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The US CPI inflation data is the next macro fundamental that crypto market participants have their eyes on, following the release of a strong US jobs data on June 6. The CPI figures could provide insights into whether the Fed is likely to cut interest rates later this year, even as hopes for a rate
The post Crypto Market Awaits US CPI Figures As Fed Rate Cut Hopes Fade appeared first on CoinGape.
Due to the market’s changing trends in the last few days, the cryptocurrency price today also remains down. Although the investors’ sentiments remain in the greed zone, the consolidation and downturn are quite common. The prime example of this is the XRP, whose price is down 2%, and other top cryptos like BTC, BNB, and ETH barely survive. Cryptocurrency Price Today: Market Divides Between Bulls & Bears The aftermath of Trump’s tariff on the EU has resulted in crash-like conditions in the crypto market. Moreover, the Fed’s delayed rate cuts are impacting the cryptocurrency price for weeks, including today. Here’s the top assets performance:- Bitcoin Price Maintains $108k Support After achieving a new milestone of $111.9k, Bitcoin maintains its $108.0k support, currently trading at $109.2k. However, despite the high BTC ETF inflows, institutional buying, and the ongoing Bitcoin 2025 conference, the token fails to surpass the $110k mark. Experts believe… Read More at Coingape.com
The post Cryptocurrency Price Today: XRP Drops 2% Despite $16B Dubai Deal; BTC and BNB Show Strength appeared first on CoinGape.
Nirvana Labs has made a significant leap forward in the Web3 landscape by acquiring the multichain query and execution platform,…
The memecoin ecosystem has joined the latest revival in the broader market, with the Shiba Inu price now in the spotlight. The memecoin has reset its bearish outlook and will break crucial price milestones in the coming days.
For Shiba Inu, the death cross formation was confirmed on April 6 when the price dropped from $0.00001232 to a low of $0.00001030.
Market data shows that the SHIB price is gradually disappearing from its earlier consolidation trend. At the time of writing, the coin’s price was changing hands for $0.00001249, up by 2.14% in 24 hours.
SHIB recovered after trading at a low price of $0.00001205 to a daily high of $0.00001265 before settling at the current level. This price boost comes as the SHIB burn rate jumped 1000% in early trading, setting the memecoin on a possible revival path.
The SHIB/USDT 4h chart confirms a golden cross pattern for the memecoin. This pattern is formed when the short-term Moving Average switches above the longer-term moving average.
Although this pattern is fully formed on the 4-hour chart, it is yet to form on the daily chart. However, with the current momentum, a confirmed breakout is possible. Already, the token has displaced Hedera and now ranks as the 17th largest cryptocurrency.
Different ecosystem factors can boost the price of Shiba Inu in the long term. One of these factors is closely tied to the outlook of Shibarium and its associated Layer-2 scaling solution.
As reported earlier by CoinGape, the Shibarium 200 million addresses milestone is near. If the network attains this landmark, it will show a clear sign of growing adoption, a move that might boost its token valuation.
Already, Shibarium has broken the 1 billion total transaction milestone. Should the Shiba Inu network continue to record organic growth, its chances of outranking Dogecoin is higher.
Amid the ongoing boost, the question remains how high the memecoin could soar. Drawing on this, a potential SHIB retest of its ATH of $0.00008844 is possible moving forward. While it will require as much as a 710% growth from current levels, SHIB can print this uptick, drawing on its historical trend.
The post Shiba Inu Price on The Verge of Breaking $0.00002 As Gold Cross Emerge appeared first on CoinGape.