Die Organisationsform der DeFi-Branche könnte sich 2022 immer mehr in Richtung DAOs entwickeln, um den möglichen Auswirkungen einer Überregulierung entgegenzuwirken.
Sell of risks for Ripple (XRP) continue to build – Here is why the coin could hit $0.6
After reporting some significant gains at the start of February, Ripple (XRP) has seen a period of price retracement that has given bears the upper hand. This selling pressure continues, and while the coin has stabilised above the $0.7 mark, there is still a huge sell-off risk. Here are some notable highlights:
-
At press time, Ripple (XRP) was trading at $0.7773, virtually unchanged in 24 hours.
-
XRP has found strong support at $0.7 over the last few days.
-
However, selling pressure could bring the token back to $0.6 in the near term.
Data Source: Tradingview
Ripple (XRP) – Price action and analysis
After seeing a decent climb in February, Ripple (XRP) is now reporting some selling pressure as investors lock in profits. Despite this, the coin has found very strong support around the $0.7 mark.
In fact, at the time of writing this post, XRP was trading slightly above that threshold with a price of $0.77. The goal for bulls is to hold the price action above this mark. But there is a huge sell-off risk here.
We expect bears to breach the $0.7 support and push the coin back towards $0.67 in the coming days. This will represent a drop of about 17% or thereabout. Ripple bulls will try to find sufficient demand at $0.6, but we may see further weakness with systemic risks in the broader crypto market due to tensions in Eastern Europe.
Is Ripple (XRP) ripe for investment?
Ranked among the top ten most valued crypto assets in the world, Ripple (XRP) has always been ripe for purchase. There is however some ongoing litigation between the coin and the SEC.
This could pose major risks for short-term buyers. It would be best to see how the lawsuit progresses in the coming weeks before going all-in with XRP.
The post Sell of risks for Ripple (XRP) continue to build – Here is why the coin could hit $0.6 appeared first on Coin Journal.
Shiba Inu (SHIB) could swing up by 16% despite some significant sell-off in recent days
The crypto market has slowed a bit over the last few days. Meme coins, as you would expect have taken a hit. In fact, Shiba Inu (SHIB), one of the main meme coins in the market, has seen a mini sell-off of sorts. But it’s not all gloomy for SHIB holders. A look at the chart shows a possible immediate bounce back. Here are some highlights:
-
Shiba Inu has exploded in February, at one point gaining nearly 75% in 3 days.
-
The much-expected correction however appears to have come with SHIB selling in recent days.
-
Technical indicators however show a quick bounce with an upside of at least 16% is possible.
Data Source: Tradingview
Shiba Inu (SHIB) – Price prediction and analysis
Shiba Inu (SHIB) is right now trading at the confluence of two important indicators. These are the 50 day and the 200-day simple moving averages. In recent weeks, the confluence has proved to be a very strong demand zone for bulls.
We have seen very significant buying activity between $0.000027 and $0.0000288. At press time, the coin was trading at $0.00002716. Although SHIB is indeed down by around 7% over the last 24 hours, it means the price has entered this crucial demand zone.
We expect bulls to step up and buy in the coming days, something that will ultimately push SHIB further. As a result, an upside of around 16% is very possible.
Why are people buying Shiba Inu (SHIB)
Shiba Inu (SHIB), often referred to as the DogeCoin killer, is by far one of the most successful meme coins in history.
Although the token has declined significantly from its all-time highs in 2021, there is still a lot of potential for further growth. Besides, we have seen SHIB whales accumulating more and more SHIB. From a short-term point of view, the meme coin is indeed worth buying right now.
The post Shiba Inu (SHIB) could swing up by 16% despite some significant sell-off in recent days appeared first on Coin Journal.
US Billionaire Mark Cuban remains bullish on Polygon (MATIC) despite recent price weakness – here is why
US billionaire and entrepreneur Mark Cuban has remained bullish on Polygon (MATIC) even as the altcoin reported some price weakness in recent days. Cuban believes that in 2022, Polygon will outperform Bitcoin and Ethereum in growth. But despite this, we have seen some bearish trends in MATIC over the last week or so. Here are some highlights:
-
MATIC is currently trading at $1.58, down by about 5% in the last 24 hours.
-
The coin has been on a downward trend in the last week.
-
Price weakness could get worse for Polygon (MATIC) due to the geopolitical crisis in Europe.
Data Source: Tradingview
Polygon (MATIC) – The long-term picture
Investors like Mike Cuban typically look at the long-term prospects of a coin and not the short-term ones. Yes, MATIC has seen some negative price action in recent days. In fact, the coin has actually struggled to cross over the $2 mark and is likely to face further weakness in the coming weeks.
But the long-term fundamentals for Polygon are impeccable. We are also starting to see a lot of institutional money going into MATIC. This is the long-term picture Cuban is talking about.
The billionaire sees Polygon as the most important Ethereum scaling solution with outstanding potential. Also, the 2022 outlook for MATIC is quite positive. Some prediction even shows that MATIC could in fact hit $100 by 2025.
Why you should buy Polygon (MATIC)
As noted above, the fundamentals for Polygon (MATIC) are simply amazing. The project has been making major moves, including building its ecosystem to take advantage of the growing NFT craze and crypto-related gaming.
Polygon has the potential to become as huge as Ethereum. The fact that it is trading at $1.5 is a sure sign that it is time to get in. This coin could blow up very fast in the near future.
The post US Billionaire Mark Cuban remains bullish on Polygon (MATIC) despite recent price weakness – here is why appeared first on Coin Journal.
Huobi opens deposits for BabyDoge Coin (BabyDoge) – The coin surges by nearly 13%
Huobi has announced that it is now offering support for BabyDoge Coin (BabyDoge). Huobi users will now be able to buy and sell the meme coin in what is one of the largest exchanges in the world. This is a huge development for BabyDoge Coin and here is why.
-
The meme coins surged by nearly 14% after the news broke.
-
BabyDoge has also reported increased adoptions in recent months.
-
The listing opens the door for other exchanges to do the same.
Data Source: Tradingview
BabyDoge Coin (BabyDoge) – Where does it go from here
The moment coins start to get listed in major exchange platforms like Huobi; then you can expect some positive movements in the price. When news of the listing broke, BabyDoge in fact rose by nearly 13%. The coin continues to climb even further. At press time, it had added an additional 6% in value over the last 24 hours.
Besides, Huobi is a huge exchange. The fact that it’s providing support for the meme coin means that other major exchanges will follow. We have also seen a lot of social media buzz around this coin.
Just recently, BabyDoge surged above 1 million followers on Twitter. It was also among the most purchased coins by 1000 of the biggest whales on the BSC chain. There is something cooking here no doubt, and it’s just a matter of time before it explodes.
Should you buy BabyDoge?
Well, meme coins can make you rich very fast, but they carry a lot of risks. Remember these are basically speculative assets that rarely have any significant underlying fundamentals.
But as of now, BabyDoge looks like the hottest meme coin right now. We expect the coin to surge further as more exchange listings come in the near term. For this reason, it is a decent buy at this point in time.
The post Huobi opens deposits for BabyDoge Coin (BabyDoge) – The coin surges by nearly 13% appeared first on Coin Journal.