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Shiba Inu (SHIB) Prepares for Significant Bullish Surge: Here's the Latest🤯📈 Click To Get Free Reward Here 💰 Shiba Inu (SHIB), a prominent Ethereum (ETH)-based meme coin, is on the cusp of a major bullish breakout, aiming to retest its all-time high (ATH). With a market cap nearing $25 billion and a daily trading volume around $653 million, Shiba Inu continues to be a popular choice among meme coin enthusiasts. However, SHIB has faced resistance around $0.000029 against the US dollar over the past eight weeks. This resistance has led swing traders to pivot towards more volatile meme coins, including politically themed ones like MAGA. Shiba Inu's Consolidation Phase Before a Bullish Rally According to Glassnode's on-chain data, over 4 trillion SHIB tokens, valued at approximately $103 million, have been transferred to various cryptocurrency exchanges in the last two weeks. This move indicates a preparation for profit-taking. Despite these deposits, SHIB's price has struggled to gain upward momentum, reflecting a broader hesitation among buyers. In light of this, SHIB's price might revisit its recent low of around $0.000018 before potentially surging to $0.000080. This target aligns with the weekly 1.618 Fibonacci Extension, suggesting a significant potential upswing. Ecosystem Developments and Growth The Shiba Inu ecosystem has seen substantial growth, particularly with its layer two scaling solution, Shibarium. Shibarium's total value locked (TVL) stands at approximately $2.4 million, supported by key DeFi platforms like WoofSwap, ChewySwap, DogSwap, and MARSWAP. A recent update from the Shiba Inu development team highlighted a significant improvement in the Ethereum bridge for BONE tokens. The bridging time has been drastically reduced from seven days to just 45 minutes, showcasing the team's commitment to enhancing the platform's efficiency. #Megadrop #BinanceLaunchpool #altcoins
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US Treasury Department Warns About NFTs. 😱🇺🇲 Click To Get Free Reward Here 💰 The US Treasury Department has issued an important warning about the rapidly growing NFT market. The report, titled "Non-Fungible Token (NFT) Illicit Finance Risk Assessment," highlights various security vulnerabilities of NFTs and related platforms. NFTs can be used for illegal purposes such as money laundering, terrorist financing, and the financing of weapons proliferation. This potential makes NFTs attractive for illicit activities. NFTs are among the assets vulnerable to fraud and theft. This situation poses serious risks for both individual investors and platforms. Insufficient cybersecurity measures can leave NFT platforms vulnerable. These deficiencies can also bring about issues related to copyright and trademark protections. Many NFT firms and platforms lack adequate control mechanisms against risks such as money laundering and terrorist financing. This situation highlights the need for stricter supervision and regulations in the industry. The report emphasizes the need to increase awareness of current regulations and to implement more regulations. These steps are critical for making the NFT market safer. The private sector is urged to develop risk mitigation strategies to prevent illicit uses. This would be an important step in enhancing security in the sector. The US Treasury Department's assessment once again underscores its determination to analyze and prevent the illicit finance risks of new technologies. Although NFTs represent a rapidly growing market, such warnings highlight the importance of security and regulations in the industry. It is crucial for everyone involved in the NFT world or planning to enter this world to heed these warnings. Creating a secure market will be possible through the collective efforts of all stakeholders.
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