chinese airlines to halt deliveries of Boeing jets, striking at America’s largest exporter.
Restricting Critical Resources: China tightened export controls on rare-earth minerals vital for semiconductors, defense systems, and green technology.
Applying Direct Pressure: U.S. firms like PVH (parent of Tommy Hilfiger) and gene-sequencing company Illumina were added to an “unreliable entity” list, restricting their business in China.
Undermining U.S. Tech: Chinese authorities issued notices for individuals allegedly involved in cyberattacks on behalf of the NSA, while state media encouraged replacing American technology with domestic alternatives.

What This Means for Crypto Investors

The intensifying US-China conflict creates a challenging macroeconomic backdrop for cryptocurrencies. Prolonged geopolitical tension and the resulting market volatility typically lead investors to reduce exposure to riskier assets. While crypto has unique drivers, it remains highly sensitive to global liquidity conditions and overall market sentiment, both of which are negatively impacted by such large-scale economic conflict.

As Min Xue suggested, with both sides seemingly prepared for a protracted struggle and central banks constrained by inflation, the path forward for crypto markets in the coming months could be choppy. Investors may need to adjust their timelines and brace for continued volatility as this geopolitical drama unfolds.

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Shiba Inu Whales Accumulate, Net Flow Surges Nearly 800%

Gushiken Yona — Wed, 09 Apr 2025 11:15:15 +0000

Shiba Inu whales are making waves in the market, with on-chain data revealing a near 800% surge in net flows. This dramatic uptick suggests large holders are positioning themselves for potential gains, despite a bearish market trend.

Shiba Inu Whales Signal Strong Accumulation

Despite the crypto market wallowing in the red, Shiba Inu whales made a move, showing startling revelations from on-chain data, pointing directly at decisive actions taken by large holders. Data intelligence firm IntoTheBlock reported a dramatic surge that has captured widespread attention: large holder net flows for Shiba Inu increased by an astounding 784.8%.

This metric specifically tracks the net difference between tokens moving into and out of wallets classified as belonging to large holders. Such a massive positive swing strongly implies that these major players, viewed collectively, acquired far more SHIB than they sold or moved elsewhere during the monitored period. It’s a powerful indicator often interpreted as active accumulation.

Increased Activity Confirmed Among Shiba Inu Whales

Further backing this claim, IntoTheBlock also data showed a 315.4% rise in large holder inflows—tokens moving directly into whale wallets. Both increases suggest that Shiba Inu whales are actively growing their positions, not just holding.

This kind of activity is often viewed by analysts as a sign of bullish sentiment. Whales, with their market insight and resources, are betting on future developments that could push SHIB’s value higher. Their large-scale accumulation could reflect a belief that SHIB is currently undervalued or that major news is imminent.

Market Dynamics: Whale Influence and Community Strength

Shiba Inu whales already control 58.48% of the circulating SHIB supply, according to CoinMarketCap analytics. This concentration of holdings gives them substantial influence over price movements. When they buy or sell in bulk, the market feels the impact, for better or worse.

credit: CoinMarketCap

But whales are not the only force driving Shiba Inu’s market. A large and committed retail community also plays a pivotal role. CoinMarketCap data shows that 76.88% of SHIB holders are long-term investors, having held their tokens for over a year. This loyalty adds stability to the ecosystem, balancing out the short-term volatility caused by whale movements.

The nearly 800% spike in whale net flows doesn’t guarantee a price surge, but it does suggest heightened market interest. As Shiba Inu whales continue to accumulate, the market will closely watch to see if their confidence translates into sustained upward momentum for SHIB.

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Shiba Inu Price Could Surge 14x Amid Mixed Market Signals

Gushiken Yona — Fri, 04 Apr 2025 09:34:58 +0000

Shiba Inu stares down a dramatic forecast. One analyst now projects a potential 14-fold surge based on technical charts. Yet this bullish call directly confronts a complex market picture, featuring slight increases in the Shiba Inu price alongside recent indicators unfavorable to SHIB longs.

The forecast originated from an analyst using the handle @CryptooELITES on the social platform X on Thursday. The analyst shared a technical chart for the SHIB token paired against USDT.

They pointed to specific patterns interpreted as a “strong buy zone” and projected a price target implying a roughly 14-fold increase from recent levels. Technical analysis aims to predict future movements based on past price action and chart formations, but such forecasts are speculative.

Current Shiba Inu Price and Market Snapshot

This projection emerged as Shiba Inu navigated the market with relative quiet, showing stability rather than dramatic shifts. As of 4:56 a.m. ET, the token’s price was approximately $0.00001245, marking a slight 1.5% increase over the preceding 24 hours, according to CoinMarketCap data. While positive, this modest gain offered little immediate support for predictions of explosive growth.

The minor uptick pushed Shiba Inu’s total market capitalization to $7.34 billion, also up 1.5% on the day. This substantial market cap underscores SHIB’s significant presence within the cryptocurrency landscape, placing it well above many smaller projects despite its origins as a meme coin.

Trading volume over the same 24-hour period reached roughly $225 million. This level of activity indicates consistent engagement from traders, yet when paired with the small price change, it suggests a lack of strong buying or selling pressure needed to drive a major price move in either direction at that specific time.

Derivatives Market Adds Caution to Shiba Inu Price Outlook

While the analyst saw potential for a significant rally, data from the derivatives market suggested recent headwinds for bullish traders. Figures from Coinglass on Friday showed that 24-hour trading volume in SHIB derivatives contracts had fallen sharply, down almost 27 percent to about $147.6 million.

Conversely, open interest—the value in active contracts—ticked up slightly by 1.77 percent to $115.4 million. Further metrics pointed towards recent struggles for those betting on a price rise.

The overall long/short ratio was 0.95, indicating slightly more capital positioned short. More significantly, liquidations disproportionately hit long positions. Over the 24 hours leading up to Friday, Coinglass data showed roughly $210,000 in longs were liquidated compared to only about $50,000 in shorts. This pattern often indicates that recent price movements have worked against optimistic traders.

The contrast between the analyst’s technical forecast and the derivatives data underscores the often-complex dynamics influencing cryptocurrency prices. Market conditions for assets like Shiba Inu remain fluid and subject to various factors.

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Shiba Inu Gears Up for Takeoff: Key Breakout Levels in Sight

Gushiken Yona — Fri, 28 Mar 2025 12:38:51 +0000

Shiba Inu is coiling like a spring, primed for its next explosive move. Analysts say the dog-themed meme coin is flirting with a breakout, testing key resistance levels that could ignite a fresh rally. Will SHIB bulls seize control and send prices soaring, or is a sharp pullback lurking in the shadows?

Shiba Inu Price Analysis: Bullish Outlook

Crypto analyst CryptoWizard101 has been closely monitoring Shiba Inu’s price action, and their analysis suggests a potential bullish breakout is on the horizon.

“Shiba Inu price hit our target of 0.000015 before pulling back to the 0.000014 level,” CryptoWizard101 noted. “It seems to be preparing for another rally. If the overall market turns bullish, it could help propel the price to 0.000017.”

This suggests that if Bitcoin and the broader cryptocurrency market experience positive momentum, SHIB could be poised to break through the 0.000017 resistance level.

credit: cryptowizard101

Supply Zone Resistance: Analyst Warns of Potential Shiba Inu Pullback

However, another crypto analyst, Marcus Corvinus, cautioned that SHIB faces significant resistance in the form of a “Supply Zone.” This area, ranging from 0.00001530 to 0.00001650, could present a challenge for SHIB bulls.

“$SHIB has broken out, but the battle isn’t over!” the analyst stated. “After a strong breakout from a Descending Broadening Wedge, SHIB is now wrestling with a critical Supply Zone (0.00001530 – 0.00001650). Rejection here could trigger a deeper pullback—watch 0.00001181 for a bounce or a liquidity sweep at 0.00001081!”

This means that if Shiba Inu fails to break through this supply zone, it could experience a significant price correction. The analyst identified 0.00001181 as a potential bounce level, and 0.00001081 as a level where a “liquidity sweep” (a rapid price decline designed to trigger stop-loss orders) could occur.

credit: Marcus Corvinus

SHIB Breakout Scenario: A Violent Squeeze Towards 0.000019?

Despite the potential for a pullback, the analyst also outlines a bullish scenario. If SHIB can successfully break through the 0.00001711 resistance level, it could trigger a rapid price increase.

“But if bulls smash through 0.00001711, the squeeze toward 0.00001900 could be violent,” the analyst stated. This “squeeze” refers to a situation where short sellers (investors betting on the price to go down) are forced to cover their positions, driving the price even higher.

Trading Strategy: Key SHIB Levels to Watch

The technical analysis suggests that Shiba Inu is at a critical juncture. Traders should closely monitor the following levels:

Resistance 1: 0.00001530 – 0.00001650 (Supply Zone – potential for rejection)
Resistance 2: 0.00001711 (Key Breakout Level – potential for a rally to 0.000019)
Support 1: 0.00001181 (Potential Bounce Level)
Support 2: 0.00001081 (Potential Liquidity Sweep Level)

Despite ongoing market volatility, Shiba Inu has held its ground this week. CoinMarketCap data shows SHIB trading at $0.00001320 as of 7:31 a.m. ET on Friday, up 4.71% over the past seven days, with a 24-hour trading volume of $257.73 million.

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Bitcoin Caught in Crossfire: Retail Weakens, Institutions Buy the Dip

Gushiken Yona — Fri, 28 Mar 2025 11:24:22 +0000

Bitcoin stands at a crossroads, caught between fading retail confidence and a surge of institutional buying. On one side, small traders retreat, spooked by uncertainty. On the other, deep-pocketed investors scoop up BTC, signaling a battle for the next big move. The question looms: Will institutional demand fuel a breakout, or is retail’s retreat a warning of trouble ahead?

Bitcoin Retail Sentiment: A Potential Warning Sign

Hyblock Capital, in a report seen by The Shib Daily, highlighted a concerning trend: weakening retail sentiment in the Bitcoin market. Shubh Varma, CEO and Co-founder of Hyblock Capital, pointed to a key metric as evidence.

“True retail accounts long% on Binance stablecoin-margined (USDS-M) futures is at a low 47% (8th percentile over 90 days),” Varma noted in the report. This means that fewer retail investors are betting on Bitcoin’s price to rise, relative to historical trends.

Varma cautioned that this low level of retail bullishness could be a sign of a potential short-term top. “A mean-reversion to 59% (+12% shift) could drive short-term price declines, suggesting caution near current levels,” he warned. In other words, if retail sentiment begins to shift back towards the average, it could trigger a sell-off and push Bitcoin’s price lower.

Institutional Bitcoin Buying: Coinbase CVD Signals Optimism

Despite the weakening retail sentiment, the Hyblock Capital report also identifies a positive signal: strong buying pressure on Coinbase, a popular exchange among institutional investors.

“Coinbase spot CVD, a reliable 3-7 day leading indicator, shows strong buying despite BTC’s rise, a healthy sign unless divergence emerges,” Varma states. Cumulative Volume Delta (CVD) measures the difference between buying and selling volume, and a positive CVD indicates that more investors are buying than selling.

The fact that Coinbase is seeing strong buying pressure despite Bitcoin’s recent price gains suggests that institutional investors are confident in the cryptocurrency’s long-term prospects.

Leverage and Volatility: A Tightening Leverage Gap

Another factor that could impact Bitcoin’s short-term price is the tightening leverage gap. The report notes that the delta between long and short leverage on Binance USDS-M futures has narrowed to approximately 3.12.

Varma explained that this “increased volatility and potential local bottoms—historically a setup for dip-buying opportunities.” When the leverage gap is narrow, it means that there are roughly equal amounts of investors betting on BTC to go up (long) and go down (short). This creates a more volatile market environment, where sudden price swings are more likely.

Bitcoin Price Prediction: A Mixed Outlook

The Hyblock Capital report paints a complex picture of the Bitcoin market, with conflicting signals suggesting both potential upside and downside risks.

Varma concluded, “As macro and crypto collide, the focus shifts from ‘pump your bags’ to strategic positioning in a reshaping financial order.” For now, the battle lines are drawn—institutions see an opportunity, while retail traders remain cautious. If Coinbase buying holds, BTC could push toward $90,000. But if retail sentiment forces a reversal, a dip below $85,000 may come first.

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Shiba Inu Breaks Out: 415% Surge Eyed As Strength Returns

Gushiken Yona — Thu, 27 Mar 2025 11:03:58 +0000

Shiba Inu is flashing strength after a decisive breakout, and a crypto analyst believes it could skyrocket by 415%. As SHIB holds its ground above key resistance, signs of renewed momentum hint at an explosive rally ahead.

The bullish prediction came from crypto analyst Javon Marks (@JavonTM1 on X), who recently shared his technical perspective on the social media platform X. Marks highlighted a crucial development in Shiba Inu’s price chart: the token has decisively moved above, and subsequently held, levels that previously acted as significant resistance.

Analyst Points to Key Shiba Inu Breakout

According to Marks’ analysis, the significance of SHIB trading above its former resistance cannot be overstated. In technical trading, when an asset breaks through a price ceiling and manages to stay above it, that previous ceiling often transforms into a new supportive floor.

This suggests a fundamental shift in market dynamics, potentially indicating that sellers have exhausted their pressure at those levels and buyers are now establishing control. Marks emphasized that SHIB remains “well broken out,” indicating this structural shift persists.

“Signs of Strength” Emerge for Shiba Inu Price

Building on the foundation of the breakout, Marks observed what he termed returning “signs of strength” within SHIB’s price action. While the initial explosive move following the breakout might have cooled, these new signals suggest the underlying bullish momentum is not extinguished but rather gathering steam for a potential second act.

credit: @JavonTM1

“SHIB (Shiba Inu)’s prices are starting to return with signs of strength here,” Marks noted, adding the crucial context that this is happening while the token “remains well broken out.”

These emerging signs could encompass various technical indicators – perhaps stabilizing price action above the breakout point, an uptick in buying volume relative to selling pressure, or positive turns in momentum oscillators. Marks interpreted this combination – holding the breakout while strength rebuilds – as a highly constructive setup, implying that the initial move might just be the precursor to something much larger. “…meaning that this strength can pick up massively!” he stated.

Analyst Forecasts Massive 415% SHIB Rally

This confluence of a confirmed breakout and nascent strength led Marks to reiterate a bold price projection for Shiba Inu. “With prices still broken out, $0.000081 remains as the target,” he declared.

Achieving this ambitious target would necessitate a significant surge from SHIB’s current trading range, representing, by Marks’ calculation, “an over 415% run.” This forecast paints a picture of substantial upside potential, predicated on the continuation of the positive technical structure.

It is crucial, however, to frame such technical projections within the broader market context. Technical analysis, while a valuable tool for identifying potential trends and price levels based on historical data, deals in probabilities, not certainties.

The path to $0.000081, should it materialize, is unlikely to be a straight line. Cryptocurrency markets are notoriously volatile, swayed by macroeconomic factors, regulatory shifts, evolving narratives, and unpredictable shifts in overall investor sentiment.

Nonetheless, for traders guided by technical patterns and for the dedicated “ShibArmy” looking for positive reinforcement, Marks’ analysis offers a compelling roadmap. It suggests that Shiba Inu’s recent price behavior is potentially laying the groundwork for a significant upward move, transforming a successful breakout into the launchpad for a potentially explosive rally.

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Shiba Inu Treat Heats Up: 219% Volume Surge, Bulls Take Charge

Gushiken Yona — Wed, 26 Mar 2025 14:26:30 +0000

Shiba Inu Treat (TREAT) is on fire. Trading volume erupts 213%, sending shockwaves through the market as bulls seize control. Price action intensifies, signaling a potential breakout for Shiba Inu’s powerhouse token.

Shiba Inu Treat Spot Volume Explodes Over 200%

The surge is undeniable, reflected clearly in recent spot market performance. Data from CoinMarketCap shows Shiba Inu Treat posting a solid 4.65% gain over the past 24 hours, pushing its price towards $0.005552 at the time of writing. While the percentage gain is notable, the real story lies in the underlying activity driving this move.

Fueling the rally is an extraordinary explosion in trading volume. Over the last day, TREAT’s 24-hour spot volume skyrocketed by a staggering 219.25%, reaching approximately $3.76 million. This dramatic influx of trading activity suggests a powerful wave of buying pressure and renewed investor focus on the token, pushing its market capitalization towards $5.06 million.

credit: CoinMarketCap

Such a massive volume spike accompanying positive price action is often interpreted by market analysts as a strong bullish confirmation, indicating widespread interest and potentially signaling the start of a more significant upward trend. It suggests traders aren’t just passively watching; they’re actively accumulating TREAT.

While still relatively nascent compared to larger assets, TREAT’s derivatives market is also showing clear signs of awakening interest, mirroring the spot market’s enthusiasm. Data sourced from Coinglass highlights a significant percentage jump in derivatives trading volume.

Shiba Inu Treat Derivatives Show Growing Interest Despite Low Base

Over the past 24 hours, TREAT derivatives volume surged by an impressive 166.97%. Simultaneously, Open Interest (OI), which measures the total value of outstanding futures contracts, climbed by 9.55% to $19,240. Although the absolute dollar values remain modest, these percentage increases point towards growing engagement from speculative traders.

credit: Coinglass

The 24-hour long/short ratio sits slightly below parity at 0.926, suggesting a marginal bearish tilt in aggregate positioning. However, liquidation data shows virtually no leveraged positions being wiped out ($0.57 total), indicating that current derivatives activity involves very low leverage, typical for an emerging market.

TREAT’s Core Utility in Shib OS Underpins Bullish Sentiment

Beyond the immediate market frenzy, TREAT’s fundamental role within the comprehensive Shiba Inu Operating System (Shib OS) provides a compelling narrative for investors. TREAT is not just another token but was designed as a key utility asset, granting access to crucial infrastructure like the high-speed Shib Alpha Layer and advanced privacy features powered by FHE (Fully Homomorphic Encryption) across identity, transactions and Layer 3 solutions.

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Shiba Inu Signals Breakout as Key Metric Turns Bullish

Gushiken Yona — Mon, 24 Mar 2025 08:27:04 +0000

Shiba Inu (SHIB) tightens its grip on the charts, flashing a bullish signal that traders can’t ignore. As volatility coils and a key metric hints at an imminent breakout, the stage is set for SHIB to make its next big move. But, will the market bite?

Shiba Inu (SHIB), the vibrant community-driven cryptocurrency that captured the attention of the crypto world, is currently demonstrating resilience and potential for future growth. While ranked within the top 20 crypto assets by market capitalization, SHIB’s current price, belies the intriguing technical setup unfolding on its daily chart.

The TradingView chart reveals a fascinating story. After a period of healthy consolidation following a remarkable early 2024 surge, SHIB is now interacting with its Bollinger Bands in a way that could signal an exciting opportunity for investors.

Shiba Inu Bollinger Band Squeeze: A Coiled Spring?

The Bollinger Bands, a powerful indicator of volatility, are currently exhibiting a classic “squeeze.” This narrowing of the bands, reflecting a period of reduced price fluctuation, often precedes a significant price expansion. For savvy investors, this squeeze represents a potential window of opportunity.

SHIB is currently testing the lower Bollinger Band, situated around $0.00001165. This level is acting as a crucial support.

credit: CoinMarketCap

A successful hold above this support, coupled with the current squeeze, could be the launchpad for a significant upward move. The middle Bollinger Band (the 20-day Simple Moving Average) at approximately $0.00001267, and further the Upper bollinger band at (0.00001370) presents the next logical targets for a potential breakout.

Underlying Strength and Shib Army Support

While the Relative Strength Index (RSI) at 46.84 indicates a neutral stance, it’s important to note that this doesn’t reflect the underlying strength of the SHIB community. The dedicated SHIB Army has consistently demonstrated its commitment to the project, providing a strong foundation for long-term growth. Subdued volume at this time can be seen as the market taking a breath before its next potential major move. The last price is slightly over the 20 day simple moving average.

credit: CoinMarketCap

Key Levels and Potential Upside

Strong Support: Lower Bollinger Band ($0.00001165) – A potential buying opportunity.
First Target: 20-day SMA / Middle Bollinger Band ($0.00001267) – A realistic short-term goal.
Second Target: Upper Bollinger band (0.0001370)

Shiba Inu Price Action

Shiba Inu (SHIB) currently trades at $0.00001306, reflecting a 1.39% daily increase and a market capitalization of $7.69 billion, closely aligned with its Fully Diluted Valuation (FDV) of $7.7 billion, based on the data from CoinMarketCap. This indicates that the vast majority of its immense total and max supply (approaching 600 trillion SHIB) is already circulating (589.25T SHIB), a common trait of meme coins designed for small fractional unit values, which mitigates significant future dilution risks.

credit: CoinMarketCap

The 24-hour trading volume of $128.7 million, up by 21.74%, coupled with the price increase, suggests growing buying pressure and positive market sentiment. While a Volume/Market Cap ratio (which would be slightly above 1.65% based on these numbers) is still relatively moderate, the increased trading activity lends credence to a potential shift towards a more bullish outlook, placing SHIB in a position where a catalyst could trigger a more decisive directional move, the stability of the circulating and total supply provide some stability in tokenomics.

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Shiba Inu Trading Volume Surges, Breakout Speculations Mounts

Gushiken Yona — Tue, 11 Mar 2025 11:00:00 +0000

A battle brews on the Shiba Inu charts. Trading volume soars, “whale” investors make massive moves, and the question on everyone’s mind is: can $SHIB finally break through key resistance and ignite a new rally?

Shiba Inu Trading Volume, Whale Activity

Shiba Inu experienced a dramatic surge in trading activity over the past week, prompting speculation about a potential price breakout. Daily trading volume reached $486.25 million, a 57.81% increase, according to recent data from CoinMarketCap.

This heightened activity coincided with a significant increase in large transactions, often attributed to “whales” – investors holding substantial amounts of the cryptocurrency. Data from IntoTheBlock, a blockchain analytics firm, reveals that large transaction volumes for SHIB jumped by over 150% between March 2 and March 5.

On March 2 alone, these large holders traded $17.28 million worth of SHIB. This surge in whale activity often precedes significant price movements, as large buy or sell orders can have a disproportionate impact on the market.

Technical Hurdles Ahead

While the increased trading volume and whale activity are potentially bullish signals, Shiba Inu faces several critical resistance levels that it must overcome to sustain a significant upward trend. These resistance levels, identified through technical analysis of the price chart, by crypto analyst The Hunters_Company, represent price points where selling pressure has historically been strong.

The first significant resistance is at $0.00001693. This level, visible on the accompanying chart, represents a near-term hurdle. A “breakout” – a sustained move above this price – could indicate a shift in market sentiment and potentially trigger further buying.

Chart by The Hunters Company, sourced from TradingView

A more substantial mid-term barrier lies at $0.00002485. Overcoming this resistance would be a more significant development, suggesting a stronger bullish trend. If SHIB can surpass this level, the analyst suggested a potential move towards $0.00004022, a previous high point for the cryptocurrency.

The analyst also used Fibonacci projections, a technical analysis tool that identifies potential support and resistance levels based on mathematical ratios, to forecast longer-term price targets. One such projection suggests a potential long-term target of $0.00007380 for SHIB, although such projections are inherently speculative and depend on numerous market factors.

Shiba Inu Price Action

As of 12:05 a.m. ET, Shiba Inu (SHIB) was trading at $0.00001150, a price reflecting the heightened activity that saw its 24-hour trading volume surge to $485.35 million – a substantial 56.69% increase. This surge placed Shiba Inu’s market capitalization at $6.77 billion, according to data from CoinMarketCap.

With a circulating supply of 589.27 trillion SHIB tokens, the meme coin’s price movements are often characterized by significant volatility, driven by a combination of speculative trading and broader market sentiment. The current price action suggests a renewed, though still tentative, interest in SHIB, following a period of relative stagnation.

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Crypto Market Slides as Macroeconomic Fears Rattle Investors

Gushiken Yona — Tue, 11 Mar 2025 10:30:00 +0000

Bitcoin, Ethereum and the broader crypto market see significant declines, driven by outflows from spot ETFs and growing expectations of aggressive Federal Reserve rate cuts.

The crypto market faced a sharp downturn, with Bitcoin and Ethereum posting significant weekly losses, as a wave of macroeconomic uncertainty prompts investors to pull back from digital assets. The shift reflected a broader “risk-off” sentiment, fueled by concerns over global economic growth and expectations of more aggressive monetary easing by central banks.

Bitcoin and Ethereum Lead the Crypto Market Slide

Bitcoin (BTC), the world’s largest crypto asset by market capitalization, closed the week at approximately $89,735. This marked a 14.4% decline from the previous week’s close of around ninety-four thousand two hundred seventy dollars.

Screenshot of 30-day Bitcoin price chart from CoinMarketCap

Ethereum (ETH), the world’s second largest crypto asset by market capitalization, fared even worse. It plummeted 19.8% to end the week at approximately $2,020, according to Matteo Greco, Research Analyst at Fineqia International.

Screenshot of 30-day Ethereum price chart from CoinMarketCap

ETF Outflows Signal Crypto Investor Caution

The decline in prices coincided with substantial outflows from Bitcoin spot Exchange-Traded Funds (ETFs). “BTC spot ETFs recorded outflows of approximately $800 million last week, marking the fourth consecutive week of negative flows,” Greco said in a note seen by The Shib Daily. This trend, he explained, “reflects heightened uncertainty and risk-off sentiment among investors, driven by macroeconomic and geopolitical concerns.”

Ethereum spot ETFs also experienced outflows, with around $120 million exiting over the past week. This underscored a broader trend of investors reducing their exposure to digital assets.

Fed Rate Cut Expectations and Crypto Market Volatility

The market’s downturn is intertwined with shifting expectations regarding Federal Reserve monetary policy. “Market participants now anticipate the Federal Reserve (FED) will cut interest rates by 75 to 100 basis points in 2025, following the latest inflation and labor market data,” Greco stated.

While the labor market remains relatively strong and inflation appears contained, early signs of a slowdown are emerging. As a result, expectations have shifted towards a more aggressive monetary easing policy compared to recent forecasts.

This potential shift is significant because lower interest rates generally make riskier assets, like cryptocurrencies, more attractive. However, the reason for the expected rate cuts – a slowing economy – is creating a countervailing force of fear and uncertainty. The market appears to be prioritizing the immediate economic concerns over the potential long-term benefits of lower rates.

ECB Actions and MiCA Impact on the Crypto Market Slide

The European Central Bank (ECB) has already been actively cutting rates in response to sluggish economic growth. Last week, the ECB implemented its sixth consecutive rate cut, bringing interest rates down to two point five percent. “Given recent US economic data, the FED may accelerate its own rate-cutting cycle to align more closely with the ECB’s approach,” Greco observed.

Beyond monetary policy, regulatory changes are also impacting the European crypto market. The full implementation of the Markets in Crypto-Assets (MiCA) regulation is set to take effect at the start of the second quarter.

“As a result, most exchanges operating legally in Europe will delist all non-MiCA-compliant stablecoins by the end of the month,” Greco explained. “This includes major stablecoins such as USDT, DAI, and PAXG.” This regulatory shift is expected to increase the dominance of USDC in the European market, as Circle, its issuer, secured the necessary licensing several months ago.

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Bitcoin Uncertain Future: Bull Run or Risky Downturn Ahead?

Gushiken Yona — Thu, 27 Feb 2025 17:16:28 +0000

The current market position of Bitcoin sits precariously at the “bull-bear boundary,” according to recent on-chain analysis, prompting a critical debate: is the leading cryptocurrency heading into an extended bull run, a period of consolidation, or a potential downtrend? The answer, experts say, hinges on demand dynamics over the coming weeks.

Bitcoin Bullish Uncertainty

The cryptocurrency market is currently fixated on the next move of Bitcoin, the world’s first-ever and largest crypto asset by market capitalization. After a period of significant price appreciation, on-chain indicators – metrics derived directly from the Bitcoin blockchain – are flashing mixed signals, creating uncertainty about the sustainability of the current bull market.

Ki Young Ju, Founder and CEO of CryptoQuant, a prominent on-chain analytics firm, described the situation as being at the bull-bear boundary. “I expect this to be the longest bull run in history, but I could be wrong,” Ki stated in a recent analysis.

“We need at least another month of data to confirm whether we’re entering a bear market. If demand doesn’t recover, indicators may fully signal a downtrend.”

Ki’s analysis centers on the relationship between Bitcoin’s market capitalization (the total value of all circulating Bitcoin) and its realized capitalization (the total value of all Bitcoins at the price they were last moved). The difference between these two metrics, known as the growth rate difference, provides insights into market sentiment and potential turning points.

Bitcoin On-Chain Indicators: A Mixed Bag

The chart provided by Ki illustrates this growth rate difference over time, highlighting periods of bull markets (green) and bear markets (red). The current period shows Bitcoin’s market cap (blue line) hovering above the growth rate difference, a situation that historically precedes both significant price increases and sharp declines.

Credit: Ki Young Ju

Another key indicator is the “Hash Price,” which reflects the profitability for BTC miners. CryptoQuant Author @Woo_Minkyu pointed to periods where the Hash Price fell to lower levels (indicated by blue boxes on the chart). These periods, historically, have coincided with Bitcoin price bottoms.

“The sections highlighted in the chart (blue boxes) represent periods when the Hash Price fell to lower levels, coinciding with times when Bitcoin prices were also at or near their lowest points,” @Woo_Minkyu explained. “Historically, these lower Hash Price periods have aligned with the bottoms of BTC prices, suggesting that the current low Hash Price might be signaling that BTC’s price is nearing a bottom as well.”

Credit: 우민규 Woominkyu

This seemingly contradictory signal – a potential bottoming out even as the overall market hangs in the balance – highlights the complexity of interpreting on-chain data.

The Two-Year Cycle and Future Projections

Ki’s analysis also incorporates the concept of a typical two-year cycle in BTC’s price history. Based on this cyclical pattern, he had previously projected that the bull market could extend until April 2025.

However, he emphasized the critical importance of the next month or two. A sustained lack of demand, reflected in the on-chain indicators, could invalidate this projection and signal a shift towards a bearish trend.

“If every indicator confirms a downtrend, I’ll admit I was wrong and post about it,” Ki conceded, underscoring the data-driven nature of his analysis. He added a caveat, stating “I think the chances of dropping below 77K are low. Even in the worst case, I see a high probability of consolidating around 77K for a few months before moving back up.”

Market Sentiment and Risk Management

The current uncertainty has led to a cautious approach among many investors. Ki advises against heavy reliance on leveraged directional bets (either long or short positions) in the current environment, indicating that the risk/reward ratio is not favorable.

The coming weeks will be crucial in determining whether BTC can sustain its upward momentum, consolidate at current levels, or succumb to bearish pressure. The interplay of these factors will ultimately determine whether Bitcoin’s current position is a springboard for further growth or a prelude to a more significant correction.

The post Bitcoin Uncertain Future: Bull Run or Risky Downturn Ahead? first appeared on The Shib Daily.

Trillions Traded, Bullish Shiba Inu Trend Emerges

Gushiken Yona — Mon, 06 Jan 2025 08:37:37 +0000

A bullish trend emerges for Shiba Inu as trillions in trading volume pour in, suggesting a ripe moment for potential gains.

Shiba Inu Shows Market Strength

Data from financial services platform IntoTheBlock revealed the magnitude of the market’s recent activity, showcasing that trillions of Shiba Inu (SHIB) tokens have changed hands in the past week. On January 3, the network recorded a peak of 2.59 trillion SHIB transacted, highlighting an influx of capital into the SHIB ecosystem.

While the volume saw a temporary pullback to 1.09 trillion SHIB by January 5, the persistent high level of trading activity signifies a robust market with substantial interest. This shows the strength of Shiba Inu and its ability to handle large-scale transactions.

Bullish Sentiment: Community Backing and Market Confidence

Adding to the positive indicators is the overwhelming bullish sentiment expressed by the Shiba Inu community on CoinMarketCap. With 89% of over 160,000 votes reflecting a positive outlook for Shiba Inu’s future, the community’s belief in the cryptocurrency is evident.

While IntoTheBlock’s data showed a slight bearish sentiment, the strong community sentiment indicates an overall confidence in the dog-themed altcoin’s potential. This difference in data can also be an indication of the traders’ cautious approach, while the community as a whole shows a strong underlying support.

Shiba Inu Recent Price Gains

The price action also supports the narrative of an emerging bullish trend. Despite a minor dip of 0.73% in the last 24 hours, the price of Shiba Inu has surged by 10.54% over the past week, as of 3:16 a.m. ET on Monday, according to data from CoinMarketCap.

This upward trajectory demonstrates the positive momentum within the market and the potential for significant price appreciation. This weekly increase also indicates a recent surge within the market.

Setting the Stage for Growth

The combination of these factors—trillions in trading volume, an overwhelmingly bullish community, and significant recent price gains—paints a compelling picture of a market primed for further growth. The initial surge in volume shows interest from investors, while the community shows long-term confidence and commitment.

This overall bullishness is also reflected in the weekly gain of the cryptocurrency, which indicates an emerging bullish trend. These market conditions present an opportunity for Shiba Inu investors.

For investors, these data points collectively suggest that Shiba Inu currently presents a significant potential opportunity. The robust trading volume, strong community support, and positive price action signal a market that is responsive and shows an overall positive sentiment.

While all markets, especially in the cryptocurrency space, entail risk, Shiba Inu currently shows positive indicators that point to an opportunity for growth.

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EBA: New Rules for Crypto and Payment Firms on EU Sanctions

Vanessa — Fri, 15 Nov 2024 18:27:28 +0000

The European Banking Authority (EBA) has published comprehensive guidelines requiring payment service providers (PSPs) and crypto-asset service providers (CASPs) to enhance their compliance with EU and national sanctions.

The rules, set to take effect on Dec. 30, 2024, aim to tighten governance and risk management frameworks to prevent circumvention of restrictive measures and safeguard the EU financial system.

EBA Guidelines: Key Details

Released on Nov. 14, the guidelines mandate PSPs and CASPs to implement reliable screening systems for fund and crypto transfers to identify and mitigate risks associated with sanctions violations. Institutions are required to establish clear policies to manage operational, legal, and reputational risks arising from deficiencies in internal controls. The EBA emphasized that weaknesses in compliance could undermine the EU’s restrictive measures regimes, posing threats to financial stability.

The guidelines also address the interplay between sanctions compliance and broader governance structures, advising institutions to integrate these measures into their existing risk management frameworks. PSPs and CASPs must actively monitor transactions for suspicious activities and ensure that their systems can adapt to evolving sanctions requirements.

Legal Basis and Context

These measures follow the European Commission’s legislative package introduced in 2021 to overhaul the EU’s Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT) framework. The regulations, adopted in June 2023, include stricter reporting requirements for fund and crypto transactions and direct the EBA to provide actionable guidelines for financial institutions.

The EBA’s initiative seeks to ensure a unified application of EU law across the financial sector while minimizing risks to compliance and operational integrity. By addressing vulnerabilities in both traditional and digital finance, the EBA highlights its commitment to protecting the EU financial ecosystem from exploitation and enhancing transparency across PSPs and CASPs.

Vanessa has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Daily is an official media and publication of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

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China Tech Sector Embraces Bitcoin, Raising Questions About Crypto Policy Shift

Gushiken Yona — Tue, 12 Nov 2024 10:28:25 +0000

Despite years of strict regulations and a crackdown on crypto, China’s tech sector is showing a growing appetite for Bitcoin. Nano Labs Ltd, a leading integrated circuit design company, has announced it will accept Bitcoin payments for its products. The move creates a fascinating contradiction, raising questions about China’s evolving policy on digital currencies and the increasing influence of crypto globally.

The company, listed on the Nasdaq as NA, opened a Coinbase account and is now accepting Bitcoin, marking a significant step towards embracing the latest in financial technology and enhancing its global transaction capabilities. The news came amid whispers that China could be on the verge of loosening its tight grip on cryptocurrencies.

While the Asian nation has maintained a strict regulatory framework prohibiting institutions from engaging in crypto transactions and mining activities for years, recent developments suggest a possible change in approach. “In response to the increasing demand for digital currency transactions in the technology sector, Nano Labs has taken this step to provide clients and partners with greater payment flexibility,” the company said in a statement.

This move followed a series of recent hints that China might be rethinking its stance on crypto. Last week, China Central Television (CCTV) reported that U.S. President Donald Trump has promised to make the US the world’s “Bitcoin and crypto capital” and establish a strategic Bitcoin reserve, highlighting the growing international interest in digital currencies.

Additionally, former Deputy Finance Minister Zhu Guangyao has publicly called for a reassessment of China’s approach to digital currencies, suggesting the country might align its policies with global trends favoring wider crypto adoption.

“As cryptocurrency adoption continues to grow, particularly among businesses seeking efficient and secure cross-border transactions, the Company’s acceptance for payments in Bitcoin highlights its proactive stance in the evolving digital economy,” added Nano Labs in its statement.

Despite its restrictive policies, China has been a major player in the global crypto landscape, controlling over half of the Bitcoin network’s hashrate. Nano Labs’ decision to accept Bitcoin could be seen as a strategic move to tap into this market and signal a potential shift in the country’s approach to crypto.

However, it’s important to note that Nano Labs’ acceptance of Bitcoin doesn’t necessarily signify a complete change in China’s policy. The government could still be exploring different avenues for regulating digital assets while cautiously observing the global crypto landscape.

The coming months will be critical for observing how China’s approach to cryptocurrencies evolves. Nano Labs’ decision to accept Bitcoin payments could be a significant indicator of future trends in the country’s crypto landscape.

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Shiba Inu Unleashes Fury: Breakout Potential Sparks Bullish Frenzy

Gushiken Yona — Tue, 12 Nov 2024 08:04:53 +0000

The meme-inspired cryptocurrency, Shiba Inu (SHIB), is showing signs of a potential breakout, sending a jolt of energy through the crypto market.

A recent analysis by a crypto analyst, Bullish Banter (@bullishbanter01 on Twitter), has ignited a wave of optimism, suggesting that SHIB could be poised for a significant price surge. The analysis, shared on X, centered on the recent price action of SHIB, particularly its performance this month.

Bullish Banter pointed to a potential breakout pattern emerging from the coin’s price chart, noting that if SHIB manages to maintain its current price level above $0.00002, it could establish a solid support level, setting the stage for further upside.

“If $SHIB holds above $0.00002, we could see a solid support level forming for further upside,” the analyst tweeted. “Watch for retests of previous highs and a potential consolidation in the highlighted supply zone,” they added, referring to a specific price range on the chart where the coin may experience a temporary slowdown before resuming its upward trajectory.

The analyst believes that bulls, or investors who are optimistic about the coin’s future, could drive SHIB higher if the support level holds. However, he also cautioned that the coin may experience a period of consolidation in the highlighted supply zone before potentially breaking out to new highs.

“Bulls might push HIGHER,” they noted.

Bullish Banter’s analysis fueled optimism among SHIB investors, with many taking to social media to discuss the potential breakout pattern and its implications for the coin’s price. However, it’s important to note that technical analysis, while informative, is not a foolproof indicator of future price movements. Market conditions can change rapidly, and unpredictable factors can impact price action.

Despite the analyst’s optimistic outlook, it’s essential to remember that the crypto market is volatile and unpredictable. While SHIB has shown signs of strength, it remains to be seen whether the coin will follow the breakout pattern predicted by Bullish Banter. Investors should always exercise caution and conduct thorough research before investing in any cryptocurrency.

As of 3:02 a.m. ET Shiba Inu experienced a significant surge, with its price climbing 15.53% in a single day to reach $0.00002901. This momentum has been building over the past week, resulting in a 64.67% price surge, and over the past month, the coin has skyrocketed 62.79%, as per CoinMarketcap’s data.

The increased trading activity, with a 24-hour volume of $5.34 billion, has driven Shiba Inu’s market capitalization to $17.09 billion, a 15.87% increase from the previous day. This surge is likely fueled by a combination of factors, including positive technical indicators, increased investor interest, and a growing sense of bullish sentiment surrounding the meme coin.

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Why is Shiba Inu Surging? Shytoshi Kusama Reveals the Secret

Gushiken Yona — Mon, 11 Nov 2024 10:37:03 +0000

Shiba Inu is defying gravity, soaring alongside major crypto assets, and everyone’s wondering why. Shytoshi Kusama, the visionary behind the Shiba Inu project, offers an intriguing explanation, revealing the secret behind SHIB’s remarkable surge and hinting at a future that transcends its meme coin origins.

Over the weekend, Kusama took to X (formerly Twitter) to address the surprising price action. “For those baffled as to why a meme like #SHIB could rally alongside the big bois… it’s time we showcased the power, technologies, and innovative thinking that led us through the bear market,” Kusama said.

This comment suggested that SHIB’s recent success was not merely a product of market hype, but rather a reflection of the project’s underlying strengths and long-term vision. On Sunday, Shiba Inu’s price reached $0.00002569, a remarkable 32.60% increase in 24 hours.

This surge also represented a 56.11% gain over the past week and a 49.15% increase over the last month. Year-over-year, SHIB delivered an impressive 212.87% return.

Since its inception, the token boasted an astronomical return of over 1,934,605%, showcasing its potential for explosive growth, though not without significant volatility. This rally was further fueled by a surge in trading volume, which exploded by 306.84% in 24 hours to reach $2.66 billion.

This dramatic increase indicated heightened investor interest and participation in the Shiba Inu project. As a result, SHIB’s market capitalization climbed by 32.32%, reaching $15.10 billion and solidifying its position as a major cryptocurrency.

Shiba Inu’s ecosystem distinguished itself from other meme coins through its comprehensive features. Unlike others, it has a bleeding-edge tech stack. ShibaSwap, its decentralized exchange (DEX), allowed users to trade SHIB and other tokens like BONE and LEASH, among others, offering staking, liquidity provision, and governance functions.

Shibarium, the project’s layer-2 scaling solution, aimed to reduce transaction costs and improve speed on the Ethereum network, supporting expansion into DeFi and gaming. Shiba Inu also has its own games team, responsible for developing new games and moving them into Web3.

The project’s ambitions also extended into the metaverse with SHIB: The Metaverse, (not yet launched) allowing users to purchase and develop virtual land plots. This aligned with broader Web3 trends of immersive digital spaces.

Doggy DAO, Shiba Inu’s governance platform, empowered ecosystem token holders to vote on proposals, emphasizing community-led development. The recent Shib Nation State concept further reinforced this ethos, aiming to create a unified community identity.

Furthermore, Shiba Inu announced a layer-3 privacy solution powered by its partner ZAMA’s Fully Homomorphic Encryption (FHE). It also partnered with D3 to introduce “Shib Name,” a “*.shib” domain extension serving as a Web3-native identifier for SHIB holders, streamlining cross-platform interactions. This initiative aims to establish a decentralized DNS-based identity framework, potentially bolstering user security and ecosystem utility.

Shiba Inu’s future trajectory depends on market dynamics and continued development. However, the recent price surge and Kusama’s emphasis on technology and innovation signal a move beyond its meme coin image, warranting close monitoring by market participants to assess its potential and navigate the associated risks.

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‘Market Maker’ CEO and Partners Face Wire Fraud and Crypto Market Manipulation Charges

Gushiken Yona — Sun, 03 Nov 2024 10:39:51 +0000

A dark cloud hangs over the cryptocurrency “market maker” Gotbit. CEO Aleksei Andriunin and two of his partners face federal charges of wire fraud and market manipulation, casting a stark light on the shadowy practices that can plague the crypto market.

The Justice Department alleged a sophisticated scheme involving wash trading to artificially inflate trading volumes, potentially impacting popular meme coins like Saitama and Robo Inu. The indictment, unsealed this week, accuses Andriunin, 26, along with Gotbit directors Fedor Kedrov and Qawi Jalili, of orchestrating a multi-faceted fraud.

At the center of the scheme, prosecutors alleged was a code developed by Andriunin specifically designed for wash trading. This practice involves creating artificial trading activity by simultaneously buying and selling the same asset, creating a false impression of high volume and liquidity.

In a 2019 interview, Andriunin allegedly boasted about this code, explaining how it was used to inflate trading volumes for cryptocurrencies seeking listings on platforms like CoinMarketCap and larger exchanges. This alleged manipulation aimed to create a deceptive appearance of popularity and legitimacy, potentially luring unsuspecting investors.

The indictment further claims that Andriunin meticulously documented Gotbit’s market manipulation activities, maintaining spreadsheets that compared the artificially generated “Created Volume” with the legitimate “Market Volume.” This detailed record-keeping, prosecutors argue, demonstrates a clear intent to deceive.

The alleged scheme extended beyond Gotbit’s internal operations. Andriunin, Jalili (Director of Sales), and Kedrov (Director of Market Making) allegedly marketed these wash trading services to prospective clients, explaining how Gotbit used multiple accounts to avoid detection on the public blockchain. Prosecutors allege that Gotbit executed millions of dollars worth of wash trades for clients, receiving tens of millions of dollars in proceeds for these fraudulent services.

Among Gotbit’s clients, according to the indictment, were the leadership teams of the Saitama and Robo Inu cryptocurrency projects, who are facing separate charges. These meme coins, known for their volatile price swings and enthusiastic online communities, were potentially vulnerable to manipulation.

Finally, the indictment alleges that Andriunin transferred millions of dollars of Gotbit’s illicit proceeds into his personal Binance account, further implicating him in the alleged scheme. If convicted of wire fraud, Andriunin, Kedrov, and Jalili face a maximum sentence of 20 years in prison, three years of supervised release, a fine of up to $250,000 or twice the gross gain or loss from the offense, restitution, and forfeiture.

The case, brought by the U.S. Attorney’s Office for the District of Massachusetts, underscores the increasing scrutiny of cryptocurrency markets and the Justice Department’s commitment to pursuing those who engage in fraudulent activities.

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Retail Bitcoin Investors: Snoozing Through the Party (Again)?

Gushiken Yona — Sat, 26 Oct 2024 16:08:16 +0000

So, the whales are splashing around in the Bitcoin pool, while retail investors are… well, mostly chilling on the sidelines, sipping their lukewarm lemonade.

According to CryptoQuant, retail Bitcoin holdings are growing slower than a snail in a molasses factory. Apparently, only 1,000 BTC have been added to retail wallets in the last 30 days. That’s like finding a penny on the sidewalk – exciting, but hardly life-changing.

Meanwhile, the big fish are gobbling up Bitcoin like it’s going out of style, adding a whopping 173,000 BTC since the start of the year. Retail? A measly 30,000 BTC. It’s like showing up to a buffet after the football team has already been through. All that’s left are wilted lettuce and a few stray cocktail weenies.

But here’s the twist: CryptoQuant says this lack of retail activity might actually be a good thing. Apparently, low Bitcoin transfer activity among retail investors has historically preceded price rallies. So, is this the calm before the storm? Are the retail masses secretly accumulating Bitcoin in their underground bunkers, waiting for the perfect moment to unleash their diamond hands?

But, hang on, this might not be a bad thing! Historically, when retail investors barely budge, Bitcoin price rallies have a habit of popping up like clockwork. So maybe this retail “sloth strategy” is actually a sign of smarter moves ahead? Or perhaps retail investors are simply so worn out from the rollercoaster of 2022’s bear market that they’ve become long-haul hodlers by default.

Or are they just… clueless? Have they finally given up on trying to time the market? Are they too busy chasing the next shiny memecoin? Or maybe they’re just exhausted from years of emotional rollercoaster rides and decided to stick with their index funds. Who can blame them?

This begs the question: Is retail’s absence a bullish signal, or a sign that the average investor has finally lost faith in Bitcoin’s moon potential? Are we witnessing the dawn of a new Bitcoin era, driven by institutional adoption, or are we just setting ourselves up for another round of “I told you so” from the crypto veterans? Only time will tell.

Disclaimer: This article is not here to shame retail investors or encourage procrastination. Remember, not moving your BTC isn’t “strategy” unless you actually have a plan. Don’t come crying if you FOMO at the top!

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Crypto.com Launches Legal Challenge to SEC’s Crypto Crackdown

Gushiken Yona — Wed, 09 Oct 2024 06:14:53 +0000

Crypto.com throws down the gauntlet, launching a legal salvo against the U.S. Securities and Exchange Commission. The cryptocurrency exchange seeks to halt what it calls an “unjust” regulatory crusade, escalating a battle that is reshaping the future of digital assets in America.

The Singapore-based company filed suit against the SEC just days after receiving a Wells notice, a harbinger of potential enforcement action. Crypto.com’s aggressive move, announced in a blog post on Tuesday, marked a dramatic escalation in the ongoing tension between the cryptocurrency industry and regulators.

The firm argued the SEC had overstepped its bounds, unilaterally expanding its jurisdiction over digital assets and crafting rules without proper public input. Crypto.com pointedly challenged the SEC’s seemingly arbitrary distinction between Bitcoin and Ether, which the agency has generally refrained from classifying as securities, and other cryptocurrencies, which the SEC frequently targets.

The exchange argued that many digital assets share similar characteristics with Bitcoin and Ether and are sold in the same manner, yet face different regulatory scrutiny. Echoing a growing chorus of industry discontent, Crypto.com accused the SEC of “regulation by enforcement,” a tactic it claimed stymied innovation and threatened the future of the crypto industry in the United States.

The company’s CEO, Kris Marszalek, amplified this message on X (formerly Twitter), criticizing the SEC’s “unauthorized overreach” and declaring the company “very bullish” on the American crypto market despite the regulatory headwinds. This legal broadside was not fired in isolation.

Crypto.com joined a growing rank of crypto firms, including Coinbase and Consensys, that have taken the SEC to court. These companies contended that the SEC’s approach lacked clarity and consistency, creating a chilling effect on the nascent industry.

Consensys, for example, filed suit in April, challenging, among other things, the SEC’s stance on Ether. Coinbase has launched multiple legal actions against the SEC, accusing the agency of refusing to establish clear rules for digital assets.

In a parallel maneuver, Crypto.com’s derivatives arm, Crypto.com | Derivatives North America (CDNA), petitioned the SEC and the Commodity Futures Trading Commission (CFTC) for a joint interpretation of the regulatory status of certain cryptocurrency derivatives. This petition invoked the Dodd-Frank Act, seeking to clarify whether these products fell under the jurisdiction of the CFTC, the SEC, or both.

Crypto.com emphasized its commitment to compliance, highlighting its registration with FinCEN as a money services business, its numerous state money transmitter licenses, and CDNA’s registration with the CFTC. The company portrayed its lawsuit not as an act of defiance but as a necessary defense against what it considered regulatory overreach. It expressed confidence that its strong compliance record and recent court rulings against the SEC would bolster its case.

Despite the legal battle, Crypto.com insisted it was “business as usual,” continuing its mission to “put crypto in every wallet.” The company’s lawsuit, however, signaled anything but business as usual in the broader crypto landscape. The clash between the industry and the SEC was intensifying, with potentially far-reaching consequences for the future of digital assets in the United States.

ShibaCon, a vision of Shiba Inu creator Ryoshi, is set to make history in Thailand. Join the movement and be part of this landmark event in November. Tickets are available now at shibacon.shib.io.

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Is This Memetober Already? Shiba Inu Could Surge By 351%, Analyst Predicts

Gushiken Yona — Sat, 05 Oct 2024 08:34:03 +0000

The scent of a potential price pump hangs heavy in the digital air. A blend of speculation and excitement that whispers of meme magic. Is Memetober already upon us? One analyst thinks so, pointing to the recent price action of Shiba Inu and predicting a potential 351% surge that could send the dog-themed token to the moon.

Shiba Inu (SHIB), the popular dog-themed altcoin, has shown renewed strength in recent trading, breaking out of a falling wedge pattern, according to crypto analyst Javon Marks (@JavonTM1 on X).

Marks, (@JavonTM1 on X), told their nearly 43K followers, the significant upside potential for Shiba Inu (SHIB), forecasting a potential price surge exceeding 351% after a breakout from a falling wedge pattern. Specifically, Marks pointed to SHIB’s recent trading activity, highlighting a distinct pattern emerging on the price charts.

“$SHIB (Shiba Inu)’s price is starting to return with strength here while continuing to hold broken out of a recently set falling wedge pattern,: the crypto analyst noted. “Next level can be coming in and it could lead into a massive, >351% move to our larger $0.000081 target,” they added.

A technical analysis of the chart revealed a falling wedge pattern, a formation characterized by two converging downward-sloping trendlines. This pattern typically suggested a period of price consolidation with decreasing volatility.

The upper trendline connected a series of lower highs, while the lower trendline connected a series of lower lows. Subsequently, SHIB’s price moved above the upper trendline of this wedge, a movement often interpreted as a bullish signal.

This breakout gained further significance when considered alongside SHIB’s prior price action. The chart showed a significant price spike before the formation of the falling wedge, followed by a period of decline.

This indicated that SHIB experienced a period of high volatility before it entered the consolidation phase represented by the wedge. Therefore, the recent breakout could have signaled a resumption of the previous upward momentum.

Marks derived his price target of $0.000081 by measuring the height of the falling wedge at its widest point and projecting that distance upward from the breakout point. This is a standard technique in technical analysis for estimating potential price targets after such breakouts.

The gray chart below the price chart likely represented trading volume. Although the image did not provide specific volume data, a breakout ideally should be accompanied by a surge in trading volume to confirm its validity and strength. Increased volume would indicate stronger conviction behind the price move.

Shiba Inu (SHIB) is experiencing a surge of activity, sparking renewed interest in the meme coin. As of 4:14 a.m. ET on Saturday, SHIB traded at $0.00001764, marking a 5.64% increase in value over the past 24 hours. This price jump coincides with a significant increase in trading volume, which surged by 25.29% to reach $502,934,611 within the same timeframe.

While the past week saw a slight dip of 9.39% in SHIB’s value, the overall trend remains positive, with a remarkable 30.73% surge over the past 30 days. This impressive monthly performance underscores the potential for significant price swings that characterize the volatile cryptocurrency market.

With a circulating supply of 589,267,460,469,649 SHIB, according to data from CoinMarketCap, the token’s market capitalization experienced a notable 5.66% increase, reaching $10,409,137,644. This substantial market cap reflects the growing interest and investment in SHIB, despite the inherent risks associated with meme coins.

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Uptober Blues: Can Crypto Overcome Market Anxieties and Geopolitical Strife?

Malaya Ruiz — Thu, 03 Oct 2024 19:07:11 +0000

Uptober, a term coined within the cryptocurrency community, typically describes a month of bullish activity and upward price movements. This usually takes place as the market prepares for the year-end rally. Historically, enthusiasts have looked forward to renewed investments, an increase in trading volumes, and various crypto-related events. This period typically includes major conferences and community meetups.

However, this year’s Uptober so far doesn’t seem to be taking off as anticipated. Several factors contribute to this stalled momentum, with geopolitical tensions—particularly the escalating conflict between Iran and Israel—remaining a significant concern. Such factors are currently weighing heavily on market enthusiasm.

According to well-known Bitcoin analyst Willy Woo, the mid-term market structure remains bearish, but it is actively moving toward neutrality while pursuing bullish momentum. He cautions that achieving a new all-time high (ATH) will take time. He added that short-term analysis suggests a 1 to 3-week pause to allow for a consolidation phase before the next bullish push. Moreover, Woo expressed skepticism about the optimistic prospect of “Uptober.” He predicts a sideways market in October followed by more engagement in November and December. Nevertheless, his long-term perspective remains positive.

Structure mid term is bearish moving to neutral and trying to get bullish. ATH will take time.

Short term structure suggests 1-3 wks stand down to cool off before the next bullish attempt.

I don’t think we get Uptober, sideways Oct, and Nov-Dec for laser eye parties.

Long term…
— Willy Woo (@woonomic) October 2, 2024

BTC’s October So Far: Uptober or Octobear?

According to Presto Research’s market brief released Wednesday, Bitcoin (BTC) faced its most difficult beginning to a month since 2013 on Tuesday. At one point, Bitcoin’s value plummeted by 6.5%, dropping from above $64,000 to approximately $60,100. Generally, the larger cryptocurrency landscape reflected this trend, where key assets like Ethereum, Solana, and XRP saw losses of between 8% and 10% at various intervals.

Furthermore, the brief highlighted Tuesday’s BTC price change, down 4%, while gold rose 0.8%, following Iran’s attack on Israel. It may seem confusing, especially after BlackRock’s recent comparison of BTC to gold as a safe asset with no “country-specific risk.” However, the short-term price shifts reflect their different maturity stages. The brief indicates that gold has a 5,000-year history as a stable store of value, leaving little room for growth. In contrast, BTC, with only 15 years of history, shares gold’s value attributes but is still early in its adoption phase. Its narrative allows for significant potential growth yet resembles the risk profile of a startup.

Bitcoin vs. Gold Debate Reignites as Crypto Market Faces Bearish Trends

Jeroen Blokland, founder of Blokland Smart Multi-Asset Fund and an advocate for scarce assets, pointed out in a post on X that investors are currently selling Bitcoin amid rising geopolitical tensions. This is likely due to increased uncertainty and an anticipation of flight to safety. Consequently, many investors reallocate their assets into gold, traditionally viewed as a stable store of value during turbulent times.

However, not everybody shares this sentiment. Samson Mow, CEO of game development firm Pixelmatic and Bitcoin tech company JAN3, begs to differ. He challenged Blokland’s stance, stating on X that the multi-asset fund CEO’s strategy of selling BTC to acquire paper gold is a misguided attempt to insulate against war. The reason, he said, is because investors may not be able to easily relocate gold if a real conflict occurs.

“Imagine trying to hedge against war by selling #Bitcoin to buy paper gold that you can’t move anywhere in the event of actual war,” he said.

This view somewhat aligns with that of Robbie Mitchnick, Head of Digital Assets for BlackRock, essentially describing BTC as an emerging alternative to traditional currencies worldwide. He noted that it is a scarce, decentralized non-sovereign asset. However, he mentioned that it is devoid of risks associated with specific nations and conventional counterparties, which doesn’t necessarily support current trends impacted by the ongoing Iran-Israel dispute.

#Bitcoin is an emerging global monetary alternative; a scarce, global, decentralized, non-sovereign asset. – Robbie Mitchnick, @BlackRock Head of Digital Assets pic.twitter.com/ZOkq2Whzqt
— Michael Saylor (@saylor) September 24, 2024

The Uptober Question: Will Historical Gains Outweigh Present Risks?

Wale.moca, a well-followed Web3 advocate on X, shared a more uplifting view. He noted that the significant price movements commonly associated with this month historically begin later than October 1st. “Don’t cancel Uptober yet. Believe in something,” he said, reminding the community of past patterns that suggest potential gains ahead.

The recent conditions of the cryptocurrency market in what is supposedly an Uptober trend underscore a complex interplay of market uncertainties and geopolitical factors. Global conflicts and economic fluctuations are testing the resilience of digital assets, causing concerns among investors. While historical patterns suggest October could bring positive momentum to cryptocurrency markets, current indicators reveal a cautious sentiment among stakeholders.

The extent to which cryptocurrencies can sustain investor confidence with all these external pressures remains to be seen. For now, investors are advised to approach the market with a balanced perspective. They are urged to recognize both the opportunities and risks inherent in this volatile environment.

ShibaCon, a vision of Shiba Inu creator Ryoshi, is set to make history in Thailand. Join the movement and be part of this landmark event. Tickets are available now at shibacon.shib.io.

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Uruguay Introduces Law to Regulate Crypto Market

Lawrence Damilola — Wed, 02 Oct 2024 16:07:03 +0000

Uruguay has officially introduced a law to regulate cryptocurrency, making it one of the few LATAM countries with a legal framework for crypto trading. The law, approved by parliament and signed by President Luis Lacalle Pou, grants the Central Bank of Uruguay supervisory powers over domestic crypto exchanges and operators.

According to reports from media outlets Ámbito Financiero and iProUP, the law provides the Central Bank with “supervisory and regulatory” authority over crypto-related activities, including registering crypto exchanges, fund managers, and wallet operators. The law also mandates adherence to anti-money laundering (AML) and counter-financing of terrorism (CFT) regulations. A registry system will be established, and permits will only be granted to firms meeting specific requirements.

The Uruguayan Fintech Chamber (CUF) called the law “an important framework of guarantees for the financial system.” The chamber also noted that it is a “significant milestone” for the country’s fintech sector, estimated to grow by 44% annually. However, the CUF stressed the need for more clarity from the Central Bank on how the new regulations will be implemented, stating, “It is now essential to understand how the Central Bank will implement this regulation.”

Industry figures expressed that introducing the law is a positive step. “For the first time in Uruguay, a basic framework has been established that recognizes and legislates on the existence of cryptoassets,” said the CUF.

The Central Bank began working on potential crypto regulations in 2021 and sent recommendations to the government, which were later amended and presented to parliament. The law was passed following parliamentary deliberations that concluded last month.

Other LATAM countries, such as Brazil, Venezuela, and Argentina, have previously enacted regulatory measures for the crypto sector. El Salvador, on the other hand, has taken a different approach by granting Bitcoin legal tender status.

Uruguay’s law introduces key changes to existing securities legislation, providing legal definitions for terms like “cryptoasset” and setting clear guidelines for crypto operators. Despite the law’s passage, the CUF stated that it is still waiting for details on “the forms and estimated deadlines” for the application of the regulations.

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Shiba Inu Defies September Slump, Rallies 30% Amid Overwhelmingly Bullish Sentiment

Gushiken Yona — Fri, 27 Sep 2024 00:33:42 +0000

In a display of remarkable resilience, the Shiba Inu cryptocurrency defied the broader September cryptocurrency market slump, staging a dramatic comeback in the latter half of the month and igniting a frenzy among investors.

Latest data from CoinMarketCap chronicled this surge: a 21.07% gain in the past 24 hours, a 31.40% jump over the week, and a stunning 34.26% climb over the past month. The meme-inspired token, once dismissed by some as a fleeting fad, now commands a market capitalization of over $10 billion and sits comfortably among the top 15 cryptocurrencies.

Adding fuel to the fire is the overwhelmingly bullish community sentiment, with a resounding 87% of 10,897 voters expressing optimism about the token’s future prospects. This wave of positive sentiment further reinforces the narrative of a Shiba Inu resurgence, potentially contributing to the ongoing price surge.

The Shiba Inu price chart showed a picture of two distinct phases. Initially, the price languished, trapped in a narrow trading range characterized by minimal gains and persistent selling pressure. This period, highlighted by the pale red shade on the chart, represented a frustrating sideways movement for investors, akin to a ship becalmed in the doldrums. The dotted line above this band signifies a key resistance level, a metaphorical ceiling that the price repeatedly failed to break through.

However, around September 16, the narrative shifted. Shiba Inu gathered momentum, finally breaching the resistance level in a decisive move marked by a brief green spike. This breakout, fueled by growing investor confidence and renewed interest, heralded the start of the remarkable rally that followed. The significance of this breakout cannot be overstated. It demonstrated a shift in market dynamics, with buying pressure overpowering selling pressure, allowing the price to escape the confines of the previous trading range.

From September 16 onward, the price action resembled an ascending staircase, each step higher than the last. The green line, representing the Shiba Inu price, climbed steadily, punctuated by occasional dips that are quickly absorbed by eager buyers.

The trading volume, indicated by the pale green area at the bottom of the chart, swelled dramatically, signaling a surge in participation as more and more traders joined the Shiba Inu bandwagon. This increase in volume validated the price movement, suggesting that the rally is supported by genuine buying activity rather than mere speculation.

The final days of September witnessed a breathtaking acceleration in the rally. Shiba Inu exploded upwards, shattering previous price records and leaving behind a trail of astonished onlookers. This vertical ascent, fueled by a combination of factors including positive news, social media buzz, and growing adoption, underscored the unpredictable nature of the cryptocurrency market. The sharp increase in the angle of the price line indicates a strong upward momentum, potentially leading to further gains in the near term.

Whether this extraordinary rally is sustainable remains to be seen. Market analysts and investors are divided, with some predicting a continued upward trajectory while others caution about a potential correction.

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CZ Is Coming Home: A Bull Run or Just Bull?

Lawrence Damilola — Sat, 14 Sep 2024 13:57:42 +0000

The crypto world’s favorite rogue founder, Changpeng “CZ” Zhao, is about to make his grand return to the wild west of blockchain! Set to be released from his “halfway house” on Sept. 29, 2024, CZ’s imminent release is sparking all kinds of speculation across the cryptosphere.

Will his return mark a bullish rally for the crypto market, or will it be just another episode in the ever-dramatic reality show of crypto?

For those who need a quick recap: CZ, the former CEO of Binance, has been chilling in a federal facility after pleading guilty to violations of the Bank Secrecy Act. In a blockbuster plea deal back in November 2023, Binance forked over a cool $4.3 billion in fines while CZ took a four-month timeout from his empire.

But wait—there’s more! As part of the deal, our crypto maverick got a lifetime ban from ever managing or operating Binance again. Yes, you heard it right, folks—a lifetime ban! So, while he might be free soon, don’t expect to see him behind the controls of the Binance spaceship anytime soon.

CZ coming home is a much more bullish event than CT realizes. He's a real hero crypto can rally behind

Unjustly imprisoned by an administration that can't even pronounce "Binance" and who thinks crypto is where they bury Egyptian Pharoahs, he sacrificed freedom for our ETFs pic.twitter.com/aZxnSGTuYU
— artchick.eth (@digitalartchick) August 18, 2024

Now, let’s talk market vibes. With the countdown to CZ’s release ticking away, crypto Twitter is buzzing louder than a blockchain node farm on overdrive. Many are hoping that CZ’s comeback will pump up the BNB price, which has already been making a modest recovery dance around the $500 mark.

And why not? After all, who doesn’t love a good redemption arc? “CZ is back, baby!” could be the tagline of this week’s meme parade. .

CZ's return is likely to trigger a major altseason, and you can start preparing for it right now. pic.twitter.com/V1ZtRQru5G
— Binan Smart Kid (@Binansmartkid) September 10, 2024

But hold your horses (or should we say crypto bulls?)—CZ won’t be returning to his throne at Binance. Nope! As part of his “I’m totally not going to run this company anymore” agreement, he’s barred from any managerial roles at Binance for life.

And yet, some enthusiasts are speculating about his next big move. Perhaps a new venture? Maybe he’ll pop up with a “Binance Lite” version that operates out of some undisclosed location—preferably on a private island. Or will he be starting a YouTube channel? “CZ Explains It All,” where he breaks down DeFi, dodges jail stories, and spills tea on crypto gossip.

The crypto community is eagerly waiting for Sept. 29, not just to see CZ walk free, but to see how this next chapter unfolds. Will the “CZ effect” propel Binance Coin to new highs, or is this just another chapter in the crypto soap opera we all love to watch? Tune in for upcoming updates in the forthcoming weeks, and as always, keep those diamond hands strong!

So, grab your popcorn and get ready for the show. The only thing guaranteed in crypto is that there’s never a dull moment!

Disclaimer: Before you YOLO your life savings based on a joke here, remember—we’re meme masters, not financial advisors! This article is just for laughs, not investment advice. Always do your research, or at least ask someone who won’t say, “I told you so.” And hey, if CZ starts a reality show, we want in!

The post CZ Is Coming Home: A Bull Run or Just Bull? first appeared on The Shib Daily.

Bitcoin Death Cross Looms: Saylor Says ‘Hold My Beer’ As He Forecasts $13M

Malaya Ruiz — Sat, 14 Sep 2024 13:56:11 +0000

In a stark contrast to its $74,000 all-time high back in March, Bitcoin recently took a hard nosedive, landing at around $56,000 as of September 11. That’s nearly a 25% drop! And let’s just say some indicators are sounding the alarm bells, warning us that it might dip even more in the weeks ahead. It has managed to catch its breath and is back up to $60,431 at the time of writing.

(Source: Coindoo)

Was that just a pit stop or will BTC experience an even lower dip in the near future as feared by some? Get ready to flip a coin because at this point, who knows, really?

Welp—apparently, someone does. It’s none other than Michael Saylor, who’s probably the most bullish guy in the world right now. Errr—always, to be precise! Let’s back up a little and review his bold prediction.

The Bitcoin Prophet

So last week, Saylor went out on a limb with a prediction that Bitcoin could soar to $13 million by 2045. Social media exploded with reactions, with some people seeing him as a visionary and others thinking he’s floating in cloud nine. Is it safe to say that when life gave him Bitcoin, he literally aimed for the stars? Because if you sign up for Name a Star, with $13 million you could name 10,000 stars after you at $100 apiece!

But here’s the reality right now. It seems Bitcoin is flirting with the possibility of a “death cross.” It’s that 50-day Exponential Moving Average (the fiery red wave) eyeing a possible dip below the 200-day EMA (that’s our calm blue wave). 🗠 When this happens, it usually means bearish vibes are creeping in. Take January 2022, for instance—that’s when Bitcoin decided to plummet about 60% after this cross formation. Right now, some spectators are saying it’s a very familiar pattern.

A #Bitcoin death cross is imminent!

Should we be worried? pic.twitter.com/OReGjTD2HD
— Crypto Rover (@rovercrc) September 12, 2024

The Other Michael’s Bitcoin Prediction

Investment consultant Michael van de Poppe had a bit of a gray cloud moment. He predicted a plunge to around $50,000 or, dare we say, even lower in the coming days—especially with the release of the U.S. CPI report. He’s convinced, however, that there’s a reversal time coming.

But as for the other Michael, well, he went on TV to say Bitcoin could hit $13 million! Before you start thinking he’s lost it, to be fair, he meant in the next two decades or so. He thinks it’ll be trading at S&P 500 levels, plus an extra 8% for a dash of flair. His prediction also includes Bitcoin’s share of the global capital leaping from a tiny 0.1% to a roaring 7%. Wild or mild? You decide!

HOLY SHIT!

MICHAEL SAYLOR SAID THAT #BITCOIN IS GOING TO F*CKING $13,000,000 ON LIVE TELEVISION!!! pic.twitter.com/MsXMGpK7Uq
— Kyle Chassé (@kyle_chasse) September 9, 2024

Honestly, it’s hard to argue with Saylor when everybody knows MicroStrategy has been hoarding Bitcoin, building a hefty $8.3 billion stash since August 2020. Just a few days before his bold prediction on CNBC, he tweeted a very short but sweet, “You do not sell your #Bitcoin.”

Guess we’re just going to have to get used to being treated to his catchy one-liners every now and then. At least it keeps the fudders at bay and brings a little chill to the BTC crowd!

But what do you think? Is his claim outrageous or is he spitting straight facts?

Disclaimer: This article does not contain financial advice, nor does it have THE Michael Saylor lurking in the background to whisper the secrets of the Bitcoin universe to you. Whether you decide to sell or HODL your Bitcoin is entirely up to you! Please remain calm; channel your inner Zen master when making choices—after all, a clear mind is the best wallet you can carry.

The post Bitcoin Death Cross Looms: Saylor Says ‘Hold My Beer’ As He Forecasts $13M first appeared on The Shib Daily.

Bitcoin Faces Uncertain Future Amid Shifting Tides

Gushiken Yona — Wed, 11 Sep 2024 16:36:45 +0000

The Bitcoin market finds itself at a crossroads, navigating a turbulent landscape of fluctuating investor sentiment and a complex macroeconomic backdrop.

Shubh Varma, CEO and Co-founder of Hyblock Capital, warned of heightened volatility in a recent market report, while also highlighting potential opportunities for the leading cryptocurrency amid shifting winds.

Bitcoin Market Sentiment Remains Volatile

Varma’s analysis painted a picture of a market characterized by rapid and dramatic swings in sentiment. “Market sentiment has been rapidly shifting, moving from greed to fear, and even briefly touching ‘extreme fear’,” he noted in a report shared with The Shib Daily.

“These extreme moments, however, often led to bullish reversals, showcasing how reactive the market has become to short-term price movements and minor news events.” This sensitivity, he argued, underscored the fragility of current market conditions and the tendency of traders to overreact to even minor fluctuations.

However, Varma also pointed to several macroeconomic factors that could provide a tailwind for Bitcoin. The Federal Reserve’s likely path of interest rate cuts, with a 50 basis point reduction already on the table and further cuts planned through 2026, could create a more favorable environment for risk assets like Bitcoin.

On-Chain Data Hints at Bullish Potential for Bitcoin

He also highlighted the market’s tendency to overreact to events like the recent U.S. Non-Farm Payrolls report, which could present opportunities for savvy investors. On-chain data also offered some positive signals, according to Varma.

“One interesting indicator in the market was the combined order book liquidity (which includes limit buys and sells),” he observed. “Recently, the liquidity in these order books has been relatively low, a signal often associated with bullish potential.”

This suggested that it could become easier to push Bitcoin’s price higher, especially with “the global bid-ask ratio across 1,400+ tickers remaining consistently positive, even as Bitcoin’s price declined,” indicating robust underlying demand. Varma identified potential volatility around the $58,500 price level, where “high-leverage liquidity zones” could act as magnets for price action.

Vote for #Bitcoin pic.twitter.com/dDxQnpm3K3
— Michael Saylor (@saylor) September 11, 2024

“It would not be surprising to see Bitcoin gravitate toward these levels, which could lead to increased volatility and opportunities for traders,” he predicted. The upcoming U.S. presidential election also added another layer of uncertainty, with the potential for market reactions to the Trump vs. Kamala debate.

While a Trump victory is often perceived as bullish for crypto, Varma cautioned that this sentiment “may already be priced into the market.” Varma’s analysis presented a nuanced view of the BTC market, acknowledging the potential for volatility while also highlighting underlying strength and potential upside.

“The mix of macroeconomic factors, sentiment shifts, and liquidity data painted a picture of a market poised for volatility but with underlying strength that could lead to upside movements in the coming weeks,” he concluded.

Bitcoin Nudges Higher Amidst Lingering Uncertainty

At midday Wednesday, Bitcoin showed signs of life, edging into positive territory after a period of subdued trading. The leading cryptocurrency was trading at $56,965.80, a 0.41% increase on the day, as trading volume surged by 7%, reaching $35.85 billion over the past 24 hours.

Despite the modest uptick, BTC’s recent performance remains lackluster. The digital asset is down 2.18% over the past week and has suffered a more significant 4.90% decline over the past 30 days, reflecting the broader uncertainty that has gripped the cryptocurrency market.

However, BTC’s market capitalization, a key measure of its overall value, managed to hold above the psychologically significant $1 trillion mark, rising by 0.35% to reach $1.12 trillion, according to data from CoinMarketCap. This resilience suggests that despite the recent price weakness, investor confidence in BTC’s long-term prospects remains relatively strong.

With a circulating supply of 19,752,784 BTC, Bitcoin continues to dominate the cryptocurrency landscape, accounting for a significant portion of the total market value. Its price movements are closely watched by investors and traders alike, as they often serve as a bellwether for the broader crypto market.

The post Bitcoin Faces Uncertain Future Amid Shifting Tides first appeared on The Shib Daily.

Smart Money Strategy: Constructive Investing or a Tool for Market Manipulation?

Malaya Ruiz — Sat, 10 Aug 2024 14:15:25 +0000

In the wake of a market correction that knocked off more than $200 billion in crypto asset value, guess who swooped in for the steal? Yes, you guessed it right, it’s the institutional investors charging in with their wallets wide open.

A crazy market downturn that caused many people to shudder and panic-sell seemed like nothing but a garage sale to the smart money club!

We sincerely hope they’re not laughing at panic sellers from their high-rise buildings while drinking their Screaming Eagle Cabernet Sauvignon and booking their next luxury flight to God knows where. They can stay off-grid for so long, only to resurface for the next dip and win at life again. Whoo!

JUST IN: JP Morgan says Institutions bought the dip while Retail panic-sold aggressively.

Retail sold -$1 BILLION
-2.5 standard deviations BELOW the 12m average

Institutions bought +$14 billion
+2.9 std dev ABOVE the 12m average pic.twitter.com/4rDyNCbq0t
— Radar 𝘸 Archie (@RadarHits) August 6, 2024

But before we dissect this upper-crust investment strategy, it’s time for a little who’s who in this super-elite club! These are institutional investors, high-net-worth individuals, and a few seasoned pros who can probably code Bitcoin in their sleep. These savvy investors know their digital assets like the back of their hand, and when they make a move, the rest of us perk up because they’re major trendsetters, whether it’s in stocks or crypto.

So while they’re doing all that, the commoners are hoping to catch a peek at their secret stash. And while we say “commoners” so it hurts less, memes peg them as “peasants” instead!

Source: @BitcoinLaKoon

Hate to admit it but when a wallet with an impeccable investment record scoops up 4,000 ETH just like that – having bought and sold ETH seven times between November 2022 and May 2024 – that investor can call me a peasant any day.

Even with that, however, Bitcoin is still the shiny toy that institutional investors can’t resist. The trading volume for Bitcoin is almost three times that of Ethereum. Lest we forget, BTC whales bought $1.4 billion in Bitcoin in less than 24 hours! Guess when. Exactly! It’s all thanks to a little thing called a market dip.

Smart Money vs. Scared Money

But wait (oh thank God, there’s a “but”)! A growing number of people who are eager to become whistleblowers are not just going to watch idly. They believe this isn’t a fluke but history that keeps repeating itself, meaning the top 1% enjoys their wealth at the expense of the 99% referred to in memes as “peasants” – those with average portfolios who can only imagine what life is like up there. The whispers going around in this class are about how that power game really needs to be called out for what it is.

Some are saying this is quite normal actually. You know, they stir up a little chaos and then bounce in for the steal. Ask the 99% about the aristocracy’s oldest trick in the book. They’ll most likely say, “Sell high (institutions), get everyone to panic (retail), then buy low (institutions).” Business as usual for the smart money, eh?

What’s your take on smart money concepts? Is the power game a conspiracy theory or is the scrutiny warranted? Critical thinking and doing your own research are always your go-to buddies!

Disclaimer: This article is not trying to ruffle the feathers of the 99%. If the meme called you out, remember that it called us out first! If you find yourself wanting to aim for the 1%, good for you. If you prefer being in the cozy 99%, good for you still. No harm done as long as you DYOR at all times!

The post Smart Money Strategy: Constructive Investing or a Tool for Market Manipulation? first appeared on The Shib Daily.

Hackers Buy the Dip Amid Crypto Bloodbath

Gushiken Yona — Mon, 05 Aug 2024 17:15:36 +0000

As the cryptocurrency market grapples with a severe downturn, a darker trend has emerged: hackers exploiting the volatility to amass digital fortunes. While legitimate investors are reeling from significant losses, cybercriminals are capitalizing on the chaos, using stolen funds to accumulate vast cryptocurrency holdings.

The recent market plunge, characterized by steep declines in major cryptocurrencies like Bitcoin and Ethereum, has created a perfect storm for these malicious actors. With prices at rock bottom, hackers are scooping up digital assets at bargain prices, further exacerbating the challenges faced by the crypto community.

One such example is the infamous Nomad Bridge Exploiter. This individual, or group of individuals, responsible for a $200 million heist on the Nomad bridge back in 2022, resurfaced on Monday.

As the crypto market went into freefall, the exploiter saw an opportunity. Using stolen DAI, a stablecoin pegged to the U.S. dollar, they scooped up a staggering 16,892 Ethereum (ETH) at a massive discount.

The exploit didn’t stop there. Data from blockchain analysis firms PeckShield and Lookonchain revealed further activity by the hacker.

They shuffled the stolen ETH through an intermediary address before ultimately sending a portion, valued at around $7 million, to Tornado Cash. This notorious mixing service allows users to anonymize their cryptocurrency transactions, further obfuscating the trail of the stolen funds.

This isn’t an isolated incident, however. Adding complexity to the situation, funds linked to the Pancake Bunny hack from three years ago resurfaced as well.

Pancake Bunny, a DeFi protocol on the BNB Smart Chain, fell victim to a flash loan attack in 2021. The hacker, taking advantage of the current market conditions, swapped stolen DAI tokens for ETH.

However, a miscalculation led to 3.6 million DAI being sent to a DAI stablecoin address inadvertently, according to some industry watchers.

These recent activities underscore a broader trend where cybercriminals leverage market downturns to optimize their gains. The fluctuating prices create opportunities for hackers to re-enter the market, acquire assets at lower prices, and attempt to launder them through various channels.

These events raise serious concerns about the vulnerability of the crypto ecosystem. While some may view it as a clever tactic, exploiting stolen funds to further enrich oneself paints a bleak picture.

These incidents also underscore the importance of robust security measures for DeFi protocols and the need for stricter user education regarding the risks of unsupported wallets.

The story of hackers buying the dip in a market crash is a chilling reminder of the opportunistic nature of cybercrime. As the crypto market continues to evolve, so must its security infrastructure.

The post Hackers Buy the Dip Amid Crypto Bloodbath first appeared on The Shib Daily.

Buying the Dip: Courting Risk or a Stroke of Genius?

Malaya Ruiz — Sat, 20 Jul 2024 14:07:01 +0000

Crypto holders buying the dip—it’s a tale as old as time. When the market takes a nosedive, these brave souls are always ready to swoop in to have their share of that market-generated discount! It’s a risky move at times, but as the saying goes, fortune favors the bold (and the patient HODLer).

Newbies in crypto—and probably even normies—hear “buy the dip” whenever somebody starts yapping about crypto 101. While this article is strictly NFA, it’s as handy as it can get.

As Winston Churchill said, “Success is not final, failure is not fatal: It is the courage to continue that counts.” Let’s be real, people who are willing to dump their life savings into the most volatile market while wishing for the best are the most fearless people on earth. That’s the daredevil talking and winning every time.

This is exactly why crypto holders are often called degens. Degen is the new brave.

But let’s not forget to give credit to the day traders. They are a whole new level of brave. You’ve seen the memes where everybody wonders what trading strategy a crypto trader has and they look like this. Or this.

But going back to the main point, some holders are also like Charlie Lee, creator of Litecoin, who at one point said that the best time to buy is when there’s blood in the streets. Yes, that’s the same guy who sold almost all of his Litecoins in 2017!

Somebody also said, “In crypto, every dip is an opportunity to soar.” 🗠 Ah, contrarian investing at its finest.

If you’ve been in this scene for a while now, you’ve probably gone down this path quite a few times too. You’ve probably lost and gained and lost again and gained again, and so on and so forth. Because every “just one more dip” usually turns into “too many to count!”

And you know what comes after buying the dip. Actually, before and after.

The next thing in the agenda is usually hodling. Perhaps the most iconic quote in crypto comes from the legendary HODLer himself who once proclaimed, “I AM HODLING.” In a now-infamous forum post, this crypto crusader declared his intention to hold on to his coins for dear life no matter what the market threw his way. And honestly, if a guy with a username like GameKyuubi can weather the storm of a market crash with a misspelled meme, sheer determination, and just the right amount of alcohol, then surely the rest of us can too. Again, NFA!

But if you ever drunk-tweet and become famous in crypto, we’ll probably be referencing one of your quotes someday—right here in Weekly Meme Digest.

So here’s to all the brave souls out there buying the dip, 🗠 whether out of greed, fear, or just sheer lunacy. Remember, billionaire investor Ken Fisher once said, “Time in the market beats timing the market.” You might say that’s the genius part. At least that’s what we’ll keep telling ourselves as we watch our portfolios rollick like yo-yos on steroids.

Cheers to the hodlers! May your dips be shallow and your gains be plentiful.

Warning: Reading this content may lead to sudden urges to quit your job to monitor crypto prices 24/7. Market fluctuations may cause you to experience an increased heart rate, obsessive checking of charts, and a dramatic affection for dips. Remember to HODL responsibly!

The post Buying the Dip: Courting Risk or a Stroke of Genius? first appeared on The Shib Daily.

Shiba Inu Poised for ‘Vertical Movements,’ Triple-Digit Gains Predicted by Crypto Traders

Gushiken Yona — Sat, 13 Jul 2024 18:54:38 +0000

Crypto traders are anticipating a significant upward movement for Shiba Inu (SHIB), with predictions of a potential triple-digit average pump on the horizon.

Crypto enthusiasts are abuzz with predictions of a significant surge for Shiba Inu (SHIB), a popular meme-based cryptocurrency. The optimism stemmed from technical analysis, historical patterns and current market conditions suggest that SHIB may be poised for a remarkable price surge, capturing the attention of investors and enthusiasts alike.

Prominent crypto analyst Crypto Sheriff, known by his X handle @Gem_Sheriff, ignited a wave of excitement within the Shiba Inu community with a recent tweet proclaiming a “bullish weekend” for the popular meme coin. This pronouncement, highlighting SHIB’s positive market performance and a surge in investor confidence, has further solidified the growing optimism surrounding the future of Shiba Inu.

Additionally, the tweet mentioned the removal of “negativities” in the crypto space, potentially alluding to regulatory hurdles or negative news that had previously hampered SHIB’s growth. With these obstacles seemingly cleared, Crypto Sheriff predicted “vertical movements” for SHIB, suggesting a potential significant price increase.

This bullish sentiment was mentioned earlier this week by another prominent crypto trader, Kevin (@Kev_Capital_TA on X), known for accurately predicting the recent altcoin pullback. Kevin pointed out that SHIB had historically seen an average 146% pump after seven weekly Stochastic RSI crosses at major support levels. With SHIB already up 30% from its local bottom, Kevin believed there was “much more upside in tank.”

Kevin’s analysis suggested that SHIB’s current technical indicators aligned with previous patterns that had led to significant price increases. The Stochastic RSI is a momentum indicator that compares a cryptocurrency’s closing price to its price range over a given period.

A cross of the Stochastic RSI lines can signal a potential trend reversal or continuation. In this case, Kevin’s observation of seven previous instances where this cross occurred at major support levels, followed by an average 146% pump, suggested a strong possibility of a similar scenario playing out again.

While these tweets offered a positive outlook for SHIB, investors are reminded that crypto markets are highly volatile and should conduct thorough research before making any investment decisions. Technical analysis, such as that provided by Kevin, can be a useful tool for predicting price movements, but it is not foolproof and should be considered alongside other factors such as market sentiment, news, and fundamental analysis.

Shiba Inu’s market performance saw a significant uptick as of 2:32 p.m. ET on Saturday, with the cryptocurrency trading at $0.00001723. This represented a notable 4.65% spike within the 24-hour period, fueled by a 7.09% increase in trading volume, reaching $222,469,295.

Despite a 19.78% dip over the past month, the recent surge signals a potential shift in momentum, with a 1.44% increase observed over the last seven days. Data from CoinMarketCap further revealed an impressive 4.54% spike in Shiba Inu’s market cap, now standing at $10,162,728,403, with a circulating supply of 589,270,745,783,609 SHIB.

The post Shiba Inu Poised for ‘Vertical Movements,’ Triple-Digit Gains Predicted by Crypto Traders first appeared on The Shib Daily.

Shiba Inu Whales Drive Market Momentum Amid Promising Trends

Gushiken Yona — Wed, 10 Jul 2024 14:22:40 +0000

Major Shiba Inu (SHIB) holders, often referred to as “whales,” are making significant moves in the market, signaling a potential shift in the meme coin’s trajectory. Recent data suggests that these influential investors are accumulating SHIB, fueling optimism for a price recovery.

Last Friday, Shiba Inu experienced a surge in large transactions, those exceeding $100,000 in value, with a total of 4.29 trillion SHIB changing hands. This marked the highest single-day volume in nearly two weeks, sparking speculation about the motivations behind this whale activity.

Further analysis of on-chain data revealed a predominantly bullish trend. While some whales were selling, the majority were accumulating SHIB. Last Friday alone, bulls acquired 4.24 trillion SHIB, surpassing the 4.18 trillion SHIB sold by bears, leading to a net inflow of 48.67 billion tokens.

This bullish sentiment extended throughout the past week, with 133 “bullish” investors (those who purchased over 1% of the 24-hour trading volume) outnumbering the 127 “bearish” investors. This suggests a growing confidence among larger investors in SHIB’s potential.

Data from IntoTheBlock further supported this trend. In the last week, there were 84 large transactions, peaking at 199 transactions on Wednesday. The total amount of SHIB traded also reached a seven-day high of 5.71 trillion SHIB on Sunday.

The resurgence of whale activity in the SHIB market could signal a significant shift in the meme coin’s dynamics. Such large transactions often reflect institutional investors’ confidence in an asset’s near-term potential or strategic positioning. However, it’s important to remember that the crypto market remains inherently volatile, and these trends don’t guarantee a sustained price recovery.

Shiba Inu defied recent downturns, showing a glimmer of hope with a modest 0.88% gain in the last 24 hours, reaching $0.00001648 as of 8:52 a.m. ET on Wednesday. Despite a 28.63% dip over the past month, the meme coin’s trading volume remains robust at $271,784,911, underscoring continued market interest.

Furthermore, CoinMarketCap data reveals a 1.11% increase in Shiba Inu’s market capitalization, now standing at a substantial $9,722,639,638, with a circulating supply of 589,270,821,530,683 SHIB. This uptick in market cap, coupled with the recent price bump, might signal a potential reversal in the coin’s fortunes, adding to the optimism fueled by the steadfastness of SHIB whales.

While the future remains uncertain, the data paints a cautiously optimistic picture for Shiba Inu. The actions of SHIB whales, combined with the broader market trends, indicate that the meme coin might be gearing up for a promising future. However, as with any investment, due diligence and careful consideration are crucial before making any financial decisions.

The post Shiba Inu Whales Drive Market Momentum Amid Promising Trends first appeared on The Shib Daily.

Investment Surge: $441M Inflows Recorded in Digital Asset Funds Amid ‘Price Weakness’

Malaya Ruiz — Mon, 08 Jul 2024 19:03:18 +0000

Despite negative market sentiment, digital asset funds have attracted $441 million in capital inflows as per the latest data by CoinShares Head of Research James Butterfill. Investors sent $398 million to Bitcoin, the leading cryptocurrency by market cap, with Solana and Ethereum seeing $16 million and $10 million in inflows, respectively.

Butterfill noted in his blog post that there has been a change in sentiment toward Ethereum, evidenced by a $10 million influx, yet it remains the sole exchange-traded product (ETP) with net outflows for the year.

“Bitcoin saw US$398m inflows but unusually represented just 90% of total inflows as investors chose to invest across a much broader set of altcoins. Most notable of which was Solana, seeing US$16m last week, bringing year-to-date (YTD) inflows to US$57m, making it the best performing altcoin from a flows perspective. Ethereum sentiment seems to have turned, seeing US$10m inflows, but remains the only ETP to have seen net outflow YTD,” Butterfill wrote.

Source: CoinShares

The report pointed out that the surge of inflows came as a result of “price weakness” caused by recent activities related to Mt. Gox and the German government, which were perceived as a favorable buying opportunity for investors.

In terms of regional inflows, the United States dominated with $384 million, while Hong Kong, Switzerland, and Canada contributed significantly, with $32 million, $24 million, and $12 million, respectively. Germany was an exception, experiencing outflows of $23 million.

Source: CoinShares

This development coincides with the recent dip in Bitcoin’s price to levels not seen since February and the shift in sentiment in the overall crypto market toward a more bearish outlook.

Bitcoin has seen a decrease in value in the past week, while the Standard and Poor’s 500 (S&P 500) is heading toward a new record high. This pattern reminds some market participants of the correlation between cryptocurrency and traditional stocks prior to the onset of the COVID-19 crisis.

The post Investment Surge: $441M Inflows Recorded in Digital Asset Funds Amid ‘Price Weakness’ first appeared on The Shib Daily.

Bitcoin Decoupling from BTC ETFs Signals Shifting Market Dynamics

Gushiken Yona — Mon, 08 Jul 2024 14:30:34 +0000

Bitcoin’s recent price decline, ending the week 11% lower at $55,850, reveals an intriguing shift in market dynamics. Despite the significant drawdown, Bitcoin Spot ETFs have witnessed robust inflows, showcasing a remarkable disconnect from the coin’s price action.

Matteo Greco, a research analyst at the publicly listed digital asset and fintech investment business Fineqia International, highlighted this unprecedented divergence in a note sent to The Shib Daily. “For the first time since their inception, there is a noticeable decoupling between price action and capital flows,” he explained, referring to Bitcoin ETFs.

Bitcoin’s rollercoaster week ended with the coin settling at $55,850. But the real story lies beyond the price dip, according to Greco. Surprisingly, Bitcoin Spot ETFs saw a $238 million influx despite the market downturn.

This bucks the usual trend where ETF activity and Bitcoin’s price move in tandem. Greco pointed to this as a pivotal moment. The culprit behind the price drop, the research analyst suggested, is not Wall Street but rather the crypto natives driving the action.

While ETF trading slowed down, on-chain trading volume held steady, suggesting the sell-off was fueled by crypto enthusiasts, potentially reacting to events like Mt. Gox repayments. This shift indicates a growing independence of Bitcoin’s price from traditional financial institutions, a potential turning point for the cryptocurrency’s market dynamics.

With on-chain trading volume projected to hit $1.3 trillion by July’s end, it’s clear that crypto natives are increasingly shaping Bitcoin’s future.

Greco explained: “The high on-chain selling pressure may be attributed to the commencement of Mt. Gox repayments, which have been awaited by investors for years. Although investors might wait up to 90 days to access the funds, the official news of repayments, confirmed by the verified movement of 47,228 BTC from a Mt. Gox-associated cold wallet to a new address likely designated for repayments, triggered market reactions.”

He further said, “Additionally, miners’ selling pressure remains high due to the recent halving, which reduced mining rewards by 50%. Although this selling pressure appears to be decreasing in recent days, it still exceeds demand, contributing to the negative short-term price action.”

Bitcoin’s recent price dip has triggered a wave of profit-taking among long-term holders, according to Fineqia International’s research analyst. This behavior, reflected in a sharp decline in the MVRV ratio, a key indicator of unrealized profits, is reshaping the market dynamics.

Greco explained that as early investors cash out, they are effectively transferring their coins to new buyers who are entering at higher prices. This shift reduces the overall unrealized profit potential in the market. While the declining MVRV ratio might raise concerns for some, Greco saw it as a natural evolution in a maturing Bitcoin market.

Early adopters are reaping the rewards of their investments, a sign of Bitcoin’s growing stability and acceptance. This transition could signal a shift towards a more sustainable growth model, where price fluctuations are less driven by speculative fervor and more by fundamental factors.

Disclaimer: Yona has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice.

The Shib Daily is an official media and publication of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

The post Bitcoin Decoupling from BTC ETFs Signals Shifting Market Dynamics first appeared on The Shib Daily.

Crypto Crash: Factors Contributing to Ongoing Market Slump Explored

Malaya Ruiz — Fri, 05 Jul 2024 20:01:18 +0000

The cryptocurrency market has come under selling pressure, indicating an increase in negative sentiment among investors. Reports from multiple sources show that the market lost more than $170 billion in total market value.

The recent drop has caused heartburn among market players, with the question on top of everyone’s mind being how much longer it will last.

One potential factor contributing to the situation is the pressure on Bitcoin, the world’s largest cryptocurrency, as Mt. Gox started repayments to its users. The collapsed Bitcoin exchange owes around $9 billion to its customers.

Bitcoin’s price fell by 8% on Friday to $53,523, reaching its lowest value since late February, according to Reuters. At the time of writing, Bitcoin is trading at 56,470.33, down by more than 3% on Friday.

In addition, this market slump, as exp lained by Wise Advice, a crypto analyst, can be attributed to various factors, such as significant withdrawals, liquidations, mining operations, government interventions, and market sentiment indicators.

On top of that, the uncertainty among investors regarding U.S. inflation and interest rates is putting pressure on crypto prices possibly influenced by U.S. Federal Reserve Chair Jerome Powell’s recent comments indicating potential changes to rate cuts in 2024. Powell elaborated on the fact that the Fed requires more compelling evidence to support a decision to lower interest rates.

Meanwhile, market fears have been exacerbated by the actions of the German government, which has been moving large amounts of BTC, causing some investors to sell off their holdings in anticipation of negative market effects.

Crypto is a highly volatile asset, and investors are advised to do your own research when investing in cryptocurrency. The sector also lacks regulations that are on par with the equity markets to keep investor funds protected and to deter rogue projects and founders.

So always invest after you do your due diligence, and make sure you engage only with official accounts of any project to avoid falling into traps set by scammers.

Disclaimer: Malaya has positions in SHIB, ETH, USDT, MATIC, etc. This article is provided for informational purposes only and should not be construed as financial advice.

The Shib Magazine and The Shib Daily are the official publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

(This article was edited to remove references to Bitcoin ETF outflows as having affected the cryptocurrency’s price.)

The post Crypto Crash: Factors Contributing to Ongoing Market Slump Explored first appeared on The Shib Daily.

Shiba Inu Defies Market with Massive Surge In Large-Transactions and Token Burning

Gushiken Yona — Tue, 02 Jul 2024 06:52:58 +0000

Shiba Inu defies market trends with a triple-digit uptrend in the volume of large transactions and amid the massive token burning initiatives within the ecosystem.

Shiba Inu (SHIB), the world’s second-largest dog-themed altcoin by market capitalization, has seen interesting developments this week. Recent data from on-chain analytics firm IntoTheBlock revealed a notable 181% jump in large transactions for SHIB, highlighting heightened interest in the meme coin.

This suggests that there is heightened interest in SHIB, with more substantial transactions taking place. This surge in activity correlated with a 65% increase in daily active addresses within a 24-hour period, indicating growing engagement with the Shiba Inu network.

This means more people are engaging with the Shiba Inu network, either by holding, transferring, or trading SHIB. These metrics indicate increased activity and interest in the Shiba Inu cryptocurrency, suggesting that more users are participating in the network and larger transactions are becoming more common.

In a landmark event, a staggering 300,404,261 SHIB tokens were burned within the past 24 hours, marking an astonishing 16,854.89% increase in the burn rate. This record-breaking burn follows an already impressive month of June, where over 918 million SHIB tokens were burned across 237 transactions. The past week alone saw 366,934,224 SHIB removed from circulation, a substantial 325.73% increase.

The combined effects of increased large transactions, rising daily active addresses, and the aggressive burning of SHIB tokens may have played a significant role in propelling the Shiba Inu’s price upwards, attracting attention from both experienced and novice crypto investors.

As of 2:27 a.m. ET on Tuesday, Shiba Inu (SHIB) was trading at $0.00001715, experiencing a slight 1% dip for the day. This followed a minor 0.69% decrease over the past week and a more substantial 31.30% decline over the last 30 days.

Despite these fluctuations, SHIB’s market capitalization remains robust at $10,102,503,334, according to CoinMarketCap data. This market cap reflects the immense popularity and substantial circulating supply of 589,270,913,703,673 SHIB tokens. The 24-hour trading volume of $175,319,927 further indicates that SHIB continues to be a highly active and sought-after asset in the crypto market.

Disclaimer:

Yona has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice.

The post Shiba Inu Defies Market with Massive Surge In Large-Transactions and Token Burning first appeared on The Shib Daily.

Government-led Crypto Offloading Raises Speculations; Markets Jittery

Gushiken Yona — Mon, 01 Jul 2024 11:19:57 +0000

A wave of government-led cryptocurrency selloffs has sent ripples through the digital asset market, with Germany and the United States leading the charge.

The timing and scale of these transactions have raised eyebrows and prompted speculation about the motives behind these moves.

According to on-chain data from blockchain analysis platform Arkham Intelligence, the U.S. government transferred 3,375 ETH (worth approximately $11.75 million) to an unknown address on July 1. This address reportedly holds seized funds from Estonian crypto entrepreneurs Konstantin Potapenko and Ivan Turogin, raising questions regarding potential connections between the transfer and previous legal actions.

Furthermore, blockchain analytics tool LookonChain reports that the German government has transferred 1,500 BTC (valued at $94.7 million) to various exchanges, including Bitstamp, Coinbase, and Kraken. This latest Bitcoin transfer by the German government follows a series of similar transactions in recent weeks.

In tandem, the U.S. government has also been active in the crypto market, with a notable Bitcoin transfer to Coinbase last week preceding today’s Ethereum transfer. The timing and frequency of these actions have sparked speculation across the crypto community.

While the immediate effect of these selloffs might be downward pressure on prices, the long-term implications remain a subject of debate. Some analysts suggest that the market has already factored in these sales, thus minimizing their impact. However, others express concern that continued government unloading could trigger a broader market decline, potentially impacting investor confidence.

The government’s motives behind these selloffs remain unclear. However, statements from officials suggest a more complex picture than simple market timing.

Jarod Koopman, executive director of the IRS’s cyber and forensics services section, said last year: “We don’t play the market. We basically are set by the timing in our process.” A representative for the U.S. Marshals Service echoed the sentiment to The Wall Street Journal in 2023, stating their goal is to “dispose of assets in a timely manner at fair-market value.”

These statements indicate that the timing of these sales might be dictated by legal and procedural considerations rather than market considerations. However, experts like Nicolas Christin, a professor of computer science at Carnegie Mellon University, pointed out that “the government moves generally very slowly to dispose of those assets because they’ve got to do a ton of due diligence, the cases are often complicated and there’s a lot of red tape.”

The challenges faced by government agencies in adapting to the rapidly evolving crypto landscape are also evident in Koopman’s statement: “What has transpired in less than 10 years in crypto took the financial industry the same time to do in 100 years.”

Despite these challenges, the increased activity of government entities in the crypto space is undeniable. Their actions carry significant weight and can influence market trends, investor sentiment, and even the regulatory landscape. As the cryptocurrency market continues to mature, the interplay between governments and digital assets will be a critical factor in shaping its future trajectory.

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Roaring Kitty Roars Again: Lawsuit Alleges Market Manipulation in GameStop Frenzy, But Crypto Twitter Cries Foul

Gushiken Yona — Mon, 01 Jul 2024 09:22:49 +0000

Roaring Kitty, also known as Keith Gill and by his online moniker “DeepFuckingValue,” is back in the headlines as a new lawsuit accuses him of market manipulation during the notorious GameStop trading frenzy.

A proposed class action lawsuit filed in the Eastern District of New York on June 28 alleges that Gill orchestrated a pump-and-dump scheme to manipulate the price of GameStop (GME) securities.

The plaintiff, Martin Radev, claims that Gill used his significant social media influence to artificially inflate GME prices, then profited from selling his holdings. The lawsuit focuses on Gill’s actions between May 13, 2024, and June 13, 2024, a period during which Gill, after a three-year hiatus from social media, strategically posted cryptic messages on Twitter and Reddit, hinting at renewed interest in GameStop. These posts allegedly triggered a buying frenzy among his followers, driving up GME prices. Gill then publicly disclosed his significant holdings in GameStop, further fueling the rally.

The lawsuit contends that Gill had been quietly accumulating GameStop options before his social media campaign. It cites a Wall Street Journal report indicating that E*Trade, Gill’s brokerage platform, was considering banning him due to concerns about potential market manipulation. Subsequent revelations that Gill had sold his options during the price surge led to a sharp decline in GME’s stock price.

Gill is accused of violating sections of the Securities Exchange Act of 1934, including those prohibiting market manipulation and insider trading. The lawsuit seeks damages for investors who purchased GameStop securities during the specified period and suffered losses due to Gill’s alleged actions.

While the lawsuit raises significant questions about the role of social media influencers in financial markets, Crypto Twitter has been vocal in its defense of Gill. Many argue that the lawsuit is unfounded and represents a misguided attempt to penalize a retail trading icon.

“RK did not commit securities fraud (IMO). Did he know what he was doing? Absolutely. But, he never traded on any material non-public information. He never made false claims about his GME positions or about GME the company. RK did exactly what well-known investors, analysts, and short sellers do all the time… He took a position and then openly disclosed it. That’s it,” said @FinancewithPaul, a former stockbroker.

Alex Thorn, Galaxy’s Head of Research, also weighed in, saying, “ha the plaintiff in the proposed class action against roaring kitty cited an X post about the GME Solana meme coin as one of the examples that people took kitty’s sit forward post to mean buy the GME equity. don’t think they know about memecoins.”

Another notable comment came from @wagiecapital, an X account that provides long/short commentaries on public markets: “This is hilarious – the guy bringing the suit literally owned 35 shares of the stock, 2 call options, and a put (which he made a $2 profit trading).”

This case puts a spotlight on the ongoing debate about the regulation of meme stocks and the actions of retail investors. It raises questions about how much influence social media figures should have over financial markets and whether their actions can be considered market manipulation. The outcome of this lawsuit could set a precedent for future cases involving social media influencers and market dynamics.

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Shiba Inu Emerges from Undervalued Territory, Signaling Potential for Renewed Growth

Gushiken Yona — Sun, 30 Jun 2024 08:12:41 +0000

Shiba Inu (SHIB) is attracting renewed attention from investors as it emerges from “underbought” territory. This shift in sentiment, signaled by recent data from crypto market analysis firm Santiment, indicates a potential turning point for the cryptocurrency, which had previously experienced price fluctuations in the volatile crypto market.

In an X (formerly Twitter) post accompanied by a chart, a cryptocurrency and blockchain-focused financial market data and content platform Santiment, highlighted that SHIB falls under the “underbought” category according to the MVRV Z-Score, a metric that assesses the market value of an asset relative to its realized value.

This suggests that Shiba Inu’s current market price may be below its fair value, presenting a potential buying opportunity for those seeking to capitalize on the meme coin’s potential for growth. The analysis also noted that Shiba Inu, alongside another undisclosed asset, was among the most undervalued large-cap cryptocurrencies in the market.

The MVRV Z-Score functions by comparing an asset’s present market value against its realized value—the average price at which all tokens last changed hands. A low Z-Score, as observed with SHIB, implies that the token’s current market price was lower than its historical average purchase price, signaling a potential buying opportunity for investors.

For those holding Shiba Inu (SHIB), this undervaluation signal held significant implications. The “underbought” label illuminated a potential turning point, suggesting an opportunity for growth. The current market price, sitting below the MVRV Z-Score’s valuation, could attract both newcomers seeking an affordable entry into the SHIB ecosystem and existing investors who might view this as an opportune moment to increase their holdings.

However, it’s crucial to remember that the crypto market is a complex beast, influenced by a multitude of factors beyond just valuation metrics. Market sentiment, technological developments within the Shiba Inu ecosystem, regulatory shifts, and broader economic currents can all play significant roles in shaping SHIB’s trajectory.

Therefore, while the “underbought” status was undoubtedly a positive indicator, prudent investors should approach with cautious optimism. Thorough research and a comprehensive understanding of the market landscape were essential before making any investment decisions.

As of 3:50 a.m. ET on Sunday, June 30, 2024, SHIB was trading at $0.00001699, with a 24-hour trading volume of $119,801,042. Despite a minor dip of 0.93% for the day, the token had seen a 6.31% decline over the past week. However, zooming out revealed a more optimistic picture: over the last 30 days, SHIB had surged by an impressive 35.32%, demonstrating its resilience and potential for growth.

With a circulating supply of over 589 trillion SHIB and a market cap exceeding $9.9 billion, according to the data from CoinMarketCap, Shiba Inu continued to command a significant presence in the cryptocurrency landscape, leaving investors and enthusiasts eager to witness its next chapter.

Yona has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice.

The post Shiba Inu Emerges from Undervalued Territory, Signaling Potential for Renewed Growth first appeared on The Shib Daily.

Shiba Inu Defies Sell-Off Fears, Turns Green Despite Massive Exchange Inflows

Gushiken Yona — Wed, 26 Jun 2024 15:16:40 +0000

Shiba Inu (SHIB) has defied expectations as its price surges despite a massive influx of tokens into cryptocurrency exchanges.

Market watchers initially feared these significant deposits signaled an impending sell-off, potentially impacting SHIB’s value. However, the cryptocurrency has displayed resilience, trading in the green zone amid potential market volatility.

This week, a staggering 13 trillion SHIB tokens were transferred into exchanges, causing a stir among investors. This substantial inflow triggered concerns of a significant price drop as holders might be preparing to liquidate their assets. However, data from onchain market data analytics provider CryptoQuant revealed an unexpected twist.

The chart indeed show a significant net inflow of SHIB into exchanges. But, what’s more striking is the recent trend reversal. Despite the initial influx, the net flow has turned negative, indicating more SHIB being withdrawn than deposited. This supports the idea that the “sell-off fears” were unfounded and SHIB is indeed “defying” them.

Several factors could be contributing to the recent price surge, including a growing community of SHIB supporters, increased interest from institutional investors, and positive developments within the Shiba Inu ecosystem. Moreover, the decrease in net flow to exchanges may signal that some investors are accumulating more SHIB, further bolstering its price.

While the situation remains fluid, the current trend points to Shiba Inu weathering the storm of the large exchange deposits and emerging stronger. This highlights the unpredictable nature of the cryptocurrency market and the importance of data analysis before making investment decisions.

The future of Shiba Inu remains to be seen, but its recent performance in the face of adversity is a testament to its resilience and the growing confidence of its holders. As the market continues to evolve, the path SHIB takes through the challenges and opportunities ahead will be a fascinating journey to observe.

Shiba Inu (SHIB) is currently enjoying a positive trading session, bucking recent market trends. As of 10:02 a.m. ET on Wednesday, SHIB was trading at $0.00001761, reflecting a 0.25% increase in value over the past 24 hours. This uptick comes amid significant trading volume of $276,563,131, showcasing a high degree of investor interest in the meme coin.

Despite a 3.42% dip in the past week, the token has demonstrated a noteworthy 28.21% increase in the past 30 days, highlighting its resilience and potential for long-term growth.

According to recent data from CoinMarketCap, SHIB’s market capitalization has also seen a boost, rising by 0.48% to $10,386,479,187. This increase, coupled with a circulating supply of 589,271,251,383,593 SHIB, solidifies the token’s position as a major player in the cryptocurrency market.

Yona has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice.

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Shiba Inu Whales Pour $95 Million into SHIB, But Face $538 Million Sell Wall

Gushiken Yona — Wed, 19 Jun 2024 08:30:03 +0000

Large SHIB holders, often referred to as Shiba Inu whales, have recently demonstrated a strong vote of confidence in the cryptocurrency by investing a staggering $95 million within a 24-hour timeframe. This significant influx of funds into SHIB suggests a belief in the token’s long-term potential despite a substantial sell wall looming at the $0.000066 price point.

Data from blockchain analytics platform IntoTheBlock revealed a remarkable 295% surge in large transactions, defined as those exceeding $100,000. These transactions, totaling 4.95 trillion SHIB and valued at $95.57 million, underscore the whales’ active involvement in the market.

This increase in large transaction volume might have been a strategic move by Shiba Inu whales to create a price floor, aiming to stabilize SHIB prices and prevent further declines. Such actions by whales often signal confidence in the asset’s potential and can influence broader market sentiment.

The sell wall analysis from IntoTheBlock provided key insights into this development. A significant concentration of SHIB holders had acquired their tokens at the price point of $0.000066.

The data indicated that 91,760 addresses collectively purchased 29.6 trillion SHIB at this level, totaling a value of $538 million. This sell wall, acting as a resistance level, suggested that many holders were waiting for the price to reach or exceed $0.000066 before selling their tokens. This psychological barrier meant that other traders and investors were hesitant to buy aggressively until this large supply of SHIB was absorbed by the market.

In essence, the sell wall represented a critical juncture for Shiba Inu’s price action. Breaking through it could signal a significant shift in market sentiment and potentially trigger a sustained rally. However, the impact of sell walls on price movement can vary depending on market conditions and overall investor sentiment. Nonetheless, they remain crucial indicators to watch, providing valuable insights into potential price trends and trading opportunities.

If SHIB’s price managed to break through this sell wall, it could trigger a significant market shift. Those who bought at $0.000066 might start selling their holdings to take profits, potentially attracting new buyers who viewed the price increase as a bullish signal. This influx of buying pressure could push the price even higher, leading to potential upward momentum for SHIB. However, if the price fails to overcome this resistance level, it might result in further downward pressure.

At 4:23 a.m. ET on Wednesday, Shiba Inu’s trading volume reaches $466,617,310 within a 24-hour period. The world’s second-largest dog-themed altcoin’s price spiked 1.88% in the past 24 hours, with further declines of 16.16% over the last seven days and 25.15% in the past 30 days, bringing its value to $0.00001856.

According to the latest data from CoinMarketCap, Shiba Inu’s circulating supply currently stands at 589,271,366,708,464 SHIB, with a market capitalization up by 1.86% to $10,936,573,240. These figures highlight the significant volatility and potential risks associated with investing in this popular cryptocurrency.

Yona has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice.

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June Crypto Jinx: A Dive Into Historical Trends of Shiba Inu, Bitcoin, and Ethereum

Gushiken Yona — Tue, 18 Jun 2024 23:55:36 +0000

The “June Crypto Jinx” has long intrigued market analysts and investors. A dive into the historical data reveals that cryptocurrencies like Shiba Inu, Bitcoin, and Ethereum often experience significant price fluctuations during this month.

Shiba Inu is currently trading in the red zone at $0.00001819, representing a double-digit drop in value by 23.84%. While many are wondering why the market is behaving this way, a crypto analyst who uses the handle @0xSisyphus suggested on X (formerly Twitter) that historical patterns might hold the key to understanding this phenomenon.

The crypto analyst, @0xSisyphus, with over 116,000 followers on X, pointed towards a potential “June Jinx” in the crypto market. They highlighted past instances of June volatility, including, June 2020: Bitcoin halving dump, June 2021: Fallout from May end of the cycle, bottom in July, June 2022: 3AC + leverage blowup, June 2023: Robinhood delisting, securities FUD and June 2024: Altcoin meltdown (usually up by August).

Shiba Inu, the current world’s largest dog-themed altcoin by market cap, launched in August 2020, hasn’t escaped the June crypto jinx. In June 2021, it experienced a significant correction from its all-time high. The following year, June 2022, saw a market-wide downturn that impacted SHIB’s value. June 2023 brought regulatory challenges, including Robinhood delisting the token, leading to further price declines.

Bitcoin’s historical data also aligns with the June Crypto Jinx. In June 2020, Bitcoin’s price dropped following the halving event in May. The subsequent years saw similar downtrends: in 2021, the price fell due to the end-of-cycle dynamics, and in June 2022, the collapse of Three Arrows Capital led to a dramatic market bottom. Last June, concerns about regulatory actions, including Robinhood delisting, created additional downward pressure. This year, Bitcoin has again shown volatility, mirroring historical patterns.

Ethereum has not been immune to the June Jinx either. In 2020, Ethereum’s price followed Bitcoin’s halving-related decline. The 2021 cycle saw Ethereum’s price drop due to the broader market’s end-of-cycle corrections. The June 2022 market turmoil, driven by leveraged positions and the collapse of major crypto funds, saw Ethereum hitting new lows. Last year, the impact of regulatory fears and market delistings affected Ethereum significantly, continuing the trend into 2023.

While June has historically been a volatile month for cryptocurrencies like Bitcoin, Ethereum, and Shiba Inu, there have been instances of notable price increases during this month as well.

For example, in June 2017, Ethereum experienced a significant surge, rising from around $200 to over $400. This was driven by factors such as increased adoption, growing interest in decentralized applications (dApps), and positive market sentiment.

Similarly, Bitcoin has also seen positive price movements in June in certain years. For instance, in June 2019, Bitcoin rallied from around $7,500 to over $13,000, fueled by renewed institutional interest and anticipation of the upcoming halving event.

Several factors contribute to the recurring June Jinx in the cryptocurrency market. Market cycles, regulatory actions, significant financial events, and broader economic conditions play crucial roles. Historical data shows that June often brings regulatory scrutiny and strategic financial decisions that impact the market adversely. The psychological impact on investors, expecting volatility, also contributes to the trend.

While the “June Jinx” may be a recurring pattern, it’s important to remember that crypto markets are complex and influenced by various factors. Positive news, technological advancements, regulatory developments, and overall market sentiment can all contribute to price increases, even during historically volatile months like June.

Historical trends, although provide valuable insights, relying solely on past data can be misleading. Market conditions evolve, and unique factors each year can significantly alter outcomes. Investors should use historical data as one of many tools in their analysis, remaining vigilant about current events and broader market dynamics.

At 7:38 p.m. ET on Tuesday, Shiba Inu experienced a dramatic surge in trading volume, reaching $602,203,274 within a 24-hour period, representing a 41.01%% increase. However, despite the increased trading activity, the meme coin’s price dipped 6.52% in the past 24 hours, with further declines of 16.30% over the last seven days and 27.11% in the past 30 days, bringing its value to $0.00001811.

According to the latest data from CoinMarketCap, Shiba Inu’s circulating supply currently stands at 589,271,349,455,007 SHIB, with a market capitalization of $10,668,176,098. These figures highlight the significant volatility and potential risks associated with investing in this popular cryptocurrency.

Yona has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice.

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BONE Breaks New Ground: Latest Listing Fuels Visibility and Accessibility

Gushiken Yona — Fri, 14 Jun 2024 21:40:36 +0000

BONE breaks new ground as its latest listing on Trive Exchange fuels visibility and accessibility, marking a significant milestone for the Shiba Inu crypto project.

Bone Shibaswap (BONE), the governance token on ShibaSwap, Shiba Inu’s decentralized exchange platform (DEX) and the official gas fee of the ecosystem’s layer-2 scalability solution Shibarium, has been listed by Trive Exchange, a crypto exchange platform in Indonesia. This latest milestone underscored the growing demand and recognition for BONE within the rapidly expanding crypto market.

This announcement, made on X (formerly Twitter) by Trive Exchange, underscored the growing demand and recognition for BONE within the rapidly expanding crypto market.

The listing, while not yet dated, marked a significant step for BONE, enhancing its visibility and accessibility to a broader audience of traders and investors. For Shiba Inu enthusiasts, this development strengthened the project’s overall standing and reaffirmed the utility and value proposition of BONE within the ecosystem.

Since its launch in July 2021, BONE had been steadily gaining traction, securing listings on renowned exchanges such as Crypto.com, OKX, Gate.io, MEXC, Bitget, HTX, and INDODAX. This latest addition further solidified its presence in the market and opened up new avenues for trading and investment.

Trive Exchange, known for its user-friendly interface and commitment to security, boasts a diverse selection of digital assets. The platform’s decision to list BONE reflected its confidence in the token’s potential and its growing popularity among crypto enthusiasts.

The announcement alone generated considerable buzz within the Shiba Inu community. Holders of BONE anticipated increased liquidity and trading volume, potentially leading to greater price stability and further appreciation of the token’s value.

The implications of this latest listing extended beyond mere market dynamics. It signified a broader trend of mainstream acceptance and adoption of Shiba Inu-related tokens. BONE, with its unique governance functions and utility within the Shiba Inu ecosystem, was emerging as a key player in the decentralized finance (DeFi) space.

BONE’s expanding presence on reputable exchanges paves the way for increased recognition and adoption as the crypto landscape continues to evolve. This latest listing serves as a testament to the project’s resilience and its ability to adapt and thrive in a competitive market.

With heightened visibility and accessibility, BONE is poised to attract new investors and strengthen its position as a leading governance token. The Shiba Inu community eagerly awaits the official listing date, marking another chapter in the token’s remarkable journey.

As of Friday at 5:32 p.m. ET, BONE was trading at $0.5368, reflecting a 1.75% dip in value over the past 24 hours. The token also experienced a 10.21% decrease over the past week and a 4.43% decline over the last 30 days, with a 24-hour trading volume of $7,207,541. Despite the recent fluctuations, BONE’s market capitalization remains a notable $123,751,140, with a circulating supply of 229,923,351 BONE, according to the latest CoinMarketCap data.

Yona has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice.
The Shib Daily is an official media and publication of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

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Bitcoin Bullish Momentum Persists Despite Market Volatility, $100K Target in Sight

Gushiken Yona — Thu, 13 Jun 2024 15:42:25 +0000

The bullish momentum of Bitcoin continues to build, with an expert predicting a surge towards $100,000 by the year’s end, despite recent market volatility. Strong institutional demand, global adoption, and favorable economic conditions fuel this optimistic outlook, suggesting Bitcoin’s upward trajectory remains firmly on track.

The king of crypto and the pioneering crypto asset dipped below the $68,000 threshold on Wednesday and Thursday, following the Federal Reserve’s announcement to hold interest rates steady while signaling expectations of only one rate cut this year. As of Thursday, Bitcoin was trading in the red zone at $67,680.90, showing a 3.45% dip in value.

Despite this recent setback, the overall trend for Bitcoin remains bullish. Matteo Greco, research analyst at the publicly listed digital asset and fintech investment business Fineqia International, in a note to The Shib Daily, highlighted several key indicators of Bitcoin’s bullish momentum. “BTC Spot ETFs continued to see strong inflows, recording net inflow on every trading day last week,” Greco noted. “This marks the fourth consecutive week of net inflows and 19 consecutive trading days with positive inflows, indicating robust momentum for financial products with BTC as the underlying asset.”

Greco further emphasized the significance of Bitcoin’s expanding integration into traditional finance. “Following the launch of the first BTC Spot ETF in Australia, the Thailand Securities and Exchange Commission (SEC) recently approved One Asset Management to introduce Thailand’s first BTC Spot ETF,” he said, underscoring the growing global acceptance of Bitcoin.

The macroeconomic landscape also plays a significant role in Bitcoin’s bullish outlook. Greco pointed to the recent decision by both the Bank of Canada (BOC) and the European Central Bank (ECB) to cut interest rates as a positive sign. “The rate cuts signal positive expectations from governments about their ability to control inflation while promoting less restrictive monetary policies,” he explained. “Less restrictive monetary policies are generally favorable for risk-on assets such as stocks and digital assets, especially when rate cuts do not foreshadow an impending recession.”

While short-term volatility is expected, the underlying bullish sentiment for Bitcoin remains strong. The combination of sustained demand, increasing adoption, and positive macroeconomic factors, as highlighted by Greco and echoed by a crypto trader known by the handle @AltcoinSherpa, suggested that Bitcoin is well-positioned for continued growth in the months ahead. Investors are advised to look beyond the short-term fluctuations and focus on the bigger picture, as Bitcoin’s potential to reach $100,000 by the end of the year remains a strong possibility.

Crypto analyst Altcoin Sherpa’s perspective reinforced this optimism. He dismissed recent price fluctuations as mere “noise,” emphasizing that Bitcoin is still in a consolidation phase with a bullish long-term outlook. Sherpa advised investors to focus on higher timeframes, which reveal a clear upward trend, and remain “tranquilo” (calm) about short-term volatility.

As of 10:49 a.m. ET on Thursday, Bitcoin was trading at $67,506.96 with a robust 24-hour trading volume up by 13.13% at $34,557,628,257. This represents a 3.19% dip in value in the past 24 hours, a 5.53% plummet over the last seven days and a 7.54% spike in the past 30 days.

The king of crypto has a market cap of $1,331,441,934,199 and a circulating supply of 19,711,775 BTC, according to the latest data from CoinMarketCap.

Disclaimer: Yona has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice.
The Shib Daily is an official media and publication of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

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Shiba Inu Explodes with 110% Trading Volume Surge To Over 34T SHIB, DeFi System Founder Bullish

Gushiken Yona — Mon, 10 Jun 2024 15:18:42 +0000

Shiba Inu (SHIB), the world’s second-largest dog-themed altcoin by market capitalization, has experienced a remarkable surge in trading activity, with volumes skyrocketing by 110% in the past 24 hours to a staggering 34.1 trillion SHIB.

According to the latest data from CoinMarketCap, SHIB boasts a market capitalization of $13,544,687,700, with a circulating supply of 589,271,775,864,234 SHIB tokens.

This surge comes amid bullish sentiment from the owner of a decentralized finance system, who predicts a bright future for the meme coin.

Despite the massive increase in trading volume, SHIB’s price has seen only minor fluctuations, with a modest 1.05% increase in the last hour and a 0.34% increase over the past 24 hours, data from CoinMarketCap showed. Adding to the intrigue, there has been a significant increase in whale-tier transactions, with over $8 trillion worth of SHIB transacted in recent days. This surge in activity by large-scale investors indicates a heightened level of interest and confidence in the cryptocurrency.

Elja Boom, the founder of the decentralized finance system Okse, recently tweeted, “History is repeating itself,” suggesting that SHIB’s current trajectory mirrors previous patterns that led to significant price increases. This bullish sentiment has further fueled speculation about SHIB’s potential for exponential growth.

Boom isn’t the only one noticing this recurring pattern. In March, crypto trader Rekt Capital (@rektcapital on X) observed that Shiba Inu was “slowly repeating history itself.” A few days prior, Rekt Capital noted, “In late 2021, SHIB also wasn’t able to break blue resistance on the first attempt. In fact, in late 2021 that blue resistance rejection forced SHIB to retest the orange level as new support (orange circle) before confirming further upside.”

This analysis, coupled with the affirmation that “Slowly, SHIB history is repeating itself,” suggested that Shiba Inu’s current market behavior mirrors the patterns from its remarkable performance in 2021, further fueling bullish sentiment among traders and investors.

The recent surge in trading volume and whale activity, combined with the bullish outlook from influential figures and analysts in the crypto space, have created a sense of anticipation and excitement around Shiba Inu. While the cryptocurrency market remains volatile, the current trends and historical echoes suggest that SHIB could be on the verge of a major price movement.

At 10:23 a.m. ET on Monday, Shiba Inu (SHIB) was trading at $0.00002295, experiencing a 24-hour trading volume increase of 1.46%, totaling $476,915,750. However, this marks a 1.42% decrease in value over the past day, an 8.05% decline over the past seven days, and a marginal 0.03% dip in the last 30 days.

Disclaimer: Yona has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice.

The post Shiba Inu Explodes with 110% Trading Volume Surge To Over 34T SHIB, DeFi System Founder Bullish first appeared on The Shib Daily.

Binance TH Announces Shiba Inu Listing On New Network

Gushiken Yona — Sun, 09 Jun 2024 22:50:05 +0000

Shiba Inu (SHIB) is set to gain increased accessibility and growth potential following Binance TH’s announcement of its listing on the Binance Smart Chain (BSC) network. This strategic move comes as Binance, the world’s leading cryptocurrency exchange, celebrates reaching 200 million users.

Effective June 11 at 2:00 a.m. ET, SHIB will be available for trading on the BSC network through Binance TH, a subsidiary of Gulf Binance. This is expected to significantly boost SHIB’s liquidity and trading volume, further solidifying its position in the cryptocurrency market.

Binance TH’s move to list SHIB on the BSC was a strategic effort to enhance trading options for its users. By adding SHIB to the BSC network, Binance TH aimed to provide broader access, lower transaction fees, and improved trading efficiency for one of the most popular meme coins in the crypto market.

The listing of SHIB on BSC is poised to have several positive effects on the cryptocurrency. SHIB’s listing on BSC allows users who preferred the Binance Smart Chain to trade SHIB more easily. This is anticipated to attract a wider user base, including those who were previously unable or unwilling to trade SHIB on other networks.

The addition of SHIB to BSC could help boost trading activity, thereby increasing liquidity. Higher liquidity typically leads to more stable prices and tighter bid-ask spreads, benefiting both traders and investors. Trading SHIB on BSC enables users to enjoy cost-effective transactions, potentially increasing the volume of SHIB trades.

As SHIB became accessible on more networks, its visibility and adoption increased. This broader adoption contributed to SHIB’s overall growth and popularity within the crypto community. Listing SHIB on BSC enhances its utility, making it easier to integrate into various DeFi protocols and applications operating on the Binance Smart Chain. This development will lead to new use cases and functionalities for SHIB, further driving its adoption and value.

The announcement of SHIB’s listing on BSC came on the heels of Binance reaching a significant milestone of 200 million users. This milestone highlighted Binance’s growing influence in the global cryptocurrency market and its commitment to expanding its services. “Today, we celebrate 200 million – and it’s all because of YOU! Your support is the heartbeat of our journey to 1 billion users,” the cryptocurrency exchange platform said in an X post, Saturday.

Today, we celebrate 200 million – and it's all because of YOU!

Your support is the heartbeat of our journey to 1 billion users.

Here's to the stars of our story – you!#Binance200M #Binancian #Binance pic.twitter.com/3cWTEHxg7j
— Binance (@binance) June 8, 2024

As of 6:20 p.m. ET on Sunday, Shiba Inu (SHIB) was trading at $0.00002353, with its 24-hour trading volume increasing by 5.93% to reach $466,523,554. This reflects a 1.63% rise in its value over the past 24 hours. However, over the last seven days, SHIB experienced a 4.68% decline. Despite this weekly drop, the token saw a 5.48% increase in value over the past 30 days.

SHIB’s market capitalization also grew by 1.62%, currently standing at $13,865,130,002. The circulating supply remains substantial, with 589,271,777,571,185 SHIB tokens in circulation, according to the latest data from CoinMarketCap.

The post Binance TH Announces Shiba Inu Listing On New Network first appeared on The Shib Daily.

Shiba Inu Explodes Into Top 8 Crypto Rankings Amid 169% Trading Volume Surge

Gushiken Yona — Thu, 30 May 2024 11:56:38 +0000

Shiba Inu, the dog-themed cryptocurrency that emerged as a playful meme, has unleashed a ferocious rally, catapulting itself into the ranks of the top 10 cryptocurrencies by market capitalization.

This meteoric rise, marked by a staggering 169% surge to over 5 trillion SHIB tokens traded, has propelled SHIB to the 8th spot by 24-hour volume on CoinMarketCap, solidifying its position as a major player in the dynamic and growing crypto landscape.

On Wednesday, Shiba Inu experienced an extraordinary surge in daily transaction volume, reaching a staggering 5.354 trillion SHIB estimated to be valued at more than $132 million. This remarkable leap underlined a 169% increase from Tuesday’s volume, as per CryptoQuant’s data.

The impressive performance in transaction volume highlights the dynamic nature of the SHIB market, reflecting heightened activity from both retail investors and large-scale participants.

Interestingly, based on the latest data from CoinMarketCap, aside from occupying the tenth seat among large market-cap crypto assets, Shiba Inu experienced a meteoric rise in trading activity, securing the 8th position by 24-hour trading volume among the 10,058 cryptocurrencies listed on the platform. But what could be behind this surge in trading volume and what does it mean for Shiba inu holders?

CryptoQuant, a platform offering on-chain market intelligence and analytics for institutional and professional cryptocurrency investors, offered a snapshot on the total number of Shiba Inu (SHIB) tokens transferred over time, along with the corresponding price. The data, presented in a graph, highlighted the spike in token transfers in mid-May, reaching a peak of over 12 trillion tokens, suggesting a surge in trading activity or large transfers between wallets.

This aligned with the recent data from IntotheBlock, an AI-powered, programmable financial services platform, which revealed that on Monday, the number of transactions involving Shiba Inu totaled 6,390. Despite being a relatively low figure, the high transaction volume suggested significant whale activity.

On that day, transactions valued between $1,000 and $10 million surged to 2,605, a substantial increase from the 1,595 transactions recorded the previous day. This surge highlighted the critical role Shiba Inu whales played in driving transaction volume. Notably, large transactions involving at least $100,000 worth of Shiba Inu amounted to an impressive $91.04 million.

As of 6:25 a.m. ET on Thursday, Shiba Inu (SHIB) was trading in the red zone at $0.00002609. The daily trading volume saw a significant decline, dropping by 38.37% to $1,492,651,447. This price movement represents a 6.01% dip over the past 24 hours.

However, over the last seven days, SHIB experienced a 3.04% rise, and in the past 30 days, it surged by an impressive 11.37%. Despite the recent dip, these longer-term gains indicate a resilient upward trend for Shiba Inu.

The market cap of SHIB also saw a decrease, falling by 5.98% to $15,382,174,512. The circulating supply stands at 589,271,839,886,448 SHIB, according to data from CoinMarketCap.

Yona has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice.

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Shiba Inu Surpasses Cardano, Breaks Into Top 10 Cryptocurrencies Amid Double-Digit Rally

Gushiken Yona — Wed, 29 May 2024 07:48:48 +0000

Shiba Inu (SHIB) has surged past Cardano (ADA) to secure a spot among the top 10 cryptocurrencies by market capitalization. This impressive feat, marked by a double-digit rally with SHIB’s value increasing by 14.54% in the past week, highlights the growing investor enthusiasm and the expanding ecosystem behind the popular meme coin.

Shiba Inu now ranks 10th with a market capitalization of $16.71 billion, just ahead of Cardano’s $16.45 billion, based on the latest data from CoinMarketCap. The surge in Shiba Inu’s value can be attributed to several factors, including increased investor interest, recent technological developments, and broader market trends favoring meme coins.

The SHIB community, known for its strong online presence and active engagement, has played a crucial role in driving this momentum.

Cardano (ADA), previously holding the 10th position, witnessed a marginal decline, allowing Shiba Inu to capitalize on the opportunity. Despite this, Cardano remains a significant player in the crypto space, known for its strong focus on blockchain research and development.

The broader cryptocurrency market has seen various movements, with Bitcoin (BTC) leading the pack at $68,213.27 and Ethereum (ETH) following at $3,841.21. Tether (USDT), Binance Coin (BNB), and Solana (SOL) complete the top five, maintaining their positions with stable growth.

More than just a numerical milestone, Shiba Inu’s entry into the top 10 is a symbolic victory for the meme coin community, demonstrating the potential for widespread adoption and investment in these alternative cryptocurrencies. Analysts suggest that if Shiba Inu continues to develop its ecosystem and engage its community, it could maintain its upward trajectory.

On Monday, Shiba Inu (SHIB) briefly flipped Avalanche (AVAX) in market capitalization, momentarily securing a higher rank. However, Avalanche quickly regained its position, only to lose it again on Tuesday as Shiba Inu surged ahead once more. This time, SHIB did not relinquish its newfound status. Instead, it maintained its upward momentum, rallying further to clinch the tenth spot among the top cryptocurrencies. The persistent efforts and strong community support behind Shiba Inu played a crucial role in this remarkable ascent.

Shib.io’s marketing lead, known on X as @LucieSHIB, emphasized the crucial role of community support in achieving their latest milestone. In an exclusive interview with The Shib Daily, she shared, “This incredible milestone wouldn’t be possible without the amazing support from our community. This isn’t just about numbers, it’s about our shared passion for decentralized finance and the innovative spirit driving us forward. Thank you for believing in our vision and being part of this journey,” before adding, “Furthermore, even though these are just the first steps in our successful future, it’s an important milestone. It highlights that the fruits of our development will come step by step.”

As of 3:17 a.m. ET on Wednesday, Shiba Inu (SHIB) showed impressive growth, trading at $0.00002835. Over the past 24 hours, its trading volume surged by 115.67%, reaching $2,190,989,515. This remarkable activity reflects a 15.30% increase in SHIB’s value within a day, a 9.36% rise over the last week, and a 21.28% gain in the past month.

Additionally, SHIB’s market capitalization soared by 15.29%, now standing at $16,764,420,012. The circulating supply of SHIB is currently 589,271,843,439,854, data from CoinMarketCap revealed.

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Major Wall Street Firm Recognizes Shiba Inu’s Robust Presence in Crypto Market

Gushiken Yona — Thu, 09 May 2024 12:42:02 +0000

VanEck, a prominent Wall Street firm renowned for its expertise in issuing exchange-traded fund products and mutual funds, has cast a spotlight on Shiba Inu, recognizing its significant impact in the dynamic world of cryptocurrencies. The decision to include SHIB in VanEck’s meme coin index stands as a testament to Shiba Inu’s growing influence and steadfast stability within the digital asset landscape.

MEMECOIN Index by VanEck’s MarketVector

This week has brought a notable development in the world of cryptocurrencies, particularly for Shiba Inu and the broader meme coin category. VanEck’s MarketVector has made an unexpected move by launching a meme coin index, marking a significant step in recognizing the growing influence of meme coins within the digital asset landscape.

The newly introduced Meme Coin Index, trading under the symbol MEMECOIN, is designed to track the performance of the top six meme tokens. This strategic initiative by VanEck reflects a deeper understanding of the evolving dynamics in the crypto market, where meme coins have garnered substantial attention and trading activity.

Snapshot of Top Holdings in the MEMECOIN Index

The meme coin index, curated by VanEck’s MarketVector, boasts a diverse portfolio of top-performing meme tokens, each contributing uniquely to its overall composition. As of the latest data, the index’s largest holdings showcase the following allocations:

Dogecoin (DOGE): 30.77%

Shiba Inu (SHIB): 28.34%

Pepe (PEPE): 14.51%

Dogwifhat (WIF): 12.54%

Floki Inu (FLOKI): 7.14%

BONK: 6.7%

These allocations offer a comprehensive snapshot of the meme coin market’s top players, highlighting the dominant positions of well-known tokens like Dogecoin and Shiba Inu within the index.

The collective market capitalization of meme coins currently stands at an impressive $51 billion. Of this substantial figure, the MarketVector index effectively tracks $44.67 billion, underscoring its comprehensive coverage of the meme coin sector and its relevance as a key barometer for investors navigating this dynamic and rapidly evolving market landscape.

Interest in MEMECOIN Index

While VanEck’s subsidiary cautions that meme coins are primarily for entertainment, the recent launch of the Meme Coin Index has ignited significant interest among traders and investors. This surge in interest underscores the growing recognition and appeal of meme coins as a unique and dynamic segment within the broader crypto market.

Experts’ Insights

Matteo Greco, research analyst at Fineqia International, a publicly listed digital asset and fintech investment business, provided insight to The Shib Daily regarding the creation of an index for meme coins. Greco clarified that creating such an index doesn’t directly impact the assets included in it. However, it serves as a validation of the significance of meme coins within the digital asset landscape, primarily due to their high liquidity and sizeable trading volume.

“The establishment of an index doesn’t directly influence the assets included. It validates the prominent position of meme coins in the digital assets landscape. With their high liquidity and substantial trading activity, meme coins naturally prompt index creation as a reflection of their significant presence in the market,” the research analyst clarified.

The announcement of VanEck’s MarketVector launching MEMECOIN sparked significant attention and curiosity on the social media platform X (formerly Twitter), with intrigued holders seeking clarification on its purpose. Gout, an analyst, responded to these queries by explaining that the tracking or indexing activity associated with MEMECOIN is not currently attracting investment flows directly.

Rather, it is strategically undertaken to establish a robust methodology or framework that could serve as a benchmark or foundational basis for creating a fund in the future. This insight sheds light on the long-term strategic vision behind VanEck’s initiative, emphasizing its potential impact on the evolving landscape of digital asset investments.

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SHIB Dominates Last Week’s Top 20 Crypto Performers, Outshining 18 Rivals

Gushiken Yona — Fri, 26 Apr 2024 19:06:51 +0000

Amid a week characterized by volatile swings and unpredictable market conditions, Shiba Inu ($SHIB) stands out as a beacon of strength in the broader cryptocurrency market. SHIB outshone 18 of its crypto counterparts and continued to hold strong, finishing last week notably higher despite the overall erratic price action, demonstrating resilience and growing investor confidence.

Impressive Performance

CoinDesk Indices, a provider of cryptocurrency indices, has recognized Shiba Inu as the second top-performing crypto asset in its latest bi-weekly market update. The ranking was based on the substantial growth recorded by the cryptocurrencies over the previous week. Shiba Inu led the pack with a remarkable 13.6% increase, significantly outpacing other major altcoins such as MATIC, which grew by 6.8%, and UNI, which rose by 5.6%.

The list of top gainers included well-known cryptocurrencies like LINK, which appreciated by 5.4%, and XRP, with a 4.7% gain. LTC also showed a solid performance with a 4.0% increase, followed by ETH and DOT, both of which reported a 2.3% rise in their values last week. These figures underline the vibrant dynamics within the altcoin market, highlighting the diverse investment opportunities available to traders.

Underperformers in the Market

On the flip side, the crypto indices provider also shed light on several cryptocurrencies that did not fare as well. APT led the decline with a 5.1% drop in value, followed by FIL, which saw a 3.3% reduction. BCH and Elon Musk’s favored meme coin, DOGE, also experienced decreases of 1.9% and 0.8% respectively. These figures provide a comprehensive view of the market’s varying performance, offering insights into both its highs and lows over the past week.

Community and Development at the Core of Success

In discussing the recent success of Shiba Inu, @LucieSHIB, the Marketing Lead at Shib.io, emphasized the critical role of the community and developers in the project’s growth. “Over the last three years, SHIB has thrived, thanks to our dedicated community members who tirelessly promote, defend, and share knowledge about our project. Meanwhile, our developers have remained focused on building and developing the entire ecosystem, in line with Ryoshi’s vision outlined in 2021,” she told The Shib Daily. This collaborative effort has been pivotal in sustaining and enhancing the project’s impressive performance over the past few weeks.

Last week, during the Token2049 event, Shytoshi Kusama, the enigmatic lead developer of the Shib ecosystem, hinted at a secretive yet significant deal, igniting excitement within the Shib Army. Known as “Shy” within the community, Kusama initially sparked curiosity with a cryptic message in the Shibarium Tech Telegram group: “Need some help, everyone. I’m sitting with someone VERY important person. Can we give a warm woof? And welcome? Thanks in advance!” The lead developer later updated the group, announcing, “Thank you all. The deal is done. Stay tuned.” The lack of details has left the community eagerly awaiting more information, encapsulating Kusama’s typically mysterious approach.

Rerad More

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Shiba Inu Tops Robinhood Weekly Gainers: Outshines ETH, LTC, LINK with Major Surge

Gushiken Yona — Fri, 26 Apr 2024 18:13:33 +0000

This week, the cryptocurrency market witnessed a surprising turn of events as Shiba Inu (SHIB) claimed the top spot among weekly gainers on the crypto trading platform Robinhood. The meme-inspired cryptocurrency not only captured the attention of traders but also showcased a significant 11% increase in value, positioning itself as the leader in a diverse field of digital assets.

Originally introduced as a playful alternative to Dogecoin, Shiba Inu has evolved far beyond its meme coin beginnings. Over time, it has developed a strong community and an increasingly robust ecosystem, transforming into a significant player in the cryptocurrency market. This evolution has not only built its credibility but also attracted the attention of serious investors. The recent surge in Shiba Inu’s value is a clear indication of its lasting appeal and its emerging role as a mainstay in the portfolios of cryptocurrency enthusiasts.

A Standout Week on Robinhood

During a particularly active week for cryptocurrencies on Robinhood, Shiba Inu captured the spotlight with an 11% increase in its value. This marked SHIB as the top performer, outshining its nearest competitor, Litecoin, which posted an 8% increase. Chainlink also showed notable growth with a 6.1% rise, while other cryptocurrencies like Uniswap and Ether saw more modest gains of 2.9% and 1.7%, respectively. This week’s activity underscored a broader trend favoring lesser-known or “underdog” cryptocurrencies.

GM #ThisWeekInCrypto

See the full list of crypto available here: https://t.co/B41xoSGKG8 pic.twitter.com/RrQT8qTzJm
— Robinhood (@RobinhoodApp) April 26, 2024

Factors Fueling Shiba Inu’s Success

The remarkable performance of Shiba Inu can be attributed to a variety of factors. Analysts point to increased adoption and strategic partnerships within its ecosystem as key drivers. Additionally, a surge in popularity among meme coins, fueled by viral social media campaigns, has contributed to its success. The overall market dynamics and a growing recognition of the unique opportunities presented by altcoins have further propelled SHIB’s rise, indicating a shift in investor sentiment towards these alternative assets.

Bitcoin’s Halving Effect

One of the primary drivers behind the notable increase in Shiba Inu’s value was the positive momentum generated by Bitcoin, the largest cryptocurrency by market capitalization. Bitcoin experienced a bullish trend, trading in the green shortly after its fourth historic Halving event. This event traditionally forecasts a bullish market phase, influencing not only Bitcoin but also other cryptocurrencies like Shiba Inu.

Strategic Developments Under Shytoshi Kusama

The Shiba Inu development team, led by the pseudonymous Shytoshi Kusama, also played a critical role in the token’s surge. The team announced a significant milestone in their funding efforts, securing $12 million from various venture capitalists. According to Kusama, these funds are designated for the development of the ecosystem’s innovative L3 privacy chain, aimed at enhancing transaction privacy and efficiency.

Expansion of the Shib Ecosystem

Adding to the excitement, Kusama revealed plans for the upcoming rollout of the TREAT token, which will expand the range of crypto assets within the Shib ecosystem. This addition signifies a strategic expansion of Shiba Inu’s utility and offerings, promising to bolster its position in the competitive crypto market.

Current Market Standing

As of late afternoon on Friday, Shiba Inu’s trading metrics were impressive. The token traded at $0.00002545, marking an increase of 11.45% over the previous seven days and an extraordinary year-to-date surge of 141.13%. With a 24-hour trading volume of $583,934,143, a market capitalization of $15,001,266,466, and a circulating supply of nearly 589.3 trillion SHIB, Shiba Inu demonstrated robust market performance, according to the latest data from CoinMarketCap.

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A Bullish Forecast: SHIB to Reach $100B Market Cap by 2025

Gushiken Yona — Fri, 26 Apr 2024 08:16:14 +0000

Shiba Inu, the cryptocurrency that began as a meme, is now on a trajectory toward achieving a market capitalization of $100 billion by 2025. This ambitious forecast isn’t just a dream but a reflection of growing investor confidence and the evolving utility of the token within the blockchain ecosystem.

Since its inception in August 2020, Shiba Inu has grown from a quirky meme coin to a staple in the crypto community. Known for its vibrant and active community, $SHIB consistently pushed the boundaries of what a digital currency can be. It is not just a token but a decentralized ecosystem fostering innovative projects like ShibaSwap, its own decentralized exchange (DEX).

The Significance of $100 Billion

Amid growing enthusiasm, voices within the crypto community lend weight to the optimistic outlook for SHIB. Notably, an influential crypto investor and commentator known on X (formerly Twitter) as Jake Gagain shared his bullish stance. He tweeted, “I Could See BOTH $DOGE & $SHIB Reaching A 100B+ Market Cap In 2025.” This statement underscores a growing sentiment that Shiba Inu, alongside its peer Dogecoin, could rise to new heights in the valuation stratosphere.

I Could See BOTH $DOGE & $SHIB Reaching A 100B+ Market Cap In 2025.
— JAKE (@JakeGagain) April 25, 2024

Reaching a market cap of $100 billion would not only be a monumental milestone for Shiba Inu but would also signify a major shift in the perception and acceptance of meme coins in the financial world. Such a valuation would place SHIB among the giants of the industry, demonstrating that even coins that begin with a more lighthearted or whimsical premise can achieve serious financial clout and utility.

The path to this remarkable valuation is paved with significant developments within the Shiba Inu ecosystem. The upcoming launch of the L3 Privacy Chain is anticipated to enhance transaction privacy and security—a critical aspect as the global focus on data protection intensifies. Additionally, the upcoming update to ShibaSwap 1.75 and the official rollout of the TREAT token are set to further enrich the ecosystem, offering more functionality and rewards to its users.

Recent Developments and Future Projects

The journey toward a $100 billion market cap for Shiba Inu is not just about increasing numbers—it’s about the maturation of a platform that was once viewed purely as a speculative asset. If SHIB reaches this goal, it could catalyze a reevaluation of meme coins and their potential impact on the broader cryptocurrency market.

In the first quarter of 2024, the Shib Inu ecosystem witnessed a remarkable increase in market activity, as reported by Bitget, a major player in the global cryptocurrency exchange and Web3 arena. Trading volumes within this vibrant ecosystem rocketed by an impressive 416%, accompanied by a 178% surge in the number of active traders.

Further amplifying this positive trend, Bitget unveiled the top three crypto assets leading the charge within the Shib Ecosystem for the early part of 2024. Shiba Inu (SHIB) topped the list with an outstanding 190% rise in value, reinforcing its position as the cornerstone of the ecosystem.

Hot on its heels was Doge Killer (LEASH), which notched an 87% increase in its price, firmly establishing itself in second place. Rounding out the top trio, Bone ShibaSwap (BONE), serving as the official gas fee token for Shibarium—Shiba Inu’s layer-2 scalability solution—saw a 25% uptick in price.

Such achievements could herald a new era where the value of a coin is not just dictated by market speculation but also by its real-world utility and the strength of its community.

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Steadfast Support: Shiba Inu Holders Demonstrate Resilience Through Long-Term Commitment

Gushiken Yona — Thu, 18 Apr 2024 14:09:49 +0000

Shiba Inu holders have exhibited remarkable resilience and steadfast commitment to SHIB, with a significant majority retaining their holdings for over a year amid a volatile market. This not only reflects an enduring investment pattern but also underscores the unwavering dedication of the Shib Army to this dog-themed altcoin, which began as a meme coin but has since evolved into a formidable movement.

The Shib Army, a term affectionately used to describe the enthusiastic community of Shiba Inu supporters and holders, exemplified what crypto enthusiasts refer to as “diamond hands.” This term is used in the investment world to describe individuals who hold onto their assets through volatility, showing a strong commitment to their investments regardless of market uncertainties.

Data from IntoTheBlock, a leading data science company, provided a deeper look into this holding pattern. The average holding period for Shiba Inu stretches impressively to two years, signifying substantial loyalty among its investors.

Despite the challenging market conditions where only 58.18% of holders are currently “in the money,” meaning they hold their SHIB at a profit, the majority remain steadfast. This enduring commitment by holders helped stabilize SHIB’s market position, preventing potential crashes despite ongoing market fluctuations.

Further affirming the community’s dedication, a poll conducted by Cointelegraph a couple of years ago, asked followers which meme investments they continued to support. The results were telling: 63.9% of respondents affirmed their ongoing support for SHIB, surpassing Dogecoin (27.8%), and significantly ahead of stocks like AMC (4.6%) and GME (3.7%).

This poll not only highlighted SHIB’s dominant position in the meme investment landscape but also reinforced the strong, diamond-hand sentiment within its community.

Which meme investment are you still diamond handing?
— Cointelegraph (@Cointelegraph) December 20, 2022

It is worth noting that the strength of the Shib Army goes beyond just holding patterns. Shiba Inu’s significant online presence with over 3.6 million followers on Twitter and high engagement on platforms like Coinmarketcap, where it features on more than 1.8 million watchlists, underscores its popularity. Additionally, a 2022 report from Binance revealed SHIB as the third most-watched cryptocurrency on its platform, reflecting a widespread and active interest in the coin.

Social intelligence company LunarCrush revealed last week that Shiba Inu experienced an astounding surge in total social interactions, with an impressive 12,854% increase, accompanied by a nearly 400% upswing in trading volume. In just six months, the platform observed remarkable spikes in various crucial metrics: a staggering 30,743% rise in content creators discussing SHIB, a remarkable 96,655% jump in posts about SHIB receiving interactions, and a significant 12,854% boost in total interactions.

As of 9:43 a.m. ET on Thursday, Shiba Inu (SHIB) was trading at $0.00002219, accompanied by a 24-hour trading volume of $573,817,226. This reflects a slight 0.19% decline over the past 24 hours, a more significant 19.36% drop over the last seven days, and a 19.95% decrease over the past 30 days.

Despite these fluctuations, SHIB’s market capitalization experienced a modest 0.11% increase, reaching $13,056,816,498. This is based on a circulating supply of 589,289,410,812,691 SHIB tokens, according to the latest data from CoinMarketCap.

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Shiba Inu Hits Sweet Spot: Technicals Show Promising Historic Highs as SHIB Locks in Gains Above Critical Threshold

Gushiken Yona — Wed, 17 Apr 2024 12:44:36 +0000

Shiba Inu (SHIB) is currently experiencing a market resurgence, with indicators pointing towards potentially historic highs. This comes after a series of technical analyses suggested that SHIB is not only securing profits but also stabilizing above critical support levels, signaling a bullish phase for the cryptocurrency.

Market Overview

Following a period of volatility that has swept through the crypto market, Shiba Inu has shown remarkable resilience and strong performance from the start of the month. The SHIB is following a pattern similar to other major digital currencies, where crucial technical levels significantly influence market movements.

Analyst’s Take

Crypto trader who uses the X handle @CryptoCypher20, recently highlighted what could be a breakthrough phase for Shiba Inu. Currently, SHIB is said to be in a “Macro 3rd wave” of its price movement, which, according to Elliott Wave Theory often used in financial markets, suggests a strong upward trend.

Further, his analysis pinpointed Shiba Inu’s stabilization within a ‘Gray Box’—a crucial support zone—that must be maintained for SHIB to continue its upward momentum. Currently sitting between $0.00001450 and the August 2022 highs at $0.00001690, the analyst noted that SHIB needs to hold above it to remain within its projected trajectory.

He described this stage as crucial for the continuity of SHIB’s positive trend, making it a critical watch point for investors. By successfully securing gains above this threshold, SHIB could be on the verge of entering a bullish phase, signaling a green light for potential investors and a sign for current holders to possibly anticipate substantial returns.

The same analyst proactively adjusted the stop loss settings to a profitable level, effectively locking in gains while guarding against potential market downturns. This move is seen as a blend of cautious optimism, allowing investors to secure profits while protecting investments from unexpected market shifts.

The analyst’s insights came at a time when investors are keenly watching crypto movements for signs of sustainable gains. For Shiba Inu holders, staying informed on these technical markers is essential, as they not only suggest possible price increases but also provide strategies for risk management, such as adjusting stop losses to secure profits.

As the market continues to evolve, SHIB’s performance at these critical junctures will be pivotal in determining its short-term and long-term market positioning.

Market Watch

The current trading dynamics of Shiba Inu (SHIB) indicate a volatile yet recently positive market movement. As of early Wednesday morning, SHIB was trading at $0.00002221. The coin has experienced a significant trading volume of $804,350,074 over the last 24 hours, reflecting a notable increase of 5.55% in its value during this period. Despite this recent uptick, SHIB has seen a decrease of 18.74% over the past week and a decline of 16.96% over the last 30 days, showcasing the fluctuations typical of the cryptocurrency market.

SHIB’s market capitalization has grown by more than 4% to reach $13,082,567,977. This valuation is based on a circulating supply of approximately 589 trillion SHIB coins, according to the latest data from CoinMarketCap. These figures highlight the coin’s substantial presence in the crypto market, underlined by its capacity to attract significant trading activity despite broader market challenges. This performance is critical for investors to monitor as it provides insights into the asset’s volatility and potential future movements.

The post Shiba Inu Hits Sweet Spot: Technicals Show Promising Historic Highs as SHIB Locks in Gains Above Critical Threshold first appeared on The Shib Daily.

Bitcoin Lingers In $62K Teritorry As Geopolitical Strains and Halving Hype Keep Investors on Edge

Gushiken Yona — Tue, 16 Apr 2024 17:03:30 +0000

Bitcoin plummets by over 3% and remains in the $62,000 price threshold as mounting geopolitical tensions and the anticipation of the upcoming halving event continue to grip the global investment community.

Investors are treading cautiously, balancing the lure of potential gains against the backdrop of increasing uncertainties in geopolitics. This delicate equilibrium keeps the market on the knife’s edge, reflecting a world where digital and real-world dynamics are increasingly intertwined.

Market Overview

Last week, Bitcoin, the largest cryptocurrency by market capitalization, ended at approximately $65,650, marking a 5.3% decrease from its prior week’s closing of around $69,350. Despite relative stability from Monday through Thursday, the cryptocurrency experienced significant volatility, dropping to a low of $65,100 on Friday. Over the weekend, it further declined to roughly $60,650.

Expert Analysis

Matteo Greco, a research analyst at Fineqia International, a digital asset and fintech investment firm, provided a detailed analysis of the factors influencing Bitcoin’s recent price fluctuations. He highlighted the escalating geopolitical tensions in the Middle East as a primary factor, noting a brief improvement in market sentiment following a brief pause in fighting involved nations.

Greco also drew attention to the heightened anticipation surrounding the upcoming Bitcoin halving, expected between April 19 and 20. He explained that while halving events usually precede long-term market uptrends, they often trigger immediate sell-off reactions.

“The weekend’s price drop was attributed to geopolitical tensions in the Middle East, with market sentiment improving after an announcement regarding a temporary halt in hostilities among the involved nations. Additionally, attention is focused on the upcoming halving, scheduled for the night between April 19 and 20. While previous halving events have historically been followed by 9-12 months of uptrend, they have often triggered short-term ‘sell the news’ reactions before and after the event,” Greco explained in a note sent to The Shib Daily.

He further noted the market’s financial behavior, stating, “The confluence of these factors likely contributed to the observed negative price action over the weekend. This short-term bearish sentiment is also reflected in the net outflow of $85 million from Bitcoin Spot ETFs during the week, signaling increased profit-taking and investor caution following the strong uptrend in both Q4 2023 and Q1 2024.”

Trading Volume and Market Dominance

Despite the downturn, Bitcoin’s trading volumes have remained robust, with BTC Spot ETFs recording approximately $16.2 billion in weekly trading volume, averaging $3.2 billion per day. Since their inception, these ETFs have seen a cumulative trading volume of around $212 billion, with an average daily volume of approximately $3.3 billion.

Bitcoin continues to demonstrate resilience compared to the broader digital assets market. Its dominance metric, which gauges Bitcoin’s market capitalization relative to the total digital assets market capitalization, currently stands at 55.3%, the highest since April 2021.

Macroeconomic Factors and Future Projections

Addressing macroeconomic influences, Greco shared insights on the latest U.S. inflation data, which exceeded expectations, leading to revised projections for 2024 interest rate cuts. Initially, rate cuts of at least 75 basis points were anticipated, but current projections now suggest more conservative cuts of 25 to 50 basis points, with the first cut expected in Q3 and possibly another by year-end.

“The continued presence of inflation levels surpassing central banks’ targets might result in a prolonged period of tighter monetary policy. This could further contribute to the short-term challenges faced by risk-on assets, as investors realign their portfolios in response to revised mid-term expectations influenced by the latest financial indicators,” concluded Greco.

This nuanced approach to the fluctuations in the Bitcoin market underscores the critical impact of global economic and political events on cryptocurrency dynamics, offering a detailed snapshot of current trends and future expectations.

The post Bitcoin Lingers In $62K Teritorry As Geopolitical Strains and Halving Hype Keep Investors on Edge first appeared on The Shib Daily.

Singapore Government Approves GSR Markets for OTC Crypto Trading

Saha Swatilakha — Thu, 04 Apr 2024 13:04:06 +0000

In a significant move towards embracing cryptocurrencies, the Singaporean government has granted GSR Markets, a Hong Kong-based crypto market maker, a license for its Singaporean division to offer over-the counter (OTC) services. GSR Singapore has officially been granted a Major Payment Institution license, as detailed in a report. This allows the crypto market agency to conduct spot OTC and market-making services within Singapore’s regulatory framework.

It had previously secured an in-principle approval from the Monetary Authority of Singapore (MAS) back in September.

This license marks a significant milestone for GSR Markets, as it is one of the first companies of its kind to receive such approval in Singapore. The move underscores the city-state’s ambitions to become a crypto-friendly hub, as it continues to develop fair and orderly markets for digital assets.

“As one of the first firms of our type to be granted this license, we are excited to continue to lead the way in developing fair and orderly markets for digital assets,” said Xin Song, COO of GSR Group and CEO of GSR Singapore.

The regulatory nod comes as Singapore addresses concerns over speculative crypto investments by retail investors, following market turbulence during the 2022-2023 bear market. The country has expanded its crypto regulation to include custody services and all firms facilitating crypto-related fund transfers, regardless of whether they physically hold the assets or not.

MAS cautioned retail investors earlier this January against investing in spot Bitcoin exchange-traded funds (ETFs) despite their approval in the U.S. The financial regulation authority emphasized that such products are not yet recognized as eligible assets for collective investment schemes (CIS) in the region. The regulator advised individuals to exercise caution when participating in the trading of these products in international markets.

As Singapore continues to navigate the complex world of cryptocurrencies, the approval of GSR Markets for OTC services represents a significant step forward in the city-state’s efforts to establish a robust and well-regulated crypto ecosystem.

The post Singapore Government Approves GSR Markets for OTC Crypto Trading first appeared on The Shib Daily.

Massive Hoarding: Newly-Born Shiba Inu Whales Buy The Dip, Move Nearly $5M Worth Of SHIB

Gushiken Yona — Thu, 04 Apr 2024 10:01:42 +0000

A new cohort of Shiba Inu whales has decisively capitalized on recent price dips, collectively securing holdings worth an estimated $5 million in SHIB, in a bold move that underscores major investors’ confidence in the world’s second-largest dog-themed altcoin by market capitalization.

Binance and Coinbase, the global titans of centralized crypto exchanges, have experienced a notable exodus of Shiba Inu (SHIB) tokens. This departure, involving billions of tokens amounting to nearly $5 million in value, was orchestrated by a newly emerged group of investors, colloquially termed ‘newly born whales.’

These significant withdrawals were meticulously tracked and highlighted by the on-chain data analytics assistant, TheDataNerd. Through shared screenshots, it revealed an intriguing detail: the wallets executing these hefty transactions were previously inactive, with no prior transaction history.

Recent data from Arkham Intelligence, a leading crypto intelligence platform, shed light on the movements of these whales who collectively withdrew a staggering total of 183,989,266,898 SHIB tokens from exchanges. This considerable volume of tokens has been transferred away from the centralized platforms, indicating a strategic shift toward storing their assets in more secure, private wallets.

Interestingly, the strategic withdrawals occurred during a period when Shiba Inu was navigating through turbulent waters, specifically trading in the red zone with a 9% decrease in value on that day. This timing is particularly intriguing, as it underscores the whales’ market acumen and their apparent confidence in the long-term potential of Shiba Inu, despite the immediate price dip.

The decision by these whales to transfer substantial assets from centralized exchanges amid a market downturn vividly illustrates their bullish stance on the Shiba Inu token, suggesting an underlying optimism about its future trajectory. This move is emblematic of a strategic approach to asset management and highlights a prioritization of security by shifting holdings to environments perceived as safer than centralized platforms.

These actions could be interpreted as a strategy aimed at capitalizing on the market’s lower prices — a classic execution of the “buy-the-dip” approach. It signifies not only a bid to stabilize their holdings during volatile periods but also an intention to potentially increase their investment in SHIB at more favorable prices, betting on the market’s recovery and future gains.

The recent maneuvers by these cryptocurrency whales found resonance with additional data provided by the crypto analytics platform IntoTheBlock. This data reveals a staggering volume of 6.11 trillion SHIB tokens being transferred within a mere 24-hour timeframe.

Such an immense level of activity not only underscored the significant liquidity and dynamism within the Shiba Inu market but also highlighted the scale at which investors are willing to reposition their assets in response to market conditions.

As of early Thursday morning, Shiba Inu (SHIB) found itself navigating through volatile market waters, trading at $0.00002684, according to the latest data from CoinMarketCap. This reflected a modest 1.98% decline within the last 24 hours and a more pronounced 14.08% drop over the past week, despite a slight 0.11% uptick over the last month.

With a trading volume reaching $632,223,038 in the same 24-hour period, SHIB’s market activity remained vigorous, underscoring the cryptocurrency’s significant liquidity and investor interest. Shiba Inu boasted a market capitalization of $15,810,068,801, supported by a vast circulating supply of 589,289,410,812,691 SHIB tokens.

The post Massive Hoarding: Newly-Born Shiba Inu Whales Buy The Dip, Move Nearly $5M Worth Of SHIB first appeared on The Shib Daily.

Bitcoin Retreats to $64K, Historical Parallels Emerge with Liquidations Soaring Over $460M

Gushiken Yona — Tue, 02 Apr 2024 16:51:52 +0000

Bitcoin, the pioneer cryptocurrency, took a sharp nosedive, finding itself perched at the $64,000 mark on Tuesday. This substantial double-digit drop hacked away over 12% from its lofty all-time high of approximately $73,500 not only echoes historical data but also triggered a flurry of liquidations, tallying around $460 million.

In mid-March, astute analysts keenly noted that the king of crypto was flashing early indicators of a bullish resurgence. These inklings, marked by discernible trading patterns and a robust influx of investments indicate that Bitcoin is primed for a significant upturn despite experiencing volatility.

Bitcoin wrapped up the previous month on a resounding high note, clinching its highest monthly and quarterly closing prices, both surpassing the formidable $70,000 benchmark. With an impressive year-to-date rally eclipsing 57%, the cryptocurrency was seemingly geared for continued success.

Yet, as the calendar turned to a new quarter, April’s arrival brought an unforeseen twist. The first day saw Bitcoin’s value slide to $69,000, followed by a sharper decline to around $64,610 on Tuesday, swiftly erasing the gains accrued in the preceding month.

Historically, Bitcoin has exhibited notable patterns of volatility in April, providing insights into the cryptocurrency’s market behavior over the years. In April 2013, Bitcoin experienced significant price fluctuations, with its value surging from around $100 to over $200 early in the month, only to undergo a sharp correction, settling below $150 by month-end.

Bitcoin experienced a significant downturn in April 2018, with its price dropping from around $7,000 to below $6,500 amid regulatory concerns and market uncertainty. Extreme volatility was also recorded in April 2021, when Bitcoin reached a new all-time high above $64,000 before experiencing a sharp correction to below $50,000 by the end of the month.

Bitcoin’s volatility in April across various years can be attributed to a multitude of factors spanning market sentiment, regulatory developments, macroeconomic trends, technological advancements, and investor behavior. Fluctuations in investor sentiment, often influenced by news regarding institutional adoption, regulatory clarity, or security breaches, can trigger significant price swings.

Regulatory actions or announcements by governments worldwide regarding cryptocurrency can also cause uncertainty, leading to panic selling or increased confidence depending on the nature of the news. Moreover, the king of crypto’s status as a store of value and hedge against inflation makes it susceptible to macroeconomic trends such as inflation rates, interest rates, and geopolitical tensions, with economic instability often driving investors to seek refuge in Bitcoin.

Despite historical volatility, industry watchers hold optimism for Bitcoin’s performance this year. A notable shift lies in the potential impact of spot Bitcoin exchange-traded funds (ETFs), a factor absent in previous years. These ETFs are poised to play a pivotal role in shaping the trajectory of the cryptocurrency, offering investors a regulated and accessible avenue to gain exposure to Bitcoin’s value.

The recent sharp decline in Bitcoin’s price sent shockwaves through the cryptocurrency market, prompting a flurry of liquidations totaling over $450,000 within the past 24 hours alone. Data from cryptocurrency futures trading platform CoinGlass revealed that an astonishing 139,090 traders were forced into liquidation, resulting in a cumulative liquidation volume soaring to an astronomical $468.69 million.

Liquidation Heatmap by CoinGlass

Of the staggering $460 million in liquidations, the majority stemmed from long positions, with $362.27 million wiped out. Conversely, short positions accounted for $106.41 million of the total liquidation volume.

As of 12:24 p.m. ET on Tuesday, Bitcoin was trading at $65,915.81, accompanied by a robust 24-hour trading volume of $48,042,158,821. This reflects a notable 5.07% decline over the past 24 hours, along with a 6.81% dip in the last seven days, juxtaposed against a 5.26% surge over the past 30 days.

Despite fluctuations, Bitcoin maintains its unrivaled status as the king of crypto, boasting a formidable market cap of $1,296,645,895,899 and a circulating supply of 19,671,243 BTC, the latest data from CoinMarketCap showed.

The post Bitcoin Retreats to $64K, Historical Parallels Emerge with Liquidations Soaring Over $460M first appeared on The Shib Daily.

Understanding the Red Ink in the Crypto Markets

Saha Swatilakha — Tue, 02 Apr 2024 12:51:40 +0000

The global crypto market sent shockwaves through investors as it experienced a notable downturn, witnessing a 7% decrease in total market capitalization to approximately $2.52 trillion within the past 24 hours. Several pivotal factors contributed to this decline, influencing investor sentiment and shaping market dynamics.

The recent decline in the cryptocurrency market can be attributed, in part, to shifting expectations regarding the Federal Reserve’s monetary policy. This change in sentiment was triggered by stronger-than-expected U.S. manufacturing data reported by the U.S. Institute of Supply Management on Monday.

The data revealed a notable 2.5% increase in its manufacturing index, signaling the sector’s first expansion since 2022. This positive economic indicator led investors to revise their expectations for Federal Reserve intervention, specifically anticipating a reduced likelihood of monetary easing.

As a result, swap contract pricing, which serves as a barometer for market expectations regarding central bank policies, experienced a decline. This shift in market sentiment towards a less accommodative monetary policy stance by the Federal Reserve likely contributed to the downward pressure on cryptocurrency prices.

The U.S. 10-year Treasury yield and Bitcoin price have also exhibited a substantial negative correlation, standing at -90.61% over the past 6 months. On Monday, the U.S. 10-year Treasury bond yield experienced a sharp increase to 4.3%, aligning with the over 5% decline in the price of Bitcoin within a 24-hour period, data from SoSoValue, a financial research platform for crypto Investors, showed.

Moreover, the downturn in the crypto market aligned with diminished inflows into U.S. spot Bitcoin exchange-traded funds (ETFs). Earlier this week, these funds saw significant withdrawals amounting to $85.7 million, signaling a decline in investor risk tolerance. In times of uncertainty or bearish market sentiments, investors often gravitate towards cash or less volatile, traditional assets, seeking stability amidst market fluctuations.

Historically, Bitcoin has shown a pattern of price corrections before every halving event. This reduction in new token issuance typically leads to a positive impact on Bitcoin’s price. Some investors may have sold off their holdings in anticipation of a short-term correction, expecting a subsequent upswing in Bitcoin’s price. The community’s response varied, with some trending “buy the dip” while others suggested holding onto their assets.

Amidst the heightened market volatility and erratic price fluctuations, the urge to capitalize on peak levels is likely influencing investor decisions. This trend extends beyond Bitcoin, as numerous major altcoins are presently experiencing a correction. These developments underscore the intricate dynamics shaping the crypto market, highlighting the complex interplay of factors influencing investor behavior and asset valuations.

The convergence of these factors played a role in the recent downturn observed in the crypto market, underscoring the inherent volatility and susceptibility of the cryptocurrency space to a myriad of economic and market signals.

The post Understanding the Red Ink in the Crypto Markets first appeared on The Shib Daily.

Epic Shibarium Sunday: Unlock Your Share of Free NFTs at the Ultimate Giveaway Event!

Gushiken Yona — Sat, 23 Mar 2024 14:52:47 +0000

This Sunday, the X Spaces is poised to pulsate with energy as it hosts the eagerly awaited Shibarium party – dubbed the Ultimate Giveaway Event. This landmark occasion is set to usher in an unparalleled confluence of innovative minds and golden opportunities.

In an exciting announcement, Shibarium Tech’s marketing specialist who uses the X handle, @LucieSHIB, took to Twitter to update her impressive following of nearly 125,000 enthusiasts. With a tweet that quickly captured the imagination of the Shib Army and the broader crypto industry, Lucie hinted at a landmark occasion, offering attendees an exclusive opportunity to hear the latest project updates and achievements directly from the innovators.

Lucie, the driving force behind this extraordinary event, also announced a series of exclusive giveaways that are sure to captivate the community’s attention. Among the highlights is a special distribution of $SHEB tokens, from the Shiba Inu team, as well as Pets and $DAMn tokens from WoofSwap and tokens and NFTs from @SharbiToken.

But the excitement doesn’t stop there. Lucie’s announcement promises an array of special drops from a diverse selection of projects, adding layers of anticipation and engagement to the event. Attendees have much to look forward to giveaways from @theshibdream, @SleepyShibs, @MantraProtocol, @ShibaPunkz and @ShibaGeishas.

Each project brings its unique flair to the table, offering tokens and NFTs that promise to enrich the blockchain ecosystem further. Not to be missed are the giveaways courtesy of projects like @ShibCoOp, @Lumi_Shibarium, @Shibulls_NFT, @bonewhaletoken, and @BadFleaCircus, each adding to the grand tapestry of generosity and innovation that defines this event.

#Shibarium PARTY ALERT
We're thrilled to announce that numerous esteemed projects have sent gifts for our incredible community!

Join us as each project shares their latest updates and achievements. Plus, there will be plenty of free #NFTs up for grabs!

From the Shiba… pic.twitter.com/xnCbZevcGe
— 𝐋𝐔𝐂𝐈𝐄 (@LucieSHIB) March 19, 2024

The catalyst for this unprecedented wave of community engagement and excitement can be traced back to a simple yet impactful tweet from Lucie last month when she announced donating one $SHEB token in celebration of the anticipated cryptocurrency bull run. The tweet resonated deeply within the Shibarium community and what started as a modest gesture of goodwill swiftly transformed into a beacon of unity and enthusiasm among Shibarium projects.

https://twitter.com/LucieSHIB/status/1763119610818089454

The initiative to celebrate and reward the community, initiated by a single act of generosity, has been greeted with overwhelming support, underscoring the Shiba Inu community’s core ethos of mutual upliftment and assistance. This movement has rapidly expanded, attracting more projects and individuals eager to pledge their support, thereby illustrating the Shibarium community’s profound strength and warmth.

This highly anticipated event is set to unfold on March 24 at 11 a.m. ET (4 p.m. CET).

The post Epic Shibarium Sunday: Unlock Your Share of Free NFTs at the Ultimate Giveaway Event! first appeared on The Shib Daily.

Bullish SHIB Outlook: Signals Suggest Further Upsurge, New ATH Within Reach

Gushiken Yona — Fri, 22 Mar 2024 16:18:28 +0000

Shiba Inu (SHIB) saw a fervent surge Thursday, setting the Shib Army abuzz with excitement. Despite skeptics painting a somber picture for the dog-themed altcoin, astute observers fixated on technical indicators are uncovering a narrative brimming with potential for further gains.

SHIB witnessed a remarkable price surge of over 8% Thursday, catapulting from an opening price of $0.000025 to an intraday high of $0.000027. Amid the volatility, the crypto momentarily dipped before staging a remarkable V-shaped recovery.

This technical indicator signifies a rapid resurgence in market sentiment following an initial downturn, propelling the asset onto a trajectory of growth. It underscores the market’s resilience, swiftly overcoming adverse conditions and paving the way for renewed optimism and upward momentum.

The Moving Average Convergence Divergence (MACD) indicator, a tool used to identify potential changes in market momentum and direction, provides further validation of SHIB’s upward trajectory. Positioned marginally above the signal line at negative 0.00000039, it not only hints at a forthcoming surge in upward momentum for the SHIB/USD pair over the short term but also underscores a notable positive shift in market dynamics.

Furthermore, the Relative Strength Index (RSI), a widely used momentum oscillator in technical analysis, that serves to gauge the velocity and direction of price changes, stands above the threshold at 51, signifying an equilibrium within the market. This reading suggests that SHIB is neither overbought nor oversold, hinting at the potential for continued upward movement.

Adding to the bullish sentiment, the Chaikin Money Flow (CMF) indicator, a crucial tool in analyzing capital flow within a specified period, records a reading of 0.13, signaling potential capital inflow into the SHIB/USD pair and underscoring a heightened buying pressure in the market.

Intriguingly, Telegaon, known for its sharp market insights, shared projections for SHIB’s future price trajectory. Their analysis suggests that SHIB could average around $0.0000567 throughout the year, with the possibility of revisiting its recent all-time high (ATH).

Should the current growth trajectory persist, Telegaon predicted that SHIB could potentially attain a peak price level of $0.0000601 in 2024. Notably, there’s anticipation in the market that Shiba Inu might shed another zero this year, provided favorable market conditions persist.

However, in the event of a bearish market turn, the minimum price of Shiba Inu could potentially decline to $0.0000421. It’s important to note that these estimates are subject to change based on market dynamics and the level of acceptance SHIB receives, with the possibility of prices surpassing the projected levels.

While market dynamics remain subject to change, SHIB’s resilience and upward momentum paint an optimistic picture for investors.

Shiba Inu (SHIB) was trading at $0.000026, accompanied by a robust 24-hour trading volume of $1,451,494,455 as of 11:10 a.m. ET on Friday. Despite a slight 2.65% decline within the day, SHIB has witnessed a notable 10.89% drop in value over the past seven days, juxtaposed against an impressive 171.79% surge in price over the last 30 days.

Currently occupying the 11th spot on CoinMarketCap, SHIB boasts a substantial market capitalization of $15,461,693,787. With a circulating supply of 589,289,410,812,691 SHIB tokens, based on the latest data from CoinMarketCap.

The post Bullish SHIB Outlook: Signals Suggest Further Upsurge, New ATH Within Reach first appeared on The Shib Daily.

SHIB Leads The Pack, Tops Trading Volume Among Major Altcoins

Gushiken Yona — Thu, 14 Mar 2024 17:08:01 +0000

Aside from witnessing an astonishing surge of about 233% in the past 30 days, Shiba Inu has taken the lead and climbed to the top in trading volume, besting large market-cap altcoins as weekly trade volume reached a multi-year peak last week.

Meme-inspired cryptocurrency tokens have seen remarkable growth in recent weeks with their weekly trading volume soaring to $80 billion—a level of valuation that hasn’t been witnessed in years, data from data analytic firm Kaiko showed.

Trading volume—a critical metric measuring the total coins or tokens traded within a specified timeframe, usually 24 hours—serves as a gauge for a cryptocurrency’s market activity and liquidity. A high trading volume indicates vigorous market participation, suggesting ease of trading and a healthy equilibrium between supply and demand.

Conversely, low trading volumes may signal dwindling interest or a stagnant market, potentially complicating transactions at desired price points. This metric is indispensable for investors and analysts alike, aiding in the assessment of market strength, forecasting price movements, and discerning trading trends or patterns.

Data from Kaiko’s report underscored a pivotal change in the meme coin hierarchy, illustrating that SHIB’s one-week trading volume of $31 billion did more than just surpass, it significantly eclipsed, that of Dogecoin (DOGE), the meme coin market leader by market capitalization. With DOGE recording a volume of $23 billion, SHIB outshone it by a staggering $8 billion margin.

SHIB’s trading volume has been particularly striking, accounting for 38.75% of the total $80 billion weekly trading volume in the meme coin sector. In contrast, Dogecoin represented 28.7% of the total weekly trading volume.

Beyond its notable victory over Dogecoin, SHIB has outpaced the weekly trading volumes of Solana and other key large-cap altcoins, marking a significant stride in its market position. Alongside DOGE and SHIB, other contributors to this vibrant trading activity included meme coins such as Pepe Coin (PEPE), Dogwifhat (WIF), and BONK (BONK).

Notably, PEPE and the Solana-based BONK have themselves registered remarkable trading volumes of $14 billion and $5 billion, representing 17.5% and 6.25%, respectively, Kaiko’s analysis highlighted.

Data from data science and financial services platform IntoTheBlock revealed that SHIB’s aggregated daily volume is on the brink of reaching the $600 million milestone, marking a 200% surge from the figures recorded Monday. Meanwhile, Dogecoin has experienced a more modest growth, with an increase of approximately 92%.

As of 12:25 p.m. ET on Thursday, Shiba Inu’s price stands at $0.000032, backed by a robust 24-hour trading volume of $2,538,976,311. Experiencing a slight uptick of 0.08% in the last 24 hours, SHIB now ranks as the 11th top cryptocurrency on CoinMarketCap, with a market capitalization of $18,751,177,910 and a circulating supply of 589,289,410,812,691 SHIB, based on the latest data from CoinMarketCap.

The post SHIB Leads The Pack, Tops Trading Volume Among Major Altcoins first appeared on The Shib Daily.

In A Strife-Torn World, Bitcoin Is More Trusted Than The US Dollar

Gushiken Yona — Thu, 29 Feb 2024 13:59:24 +0000

In a seismic shift within the financial landscape, Bitcoin has ascended to all-time high (ATH) valuations in fourteen countries, collectively representing over one billion people and surpassing $7 trillion in gross domestic product (GDP)–signaling a widespread acceptance and confidence in the cryptocurrency across various economies around the globe. Despite this international bullish trend, the United States stands out as a significant outlier, with BTC yet to surpass its peak prices.

Insights shared by former Coinbase Chief Technology Officer Balaji Srinivasan revealed countries that saw Bitcoin hitting a new all-time high price have diverse economic backgrounds. Among these are Argentina, Burundi, Congo, Egypt, Ghana, Japan, Laos, Lebanon, Malawi, Nigeria, Pakistan, Sierra Leone, Sudan, and Turkey.

The local currency valuations of Bitcoin in these countries soared to unprecedented levels, with figures like 42,993,649.49 Argentine pesos, 7,715,409.08 Japanese yen, and 1,589,343.09 Turkish Lira, highlighting the cryptocurrency’s staggering ascent which was recorded on February 22.

Srinivasan attributed this trend to the diminishing influence of the U.S. dollar against Bitcoin, describing the fiat currency as “a vampire” that drains the vitality from other fiat currencies. He asserted that Bitcoin has managed to “flip the dollar” by showcasing a monumental increase in value against the USD since its inception, signaling a shift in the global financial paradigm.

The crypto entrepreneur’s commentary points to a profound shift in the perception of Bitcoin in comparison to the U.S. dollar. The reasons behind Bitcoin’s ATH in these 14 countries while remaining below its peak in the U.S. are multifaceted.

Economic instability, inflation, and currency devaluation in several of these nations have driven individuals and businesses towards Bitcoin as a more stable store of value and means of transaction. This shift is particularly evident in countries like Argentina and Turkey, where inflation rates have eroded the purchasing power of local currencies.

Conversely, in the United States, the scenario is quite different. Despite a significant interest in cryptocurrencies, factors such as regulatory uncertainty, concerns over volatility, and a relatively stable economy have tempered the market’s enthusiasm.

Bitcoin’s price in U.S. dollars is still about 26% below its November 2021 peak of $69,044, although it has been on a steady rise since last September, fueled by optimism surrounding the approval and trading of the first spot Bitcoin exchange-traded funds (ETFs) in the country.

The United States not reaching a new all-time high (ATH) in Bitcoin, while 14 other countries have, can be attributed to a combination of factors unique to its economic environment, regulatory landscape, and market dynamics.

As Bitcoin continues to carve its path in the financial landscape, its role as a digital gold and a stabilizing force amidst currency fluctuations becomes increasingly prominent. The discrepancy in its valuation across different countries serves as a reminder of the unique challenges and opportunities that lie in the world of decentralized finance, setting the stage for a future where digital currencies play a pivotal role in global economics.

The post In A Strife-Torn World, Bitcoin Is More Trusted Than The US Dollar first appeared on The Shib Daily.

crypto market – The Shib Daily

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