Shiba Inu is facing significant bearish pressure as it tests the critical support level at $0.00002045. A failure to maintain this level could lead to further declines, while a successful rebound may spark a recovery towards higher resistance levels. The ongoing struggle between bulls and bears highlights the uncertainty in SHIB's price action.
Bitcoin is experiencing a three-day bearish trend, dropping closer to $92,000 amid concerns over the US DOJ's approval of a significant BTC sale and substantial outflows from spot Bitcoin ETFs. Despite this downturn, analysts suggest that the bullish outlook remains intact, as key market peak indicators have not yet been met, indicating potential for future rallies. Investors are advised to remain strategic and focus on the broader bullish trajectory rather than reacting to short-term volatility.
Senator Joni Ernst showcased a Dogecoin meme during a Senate address to advocate for government efficiency, prompting co-creator Billy Markus to humorously react on social media. Meanwhile, Dogecoin's value has seen significant volatility, dropping 7% over the week and 8% in the last 24 hours, raising concerns about its future amid speculation regarding Elon Musk's shifting interests towards the Pepe meme.
Donald Trump has launched a new NFT collection on the Bitcoin network, featuring 160 cards through the Ordinals protocol, with an additional 40 cards planned. Despite the NFT market's $8.8 billion sales in 2024, most collections struggle with low trading activity, and Trump's previous "America First" collection has seen minimal engagement. The new "Mugshot Edition" cards are available on the Magic Eden marketplace, with early signs indicating 29% have already been minted.
The crypto market is experiencing mixed sentiment, with Bitcoin at $93,775 and a neutral rating of 3, while Ethereum's bearish sentiment at 2 signals potential panic selling near the $3,000 support. Contrarian strategies are advised, particularly for Dogecoin, which has the lowest sentiment score of 1, indicating a possible recovery opportunity. Meanwhile, XRP and Solana show semi-bullish sentiments, suggesting caution due to potential corrections.
Toncoin (TON) experienced a remarkable 94% surge in whale transaction volume, totaling $8.21 billion, despite a broader market downturn. Currently trading at $5.12, TON's price has declined 3.25% in the last 24 hours, with analysts predicting potential highs of $7.33 by January 2025 and $26.60 by year-end. The ongoing market sell-off is largely driven by inflation concerns following the Federal Reserve's recent meeting, which hinted at slower interest rate cuts.
Dogecoin (DOGE) is poised for significant upside potential if the cryptocurrency market rebounds, according to Santiment. After a steep decline of over 30% from its recent high of $0.46, DOGE currently holds a low market sentiment score of one out of five, indicating a contrarian opportunity for investors as crowd expectations are at their lowest. Trading at $0.32, DOGE's recent performance suggests that a market turnaround could lead to a notable surge.
Nick Szabo, a prominent cypherpunk, has joined Samson Mow's Jan3 as chief scientist, focusing on Bitcoin's role in monetary policy and global adoption. He aims to establish BTC as a cornerstone of a new financial system, emphasizing decentralization and financial sovereignty.As nation-states like El Salvador and Bhutan accumulate Bitcoin as a reserve asset, the race for Bitcoin adoption intensifies. Mow predicts that accelerating adoption will follow Bitcoin surpassing the $100,000 mark, driven by rising government debt and declining trust in traditional institutions.
Bitcoin's price has dropped from nearly $107,000 to around $94,550, raising concerns about its ability to maintain momentum. Analysts highlight the $92,000 level as crucial support; a breach could lead to further declines toward $81,000. Despite bearish sentiments, some experts remain optimistic, citing significant institutional inflows and historical patterns suggesting a potential rally in January.
Navigating the cryptocurrency landscape requires a secure wallet, with options like PlusWallet, Crypto.com, Exodus, and Coinbase Wallet catering to diverse needs. PlusWallet offers passive income opportunities and a user-friendly design, while Crypto.com excels in decentralized finance features. For beginners, Coinbase Wallet provides a straightforward entry point, and Exodus supports seamless trading across numerous currencies with a sleek interface. Each wallet presents unique advantages, ensuring a suitable choice for every crypto enthusiast.
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