Shiba Inu (SHIB) is currently experiencing a bearish trend, according to recent price action and technical indicators. Fibonacci levels suggest that SHIB prices may drop towards the lows observed in late February.
Despite a 38% bounce from these lows over the past two days, SHIB has struggled to break through the former support level of $0.0000178, which now serves as resistance. This resistance may lead to further price declines.
Additionally, although SHIB appears undervalued in the short term and has seen a recent price bounce, network growth has slowed. The key question is whether the bulls can drive prices higher in the near future.
Shiba Inus Bearish Price Action and Technical Indicators
The 1-day chart for Shiba Inu (SHIB) shows a firmly bearish trend. Following a breakdown from its trading range, SHIB has been consistently forming lower highs and lower lows. The Relative Strength Index (RSI) remains below the neutral 50 level, reinforcing the downtrend.

Source: SHIB/USDT on TradingView
The Directional Movement Index (DMI) indicates that the -DI and ADX have been above 20 since June 14th, signaling a strong downtrend. This trend has continued without significant changes.
Additionally, the 78.6% Fibonacci retracement level has been broken and is now acting as support. This suggests that a further downward movement to the 100% level, or potentially beyond, is likely for the meme coin.
Shiba Inu’s Distribution Trends and Selling Pressure
In the final week of May, Shiba Inu’s mean coin age began to trend downward, indicating increased distribution. This metric has yet to show an uptrend, reflecting ongoing steady selling and minimal accumulation across the network.

Source: Santiment
On July 6th, a spike in dormant circulation occurred as prices rebounded, which might signal upcoming selling pressure. Meanwhile, the number of daily active addresses has remained steady compared to the previous month.

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

#SHIB #ShibaInu #ShibArmy #MtGox #PolyMarket $SHIB $DOGE $WIF

A well-known commodity trader believes that Bitcoin (BTC) is set to hit new highs in August 2025.
Peter Brandt, a famous commodity trader, recently announced that he has identified a short-term buying signal for Bitcoin.

Peter Brandt’s Bitcoin Buy Signal Amidst Largest Correction
Peter Brandt, a well-known commodity trader, recently pointed out a short-term buy signal for Bitcoin, which he refers to as a “foot shot” (Friday) pattern on his X social media account.

Source: X
Brandt also highlighted that the current market correction is the largest seen during the ongoing bullish cycle that began in December 2022.
Last Friday, Bitcoin’s price dropped to as low as $53,917, driven by the combined effects of substantial Mt. Gox repayments and significant government liquidations. This drop represents a 27% correction, notably larger than the 21.9% correction Bitcoin experienced in Q3 2023, when it fell from a local peak of $31,862 to $24,900.
Bitcoin’s Price Predictions: Brandt’s Long-Term Outlook
Adam Back, co-founder of Blockstream, recently downplayed the significance of Bitcoin’s recent price dip by comparing it to past bull cycles, which also experienced significant corrections.
Peter Brandt has previously predicted that Bitcoin could potentially reach as high as $150,000 during this bull cycle. This target aligns with forecasts from Fundstrat’s Tom Lee. However, Brandt believes that such a high price is more likely to be achieved by August 2025 rather than this year.

Currently, Bitcoin is trading at $57,478, with bulls having reclaimed some of the lost ground. Brandt’s outlook is based on historical patterns, suggesting that the market may peak in ugust 2025.

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

#SAB121 #PolyMarket #MtGox #Venezuela #CraigWright $BTC $ETH $SOL

Today, meme coins have seen a big rise, thanks to positive factors that have lifted the overall market mood. Major meme coins like DOGE, SHIB, and PEPE have all had notable gains. This strong performance shows an increase in market confidence and a rebound from recent lows.
Meme coins have bounced back today after a poor showing yesterday. Major coins like Dogecoin, Shiba Inu, Pepe Coin, and WIF are up over 10%, reflecting increased investor confidence. While the overall market recovery likely played a role, other factors may also be driving these gains. Here, we look at why meme coins are rallying.

Cash Injections Boost Crypto and Meme Coins
The cryptocurrency market is showing signs of optimism today, with analysts suggesting potential cash injections as a key driver. Speculation surrounds the collapsed exchange FTX, which may distribute $16 billion to former customers.
Experts believe a significant portion of this cash could flow back into crypto, fueling market growth. This speculation has boosted market optimism and driven meme coin prices higher today.
Reinvestment by these crypto-savvy individuals could create substantial buying pressure, further boosting prices. While the exact impact remains to be seen, even a partial return of these funds could significantly uplift the crypto market, especially meme coins.
Institutional Confidence and Anticipation Drive Crypto Market
The U.S. Spot Bitcoin ETF saw an inflow of $143.1 million on July 6, signaling a resurgence of institutional confidence in the crypto market. This substantial investment has given a robust boost to the broader crypto market, including meme coins.
Additionally, the anticipation surrounding the potential approval of an Ethereum ETF by the U.S. SEC in mid-July has further lifted market confidence. The market is optimistic about an altcoin rally, expecting renewed confidence in meme coins following the approval of the U.S. Spot Ethereum ETF.
VanEck’s Solana ETF Sparks Market Confidence
VanEck was the first firm in the U.S. to apply for a Solana ETF with the U.S. SEC. This move has boosted confidence in the crypto market, increasing the price of Solana and Solana-based meme coins.
Recently, VanEck shared a cryptic post on X, hinting that the firm has added Solana to its portfolio. The post read, “i got sol, but im not a soldier,” adding to the speculation and excitement surrounding Solana’s potential.
Meme Coins Market Cap Rises Despite Recent Crash
The overall meme coins market cap increased by nearly 13% today to $41.77 billion, with almost all major players in the segment rallying. Dogecoin’s price soared more than 10%, Shiba Inu’s price rose about 15%, Pepe Coin advanced around 11%, and dogwifhat jumped 17%.
The recent crypto market crash was primarily due to immense selling pressure from the German and U.S. governments. These governments dumped massive amounts of Bitcoin onto exchanges, sparking concerns in the crypto market and impacting meme coins’ performance.
Government Bitcoin Sales and Market Panic: Impact on Meme Coins
The panic selling in the market was further fueled by Mt. Gox’s repayment to creditors in BTC and BCH. However, analysts suggest that the government’s Bitcoin sales are likely to have very little impact on the crypto market.
Ki Yong Ju, founder of CryptoQuant, downplays fears of a government Bitcoin dump impacting the market. He notes that despite $224 billion flowing into Bitcoin since 2023, government-seized Bitcoin sales only amount to roughly $9 billion. This translates to a mere 4% of the total Bitcoin value realized since 2023.
Ju advises investors not to let FUD (fear, uncertainty, doubt) surrounding government selling influence their trading decisions. This perspective might have also contributed to gains in the meme coins sector today.

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

#Memecoins #Meme #MtGox #SAB121 #PolyMarket $BTC $USDC $XRP