What’s Next for the Chainlink (LINK) Price-Will it Reclaim $20 Before the End of the Month?

Monicah W

The post What’s Next for the Chainlink (LINK) Price-Will it Reclaim $20 Before the End of the Month? appeared first on Coinpedia Fintech News

The recent rise in the bullish momentum has elevated the markets above the bearish captivity to some extent. The Bitcoin price surged close to $94,000 but despite the drop below $93,000, the bulls are trying hard to keep the rally above the range. This stability within the top crypto has kept up the optimism among the market participants. As a result, the altcoins like Chainlink (LINK) demonstrate a huge potential of a 45% rise. 

The LINK price surged over 14% this week, hitting close to $15, displaying a notable rally this week. This positive momentum brought the token close to its recent 30-day high of $15.99. One of the main reasons for being bullish on Chainlink is the rising investor confidence, as over $120 million worth of LINK was withdrawn from the CEX. Despite the bullish sentiment, some technical signals and analyst forecasts point to volatility ahead, with a potential for a short-term dip if selling pressure escalates. 

The technicals have collectively been flashing a continuation of a bullish trend, with the Supertrend turning bullish, flashing a buy signal. On the other hand, the CMF struck levels above 0.16, hinting towards the growing strength within the markets. Additionally, the MACD showed a bullish crossover, with the levels entering the bullish range for the first time since February. Therefore, the LINK price appears to be poised to reclaim $15 anytime from now, which may transform into a strong base and secure levels at $15.5. This could validate a fresh bullish trend, elevating the levels back above $20. 

Chainlink’s robust week can be attributed to network growth, major institutional partnerships such as with Fidelity, SWIFT, and Aave, and increasing adoption of its real-world asset tokenization solutions. However, price movement is still closely tied to the broader crypto market and Bitcoin’s performance. Overall, the LINK price is enjoying bullish momentum but faces technical headwinds that could result in near-term volatility. 

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Here’s Why Shiba Inu Price Will Never Hit $0.01

Here's Why Shiba Inu Price Will Never Hit $0.01

Shiba Inu price saw a massive price increase in 2021 when Vitalik Buterin burned 410 trillion SHIB tokens sent to him by developers. This burn process led to SHIB erasing three zeros from its price within a short time. Since then, the SHIB community has been conducting regulator SHIB burns and increasing utility in an attempt to push Shiba Inu price to $0.01. In this article, we explore why SHIB price may never rally to $0.01. 

At press time, Shiba Inu price trades at $0.0000135 after a 3.5% rise in 24 hours. 

Why Shiba Inu Price Will Never Hit $0.01 

Shiba Inu price faces several obstacles in its path towards $0.01. As these factors continue to weigh on the price, SHIB may continue to record an underwhelming performance. 

Shiba Inu’s Massive Supply of 589T Tokens 

One of the reasons why SHIB price may never reach $0.01 is the massive circulating supply of 589 billion tokens. For SHIB to reach $0.01 with this supply, its market capitalization would reach $5.89 trillion. 

For context, the total supply of the crypto market is around $3 trillion. Therefore, for SHIB to reach $0.01, it would have to outperform Bitcoin, Ethereum, and the entire market. This is currently unlikely to happen in the near term due to a lack of institutional interest that shows a bearish Shiba Inu price forecast. 

A Slow SHIB Burn Process 

The other reason why the Shiba Inu price will never reach $0.01 is the slow SHIB burn process. The Shiba Inu community has been conducting regular token burning to reduce the supply. Recently the Shiba Inu burn rate soared by 5,000%, but the supply remained significantly high. 

Data from Shibburn shows that the burn rate is dropping again. This lack of a sustained surge in the burn rate will keep Shiba Inu’s supply elevated and prevent it from reaching $0.01. 

Here's Why Shiba Inu Price Will Never Hit $0.01
SHIB Burn Rate

Lack of retail and institutional interest 

Shiba Inu price may also fail to rally to $0.01 due to a lack of institutional interest. Despite being the second-largest meme coin after Dogecoin, Shiba Inu has yet to get a spot ETF filing. This may hinder significant price gains. 

Additionally, new meme coins are getting much retail interest compared to Shiba Inu. As traders flock to new meme coins for quick gains, it diminishes SHIB chances of reaching $0.01.

Shiba Inu Price Analysis

Shiba Inu price is under bearish pressure despite its recent gains. The meme coin is trading within a falling parallel channel, indicating that bearish trends are prevalent. This could trigger further losses. 

The RSI has been fluctuating below 50 for the past month indicating a lack of buyer interest. The ADX is also rising, which also shows that the bearish momentum shown in the falling wedge pattern is gaining strength. 

If these bearish trends continue and the SHIB price loses support at $0.0000128, it could push the prices lower, possibly to the $0.000009 level. 

Here's Why Shiba Inu Price Will Never Hit $0.01
SHIB/USDT: 4-hour Chart

SHIB’s technical outlook shows a bearish picture that may affect its short-term price outlook. Additionally, the slow burn rate, vast supply, and lack of demand make it unlikely for SHIB to reach $0.01 in the long term. 

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Bitcoin ETFs Report Over $4 Billion in Inflows as Institutional Demand Peaks

Bitcoin ETFs have seen inflows between $100-900 million for 10 consecutive days, reaching a total increase of over $4.3 billion. ETFs like IBIT are consistently losing their volatility, attracting new institutional investment.

Although Bitcoin has always been used as “digital gold,” lower volatility also reduces the chance of runaway gains. This ETF volatility trend is drawing corporate money, but retail investors may lose their market influence.

Bitcoin ETFs Continue to Attract Fresh Capital

These Bitcoin ETF gains are especially impactful because the market has had a few rough patches this month. Sure, IBIT has reported inflows on 30 of the last 31 days, but the broader ETF market saw multiple outflow periods in May.

Nonetheless, a bullish trend tentatively began in the middle of the month, and these gains persisted ever since.

Bitcoin ETFs' Consecutive Inflows
Bitcoin ETFs’ Consecutive Inflows. Source: HODL15 Capital

Bitcoin’s price has been doing well lately, with encouraging signs for future growth. Additionally, major corporations have been stocking up on BTC, and the trend might be reflected in the ETF market.

Analyst Eric Balchunas seems to believe that institutional investors are pumping Bitcoin ETF inflows thanks to their surprisingly low volatility.

Specifically, although BTC is typically treated as a volatile asset, it can also hedge against inflation and recessions.

Bitcoin ETFs like IBIT have been consistently decreasing in volatility for the last 90 days, while traditional assets like gold are becoming more volatile. This trend is likely encouraging big players to fuel massive ETF inflows.

Nonetheless, this approach might not be as bullish as it looks on the surface. Bitcoin products were some of the biggest ETF launches in history, as this volatility creates the potential for runaway gains.

If this volatility goes down, it might change the entire profile of the median ETF investor. Balchunas called this a “conundrum,” as different investors want different things.

Bitcoin ETFs permanently transformed the crypto industry, and this volatility assessment is one indicator of an overall trend. The ETF issuers are acting while their products receive these inflows, consistently purchasing close to 4,000 BTC on a daily basis.

Between the issuers’ appetite and other corporate holders, retail investors may get priced out of Bitcoin altogether.

For now, though, these ETF inflows are just another barometer for Bitcoin’s success. Over the last month, there haven’t been any wild price swings, but BTC has posted very consistent gains.

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XRP Price Jumps 12%, Analyst Dark Defender Flags Danger Zones

XRP News

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The crypto market’s been volatile lately and XRP is no exception. Over the weekend, as tensions flared between Iran and Israel, Ripple’s native token dipped below the $2 mark. Trading volume surged over 40% in just 24 hours as worried investors rushed to adjust their positions.

What’s Been Happening With XRP?

XRP had a strong start to the year, climbing near its previous highs back in January. Legal wins against the U.S. SEC and Ripple’s growing partnerships had fueled hopes for a breakout above previous highs. However, the recent selloff triggered by geopolitical tensions knocked the token off its path.

XRP briefly fell to $1.91 before bouncing back, but it’s now facing a tough resistance level around $2.28.

What’s Next For XRP Price?

However, now that XRP and majority of the altcoins have bounced back, altcoin season speculations are back. Popular analyst Dark Defender said that XRP is gearing up for a big move, with the price approaching an important point on the weekly charts.

xrp

According to his analysis, XRP is about to break out of a descending triangle pattern, a formation that often signals a big price shift. The token has been holding steady around the $2 mark, it won’t stay there for long. “The Break Is Imminent towards ATH,” the analyst wrote.

              Resistance Levels                     Support Levels
                        $2.19                           $2.07
                        $2.22                           $1.88
                        $2.33

XRP is still maintaining a cup pattern, which often hints at an upcoming rally. Additionally, the Ichimoku Clouds,  a popular technical indicator, are also showing bullish signs. At the time of writing, XRP price has gained 12 % and is trading at $2.19.

The post XRP Price Jumps 12%, Analyst Dark Defender Flags Danger Zones appeared first on Coinpedia Fintech News
The crypto market’s been volatile lately and XRP is no exception. Over the weekend, as tensions flared between Iran and Israel, Ripple’s native token dipped below the $2 mark. Trading volume surged over 40% in just 24 hours as worried investors rushed to adjust their positions. What’s Been Happening With XRP? XRP had a strong …