Schlagwort: crypto market

• Analysts have increased their expectations of a spot Bitcoin ETF.

• A spot ETF would boost crypto sentiment, benefiting Shiba Memu.

• Shiba Memu is a potential 10x investment in 2023.

Analysts are growing anxious over a potential approval of spot Bitcoin ETF. They believe the latest loss of SEC in the Grayscale case increases the odds for a spot ETF. Meanwhile, Shiba Memu’s presale has been in high gear as investors hold high hopes for the upcoming AI token. With over $3.8 million raised in presale, a potential spot Bitcoin ETF approval could be massive for the token. Investors can participate in the SHMU presale by visiting the project’s webpage.

A spot Bitcoin ETF beckoning?

Bloomberg ETF analyst James Seyffart says a spot Bitcoin ETF is a “done deal.” The analyst commented upon reports that the SEC wouldn’t appeal the court decision on Grayscale Bitcoin ETF. The move will pave the way for converting the Grayscale Bitcoin Trust to spot ETF. 

Analysts now believe the market is pricing for a potential greenlight of a spot Bitcoin ETF. Grayscale Bitcoin Trust (GBTC) has been trading at the lowest discount in almost two years. GBTC’s discount to Bitcoin’s net asset value (NAV) fell to 15.87% on October 13. The metric tracks how far an instrument trades from its real value. 

Analysts believe GBTC’s discount will narrow further as markets anticipate the first spot Bitcoin ETF. That comes even as Grayscale prepares to convert its trust product into a spot ETF. 

Crypto optimism to boost Shiba Memu

Shiba Memu has so far exceeded expectations after a fast-selling presale. However, a potential approval of the first spot Bitcoin ETF would add interest in the crypto token. 

A spot Bitcoin ETF would reignite interest in risk-on assets, fueling speculation, especially on Bitcoin. Consequently, meme cryptocurrencies have in the past benefited from improved crypto mood. The sentiment will pave the way for a potential uptake in Shiba Memu ahead and after listing. 

Apart from an improved crypto mood, Shiba Memu could become a challenger in the meme space. AI has been a hot development, with its prospects in Shiba Memu being an attraction so far. 

Unlike its meme peers, Shiba Memu aspires to be one of the most sustainable cryptocurrencies. It uses AI to self-market itself online and generate social frenzy. With meme predecessors suffering from market dips, investors may turn their attention to Shiba Memu. 

How does Shiba Memu work?

Shiba Memu fuses blockchain and AI, seamlessly building a marketing powerhouse. With AI, Shiba Memu taps into natural language processing to spot online mentions. It applies sentiment analysis and machine learning to assess investor perceptions and improve its marketing activities. 

Users will also play a crucial role in Shiba Memu’s growth. The project features an AI dashboard, which is an interaction platform. Users engage with the AI, ask questions, get feedback, and learn about Shiba Memu’s marketing interventions. 

The exciting bit about Shiba Memu is that the AI never gets tired. It learns and improves all the time, day and night. As such, the team believes the project can achieve as much work as 100 marketing agencies combined. 

Shiba Memu’s prediction in 2023, 2024

A major standout performance of Shiba Memu is its price increases during the presale. The value of the token increases every day at 6 PM GMT. The price dynamics give Shiba Memu momentum, with presale investors benefiting from the surge. 

Shiba Memu carries a huge potential based on the presale demand. Given the history of strong moves in meme tokens, analysts have earmarked SHMU a potential 10x investment. 

A prudential prediction is a 1,000% increase in value after SHMU lists in Q4 2023. In 2024, more project developments could allow Shiba Memu to sustainably increase in value. As a result, gains could be more than 10x, delivering substantial returns to investors.

The post Spot Bitcoin ETF a “done deal,” but how does this boost optimism for Shiba Memu? appeared first on CoinJournal.

The Sandbox is one of the most prominent players in the crypto industry. Together with Axie Infinity and Decentraland, the network were the leading players in the gaming and NFT industry at their peak. 

The Sandbox users slow

Recently, however, the ongoing crypto winter has affected the crypto gaming industry, with prominent platforms seeing slow user metrics. The most recent data by DappRadar shows that the network had just 2.85k Unique Active Wallets (UAW) interact with its platform in the past 30 days. 

The number of transactions in the ecosystem jumped by more than 28% to 3.6k while the overall volume crashed by 15.5% to $2.26 million. Another crucial data shows that the total fiat value of coins in its platform has dropped by 0.58% to over $23 million. These numbers pale in comparison to what it had during it peak.

The Sandbox is not alone. Decentraland, a pioneer in its industry has done even worse. It had just 2.28k in Unique Active Wallets and handled 40.24k transactions. The total volume in its platform was just $19 million.

There are several reasons why Sandbox and Decentraland have seen their users crash over time. First, unlike during the pandemic, many people have now gone back to work and have less time to play.

Second, many Decentraland and Sandbox players have been disappointed by the relatively weak returns in the sector. MANA and SAND prices have plunged by over 80% from their peak.

Most importantly, interest rates have jumped to a multi-decade high as the Fed battles with high inflation. Riskier assets like Sandbox and Decentraland underperform in a period of high-interest rates.

Memeinator continues to outperform

Meanwhile, Memeinator, an upcoming meme coin has continued to defy gravity. The platform has raised over $695k in the past few weeks as investors continues accumulatioon. Their goal is that the price will surge once it is listed in key exchanges like Binance and OKX.

Memeinator is a meme coin that will combhine the aspects of gaming and artificial intelligence. These technologies will help to create utility in the ecosystem, making it one of the top-performing platforms.

Memeinator aims to take advantage of the hype that has pushed meme coins like Shiba Inu and Dogecoin to become the biggest players in the industry. It also aims to use technologies like AI to boost its market share and defeat existing tokens.

Most importantly, there is a likelihood that the MMTR token will do well in the next crypto bulll run. This run willl be triggered by a Bitcoin ETF, Bitcoin halving, and a change of tune by the Federal Reserve. You can buy MMTR token here.

The post As the Sandbox usage slows, is Memeinator the next big thing? appeared first on CoinJournal.

Cryptocurrency prices have been in a deep slumber in the past few weeks as investors move back to stocks and other safe havens like short-term bonds and money market funds. Bitcoin has remained stagnant betweeen $25k and $30k while the total market cap has remained stuck above $1 trillion.

Loom Network, Liquity surge

Not all cryptocurrencies have remained in this consolidation phase in the past few weeks. As I wrote here, Loom Network price has surged by more than 500% in the past few days, making it the 92nd biggest cryptocurrency in the world. The rally happened after Gate.io, a leading exchange listed the cryptocurrency. 

And this week., Loom Network’s futures were added to leading exchanges like Binance and LBank. As all this happened, the coin entered the so-called markup stage of the Wyckoff model where demand is usually higher than supplies. 

The other top mover was Liquity, a platform that operates the Liquity US dollar stablecoin known as LUSD. Users can take loans using the stablecoin after staking ether as collateral. LQTY price has surged to $1.35, higher than last month’s low of $1.35. 

Liquity’s price action was mostly due to the increased activity in its ecosystem. The latest data shows that users who staked in the protocol received $625k in the last month even as the crypto winter continued. 

Shiba Memu token sale continues

The other big winners in the past few weeks has been Shiba Memu, which has continued raising additional capital in the past few months. The token has raised over $3.8 million, making it one of the most successful token sales in the world. 

For starters, Shiba Memu is a meme token that aims to disrupt the industry that is now dominated by the likes of Shiba Inu and Dogecoin. It aims to do that by combining two of the most popular technologies in the market.

The first technology is artificial intelligence (AI), which has grown rapidly because of the success of ChatGPT and other companies like Anthropic. Analysts believe that AI will be the most disruptive industry in the market.

Shiba Memu will use some of the top building blocks of AI like predictive modelling, data analysis, and image analysis. The end goal is to have a meme coin that evolves over time and markets itself.

The other technlogy is the meme coin, which is mostly hype driven. But in this case, Shiba Memu will have a clear utility as the network grows.

Therefore, analysts believe that investing in Shiba Memu in its presale gives you an opportunity to make a fortune when it gets listed on key exchanges. You can buy the Shiba Memu token here.

The post Liquity, Loom Network Surges as Shiba Memu Token Sale Continues appeared first on CoinJournal.

Cryptocurrencies had another difficult week even as the US dollar index (DXY) and bond yields rally waned. Bitcoin dropped back to $26,000 while Ethereum slumped to the lowest level in months. There was no major news except the ongoing trial of Sam Bankman-Fried (SBF). This article looks at some of the top coins to watch like THORChain (RUNE), Loom Network (LOOM), and Lido DAO (LDO).

Loom Network price prediction

Loom Network price has defied gravity in the past few months. It surged to a high of $0.300, ~670% above the lowest level this month. It has become the best-performing cryptocurrency in the world. Along the way, the coin has jumped above the 50-day and 100-day moving averages (MA). 

At the same time, oscillators like the Relative Strength Index (RSI) and the Stochastic Oscillator have moved to the extremely overbought level. It has also jumped above the Ichimoku cloud. This surge happened after the coin was listed by the likes of Gate, LBANK, and Binance. 

I believe that the risk/reward ratio is not favourable for now based on the Wyckoff model. In other words, the token has moved to the markup stage, where demand is usually higher than supply. Therefore, it will now enter the distribution phase followed by a markdown. As such, the outlook is now bearish, with the next level to watch being at $0.15.

How to buy $LOOM

THORChain price forecast

The daily chart shows that RUNE price surged to a high of $2.26 on October 1st. It has now pulled back as the recent momentum faded. This is a sign that it has entered the distribution phase of the Wyckoff model. It has also formed an ascending channel and is now at the lower side.

RUNE price has formed a bearish divergence pattern, which is usually a bearish sign. The Stochastic Oscillator has moved to the oversold level. Most importantly, it has formed a small hammer pattern. This pattern signals that the coin will continue rising as buyers target the resistance point at $2.0. This view will be invalid if it moves below the lower side of the hammer at $1.50.

How to buy RUNE

Lido DAO price prediction

LDO price has been in a tight range amid a prolonged slow growth in the liquid staking industry. It has found a strong support at $1.41, which is the lower side of the descending triangle pattern. 

Lido DAO price is consolidating at the 50-day moving average while the Stochastic Oscillator has moved to the oversold point. Therefore, because of the descending triangle pattern, there is a likelihood that it will have a bearish breakout now that the triangle is nearing the confluence zone.

How to buy $LDO

The post Crypto price prediction: Loom Network, ThorChain, Lido DAO (LDO) appeared first on CoinJournal.

Marathon Digital (NASDAQ: MARA) stock price continued plunging this week as Bitcoin resumed its sell-off. The shares crashed to a low of $7.85 on Thursday even as American stocks continued retreating. It has dropped by more than 60% from the highest level in September.

The key driver for Marathon stock price is Bitcoin’s price action. The same applies for other Bitcoin mining companies like Riot Platform and BitDigital (BTBT). These stocks jump when BTC is in an uptrend and vice versa. This happens because these companies make money mining and selling Bitcoin in the open market. 

It also happens because these firms hold substantial Bitcoin in their balance sheet. Therefore, MARA stock price has plunged as Bitcoin has remained in a consolidation phase in the past few months. It jumped to above $28,000 earlier this month and then retreated sharply to about $26,000.

The ongoing Bitcoin sell-off should not worry investors since it is in the range it has been in the past few months. Nonetheless, traders should pay a close attention to last month’s low of $24,800. A volume-supported move below that level will signal that there are still more shorts left in the market. 

The next key catalyst for Marathon Digital stock price will be the company’s earnings scheduled for November 14th. It will also keep an eye on Bitcoin prices and earnings by other Bitcoin mining stocks.

Meanwhile, MARA stock has formed a death cross pattern, which forms when the 200-day and 50-day moving averages make a bearish crossover. The pattern happened on September 28th and is a sign that the shares will continue falling in the coming weeks.

The post Marathon Digital (MARA) stock price death cross forms as BTC recoils appeared first on CoinJournal.