Markets

TL;DR Shiba Inu’s burn rate soared significantly today, with over two million tokens removed from circulation. However, SHIB’s price remains deep in the red, coinciding with an overall crypto market correction. The Latest Spike Shiba Inu’s burn rate increased substantially today (May 1), jumping 90% compared to the previous day. This resulted in over two million assets being removed from circulation. According to Shibburn, almost 1.7 billion SHIB tokens were burned last...

Bitcoin’s price has been consolidating above $60K over the last few months. Yet, the price has broken below the level today, and investors are in a state of panic, wondering if the bull market is over. Technical Analysis By TradingRage The Daily Chart On the daily chart, the price has created a large descending channel pattern since March. Yet, it has broken it to the downside, and the cryptocurrency is aggressively dropping toward the $52K support level. The 200-day moving...

The crypto market has faced a massive correction over the past month – and new investors are proving incapable of stomaching the volatility. Blockchain data show that 2024 Bitcoin buyers, who entered a raging early-year bull market in which Bitcoin (BTC) surged to a new all-time high, are now panic selling at a loss as the asset’s price reverses course. Paper Hands Bitcoin Buyers According to Glassnode, on-chain “realized losses” have surged over the past two months during...

Polkadot’s price has been dropping rapidly over the last couple of months and is yet to show any sign of slowing down. However, the cryptocurrency might soon begin a bullish rebound. Technical Analysis By TradingRage The Daily Chart On the daily chart, the price has been on an aggressive decline since a rejection from the $12 resistance level. The market has also broken below the bullish trendline that has been formed since October 2023. The 200-day moving average, located...

The Federal Reserve decided to maintain its benchmark interest rate of 5.25%% to 5.5% at the highly anticipated Federal Open Market Committee Meeting (FOMC) on Wednesday, following a fearsome 6% drawdown in Bitcoin’s price earlier that day. Within five minutes of the announcement, Bitcoin’s price rose from $57,300 to $57,700 Per a press release, the central bank said it also plans to slow down the rate at which it sells US Treasury securities starting in June, reducing its...

Binance founder and former CEO – Changpeng Zhao a.k.a CZ – received a four-month prison sentence after pleading guilty to violating US anti-money laundering laws at the world’s largest cryptocurrency exchange. In the first tweet following the sentencing, CZ revealed his intention to remain a passive investor and holder in the crypto industry while simultaneously highlighting the importance of compliance in the industry. CZ Reacts In his final tweet before beginning his...

TL;DR Dogecoin (DOGE) faces a 15% weekly price decline but shows potential for recovery with a rise in non-empty wallets, hinting at increased demand. Shiba Inu (SHIB) and Bonk Inu (BONK) also exhibit signs of resurgence; SHIB, through network upgrades and token burns, and BONK with a significant price increase, positioning it among the top 5 meme coins. Dogecoin (DOGE) The meme coin sector has suffered heavy losses recently, with its market capitalization dipping well below...

The recent decline in the price of cryptocurrencies, followed by a possible increase, suggested that there is volatility in the industry. Even though the market reached previously unheard-of heights during the Bull Run, corrections frequently happen and impact all coins. This market volatility emphasises how crucial it is to navigate the cryptocurrency space with caution and knowledge. It’s wonderful to learn that Bitgert Coin is becoming more popular and 1 the...

As the crypto market remains favorable and Bitcoin reaches new heights, altcoins and memecoins are also gaining popularity. In this situation, investors are always opting for fresh chances and possible treasures that might provide larger profits. PEPE and SHIBA INU, two major memecoins that have drawn interest from traders, are gradually falling. In the middle of the chaos, one new currency is popping up: BEFE. BEFE is a strong choice for investors looking for...

Solana price gained bearish momentum below the $140 level against the US Dollar. The price is now trading below $132 and the 55 simple moving average (4 hours). There is a key bearish trend line forming with resistance near $130 on the 4-hour chart of the SOL/USD pair (data feed from Coinbase). The pair could recover, but the upsides might be limited above the $145 resistance. Solana price is trading in a bearish zone below $140 against the US Dollar, like...