Ethereum (ETH) price showed strength despite Bitcoin’s brief pullback on Monday. Is this faux strength, or will the ETH price continue to ascend? A closer look at technical analysis and on-chain data indicates clear signs of exhaustion and a potential crash to $2,000. Sell Signs Flash as Ethereum Price Rally Stalls Below $3,000 At press time, Ethereum trades at $2,638 and is up 3.10% today. Due to the recent uptick, the market cap of ETH hovers around $318 billion. Sell Signal 1: Bearish Divergence Hints $2,000 Retest Likely On the daily chart, Ethereum’s price has been trading between $2,323 and $2,738 with signs of bullish exhaustion. While ETH produced almost equal highs in the past two weeks, the momentum indicators like RSI and AO produced lower highs. This non-conformity is termed bearish divergence and hints ETH price is due for a short-term pullback. The Relative Strength Index (RSI) has recently… Read More at Coingape.com
While the Shiba Inu price remains in a bear market, one crucial catalyst may help it surge in the near term: its soaring burn rate. SHIB trades at $0.000014, just a few points above the year-to-date low $0.00001025. This article explains the bullish case as the SHIB burn rate and staking ratio rises.
Shiba Inu Price May Benefit From the Burn and Staking Rate
A token burn is a crucial process in which a crypto project reduces the amount of tokens in circulation by sending them into an inaccessible address. It helps to reduce the supply and boosting its sentiment among investors.
Shiba Inu price may benefit from the ongoing burn rate that has reduced the number of SHIB tokens in circulation. Data show that the network has burned over 420 trillion tokens since its inception, and the rate is accelerating. The daily burn rate rose by 14.76 million on Monday, leaving those in circulation at 584 trillion.
Further, on-chain data shows that over 15,000 SHIB Army members have staked their xSHIB tokens. Over 4.83 trillion currently worth over $67 million, have been staked. That is a sign that these users anticipate the Shiba Inu price to continue rising over time.
Shiba Inu burns its tokens in a number of ways. The most common one is where holders move their tokens to a dead address. Another one is where fees generated from its ecosystem like Shibarium is changed from BONE to SHIB and then incinerated.
SHIB Can Soar 150% if Key Support Holds
A recent CoinGape article estimated that the value of SHIB would eventually surge 17x in the long term. This article cited a chart forming a triangle pattern that hinted it was in a strong buy zone.
The daily chart below adds to the optimism that the Shiba Inu price will eventually rocket higher, potentially by 150% from the current level.
This chart reveals that the coin has formed a giant double bottom pattern at $0.00001080, its lowest level in August last year and this month. It is a giant one because its neckline is at $0.000033. This price signals a near 150% surge from the current level.
There will be several key SHIB price targets to watch out before the target is reached. The first one is at $0.00001565, the neckline of the smaller double-bottom pattern that has formed this month.
Shiba Inu Price
After this, the bullish Shiba Inu forecast will be confirmed when the coin rises above $0.000022, the 50% Fibonacci Retracement level. The outlook will be canceled when the coin crashes below the double-bottom point at $0.00001080. A drop below this level will cancel the bullish view.
Despite lingering market uncertainty fueled by Donald Trump’s escalating trade war, the cryptocurrency market showed signs of recovery this week.
On-chain data reveals that crypto whales took advantage of the volatility to accumulate select altcoins, signaling growing confidence in specific digital assets.
Dogecoin (DOGE)
Leading meme coin Dogecoin (DOGE) has received significant attention from crypto whales this week. This is reflected by the spike in the number of coins purchased over the past seven days by DOGE whale addresses that hold between 100 million and 1 billion coins.
According to data from Santiment, these DOGE holders have accumulated 1.41 billion coins worth over $220 million during the review period. As of press time, their total holdings have surged to 25.68 billion DOGE, marking the highest level since December last year.
When an asset’s large holders increase their accumulation like this, it suggests increased confidence or anticipation of future price gains. If this continues, DOGE could break above the resistance at $0.17 in the near term and climb toward $0.23.
Worldcoin (WLD)
WLD is another altcoin that has caught whales’ attention this week. The Sam Altman-linked token currently trades at $0.74, shedding 1% of its value over the past week.
During that period, whales holding between 100,000 and 1,000,000 WLD have accumulated 2.63 million tokens valued above $1.94 million.
If whale accumulation persists, it could make WLD buck the broader market downtrend to record gains.
Ondo (ONDO)
Thereal-world asset-based (RWA) token ONDO is also on this week’s crypto whales’ list. According to Santiment, in the past seven days, whales holding between 1 million and 10 million ONDO have purchased 19.41 million, valued at approximately $17 million.
This cohort of ONDO investors currently holds 702.37 million coins.
Should this prompt a market-wide ONDO accumulation phase, it could signal the resurgence of interest in RWA-based assets and drive further price momentum in the coming weeks.
