Shiba Inu Nears Pivotal Moment With 416 Trillion SHIB Ahead.

Dog-themed cryptocurrency Shiba Inu (SHIB) has reached a pivotal point in its price action. The dog coin is now trading at a crucial range of 416 trillion SHIB, according to on-chain data. This critical level has become the center of attention, as market participants speculate on the meme token's price swings.

According to Into TheBlock data, 416.38 trillion SHIB were bought by 19,120 addresses in the range between $0.000017 and $0.000018 at an average price of $0.000018.

Shiba Inu's price currently hovers around the $0.000018 level, making it a make-or- break point for the token's short-term trajectory. At the time of writing, SHIB was up 1.49% in the last 24 hours to $0.00001814.

The 416.38 trillion SHIB acquired around this price level add to the weight of its significance, as it could either act as a strong support or a prelude to further declines.

Road ahead?

Shiba Inu's trading at the 416 trillion SHIB level might be a moment of reckoning for the token. The cryptocurrency community is on the edge of its seat, waiting to see whether this will be a turning point for Shiba Inu or just another bump in the road.

As Shiba Inu trades at this pivotal level, several potential scenarios could unfold. The token may bounce back from the 416 trillion SHIB level, leveraging it as a springboard for future gains.

On the other hand, a break below this key level might trigger a sell-off, leading to a further decline in price. In this scenario, Shiba Inu's next support lies at $0.000014 and $0.000017, where 91.92 trillion SHIB were bought by 60,560 addresses at an average price of $0.000016.

SHIB might also enter a period of consolidation, trading within a range while the market awaits the next major move. This scenario might bring relative stability in price as buyers and sellers find equilibrium.

Consolidation periods frequently precede large swings, so traders will be watching for breakout signals.

SHIB Rivals WIF, FLOKI, BONK Among Worst Performing Cryptos in Top 100.

Out of the 10 worst performing cryptocurrencies in the last week, three are meme coin majors. Dogwifhat (WIF), Floki (FLOKI) and Bonk (BONK) registered double-digit losses, while Shiba Inu (SHIB) and Dogecoin (DOGE) are also in the red.

Dogwifhat (WIF) loses 25% of its value in just one week.

Solana's (SOL) dominant meme coin, Dogwifhat (WIF), lost almost 25% of its price in the past seven days. After such a dropdown, WIF capitalization dropped below $1.8 billion, and the coin lost its place in the top 50 altcoins.

Floki (FLOKI) and Bonk (BONK), two other major meme coins with large communities, also found themselves on the list of the worst sufferers of the ongoing crypto dropdown.

FLOKI's price dipped by 16.8%, while coin capitalization lost support at $1.65 billion. Bonk's (BONK) market cap is extremely close to dipping below $1.4 billion.

The two largest meme cryptocurrencies, Dogecoin (DOGE) and Shiba Inu (SHIB), lost 8.7% and 12.8%, respectively. Dogecoin (DOGE) is one step from being replaced by Toncoin (TON) as the ninth largest crypto.

During the same period, Bitcoin (BTC) and Ethereum (ETH) only lost 3% and 1.6%, respectively, while XRP price managed to add 0.8%.

DADDY vs. MOTHER rivalry enters new phase as Tate- associated coin jumps by 40%.

However, some segments of meme coins are still rocketing. Star-themed meme cryptos associated with internet celebrities have recorded new gains.

Daddy Tate (DADDY), a small-cap meme coin on Solana (SOL) that is supported by infamous social media influencer Andrew Tate, the "King of Toxic Masculinity," jumped by 40% today in no time after a prolonged price dip.

Major trackers recall that Daddy Tate (DADDY) has no formal links to Tate or his official representatives. However, the former kickboxer used to promote it on X (formerly Twitter) as an alternative to Iggy Azalea's coin MOTHER.

Meanwhile, the "celeb coin" of the major Vitalik Buterin critic is down by 42% today.

Investors Withdraw $105.96 Million from Spot Bitcoin ETFS.

Spot Bitcoin ETFs saw withdrawals amounting to $105.96 million as of yesterday. These withdrawals continued the trend observed in previous days. One of the main reasons for the withdrawals is the volatile movements in Bitcoin's price. Since Bitcoin fell below $63,500 yesterday, the market considered the withdrawals natural. What are the details of these withdrawals?

Yesterday's Data on Spot Bitcoin ETFs.

Yesterday, three Bitcoin ETFs experienced withdrawals while only one ETF saw inflows. Other ETFs recorded zero activity. The largest withdrawal was $45 million from Fidelity's spot Bitcoin ETF. The total asset value of the Bitcoin ETF named FBTC is currently at $10.72 billion.

The second largest withdrawal was $34 million from Grayscale. The total asset value of GBTC is at $17.84 billion. The third Bitcoin ETF that experienced withdrawals was ArkInvest with $29 million. The total asset value of ArkInvest is at $2.92 billion.

The only spot Bitcoin ETF that saw inflows was Franklin's Bitcoin ETF with $2 million. The remaining Bitcoin ETFs recorded zero activity.

Where Could Bitcoin's Price Be Heading?

As we experience the hot days of summer, expectations for Bitcoin are starting to take shape. At this stage, BTC continues its range-bound movement. Yesterday evening, Bitcoin fell below $63,500, and at the time of writing, it was trading above $64,000.

For BTC to see a price increase, levels around $70,000 need to be reached. This situation will also resonate in the altcoin sector. Especially for altcoins that have experienced sharp declines recently, everyone is expecting a recovery. However, Bitcoin has not yet allowed for this recovery. This situation deeply affects investor psychology, leaving many in a state of weariness.

Massive 51 Million XRP Stash Shifted From Binance as Whales Intensify Moves.

In a significant development within the cryptocurrency market, a massive 51 million XRP stash was recently shifted from the Binance exchange. This large transaction underscores the ongoing activities of crypto whales, entities or individuals who hold substantial amounts of a specific cryptocurrency.

The 51 million XRP transfer, valued at approximately $25 million based on current market prices, was detected by blockchain tracking services. The single transaction saw XRP move from Binance to an unknown wallet.

According to WhaleAlert data, 51,627,816 XRP worth $25,261,186 were transferred from Binance to an unknown wallet. This move is part of a broader pattern of whale activity that has been stirring the XRP market.

Whale Alert reports another major XRP transaction, which saw a 26 million XRP stash shifted from Binance: "26,247,981 XRP worth $12,821,456 was transferred from Binance to unknown wallet."

Whales moving large amounts of XRP off of exchanges like Binance could indicate a range of sentiment. They might be preparing to hold their assets in cold storage for potential long-term holding, suggesting bullish sentiment. Conversely, it might suggest neutral sentiment as the move might be a mere funds reshuffling.

At the time of writing, XRP was down 0.44% in the last 24 hours, to $0.48. For several days, XRP has traded between the 50-day SMA at $0.51 and the key support at $0.46.

The crucial level to watch for on the downside is $0.46. If this level gives way, XRP might fall to the critical level of $0.41. Bulls are predicted to buy in the range of $0.46 to $0.41.

Bulls are attempting to push the price above the $0.50 mark, and if they succeed, the probability of a break above the 50- day SMA improves. XRP might then rise to $0.57.

Chainlink (LINK) Skyrockets 1,453% in
Whale Activity, Massive Move Coming?

Chainlink (LINK), the decentralized oracle network, has recently seen a staggering 1,453% surge in large transaction volume, signaling significant whale activity. This increase in activity raises questions about what might be driving these movements and whether a massive price move is on the horizon.

According to Into TheBlock data, Chainlink is recording a 1,453.68% surge in large transaction volume, totaling $885.23 million, or 62.3 million LINK in the last 24 hours.

Large transaction volumes typically represent the movements of "whales," or large holders with substantial amounts of cryptocurrency. The recent 1,453% spike in LINK's large transaction volume might suggest that these large players may be making significant moves.

The reasons for the large transaction volume rise might be varied, however, one could include market speculation, as whales might be positioning themselves for a significant price move.

The substantial increase in transaction volume could be a precursor to a coordinated buying or selling strategy aimed at capitalizing on upcoming market movements.

18.77 million LINK sent to exchanges.

Crypto analyst Ali noted that in the last 24 hours, 18.77 million LINK tokens valued at approximately $256.20 million were sent to cryptocurrency exchanges.

Blockchain data tracker WhaleAlert reports four transactions totaling over 18 million LINK being sent to the Binance crypto exchange from an unknown wallet.

The four transactions are as follows: two transactions carrying 3,499,999 LINK worth $49,267,056 being sent to Binance from an unknown wallet. In two separation transactions, 6,999,999 LINK worth 98,502,247 and 4,749,999 LINK worth $66,325,386 were transferred from an unknown wallet to Binance.

At the time of writing, Chainlink's LINK was down 5.48% in the last 24 hours to $13.63.

Cardano (ADA) Welcomes Major Chain Update: Details.

As one of the major avenues to keep up in the layer-1 blockchain scene, Cardano (ADA) has welcomed a new upgrade. According to the GitHub repo, the new update is dubbed "docker-cardano-cli v8.24.0.0-1" and was introduced by Blinken Labs.

Cardano maintaining developer dominance.

Cardano has always gained recognition for its position as the most developed blockchain network by GitHub Commits. This latest upgrade notably adds to this recognition. The developer Blinken Labs helps enhance Cardano Stake Pool operations with its developmental efforts.

While not much documentation was published for this latest update, judging by previous updates from Blinken Labs, this update is targeting boosting the staking accessibilities for users.

Over the past year, Cardano has dived into various uncharted territories to enhance its overall ecosystem. One of the most important innovations is the Midnight Protocol, which aims to drive the concept of privacy in a futuristic manner.

Besides Midnight protocol, Cardano has also been driven more to community trends surrounding the meme coin. Over the past week, Cardano Founder Charles Hoskinson posted a picture of his pig, named Nike. The community transformed this animal into a meme coin, whose valuation hit millions of dollars.
Hoskinson expressed shock at the cultural shift.

Price remains unmoved.

Amid this ecosystem boost, ADA, the native coin of the Cardano ecosystem, has not recorded a major uptick to reflect these massive fundamentals.

At the time of writing, Cardano is down by 1.53% in 24 hours to $0.377. Though it has managed to maintain its stance as one of the top 10 cryptocurrencies, Cardano's volume is down by 17.44% in 24 hours to $232,195,791.

Cardano is a coin with a high whale affinity, as showcased over the past week. The core development fundamentals, ecosystem hype and whale embrace might help it refuel its growth in the mid-to-long term.

Solana (SOL) Welcomes Most Crucial Upgrade in Years.

High-performance L1 blockchain Solana (SOL) activates ZK Compression technology in mainnet. This development is expected to change the way Solana's (SOL) dApps scale and reduce computational prices dramatically, a seasoned developer says.

Solana (SOL) implements ZK Compression mechanism.

Solana (SOL) blockchain adopts ZK Compression, a crucial upgrade for its scaling and peformance metrics. Mert Mumtaz, cofounder and CEO of Helius, a Solana infrastructure application, expects the advancement to bring "10,000x scale improvements" to Solana's L1 design.

In terms of cost-efficiency, ZK Compression results in over 5,200x cheaper transactions, as revealed in calculations by Mumtaz.

Technically, the upgrade compresses the size of Solana's blockchain state. As state is the most resource-expensive element of
the Solana (SOL) blockchain, the activation
of the compression mechanism brings
radical reduction to hardware costs and
overall blockchain performance.

Earlier, Solana (SOL) founder Anatoly Yakovenko introduced the upgrade as "the most egalitarian thing he had ever seen." In his view, ZK Compression is expected to "reshape the fabric of society."

Also, new releases include compressed account indexing via photon, an open- source indexer that can be run locally.

Pantera Capital names Solana (SOL) the "Mac OS of blockchains".

Despite being a radical reconsideration of Solana's (SOL) design, post-ZK Compression, APIs will be nearly identical to existing ones, Mumtaz concluded.

Earlier this week, Pantera Capital, a havyweight VC in the blockchain segment, released an uber-bullish report on Solana (SOL). Analysts compared Solana's (SOL) accomplishments with those of Apple:

Solana has gained significant share over the past year. The shift is reminiscent of Microsoft's dominance of the early desktop computer market, until Apple broke through with its vertically integrated approach. Solana is now a major contender for the future of blockchain development.

Avalanche (AVAX) Drops 8%, Real Reason Uncovered.

Avalanche is on track to reach its crucial
support level of $23.34 if its market
performance continues on a decline, as it has over the last 24 hours. According to Wu Blockchain, an investigation by ZachXBT has revealed what might be fueling the rapid drop in the price of Avalanche.

Major transfers impacting Avalanche.

At the time of writing, Avalanche is changing hands for $25.34, down by 8.34% in the past 24 hours.

The sharp decline has been attributed to several factors. Primarily, the reason for this drop appears to be the actions of an entity ("0x32...4f30") that started transferring 1.96 million AVAX to exchanges like Coinbase, Binance and Gate.

The value of the transferred asset comes in at $54.2 million based on the current market price. An investigation revealed that the entity utilized cross-chain bridges such as THORChain for the transfers. The movement has further aggravated bearish market sentiment surrounding AVAX.

This transfer has triggered a notable decline toward the critical support level of $23.34, as it is barely $2 away from breaching it. Analysts believe that if that happens, there will be more downsides for Avalanche to worry about.

Historical performance and Avalanche's recent trends.

This continued bearish movement is upsetting to Avalanche given that it was one of the top gainers in the first quarter of the year. Notably, the blockchain platform is undergoing a steady decline, as data reveal that from May 23, when the price was $38.31, it has not been able to flip its bullish trend.

Interestingly, per the May market Rankings, Avalanche nudged Shiba Inu, the dog- themed coin, out of the top 10 as it climbed up by more than 18% in value. Market experts say the current decline in AVAX value attests to the volatility of the market, in this case, the massive transfer initiated by the entity (0×32...4f30).

Investors are, however, advised to observe the key support level and make decisions based on price movement around it.

Spot Ethereum ETF Updated Filings Submitted by Applicants: Hot Details.

Popular Chinese crypto journalist and blogger Colin Wu has reported that senior ETF analyst of Bloomberg Eric Balchunas revealed documents showing that the spot Ethereum ETF applicants have updated their S-1 filings.

Those applicants include BlackRock, Fidelity, Grayscale and VanEck giants.

Ethereum ETF filings updated.

According to the aforementioned documentation submitted by the companies, Franklin has set its Ethereum ETF fees at 0.19%, and as for VanEck, this figure is set at 0.2%, as was announced on Friday.

Besides, BlackRock, the world's largest money manager, made a disclosure of a $10 million seed investment as a major undisclosed investor acquired $10 million worth of its future ETF (ETHA) shares.

Eric Balchunas believes that the likely date of the spot Ethereum ETF approval is July 2.

Earlier this year, in January, the same companies had their spot Bitcoin ETF filings finally approved by the Securities and Exchange Commission (SEC). Once trading started, the ETFs began accumulating large amounts of BTC on a daily basis.

BTC ETF outflows rise to major negative record.

Analytics X account @spotonchain spread the word about yet another day of outflows faced by spot Bitcoin ETFs. According to a recent tweet by this entity, these ETFs have been seeing negative inflows for the entire past trading week.

Overall, on Friday, the exchange-traded funds that track the spot Bitcoin price saw $545 million withdrawn from them. Grayscale faced a $34.2 million withdrawal, and BlackRock's IBIT ETF just had a zero netflow on Friday.

Still, @lookochain reports that BlackRock
did have an inflow of 23 BTC, and Invesco Galaxy Bitcoin ETF acquired 229 BTC. According to the same source, Fidelity and Bitwise saw outflows of 787 BTC and 485 BTC, respectively.

Bitcoin Warning: Key Indicator Predicts BTC
Downturn.

Bitcoin, the first and largest cryptocurrency has quadrupled in price since the beginning of 2023, reaching a new high of $73,798 in March, boosted by demand for U.S. exchange-traded funds.

However, recent observations by crypto analyst Ali might suggest a concerning trend: a significant downturn in exchange- related on-chain activity for Bitcoin.

On-chain activity refers to the transactions and interactions recorded directly on the blockchain. This metric might be crucial in understanding the behavior and sentiment of market participants. Higher on-chain activity often correlates with increased investor interest and higher trading volumes, while a decline can suggest the opposite.

As analyst Ali highlighted, Bitcoin's downturn in exchange-related on-chain activity might signal a period of decreased investor interest and reduced network usage.

As fewer transactions occur on exchanges, it suggests that traders and investors are either holding their assets in cold storage, reducing their trading activity or reflecting cooling interest among investors.

The decline in on-chain activity might not necessarily be a negative indicator of Bitcoin's long-term prospects. It might simply reflect a period of consolidation or that of investors waiting on the sidelines amid lackluster activity on the market in anticipation of a big move. However, it does suggest that investors and traders are currently less engaged with Bitcoin than in previous periods of high activity.

Bitcoin fell to a more than one-month low, as the lack of new market drivers slowed this year's record-breaking surge.

Bitcoin has fallen roughly 14% since reaching an all-time high of nearly $74,000 in March on rising optimism about the approval of U.S. exchange-traded funds that directly hold the largest cryptocurrency. Adding to the melancholy are shifting expectations for U.S. interest rate reduction, which have reduced demand for the most risky assets.

Bitcoin plummeted to a low of $63,300, its lowest level since May 15.

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SHIB Price Prediction for June 21.

SHIB/USD.

The rate of SHIB has dropped by 0.64% over the last 24 hours.

On the hourly chart, the price of SHIB is on its way to the local resistance level of $0.00001826. If the upward move continues and the daily bar closes near the upper line, one can expect a breakout to the $0.000019 zone.

On the daily time frame, none of the sides is dominating. Such a statement is also confirmed by the falling volume.

In this case, ongoing sideways trading in the zone of $0.00001750-$0.000019 is the more likely scenario until the end of the week.

From the midterm point of view, the fall of SHIB is continuing after the previous candle's closure. If the situation does not change by the end of the week, there is a chance to see a test of the support of $0.00001519 soon.

SHIB is trading at $0.00001777 at press time.

Does Solana's Decline Mean It's 'Rugging In Slow Motion'?

Solana's continuous decline prompted one prominent crypto trader to express serious doubts about its future.

Bitcoin's What Happened: Prominent trader DonAlt has voiced his concern over the persistent decline in the value of Solana, despite stability. He noted that the cryptocurrency has been "rugging in slow motion," with "day after day after day red." He further stated that SOL is already down 37% against USD from its peak. This, he found particularly striking given that Bitcoin has been stable.

On the contrary, notable crypto influencer Altcoin Hunter expressed bullish sentiments on Solana, dismissing rumors of it being a "slow rug" and considering going long above $125. He dismissed the negative chatter around the cryptocurrency, referring to it as 'FUD' (Fear, Uncertainty, and Doubt).

The influencer highlighted the cryptocurrency's resilience, noting its ability to maintain support at $125. He pointed out that this was the fifth time in three days that SOL had bounced back, a trend he deems bullish.

Another prominent trader expects a reversal for Solana, although he did not specify when.

Why It Matters: Earlier on Friday, investment fund manager 3iQ Corp announced plans to launch North America's first Solana-based exchange-traded product (ETP) in Canada. This same fund manager was the pioneer in launching Bitcoin and Ethereum spot ETFs in Canada, ahead of the U.S.-launched futures ETFs for the two assets.

What's Next: The influence of Bitcoin as an institutional asset class is expected to be thoroughly explored at Benzinga's upcoming Future of Digital Assets event on Nov. 19.

Cardano (ADA) Price Prediction for June 21.

ADA/USD.

The rate of Cardano (ADA) has dropped by 1.29% over the last 24 hours.

On the hourly chart, one should pay attention to the local support level of $0.3796. If the daily bar closes far from it and closer to the resistance, there is a chance to see a test of the $0.39 zone tomorrow.

On the bigger time frame, traders should focus on the candle's closure in terms of the nearest support level of $0.3772.

If sellers' pressure continues, there is a possibility of seeing a breakout, followed by a further drop to $0.3575.

From the midterm point of view, the situation remains bearish. If the bar closes with no long wick and below $0.3793, the energy might be enough for a move to the $0.35 range.

ADA is trading at $0.3794 at press time.

USDT on Tron Network Surpasses Visa's Daily
Volume: Details.

In a significant milestone for the cryptocurrency market, Tether (USDT) on the Tron Network has surpassed Visa in 24-hour trading volume.

According to data from Lookonchain, the
trading volume of USDT on the Tron
Network reached an impressive $53 billion
within a single day, exceeding Visa's
average daily trading volume of $42 billion.

Visa, the global payments giant, recorded a trading volume of $3.78 trillion in the first quarter of 2024. When broken down, this figure translates to an average daily trading volume of approximately $42 billion.

This milestone is particularly noteworthy given the established dominance of Visa in the payments industry. It underscores the rapid pace at which digital currencies are being adopted and the growing confidence that users place in them for conducting large-scale transactions.

The significant trading volume of Tether (USDT) on the TRON network indicates a shift in how value is being transferred globally. This trend is likely to continue as more users and institutions recognize the benefits of digital currencies.

As the cryptocurrency market continues to mature, such milestones as highlighted above are likely to become more frequent, indicating the wider acceptance and integration of digital currencies into everyday commerce.

In Tether-related news, Tether Holdings, the issuer of USDT, the largest stablecoin on the cryptocurrency market, has created a new synthetic dollar that is backed by gold, according to a corporate announcement on Monday.

Binance, the world's largest cryptocurrency by market cap, has also announced today that it has completed the integration of Tether (USDT) on the Toncoin Network.

Dogwifhat (WIF) Skyrockets 20% in Volume Amid Price Slump.

Dogwifhat (WIF) is showing no signs of gains in terms of price. However, the good news for its holders is that other indicators are giving bullish signals. Per CoinGlass, the trading volume of WIF has skyrocketed 20% over the past day. With this surge, its volume is standing at a whopping $879.75 million.

If we break it down, around $500.89 million of the total volume came from crypto exchange Binance and $166.40 million from Bybit, among others. This shows us that WIF has been seeing rising trading activity across multiple platforms.

But the most important thing to note here is that traders are showing interest in this meme coin even though its price is currently in a bullish phase. Traders are optimistic about Dogwifhat because they may be trying to buy the lows.

Moreover, the coin has a history of huge rallies, so these traders may be anticipating another price rally from WIF. Whatever the reason is, the rising trading activity is a positive sign for WIF, which may help it to overcome this bearish phase.

WIF price outlook.

As of this publication, the Dogwifhat price has plummeted 13.16% to $1.84. Additionally, the price has fallen 34.40% over the past month. This shows how bears have gained control over the sentiment, as seen in the broader crypto market.

However, there is hope left for the Solana- based meme coin. Per TradingView, the current RSI of WIF is 30.39. An RSI below 40 indicates that the coin is in an oversold market condition. Hence, Dogwifhat's current RSI is showing that there is a potential for a price gain in the short term.

Considering the surge in volume and the current RSI level, one can assume that the outlook for WIF is not bleak. Meme coins like WIF have always shown their potential with massive price rallies. While volatility is expected, WIF still has the potential to rebound from its current levels.

Here's Who's Selling Bitcoin (BTC) Right Now, Pushing Price Down.

It seems that Bitcoin's selling pressure is through the roof again as the first cryptocurrency dropped below $65,000, with more than $140 million liquidated. However, the main source of selling pressure might not have been so obvious.

Recent price action indicates that Bitcoin is having difficulty maintaining its hold above important support levels. With a break below the 50 EMA and an approach to the 100 EMA, the daily chart shows an extreme decline. There is also growing bearish momentum indicated by the RSI.

The fact that Coinbase is the source of the selling pressure is crucial. The Coinbase Premium Gap, a measure that contrasts the price of Bitcoin on Coinbase Pro with those on other exchanges, is significantly negative, suggesting that Coinbase is currently executing orders of institutional investors who are willing to sell their holdings.

The lengthy period of miner capitulation is also clarified by Willy Woo's analysis. As indicated by the Bitcoin Hash Ribbons, which show periods of stress and recovery for miners, we are currently experiencing a record-breaking amount of miner capitulation. Woo says that when the hash rate starts to rise again and weak miners leave, Bitcoin usually bounces back.

In a similar vein, the volume of big USD transactions has drastically decreased, suggesting that major players are scaling back or selling their holdings. The Bulls and Bears indicator which indicates a preponderance of bearish addresses highlights the bearish sentiment even more. It appears that more investors are selling rather than buying as the gap between bullish and bearish addresses has widened.

The combination of these data suggests that there are multiple sources of selling pressure. With enormous amounts of Bitcoin being sold on the platform, Coinbase seems to be a major driver. Furthermore, as miners sell off their holdings to pay for operating expenses, the extended miner capitulation phase intensifies the selling pressure.

SHIB on Verge of Breakout? Here's What Shiba Inu Insider Says.

In a recent tweet, the Shiba Inu team's marketing lead, Lucie, addressed the SHIB army as she was pondering whether the SHIB meme coin is about to enter the "optimism,” stage, which promises a major price surge.

The next stages after "optimism" are "belief,” "thrill" and "euphoria," with price jumps even higher.

SHIB executive hints at possible surge soon.

Lucie published a screenshot of the "Wall Street Cheat Sheet," which shows all the psychological stages of a market cycle reached by assets, with all the ups and downs - disbelief, hope, optimism, belief, complacency, anxiety, denial and several others.

Lucie believes that Shiba Inu might be about to enter the "optimism" stage, which is characterized by a notable price increase. This step on the diagram is described as, "This rally is real."

"Optimism" is followed by "belief" ("Time to get fully invested," the diagram says), then comes "thrill” (“I will buy more on margin. Gotta tell everyone to buy!"), and "euphoria" (accompanied by slogans: "I'm a genius! We're all going to be rich!”).

SHIB price action.

The reaction of the SHIB army to that statement was mixed, with many optimistically agreeing with Lucie and expecting a price increase soon. However, many SHIB fans in the comments also expressed their doubt and uncertainty about Lucie's assumptions.

After the massive 11% decline that SHIB saw on Tuesday (with a large red hourly candle), the second largest meme cryptocurrency has been trading sideways, moving in a range between the $0.00001772 support and the $0.00001891 resistance, striving to break through the latter.

SHIB burns soar 530%.

Meanwhile, a major Shiba Inu metric, the burn rate, has demonstrated an impressive 530% increase over the past 24 hours. Thus, a total of 37,534,163 meme coins were transferred to unspendable blockchain addresses.

Out of 13 transactions, six were made from the same -d3e43 wallet, as it burned 15.8 million SHIB. The largest transaction, made by another wallet, carried 10,027,548 SHIB.

CYBRO Presale Rapidly Approaching $1 Million with 25M Tokens Already Sold Out.

CYBRO is a one-of-a-kind marketplace that amplifies the native yield potential of the Blast blockchain. CYBRO offers early investors to enter the project on favorable terms by joining the unfolding CYBRO token presale, which is set to hit $1 million as excitement builds within the crypto community.

At this stage, CYBRO tokens are available at discounts of over 2 times off their future market price, generating a generous ROI of 140%. Additionally, those investing a minimum of $1,000 in CYBRO during the presale will unlock weekly ETH rewards, available for withdrawal after the TGE. Moreover, CYBRO's referral program, active until July 15th, offers up to 12% extra earnings from token purchases across three referral levels, with weekly USDT payouts and double CYBRO Points for referees' first deposits.

The CYBRO token will unlock cashback in CYBRO, discounted fees for trading and lending operations, staking rewards, an exclusive Airdrop, and the Insurance Program. This solid utility will set a strong base for CYBRO to rise in value post-TGE in Q3 2024.

With CYBRO, you can grow your crypto by investing in various vaults on Blast, the only Layer 2 blockchain to offer default yield for ETH and stablecoins staking. CYBRO's ultimate goal is to provide users with the highest returns possible for each strategy, while ensuring a simple and transparent interface.

Bitcoin ETF Capital Drain Deepens With $139 Million Outflow.

The spot Bitcoin ETF ecosystem has continued to lose capital in what is a sustained bearish trend for the asset class. It remains unclear why Wall Street has continued to capitulate on its once aggressive Bitcoin ETF embrace, but the current disposition has triggered a sustained drawdown in the price of Bitcoin.

Per data from SoSoValue, a total of $139.98 million left spot Bitcoin ETFs on June 20. Grayscale Investments' GBTC turned out to be the biggest loser, with a total outflow of $53 million. Fidelity Investments came second, with investors pulling out $51 million.

Bitwise (BITB) also saw a total outflow of $32 million, while VanEck recorded $4 million in capital drain relative to its size. Invesco Galaxy Digital's offering saw a total of $2 million.

Not all the spot Bitcoin ETF products recorded outflows as BlackRock's iShares Bitcoin Trust (IBIT) broke the trend. The product recorded a daily volume of $565 million, while the net inflow came in at $1 million. There is a very thin line between Bitcoin ETF inflows and outflows, and from current market data, the products in question all showcased some form of an uptick in trading volume.

Over the past week, spot Bitcoin ETF products have recorded a net outflow of $900 million as June 20 marked the fifth straight day of outflows. This marks the product's worst performance since mid- April, shortly after the short inflow stint mid-month.

The impact of these bearish Bitcoin ETF trends has also trickled down to the lackluster performance of BTC. Over the past 24 hours, the price of the coin has dropped by 2.8%, and it is trading at $63,784.68. Bitcoin's trading volume is up 33.93% to $25,990,936,338, shining a light of confidence.

With this rebooted sentiment and hopes for a rebound on the spot Bitcoin ETF market, the price of the coin might reroute its trend in the short term.