The new DeepSeek R1 model from China launched last week. If you’re into AI or even into technology more broadly, it was hard to miss the news. Everyone was talking about it. But it’s not just that. It’s the way everyone was talking about it. I was left with the impression that DeepSeek is going to drive a stake through the heart of OpenAI and Anthropic.
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Shiba Inu (SHIB) Price Trajectory Largely Depends on Bitcoin
Shiba Inu (SHIB) has been experiencing mixed signals in recent weeks. The meme coin has made attempts to secure a breakout, but this effort hinges heavily on investor support.
Unfortunately, this support has been weak recently, forcing SHIB to rely on the broader market, particularly Bitcoin (BTC), for direction. If Bitcoin continues its upward trajectory, Shiba Inu may have a shot at a recovery rally.
Shiba Inu Needs Support
The MVRV Long/Short Difference for Shiba Inu is currently at a 6-month low, a key indicator suggesting that short-term holders are experiencing substantial profits.
This is a bearish sign for the cryptocurrency, as these investors are typically more inclined to sell when they are in profit. As a result, the potential for a sell-off is higher, and the price of Shiba Inu could take a hit as these holders exit their positions.
This behavior could put downward pressure on SHIB, limiting its chances of maintaining or building upon its recent gains. The lack of strong support from long-term holders, combined with the large profit-taking from short-term traders, creates an unstable market dynamic for Shiba Inu at present.
Shiba Inu’s correlation with Bitcoin remains strong, currently sitting at 0.77. This indicates that SHIB tends to move in tandem with Bitcoin, and as the largest cryptocurrency gradually recovers, Shiba Inu could follow suit.
Bitcoin’s potential rally toward the $90,000 mark would likely provide the necessary boost for SHIB to continue its own recovery.
If Bitcoin breaches the $90,000 level, it will instill further confidence in the broader cryptocurrency market. This, in turn, could help lift Shiba Inu from its current consolidation phase, giving it the momentum needed to push past key resistance levels.
SHIB Price Is Aiming At Recovery
At the time of writing, Shiba Inu is trading at $0.00001296, just above its support level of $0.00001275. The altcoin is attempting to hold this support and bounce off it, but its ability to maintain this level depends on market conditions.
Should Bitcoin rise further, Shiba Inu may find some support to reach or surpass the $0.00001462 barrier. However, if Bitcoin experiences a slip, SHIB will likely remain consolidated around $0.00001275 or potentially fall to $0.00001141, depending on the strength of the bearish pressure.
The only way this bearish-neutral outlook would be invalidated is if Shiba Inu breaks through the $0.00001462 resistance and flips it into support.
A successful rally above this level could pave the way for SHIB to rise to $0.00001676 and beyond, marking the start of a more bullish trend for the meme coin.
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Venus Protocol Breaks New Ground: Key Takeaways from Messari’s ‘State of Venus Q4 2024’ Report
In its latest “State of Venus Q4 2024” report, Messari offers a comprehensive analysis of Venus Protocol’s performance over the past quarter. The report highlights the protocol’s impressive growth, key innovations, and strategic advancements, particularly its sustained leadership on BNB Chain and continuous improvements in the DeFi space.
Robust Growth and Market Performance
In Q4 2024, Venus Protocol demonstrated strong performance, maintaining its status as the largest lending protocol on BNB Chain. The protocol continued to see substantial user adoption, with total value locked (TVL) remaining resilient despite broader market fluctuations. The quarter also saw significant improvements in liquidity, borrowing demand, and supply-side growth.
Protocol Enhancements and Security Measures
Venus Protocol made key technical advancements in Q4, enhancing its risk management framework to improve capital efficiency while maintaining robust security. The team introduced new governance proposals aimed at optimizing reserve factors, improving oracle reliability, and refining liquidation mechanics. These updates ensure Venus remains one of the most secure and efficient lending platforms in the DeFi space.
Expansion and Ecosystem Growth
The report highlights Venus’s continued ecosystem expansion, with integrations into new chains and collaborations that strengthen its cross-chain lending capabilities. Additionally, the protocol has deepened its partnerships with leading DeFi platforms to enhance liquidity and utility for its users.
Looking Ahead
With a strong foundation and a clear roadmap for 2025, Venus Protocol remains focused on innovation and sustainability. Future developments include further enhancements to its risk engine, governance refinements, and the potential expansion to additional blockchain networks.
Venus Protocol’s Q4 2024 report underscores its position as a market leader in decentralized finance, reaffirming its commitment to providing a secure, efficient, and scalable lending platform for users worldwide.
For more details, read the full Q4 2024 report on Messari
About Venus Protocol
Venus Protocol is the leading decentralized lending and borrowing platform on BNB Chain, offering users seamless access to crypto-backed loans, yield generation, and an innovative governance model. By providing a secure, efficient, and scalable DeFi ecosystem, Venus empowers users to maximize their digital asset holdings.
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Hilbert Group And Xapo Bank To Launch $200 Million Bitcoin-Denominated Hedge Fund In September 2024 – A Game-Changer For Institutional Investors
In a bold move set to reshape the crypto investment landscape, quantitative investment firm Hilbert Group has announced a strategic…