Peter Schiff, an economist and gold advocate, has criticized the increasing use of stablecoins in the United States. His remarks come as the Senate continues discussions around the proposed stablecoin bill, known as the GENIUS Act. One of the most debated points in the bill is whether yield-bearing stablecoins should be allowed under U.S. regulation. Peter Schiff Warns Against Stablecoin Amid Stablecoin Bill Debate In a post shared on X, Peter Schiff stated that U.S. dollar stablecoins “won’t do anything to help the U.S. economy or finance the U.S. government’s exploding deficits.” He added that “the primary use of stablecoins will be as trading pairs with other crypto tokens, mainly Bitcoin.” Schiff emphasized that stablecoins serve to bring more money into what he called a “crypto casino,” not to improve the financial system. Peter Schiff has remained consistent in his criticism of cryptocurrency-related products. He repeated that they would remove… Read More at Coingape.com
Shiba Inu (SHIB) is showing renewed strength, rising more than 16% over the last week of April. Despite a difficult year for meme coins, SHIB has held up better than major peers like BONK, PEPE, and DOGE.
Its strong 0.82 correlation with Bitcoin suggests it could benefit further if BTC continues its uptrend. If momentum builds, SHIB could be poised for a major rally, potentially retesting price levels not seen since late 2021.
SHIB Holds Up Better Than Other Meme Coins Amid Market Volatility
This year has been difficult for meme coins overall, with 9 out of the top 10 trading in the red.
Shiba Inu is down 33.11%, but it has performed slightly better than other major meme coins like BONK, PEPE, and DOGE, which have suffered even deeper corrections.
While SHIB’s losses are still significant, its relative resilience could position it more favorably if sentiment across the sector begins to shift.
If the broader crypto market recovers in the second quarter, SHIB could benefit alongside the entire meme coin sector. Meme coins are known for their exaggerated moves — large-cap meme coins tend to post even bigger percentage gains when the crypto market rallies.
However, they also tend to suffer sharper corrections when the market weakens. If momentum returns, SHIB could be one of the first meme coins to react strongly to renewed investor appetite for risk.
SHIB Could Ride Bitcoin’s Momentum as Correlation Hits 0.82
Shiba Inu strongly correlates with Bitcoin (BTC), currently at 0.82.
With Bitcoin gaining momentum for the second quarter, this high correlation could also position SHIB for a strong rally.
Over the last seven days, BTC has increased by more than 10%, while SHIB has climbed by over 16%. This suggests that SHIB is already reacting more aggressively to Bitcoin’s positive price action.
SHIB Correlation With Other Coins. Source: IntoTheBlock.
If Bitcoin continues to rise and breaks above the $100,000 mark—a level many analysts see as possible for Q2—it could trigger new all-time highs for the broader crypto market.
Given its high beta and strong correlation with BTC, a major Bitcoin breakout would likely amplify SHIB’s gains, making it an important token to watch in the coming weeks.
Shiba Inu (SHIB) Needs 182% Rally to Revisit 2021 Highs
In the last major rally, Shiba Inu posted impressive gains, rising 157% between September 18 and December 11, 2024.
That surge reflected a combination of stronger Bitcoin momentum, renewed meme coin hype, and broader retail participation. SHIB price has shown that once momentum builds, its rallies can accelerate quickly, often outpacing the general market.
If SHIB enters a new uptrend cycle, fueled by interest in meme coins and Bitcoin’s push higher, it would need to rise about 182% to retest the $0.000040 level.
This would mark the first time SHIB reaches that price since December 2021. Given its history of sharp rallies once momentum kicks in, SHIB could be well-positioned if the market environment stays bullish.
Ethereum price broke and consolidated below the $2,500 level on Tuesday, May 20, aligning with the tepid momentum in the broader crypto market. Key technical indicators shows that ETH price could be at risk of massive liquidations if the $2,300 support caves. Ethereum (ETH) Halts Below $2,500 as Market Awaits Further Signals Ethereum (ETH) price stagnated below $2,500 on Tuesday, down 1.8% from its recent weekly high. According to CoinGecko, ETH briefly touched $2,588 intraday before retreating to $2,482 at press time. Ethereum (ETH) Price Action | Coingecko This cooling mirrors the broader altcoin sector, where only Solana (SOL) and Tron (TRX) posted considerable gains, up 1.7% and 2.3%, respectively. With the Trump-China trade deal facing new hurdles and institutional sentiment uncertain, many investors are awaiting the U.S. Fed’s June rate decision and the SEC’s pending verdict on altcoin ETF applications slated for June 16. Ethereum Technical Analysis: Parabolic Moves… Read More at Coingape.com
XRP is down over 5% in the past 24 hours but is currently attempting a rebound, trying to push above the $2 level. After touching deeply oversold RSI levels earlier today, the token is showing early signs of recovery amid shifting macro headlines.
Despite a bearish setup on the Ichimoku Cloud, a short-term bounce is not off the table if momentum builds. However, strong resistance zones remain overhead, and whether XRP can sustain this rebound will depend on both technical breakouts and broader market sentiment.
XRP RSI Is Going Up After Touching Oversold Levels
If the RSI continues to climb and breaks above 50, it could indicate growing strength and potential price recovery. However, if it stalls or turns lower, XRP may continue to struggle for direction in the short term.
XRP Ichimoku Cloud Shows a Bearish Setup, But A Recovery Could Be On The Horizon
The Ichimoku Cloud chart for XRP shows a bearish structure. The price is trading well below the Kumo (cloud), indicating strong downward momentum.
Both the Tenkan-sen (blue line) and Kijun-sen (red line) are sloping down and currently positioned above the price, acting as dynamic resistance levels.
The cloud ahead is red and wide, suggesting continued bearish pressure and little immediate sign of a trend reversal.
However, the recent bullish candle pushing toward the Tenkan-sen hints at a possible short-term bounce or relief rally.
For a true trend shift, XRP would need to break above both the Tenkan-sen and Kijun-sen and eventually enter or surpass the cloud—a scenario that remains distant given the current formation.
Overall, the Ichimoku setup reinforces the broader weakness, with any upside likely facing strong resistance from the cloud and key lines.
Could XRP Break Above $2.20 Soon?
XRP price recently broke below the $1.80 mark for the first time since November 2024, reflecting heavy market pressure and a sharp sell-off. However, the asset has shown signs of recovery in the past few hours, attempting to regain momentum.
If this rebound gains strength, XRP could push toward resistance at $2.02, and a successful breakout may open the path to higher levels around $2.23.