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How Did Shiba Inu, Which Made Its Investors Millionaires Overnight and Poor Overnight, Achieve This?

Shiba Inu, which entered the market in 2020, attracted attention and managed to go viral, especially on platforms such as Reddit and X.

No one expected the value of Shiba Inu, a type of meme coin, to increase so much that it would be the subject of this content...

Shiba Inu, which initially had a low value, began to become popular quickly both because it was inspired by the success of Dogecoin and because it used meme culture.

The biggest driving forces that brought Shiba Inu to success were meme culture and the incredible power of social media.

Considering that one of the most important ways for certain projects to reach a large audience in the cryptocurrency world is to go viral on platforms like Reddit, the reason behind the rapid popularity of the Shiba Inu seems clear.

While the value of SHIB was almost negligible in January 2021, it increased by more than 2,000% in May 2021.

This rise allowed early investors to make incredible profits and some people to become millionaires overnight.

Stories of those who made big profits with small investments in particular received widespread media coverage.

For example, it was reported that a $ 1,000 investment turned into millions of dollars in a few months.
After its rapid rise in 2021, the Shiba Inu experienced a major decline, causing many investors who bought a large amount of Shiba Inu to be left with huge losses.

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John Bollinger drew attention to the bullish formation in Bitcoin
According to John Bollinger, the doyen of technical analysis, the W formation in the Bitcoin chart indicates an increase.

Analyst John Bollinger, known for developing the technical analysis tool called “Bollinger Bands”, which is widely used in the stock market world, believes that an increase in Bitcoin is imminent.

Bollinger, who stated that a W formation was formed in the weekly Bitcoin chart, stated that this was a sign of an uptrend. Bollinger commented, “There is a nice W formation in the weekly BTC/USD chart. I drew a regression channel to highlight the flag that is forming. This is a bullish formation, but I am waiting for confirmation.”

The W formation is a graphical model used in technical analysis. This formation is generally known as a trend reversal signal that shows that the price will exit the downtrend and start to rise. Its shape resembles the letter W.

Bitcoin moved upwards after the Fed cut interest rates by 50 basis points. The number one cryptocurrency, which fell to $57,000 during the week, is trading above $63,000 today.

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Friends, friends who do futures trading. No one should exceed 3x in futures trading, you will lose your labor. No one wins in gambling. Why is gambling bad, why is it forbidden? Because it is forbidden so that you do not lose your sweat to scammers.
Some accounts advertise the money they earn in futures trading every day, they appeal to you, they draw you into this business, they say I used to lose a lot, now I win, they are all traps. Block these guys, let your own feelings develop, do not be greedy. Do not open random transactions, be patient.
Make 1000 dollars in futures trading 2x, wait, when you become 2000 thousand dollars, take a risk with the money you earn. Do not risk your own money
The guy enters 700 thousand dollars and gets 1000 dollars. and he advertises saying he won.
You all earn 1 dollar for 70 dollars in every transaction.

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Bitcoin dominance reached 58 percent after 3.5 years: Is it a wake-up call for altcoins?

Bitcoin dominance, which is closely followed for possible increases in altcoins in particular, reached 58 percent for the first time in 3.5 years.
Bitcoin dominance, which shows Bitcoin's share in the total market value of cryptocurrencies, reached its highest level since April 2021. Dominance, which has been moving between 56.8 percent and 57.7 percent for weeks, reached 58 percent today for the first time in 3.5 years.
This data is closely monitored to understand when strong movements will begin, especially in altcoins. Because the periods when dominance peaks and begins to decline historically coincide with the beginning of bull markets in altcoins.

Some analysts believe that the dominance, which has risen to 58 percent, is now very close to its peak. MN Consultancy founder Michael van de Poppe predicts that the dominance is in the region where the bear market in altcoins will end. Emphasizing that everything depends on ETH, the analyst commented, “Considering the current climate, it seems like we are close.”

While Bitcoin dominance continues to rise, the ETH/BTC parity has also fallen to its lowest level in 3.5 years. The parity, which has been in a steady decline since September 2022, fell below 0.04 after years today and saw 0.03955. Ethereum had abandoned the Proof of Work (POW) mechanism in September 2022 and switched to Proof of Stake (POS). Ether has lost 53 percent of its value against Bitcoin since this update called “Merge.”

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Ripple CEO thinks XRP rally is imminent

Investing.com - Ripple CEO Brad Garlinghouse has been extremely positive about the developments regarding Grayscale's XRP investment fund issuance.

The rapid spread of news yesterday that crypto asset manager Grayscale would launch an XRP-focused investment fund, followed by the company's announcement of plans to convert this investment vehicle into a spot ETF in the future, has resonated on the cryptocurrency front.

Ripple CEO commented on it as an unexpected development
XRP made a significant leap forward after the Grayscale news and stood out among major cryptocurrencies. Garlinghouse, on the other hand, could not hide his surprise for the US's first XRP-focused investment fund in his comment on X. Ripple CEO continued his comment by saying that this development is important evidence that XRP has gained regulatory clarity in the US and other jurisdictions. It is thought that XRP gaining regulatory clarity will contribute to the growth of the entire ecosystem. In this context, Garlinghouse said that XRP's growth is only a matter of time.

Ripple took a deep breath after the decision that individual sales of XRP were not considered securities in its legal battle with the SEC last year. Although the lawsuit process continues regarding institutional sales, XRP adoption continued to increase during this process.
However, this adoption has not yet been reflected in the price of XRP. Still, it is thought that XRP may find a certain ground after Grayscale's XRP investment fund trading begins. However, the general view is that XRP's future will be shaped by the outcome of the lawsuit with the SEC.

What do experts think about the XRP price?
While many analysts think that there are various catalysts for the price increase in XRP, they share the view that the cryptocurrency may start an uptrend in 2025.

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What will the Fed do after the inflation data: It has fallen to an unprecedented level
The fact that the inflation figures announced in the US have come in at the expected level has also seriously increased the expectation of a 25 basis point cut in the markets. The expectation rate of a 50 basis point cut has fallen to an unprecedented level in the recent period and has dropped to 17% in the CME.

The inflation data for August in the US came in line with expectations. This situation has ensured that the economy has cooled sufficiently and the possibility of a recession is distant. In addition, inflation in the US has fallen for the last 5 months in a row.

The 25 basis point rate has increased to 83%
In the CME Fed Watch Tool, where the Fed's interest rate decision expectation is priced in the futures markets, the expectation of a 25 basis point cut from the interest rate meeting on September 18 has increased to 83%. The expectation of a 50 basis point reduction has fallen to an unprecedented level and has dropped to 17%.

Bitcoin price did not move
It was also noteworthy that there was almost no change in the Bitcoin price after the announcement of the inflation data. The largest cryptocurrency is trading at $56,600 at the time the news was written.
Paul Ashworth, an analyst at Capital Economics, said in a client note he shared while he was hot, “We think the Fed will start its interest rate reduction policy with a 25 basis point reduction. Core inflation coming in at 3.2 percent is a high level… This was due to the 5.2% increase in housing costs.”

Citi says, “First 25, then 2 50”

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1.7 billion dollars worth of Bitcoin changed hands in 3 days, reserves returned to 2018
Bitcoin miners sold 30 thousand BTC in the last three days. The amount of BTC on cryptocurrency exchanges also decreased to the level of November 2018. On the other hand, stablecoin reserves are increasing.

While Bitcoin fluctuated between $53 thousand and $58 thousand, miners sold at a speed not seen recently. According to the data provided by Santiment, the BTCs held by Bitcoin miners decreased from approximately 2.17 million to 2.14 million since August 8. In other words, 30 thousand BTC (approximately $1.7 billion) changed hands.

Exchange reserves are at the level of November 2018

On the other hand, the amount of Bitcoin held on cryptocurrency exchanges has also decreased significantly in recent days. This amount, which was 2 million 627 thousand, has decreased to 2 million 588 thousand as of today. Thus, the number of BTCs withdrawn from exchanges since September 8 has reached 40 thousand (approximately 2 billion 250 million dollars). In addition, the last time the number of BTCs on exchanges was this low was in November 2018.

The decrease in exchange reserves is considered an upward signal. This means that investors tend to hold Bitcoin for the long term. Therefore, while the supply in circulation is also decreasing, this creates the potential for upward pressure on the price.

Stablecoin reserves are also increasing
While Bitcoin reserves on exchanges are decreasing, stablecoin reserves ready for purchase are increasing. USDT ERC-20 reserves, which were 22 billion dollars last week, increased by another 200 million dollars to 22.2 billion dollars. USDC ERC-20 reserves increased by 800 million dollars in the same period.

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Fed estimates intensify: 50 basis points seriously on the table
While financial markets eagerly await the decision to be made at the Fed’s September 18 meeting, an important comment came from the CEO of California-based asset management company Destination Wealth Management (DWM). CEO Michael Yoshikami said that the possibility of a 50 basis point cut is still on the table and that the Fed has many logical reasons to make this cut.

While it is almost certain that the US Federal Reserve (Fed) will make an interest rate cut decision at the FOMC meeting on September 17-18, Destination Wealth Management (DWM) CEO Michael Yoshikami made a much-talked-about claim on the subject. According to CNBC, the CEO stated that the Fed is still keeping the 50 basis point cut on the table and said, “I don’t see the possibility of a recession. There will be a soft landing. The Fed can easily make a 50 basis point cut for this reason.”

I wouldn’t be surprised at all if it came by 50 basis points”
Michael Yoshikami, who stated that there were logical and serious reasons for the Fed to make a 50 basis point cut, recently stated that he also did not expect a 50 basis point cut at the first meeting, but his opinion changed with the incoming labor market figures:

“Investors should not worry too much about the declines last week. This was an exception. As a company, we were initially considering 3 25 basis point cuts, but right now, we would not be surprised if a direct 50 basis point cut came. Look at the numbers. Corporate earnings are good and the unemployment rate is among the lowest in history… Therefore, I also see a 50 basis point cut as reasonable, this option is still very much on the table…”

“The biggest indicator of a soft landing is salaries…”
Yoshikami, who also stated that he does not expect a recession and therefore a hard landing, said that although the labor force figures have fallen, they are “not too bad” and that he also expects a soft landing:

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CryptoQuant CEO: There is no bubble yet, in fact we are back to the pre-ETF period
Bitcoin, which rose to $73,000 in March, could not show the expected upward movement later, while CryptoQuant CEO Ki Young Ju said that he expects the bull season to continue with increases, especially in the 4th quarter. Young Ju said, "Demand in the US should increase again. We are still in the middle of the cycle, the influx of small investors has not started yet, a bubble has not formed."

While it is considered certain that the Federal Reserve (Fed) will officially start interest rate cuts on September 18 in the US, cryptocurrency and stock investors have also entered into an expectation of an increase...
“4. “It starts in the 4th quarter”
Ki Young Ju, CEO of on-chain analytics platform CryptoQuant, also tweeted that he expects the rise to start in the 4th quarter and that he still has not seen an influx of small investors:

“Bitcoin spot trading dominance on Coinbase has returned to the period before spot ETFs were accepted. I think the bull season will continue. However, for this to happen, US demand needs to increase. I expect demand to increase in the 4th quarter. Of course, I could be wrong. We are in the middle of the cycle right now and the small investor bubble has not formed yet.”

As it will be remembered, Bitcoin broke its historical record with $73,000 on March 13, but it entered a serious decline and consolidation process after the halving. The largest cryptocurrency also fell to $50,000 in situations such as Israel-Iran tensions, Trump assassination attempt and the surprise interest rate hike of the Bank of Japan.

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Hayes, who warned of $50,000 for Bitcoin, closed his short position
BitMEX founder Arthur Hayes, who recently warned that Bitcoin could fall below $50,000, announced that he closed his short position.

Arthur Hayes, one of the billionaire founders of BitMEX, wrote that he closed his short position in Bitcoin. Hayes, who stated that he made a 3 percent profit from his position, stated that Bitcoin could gain upward momentum due to expectations that dollar liquidity would increase.

Hayes also drew attention to the statement made by US Treasury Secretary Janet Yellen yesterday that things were going well in the economy and that a soft landing had been achieved. Yellen said, “It was truly incredible to be able to meaningfully reduce inflation while maintaining strong growth. This is what many call a soft landing.”

Hayes had recently written that Bitcoin could fall below $50,000 and that he had opened a short position accordingly. The BitMEX founder, who has apparently given up on this idea, said, “Bitcoin is under great pressure. It is moving slowly. I opened a trade for the weekend at a price below $50,000. A risky and tactless short position. Pray for me. I am a risk-taking degen.” Bitcoin fell to $52,550 on Friday and rose to $54,770 today.

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Critical junction in Bitcoin: “Eerily similar to 2019”
Financial analyst Julien Bittel stated that Bitcoin’s price action this year is largely similar to 2019, and said, “The next week will be extremely important.” Bittel commented, “If this fractal continues, we could see a serious upward movement.”

Former asset manager and financial analyst Julien Bittel suggested that Bitcoin’s price structure this year is starting to look “eerily” similar to 2019. Sharing the chart below, Bittel emphasized that the number one cryptocurrency’s movements in 2024 are very close to 2019.

The analyst said, “Bitcoin is stuck in a consolidation process and interestingly, just like in 2019, this consolidation has lasted exactly 175 days so far.”

If the fractal continues, a serious rise can be seen”
According to Bittel, Bitcoin is now approaching a critical junction where big movements can be seen. “It will be extremely important to monitor the next week,” said Bittel, and continued:

“All eyes are on how Bitcoin will react when we reach this turning point. Will it follow the 2019 scenario or will there be a deviation this time? We will wait and see. If this fractal continues, we may face serious upward momentum.”

After falling sharply to $52,550 yesterday, Bitcoin is trading above $54,000 today. The cryptocurrency is finding buyers at $54,300 as of 23:15 TSI.

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Why is Bitcoin falling? $55,280 was seen
Bitcoin fell below $56,000 on Friday, when markets focused on two data to be announced in the US. With Bitcoin falling to $55,280, the 30-year US bond yield also fell. This situation shows that the market is avoiding risky assets.

Non-farm employment and unemployment data will be announced in the US today. The fall in the markets hours before these two data, which are expected to have a direct impact on the Fed's interest rate decision, does not go unnoticed. The Bitcoin price fell to $55,280. At the same time, it seems that interest in bonds, which are seen as safe havens, has also increased.

Will the data not come as the markets expect?
As is known, markets can sometimes pre-price before some critical data announcements. Therefore, this decline may be a sign that non-farm employment and unemployment data will not come as expected, and will not be low enough to create fear. Therefore, the possibility of the Fed increasing interest rates by 25 basis points instead of 50 on September 18 may increase. This may of course have caused a decrease in prices.

Bonds appreciated, yields dropped to range levels
While Bitcoin and other risky assets experienced declines, there was also an increase in US 30-year Treasury bonds. The yield on the 30-year US Treasury bond fell by 2.5 basis points to 3.994%. This rate was last seen in December 2023.

The decrease in bond yields indicates that bond prices are increasing and markets are fleeing to safe havens. It is known that such situations are more common in countries where there is economic uncertainty and fears of recession.

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The market is upside down: Major decline in Bitcoin and altcoins
Bitcoin saw $58,000 with a sharp decline during the night. Altcoins experienced deeper losses in value. Bloomberg ETF analyst James Seyffart wrote that he likened the price action in Bitcoin in the last six months to the period between mid-2019 and early 2020.

Bitcoin, which rose above $63,000 today, fell to $58,000 with a sharp decline during the night. As always, altcoins followed the decline in Bitcoin.

Fed Chair Jerome Powell's statements on Friday had created an extremely positive atmosphere in the cryptocurrency market. Bitcoin rose to $65,000, while altcoins saw stronger price increases. Now, things have turned around. In the derivatives market, more than 85,000 investors' positions totaling more than $300 million were closed at a loss.

"Bitcoin reminded us of the period in 2019"
The reason for the decline in Bitcoin is not yet known. On the other hand, Bloomberg ETF analyst James Seyffart wrote that Bitcoin has been moving in the range of $50,000 to $70,000 in the last six months, and that this movement reminds us of the period from mid-2019 to early 2020. Bitcoin was moving in the range of $7,000 to $10,000 during that period. Seyffart added, "I know that past movements should not be equated with current conditions."
The total market value of cryptocurrencies decreased from $2.22 trillion to $2.05 trillion. The biggest value losses in the top 100 cryptocurrencies in terms of market value were in WIF, ENS and JUP. These cryptocurrencies lost 12 percent, 10.5 percent and 10 percent, respectively.

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Everything is part of the game.

The traders and commentators here, the crypto experts, don't actually know anything, they serve the information they receive. They are given the opportunity to win, those who earn millions don't come and write here, they don't think hard.
There is a great manipulation. They are scamming everyone, there is a great profit margin. All the money gives life to the sinking American market.
We are all players in this game. Use your mind, stay calm, don't lose more money after the money that is gone. Win, take what you earn, play with their money.
There was a war, the world collapsed, Luna collapsed, these are all calculated and planned traps.
Be careful, don't get carried away, enter this business with a small capital and do good research

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The search for stability in the market: How did altcoins enter the new week?

We have left behind a week in which global markets showed their strength.

Global markets are showing a strong performance in this process where we are experiencing the last days of summer.

On Friday, Fed Chairman Jerome Powell made important statements at the Jackson Hole symposium.

Powell stated that it is time to change monetary policy and signaled that the Fed may start cutting interest rates in September.

Powell did not give any clues about the size of the interest rate cut in his speech.

Market expectations are that the Fed will cut interest rates by 25 basis points in September.

According to FedWatch data, the probability of the Fed cutting interest rates by 25 basis points is currently over 60 percent.

A 50 basis point cut is still on the table.

The Fed will announce its interest rate decision on September 18, 2024.

Bitcoin is moving within a descending widening wedge
Despite many chaotic developments in recent months, Bitcoin has not closed below $60,000 monthly since February.

Based on monthly closings, the lowest value it has seen in this process is $60,600. A monthly closing below this level has not been seen since February.

If Bitcoin closes August above the $60-60,600 region, we can say that it has survived this terrible summer season in terms of news flow.

Bitcoin made a strong weekly closing days before the monthly closing.

It also closed above the $58-60,000 range, which we call the blue zone, in the weekly time frame.

Bitcoin continues to move within a descending widening wedge. A weekly closing above $70,000 will also mean an upward break of this region.

There is a positive trend, we will experience a period in which the blue zone becomes potential support again.

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Take notes these will be the stars of the bull.

fet
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watch these carefully

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new account openers
Would you like to earn $100 with Binance?!
First of all, you must have never used or activated your futures transactions.
You can make transactions by transferring from the spot wallet to the futures wallet from the transfer section of the application.
Those who open an account for the first time or open a new account can earn $100 by entering my reference code.

reference code: CPA_00NL5CWUL8
This chance is only valid for the first user

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Would you like to earn $100 with Binance?!
First of all, you must not have used or activated your futures transactions.
After answering the questions, you can make a transaction by transferring from the spot wallet to the futures wallet from the transfer section of the application.
Those who open an account for the first time or open a new account can earn $100 by entering my reference code.
reference code: CPA_00NL5CWUL8

This chance is only valid for the first user