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Why The Shiba Inu Price Dropped 10% To $0.00001777 Despite Bitcoin Recovery Despite Bitcoin and the crypto market recovering, Shiba Inu prices have lagged. Several events have rocked the meme coin price, leading it to plummet 10% to test a new support level. Shiba Inu Falls After WazirX Hack WazirX, an Indian crypto exchange, was hacked for $235 million this week. Top cryptocurrencies like Polygon and Ethereum were taken in the incident. The highest-value Shiba Inu coins were seized. The unscrupulous actors took $96.7 million in Shiba Inu tokens, $52.6 million in Ethereum tokens, and $11 million in Polygon tokens. Since Shiba Inu has always been the most traded cryptocurrency on the platform, this was expected. The Shiba Inu price was also impacted by the WazirX exchange's SHIB token popularity. WazirX is a popular SHIB exchange, thus investors worried about what the unscrupulous actors would do after the breach. The crypto market fell after the breach but rebounded fast. The crypto market rebounded after Shiba Inu lost 10% of its value due to adverse pressure. The Shiba Inu price remains under pressure despite the crypto market's recovery from the WazirX attack. Because WazirX hackers were turning their exploit's gains into Ethereum. The majority of Shiba Inu tokens stolen in the breach have been sold and converted to Ethereum. Spot On Chain reports that the hacker(s) changed $90.2 million in SHIB to ETH, $10.2 million in MATIC, and $7.5 million in PEPE. Since $150 million has been transferred to ETH, the Shiba Inu price has been under pressure. The exploiter account has 59,087 ETH worth $201 million with lower sums in CHR, CELR, and OOKI. #SHIB $SHIB #BinanceTurns7 #BinanceTournament
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Whale Accumulation Points to Future Massive Dogecoin Price Rally In a day when the cryptocurrency market as a whole lost 1%, Dogecoin's price fell 2%, falling to $0.119. DOGE maintains a 12% weekly gain and a 22% two-week climb despite a 5% monthly loss. Nevertheless, new information reveals that whales have started buying meme tokens again, suggesting a significant comeback might be on the horizon in the next weeks. After a few days of loss, Dogecoin (DOGE) seems to be prepared to recover strongly, with indications pointing to an upcoming rise. Whale accumulation suggests a major rally is on the horizon. There has been a consistent resurgence of purchasing activity, as its RSI (purple) has surged from little under 30 yesterday to more over 45 today. This kind of shift might go either way, but the fact that Dogecoin's price has dropped over the last month suggests a rebound is on the horizon. This would be supported by recent transfers, since whales have started to accumulate DOGE in the last 24 hours. A possible explanation for whales' recent purchases of DOGE is that they anticipate a surge in the value of the meme coin. The currency has a lot of potential for further appreciation if the market experiences its next bull phase, since it is still 83.8% behind its all-time high of $0.7316, which was established in May 2021. With many anticipating a long-awaited rate decrease from the Federal Reserve in September, this may happen in the autumn. The meme token, which may be dependent on this happening if it want to really outperform the market, would get a tremendous lift if this incorporates DOGE. As things stand, Dogecoin may be worth $0.15 in a month and $0.2 in the fourth quarter. #DOGE #BinanceTournament $DOGE
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Predictions for the Price of XRP Show the Highest Activity Level Since March The popular cryptocurrency Ripple (XRP) coin has broken its losing run and is now trading at more than $0.5822. The general strength of the crypto industry, exemplified by the largest cryptocurrency by market capitalization, Bitcoin (BTC), is one of numerous variables that have contributed to this rise. In addition, the XRP Ledger saw a substantial spike in both new and current addresses, hitting levels not seen since March, which added fuel to the fire of XRP's price explosion. Speculation over potential rate cuts by the Federal Reserve and recent economic statistics have also played a role in driving up the price of XRP. An Increase in XRP Ledger Activity and Its Effect on the Stability of the XRP Price It is worth mentioning that there has been a significant increase in activity on the XRP Ledger, with a record number of addresses being added and removed reaching levels not seen since March. There was a record-breaking 1,721 new XRP wallets established on July 18, the largest number since March 30. The number of active addresses also reached 47,363, which is the highest level of involvement since March 9. This uptick shows how popular and useful the XRP Ledger is becoming. Consequently, XRP has regained its lost ground and is now trading at $0.5822, thanks to the rise in activity on the XRP Ledger. This indicates that more participation in the network may help keep prices stable. Regarding the US market, crypto sentiment has been favorably affected by recent economic statistics and anticipation regarding rate reduction from the Federal Reserve. The expectation of interest rate reductions beginning in September is based on a slowing in inflation. The present dropping trendline indicates that there is a resistance point around the $0.5835 level in the price dynamics of XRP over the previous trading sessions. If the price stays below this level, it might mean that the negative trend will continue. #XRP $XRP #ETH_ETFs_Approval_Predictions
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Bitcoin Price Hits $66,000 During Global IT Outage Bitcoin has rebounded from its recent drop to a six-month low of $53,500 on July 5th, regaining $66,000 and aiming for its March all-time high of $73,700. This revival comes as major airlines, medical institutions, enterprises, and police agencies worldwide deal with a large Microsoft cloud computing IT disruption. Bitcoin Price Unaffected By Global IT Outage CrowdStrike blamed a failed “routine software update” for the disruptions. CrowdStrike reassured the public that the event was neither a hack or security compromise. The corporation then swiftly released a software update that fixed certain PCs. Some systems needed manual reboots and patching, delaying operations. Microsoft declared the recovery of its 365 applications and services late Friday morning, however some users may still be affected. US Senator Cynthia Lummis noticed that bitcoin prices were untouched by the IT disruption. Senator Lummis, a pro-crypto and Bitcoin advocate, said on X (previously Twitter): “Do you know what form of currency hasn’t been affected by widespread cyber outages? Bitcoin. Numeric vires.” Speculation about Bitcoin being a US strategic reserve asset has grown. On July 27, former US President Donald Trump will come in Nashville and may proclaim the biggest cryptocurrency on the market as a key to the US economy, boosting Bitcoin prices. If Bitcoin closes over $67,500, the expert added, the signal may be negated. The cryptocurrency is now worth $66,666, up 5% in 24 hours and 16% in a week. Maintaining a close above Martinez's level is crucial to prevent a correction on its way to $70,000. Bitcoin's upward trajectory is solid, but bearish milestones around $67,600, $68,380, and $69,700 may test its price gain. Bitcoin may find support from its 200-day exponential moving average (EMA), now $62,600, a long-term trend indicator and strong support level. #BinanceTournament #BTC $BTC
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Terraform Labs Can Restart Shuttle Service And Burn 125 Million LUNA Tokens Terraform Labs (TFL)'s bankruptcy procedures have been advanced by a court ruling authorizing numerous essential activities. Terraform Labs, which was held accountable for scamming investors and inflicting $40 billion in damages with the collapse of its TerraUSD and LUNA coins in 2022, plans to handle important operations and settlements during bankruptcy. Shuttle Bridge Reopening, LUNA Token Burning The court judgment allows Terraform Labs to restore the Shuttle bridge, which transfers Terra assets to Ethereum (ETH), Binance Smart Chain (BSC), and Harmony for wrapped tokens, the firm revealed Friday. TFL wants to move all Shuttle Bridge wallet assets to more secure wallets and simplify wrapped asset redemption until 30 days after TFL's proposed Chapter 11 plan takes effect. TFL plans to permanently close the Shuttle bridge and destroy any remaining assets. Additionally, Terraform Labs stated it will undelegate and destroy 150 million Terra Community Grant LUNA tokens. TFL will also un-delegate the 125 million LUNA staked with the 49 Terra Delegation Committee validators in accordance with the bankruptcy court ruling and the SEC settlement. The corporation said that the 125 million LUNA utilized for delegations and 25 million for liquidity provisions would be incinerated once the LUNA is undelegated. Terraform labs to close After settling with the SEC, Terraform Labs has folded, prompting this bankruptcy court decision. A year of litigation culminated with a $4.47 billion settlement. However, Terraform's former CEO Do Kwon, wanted by the US and South Korea for capital markets and securities fraud, also faced legal issues. The Supreme Court of Montenegro overturned Do Kwon's extradition to South Korea in April, sending it to the Higher Court in Podgorica. The justice minister will decide whether the extradition's legal criteria have been satisfied when the Higher Court decides. #LUNA #LUNC #TerraLabs $LUNA
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