Category: Crypto market

Shiba Inu Burn Spikes 2000%—20.8M Gone in a Day

Posted on by Arslan Butt

Shiba Inu’s deflationary fire just got hotter—literally. On April 15, SHIB’s burn rate went up 2,060% with 20.83 million tokens removed from circulation according to Shibburn.

These tokens were sent to a dead wallet as part of SHIB’s long term plan to reduce supply and support the price over time.

Despite the hype, [[SHIB/USD]] didn’t exactly catch fire. The price dipped 3% and went below $0.00001200 and now hovering around $0.00001193. For many holders it was a reminder that burns help but don’t always ignite price action—especially when you’re up against a supply of 584.37 trillion tokens.

Supply vs Sentiment: The Ongoing Debate

An X user known as “wallstreetbets,” identified as a Wall Street financial expert, claimed that “Despite burns, SHIB supply remains unchanged.”

Not quite true—the supply is decreasing but the point hit a nerve. Burns alone won’t move markets without strong demand to match.

Technical Snapshot: Is SHIB setting up for a bounce?

On the charts SHIB is sitting just above support at $0.00001195—a level that bulls have defended several times this month. But the token has dropped below its 50 period EMA at $0.00001209—a short term warning sign.

The RSI is at 41 getting close to oversold. That could mean sellers are losing steam but a reversal isn’t confirmed yet.

Key Levels to Watch:

  • Support: $0.00001195
  • Resistance: $0.00001269 and $0.00001307
  • Current Price: $0.00001193

A close above $0.00001238 could trigger a quick move to the next resistance at $0.00001307. But until then SHIB is stuck in a sideways range.

Trade Setup: Tactical Over Hype

The SHIB Army is hopeful with community voices like SHIB Knight hinting at a possible “pump wave”. But given the market’s jitters and the fast fade of meme coin hype, traders might want to trade with strategy—not just sentiment.

Shiba Price Chart – Source: Tradingview

Short-Term Trade Idea:

  • Entry: Buy near $0.00001200 if support holds
  • Target: $0.00001269 – $0.00001307
  • Stop Loss: $0.00001149

Wait for a confirmation candle or RSI bounce before buying. Additional burn announcements or Shibarium updates could be the catalyst.

Conclusion

SHIB’s recent burn is a big sign of community commitment—but that alone might not be enough to spark a full breakout. In this market price movement comes from a mix of burn mechanics, technicals and fresh demand.

Until those stars align SHIB’s best bet is to hold the line and build slow and steady momentum from support.

Ethereum Price Forecast: Triangle Breakout Could Send ETH to $1,817

Posted on by Arslan Butt

A 3% weekly gain has traders waiting for a breakout. Global macro uncertainty and crypto ETF outflows have been weighing on sentiment but new technicals are hinting at a trend reversal.

A symmetrical triangle has formed on the 2-hour chart which means a big move is coming. If ETH can close above $1,690 the next leg up could take it to $1,747 or $1,817—a key resistance zone before $1,900 comes into play.

>TD Sequential Indicator Flashes Bullish Reversal

One of the best signs comes from the TD Sequential indicator—a favorite among experienced traders. It just flashed a “9” on the weekly chart—a setup that often precedes trend reversals. Crypto analyst Ali Martinez pointed this out as a strong buy signal especially since downside momentum has lost steam.

Adding to the bullish case, ETH’s RSI is above 55 and not overbought. Candlestick patterns are also showing decreasing selling pressure which often precedes breakouts.

Meanwhile a big player just opened a $12.6M long position on [[ETH/USD]]. Institutional conviction is high for a short term rally.

ETH Trade Setup and What to Watch

If ETH can hold above the trendline and 50-EMA at $1,616 the odds of an upside breakout improve. Traders are watching for a clean close above $1,690.

Ethereum Price Chart – Source: Tradingview

Trade Setup:

  • Entry: Buy above $1,692 after breakout confirmation
  • Target: $1,747 – $1,817
  • Stop Loss: $1,610

Key Takeaways:

  • ETH is forming a symmetrical triangle
  • TD Sequential “9” adds to the bullish case
  • RSI near 55.7 supports the momentum
  • A whale’s $12.6M long shows institutional conviction

Conclusion

ETH is back. $1,900 is a long shot for now but a clean above $1,690 and we’re at $1,817. Be quick, wait for volume and manage risk.

Dogecoin Price News: DOGE Bounces off Key Trend Line Support, Will It Keep Rallying?

Posted on by Louis Schoeman

Dogecoin [[DOGE/USD]] has bounced off a key trend line support level, suggesting that the meme coin could continue its rally in the coming days. The cryptocurrency, which initially gained popularity as a joke, has shown remarkable resilience in recent market conditions.

Technical Analysis Shows Strong Support

According to recent technical analysis, Dogecoin found solid support at the $0.15 level, which coincides with an upward-sloping trend line that has been in place since early February. This bounce off support indicates that buyers are stepping in at these levels, potentially setting up DOGE for continued upward movement.

“The recent price action in Dogecoin suggests strong accumulation at key support levels,” noted cryptocurrency analyst Michael Roberts. “The bounce occurred precisely at the convergence of multiple technical indicators, which often signals a continuation of the prevailing trend.”

Traders analyzing cryptocurrency market trends and technical indicators

Broader Market Context

Dogecoin’s recovery comes amid a broader cryptocurrency market that has been showing signs of strength. Bitcoin recently crossed the $70,000 threshold, while Ethereum has been trading steadily above $3,700. These positive movements in major cryptocurrencies often provide tailwinds for altcoins like Dogecoin.

Market data indicates that trading volume for DOGE has increased by approximately 23% in the past 24 hours, suggesting growing interest from traders and investors. This surge in volume, coupled with the technical bounce, could potentially fuel further price increases in the short term.

Key Resistance Levels to Watch

Looking ahead, traders are closely monitoring several key resistance levels that could determine Dogecoin’s next move:

  • Immediate resistance: $0.18
  • Secondary resistance: $0.20 (psychological level)
  • Major resistance: $0.22 (previous swing high)

Breaking above these levels could potentially accelerate the upward momentum, while failure to overcome them might result in a period of consolidation or a retest of support levels.

Dogecoin price chart highlighting the key resistance levels at $0.18, $0.20, and $0.22

Fundamental Factors

Beyond technical indicators, several fundamental factors could be contributing to Dogecoin’s recent price action. The cryptocurrency continues to benefit from a loyal community of supporters and occasional endorsements from high-profile figures like Elon Musk.

Additionally, ongoing developments in the Dogecoin ecosystem, including potential integrations with various platforms and services, could provide sustained interest in the meme coin beyond short-term speculative trading.

Conclusion

While cryptocurrency markets are inherently volatile and unpredictable, the current technical setup for Dogecoin appears favorable for continued upward movement in the near term. The bounce off key trend line support, combined with increasing volume and broader market strength, suggests that DOGE could maintain its positive momentum.

Traders and investors should, however, remain cautious and implement appropriate risk management strategies given the historically high volatility of cryptocurrencies in general and meme coins in particular.

ADA, DOGE Retreat, Ignoring the Cardano and Dogecoin ETF Buzz

Posted on by Skerdian Meta

Ada and Doge coin tried to make a bullish reversal last week, but they failed to make the bullish break and started to turn lower during the weekend.

The ETF hype can't spark a bullish rally

Continue reading “ADA, DOGE Retreat, Ignoring the Cardano and Dogecoin ETF Buzz” →

Forex Signals Brief Feb 17: RBA and RBNZ Rate Cuts – UK and Canada Inflation

Posted on by Skerdian Meta

This week the RBA and RBNZ are expected to cut interest rates, with CPI and PMI data also on schedule, but tariff, talk will set the sentiment.

The RBNZ is expected to cut rates by 50 bps this week

Continue reading “Forex Signals Brief Feb 17: RBA and RBNZ Rate Cuts – UK and Canada Inflation” →

Cardano: Google, Apple, Microsoft not Ethereum, Solana May Control Blockchain

Posted on by Olumide Adesina

Charles Hoskinson, Cardano’s founder,  expressed grave concerns regarding the future of Layer-1 networks.

 

He cautions that once regulatory frameworks transprent, tech behemoths like Meta, Google, Apple, Microsoft, and Amazon may take control of the blockchain market.

These companies could create their blockchain infrastructure given their enormous financial and technological resources,  a serious threat to the decentralized networks that are currently in place.

Nevertheless, Hoskinson’s worries attract discussion in the blockchain sector about centralization versus decentralization. “The awkward reality that many people in this field don’t want to acknowledge is,” Hoskinson said in a recent X (formerly Twitter) stream.

“Neither Ethereum, Solana nor even Bitcoin are our rivals. It’s Google and Amazon, Apple and Microsoft.” He added

“What will happen is that when the regulations are passed, we’ll wake up and they’ll say, hey, by the way, let you know, like Android now has like a default crypto wallet,” he continued.

Hoskinson highlighted concerns about how big tech firms might use their current infrastructure to upend the blockchain market. With their payment services, Apple Pay and Google Pay, he said companies like Apple and Google are in a good position to launch their stablecoins or partner with well-known companies like Circle.

Therefore, these companies have a big edge over traditional Layer-1 networks because they already have billions of users integrated into their ecosystems and control the operating systems on mobile devices.

Hoskinson thinks that in the upcoming major wave of competition in the cryptocurrency industry, centralized tech giants pose a threat to the decentralized foundations of blockchain technology.

It’s much more difficult to compete with guys who have three billion users and control the operating system that runs on your phone, he said.

 

 

 

XRP More Popular than Ethereum in Japan

Posted on by Olumide Adesina

Recent data indicates that XRP is significantly more popular among Japanese investors than Ethereum (ETH). XRP accounts for 18% of the tokens stored on Japanese exchanges. Ethereum (ETH), with a market share of 14.4%, is in third place.

Bitcoin ranks first with a 65 percent stake in the exchange’s total holdings. The market share of the top cryptocurrency has increased significantly over the last few years despite the rise of altcoins.

The popularity of XRP is not surprising considering how well-established Ripple has been in Japan for a long time. In 2016, the Japanese financial giant SBI partnered with Ripple to introduce SBI Ripple Asia, a new cryptocurrency venture.

 

Brad Garlinghouse, the CEO of Ripple, has frequently hailed Japan as one of the most crypto-friendly countries. In 2021, amidst Ripple’s legal dispute with the SEC in the US, Japan’s financial regulatory watchdog clarified that XRP was not a security.

SBI Group has also consented to use XRP Ledger first for the Japanese market. South Korea renowned for its preference for altcoins, has also seen a notable increase in interest in XRP.

South Korea was the main driver of the enormous XRP rally that occurred in the fourth quarter of the year.

 

Markets Bet High on XRP ETF

Posted on by Olumide Adesina

The odds of an XRP ETF being approved in 2025 rose to 80% on Polymarket. The likelihood of approval has shifted 23 percent in favor of the bullish masses over the last month; in January 2025, it was approximately 70 percent.

45 percent of the betters thought a favorable outcome would occur before Q3 2025 even when the approval period was restricted to July 31,

The SEC has acknowledged Grayscale’s application, a procedural step that shows the regulator is open to considering the request

It is a significant change in the SEC’s approach to crypto assets although recognition is not the same as approval,

Bloomberg ETF analyst James Seyffart highlighted that an XRP ETF wouldn’t be allowed until the SEC’s lawsuit against Ripple Labs was resolved.

Trump appointed Mark Uyeda to serve as interim chairman. He is more in sync with the president’s objectives than the previous chairman, Gary Gensler, who resigned in January. The SEC created a crypto task force under Uyeda’s leadership to formulate regulations and look into ongoing cases, including the one against Ripple.

The financial watchdog filed a complaint against Ripple in December 2020, claiming that the company sold XRP coins through unregistered securities offerings.  The court declared that non-institutional token sales were not securities offers and that the digital asset was not a security in July 2023

The SEC filed an appeal a few months after the final decision to resolve Ripple’s institutional token sales in August 2024.

Meanwhile, Ripple revealed its rebranding, highlighting its dedication to global financial innovation and the Internet of Value. The business declared that it is embarking on a new phase to revolutionize the flow of value.

The company said, “With the vision that keeps us going, the Internet of Value and changing the way you move value around the world, we’re building for the next chapter.” The launch of updated product offers is a key component of the rebrand. The website claims the platform has simplified its offerings to concentrate on stablecoins, digital asset custody, and cross-border payments.

 

 

 

Libra Catastrophe in Meme Coin Market, $4.5 billion Wiped Off

Posted on by Olumide Adesina

Argentine President Javier Milei over the weekend announced the launch of a meme coin on Solana called LIBRA to support the Argentine economy by funding small projects and local businesses,

The meme token built on SOL immediately caught the attention of traders. But even though LIBRA got off to a great start, its value has drastically declined, casting doubt on the initiative’s legitimacy.

The LIBRA meme coin was created to support local startups and small businesses, as stated on Viva La Libertad project website.  Javier Milei noted in his post on X, which was removed a few hours after it was published.

“This private project will be dedicated to encouraging the growth of the Argentine economy by financing small Argentine businesses and startups.”. Argentina is a destination for international investment.

Argentine President clarified on X, “I deleted the tweet because I didn’t know the project’s specifics and decided not to broadcast it any further after learning about it.”. Thousands of investors have lost all their money, though, and the damage is done. Threadguy, a YouTuber, claimed to have lost $250,000.

Carlos Maslaton, an Argentinean lawyer, even calls for his impeachment after a massive scam: “It’s official, there is no hacking, confirmed by everyone around him.”. Milei is actively engaged in cryptocurrency fraud. You have transgressed all ethical standards; the content is intended to defraud. Without a doubt, there are reasons to impeach. “

LIBRA’s market capitalization peaked at $4.05 billion at its launch and lost almost everything within a few hours.

The token fell from $4.50 to just $0.20, while the trading volume surpassed $1 billion. Due to the extreme volatility, many investors began to ponder whether this was a legitimate opportunity or a possible scam.

 

 

 

 BNB Generates More Fees Than Solana

Posted on by Olumide Adesina

BNB Chain is the top blockchain for daily fee generation after surpassing Solana.

The bullish trend in Binance is picking up further pace

According to data from analytics company Nansen, on February 13, BNB Chain’s daily fees topped $3.3 million for Solana and surpassed five times Ethereum’s total fees, totaling $5.8 million.

This accomplishment was the first time the industry’s daily fees were led by a blockchain other than Ethereum or Solana since October 31, 2024. Part of the reason for the increase in BNB Chain’s fee income and trading volume was the speculative trading of meme coins.

Meme coins frequently thought of as having no inherent value have emerged as one of the most well-liked use cases in the crypto industry, drawing interest from a range of people, including President Donald Trump.

The meme coin ecosystem is something that BNB Chain has stated it supports as part of its 2025 roadmap.

The decentralized exchange (DEX) PancakeSwap, which mainly uses the BNB Chain, is responsible for a sizable amount of the fees made on the BNB Chain. The largest trading volume of any DEX across all chains was recorded on February 13 by PancakeSwap.

BNB Chain’s recent spike in daily active addresses, which surpassed  Tron and Ethereum to take second place in that category, indicates that the exchange was not the only one experiencing a spike in activity.

BNB with almost 6 million active addresses over the last week,  is still lagging behind Solana, which holds a 35.8 million advantage in active addresses.