Shiba Inu (SHIB) is down 1% in 24 hours, extending the ongoing correction after bulls faced rejection at $0.0000159 over the weekend. However, technical analysis and two on-chain metrics hint at an incoming 43% Shiba Inu price surge to $0.000021. Catalysts That May Drive a 43% Shiba Inu Price Rally to $0.000021 Like most meme coins, Shiba Inu tends to track Bitcoin’s price movements. At press time, BTC had shed 0.7% of its value, which explains the ongoing downtrend in SHIB price. However, with the market sentiment still in “greed” territory, SHIB has room to recover. The main catalysts that will drive this recovery include: Bull flag pattern teases 43% surge Social volumes explode by 155% Network profit/loss ratio signals a SHIB bottom Bull Flag Pattern Teases 43% Surge A bull flag pattern has emerged on Shiba Inu’s daily price chart. This pattern occurred as the price of Shiba Inu… Read More at Coingape.com
Popular economist Peter Schiff believes that Bitcoin will accelerate the demise of the U.S. dollar if the government adopts it as a US strategic reserve. Last Sunday, President Donald Trump signed an executive order to declare BTC along with a few other altcoins as part of US reserves. Investors are now awaiting more details at the first White House Crypto Summit scheduled on Friday.
Peter Schiff Predicts Dollar’s Demise Amid Bitcoin’s Rise
Economist Peter Schiff has expressed concerns on the implications of the United States creating a strategic BTC reserve. He stated that if BTC’s success hinges on the failure of the U.S. dollar, such a move would hasten the dollar’s decline. However, Schiff believes that in this fight of BTC vs USD, Gold will emerge as the ultimate winner.
“This development might provide a short-term boost for Bitcoin, but in the long run, gold will emerge as the ultimate winner.”
His comments reflect ongoing debates about Bitcoin’s role in global financial systems and its potential to disrupt traditional fiat currencies. Schiff’s comments also reflect upon macro conditions and the volatility in the US market as the Trump trade war kicks off.
While Schiff is against BTC reserves, market veterans like Robert Kiyosaki believe that Bitcoin will resolve America’s financial woes. He asserts that individuals who sold their BTC during the recent market crash may regret missing out on potential gains, while those who held onto their holdings will emerge as ultimate winners.
Will BTC Price Rally Continue Past $100,000?
Just ahead of the first White House Crypto Summit scheduled for Friday, Bitcoin and altcoins are showing strength once again. The BTC price is up by an additional 6.24% in the last 24 hours and is currently trading at $92,296 levels with a market cap of $1.830 trillion. As per the coinglass data, the BTC open interest is also up 8.09% to more than $51.38 billion.
Crypto analyst Ali Martinez suggests that if Bitcoin (BTC) reclaims the $97,000 level, it could gather momentum for a potential surge toward $150,000, as indicated by the Pi Cycle Top metric.
Source: Ali Charts
On the other hand, altcoins are also showing strength with Ethereum (ETH) price recovering more than 15% from the weekly bottom of $2,000.
American financial technology company Visa has launched stablecoin payments in the Latin American (LATAM) region. The firm launched the product in partnership with Bridge, a Stripe company, as it looks to broaden access to stablecoin payments in multiple countries. Under the partnership, the company said Bridge Fintech developers can offer stable assets with a single API integration.
The Visa Stablecoin Offering
In its announcement to shareholders, Visa said customers can access the offering at local shops where its services are available. With a network of over 150 million merchants, the fintech giant reiterates its commitment to advancing payments initiatives.
The alliance with Bridge will also permit the issuance of new card programs in Colombia, Ecuador, and Mexico. Despite its bold step in this region, the company plans to expand into other markets in the coming months.
This update comes as rival Mastercard launched a solution for stable token transactions earlier this week. The move confirms the high stakes fintech firms are placing on stablecoins amid changing regulatory trends around the world.
The US Department of the Treasury predicts that the stablecoin market could reach a market capitalization of $2 trillion by 2028. This marks a sevenfold increase from its current level of approximately $240 billion.
Meanwhile, MEXC COO has stated that this milestone may be achieved sooner, possibly by next year.
Why the Stablecoin Market is Set to Explode by 2028
Institutional interest in crypto products, such as Bitcoin (BTC) and Ethereum (ETH) ETFs, is increasing. Notably, stablecoins play a central role in blockchain-based transactions, especially as the tokenization of financial assets expands.
Additionally, clearer regulatory frameworks, including the potential inclusion of stablecoins in liquidity management strategies and allowing banks to access public blockchains, would integrate stablecoins into traditional financial systems. The developments position these assets for significant market expansion.
“Evolving market dynamics, structures, and incentives have the potential to accelerate stablecoins’ trajectory to reach ~$2 trillion in market cap by 2028,” the report read.
Currently, USD-pegged stablecoins dominate the market, accounting for over 99% of the market cap. Tether (USDT) is the leading player, with a capitalization of $145 billion. Circle’s USDC (USDC) comes in second with a market cap of $60 billion.
Thus, their growing adoption could significantly impact the banking and Treasury markets. Stablecoins, particularly those that are yield-bearing or offer unique payment features, could lead to a shift in demand from traditional bank deposits to stablecoins. This, in turn, could force banks to raise interest rates or find alternative funding sources.
Additionally, the report noted that stablecoin adoption could increase demand for short-term Treasuries. This is contingent on the passing of the GENIUS Act. The proposed bill mandates that stablecoin issuers hold US Treasuries as reserves.
Additionally, the reserve requirements outlined in the bill could help mitigate the risk of de-pegging. This would reduce the need for issuers to rely on the Federal Reserve during times of stress or volatility.
“Demand in stablecoins could have a net neutral impact on the US money supply, however the attractiveness of USD-pegged stablecoins could drive currently non-USD liquidity holdings into USD,” the report added.
MEXC COO Predicts $2 Trillion Stablecoin Market by 2026
“With many sovereign banks and corporations exploring stablecoin issuance, particularly in other fiat currencies, and governments prioritizing regulation clarity, the stablecoin market cap could exceed $2 trillion by 2026,” Jin told BeInCrypto.
Jin highlighted that ongoing macroeconomic uncertainty will likely drive further growth in stablecoin market capitalization.
“Despite the recent volatile market landscape, stablecoin demand has remained resilient, growing over $38 billion year-to-date. Stablecoins now account for 1% of the global M2 USD money supply, processing over $33 trillion in volume in the last year, including $2.8 trillion in the last month alone,” she said.
According to Jin, the expanding role of these assets in decentralized finance (DeFi), cross-border payments, and digital asset trading is expected to be crucial in the next phase of cryptocurrency market growth and the broader mainstream adoption of digital assets.
Their capacity to provide stability and liquidity, particularly during times of market volatility and liquidity shortages, solidifies their importance as a core asset for institutional and retail investors.
