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Shiba Inu Sees 2,000% Explosion In Adoption, Is SHIB Headed For A $0.0008 ATH?

Shiba Inu (SHIB) has been gaining a lot of traction lately, with the meme token seeing an increase in the number of addresses created. This uptrend in the crypto token’s expansion is significant as it could spark a surge in SHIB’s price and possibly a new all-time high (ATH). 

Shiba Inu Sees 2,000% Increase In Daily Addresses

Data from the Market Intelligence platform IntoTheBlock shows that SHIB has been attracting over 8,400 new daily addresses in March. This represents almost a 20 times increase from its February daily average. The meme coin’s new daily addresses peaked on March 5, recording 21,000 addresses.

The reason for the increase in SHIB’s adoption is not farfetched, as the Shiba Inu team has continued to implement exciting initiatives that are attracting new investors into the ecosystem. One of these initiatives includes the launch of K9 Finance, a liquid staking derivatives (LSD) platform on the Shibarium network.

Liquid staking looks to be one of the leading narratives of this bull cycle (something that has increased Ethereum’s network activity), and there is no doubt that K9 Finance can also help the Shiba Inu ecosystem achieve the same results. 

Meanwhile, blockchain analytics platform Santiment recently highlighted how AI tokens and Meme coins look to be the leading altcoins at the moment. As such, it is unsurprising that investors will want to position themselves with SHIB, the second-largest meme coin by market cap. 

The increased interest in SHIB since the beginning of March is already reflecting positively on its price, with the crypto token seeing a gain of over 162% in the last seven days. A sustained increase in SHIB’s adoption will help the meme coin maintain this bullish momentum.

SHIB Gunning For Its All-Time High

SHIB’s all-time high (ATH) currently stands at $0.0008, and with its current bullish momentum, there is a growing belief that it won’t be long before it surpasses that price level. The fact that the bull market also looks to be in full force already makes SHIB hitting a new ATH very possible. 

Interestingly, crypto analyst Ali Martinez had predicted that SHIB could rise to as high as $0.011. Although that price level still looks very ambitious, it is one to keep an eye on as the meme coin continues its upward trend. Meanwhile, the Doge community will be on high alert as Dogecoin (DOGE) risks losing its crown to SHIB as the most valuable meme coin. 

At the time of writing, SHIB is trading at $0.00003346, up almost 10% in the last 24 hours according to data from CoinMarketCap. 

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Bitcoin Upside Momentum Likely To Fall Even Further: Analyst

Amidst widespread bullish sentiment surrounding Bitcoin, one analyst on X thinks the leg up won’t be as strong as it was in the past few weeks. Pointing to developments in the Bitcoin log curves, the analyst expects the coin to find resistance as it attempts to break higher. 

Bitcoin Uptrend To Slow Down

The analyst doubts the current excitement around the uptrend, and technical formations advise the contrarian view. Many in the industry think Bitcoin will not only ease past $70,000, a round number nearly tested this week, but also float to $100,000 in the next few weeks. 

On X, the analyst remains confident about the coin’s prospects. However, based on the Bitcoin log curve assessment, the leg up will likely be labored. The analyst compares the current price formations with the Bitcoin log curves. In 2021, the tool was used to identify price peaks.

Based on price formation, the analyst notes that if BTC peaks in 2024, then prices will likely turn around from between $77,000 and $149,000. These prospective peaks’ upper and lower bands represent layers 5 and 7 of the log curve.

Even with BTC possibly rising to $149,000, at least from the tool, the Layer 7 target is relatively lower. By factoring in a one-year slowdown in growth, the predicted peak is revised downwards from $180,000 to $149,000.

When writing, the “red band” of the log curve has been breached earlier than usual. Looking back, Bitcoin prices tend to peak three months after this breakout. 

That likely places Bitcoin’s peak at around the $77,000 level but below $100,000. Nonetheless, this is hard to predict, considering the volatile nature of prices and the dynamic nature of fundamental factors.

The community remains optimistic about what lies ahead. So far, Bitcoin prices have been trending at historical highs, but there has been a sharp drop in the momentum of upside.

BTC Bears In A Commanding Position

The daily chart shows that prices are still inside the bear bar of March 5. The candlestick had a high trading volume and was wide-ranging. For the uptrend to be valid, prices must break above $70,000, based on rising trading volume.

Lower prices incentivize issuers to spot Bitcoin exchange-traded funds (ETFs) to load up on dips. Their actions have spurred demand over the past few weeks, lifting sentiment and prices. According to Coinstats’ Fear and Greed Index, “extreme greed” exists in the market.

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Bitcoin To $240,000: Analyst Cites Key Narrative As Catalyst

Bitcoin price has fallen by over 10% after briefly touching its all-time high of $69,000, propelled by investors’ flood of money into BTC Spot Exchange-Traded Funds (ETFs).

However, intense volatility surrounding the crypto asset’s price has triggered a rebound to the $68,000 mark, which highlights the return of positive enthusiasm, prompting predictions of a significant rally to an unprecedented height.

Key Narrative That Could Send Bitcoin To $240,000

Cryptocurrency analyst and trader Matthew Hyland has shared an optimistic forecast for Bitcoin with the community on the social media platform X. The analyst has identified a key trend that could trigger a bullish rally for BTC to the $240,000 threshold.

At first, Hyland noted that over the past two years, Bitcoin has “destroyed several narratives, both positive and negative.” These include one of the ideas that BTC will “never fall below the previous cycle low or reach its peak until after the halving event.”

However, Hyland claims that the only narrative left that BTC has not destroyed is the “Diminishing Returns,” as it is still almost 100% effective. Hyland is uncertain of the narrative’s effect but believes that it is the “final boss” since it is the only one still standing.

As a result of the trend, the crypto expert has set his price target at $240,000 in the upcoming months. This simply means BTC needs to surpass the aforementioned price in order to be able to demolish the diminishing returns narrative.

Hyland claims it makes no difference to him if Bitcoin “reaches the level or not.” Nonetheless, it will be “intriguing” to observe whether it can smash the one trend that remains intact.

Another expert known as Crypto Signals seems to agree with Hyland, expressing his pleasure in the analysis. According to Crypto Signals, in the context of Bitcoin, “the idea of diminishing returns is a fascinating one.”

Crypto Signals claims that every cycle tends to “produce a declining percentage gain as the market matures.” Due to this, there is a more profound development and broader adoption in the market. Thus, in the constantly changing world of cryptocurrencies, the narrative is worth looking into.

Strategic Timeframe For BTC Pre-Halving Rally

Rekt Capital, a well-known crypto expert, has pinpointed a timeframe for when and where the Bitcoin Pre-Halving rally will end. According to Rekt Capital, the “pre-halving rally is gradually approaching its end.”

Related Reading: Bitcoin Halving Prep: Analyst Outlines Key Points Ahead Of Event

Drawing a comparison to 2020’s pre-halving rise, the analyst stated that it occurred two weeks before the event. After that, BTC witnessed a “pre-halving retrace” of about 20%, which was the last it saw before the halving.

He further drew a comparison to 2016’s pre-halving surge, which he noted took place “28 days prior to the halving.” Nevertheless, it also experienced “a conservative correction” of over 29% after the rally topped.

Rekt Capital has marked the point as the “historic danger zone” that could potentially conclude the pre-halving rally this year, before witnessing a pullback ahead of the event.

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Dogecoin Could Hit $1 If History Repeats, Analyst Reveals When

An analyst has explained that Dogecoin may be able to hit $1 if history repeats for it. Here’s when exactly this could happen for DOGE.

Dogecoin Has Been Breaking Out Of A Parallel Channel Recently

In a new post on X, analyst Ali has discussed a potential outcome for Dogecoin based on the historical pattern. Below is the chart for the weekly price of the memecoin shared by the analyst, which reveals a similar-seeming pattern that the asset has followed over the years.

As Ali has highlighted in the chart, before both of its previous two major bull runs, Dogecoin’s weekly price consolidated inside a specific parallel channel for a notable amount of time.

The “parallel channel” here refers to a pattern in technical analysis (TA) made up of two parallel trendlines inside which the price of the asset consolidates. Parallel channels can be of different types, like ascending and descending ones, but in the context of the current discussion, channels parallel to the time axis are relevant.

The upper trendline in such a pattern is drawn by joining together tops, while the lower line connects bottoms. When the price retests either of these lines, a reversal is more probable.

This means that a retest of the upper line could break the uptrend and cause the asset to go through a drawdown. Similarly, the lower line may be a source of support and help the price reverse itself back up.

However, a break out of either of these lines can imply a continuation of the trend in that direction. The graph shows that when the weekly price of Dogecoin saw breakouts like this out of the respective consolidation channels the last two times, it went through bull rallies.

In the past couple of years, it would appear that DOGE has once again gone through a similar period of consolidation as those previous two, and recently, the coin has been breaking out.

Ali has marked a potential trajectory that Dogecoin could follow in the chart based on the precedent set by these last two bull runs. “This may sound wild, but if history is any guide, Dogecoin $DOGE could hit $1 by mid-April!” says the analyst.

From the current cryptocurrency price, such a run would suggest an increase of more than 488% for the memecoin in less than a month and a half. Obviously, a rally like this would be super impressive if it ends up playing out like this.

It remains to be seen what trajectory Dogecoin follows now that it has seemingly broken free of its long parallel consolidation channel.

DOGE Price

When writing, Dogecoin is trading around $0.17, up 36% in the past week.

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Dogecoin To $100? Crypto Analyst Reveals The Key

Dogecoin has seen a number of bullish predictions over the last month, especially with the recovery of the crypto market. The latest in this long line of bullish predictions is that of one crypto analyst who goes by southofearth on TradingView. According to the analyst, the DOGE price will rally higher than expectations.

Dogecoin Price Maintains Previous Patterns

The analysis which was posted on the TradingView website shows the trajectory of the Dogecoin price since it was launched back in 2013. The chart highlights the performance of DOGE in the years leading up to each Bitcoin halving and how this can pinpoint its rally point.

Both times have seen the Dogecoin price put on a massive rally after each halving, suggesting that it is a bullish trigger for the meme coin. With the next Bitcoin halving expected to take place sometime in April, the DOGE price looks to be gearing up for another breakout.

The crypto analyst points out that DOGE is currently showing a similar pattern as it had in the previous years, although with a bit more volatility. But because it is mostly maintaining this pattern, the chances of it following the same patter of rallying are high.

They also explain that the markets are moving faster, and the 4-year cycle that investors are used to might be getting shorter. Given this, the bull market begins faster, although with longer bear markets. In this case, the analyst believes that the DOGE price could top out in October of 2024 instead of in 2025 as expected.

DOGE Price Targets For Bull Market

Southofearth also shared their price targets for Dogecoin going forward, with four targets in total. The first puts the price at $1, which looks to be the start of the breakout. From there, the next target is placed at 1005 from the first target at $2.

Then another jump to $14 is expected before running all the way to $27. According to the crypto analyst, $27 is the next all-time high price for DOGE going by what has happened to the coin in previous years.

However, it doesn’t end there, as the analyst predicted that the DOGE price could possibly rise to $100 and above. But for this to happen, there has to be “hyperbitcoinization happens due to dollar index breaking down,” the analyst explains.

If the crypto analyst is correct, then the DOGE price could see a 16,000% move from here. However, the possibility of this happening is very slim given that DOGE’s market cap is already at $20 billion, and such a move would make it larger than Ethereum.

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FLOKI Skyrockets To New All-Time High, Soaring 60% Following Two Major Listings

Web3 project and meme coin Floki Inu (FLOKI) has garnered significant attention in the cryptocurrency market. It has witnessed an impressive uptrend of over 630% in the past 30 days alone. As a result, it has soared to the 64th position in market capitalization, surpassing $2 billion.

This surge in price comes as notable digital asset firms, including DWF Labs, have recognized FLOKI as a potential long-term investment, resulting in a $10 million purchase plan. This move pushed FLOKI to a 9-month high of $0.00005097 on February 27th.

However, the cryptocurrency’s popularity has spread to other jurisdictions, and it recently hit an all-time high (ATH), trading at $0.0002043, coupled with a 58% uptrend in the past 24 hours. 

FLOKI Targets New Asian And Middle Eastern Investors

Coinhako, a regulated crypto exchange in Singapore under the Monetary Authority of Singapore (MAS), has endorsed FLOKI by listing the token among its tradable cryptocurrencies. In an official announcement, Coinhako stated, “The people’s cryptocurrency has reached Coinhako’s shores and is available to trade.”

The Floki Inu team expressed their excitement about the listing, highlighting that crypto users in Singapore can now buy FLOKI with SGD and USD on a regulated exchange. They believe this listing is a significant milestone that will accelerate Floki’s vision to become the world’s most recognized and widely used cryptocurrency.

In addition, the Floki Inu team has announced that the meme coin has been successfully listed on CoinMENA, one of the prominent crypto exchanges catering to retail and institutional clients in the Middle East.

CoinMENA is a licensed and regulated entity by the Central Bank of Bahrain and the Virtual Asset Regulatory Authority in Dubai, which aims to ensure a safe and compliant trading environment for investors. The team behind the project commented on the matter:

This is a MAJOR listing for Floki adoption and our goal to become the world’s most known and most used cryptocurrency as it introduces Floki to key and affluent players in the Middle East and Arab regions.

Massive Exposure In Times Square

The Floki Inu team has launched an “aggressive” marketing campaign to drive adoption further and attract additional investments. Starting from March 15th and lasting for three months, Floki will be featured prominently on a massive double-sided HD LED screen in Times Square Plaza, New York. 

This digital exhibition, located beside the Nasdaq billboard, will showcase a ten-second advertisement for Floki at least four times per hour, airing for 20 hours a day over 93 days. 

This campaign will deliver a minimum of 7,440 ten-second spots, taking advantage of Times Square’s daily foot traffic of 330,000 visitors and an annual influx of 50 million people. 

According to the announcement, the goal is to solidify Floki’s association with meme coins in people’s minds and take advantage of what the team expects to be the most “explosive bull run” in the crypto market.

Featured image from Shutterstock, chart from 

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Crypto Analyst Says XRP Price Could Rocket 2,300% To $14.6, Here’s How

The XRP price has now managed to position itself above the $0.6 psychological level, as the entire crypto market waddles in bullish action in the past month. Popular crypto analyst Dark Defender has predicted an interesting price point for XRP, revealing that the crypto could reach $14.61 if the XRP/BTC pair reaches a record high.  

XRP Could Skyrocket 2,300%

Dark Defender’s recent analysis of XRP’s price trajectory is based on its past performance against Bitcoin on the XRP/BTC pair. A deep dive into the XRP/BTC chart shared on X by the analyst reveals that XRP has been underperforming against Bitcoin since the middle of 2023. XRP has been down 60% against Bitcoin since August 2023. Recent market dynamics have further exacerbated its underperformance against Bitcoin, as Bitcoin continues to push against various price levels to reach a new all-time high.

Interestingly, Dark Defender noted that the price action of the pair has now reached a support which will determine XRP’s price trajectory in the coming months. The so-called support has the characteristics of the formation of higher lows since 2015 and is now at the 0.00000914 level.

The price chart noted a bounce over this support to usher in an incoming breakout of epic proportions to the current high of 0.00024351. The last time a bounce happened, XRP would go on to overperform Bitcoin by over 5,000% throughout 2017 and early 2018. “It will be the awakening of 6 years,” the analyst said.

We had the Orange and the Green Arrows on the #XRP/#BTC pair.

We reached the Support, Ultimate.

The #Purple Arrow is here.

It will be the awakening of 6 years.

Some can see, & some can’t.

— Dark Defender (@DefendDark) March 6, 2024

When asked for an XRP price point, Dark Defender clarified that the XRP/BTC pair increases only when XRP appreciates against BTC. In the scenario that BTC starts to perambulate around the $60,000 price level, a surge in the XRP/BTC to the 0.00024351 level would relate to XRP reaching $14.61. In the scenario that Bitcoin reaches $100,000 and sticks around this price level, XRP could trade for over $20 with the same all-time high on the XRP/BTC pair. 

With XRP now trading at $0.6205, a surge to $14.61 and $20 would mean an increase of 2,250% and 3,120%, respectively, from the current price level. 

Continued Bullish Sentiment For XRP Price?

Other crypto analysts have predicted bullish price points for XRP in the near future. For example, Crypto analyst Jaydee highlighted XRP breaking out of a six-year trendline which could mean a further move to the upside.

In another technical analysis using the Elliott Waves theory, Dark Defender predicted XRP to reach $1 in March, a level that it hasn’t attained since May 2021.

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Shiba Inu Just Ballooned To 124% – What’s Pushing The Price Up?

Shiba Inu (SHIB) has experienced a remarkable surge in recent times, mirroring the broader optimism sweeping the cryptocurrency market. This uptrend coincides with Bitcoin’s impressive rise above $63,000.

Shiba Inu Explodes On The Weekly Timeframe

The memecoin has witnessed significant gains, with a solid 61% jump in a 24-hour timeframe, a more impressive 124% increase over the week, and a stellar 50% growth in the past month.

Notably, SHIB has finally clawed its way into positive territory for 2023, boasting a 10% gain since February. In addition to this, its market capitalization crossed the $8.5 billion barrier for the first time in a year.

This bullish momentum is further bolstered by technical indicators. The recent price climb above $0.000014 has demonstrably reignited investor interest, as evidenced by the substantial 75% surge in trading volume. This suggests a potential breakout from a previous consolidation phase and could signal further upward movement if buying pressure persists.

Market Strength And Bull Run Potential

The total market capitalization of cryptocurrencies is nearing $2.5 trillion, a significant milestone. This uptick has fueled speculation among some analysts for a potential bull run, a period of sustained price increases. While past performance doesn’t guarantee future results, this rising market cap does suggest a return of investor confidence.

These often highly volatile assets have experienced explosive price jumps, potentially contributing to a positive feedback loop within the broader market. This “meme coin frenzy” could be a sign of increased retail investor participation, which can be a double-edged sword, driving prices up but also increasing volatility.

SHIB Investor Sentiment

An interesting technical indicator is the improvement in Shiba Inu (SHIB) investor sentiment. Data suggests that over 50% of SHIB holders are currently sitting on profits, compared to a mere 10% in September 2022. This shift reflects the positive impact of the recent price increase and could further fuel buying pressure if the trend continues.

Shifting Tides

Meanwhile, on-chain data from Lookonchain indicates a sizeable investor, commonly referred to as a “whale,” has made a strategic shift in their holdings. This whale liquidated nearly 2 trillion PEPE tokens, profiting $3.5 million. This divestiture suggests the whale perceived PEPE to be nearing a price peak or no longer aligned with their investment goals.

Following the PEPE sale, the whale reinvested a portion, $893,000, into Shiba Inu (SHIB). This strategic allocation of 76 billion SHIB tokens suggests the whale anticipates potential growth in SHIB’s price. However, it’s important to remember that this is a singular instance.

Featured image from Pexels, chart from TradingView

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BlockchainBNBBSCCrypto Just Launched | $BUNDY | In honor of AL BUNDY | A True

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Crypto Analyst Predicts Parabolic Rally For Cardano – Here’s The Timeline

Several analysts have expressed optimism, suggesting that Cardano (ADA) is poised for a bullish market surge in the near term.

ADA recently went on an impressive spike on the last day of February, registering a 14% gain to push its price above $0.7 for the first time since May 2022. 

Despite these gains, there have been concerns from some investors of ADA potentially falling behind in its performance relative to Bitcoin in the last bull cycle. Popular crypto analyst Dan Gambardello addressed some of these concerns in a recent video posted on X. He mentioned that Cardano is currently within a typical trend and that a bull indicator which is expected to welcome a parabolic price spike would soon be triggered.

Parabolic Rally For Cardano

Gambardello’s recent video analysis came mostly to address concerns about ADA’s underperformance in this bull cycle. Particularly, parallels were made to the last time Bitcoin reached $60,000 in March and ADA was trading around $1.30 to $1.98.

However, this hasn’t repeated itself and traders are beginning to wonder if ADA will attract the same bullish sentiment. Bitcoin has now broken past the $60,000 mark again and ADA finds itself in the $0.66 to $0.7 region. 

Gambardello emphasized Ethereum’s past action as a comparison, noting that the cryptocurrency is one cycle ahead of Cardano. In that context, when Bitcoin neared its former all-time high of $17,000 in the last cycle in 2021, Ethereum was at $500. This seemingly underperformed its previous performance without raising a cause for concern from investors, as ETH was at $700 when BTC reached an all-time high of $17,000 in 2017. 

He remarked that since ADA is currently mirroring Ethereum’s last cycle, the current price movement is normal. He also noted that most altcoins are getting ready to power through. 

Ultimately, the analyst noted that a bullish break of structure just occurred on ADA’s weekly chart. The last time this happened in 2021, ADA went on a price surge from $0.15 to $1.5.    

Current State Of Cardano

Gambardello noted in his analysis that while the break of structure indicator got triggered above $0.7, ADA saw a minor correction shortly after. In light of this, he made the observation that a significant disruption of structure might take place within the next three days.

Remarkably, ADA has in fact broken out of the $0.7 price level since the analyst posted his video online. At the time of writing, ADA is trading at $0.74, up by 10% in the past 24 hours. Particularly, ADA reached above $0.76 in the past 24 hours. 

The Cardano blockchain recently crossed over 10 million blocks. ADA is now on its way to continue on massive gains along with the rest of the crypto market. 

Featured image from Pexels, chart from TradingView

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