Shiba Inu (SHIB) May Break Major Record This Month, Here's Reason.

Shiba Inu (SHIB) had a good showing in the month of May, despite the broader market uncertainty. The digital currency recorded 13.2% growth in May, according to data from Cryptorank. This performance is a major lift-off from the 15.4% slump it recorded in May 2023 as it effectively broke free from that bearish trend.

This month holds an even bigger stake for Shiba Inu. Since its inception, the digital currency has never recorded a positive close for June. In June 2021, the token recorded a 4.75% slump, setting the historic record for a 12% slump in June 2022. Last year, Shiba Inu also ended the month down by 11.5%, creating an avenue for SHIB to make a difference this month.

The market dynamics this year are quite different from any in the past three years. Now, there are spot Bitcoin ETF products trading on U.S. stock exchanges. While this does not impact Shiba Inu directly, it bolsters the general institutional liquidity that can drive BTC prices up. As a token with a high correlation with Bitcoin, Shiba Inu is also poised to benefit from this rally.

As per the internal Shiba Inu updates, the digital currency has recorded a major evolution that can contribute to its bid to breach major records this month. Unlike last year, Shibarium is fully operational with a growing total value locked (TVL) and functional decentralized applications (dApps) that are helping to drive the demand surge for SHIB.

Shiba Inu is also well positioned to make history this month considering its current momentum over the past few weeks.

Though it has been in and out of the top 10 list of coins by market cap, displacing Cardano and Avalanche recently, SHIB has shown that it can ride a steady momentum to clear outstanding losses.

While it remains too early to tell, Shiba Inu might pull a similar May growth stunt to breach the historic June losing streak.

Ethereum (ETH) Confidence Soars Among Large Whales, Here's Big Bullish Driver.

Recent report published by the on-chain data aggregator Into TheBlock shows that recently large Ethereum whales have become more confident in their big bet on Vitalik Buterin-made cryptocurrency.

These whales have greatly intensified ETH accumulation. However, there is more analytics data showing that overall Ethereum sentiment is growing bullish quickly in the market now.

Whale ETH accumulation speeds up.

Into TheBlock shared that large cryptocurrency holders have begun to buy more ETH and do it more frequently, intensifying accumulation.

According to the data it shared, at the moment approximately 41% of the circulating Ethereum supply is owned by wallets each holding more than 1% of the ETH supply. This is a 36% increase from 36% which was noted by the on-chain data collector at the start of the year. This trend highlights "increasing confidence among large holders," Into TheBlock stated.

The recent approval of spot Ethereum exchange-traded funds (ETFs) seems to be the largest driver of the increased ETH accumulation by whales. The final decision of the SEC regulatory body is expected to come later in June once the commission makes a schedueled meeting.

The Ethereum ETFs were approved
following the positive decision of the SEC
regarding spot Bitcoin ETFs announced by
its chairman Gary Gensler in the middle of January. The approval of Ethereum funds came much faster than that of Bitcoin-based ETFs. The latter took the regulator almost a year with the applications making
various required updates to their
applications.

It was the same with the Ethereum products - the ETF applicants removed the ETH staking option from their applications.

Will PEPE Continue to Rally in June?

The frog-themed coin has been good to its holders in the past month. Currently, 91.59% of PEPE addresses, representing 227,990 holders, are in profit. Additionally, 5.32% of addresses, or 13,250 holders, are at breakeven with the current price around $0.0000144 per token.

As of late May 2024, the chart shows what seems to be a correction on a monthly scale. Whether the rally continues in June remains the biggest question.

PEPE price prediction.

Pepe is now ranked as the 28th cryptocurrency by market cap on CoinGecko and has secured the 20th spot on CoinMarketCap with a current market cap of $6.16 billion as of June 1.

Over the past month, PEPE has surged by 107%, outperforming the overall market and the average meme coin. This performance has pushed PEPE above its 50, 100 and 200-day EMAs, highlighting its strong bullish trend.

If we look at PEPE market value to realized price ratio, we can guess the potential "true" value of PEPE.

Despite its impressive gains, meme coins, including PEPE, are notoriously volatile. Many analysts predict a likely further price correction. For instance, Ali Martinez has noted bearish signals, pointing out that PEPE's daily RSI has surpassed 70, an overbought level that often precedes price corrections or consolidations.

When the average RSI value surpasses 70,
this increases the risk of a sell-off.
However, it is important to note that the market can remain overbought for
extended periods, with prices continuing to
rise.

According to the RSI heat map, PEPE currently sits at the "strong" level, with a potential "sell" signal. Into TheBlock data also indicates a bearish sentiment as June approaches.

Another important indicator is the historic
correlation with the BTC price. As shown in the chart below, PEPE has seen mostly
negative correlation with both Bitcoin and
Ethereum within a year since its launch.

The likelihood of both Ethereum and Bitcoin rallies remain high in June, which poses the question of whether PEPE trajectory will change its course in the next few weeks.

June Pump for XRP? Price History Reveals All.

In May, the seventh largest digital asset saw a notable 5% price increase, crossing the important $0.5 mark and maintaining overall price stability. However, historical data suggests that the upcoming month may not be as promising for XRP enthusiasts. Over the past decade, June has been a tough month for the popular cryptocurrency.

The average return on investments in XRP during the first summer month stands at -5.59%, with the median return being even worse at almost 9%. This historical pattern shows that there is a high chance that XRP will go down in June. CryptoRank says that since 2017, XRP has consistently lost money in June for its investors, with declines of at least 8.2%.

The crypto market is known for being
volatile, but the statistical sample for XRP is pretty solid, given that it is one of the oldest digital tokens. This long history gives a good idea of what to expect. So, It looks like investors should be ready for a possible loss in the first month of summer.

XRP was pretty stable in May, with no big
price swings. That is a big change from
what we typically see in June. If history
repeats itself, those who are hoping for
more growth might be disappointed. If you
are an investor looking for a June rally for
XRP, you might want to think twice. The
historical data points toward a likely
downturn.

Shiba Inu: 65 Trillion SHIB at Risk as Price Suddenly Drops 4%.

Shiba Inu (SHIB) is facing a critical moment amid its recent price drop. This decline puts the 65 trillion SHIB level at risk, a significant support zone that has previously helped stabilize the token's value.

Shiba Inu's price has fallen nearly 4% in the last 24 hours. This dip comes amid a broader market decline as investors reacted to the latest release of key inflation data, which provided hints about the path ahead for interest rates.

Bitcoin fell alongside other cryptocurrencies as the U.S. announced
that the core PCE price index in April was
2.8% YOY, compared to the predicted
2.80% and the prior 2.80%. The U.S. core
PCE price index fell to 0.2% in April, lower
than predicted, and the lowest since
December 2023. At the time of writing,
several cryptocurrencies traded in red,
alongside SHIB, which was down 3.46% in
the last 24 hours to $0.0000255.

According to Into TheBlock data, 65.53 trillion SHIB were bought by 62,110 addresses in the range of $0.000025 and $0.000027 at an average price of $0.000026.

The recent drop in the SHIB price has put this key range under the microscope, with SHIB approaching the lower end of this range at $0.000025. Market analysts are keeping a tight eye on the SHIB price, as holding above the 65 trillion SHIB range could be pivotal for SHIB's short-term price action. If the price stabilizes or bounces back from this point, it could reinforce the support level's strength and possibly lead to a bullish trend.

However, if the price continues to decline and the 65 trillion SHIB level is lost, it could open the door for a deeper correction, possibly to $0.000019.

According to on-chain data, Shiba Inu's next major support lies between $0.000019 and $0.000025, where 59 trillion SHIB were bought by 111,420 addresses. On the other hand, if SHIB could surpass the key 65 trillion level, Shiba Inu might challenge the key barrier at \$ 0.000027 and $0.000030.

13.53 Billion Dogecoin Bought at DOGE Critical Support: Details.

Dogecoin, the eighth largest cryptocurrency by market cap has recently seen a significant support level emerge, marked by a substantial volume of 13.53 billion DOGE.

This is where a significant number of Dogecoin addresses hold 13.53 billion DOGE. According to Into TheBlock data, 13.53 billion Dogecoin were bought in the range of $0.154 and $0.1673 by 225,990 addresses at an average price of $0.1617.

This critical support level highlighted by on-chain data occurs near the key daily SMA 50 at $0.154. As observed on the daily charts, Dogecoin has seen a battle of bulls and bears above this key level in recent days.

For the first time since mid-April, Dogecoin rose above the daily SMA 50 that had constrained its price, breaching it. Although bears attempted to drive the Dogecoin price below this key level twice since this date, the bulls resisted, signaling that the dips were being bought.

After steadily declining during the week, Dogecoin is approaching the critical daily SMA 50 level. Market analysts are keeping a close eye on Dogecoin's price, as a breach below this key level could trigger further declines and extend Dogecoin's consolidation phase.

Historically, critical support levels have served as launchpads for major price gains, fueled by renewed investor confidence and buying interest. in the case of Dogecoin, the daily SMA 50 acted as a springboard for the Dogecoin price surge in late February to March and in the latter part of 2023, notably from October to December.

If Dogecoin manages to hold above this critical level, it could signal the start of a new upward trend. if substantiated by volume increases, there could be enough buying pressure to propel the price upwards, challenging higher resistance levels.

At the time of writing, Dogecoin was down 0.80% in the last 24 hours to $0.16.

Shiba Inu (SHIB) Rival Dogwifhat (WIF) Amid Top Gainers in Past Week.

In the shadow of the Notcoin (NOT) rally fueled by in-game activities and rewards, some large meme coins yet again made it into the lists of the top performers. As all eyes are on Solana (SOL) again, Dogwifhat (WIF) outperforms all competitors in the mid-cap altcoin scene.

Dogwifhat (WIF) becomes top gaining crypto amid mid- caps.

In the past seven days, the capitalization of Dogwifhat (WIF), the biggest Solana- based meme crypto, soared by 25.9%. Yesterday, the WIF price touched a seven- week high over $4 on major spot exchanges. As such, WIF becomes the undisputed best perfomer of the past week amid the top 50 cryptocurrencies.

Dogwifhat's (WIF) market cap, therefore, is sitting above $3.5 billion. It not only eclipsed the largest Ethereum L2, Arbitrum (ARB), but also veteran cryptocurrencies Cosmos (ATOM), Kaspa (KAS) and Filecoin (FIL).

Notcoin (NOT) becomes the best performer in the top 100 after an unexpected 158% rally in seven days. The controversial TON-based app stole all the headlines with its listing on CEXes and rewarding activities for early users and NOT holders.

In the Solana (SOL) meme coin ecosystem, low-caps also demonstrated perfect gains in the last week. Book of Meme (BOME) is almost ready to join the 10-digit club, while Cat in Dogs World (MEW) soared by 80% in seven days.

Meanwhile, Dogecoin (DOGE) lost 2% of its price in a similar period, while Shiba Inu (SHIB) added 7%. The Floki (FLOKI) price jumped by almost 20%; the asset eclipsed $2.5 billion in aggregated market cap for the first time in months.

Dogwifhat (WIF) hit impressive milestones in May.

May 2024 resulted in notable accomplishments for the Dogwifhat (WIF) community. The token entered the top 30 assets by market cap for the first time in its history.

The community started recalling its Q1, 2024, rally by posting "hat is still on" memes.

Bitcoin (BTC) Rolls out Latest Core Update; What's New?

The Bitcoin network is set to receive a fresh update with the release candidate of Bitcoin Core v27.1rc1 now available.

In a new tweet, the Bitcoin Core development team has announced that the new release candidate, v27.1rc1, is now available for testing.

This marks a significant step forward following the launch of version 27.0 in mid- April. Release candidates are test versions for releases. When no critical problems are found, this release candidate will be tagged as v27.1.

The new release candidate marks a continued effort to enhance the Bitcoin protocol, ensuring its robustness, security and efficiency.

Bitcoin Core v27.0 brought with it a host of improvements, including new features, bug fixes, performance enhancements and updated translations. It was a significant update that bolstered the functionality and security of the Bitcoin network. Now, v27.1 aims to build upon this foundation with further refinements and optimizations.

This milestone comes as the development team behind Bitcoin Core continues to roll out updates that are thoroughly tested and reviewed.

The release candidate phase is a critical part of this process, allowing developers and users to test the new version in various environments and provide feedback. This collaborative effort ensures that any potential issues are identified and resolved before the final release.

As the testing phase progresses, the community eagerly awaits the v27.1 final release, anticipating the new features and improvements it will bring to the Bitcoin network.

Solana (SOL) Price Prediction for May 31.

SOL/USD.

The price of Solana (SOL) has risen by 2.15% since yesterday.

On the hourly chart, the rate of SOL is rising after a false breakout of the local support level of $165.52. If the growth continues to the resistance, there is a possibility to see a further rise to the $170 zone.

On the daily time frame, the price is in the middle of the channel, which means none of the sides is ready for a sharp move. In addition, the volume keeps falling.

In this case, ongoing sideways trading in the area of $165-$170 is the more likely scenario until the end of the week.

From the midterm point of view, one should pay attention to the support level of $160. If the sellers' pressure continues and the bar closes near the mentioned mark, traders may witness a test of $150.

SOL is trading at $166.27 at press time.

Shibarium Total Value Locked Hits 93.6 Billion SHIB: Details.

Shibarium, the layer-2 scaling solution of the Shiba Inu ecosystem, has seen a mild surge in its Total Value Locked (TVL). This metric jumped from $2.15 million on May 21 to $2.42 million today, a move that accounts for more than 12%. Beyond the visible growth, the uptick in the TVL is a testament to the growing usage of Shibarium, which as of early January, boasts of less than $1 million locked, per data from DeFiLlama.

The current $2.42 million in locked value amounts to exactly 93,653,250,774 SHIB locked in different protocols hosted on the platform. As of today, the biggest DApp on Shibarium is Woofswap, recognized as the first Ve(3,3) decentralized exchange on the layer-2 network. Woofsa dominates with $1.68 million in TVL.

ChewySwap, MARSWAP, DogSwap and PunkSwap take the top five positions, with $443,435; $178,135; $56,232 and $37,264 in TVL, respectively. Many consider Shibarium as an undervalued layer-2 outfit when compared to its peers, including Polygon, Arbitrum and Optimism.

However, its DeFi fortunes might soon change with the recent migration of ShibaSwap from the Ethereum mainnet to Shibarium. As the first DEX on Shiba Inu, the protocol has garnered a massive user base with a TVL of $28.9, a figure that can significantly boost the outlook of Shibarium overall.

More innovations are ongoing on Shibarium to boost the overall performance. The protocol underwent a major hard fork upgrade weeks ago as it looks forward to a new era of faster speed, lower cost and more predictable gas fees, even in times of network congestion.

Shibarium is operating in a highly competitive environment, and core developers within the community are looking to boost engagement, drive innovation and network with new partners to drive its longer-term agenda and growth.

EOS Network Limits Coin Supply to 2.1 Billion.

EOS Network Foundation's CEO Yves La Rose announced the approval of a significant proposal to limit EOS's total supply to 2.1 billion units. This decision follows a community-driven initiative where block producers agreed to set a fixed supply limit and burn approximately 80% of excess coins. The implementation of this proposal will primarily target future emissions, reducing the planned total supply from 10 billion to 2.1 billion coins.

The Proposal Received Approval from at Least 15 of the 21 Block Producers.

For those unaware, the EOS Network Foundation, representing the EOS community, took control from Block.one in 2021. The Foundation submitted a multi- signature proposal to limit the EOS supply, receiving approval from at least 15 of the 21 EOS block producers. La Rose confirmed the consensus in a post on X and emphasized the network's acceptance of the tokenomics proposal. The initial update is expected to be implemented in the coming months.

As of now, EOS has a circulating supply of 1.15 billion coins, representing 54% of the planned total supply. An additional 950 million EOS coins will be minted to support ecosystem growth and activities such as rewarding stakers and block producers.

In his announcement, La Rose detailed these plans, emphasizing the EOS Network Foundation's commitment to the long-term sustainability of the EOS community.

The Emergence of the EOS Network Foundation.

Founded in August 2021 under the leadership of La Rose, the EOS Network Foundation is a non-profit organization aiming to support and develop the network. The Foundation unveiled a new roadmap for the EOS ecosystem. Initially, EOS garnered significant interest during its initial coin offering (ICO) from 2017 to 2018, raising $4 billion.

Previously, there were disputes between the Foundation and Block.one, with claims that Block.one did not reinvest significant ICO funds into the EOS Network as initially promised.

Legendary Trader Peter Brandt Reveals Epic 344% Bitcoin Price Growth Prediction.

Veteran trader Peter Brandt has made an epic new prediction about Bitcoin's future value relative to gold.

According to analysis, Bitcoin (BTC) is set to keep on going up against precious metal over the next 12 to 18 months. He foresees that the number of gold ounces needed to buy one Bitcoin would eventually reach 100, which would mean a 344% rise in Bitcoin's current value compared to gold.

Brandt's forecast is backed up by a chart he shared, showing how Bitcoin has performed historically against gold. If Brandt's prediction comes true, Bitcoin fans could see some big returns on their investments as the digital currency outperforms the traditional safe-haven asset.

Tale of Two Peters.

In his analysis, the trader also mentioned Peter Schiff, a well-known gold investor and critic of cryptocurrencies. Schiff has long argued that Bitcoin is a speculative bubble with no intrinsic value, favoring gold as a more reliable store of value. His skepticism toward Bitcoin has made him a controversial figure in debates about the future of digital currencies versus traditional assets.

As it stands now, the price of the major cryptocurrency has settled at 29 ounces of gold or $68,000 per BTC. The next 12 to 18 months will be key to seeing if Brandt's bullish prediction comes true.

While Bitcoin continues to gain mainstream acceptance and attract institutional interest, the financial community remains divided on its long-term viability and worth.

Buy Ethereum (ETH) While Dollar Is Cheap: Ryan Sean Adams.

The approval of the Ethereum ETF is a huge step for the market and the industry. We should see a substantial surge of capital inflows into the market, along with the appearance of fresh investors. Some venture capitalists like Ryan Sean Adams believe this is the time to grab some Ether before institutions get in.

There is just one question left: Who will be Ethereum's MicroStrategy now that the Ethereum ETF has been approved and the regulatory fog has lifted? MicroStrategy's approach to Bitcoin was to purchase BTC using inexpensive dollar debt from the public market. The share price increases and then repeats the process. Both the price of Bitcoin and the market value of MicroStrategy increased dramatically as a result of this strategy.

The only question now is who will approach Ethereum in a similar manner. Institutional investors that had previously shied away from Ethereum because of regulatory uncertainty will now have more options, thanks to the Ethereum ETF.

Ethereum's price may rise as a result of this capital inflow just as Bitcoin did when it gained institutional support. With its approval the ETF gives the cryptocurrency market legitimacy and lowers the perceived risk for big investors. This indicates that the market is maturing. This is a crucial time, according to venture capitalists like Ryan Sean Adams. They expect an influx of institutional investors eager to learn more about Ethereum. Purchasing ETH now, ahead of this anticipated surge, might be a wise decision.

Large-scale investments are expected to drive demand and possibly result in a notable price appreciation changing the dynamics of the market. As with MicroStrategy's Bitcoin strategy, the main tactic would be to purchase ETH with dollar debt from the public market at a low cost.

Bitcoin Faces Resistance After Recent Surge.

Bitcoin (BTC) halted after breaking through the $67,000 resistance. Last week, the upward movement reached $72,000 on May 21. As of writing, it has fallen by 5.7% to $67,800.

Bitcoin Inflows.

A recent report investigated the demand for Bitcoin-backed investment products, with most inflows coming from the US. The recent drop quickly cut the upward trend, showing that bulls are not yet ready to surpass $71,500. However, the long-term outlook remains bullish, and according to one metric, we are only halfway through the bull run. Crypto analyst Axel Adler used Bitcoin MVRV Z scores in a post on X to show that only half of the current cycle is complete.

This metric evaluates whether Bitcoin is overvalued or undervalued compared to its fair value. MVRV can mean the market value to realized value, comparing the token's market capitalization to the cumulative capital inflow into the asset. When the former is much higher, it indicates a potential peak. The MVRV Z- score compares the MVRV difference to the standard deviation of Bitcoin's market value. In previous cycles, an MVRV-Z score of 7 or higher marked cycle peaks.

Historical Data on BTC.

During the recent run, the metric rose to 3.07. This could mean we will see more price increases in the coming months. The group of BTC holders for six months and over saw activity on February 28. The 3-6 month age range was particularly active, showing profit-taking activity from this group.

Similarly, those relatively active in the market over the past two months and who recorded a selling move on May 21 when prices rose above $70,000 were the 1-3 month holders. However, most older holder groups did not see intense selling activity on exchanges in April and May. This is because the expectation of a post-halving price increase in crypto currency has not yet disappeared.

DOGE Price Prediction for May 30.

DOGE/USD.

The price of DOGE has declined by 3.15% over the last 24 hours.

On the hourly chart, the rate of DOGE has made a false breakout of the local support level of $0.1574. However, if the daily bar closes near it, there is a chance to see a more profound decline to the $0.15 zone.

On the bigger time frame, neither bulls nor bears are dominating as the price is in the middle of a wide channel. In this case, traders are unlikely to see sharp moves any time soon.

All in all, consolidation in the range of $0.1550-$0.1650 is the most likely scenario.

From the midterm point of view, the rate of DOGE has once again failed to fix above the resistance of $0.17. If the situation does not change by the end of the week, the correction may continue to $0.15.

DOGE is trading at $0.1616 at press time.

Solana (SOL) Dominates Ethereum (ETH): Glassnode Cofounder.

According to Glassnode cofounder Yann Allemann, capital rotation within the cryptocurrency market has begun.

Allemann has noted that Solana (SOL) is currently dominating Ethereum (ETH). His assessment comes after the former gained roughly 10% against the latter since May 27.

The SOL/ETH pair experienced a
significant decline following the approval of several spot Ethereum exchange-traded funds (ETFs) by the U.S. Securities and
Exchange Commission (SEC) earlier this
month. On May 27, the price of Ethereum
peaked at $3,973 on the Bitstamp exchange. However, the excitement
surrounding the SEC's much-coveted nod
quickly dissipated, with ETH shedding 7%
in several days. The SEC is yet to approve
S-1 registration statements for these ETFs to go live.

At the same time, Bitcoin's market dominance has collapsed more than 4% since May 6 after breaching the 56% mark.

Once a certain cryptocurrency rallies, it tends to cool off, while traders take profits and place bets on other assets. Capital rotation within cryptocurrencies can also take place internally, meaning that the same cryptocurrency gets acquired at different prices.

Despite its recent weakness, Bitcoin is still neck-and-neck with Ethereum on a year- to-date basis. The two cryptocurrencies are up 77.71% and 79.38%, respectively.

Solana ETF?

After Bitcoin and Ethereum have benefited from the ETF hype, analysts are now eyeing other potential cryptocurrency contenders.

CNBC contributor Brian Kelly has predicted that Solana could end up being the next major digital asset to get its own ETF. This view is also shared by American financier Anthony Scaramucci and British bank Standard Chartered.

At the same time, the Chicago Mercantile Exchange (CME) recently shut down rumors about potentially launching Solana- based futures.

Shiba Inu (SHIB) Hailed by Boxing Legend Manny Pacquiao.

Legendary boxing champion Manny
Pacquiao recently applauded Shiba Inu (SHIB) for supporting his foundation's
philanthropic efforts. At the same time,
Pacquiao expressed excitement for Shibarium, Shiba Inu's layer-2 blockchain platform.

Manny Pacquiao's gratitude for SHIB.

Not much was known of the collaboration between Shiba Inu and Pacquiao until this time.

"Hello, Shib community! Thank you for your commitment to helping those in need. We appreciate your continued support for the Manny Pacquiao Foundation (MPF) and we are excited for Shibarium," Pacquiao stated in a special message.

Typically, an endorsement from an influential personality like Pacquiao is expected to have a positive impact on the price of SHIB. This is because an endorsement from influential figures can lend credibility to a cryptocurrency and potentially increase investor confidence.

However, the price of SHIB appears to be moving in the opposite direction. At press time, SHIB is priced at $0.00002672, down by 1.59% in the past day. Also, the trading volume decreased by 38.9% to $1.4 billion, indicating dwindling interest from investors.

Nonetheless, Pacquiao's collaboration with the Shiba Inu ecosystem establishes a standard for how crypto can be used for the greater good. As the world watches the intersection between crypto and philanthropy.

Positive Developments in Shibarium.

Pacquiao's goodwill message coincides with positive developments in the Shibarium ecosystem.

the network said it has reduced bridge time from Shibarium to Ethereum to approximately 45 minutes from seven days. As a result, BONE withdrawals from Shibarium to the Ethereum chain will be much faster and smoother.

Meanwhile, Shibarium recently clinched a new milestone, recording 60% growth in transaction volume. According to the details, transaction volume soared from 5,150 to 7,930 in just 24 hours, leading to a sharp increase in network fees. The number of BONE tokens used to cover these costs increased from 16.68 BONE to 32 BONE.

XRP Just Dropped Below Crucial Support Level.

The situation on the XRP chart is swiftly getting worse; the asset host lost its ground at the 50 EMA and is now on the verge of entering freefall mode. In case of a breakdown from here, the asset may start its movement toward the $0.4 price threshold, and in that case would cause some serious concerns for investors. Luckily, the volume is also suppressed, which may hint at the lack of bearish conviction for now.

The 50-day, 100-day and 200-day moving averages, as well as other important moving averages, are all slightly below where XRP is currently trading at about $0.52. As the price tries to hold above these crucial levels, this positioning points to a strong bearish trend.

The bearish sentiment is further highlighted by the fact that the 50 EMA, which was previously acting as support, is now acting as resistance. The market sentiment is neutral to slightly bearish, as indicated by the RSI, which is currently trading at 47.

This RSI level suggests that there is still potential for a price decline before crossing into an oversold area, which may lead to a technical reversal. An analysis of the volume offers a degree of cautious optimism.

Itis possible that the selling pressure is not as strong as it could be because of the relatively low trading volume. Bears may not be fully committed to driving the price lower if there is not a spike in volume, which usually follows significant bearish moves.

The $0.40 mark represents the next major support if XRP breaks below its current level. Maintaining the asset above this psychological barrier will be essential as a decline below it might cause further damage to investor confidence. Positively regaining the 50 EMA and surpassing $0.55 might indicate a possible reversal and draw in buyers.

Dogecoin (DOGE) Lead Dev Shares Crucial Warning.

A key developer in the Dogecoin community, known as Mishaboar, has issued a critical warning regarding the security of cryptocurrency seed phrases. Mishaboar cautioned against the common practice of storing seed phrases in online password managers like LastPass. He described these services as risky and potentially vulnerable to breaches.

Instead, he advised users to store their seed phrases offline in several secure locations. Mishaboar stressed that any seed phrase previously saved in an online password manager should be considered compromised, and users should move their Dogecoin to a new wallet immediately.

Mishaboar also highlighted the challenges of ensuring a secure environment for managing seed phrases. Even offline devices can be compromised by malware that captures data and sends it once an internet connection is restored.

He recommended using a freshly set-up Raspberry Pi with a clean operating system and no network connections to type and store the seed phrase on an offline USB drive. Afterward, the SD card should be completely wiped to eliminate any potential threats.

The level of security should reflect the value of the cryptocurrency holdings, Mishaboar noted. Given the volatile nature of cryptocurrencies, even small amounts can significantly increase in value over time, making strong security measures essential.

As Dogecoin and other digital assets grow
in popularity and value, users must adopt
stringent measures to protect their
investments, the DOGE contributor is
convinced. Mishaboar, though, is not the
latest to call for caution in cryptocurrencies
in recent days. Ethereum founder Vitalik Buterin, for example, warned against
cryptocurrency scams posing as "official"
in a recent post on Farcaster.

Ethereum Whale Holding $650 Million in ETH Decoded: Possible Identity Unveiled.

A recent revelation uncovered the identity of a significant Ethereum whale holding a staggering $650 million worth of ETH. Based on on-chain data, the whale has been possibly identified as DBS, the largest bank in Singapore, boasting assets totaling $739 billion.

According to Nansen, a blockchain analytics firm, DBS Bank, Singapore's financial titan, has been identified as the holder of an Ethereum wallet containing a staggering $650 million worth of ETH. This discovery, if true, places the bank among the ranks of one of the largest Ethereum whales in the world.

DBS Bank, known for its robust asset base, has not only marked its presence in traditional banking but also in the burgeoning world of cryptocurrencies. The wallet in question, flagged by Nansen as a significant "whale," has reportedly accrued a profit of $200 million simply by holding onto its ETH asset.

The intrigue deepens as DBS Bank has not
officially confirmed wallet ownership.
Despite this, the evidence presented by
Nansen suggests that the wallet's holdings
could be part of DBS Bank's digital
exchange for accredited investors.

This speculation arises from the fact that the ETH held by the wallet could represent assets managed on behalf of investors, rather than direct bank assets.

In 2020, DBS Bank revealed a crypto
trading and custody service and a platform
for conducting security token offerings. At
that time, DBS Exchange stated that while it would not hold any assets itself, it would provide investors with custody services.

ETH was down 0.01% in the last 24 hours to $3,784 at the time of writing. According to a recent observation by crypto analyst Ali, there has been a notable increase in Ethereum addresses holding 10,000 ETH, indicating a shift from distribution to accumulation.