Shiba Inu Gets Closer to Dogecoin’s Market Cap: Can SHIB Flip DOGE?

Memecoins, in general, have seen a meteoric rise over the last week. Shiba Inu (SHIB) has gained several spots in the top 100 rankings and sits just below its rival, Dogecoin (DOGE).

Shiba Inu’s (SHIB) price has rallied by 230% in the weekly charts, 272.1% in the 14-day charts, and almost 300% over the previous month. Dogecoin (DOGE), on the other hand, has rallied 75.5% in the weekly charts, 96.8% in the 14-day charts, and 112.6% over the last month. However, both assets have faced a steep correction in the daily charts. SHIB’s price has fallen 13.3% in 24 hours, while DOGE has dropped 9.7% in the same time frame.

SHIB’s market cap currently stands at $20.3 billion, while DOGE’s is $23.8 billion. SHIB’s market is just about 13% away from DOGE’s. Hence, if the popular meme coin continues its bullish trajectory, it may surpass DOGE in the rankings.

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How high can Bitcoin go? New BTC price prediction sees cycle top at $180K

Bitcoin BTC tickers down $70,842 price could gain another 150% during the current bull market cycle, according to Laurent Benayoun, the CEO of Acheron Trading and quantitative trading strategies expert.

Bitcoin price top at $180K?
The executive anticipates a potential cycle top of $180,000 for BTC price, based on a combination of factors, including the spot Bitcoin exchange-traded funds (ETFs), and the new supply reduction from the upcoming Bitcoin halving.

Benayoun explained:

“If we look at historical performance, with every cycle the multiple on the all-time is getting lower. So if we apply this reasoning it could be 2x to 3x what we saw in the previous cycles, so let's say around $120,000 to $180,000 per unit.”
Improving financial policy in the United States will also contribute to Bitcoin’s price appreciation, according to Benayoun:

“The market is pricing in a reduction in interest rates because they have been flatlining, so it’s reasonable to expect them to go down in the near future.”
Other BTC price predictions
Benayoun’s prediction is in line with several other recent forecasts. Bitfinex analysts, for instance, see price reaching $120,000 by the end of 2024, according to a research report shared with Cointelegraph:

“Our analysis forecasts a conservative price objective of $100,000-$120,000 to be achieved by Q4 2024, and the cycle peak to be achieved sometime in 2025 in terms of total crypto market capitalization. The ETFs have introduced passive demand which means demand is coming from investors that is largely price agnostic.”
Meanwhile, wealth management giant Bernstein expects Bitcoin to break out to around $150,000 following the halving by mid-2025.

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Bitcoin halving will spur ‘surge’ in NFT volume.

Mintable founder Zach Burks said that if the halving boosts user engagement, there would be an uptrend in NFT prices.

As the much-anticipated Bitcoin halving looms closer, professionals working in the nonfungible token (NFT) space anticipate that the crypto milestone will not only affect crypto tokens but may also positively impact the NFT ecosystem.

Oscar Franklin Tan, the chief financial officer of Atlas Development, a core contributor to the NFT platform Enjin, believes that NFT prices will “surge after the halving.” The executive argued that this is part of a known cycle where interest in Bitcoin
BTC tickers down $65,761 spills over other ecosystems like NFTs. Tan said:

“Prices and volumes should eventually surge after the halving as part of the known cycle. Because NFTs are established segments of ecosystems, interest from Bitcoin will spill over into NFTs together with altcoins.”

Zach Burks, the founder of NFT marketplace Mintable, said that while accurately predicting the future growth or adoption of technology is almost impossible, the community can expect an increase in trading volume for NFTs as Bitcoin’s price rises. “If the halving also boosts user engagement, it is reasonable to expect an uptrend in NFT prices.”

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Bitcoin Rally May Slow as Order-Book Imbalance Hints at Profit Taking.

The gap between liquidity on the ask and bid sides of the order book within 2% of the market price has widened to nearly five times is usual value, according to data tracked by Kaiko.

The gap between liquidity on the ask and bid side within 2% of the market price has widened to nearly $100 million, according to data tracked by Kaiko.

The persistent gap likely stems from investors taking profit at record-high prices and market makers' positioning.

Bitcoin's (BTC) price rally may face temporary resistance as the climb to a record high seems to have spurred profit-taking among holders of the largest cryptocurrency by market cap.

That's the message from the imbalance between potential sellers and buyers in bitcoin's aggregated order book across 33 centralized exchanges. The gap between the total dollar value of orders to sell bitcoin, the so-called ask side, and orders to buy, the bid side, within 2% of the market price has widened to nearly $100 million, according to Paris-based Kaiko. That's about five times its usual value.

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XRP Gets Squeezed, Can Ethereum (ETH) Break $4,000? Bitcoin (BTC) Faces Some Issues.

XRP is currently experiencing what we sometimes refer to as a "squeeze." This technical phenomenon occurs when an asset's price consolidates, leading to a battle between buyers and sellers for control of the market direction in a narrow price range.

XRP's squeeze is evident as the price hovers near a convergence of its moving averages, which are pivotal indicators of both support and resistance. The 50-day moving average (orange line) and the 100-day moving average (blue line) converge around the $0.55 to $0.58 range, creating a crucial zone that XRP must hold to maintain a bullish posture. A breach below this level could signal a bearish downturn, as these averages would then act as resistance.XRP USDT Chart by TradingView

The short-term resistance level for XRP is currently found at approximately $0.63. This level has recently thwarted upward moves, and a breakout above could pave the way for more bullish momentum. Conversely, should XRP's price fail to sustain above the moving averages, the next level of support lies near $0.50, where buyers may step in to stabilize the price.

The possibility of a price reversal exists, especially considering the RSI (relative strength index) is hovering in a neutral zone, reflecting uncertainty in the market. A decisive move in either direction, supported by substantial volume, will likely set the tone for XRP's price in the coming days or weeks.

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Tron Founder Justin Sun Fuels Ether Fi with Massive $480M ETH Deposit.

A wallet that is attributed to Justin Sun, the founder of Tron, deposited a deposit of 120,000 Ethereum (ETH), which is worth around $480 million, into the liquid restaking protocol Ether Fi. This deal constitutes a major occurrence for both Justin Sun and the Ether Fi platform, thus solidifying Sun’s involvement in the decentralized finance (DeFi) sector.

Ether Fi Gains Momentum
Ether Fi, a protocol that recently finalized a $23 million funding round, is getting closer to a significant threshold by holding almost $3 billion in total value, according to DefiLlama data. The strategic gestures of the platform, the launch of its token, and the huge $600 million collaboration with the Omni Network demonstrate the growing importance of EigenLayer security measures within the ecosystem as well as the broader DeFi market.

The cornerstone of Ether Fi’s proposition is liquid restaking. This method permits staking ether for yield and potential rewards in the form of loyalty points, which can be converted into token airdrops. This protocol generates eETH, a liquid restaking token that follows the price of Ether and can be used in different DeFi protocols for additional yield.

Justin Sun DeFi Endeavors
This latest investment is yet another display of Justin Sun, the founder of Tron and a widely known figure in the cryptocurrency world, commitment to the DeFi space. Sun’s presence in DeFi is not new; last year, he helped solve a liquidity crisis in Curve Finance by buying CRV tokens worth $2.3 million. Such a move was a result of a difficult situation concerning Curve’s founder, Michael Egorov, and it stressed the proactive attitude Sun has towards helping the DeFi ecosystem.

The Ether Fi deposit started in February, with the wallet moving ether from Binance at a time when the coin was priced near $2,800. After that, the price of ETH rose considerably, and it is being traded at about $3739.

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Join the Revolution: Raffle Coin (RAFF) Phenomenon Attracts Interest from Ethereum (ETH) and Chainlink (LINK) Investors, Amidst Dencun Upgrades.

Things are taking a turn in the world of cryptocurrency, with Raffle Coin (RAFF) now leading the limelight for Ethereum (ETH) and Chainlink (LINK) fans. Built on the background of Dencun upgrades, Raffle Coin (RAFF) is well poised to power a disruptive decentralized raffle experience that promises lucrative rewards from frictionless engagement.

Today, a tide of interest is growing for Raffle Coin (RAFF). Such growth is determined by an innovative approach and commitment to decentralized governance, which makes possibilities by Raffle Coin (RAFF) very inviting for investors to come and take a more in-depth look at. In the paper, we outline in detail the phenomenon of Raffle Coin (RAFF), its features, investor interest and effects on the market of cryptocurrency.

Ethereum (ETH) Faces Selling Pressure Post-Dencun Upgrade
After a successful update on the Dencun front, the Ethereum (ETH) network bore the brunt of heavy selling, driving prices down 7.8%, but alongside an uptick in daily trading volume. Ethereum (ETH) has been relatively weak throughout the week, with the second-largest cryptocurrency by market capitalization sliding through below levels of key support. Transition costs of Ethereum (ETH) 2.0, related to network switches. Ethereum (ETH) is dealing with many challenges and is still looking to go bullish.

Chainlink (LINK) Witnesses Surge in Revenue from Cross-Chain Interoperability Protocol (CCIP)
Chainlink’s Cross-Chain Interoperability Protocol (CCIP) volumes have increased by 180% over the past two months, recording enormous profits. The rise is loud and speaks to the nature of CCIP, which is increasingly being utilized with the integration of top platforms and endorsement from elite voices throughout the crypto space.

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Shiba Inu (SHIB) and Dogecoin (DOGE) Might Push Cardano out of Top: Here's How.

Shiba Inu and Dogecoin could potentially unseat Cardano ADAUSD from its top 10 cryptocurrency ranking. With the CEO of Nanse AI hinting at such a possibility, the markets' communities are clashing again.

A glance at the price charts of SHIB and DOGE shows an undeniable rally. SHIB's chart exhibits a bullish trend with a dramatic vertical climb, breaking past resistance levels with significant volume backing the price movements. This rally has not gone unnoticed, as FOMO triggers a flurry of investor interest, potentially driving prices even higher. SHIBUSDT Chart by TradingView.

Dogecoin's chart reflects a similar trajectory, with the price ascending sharply and maintaining its strength above the moving averages. The 50-day moving average has been a strong support level, which could fuel further price gains if the positive momentum continues. Both charts signify the "unstoppable growth" sentiment that meme coins have managed to capture.

The surging popularity of meme coins is largely driven by community support and social media buzz rather than fundamental value, which differentiates them from projects like Cardano, known for its strong technological foundations and DeFi aspirations. Despite this, the DeFi community's skepticism toward Cardano's performance and the criticism from Nansen and others might play into the market dynamics favoring meme coins.

As meme coins rally, powered by virality and community hype, there is a nonzero chance that they could surpass Cardano's market cap, especially if the current growth trajectory continues. While this prospect may alarm some investors and delight others, it is essential to recognize the volatile and often unpredictable nature of meme coin movements, which can be as rapid in their decline as they are in their ascent.

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Cryptos to Buy This Month: High ROI Potential for BNB, Tron, and Scorpion Casino.
the next big crypto investment, exploring the potential of BNB (BNB), Tron (TRX), and the Scorpion Casino (SCORP) presale can be a lucrative venture into the world of digital assets. Let’s delve into each of these options to uncover their passive income potential and why they stand out in the current market.

BNB: Powering the Binance Ecosystem
BNB, the native cryptocurrency of the Binance exchange, has established itself as a formidable player in the crypto space. This versatile token not only fuels transactions on the Binance platform but also offers a range of utilities within the ecosystem. From discounted trading fees to participation in token sales, BNB holders enjoy various benefits.

One of the key attractions of BNB is its potential for passive income through staking. By participating in Binance’s staking program, users can earn rewards simply by holding BNB in their wallets. With the continuous growth of the Binance ecosystem, the demand for BNB is expected to rise, making it a promising investment for those seeking long-term gains.

Tron: Pushing the Boundaries of Blockchain
Tron is another cryptocurrency that has been making moves with its ambitious projects and strong community support. Known for its high throughput and scalability, the Tron network has become a hub for decentralized applications (DApps) and smart contracts.

Investors interested in passive income opportunities can participate in Tron’s staking program, where they can earn TRX rewards for securing the network. Additionally, Tron’s partnerships and developments in the DeFi sector further enhance its appeal as a promising investment option.

Scorpion Casino: The Future of Gaming and Finance
Now, let’s turn our attention to Scorpion Casino, a project that operates like a cryptocurrency presale and promises exciting opportunities for investors.

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Bitcoin 5% flash crash leads to $165M in leveraged crypto liquidations.

A sudden 5% drawdown in the price of Bitcoin
BTC tickers down $66,157 on Tuesday has seen traders with leveraged exposure to Bitcoin and other cryptocurrencies rack up over $165 million in losses in less than two hours.

Bitcoin plunged 5% from $69,450 to as low as $65,970 in less than 30 minutes in early hours on March 2 UTC, per TradingView data.

According to data from Coinglass, Bitcoin’s sharp wick down saw more than $165 million in leveraged positions wiped out, with just over $50 million in Bitcoin longs and more than $40 million in Ether
ETH tickers down $3,338 longs accounting for the bulk of that figure.

Roughly $6 million in long positions on Dogecoin
DOGE tickers down
$0.18 and $4 million in Solana’s SOL
SOL tickers down $182 were liquidated, trailing BTC and ETH.

Around the same time as the drawdown, Bitcoin exchange-traded funds (ETFs) posted a net outflow of $86 million, breaking a four-day positive inflow streak, per FarSide data.

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Bitcoin Breakout Halts as U.S. Inflation Data Looms

Bitcoin (BTC) dropped 3% in the past 24 hours, invalidating a bullish breakout, ahead of the release of U.S. inflation data that could dictate when the Federal Reserve (Fed) starts cutting interest rates.

The leading cryptocurrency by market value slipped back into a triangular consolidation pattern identified by trendlines connecting March 15 and March 27 highs and March 20 and April 3 lows. The symmetrical triangle consolidation had ended with a bullish breakout early this week, opening doors for a rally to $80,000.

Failed breakouts often result in short-term traders closing or reversing bullish bets in anticipation of a steeper price decline. Still, Markus Thielen, founder of 10x Research, cautions investors against reading too much into Bitcoin’s bull failure.

“Bitcoin’s failed breakout likely represents nervousness ahead of the U.S. CPI release. I would not write it off yet,” Thielen told CoinDesk in a Telegram chat.

Thielen added that Wall Street’s tech-heavy index, Nasdaq, rose Tuesday, offering positive cues to bitcoin and other risk assets. In other words, bitcoin’s dip could be short-lived. The cryptocurrency closely follows trends in the Nasdaq and the Nasdaq-to-S&P 500 ratio.

The Bureau of Labor Statistics is set to release March 2024 CPI data on Wednesday at 08:30 ET (12:30 UTC).

The consensus is that the consumer price index, a measure of cost of living, has increased by 3.5% since March 2023, accelerating from February’s 3.2% annual inflation rate, according to economists polled by the Wall Street Journal. The monthly pace is forecast to have eased to 0.3% from February’s 0.4% rate.

Similarly, the monthly pace in core inflation, which strips out the volatile food and energy component, is forecast to have slowed to 0.3% in March, following February’s 0.4% gain, equating to a 12-month decline to 3.7% from 3.8%.

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Trader Known For Calling Bitcoin Bottoms Predicts New All-Time Highs For BTC, Updates Outlook On Dogecoin Rival.

A trader who nailed the 2018 Bitcoin bear market bottom believes that the most recent correction has put BTC in a position to rally to a new all-time high.

Top analyst Bluntz tells his 255,000 followers on the social media platform X that Bitcoin appears to have printed a local bottom after completing an ABC corrective wave on the four-hour chart.

The trader uses Elliott Wave theory, which states that a bullish asset often witnesses a fresh leg up after an three-part ABC correction.

Looking at the trader’s chart, he appears to suggest that BTC will rally to a fresh record high of $82,228.

At time of writing, BTC is worth $63,535.

The trader is also keeping a close watch on the movements of memecoin dogwifhat (WIF). The analyst says that WIF may have printed a local bottom at around $1.80 but notes that more price action is needed to confirm his analysis.

“$1.80 hit and wicked straight into the 0.618 [Fibonacci level] on WIF. Promising reaction so far, hoping this is the low, but will wait for an impulsive five-wave rise on low timeframes i.e. 30 minutes to one hour for confirmation.”

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Ethereum Price Follows Bitcoin Surge, Why $4K Is Just A Matter of Time.

Ethereum price is pumping above the $3,550 resistance. ETH is following Bitcoin and might soon rally toward the $4,000 resistance zone.

•Ethereum is gaining pace above the $3,550 resistance zone.

•The price is trading above $3,650 and the 100-hourly Simple Moving Average.

•There is a connecting bullish trend line forming with support at $3,600 on the hourly chart of ETH/USD (data feed via Kraken).

•The pair seems to be setting up for a move toward the $3,850 and $4,000 levels.

Ethereum Price Starts Fresh Surge

Ethereum price extended its rally above the $3,500 level, like Bitcoin. BTC surged and even spiked above the $68,000 level. ETH is showing signs of strength and surging above the $3,650 level.

There was a clear move above the $3,700 level. A new multi-month high is formed at $3,715 and the price is now consolidating gains. It is trading above the 23.6% Fib retracement level of the upward move from the $3,465 swing low to the $3,715 high.

Ethereum is now trading above $3,650 and the 100-hourly Simple Moving Average. There is also a connecting bullish trend line forming with support at $3,600 on the hourly chart of ETH/USD. The trend line is close to the 50% Fib retracement level of the upward move from the $3,465 swing low to the $3,715 high.

Immediate resistance on the upside is near the $3,720 level. The first major resistance is near the $3,780 level. The next major resistance is near $3,850, above which the price might gain bullish momentum. The next stop for the bulls could be near the $3,920 level.

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SOLANA Comes Roaring to Life as DEX Trading Volumes Rocket and Ecosystem Tokens Soar.

Solana has made a resounding comeback, with its decentralized exchange (DEX) trading volumes and ecosystem tokens experiencing significant growth — including nearly $1.5 billion in trading volume on DEXs in one day

The blockchain, known for its speed and efficiency, has become the largest in terms of DEX volume, surpassing popular networks like Binance Smart Chain and Ethereum.

The rise in DEX trading volume coincides with a surge in the broader Solana network, with ecosystem tokens gaining an average of 13% over the past day, according to data from CoinMarketCap.

Solana DEXes recorded over $1.4 billion in trading volume over the past day, dominating the list. The remarkable trend continued throughout the week, with the total weekly volume skyrocketing to $11.9 billion, according to DeFi TVL aggregator DeFiLlama.

Solana DEXes have even seen close to $3bn days in March — compared to a range of between $500m and $900m in January.

Other popular chains, including Binance Smart Chain and Ethereum, which itself has just gone through a massive ‘Dencun’ upgrade, have trailed behind Solana in terms of DEX trading volume. BSC has commanded $1.139 billion in trading over the past day, while Ethereum saw $514.65m in volume.

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Cryptocurrency prices today: Check rates of Bitcoin, Ethereum, Dogecoin, Solana.

Bitcoin has lost 0.36% in the last 24 hours, trading at $66,156.36. It is 6.06% down compared to last week.
The second most popular token, Ethereum, has dropped 1.31% from yesterday to trade at $3,309.85. It has fallen 8.10% from last week.
Bitcoin and Ethereum have a market capitalization of $1,301 billion and $402.49 billion, respectively.

BNB is currently trading at $555.94, down 0.31% from yesterday and 3.93% from last week.
XRP's price today is $0.55 after falling down 1.44% in the last 24 hours. Compared to last week, it is 7.06% down.
Cardano and Dogecoin are trading at $0.55 (down 1.20%) and $0.11 (down 0.25%), respectively.

Solana has gained 3.3% today
Solana, Polka Dot, Shiba Inu, and Polygon are currently trading at $188.33 (up 3.31%), $8.66 (down 0.11%), $0.000022 (up 1.16%), and $0.99 (flat), respectively.
Looking at the weekly chart, Solana is 0.33% down while Polka Dot has slipped 10.54%.
In the past week, Shiba Inu's value has decreased by 13.1% whereas Polygon has lost 13.21%.

Looking at the 24 hourly movement, the top five gainers are Ethena, Bitget Token, Flare, BOOK OF MEME, and Internet Computer. They are trading at $0.88 (up 17.28%), $1.19 (up 10.22%), $0.033 (up 9.07%), $0.011 (up 8.83%), and $18.22 (up 8.63%), respectively.

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