While the short-term trend is slightly bearish, the low volume suggests a potential for a rebound. Traders should closely monitor support and resistance levels to gauge the direction of future price movements.
Disclaimer: This analysis is for informational purposes only and does not constitute financial advice. Always conduct your own research before making any trading decisions.
#BTC☀ #Market_Update

Sep 27, 2024

6thTrade

Shiba Inu (SHIB), the popular dog-themed cryptocurrency, has seen a massive 924% surge in large holder inflows, which is a strong indicator of whale activity. This dramatic increase in whale-owned addresses has caught the market’s attention as SHIB breaks through key price levels. $SHIB

Large Holder Inflows suggest significant buying activity, as many whales tend to purchase SHIB on centralized exchanges and then transfer their holdings to cold storage wallets. Data from IntoTheBlock reveals that between September 25 and 26, Shiba Inu's large holder inflows skyrocketed from 603.55 billion SHIB to an incredible 3.79 trillion SHIB, marking a 924.75% jump.
Following a period of price consolidation, SHIB's value has surged, breaking critical resistance levels and signaling a bullish trend. This price breakout has been supported by rising buying pressure from both retail and institutional investors, driven in large part by increased whale activity. Over the past 24 hours alone, Shiba Inu has seen a 372.6% increase in large transaction volume, totaling $169.27 million (or 9.07 trillion SHIB), according to IntoTheBlock.
Shiba Inu Soars Amid Whale Surge
In yesterday’s trading session, Shiba Inu experienced a significant price increase, which continued into today, with SHIB reaching a high of $0.00001976. At the time of writing, SHIB is up 17% in the last 24 hours, trading at $0.00001974. According to Santiment data, this rally has pushed Shiba Inu to a 10-week price high, fueled by major spikes in trading volume, token circulation, and whale transactions.
In the past nine days alone, SHIB has surged 43%, with its on-chain activity far outpacing other altcoins and meme coins. Whale transactions and social dominance have also reached 10-week highs, indicating that FOMO (fear of missing out) is driving much of the current hype around SHIB.
Despite the excitement, Santiment advises traders to remain cautious. To surpass its year-high of $0.000043, which was last reached in February, the current bullish sentiment may need to cool off before SHIB can continue its upward trend.

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Disclaimer: The content of this article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments are highly volatile and may lead to substantial financial loss. Always perform your own research and consult a qualified financial advisor before making any investment decisions. The opinions expressed are solely those of the author and do not represent the views of the publisher or its affiliates. Investing in cryptocurrencies involves inherent risks, and past performance is not a reliable indicator of future results. Please exercise caution.

Sep 27, 2024

6thTrade

By October 7, the SEC’s opportunity to appeal its lawsuit against Ripple Labs will officially close, sparking heated discussions among legal experts, including John Deaton, on what the regulator might do next.
Is an SEC Appeal a Good Idea?
John Deaton, a legal representative for XRP holders with intimate knowledge of the case, believes appealing the secondary sales ruling would be futile. Deaton argues that Judge Analisa Torres made a well-calculated decision in ruling that XRP sold on secondary exchanges does not qualify as an unregistered security. He explained that if the SEC challenges this part of the ruling, the appellate court is unlikely to find that Judge Torres misapplied the Howey Test’s third prong.
Deaton pointed out that Judge Torres didn’t depend on expert testimony focusing on XRP holders, which weakens the SEC’s ability to argue that a "common enterprise" existed—a key element in proving a security under the Howey Test. As someone who has been deeply involved in the Ripple case for over two and a half years, Deaton is confident that even if the case were sent back to Judge Torres, she would still likely rule in Ripple’s favor.
Ripple Case and the SEC’s Softer Stance
While the U.S. still lacks clear regulatory guidelines for the crypto market, there have been some shifts in how the SEC approaches the space. Recently, the SEC has stopped using the term "crypto asset securities" in legal filings, signaling a possible softening of its position.
The Ripple case itself resulted in a split decision. Ripple was fined $125 million for selling XRP to institutional investors, but the ruling in favor of secondary market sales was a major win for the company. With an election year approaching, the SEC may be reluctant to appeal and risk casting the current administration in a negative light.
XRP’s Market Performance and Future Outlook
Meanwhile, the broader cryptocurrency market has seen a revival since the U.S. Federal Reserve cut interest rates by 50 basis points in late 2024. Bitcoin (BTC), Ethereum (ETH), and many altcoins have posted strong gains. However, Ripple’s native token, XRP, has lagged behind, trading mostly flat on both a weekly and monthly basis. XRP has only risen 1.6% since last month, while BTC, Binance Coin (BNB), and Dogecoin (DOGE) have seen increases of 9%, 11%, and over 21%, respectively.
Despite this underperformance, October is often seen as a bullish month for the crypto market. Ryan Lee, Chief Analyst at Bitget Research, sees a bullish scenario for XRP, predicting the token could surge by 30% to reach $0.75. Lee attributes this optimism to the overall positive market sentiment and the potential for favorable legal developments in Ripple’s ongoing battle with the SEC.
From a technical perspective, Lee noted that XRP has already broken through a key trendline, often viewed as a bullish signal. The token is trading above its 50-day, 100-day, and 200-day moving averages, and other indicators like the MACD and RSI suggest a bright October for XRP holders.
The Downside Risks
While the forecast for XRP looks promising, there are still risks. Lee warned that if the SEC does appeal, or if there are negative developments in the legal case, XRP could fall to its $0.45 support level. He also cautioned that too many analysts predicting “parabolic growth” could lead to the opposite effect, with inflated expectations driving a potential sell-off.
To avoid being caught in the hype, Lee advises investors to be cautious. Instead of making emotional decisions, he suggests setting stop-losses and making incremental purchases to better navigate the unpredictable market.
Conclusion
The Ripple v. SEC case continues to hold significant weight for both XRP’s future and the broader cryptocurrency industry. As the appeal window closes, Ripple appears to be in a strong position, but investors should remain aware of the potential risks and avoid jumping on extreme predictions without proper risk management.

#6thTrade #MarketSentimentToday #Market_Update

Disclaimer: The content of this article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments are highly volatile and may lead to substantial financial loss. Always perform your own research and consult a qualified financial advisor before making any investment decisions. The opinions expressed are solely those of the author and do not represent the views of the publisher or its affiliates. Investing in cryptocurrencies involves inherent risks, and past performance is not a reliable indicator of future results. Please exercise caution.

Sep 27, 2024

6Thtrade

In just a single day, a staggering 9.4 billion Dogecoins (DOGE) were moved, setting a new record for whale activity in the past month. This surge in high-volume transactions signals a sharp increase in interest surrounding Dogecoin, particularly from large holders or "whales." Whales, often institutional investors or entities with significant capital, have the power to influence market trends. Their involvement at this stage is especially significant because Dogecoin’s price recently broke through key resistance levels, hinting at a potential bullish reversal. $DOGE


The timing of this whale activity is notable. After hovering below the $0.12 mark for some time, DOGE finally managed to break through this critical resistance level, reaching its highest value since July. This technical breakout is important because it positions the cryptocurrency in a zone that is traditionally bullish. With the price now sitting above both the 200 and 100 Exponential Moving Averages (EMAs), the momentum appears to favor the bulls. This technical setup, combined with the influx of whale purchases, suggests that market sentiment is turning optimistic.
The strong volume of purchases, fueled by whale activity, is also driving confidence in the coin's prospects. However, the Relative Strength Index (RSI) shows that Dogecoin is nearing overbought levels, a sign that a correction could be looming. If the bullish momentum continues, whale transactions could stabilize DOGE’s price and push it toward the next significant resistance point at $0.14.
It’s worth noting, though, that high whale activity can go both ways. While it currently indicates rising interest and a possible long-term trend reversal, the market could experience sharp sell-offs if whales decide to offload their holdings. In that scenario, DOGE’s price could fall back to its previous support levels around $0.11 or $0.10. For now, the strong technical indicators and whale activity point toward continued bullish action, making a significant retracement less likely in the immediate future.
DOGE: A Technical Overview
DOGE’s recent breakthrough above $0.12 is a major milestone. From a technical standpoint, surpassing this resistance has triggered fresh interest in the asset. Currently trading above key moving averages (200 and 100 EMAs), the cryptocurrency is showing positive momentum. The high trading volumes also reflect increased market confidence, especially as Dogecoin inches closer to overbought territory on the RSI.
In conclusion, while there is always a risk of retracement, the recent whale activity combined with technical strength suggests that DOGE might continue to rise in the short term, with $0.14 emerging as the next key target for bulls. If these patterns hold, Dogecoin could be on the verge of a longer-term bullish reversal, with strong support levels below potentially cushioning any pullbacks.

#6thTrade #MarketSentimentToday #Market_Update

Disclaimer: The content of this article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments are highly volatile and may lead to substantial financial loss. Always perform your own research and consult a qualified financial advisor before making any investment decisions. The opinions expressed are solely those of the author and do not represent the views of the publisher or its affiliates. Investing in cryptocurrencies involves inherent risks, and past performance is not a reliable indicator of future results. Please exercise caution.