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.
Shiba Inu Price Golden Cross Confirmed
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.
SHIB/USDT 4H Chart. Source: TradingView
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.
Shibarium Catalyst for Price Rebound
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.
Chainlink whales’ recent decision to hoard massive amounts of LINK coins has reverberated substantial optimism surrounding the crypto’s future price movements. On Thursday, April 24, whale data revealed that slightly over $36 million worth of tokens were bagged by large-scale investors in recent days. The upshot? Everyday traders and crypto civilians are now anticipating a price rally in one of the most renowned cryptocurrencies shortly ahead.
Chainlink Whales On Buying Spree Ignite Optimism, Here’s Why
According to the transaction tracker Lookonchain’s X post, numerous fresh whale wallets have embarked upon a Chainlink accumulation spree recently. At least 15 different wallets were recorded to have stacked 2.52 million coins, worth $36.43 million, from Binance.
Notably, these accumulations occurred over the duration of the past week. LINK coin’s price has been up nearly 13% within the same duration, in sync with the heightened buying pressure on the asset.
For context, usual market sentiments remain highly bullish in the wake of rising crypto whale accumulations, as they increase the buying pressure on an asset. Further, the spike in accumulations also signals burgeoning market confidence in a cryptocurrency.
In response, crypto commoners now anticipate whether a bullish breakout lies ahead, as also hinted by the massive Chainlink whale accumulations.
LINK Price Prediction: Here’s What Analyst Has To Say
Despite the massive accumulations recorded, LINK price has tanked over 4% intraday, closing in at $14.20. The crypto fell from a high of $15.23 in the past 24 hours. This volatile price action, despite the massive buying, has sparked some cautiousness among market watchers.
It’s worth pointing out that the current turbulent price action potentially aligns with today’s broader crypto market trend. Bitcoin’s price also faced some volatility, losing 2% in the past 24 hours, banking at $91k. Major-league altcoins have also mainly mimicked this uncertain action.
However, a renowned crypto market analyst has retained a bullish stance on LINK, irrespective of broader trends. Market expert Michaël van de Poppe recently took to X, hinting that utility & DeFi coins are going to be the leaders in the upcoming cycle.
Particularly hinting towards Chainlink, the analyst stated that “This run will likely be higher than the previous one,” sparking optimism alongside the whale accumulations.
Source: Michaël van de Poppe, X
Michaël reiterates that the crypto team has been working extensively to get major partnerships in the U.S. In turn, he believes that the token’s ecosystem has expanded massively. “Matter of time until the token reflects the growth,” he concluded.
Another Chainlink price prediction by CoinGape revealed that bulls currently remain dominant over the crypto, per the 3-month bias indicator. This signals that the coin could even hit $16 by April end.
The sentiments around the SUI price are growing and becoming more bullish day by day. After the massive rise from the bearish captivity, the investor’s attention has been over the tokens that are closely monitoring the token’s price movements. The bulls defending the dynamic support at $3.03 indicate their strong pressures as they appear to be poised to elevate the levels towards new highs. The SUI price is trying to secure the levels above $3.5, but the bears are working hard to restrict the rally below $3.4. Despite this, the token is flashing a major bullish signal, suggesting a new ATH could be on the horizon.
The volume of SUI has been on the rise since the September 2024 rebound, which surged and marked highs above $3.5 billion. This was when the price marked a new ATH. After a notable volume squeeze, the volume has begun to rise again as it surges above $1.5 billion. On the other hand, the SOL transaction count has also soared and marked levels above 10 billion for the first time in history.
The consistent rise in the transaction count suggests the network’s traffic is constantly on the rise, as the investors have been extremely vigilant over the SOL price action. Moreover, they continue to remain bullish on the token as the volume has again begun to rise, with a massive increase in the transaction count. This makes SUI one of the most monitored tokens and hence hints towards a potential upswing in the coming days.
SUI price is closely following the Elliott wave theory and has accomplished the bullish and bearish waves. Moreover, the rise from the local bottoms and the consolidation that followed raises the possibility of yet another Elliott wave in the making. Meanwhile, the Gaussian Channel has turned bullish, which suggests the beginning of a bullish trend. However, RSI displays a bearish divergence, so should this be a matter of concern?
Well, during the previous upswing, when the price marked a bullish wave, the RSI surged to the overbought levels, followed by a pullback. However, after a small consolidation, the levels triggered a rebound and entered the overbought range. It has to be noted that the RSI has sustained above the average range, within the upper bands during the bullish Elliot wave, and hence, until this pattern is maintained, the SUI price will remain under bullish influence.
Therefore, considering the Sui price will continue with the fresh Elliot wave, it could form a new ATH somewhere around $9 to $9.2 in the second half of 2025.
The post Sui Price at the Foothill of a Major Explosion: Is a 100% Rise on the Horizon? appeared first on Coinpedia Fintech News
The sentiments around the SUI price are growing and becoming more bullish day by day. After the massive rise from the bearish captivity, the investor’s attention has been over the tokens that are closely monitoring the token’s price movements. The bulls defending the dynamic support at $3.03 indicate their strong pressures as they appear to …
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