Shiba Inu meme coin has recently rattled the crypto market by following one of the latest trends in the sector. The crypto’s team shared an X post this Friday that read, “Shib is for everyone.” This post follows the recent “Base is for everyone” token buzz.
Notably, Coinbase Layer 2 network Base earlier posted a very similar comment on X. As an upshot, the crypto realm saw the unintended launch of a new coin, with its price skyrocketing momentarily before falling from grace.
Shiba Inu Team Shares “Shib Is For Everyone” Post After Base, Here’s The Scoop
Shiba Inu team’s account @Shibtoken shared an X post on April 18 that read, “Shib is for everyone.” Further, the team shared another post soon after that read “Coined it.” The latter post was linked to Zora, a platform that allows users to mint content as tokens.
As mentioned above, these posts mainly follow the Coinbase L2 network’s recent chronicle. It’s noteworthy that the Layer 2 network shared an X post that read “Base is for everyone, followed by another post that read, “Just coin it,” linking it to the platform Zora.
The upshot? A domino effect kicked in, and these posts by the Layer 2 network ignited the launch of a new token that wasn’t even officially verified. Notably, this new token soon hit a market cap of over $20 million before erasing over 40% in value and retracing to $11 million. In turn, crypto market traders and investors are left abuzz amid this token’s launch, whilst the Shiba Inu team is now following similar footsteps.
It’s notable that some crypto traders even turned a mere $4.5K investment into a whopping $666K with the new “Base is for everyone” token. This saga put a major spotlight on the crypto project, with some even tossing insider trading and rug-pull allegations.
Did SHIB Price React Similarly To “Base Is For Everyone” Token?
Meanwhile, the hourly SHIB price chart shows that the meme coin witnessed a 1% uptick after the post by @Shibtoken, reaching $0.0000118. Its price recovered after hitting a low of $0.00001164 intraday. Notably, market experts like IAmCryptoWolfy are wondering about the sudden jump in Shiba Inu price, highlighting the surge on X.
Source: IAmCryptoWolfy, X
However, this upward trajectory is relatively diminished compared to what the new Base token witnessed before falling. Besides, CoinGape recently reported that SHIB’s daily volume has also hit remarkable levels. As a result, traders and investors remain optimistic about what lies next for the meme coin’s price as it taps into one of the latest market trends amid bullish dynamics.
Bitcoin is testing range lows, and Ethereum has tapped its lowest price since November 2023 today – so it’s a huge opportunity for traders to secure discounted prices before the next leg up.
But what are the best crypto to buy? This article reviews five promising projects that could have 100x potential this year.
Solaxy
Solaxy is building the first-ever Solana layer 2 blockchain. Using off-chain computation and transaction bundling technology, the project will eradicate Solana’s congestion issue.
It’s a huge leap forward for the Solana ecosystem, making it cheaper, faster, and more reliable. This will open Solana to new users and use cases, potentially creating billions of dollars in new value.
And right now, SOLX is undergoing a presale. It’s a way for investors to join from the start. The presale has raised $25.7 million so far. It’s currently priced at $0.001658, but this will rise throughout the campaign.
Solaxy is at a rare juncture right now. Not only is it opening Solana to new possibilities, but it’s also available to buy from the ground floor. For SOLX presale participants, this setup could give 100x gains.
MIND Of Pepe
MIND Of Pepe is a new Pepe-themed AI agent that aims to make its holders money. The agent has a wide range of abilities, including trend analysis, launching tokens, interacting with dApps, and even writing social media posts.
It covers all angles, from identifying trading opportunities to creating them and then shaping social discourse around them.
But its bread-and-butter is trend analysis. MIND Of Pepe will consolidate social media and on-chain data into actionable insights to predict future trends, helping MIND holders know what to buy and when.
Moreover, it can also fill gaps in the market by launching its own tokens. Again, MIND holders will have first access, providing them with the best entry prices.
The project is undergoing a presale and has raised $7.2 million so far.
As MIND Of Pepe seeks to make its community more profitable, the project is positioned to amass significant adoption, which could make the MIND presale a highly lucrative opportunity for traders.
Mantra
Bitcoin, Ethereum, and XRP are all down today, as are many smaller altcoins. However, Mantra continues to push ahead in what’s becoming a running theme throughout the past year.
While the total crypto market cap is down 3.8% in the past 24 hours, Mantra is up 2.5% in the same window. It’s clear that investors see real value in the Mantra use case.
The reason is that Mantra is a real-world assets-focused layer 1 blockchain, providing a regulatory-adherent environment for institutions to tokenize their assets.
It’s a use case that veers outside the walled garden of normal crypto use cases and penetrates the traditional financial system. And it isn’t just today that Mantra has outperformed the market. Its price has surged by 2,000% in the past year.
Mantra has a $6 billion market cap, so it’s unlikely to give 100x gains this year. However, given its immense strength and focus on institutional adoption, there’s every chance it will become a top-five cryptocurrency and potentially rival XRP and Ethereum in the coming years.
Hedera
Hedera offers an alternative to traditional blockchain platforms with its Hashgraph distributed ledger technology. Unlike conventional blockchain systems, Hedera’s architecture provides improved efficiency in several key metrics.
The platform processes transactions with fees of approximately $0.0001 USD and confirmation times under five seconds. Hedera’s network can handle more than 10,000 transactions per second, which compares favorably to the 5-20 TPS typical of many proof-of-work blockchains.
HBAR, the network’s utility token, experienced significant price movement in late November 2024, rising from $0.04 to $0.37 before settling at around $0.20. This price activity reflects growing market awareness of the platform’s capabilities, with the recent downturn being attributed to the general crypto market.
According to crypto analysts at More Crypto Online, HBAR is looking for downturn confirmation between $0.09 and $0.016. However, its mid-term outlook is extremely positive, with potential targets at $0.4 and $0.6.
With a governance structure managed by the Hedera Governing Council and features designed to support enterprise applications, Hedera aims to address practical business needs while maintaining security and decentralization principles. As organizations continue to explore blockchain alternatives, Hedera’s focus on performance and regulatory compatibility may position it for increased adoption.
BTC Bull Token
BTC Bull Token is a Bitcoin-themed meme coin that pays its holders Bitcoin rewards. The idea is to increase Bitcoin ownership among meme coin fans and offset some of the volatility of meme coin investing through airdrops.
Users will receive free BTC and BTCBULL airdrops at key milestones on Bitcoin’s journey to $1 million. At the same time, Bitcoin-related cryptos tend to track Bitcoin’s price, so we can also expect the BTCBULL price to grow as Bitcoin rises.
Users also earn even more via the project’s staking mechanism, which is live now and offering a 123% APY.
BTC Bull Token also has a burn mechanism, which destroys a portion of the total supply at key price milestones.
The project is available to buy via an ongoing presale, which has raised $3.4 million so far.
With Bitcoin rewards at its core and multiple other community reward initiatives, meme coin fans are scrambling to buy BTCBULL. This positions it for significant growth in the coming months.
The post Best Crypto to Buy: Top Cryptocurrencies to Turn $100 Into $10,000 appeared first on Coinpedia Fintech News
Bitcoin is testing range lows, and Ethereum has tapped its lowest price since November 2023 today – so it’s a huge opportunity for traders to secure discounted prices before the next leg up. But what are the best crypto to buy? This article reviews five promising projects that could have 100x potential this year. Solaxy …
BlackRock Bitcoin ETF inflows have once again skyrocketed as the asset manager scoops up 5,613 BTC from the open market on Monday. This marks 15 consecutive days of inflows for BlackRock iShares Bitcoin Trust (IBIT), netting a total of $4.5 billion in this period. On the other hand, BTC price remains steady at $94,500 levels, with institutional interest highlighting an upside to $100K and beyond.
BlackRock Bitcoin ETF Inflows On the Rise
BlackRock’s iShares Bitcoin Trust (IBIT) has stormed the market once again with overall inflows for 15 consecutive days in a row. On Monday, the asset manager scooped an additional 5,613 BTC worth $530 million, with its total inflows since inception crossing $44 billion once again.
Source: Thomas Fahrer
Additionally, data shows that asset manager BlackRock has significantly increased its stake in the iShares Bitcoin ETF, boosting its holdings by 124%, during the first quarter this year. This move brings BlackRock’s total investment in the ETF to an impressive $314 million, signaling a growing institutional appetite for Bitcoin exposure amidst evolving market conditions.
On Monday, the overall Bitcoin ETF inflows stood at $425 million. While BlackRock’s IBIT recorded $530 million in inflows, Fidelity’s FBTC, Bitwise’s BITB, Grayscale’s GBTC, and others saw net outflows yesterday, per data from Farside Investors. Bloomberg’s senior ETF strategist Eric Balchunas stated:
BlackRock’s “IBIT in the top spots, just like last year when ‘beta with a side of bitcoin’ was the big theme. $IBIT now 8th in YTD flows (was out of Top 50 at one point) with +$6.4b. Been hoovering up btc like a madman ever since the decoupling”.
Source: Eric Balchunas
BTC Price Eyes $100K Levels
BTC MVRV levels show that much of the froth has been removed as the Bitcoin price flirts around $94,500 levels over the past week, while setting the stage for gains to $100K levels. Popular crypto analyst Kyledopps reported:
“The froth is gone — the reset is real. Bitcoin’s MVRV just touched its long-term mean at 1.74 — a classic sign of flushed-out unrealized gains. Hold this level? It’s a clean reset and a setup for recovery”.
Source: Kyledoops | Glassnode
It will be interesting to see how soon BTC can resume its journey upwards of $100K as the CoinGape Bitcoin price prediction indicator shows the asset will flirt around $94,600 over the next month. However, continued inflows into Bitcoin ETFs can provide an additional catalyst for the rally ahead.
Ethereum price has been experiencing a prolonged bearish trend, raising concerns among investors and analysts. Recent technical analysis suggests that the cryptocurrency’s price could decline further, potentially reaching as low as $1,060. Multiple factors, including weak market structure, lack of bullish momentum, and negative on-chain data, influence the downward movement.
Ethereum Price Faces Continuous Rejections at $4,000 Resistance
According to price analysis by Mags, Ethereum has failed to break the $4,000 resistance level three times in this cycle. Each rejection has led to a further decline, with the latest downturn pushing the cryptocurrency below its mid-range level. The price is now also trading below an upward-sloping trendline support, which had been holding since the previous cycle bottom.
Analysts warn that Ethereum could continue its decline if it does not reclaim $2,500 in the near term. A further drop below the current levels could expose ETH to a potential fall toward $1,060, where the range low is positioned. The lack of strong support suggests that downward movement remains a strong possibility.
Source: X
Market data indicates that Ethereum price remains under bearish pressure. The altcoin has not shown signs of establishing a solid bottom, raising the risk of prolonged losses. Without a strong recovery above resistance levels, the bearish trend may persist.
ETH/BTC Pair Remains in a Bearish Trend
Additionally, the ETH/BTC trading pair has been underperforming, signaling weakness in Ethereum’s relative strength against Bitcoin. The Relative Strength Index (RSI) on the three-day chart remains below 30, a level that often indicates oversold conditions. However, historical trends show that oversold levels have not always marked a definitive bottom for Ethereum price.
Since mid-2024, ETH/BTC has recorded multiple breakdowns, with declines of 13%, 21%, 25%, and 19.5%. The 50-day and 200-day Exponential Moving Averages (EMAs) continue to trend downward, reinforcing the bearish outlook.
Additionally, analyst CarpeNoctom has pointed out that ETH/BTC has yet to confirm a bullish divergence on its weekly chart, further suggesting that ETH price could struggle to find support.
Source: X
Declining ETF Flows and Weak On-Chain Activity
Since the start of the year, Ethereum-based exchange-traded funds (ETFs) in the US have seen consistent outflows. In March 2021, the net assets of spot Ether ETFs decreased by 9.8%, amounting to $2.54 billion. Bitcoin ETFs, on the other hand, suffered a slight decrease of 2.35% to $35.74 billion. This divergence indicates that institutional fund managers are losing interest in Ethereum.
Further, there is decreasing network usage evidenced by on-chain data. It is worth mentioning the median gas fees have declined on the mainnet and fluctuating at approximately 1.12 GWEI in March. This is a far lower turnover as compared to the previous calendar year, meaning that there are less transaction taking place on the network.
Technical analysts believe that the future performance of Ethereum price is not looking good as it remains below some key levels.The next level of support is at $1,060 which blends with the lower limit of the long-term trading range.
As of this writing, the altcoin is trading at $1,923.03, which is 27.81% low from the previous month. Despite a market cap of $231.96 billion, the ongoing downward trend suggests continued selling pressure.
