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$SHIB ready to take profits
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$PEPE almost begins to š š š
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As of December 27, 2024, Shiba Inu (SHIB) is trading at approximately $0.00002174. Various sources provide differing predictions for SHIBās price by the end of 2024: ā¢ CoinCodex forecasts SHIB trading between $0.00002338 and $0.00005019 in December 2024. ļæ¼ ā¢ InvestingHaven projects a potential high of $0.0000444 for SHIB in 2024, aligning with the 50% Fibonacci retracement level. ļæ¼ ā¢ CoinGape anticipates an average price of $0.0000303 for SHIB in 2024. ļæ¼ These predictions suggest a potential increase in SHIBās value by the end of 2024, though actual performance will depend on market conditions and developments within the Shiba Inu ecosystem. $BTC $ENA $SHIB
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Go with $pepe
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Some reasons behind the dumb.. Several factors have contributed to this decline: 1. Federal Reserveās Monetary Policy: On December 18, 2024, the Federal Reserve announced a 0.25 percentage point reduction in the federal funds rate. However, it also signaled a more cautious approach for 2025, projecting only two additional cuts instead of the previously anticipated four. This hawkish stance has led to tighter liquidity conditions, adversely affecting risk assets, including cryptocurrencies. ļæ¼ 2. Rising Treasury Yields: Following the Federal Reserveās announcement, there was a notable increase in Treasury yields. Higher yields raise the opportunity cost of holding non-yielding assets like Bitcoin, prompting some investors to reduce their crypto holdings in favor of more traditional investments. ļæ¼ 3. Market Sentiment and Profit-Taking: Bitcoin surpassed the $100,000 mark earlier in December 2024, reaching a peak of $108,309 on December 17. This milestone led some long-term holders to realize profits, increasing selling pressure and contributing to the marketās decline. ļæ¼ 4. Broader Economic Indicators: The personal-consumption expenditures (PCE) price index for November rose by 0.1%, keeping the annual rate at 2.4%, above the Federal Reserveās 2% target. This persistent inflation suggests that the central bank may maintain a restrictive monetary policy stance longer than previously expected, which can negatively impact speculative investments like cryptocurrencies. ļæ¼ These combined factors have created a challenging environment for the cryptocurrency market, leading to the recent declines observed across various digital assets.
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