Kategorie: Altcoin News

Shiba Inu (SHIB) has enjoyed a period of rallying as the broader market saw gains in the last week or so. But even as bulls try to get the coin up and up, they have had to face several major resistance zones in the process. But SHIB could swing up by 20% in the near term. Here are the latest facts on the price action:

• Bullish run for SHIB is facing major resistance at $0.0000273

• The coin has tested that price in the last few days but has failed to overcome

• SHIB could rise by another 20% if indeed that zone is breached in the coming days.

Data Source: Tradingview 

Shiba Inu (SHIB) – Price analysis and prediction

After showing a lot of weakness at the start of March, Shiba Inu and most meme coins have all rallied. The coin has now managed to pair up some of the losses made this year and is already above its 20- and 50-day exponential moving averages. 

Despite the recent uptrend, SHIB has faced major resistance at $0.0000273. Bulls have tested the price several times in the last two trading sessions but so far it has not been breached. 

However, looking at other momentum indicators, it is likely that the overhead resistance will break. When this happens, SHIB could surge by over 20%. But if bulls somehow fail to get over that price, the token could fall back to $0.0000231.

Is Shiba Inu (SHIB) ideal for buying?

There is a short-term play here with the $0.0000273 resistance. If the price action goes above that, you can expect a swing of at least 20%, so it will be a good time to buy. 

As for long-term investors, it would be best to wait for a significant pullback before you buy. You do not want to be buying close to resistance.

The post Shiba Inu (SHIB) is looking at a 20% rally in the near term appeared first on Coin Journal.

DeFi is hot, and we have seen a series of projects emerge to try and take full advantage of this emerging space in crypto. There are so many DeFi projects too, and each of them offers its own investment merits and demerits. But here is why investing in DeFi is a good idea for any investor:

• DeFi projects are trying to solve a real need in the market

• The technology needed to power DeFi protocols is now in full force

• Investor sentiment in DeFi has remained largely positive over the years.

So, if you are thinking of unlocking long term value in DeFi, we have three coins here below that will help you:

Synthetix (SNX)

The main goal for Synthetix (SNX) is to make it easier for people to mint crypto assets that are pegged on real-world assets. In essence, it allows assets traded in the traditional finance industry to be migrated into the blockchain and traded using this ecosystem. 

Data Source: Tradingview 

This is a huge breakthrough that could bring in more trade volume into the crypto space. Synthetix has a market cap of $714 million with a very strong future.

Compound (COMP)

You cannot talk about DeFi and fail to include Compound (COMP) in the calculation. The project is one of the biggest liquidity providers in the market that allows people to earn rewards through staking. Compound has a TVL of around $7 billion, one of the highest of any DeFi protocol.

Lido Finance (LDO)

As far as TVL goes, Lido Finance (LDO) also has no match. The project has over $18 billion in total value locked and is one of the biggest DeFi projects on the planet. The protocol is run through a native DAO called LDO with a market cap of slightly lower than $400 million. Lido Finance (LDO) will continue to play a huge role in the future of DeFi.

The post Top 3 coins to help you unlock the long-term value in DeFi appeared first on Coin Journal.

The play-to-earn space of the blockchain ecosystem has seen immense growth over the last few months. In fact, Axie Infinity, which is one of the main projects in play-to-earn, saw massive gains in 2021. Here is why play-to-earn will continue to grow:

• There is increased integration of blockchain gaming with the metaverse

• Play-to-earn has also seen increased NFT integration as well.

• We are likely to see increased institutional capital towards play-to-earn.

So, if you want solid Axie Infinity alternatives, here are the top 3 coins that you consider in the meantime.

Splinterlands (SPS)

Splinterlands (SPS) is largely a collectible card game that involves rapid battles between users as well. In essence, players will get the chance to build a unique collection of cards, each backed by NFTs. They will then try to battle each other in a wide range of skill-based games where winners earn rewards.

Data Source: Tradingview 

It is also possible to buy and sell collectibles within the Splinterlands universe. The native and governance token for the game is called Splintershards, and its current market cap is around $65 million. This suggests it has the potential to go further.

Battle of Guardians (BGS)

Developed by Unreal Engine, Battle of Guardians (BGS) is a multiplayer NFT powered fighting game. It has multi chain capabilities as well since users can access it either via the Binance Smart Chain or Solana. The game offers a truly immersive experience and is one of the most exciting play-to-earn projects in the market right now.

CryptoKitties (WCK)

CryptoKitties (WCK) is a blockchain based game that lets users collect and breed cute digital kitties. All these kitties are backed by NFTs as well. The game has a dedicated catalogue where players can also view and buy kitties that they want. CryptoKitties was released in 2017, and while it was slower to hit the ground running compared to Axie, it has since managed to gain a huge following. 

The post Top 3 crypto alternatives for Axie Infinity you can consider right now appeared first on Coin Journal.

Over the past week, Dogelon Mars (ELON) has been one of the main meme coin performers. The toke is up nearly 40% in a week or so and has shown significant bullish momentum. But how long can it sustain gains before a major sell-off? More analysis in the post but here are some important facts first.

• Dogelon Mars has outperformed the entire market by almost 15% in the past week.

• The coin has closed higher in the last four days in a row

• In the last two days alone, ELON has surged by over 25%.

Data Source: Tradingview 

Dogelon Mars (ELON) – Can bulls maintain the uptrend?

Despite this recent surge, it seems like the price action has been bouncing off two crucial support and resistance zones. In fact, ELON has tried to surge past the overhead resistance zone of $0.0000012, but bulls have not managed to get enough demand. The coin is however getting closer and closer and could break through in the coming days. 

If this happens, then we should have a sustained upward breakout that could deliver minimal gains of about 30%. Also, the sentiment in the crypto market is showing good signs. This means that investor appetite towards meme coins, which are largely speculative assets, is returning. For this reason, it is likely that in the near term, ELON will report more and more gains.

Is Dogelon Mars a good buy now?

The key for short-term traders is to watch the $0.0000012 price. If the meme coin can rise above this, then it is likely that more gains will come. We are looking at an upswing of around 30% before any pullback. 

So, with that in mind, Dogelon is a good buy. But from a long-term point of view, it would be best to wait until sentiment in the crypto market has fully stabilised before jumping in.

The post Dogelon Mars (ELON) is expected to maintain a bullish trend – Here’s what to know appeared first on Coin Journal.

With hype a key price driver during alt-season, ApeCoin could be better.

• Shiba Inu is a meme coin that took the markets by storm in 2021 after it rallied by millions of percentages.

• ApeCoin is the new kid on the block in terms of hype, driven by its connection to the bored Ape NFT community.

• Now that alt-season is starting, ApeCoin makes for a better buy for investors looking to capitalize on the hype. 

Shiba Inu SHIB/USD is a meme coin that came to prominence in 2021. It went on to record gains of over 48,000,000%. Shiba Inu was largely driven by the hype around meme coins that Elon Musk triggered in 2020. Shiba Inu continues to be one of the meme coins that hold a lot of potential going into the future.

That’s because there are lots of investors who are still betting heavily on meme coins. This is driven by expectations of a repeat of the gains of 2021 at some point in the future. Besides, the Shiba Inu team is working hard to improve SHIB’s core metrics. For instance, the team is in the process of building a Metaverse platform. With the massive potential that the Metaverse holds, this is a factor that could see SHIB perform well in the future. 

On its part, ApeCoin APE/USD is the new kid on the block and is attracting all the hype. ApeCoin rallied by over 2000% since launch and continues to draw high volumes relative to most cryptocurrencies in the market. This has a lot to do with its connection to the Bored Ape community, which at the moment, is the most popular NFT community in the market. 

So, which one is a better buy?

Both Shiba Inu and ApeCoin are good investments. However, now that alt-season seems to be kicking off, it is best to move with the flow to maximize gains. Using this approach, ApeCoin is a much better buy than Shiba Inu at the moment. The odds are in its favor since it is currently drawing a lot of hype. 

Summary

Shiba Inu and ApeCoin are both fantastic long-term investments. However, for an investor looking to make the most out of their investment short term, ApeCoin has more potential. There is a lot of hype around it, and it’s now where Shiba Inu was back in January 2021.

The post SHIB v ApeCoin: Which is a better buy today? appeared first on Coin Journal.