Shiba Inu (SHIB) is eyeing breaching a new record as October comes to an end today. For a month that has generally been tagged favorable for crypto, Shiba Inu has managed 8.6% growth over the past 30 days, with its price pegged at $0.000007936. Despite this relatively smaller rate of gain, Shiba Inu has been consistent with its uptrend and is eyeing breaching the $0.000008 resistance level.

While the target is clear, Shiba Inu's metrics are somewhat conflicting. At the time of writing, the trading volume of the token is down by 14% to $115,163,988, a slight indication the buying momentum is fading as the month wraps. Besides the volume, the Shiba Inu burn rate is also at its lowest level in weeks.
Per data from Shibburn, this deflationary metric is currently down by 94.53%, with a total of 5,914,901 SHIB sent to dead wallets. This figure pales compared to the 121,210,538 SHIB burnt in a single day in the past week.

Though Shiba Inu is displaying several conflicting metrics at this time, we can expect its fundamentals to come through in the end. Known for its aggressively positive ecosystem, members of the Shib army are likely to continue burning SHIB no matter how little to help sustain the protocol.

Amid these conflicting on-chain metrics, Shiba Inu remained resilient as its price stayed in the green zone, an indication of a push to hit impressive new milestones in the short term.

The usage of Shibarium, the Layer-2 network, is also billed to grow, especially with the minting of the Shib Dream NFT Collection on the horizon. The push to keep faith in the protocol has recently solidified with promises of innovation launches, as teased by lead developer Shytoshi Kusama. #SHIBCommunity #ShibariumBlockchain #shib #ShibaInuPriceForecast #ShibaInuCommunity

Dogecoin (DOGE) price is hovering below support/resistance at $0.07 as the crypto market generally calms down following two weeks of bullish action. The largest meme coin joined in the bullish party triggered by the hype surrounding the potential green lighting of Bitcoin spot exchange-traded funds (ETFs) in the US.

As the largest crypto climbed to highs around $35,000 last week, so did Dogecoin price, which according to market data from CoinGecko has accrued 7.3% gains in 30 days, 13% in two weeks, and 2.3% in seven days
However, declines seem apparent on Tuesday during the US business hours with DOGE correcting by 2% in one hour and 3.6% in 24 hours to $0.0671. The bearish wave is not unique to Dogecoin, considering Bitcoin price is down 0.9% to $34,297, Ethereum sliding by 1.2% to $1,793 and BNB is trading 1.7% lower on the day at $224.

Cumulatively, the total market cap is trending lower by 0.8% to $1.31 trillion implying that the the strong market structure in October is beginning to weaken.
Dogecoin price tested resistance at $0.072 and almost confirmed an expected double-bottom pattern breakout to $0.1 were it not for the prevailing overhead pressure.

The loss of a tentative support at the 200-day Exponential Moving Average (EMA) (purple) could further weaken the technical structure resulting in a larger breakdown.
As the Relative Strength Index (RSI) sinks deeper into the neutral area, the path with the least resistance tends to flip downwards. Hence, the glaring possibility of DOGE sweeping through lower support areas to collect liquidity and build momentum for the next breakout toward $0.1.

The 100-day EMA (blue) at $0.0649 could help absorb the selling pressure, and reduce the chances of a stronger sell-off. Other key support levels to look out for include the 50-day EMA (red) at $0.0637 and the double-bottom support at $0.058.

Technical insight from renowned trader and analyst Rekt Capital shows that DOGE has been “rejected from channel top after a weekly close below it.”
#Doge #BTC

Bitcoin 's value could see a significant surge, driven by the U.S.'s future borrowing plans and the increase in circulating money since the pandemic, according to predictions made by several prominent figures.

Max Keiser, Bitcoin maximalist and host of the Orange Pill podcast, maintains his prediction of Bitcoin hitting $220,000. He referenced a tweet by @zerohedge about the U.S.'s plan to borrow an additional $1.5 trillion in future quarters. Keiser believes this growing U.S. debt will trigger a sharp rise in Bitcoin's value. The increase in circulating money since the pandemic began in 2020, including "survival checks" and over $6 trillion printed by the U.S government, has significantly influenced Bitcoin's price surge.

Anthony Scaramucci, founder of SkyBridge Capital, also holds a bullish outlook on Bitcoin. He anticipates a bull run pushing Bitcoin to between $150,000-$200,000 and potentially reaching as high as $750,000 by decade's end.

Similarly, Robert Kiyosaki, author of "Rich Dad, Poor Dad," predicts Bitcoin reaching $135,000 next and potentially hitting "$500,000 by 2025." His forecast is based on BRICS nations' plans for a new gold-backed trade currency.

These optimistic forecasts reflect a growing belief among some investors that Bitcoin and other cryptocurrencies can act as a hedge against inflation and currency devaluation amid expansive monetary policies. #BTC🔥🔥 #BTC #bitcoin

FLOKI and PEPE have witnessed a massive rise in prices among the memecoins and have been noted to outperform major currencies, including Ethereum (ETH). The rise in these memecoins cannot be directly implicated to events on their networks but can be a result of the rising interest in Bitcoin-spot ETFs. #doge #PEPEs #MemeEconomy

Investors have shown their confidence in Bitcoin ETFs as inflows on the underlying asset have been rising over the past month. At the same time, the memecoins craze is expected to introduce massive trade amongst investors:

Amid the growing investor interest in Bitcoin-spot ETFs, memecoins have been influenced, and Floki (FLOKI) recorded a 40% jump. However, in Floki’s case, the launch of TokenFi, its sister token, added to its value increase in the past 24 hours. The new staking program has incentivized its community members as FLOKI tokens are offered as rewards to stakes.
Currently, at the time of writing, FLOKI is up by 4.68 % in the past 24 hours, recording a market cap of $351 million and a trading volume of $82.1 million, which accounts for a 4.50% increase.

Pepe (PEPE) also experienced a surge of 77% following the influence of the broad-based crypto rally. Additionally, the Pepe token burn also added to the price gains that fueled the breakout rally this week.

An estimated 6.9 trillion PEPE tokens were burned, and this accounted for an equivalent of $5.5 million. Since its inception into the market this year, Pepe Coin soared to a market value of $1 billion and was followed by a market correction that plummeted this value by 60%.

Based on market data, PEPE is up by 11.15% in the past 24 hours, with a current price of $0.00000000029 at the time of writing. Its daily trading volume has also increased by 4.88% to $13,542.

According to one market analysts, “The bear market put a dampener on meme activity, especially in terms of market value, but it stayed quite lively anyway. Now that sentiment is more confident

Will Polymesh go up or down?
No one can really tell right now. While the Polymesh crypto price predictions are largely positive, price predictions have a well-earned reputation for being wrong. Keep in mind, too, that prices can, and do, go down as well as up. #POLYXUSDT

Should I invest in Polymesh?
Before you decide whether or not to invest in Polymesh, you will have to do your own research, not only on POLYX, but on other, related, coins and tokens such as Solana (SOL) and Ethereum (ETH). Either way, you will also need to make sure that you never invest more money than you can afford to lose.

Polymesh (POLYX) Explained
Polymesh is a blockchain designed to help people use and develop their own security tokens. These allow people to own assets on the blockchain. In other words, Polymesh is a blockchain for regulated assets.

The blockchain, which was founded in 2020 by a team of developers including Adam Dossa, Graeme Moore and Jesse Lancaster, is supported by the POLYX coin.

How Polymesh Works
Polymesh uses a Proof-of-Stake (PoS) consensus mechanism. This means that people who hold POLYX can add blocks to the blockchain and secure the network.

Anyone who wants to examine the chain can do so, but they will have to pass an identity check. The system is supported by computers, or nodes. These nodes are all operated by licensed financial entities. The system claims to be compliant with regulations, and it promises users confidentiality.

POLYX pays for charges associated with the network. Holders can vote on changes to the network and people can buy, sell, and trade POLYX on exchanges.

By now I'm sure you've heard about the Golden Cross that just happened for #Bitcoin

What you probably didn't hear is what this is, or what comes after.

But don't worry, I've outlined every Golden Cross that's come outside of a bear market downtrend to show you!

This our second golden cross of the year.

This occurs when the 50-day moving average crosses above the 200-day moving average.

In the short term, it's actually more common this brings some downside, with only one instance (October 2015) plowing right through.

The typical percentage in an uptrend seems to be about an 8% decline. This would be about $31,600 from current prices.

But after that, the results are usually very positive!

2 of 7 have come before the entire bull run.

Another 2 have come right before parabolic rise.

(This would have likely been another that came before the bull run if we had not seen the early 2019 parabola and the 2020 black swan)

Here's what I think is most likely:

The Golden Cross launches the entire cycle 4 bull run, with a little initiation dump to get us going.

Nayib Bukele seeks reelection, with Bitcoin adoption reshaping the nation’s economy.
Celebrating the anniversary of acquiring Twitter, now named X, with hints at Dogecoin integration.
Binance CEO, Changpeng Zhao, faces a $12 billion loss amidst falling crypto volumes.
Ethereum (ETH/USD) exhibit’s bullish sentiment with the price above the key $1,800 trendline.
Solana’s marking an impressive 6.18% growth, Solana targets the $35.56 resistance level.

Quick Fundamental Outlook
El Salvador’s pro-Bitcoin president, Nayib Bukele, is seeking reelection in February 2024, despite constitutional debates about consecutive terms. The nation’s Bitcoin adoption and tech-friendly regulations have reshaped its economy, with Bukele’s party, Nuevas Ideas, enjoying substantial support.

This political move, coupled with El Salvador’s Bitcoin endorsement, has likely uplifted Bitcoin’s price. Simultaneously, Elon Musk commemorated the anniversary of his Twitter acquisition, now named X, with significant platform modifications. The Bitcoin community expressed gratitude, tying Bitcoin to financial autonomy, and speculating about Dogecoin’s potential integration into X.

Musk’s crypto engagements might be driving Bitcoin’s recent price rise. Meanwhile, Binance CEO Changpeng Zhao (CZ) has reportedly lost around $12 billion due to falling crypto trading volumes. Despite regulatory challenges in the U.S., Bitcoin’s price remains unaffected.

These developments might influence Ethereum, Solana, and Thorchain’s trajectories due to interconnected market dynamics.

Dogecoin has also benefited from the general crypto market rally, gaining over 7% in the past week. DOGE has settled at the $0.069 price range today, with its market cap above $9 billion, showing its massive adoption. Also, on the weekly chart, DOGE shows signs of a breakout pattern as more buyers continue to accumulate the tokens.

According to crypto analyst Ali Chart, Dogecoin has broken out of a multi-year descending triangle pattern on the weekly chart. The analyst believes this confirms a buy signal for the asset on the weekly timeframe, making its future outlook bullish.

DOGE Breaks Out Of Descending Triangle Pattern
DOGE entered a descending triangle pattern from July 2023 as bearish conditions in the market forced a decline. However, the buyers forced a breakout from this pattern in October as the general market moved into an uptrend.

Remarkably, DOGE flipped the $0.067 resistance level into support, rallying to the $0.071 resistance level. Furthermore, DOGE has formed two consecutive green candles on the weekly chart, confirming its break out of the descending triangle.

Related Reading: Ethereum Resilient Above $1,800 Pre-FOMC Meeting – Details

Additionally, the Relative Strength Index (RSI) displays a value of 51.8 in the neutral zone and moving sideways. It implies that while the buyers are dominant, some traders are beginning to make a profit, leading to a slight decline. However, if the RSI moves to 55, the buyers will likely resume the accumulation phase.

Also, the Moving Average Convergence/Divergence (MACD) is above its signal line, displaying a buy signal on the weekly chart. Moreover, the green Histogram bars confirm that the buyers are not yet done with the accumulation of DOGE. If DOGE breaks above the $0.071 resistance level, it will likely continue on its rally in the coming weeks.

$DOGE

Complicated Weekly Close for #dogecoin

1W Close occurred below the Channel Top resistance

This means that the #doge breakout is postponed

Previous 1W Closes like this -> downside

However if DOGE can hold the highs and reclaim the Channel Top as support - there may still be a chance

#BTC    #Crypto #Bitcoin #doge