Category: Cryptocurrency News

Swift claims that interlinking existing systems with blockchains is better for the short term than bringing CBDCs together with tokenized assets in a single ledger.

Shiba Inu (SHIB) enthusiasts are keeping a watchful eye on the coin’s price movements as it inches closer to a crucial juncture in the last day of August. The latest indications from the market suggest that a potential breakout opportunity might be on the horizon, hinting at an imminent directional shift. The ongoing consolidation phase is taking the form of a symmetrical triangle pattern. This pattern, marked by two converging trendlines, signifies a period of uncertainty in the market, often followed by a notable price movement. Related Reading: Bitcoin Cash (BCH) Records Surprising 15% Rally – What’s Behind It? On August 29, a notable surge in Bitcoin’s price set off a chain reaction across the crypto market, prompting a 2.8% jump in Shiba Inu’s value. This push aimed to break the coin free from its protracted consolidation phase. However, the rally faced resistance near the $0.00000845 mark, forcing the meme coin back into the confines of the triangle pattern. As of the latest data, the SHIB price stands at $0.00000816, with a 1.0% decline in the past 24 hours and a 2.0% loss over the past seven days. Shiba Inu price action in the last week. Source: Coingecko Shiba Inu Triangle Pattern Unveiled The triangular pattern taking shape on the charts is a recurring technical formation in the world of trading. It signals a period of indecision among investors as the price fluctuates within the converging trendlines. Source: TradingView This phase is often followed by a breakout, where the price ventures beyond one of the trendlines with significant momentum, indicating the potential for a new trend to emerge. Amidst the price contemplation, Shiba Inu enthusiasts have found reason to rejoice with the relaunch of Shibarium, the Layer 2 blockchain associated with the SHIB ecosystem. Within days of its official reactivation, Shibarium is already making great strides, sparking enthusiasm within both the SHIB community and generating anticipation for a potential surge in SHIB’s value. SHIB market cap slightly below $5 billion. Chart: TradingView.com Related Reading: Cardano (ADA) Price Nears A Pivotal Shift – A Breach Into The $0.3 Level? In a tweet, Lucie, a prominent figure within the Shiba Inu team, predicts that Shibarium’s impact will become evident over the next eight to 12 months. Shedding light on the details, Lucie emphasizes how Shibarium’s functionalities will aid in reducing the circulation of SHIB tokens. STAY INFORMED Just wanted to give you a friendly heads up about some influencers making big promises about $SHIB burns. There are no keys to the $SHIB supply. Completely decentralized. Whatever gets burned is simply a result of people buying and using #Shibarium.… pic.twitter.com/X35w1lPkPq — 𝐋𝐔𝐂𝐈𝐄 | Summer of Shibarium (@LucieSHIB) August 30, 2023 Anticipating The Meme Coin’s Next Move As SHIB clings to the edge of the symmetrical triangle, traders and enthusiasts alike are bracing for the impending breakout. The crypto community’s gaze is fixed on the emerging trendlines, waiting to witness whether the price momentum will gather enough strength and hit $0.00001. (This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk). Featured image from Rumble via Yahoo!

Shibarium has only been live for a few days but is already showing early signs of success. The Ethereum layer-2 scaling solution, which hopes to provide lower gas fees and faster transaction times for the Shiba Inu community, has seen some impressive growth numbers in terms of Total Value Locked (TVL).  TVL Crosses $1.4 Million Since Shibarium launched its mainnet, the total value deposited in the network has skyrocketed. The TVL recently crossed $1.4 million, indicating strong interest in the new chain.  Related Reading: Shiba Inu Community Celebrates New Milestone One Day After Shibarium Goes Public Data from DeFi TVL aggregator DeFiLlama shows that the total TVL in Shibarium has grown to $1.42 million in the past two days. While this amount is small when compared to the total DeFi TVL of $38.731 billion, the rapid growth demonstrates the potential that Shibarium possesses.  A look through DeFiLlama shows that Shibarium currently has seven protocols. The DEX DogSwap with a TVL of $794,582 accounts for most of the total TVL. Other protocols on the chain are MARSWAP, Woof Finance, WoofSwap, Shibex, LeetSwap, BoneDex, and yield farm ChocoInu. TVL rises above $1.4 million | Source: DeFiLlama Shibarium’s growth piggybacks on the vast community Shiba Inu has gathered in the past few years. But the network did witness some hiccups before its launch, as PeckShield reported that a total of $1.7 million was stuck on the bridge.  Just hours after its launch, the network witnessed a flurry of user traffic, causing it to be temporarily shut down. However, this has been resolved as Shibarium developer Kaal Dhairya explained this was a fail-safe to ensure the safety of the funds. As of the time of writing, block explorer Shibariumscan shows that there have been a total of 599,554 transactions from 444,134 wallets averaging a daily transaction count of 68,402.  Will Shibarium Translate To A Higher Price For SHIB? SHIB’s price has always reacted positively to Shibarium developments. Prior to its launch, the Shiba Inu ecosystem witnessed massive withdrawals from exchanges as many investors opted for self-custody in hopes of what the Shibarium launch might bring. SHIB also saw a jump in price after lead developer Shytoshi Kusama teased Shibarium’s launch on a social media post.  Related Reading: GBTC Shares See Volumes Climb To 2-Year High Amid Grayscale’s Victory Lap It would appear, however, that the launch of Shibarium hasn’t really translated into a price spike for SHIB. At the time of writing, the token is trading at $0.000008178 and is down by 1.28% and 1.73% in the past 24 hours and seven days respectively.  With the recent slump in crypto markets, Shibarium’s early success is a bright spot. This early success of Shibarium could potentially boost the price of Shiba Inu. As investors see the rapid growth in total value locked (TVL) on Shibarium, interest in the supporting SHIB token may increase. SHIB price holding steady above $0.000008 | Source: SHIBUSD on Tradingview.com Featured image from, Analytics Insight chart from Tradingview.com

Airline passengers can collect NFTs and then get rewards, such as flight upgrades or airport lounge access, after completing NFT sets.

Responsibility for crypto scams does not only belong to the cryptocurrency industry, it also involves banks, telecoms and social media platforms, Australian exchanges say.

Polkadot (DOT), the innovative cryptocurrency known for its interoperability-focused blockchain platform, displayed a surge in buying pressure, indicating a potential short-term bullish trend. Despite this optimism, cautious conditions still prevail for prospective buyers in the volatile crypto landscape.  While DOT faced a 2.1% slump in the past 24 hours and a marginal 0.2% decline over the past week, its overall outlook remains influenced by both market dynamics and broader technological advancements. Undoubtedly, Polkadot’s performance in the crypto market has been buoyed by widespread innovation and increased adoption. Currently priced at $4.50 according to CoinGecko, the coin’s value reflects not just its market position but also its underlying technological progress.  Polkadot Driving Factors Santiment, a reputable on-chain data firm, recently unveiled that the Polkadot project has exhibited robust development activity throughout 2023. Impressively, it secured a place among the top three projects with the highest GitHub submissions, signaling a thriving developer community and continuous improvements. 🧑‍💻 Throughout 2023, #Polkadot & #Kusama shared the honors for most #github development in #crypto according to our calculations for notable activity. However, #Cardano has finally outpaced them. Read more about how @santimentfeed tracks dev. activity here: https://t.co/vWQCE4a1nv pic.twitter.com/6KBUNf0BIt — Santiment (@santimentfeed) August 21, 2023 Related Reading: Cardano (ADA) Price Nears A Pivotal Shift – A Breach Into The $0.3 Level? The Polkadot Deep Dive report emphasized pivotal advancements in its staking mechanism. Features like the fast unstake mechanism have bolstered adoption rates, streamlining the user experience and increasing engagement. This progress showcases Polkadot’s dedication to refining its ecosystem and addressing user concerns. DOT Chart Analysis And Market Insights A detailed analysis of the 1-day chart unveils crucial support and resistance zones. The $4.5 region emerges as a bullish order block, instilling optimism for potential price gains. Conversely, the $5.5 area stands out as a bearish order block, suggesting a level where selling pressure might intensify as August ends. These distinct zones imply a potential trading range for DOT in the coming weeks, presenting both opportunities and challenges for traders and investors alike. DOT market cap currently at $5.4 billion. Chart: TradingView.com Zooming into lower timeframe charts provides further insights. A notable market structure break occurred on Monday, as DOT managed to surpass the recent lower high at $4.56. Notably, this break coincided with the higher timeframe order block, enhancing the likelihood of bullish momentum driving prices upwards. Yes, $DOT it has broken a very strong volume resistance and has also risen with vulumen to see if it holds and if it does not lose the broken resistance is a very good sign of continued rise pic.twitter.com/hNn9alSC87 — Tony ₿itcoin⚡ (@Toni_Bitcoin) August 28, 2023 Esteemed crypto trader Toni Bitcoin also weighed in on the situation, highlighting DOT’s breach of a significant volume resistance barrier. The key now lies in the coin’s ability to maintain the $4.57 price level. Should this support hold, a strong bullish continuation could unfold in the ensuing days, potentially reshaping the short-term trajectory for Polkadot. Related Reading: Bitcoin Cash (BCH) Records Surprising 15% Rally – What’s Behind It? Navigating Volatility With Caution And Optimism The recent surge in buying pressure and the ongoing development activity signify a potential short-term bullish trend for DOT. However, the inherent risks within the crypto sphere remind us that market dynamics can swiftly shift, underscoring the importance of informed decision-making and risk management strategies. (This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk). Featured image from Marine Corps Times

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