Kategorie: Altcoin News

There is no doubt that Shiba Inu (SHIB) was the biggest meme coin of 2021. The so-called Dogecoin killer went on to make so many people rich but has since lost some of those gains. However, the big question for most people has always been the road towards $1 for SHIB. Is it even possible? Well, here are some highlights.

• At the time of writing, SHIB was trading at $0.0000217 with a market cap of around $11 billion.

• For SHIB to hit $1, it will need to grow by nearly 5 million percent over the coming years.

• While this may seem impossible, the fact that SHIB grew by nearly 26 million percent in 2021 makes it quite feasible.

Data Source: Tradingview.com

What needs to happen for SHIB to hit $1

The road to $1 for SHIB will not be easy and it will have a lot of ups and downs. In fact, the 2021 surge was driven by many factors, most of which may not be available for SHIB in the future. 

For example, when the meme coin was approved to trade in major exchanges, it simply mooned. But that is now water under the bridge. After all, SHIB is already in those exchanges. 

Also, the crypto market appears to be correcting sharply in 2022. Memecoins like SHIB will get hit hard. Nonetheless, Shiba Inu must reduce the circulating supply to get to that level. Right now, they’re about 550 trillion coins in circulation which is just too much.

Can you buy SHIB now?

Most experts will argue that the good days of Shiba Inu are way gone. But there is still enough upside for growth, albeit not the massive sharp rise we saw last year. 

For instance, SHIB is currently trading way lower than its 2021 highs. You can buy and hope to ride any recovery towards that price before you exit. Nonetheless, SHIB, like many meme coins, is highly risky.

The post Shiba Inu (SHIB) can actually reach $1 – But here is what needs to be done first appeared first on Coin Journal.

• The price of WAVES has been spiraling down without a halt.

• WAVES is seeing slight resistance at $10.3.

• WAVES/USD is currently trading at $9.13. 

WAVES/USD one-day price chart: bulls advanced to $12.8 resistance level

Over the weekend Waves price evaluation indicated a negative trend, and the price has dropped to $8.55 today. The previous week’s price chart was characterized by red candlesticks, indicating that bears were continually pushing the price to fall; however, bulls also made strong gains on January 26th, taking the price point to $12.8. Since then, bears have been impeding upward price trends, but today, the bears have gained a little profit as the price is currently locked in the $9.15region.

The MA is trading at $9.55, barely under the price point, while also remaining below the SMA50 curve, indicating a negative trend. Conversely, if we look at the 9 days Simple Moving Average signals, the resistance is at $16, indicating the highest volume pressure is at that level.

The four-hour Waves pricing assessment reveals that the bulls dominated the price component for most of today’s trading period, but bears triggered a sharp price drop today, following a continuous bullish lead. Despite the negative momentum being low, it has outperformed the bullish momentum and made the daily candlestick bearish. Yet, the value has been seen to be rising during the previous eight hours.

The post Waves (WAVES/USD) is down 81% from all-time highs ($42.7), currently trading at $9.13 appeared first on Coin Journal.

 If you are looking for the two biggest metaverse and play-to-earn platforms, then it’s got to be Decentraland and The Sandbox. But which one is a better investment? Both are created on the Ethereum network.

 Decentraland was developed in 2017 by Esteban Ordano and Ariel Meilich as a virtual platform for creating and monetizing applications and content. It is powered by three assets- MANA, LAND, and WEAR. It is the first blockchain metaverse that is run by a DAO. CoinFund, FBG Capital, and Digital Currency Group are some of with notable investors asides from the partnerships they have with Samsung, Polygon, and Cyberpunk among others.

 The Sandbox metaverse was released to the public in November 2021 under Arthur Madrid and Sebastien Borgat. It has four tokens- SAND, LAND, ASSET, and GAMES. It is backed by one of the largest investment companies, SoftBank. It aims to make blockchain gaming popular.

 While MANA is an ERC-20 token that must be burnt to purchase LAND on Decentraland, SAND is a utility token used to perform transactions on The Sandbox. Both work on the proof-of-stake consensus method. Although The Sandbox has plans to establish a DAO where SAND serves as a governance token, it is yet to be implemented.

 Decentraland has 90,601 plots of land, while The Sandbox has over 160,000 parcels of land. While LANDs are ERC-721 standard, The Sandbox also uses ERC-1155. LANDs can form individual plots, estates, and districts in both metaverses except for plazas which only exist on Decentraland.

 SAND is selling for $4.07 right now with a market cap of $3.7 billion, while MANA costs $2.55 now with a market cap of $3.86 billion. Although this implies that people are investing in MANA over SAND, Decentraland is less of a gaming platform than The Sandbox. This might push people to The Sandbox in the long run. Also, Decentraland is decentralized but this will change when The Sandbox implements its DAO.

 In November 2021, both tokens peaked at $8.40 and $5.85, respectively before settling at their present prices. While they are both similar in almost every respect, SAND is the better investment in the long run. If you are invested in metaverses and play-to-earn, then get yourself some SAND. However, if you are an investor, do proper research and deal wisely.

The post Decentraland (MANA) vs The Sandbox (SAND) – Which one is a better investment? appeared first on Coin Journal.

The crypto winter in January has seen many coins lose value. However, even though we are starting to see some price stability in the broader market, Terra (LUNA) appears to be going against the trend. The coin is quite literally on free fall right now so it begs the question, is it a good buy? Well, more on that below but here are some highlights:

• In the last month alone, LUNA has seen a sharp decline, falling by nearly 50% during the period.

• At press time, LUNA was trading at $45, down 8% for the day and down nearly 25% over the past week.

• The negative sentiment, mostly associated with Terra’s connections with Magic Internet Money (MIM), will continue in the near term.

Data Source: Tradingview.com 

Is a recovery in sight for LUNA?

Right now, it is quite possible that the free fall will continue at least in the foreseeable future. Besides, some investors are raising concerns that the Terra ecosystem could be in danger due to its association with the Anchor Protocol and MIM. 

Also, we are still not sure if the storm has passed in the crypto market. Even with gains in the last few days, there is still a lot of downside risks here that could have a massive impact on the LUNA price action. For this reason, we expect the coin to slip further in decline over the coming days.

Is it time to buy Terra (LUNA)

As a major coin in the crypto market, LUNA is of course worth having. But as the sell-off continues, it may not be the most ideal time to get in right now. Give it a week or so and see how the price plays out. If it dips even further, then you can buy and avoid any serious downtrend. After all, from a long-term point of view, LUNA is a must-have.

The post Terra (LUNA) is in free fall right now – Time to buy? appeared first on Coin Journal.

 Smart contracts made blockchain technology explorable and usable. It allowed the creation of apps, digital assets, organizations, etc. Of the numerous blockchains, two new ones are gaining traction in the crypto space. They are Fantom and Avalanche.

 Fantom was launched in December 2019 by Michael Kong to support dApps and digital assets, among others. It uses Asynchronous Byzantine Fault Tolerant (aBFT) proof-of-stake consensus algorithm (Lachesis) to implement security, low transaction fees, and high throughput. This mechanism uses a modular consensus layer that can be integrated into any network. It also has Fantom Virtual Machine that supports project development on the ecosystem.

 Avalanche was created in September 2020 by Ava Labs to support the integration of various DeFi ecosystems. It has three subchains, including Exchange Chain (X-Chain), Platform Chain (P-Chain), and Contract Chain (C-Chain). The X-Chain allows the creation and exchange of assets, the P-Chain is where validators and subnets converge, and the C-Chain aids the execution of EVM and smart contracts. It operates on Avalanche and Snowman consensus protocols.

 Both blockchains are scalable, secure, decentralized, and have low transaction fees. They have wallets where their native tokens can be stored and staked while maintaining compatibility with other wallets. Unlike Fantom, which has 22 members, Avalanche is backed by Ava Labs with over 100 members. Due to Fantom’s compatibility with Solidity and Vyper, it can easily integrate various projects into its ecosystem.

 Although they are both scalable, Fantom is than Avalanche with a finality period of one second. Also, Fantom has a fully implemented on-chain governance where FTM holders can participate in governing and propose changes on the network. However, it costs more to be a validator on Fantom.

 The price of FTM rose by 13,500%, while that of AVAX rose by 560% last year, according to CoinGecko. This can imply that although it is highly adopted, it is still undervalued. The adoption of Fantom blockchain is increasing right now, which would positively affect its price in the long run. So, in this case, the better investment is Fantom and FTM costs $2.08 as of today.

 Before you join the Fantom wagon, go ahead and do an in-depth analysis. After doing that, please deal wisely and put what you can lose.

The post Interested in the new Smart Contract Blockchain cryptocurrencies? FTM vs. AVAX – Which is more promising? appeared first on Coin Journal.